Track Bitcoin (BTC) and other Cryptocurrency accounts in Quicken (45 Legacy Votes, 9 Merged)
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I just sent a support message about this a couple of days ago. If they could at least expand the price field and the shares field 8 decimals, we could at least do manual entry of crypto transactions. [removed - disruptive/unhelpful]1
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Hi Quicken moderators. I see you're quick to remove abusive posts, and those that violate guidelines, which is good. However it would be nice to get more input from Quickn other than "no ETA" as to when you will support cryptocurrencies, it would be very helpful to those of us who are investing in this space.Quicken user since 19932
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It would be foolish for the moderators to post any ETAs on anything that isn't just about to happen and even then it might be risky.TZQuick said:Hi Quicken moderators. I see you're quick to remove abusive posts, and those that violate guidelines, which is good. However it would be nice to get more input from Quickn other than "no ETA" as to when you will support cryptocurrencies, it would be very helpful to those of us who are investing in this space.
Development plans change all the time as problems pop up, what might have been estimated to take a week might end up taking a month or more or not even be possible. Even after it's developed it could go into beta and they could find major problems and not release it.
Once you tell the customer here's my ETA they tend to think its etched in granite and get upset when it doesn't come out around that time.
Basic rule of thumb I would use for Quicken is if Quicken doesn't have that feature right now don't expect it in the near future.
If you really need a feature then you're going to have to figure out some work around or find another way of doing it maybe even outside Quicken.Signature:
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Add my name to the list of folks requesting tracking of crypto currencies.1
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Is three a plan to incorporate cryptocurrencies into the One Step Update? Currently I am using NiceHash where I have my generated BitCoin and PayPal where I have my Ethereum.
So yes, add me to the list of those requesting cryptocurrency tracking in Quicken, but with One Step Update tied to as many cryptocurrency banks as possible.2 -
> @NotACPA said:
> The same thing was said about the printing press, the engine, and the internet.
>
> There's economic value in each of those inventions. There is NO economic value in cryptocurrencies.
Sir,
What say ye now?
Please add me to the list of Quicken users, who would support Quicken Tracking of Cryptocurrencies.
I would say its about time (4 years), for Quicken to take action...
Thank you!2 -
@HLSFishin I'd reiterate my prior comments re: cryptocurrencies ... and stand corrected re: blockchain.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
> @NotACPA said:
> There is NO economic value in cryptocurrencies.
The same could be said of any number of synthetics and derivatives that nonetheless do clearly have market value and are active investment vehicles used by Quicken users and quoted on established exchanges.
Quicken can establish some sort of threshold for what quotes they will and won't serve; that's a business decision on their part -- but it should not be a value judgement of the quality or economic value of the asset.
(I note, in relation to this, that they are willing to quote HWIN: (https://www.cnbc.com/2021/04/15/hometown-international-nj-deli-owner-worth-millions-in-stock.html))0 -
I agree that personal view points on if the investment is a wise thing to do, or has economic or such shouldn't be used to decide on if the feature should be put into Quicken. And frankly I don't think that is the case with Quicken Inc's not having putting it in yet. Both in the thread for Windows and Mac they have marked them planned. But what I do think they use for the criteria is how many people want it, and how hard is it to implement, and what is the cost and affect on their other users. And clearly as of now that scale has yet to tip in the favor of doing it (at least didn't tip far enough in the past that it is now done). Depending on how many digits after the decimal point is really need, and what needs to be changed for that, how big dialogs will get even for users that are scaling the displays "old eyes", the extra cost for paying for the quotes, ... this isn't a "zero cost" decision.
On the side of judging the value of investing in cryptocurrencies I personally don't really like them for various reasons, but I'm not naïve enough to say they have no economic value just as some people might say that the dollar has no economic value over the paper and ink it is made on.
My favorite example is gold. Here you have a lot of people that own it because of its "intrinsic value". This is of course ridiculous. The value outside of the "speculation" is in what it can be used for and how hard it is to produce. It is certainly a useful metal, but those uses no where justify the price and especially not the fact that its price changing so much. That is all caused by what people are willing to pay for something.
How good is gold for protecting you from say "paper money is going to become worthless"?
If it is just your country currency, it "might be", but the farther down the path that goes the less valuable it is, and the more valuable lead backed by gun power becomes. I live in the US, if our currency goes into hyper inflation, gold isn't going to save you, the whole world will coming down with us.
Gold is just another asset that one might use to diversify, one should certainly not put all their money in it.
It is pretty clear that there are a lot of people that think that cryptocurrencies have value to them, and as such that alone means that they have "economic value". Is it "lasting economic value"? Only time will tell.Signature:
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The USD is backed by the taxing power of the US government. Crypto's are backed by nothing more than "Tulip Mania"
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
Absolutely true. In my opinion there isn't any comparison (others might disagree). But that really has no bearing on its "economic value" (EDIT sorry, it has a BIG impact on the economic value!, it just doesn't determine if this is economic value or not) or if the feature should or shouldn't be implement.NotACPA said:The USD is backed by the taxing power of the US government. Crypto's are backed by nothing more than "Tulip Mania"
BTW cryptocurrencies without a doubt have some very big negative environmental impacts, which of course can be translated into a very big negative economical impact. But like all things there are always winners and losers.
The two that stand out to me over most other speculative investments are the energy use, and the use of graphic processing cards.
Crypocurrency mining now consumes more energy that some countries. It is also the number one use of GPUs.
So on the plus side some utilities are making more money (and in some "unusually" places because they will move an operation to where they can get "cheap" electricity). And of course the manufactures of the GPU benefits, except that one of their main customers (Gamers) is very negatively impacted.
On the negative side, that generation of energy of course has an impact on the environment and resource.
So in reality it might seem like cryptocurrencies "come from no where", but in reality like all things, there are actual resources being consumed to produce them.Signature:
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> @Chris_QPW said:
>
> BTW cryptocurrencies without a doubt have some very big negative environmental impacts, which of course can be translated into a very big negative economical impact. But like all things there are always winners and losers.
[...]
> So in reality it might seem like cryptocurrencies "come from no where", but in reality like all things, there are actual resources being consumed to produce them.
I've seen academic sources that claim net investment in renewables has been driven by demand for crypto processing energy. Also, not all crypto is based on proof-of-work; some other methods (e.g. proof-of-stake) are quite light on resource consumption.
None of which has bearing on a core fact: cryptocurrencies do clearly have market value and are active investment vehicles used by Quicken users and quoted on established exchanges.0 -
Now that cryptocurrency has caught on, it's time to change the number of shares and share prices to allow for 8 decimal places instead of 6. Cryptocurrency rounding to 6 decimals creates considerable inaccuracy.0
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In my opinion (as a developer) 8 decimal places is "doable", but some of the calls for much more isn't.ocalaheart said:Now that cryptocurrency has caught on, it's time to change the number of shares and share prices to allow for 8 decimal places instead of 6. Cryptocurrency rounding to 6 decimals creates considerable inaccuracy.
But of course this all up to Quicken Inc, not us.Signature:
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It's now May 2021. Does Quicken have an ETA as to when it will offer crypto tracking? The cryptos market is booming and offering a tool to help track a crypto portfolio would be a great selling point for those not familiar with Quicken. I know for one...I would appreciate it! :-)1
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> @Jeffpilot2000 said:
> It's now May 2021. Does Quicken have an ETA as to when it will offer crypto tracking? The cryptos market is booming and offering a tool to help track a crypto portfolio would be a great selling point for those not familiar with Quicken. I know for one...I would appreciate it! :-)
+1 Amen!1 -
> @Jeffpilot2000 said:
> It's now May 2021. Does Quicken have an ETA as to when it will offer crypto tracking? The cryptos market is booming and offering a tool to help track a crypto portfolio would be a great selling point for those not familiar with Quicken. I know for one...I would appreciate it! :-)
The current status is unacceptable. The Quicken team has to have some idea when this is going to be implemented... like what's the priority on the PDP?1 -
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> @sime3000 said:
> The market cap for Ethereum is currently around 450 billion dollars and 1.1 trillion for BitCoin.
> Three and a half years and no action on this? Right now, I'm only looking to get updated Ethereum quotes. Ethereum quotes are available from many sources and I suspect it would take Quicken developers a few minutes to implement a quote for Ethereum in Quicken - so after 3+ years its obvious that Quicken is deliberately ignoring digital currency against the wishes of its customers. I understand that there are tedious manual workarounds available but that's not why we purchased Quicken, otherwise we could track our finances via spreadsheets instead of purchasing Quicken. I just paid Quicken another yearly renewal fee $$ and Quicken is not helping me or its other customers.
To me the quote thing is a minor issue. I added the cryptos to the currency list and can update that. More important is the number of decimals. Using the current systems, no crypto can be accurately entered.0 -
INDEX:ETHUSD200 will give you pricing for ETH (short some decimal places) and INDEX:NYXBT will give you BTC the same way. It's not perfect, but it's a start.Quicken user since 19933
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BTC is here and will stay for sometime. More and more Companies are supporting it. So Quicken should give us a date to support it. Sooner than later.1
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And the S&P joins to compete against existing Crypto indexes from Bloomberg and Galaxy.
https://www.coindesk.com/sp-goes-live-with-bitcoin-ethereum-crypto-indexes
Where is Quicken on supporting us?1 -
That my friend is a good question!! As far as I can tell it’s radio silence from Quicken.
My Fidelity investment advisor is pushing me to move to their personal financial management software.3
