Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[N12]

All hail Satanoshi!

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[simmo77]

Anyone here actually think that the $670 and/or the $675 wall will be eaten?

I think if any decent bites get taken, those walls will come down faster than a honeymooner's knickers...

[Cassius]

What i miss? Oh we're still at 666 ok going back to sleep

I prefer to think of it as "the 665-667 range".

 

We're currently at "Neighbour of the Beast".

[freebit13]

This is out of 330 million, right? The numbers are insignificant compared to the population. Still, it may indicate that someone knows something others don't.

You miss the point.

Interesting to see the connection between the IRS and renunciation of citizenship... could it be that the sovereignty movement is catching on and people are slowly realizing that nobody has the legal right to tax you (unless you consent of course)?

[adamstgBit]

Anyone here actually think that the $670 and/or the $675 wall will be eaten?

does a bear shit in the woods?

[kodtycoon]

when you guys cash out big bucks.. do ye pay the capital gains or what? im wonderin how to get around that lol

in the u.s., hold everything in a roth vehicle.  requires foresight.

Looks like he's in the UK (hello...)
As far as I can tell, you're taxed on income at the exchange rate at the time of earning.
Then if your bitcoins appreciate and you cash out, you are liable for capital gains on them, minus the £10k allowance of course.
There may will of course be ways around this for the tax savvy. I just haven't needed to find out yet.

ireland actually.. its really a grey area here.. no official statement has been released as to how to handle the tax on cryptos.. and also.. it they state bitcoin and not cryptocurrencies.. would that not be a loop hole so i can sach out to euro from another crypto?

[Cassius]

when you guys cash out big bucks.. do ye pay the capital gains or what? im wonderin how to get around that lol

in the u.s., hold everything in a roth vehicle.  requires foresight.

Looks like he's in the UK (hello...)
As far as I can tell, you're taxed on income at the exchange rate at the time of earning.
Then if your bitcoins appreciate and you cash out, you are liable for capital gains on them, minus the £10k allowance of course.
There may will of course be ways around this for the tax savvy. I just haven't needed to find out yet.

ireland actually.. its really a grey area here.. no official statement has been released as to how to handle the tax on cryptos.. and also.. it they state bitcoin and not cryptocurrencies.. would that not be a loop hole so i can sach out to euro from another crypto?

That is a very interesting point. NXT is about to get a fiat exchange and that raises possibilities for me...
I suspect they'd take a dim view and I vaguely recall "bitcoin and bitcoin-like" language, but you might be onto something.  But if there's no regulation for Ireland then I guess you might get away with it. I'd still be inclined to put the relevant percentage in a safe interest-paying asset, in case they come knocking retrospectively.

[Richy_T]

This is out of 330 million, right? The numbers are insignificant compared to the population. Still, it may indicate that someone knows something others don't.

You miss the point.

Interesting to see the connection between the IRS and renunciation of citizenship... could it be that the sovereignty movement is catching on and people are slowly realizing that nobody has the legal right to tax you (unless you consent of course)?

Meh, I suspect most of it is just that people want to move elsewhere and don't want the IRS permanently attached. Some will see some tax advantages (legal or otherwise) from renouncing citizenship and some will avoid legal issues by doing so (the aforementioned account closures for example). Some likely have never set foot in (US) America (A whole lot of Canadians are American citizens by virtue of one or more parent, for example) and are finding their lives complicated by these intrusive laws.

It is not a huge amount of people as yet, it's true. But it's indicative and the majority of these people are likely bright and high earners. They are taking their wealth and acumen elsewhere. Not to mention that the US was meant to stand for freedom and all that whatnot (Yes, that hasn't been the case for some time).

[kehtolo]

when you guys cash out big bucks.. do ye pay the capital gains or what? im wonderin how to get around that lol

in the u.s., hold everything in a roth vehicle.  requires foresight.

Looks like he's in the UK (hello...)
As far as I can tell, you're taxed on income at the exchange rate at the time of earning.
Then if your bitcoins appreciate and you cash out, you are liable for capital gains on them, minus the £10k allowance of course.
There may will of course be ways around this for the tax savvy. I just haven't needed to find out yet.

ireland actually.. its really a grey area here.. no official statement has been released as to how to handle the tax on cryptos.. and also.. it they state bitcoin and not cryptocurrencies.. would that not be a loop hole so i can sach out to euro from another crypto?

I don't see why not. And don't worry, the Irish will follow whatever happens in Britain, eventually. Well that is the normal order of things, and I say that as an Irishman myself. Unsless an EU directive is released that changes that. Anyway.. you'd be right about the loophole, but i don't think they'll be THAT stupid (but it's Ireland, so ya never know!) i think eventually they'll come up with a bill copying Britain and call it virtual currency or cryptocurrency act or something. Until then, keep it small, and no one will know.
Unless you are self employed and do your own taxes, in which case you'd be liable for an audit if the DID suspect anything.
Otherwise, keep it small, and fly under the rada and they will never know.

[kodtycoon]

when you guys cash out big bucks.. do ye pay the capital gains or what? im wonderin how to get around that lol

in the u.s., hold everything in a roth vehicle.  requires foresight.

Looks like he's in the UK (hello...)
As far as I can tell, you're taxed on income at the exchange rate at the time of earning.
Then if your bitcoins appreciate and you cash out, you are liable for capital gains on them, minus the £10k allowance of course.
There may will of course be ways around this for the tax savvy. I just haven't needed to find out yet.

ireland actually.. its really a grey area here.. no official statement has been released as to how to handle the tax on cryptos.. and also.. it they state bitcoin and not cryptocurrencies.. would that not be a loop hole so i can sach out to euro from another crypto?

That is a very interesting point. NXT is about to get a fiat exchange and that raises possibilities for me...
I suspect they'd take a dim view and I vaguely recall "bitcoin and bitcoin-like" language, but you might be onto something.  But if there's no regulation for Ireland then I guess you might get away with it. I'd still be inclined to put the relevant percentage in a safe interest-paying asset, in case they come knocking retrospectively.

ya i was thinking that.. i was also thinking buy silver off asset exchange, get it shipped to my house(its an option provided by the issuer of silver tokens) and bring it to a bullion to sell. but would they sell it for cash? i preferably dont want it going into my bank..(reasons other than tax)

[ChrisML]

: eBay CEO: PayPal Will Have to Integrate Digital Currencies

MOON.

[MoreFun]

Bids are increasing, expect a tsunami 

[ChrisML]

666,-

MOON.

[Hunyadi]

Bids are increasing, expect a tsunami 

https://www.youtube.com/watch?v=I41CX0RdmPQ

[Cassius]

when you guys cash out big bucks.. do ye pay the capital gains or what? im wonderin how to get around that lol

in the u.s., hold everything in a roth vehicle.  requires foresight.

Looks like he's in the UK (hello...)
As far as I can tell, you're taxed on income at the exchange rate at the time of earning.
Then if your bitcoins appreciate and you cash out, you are liable for capital gains on them, minus the £10k allowance of course.
There may will of course be ways around this for the tax savvy. I just haven't needed to find out yet.

ireland actually.. its really a grey area here.. no official statement has been released as to how to handle the tax on cryptos.. and also.. it they state bitcoin and not cryptocurrencies.. would that not be a loop hole so i can sach out to euro from another crypto?

That is a very interesting point. NXT is about to get a fiat exchange and that raises possibilities for me...
I suspect they'd take a dim view and I vaguely recall "bitcoin and bitcoin-like" language, but you might be onto something.  But if there's no regulation for Ireland then I guess you might get away with it. I'd still be inclined to put the relevant percentage in a safe interest-paying asset, in case they come knocking retrospectively.

ya i was thinking that.. i was also thinking buy silver off asset exchange, get it shipped to my house(its an option provided by the issuer of silver tokens) and bring it to a bullion to sell. but would they sell it for cash? i preferably dont want it going into my bank..(reasons other than tax)

Interesting idea. I suspect that unless you're dealing with large amounts of money (which brings problems of its own) you'd lose a lot at various points for shipping/insurance and spread, both ends. But yes, I don't see why that would be a problem - again, small amounts you could sell for cash.
Of course, if your ex-wife found out, I expect she'd be even more angry than the Inland Revenue.

[GreekGeek]

Anyone here actually think that the $670 and/or the $675 wall will be eaten?

does a bear shit in the woods?

https://www.youtube.com/watch?v=uxPCxvxzujo

[freebit13]

Meh, I suspect most of it is just that people want to move elsewhere and don't want the IRS permanently attached. Some will see some tax advantages (legal or otherwise) from renouncing citizenship and some will avoid legal issues by doing so (the aforementioned account closures for example). Some likely have never set foot in (US) America (A whole lot of Canadians are American citizens by virtue of one or more parent, for example) and are finding their lives complicated by these intrusive laws.

It is not a huge amount of people as yet, it's true. But it's indicative and the majority of these people are likely bright and high earners. They are taking their wealth and acumen elsewhere. Not to mention that the US was meant to stand for freedom and all that whatnot (Yes, that hasn't been the case for some time).

I didn't realize there were so many citizens that weren't actually Americans (we can't hold dual citizenship where I'm from)... I guess the sharp increase since 2008 could also be attributed a moral stand taken due to Bush's election and the wars that have been started since then.

[kodtycoon]

@kehtolo

it wouldnt surprise me one bit if they did do something THAT stupid! iv learnt to never underestimate the lack of IQ among politicians in ireland. they sold off the rights to drill oil that was found in the irish sea to a foreign company for an absolute fraction of the value of the oil.. i think they would have gotten 100 times the value or more if they had just contracted a company in to drill it for them.. retards.. and now we pay extortionate prices for everything and pay the bill the feking bankers and property developers left behind them when they fekd off to spain! the one guy (quinn, private family owned company) who brought more jobs to ireland than some of the large corporations stayed in ireland. went broke. and ended up in jail while the other guys fekd off with their money scott free. i hope crypto brings governments crashing down.. its god damn personal at this stage!

@cassius

im going to look into how much can be exported from america and imported to ireland, and the amounts that can be sold for cash with in a certain period of time. i think that may be more viable than trying to stay under bank limits and it solves other issues too.

ps. im 22 and only a have a GF who doesnt care about the money so think im good on the x-wife side of things haha

[Cassius]

@cassius

im going to look into how much can be exported from america and imported to ireland, and the amounts that can be sold for cash with in a certain period of time. i think that may be more viable than trying to stay under bank limits and it solves other issues too.

ps. im 22 and only a have a GF who doesnt care about the money so think im good on the x-wife side of things haha

Ha! There aren't that many reasons other than tax, child maintenance payments and partners with access to joint bank accounts for keeping big payments secret (that I can think of right now, anyway). I just couldn't resist the shot in the dark. 

[ChartBuddy]

Explanation