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

[ChartBuddy]

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[1714649874]

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[1714649874]

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[wxa7115]

So, how long do you guys think we'll last below $250? Do you think we can hold on to somewhere between $240 and $260 until sometime October? This range does definitely seem great for buying and HOLDING purposes.

I plan to buy some bitcoin at the end of September; I think the 240-260 range is a good one to buy. I hope BTC doesn’t get that expensive until I buy.

[ChartBuddy]

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[ChartBuddy]

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[Asrael999]

here is something to make you shudder.

In New Zealand we have a current huge house price spike in part due to foreign investors "speculating' the price will go up even more.

As these people are hard to get at by the tax people (we have just introduced a capital gains tax they may 'avoid") the government is introducing a system where intermediaries have to get the tax.

see the article below.

Imagine if governments introduced that for bitcoin ie saying they do not know if the bitcoins being sent from person a to person b have been taxed properly or at all when with person a so they will ask for a 20% tax as it passes through an exchange (eg the soon to be approved twins one) or if person b is a recognisable entity eg a big retailer like amazon they will ask for the 20% from them. (Retailers already collect gst ( VAT) here so administratively it could be done overnight).

that might knock the current price of $200-$300 around a bit eh?  

they may be slow but tax collectors usually always get their way in the end

http://www.stuff.co.nz/business/opinion-analysis/71846181/new-withholding-tax-on-residential-land

Bitcoin has already been classfied as VAT exempt in multiple tax jurisdictions , don't go expecting anyone to classify it as a VATable.

[ChartBuddy]

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Explanation

[Fakhoury]

[pleaseexplainagain]

here is something to make you shudder.

In New Zealand we have a current huge house price spike in part due to foreign investors "speculating' the price will go up even more.

As these people are hard to get at by the tax people (we have just introduced a capital gains tax they may 'avoid") the government is introducing a system where intermediaries have to get the tax.

see the article below.

Imagine if governments introduced that for bitcoin ie saying they do not know if the bitcoins being sent from person a to person b have been taxed properly or at all when with person a so they will ask for a 20% tax as it passes through an exchange (eg the soon to be approved twins one) or if person b is a recognisable entity eg a big retailer like amazon they will ask for the 20% from them. (Retailers already collect gst ( VAT) here so administratively it could be done overnight).

that might knock the current price of $200-$300 around a bit eh?  

they may be slow but tax collectors usually always get their way in the end

http://www.stuff.co.nz/business/opinion-analysis/71846181/new-withholding-tax-on-residential-land

Bitcoin has already been classfied as VAT exempt in multiple tax jurisdictions , don't go expecting anyone to classify it as a VATable.

sorry did not mean to imply that it would attract VAT itself - just that as retailers have already been forced to be VAT collectors and have easily adjustable computerised sales recording systems so they can be be forced to add a bitcoin tax of say 20% as well as any VAT. ie if you pay by bitcoin it will cost you more for the item than fiat or credit card.
if I was anyone that was concerned about bitcoin hurting their business (eg bank? western union?) I would be getting my lobbyists onto the politicians saying that if people cannot prove how they got the money ie cannot prove it has already been taxed then they need to tax it at some point. It would of course lead to many anomalies (and cases of double taxation) but that is not their problem. In fact the more bitcoin seems hard/potentially unfair etc to use they more they win.
bitcoin has not yet been faced with the status quo fighting back . when it does it will be fierce and nasty. it will make the core/xt internal fight look like a walk in the park

[ChartBuddy]

Coin
Explanation

[kehtolo]

here is something to make you shudder.

In New Zealand we have a current huge house price spike in part due to foreign investors "speculating' the price will go up even more.

As these people are hard to get at by the tax people (we have just introduced a capital gains tax they may 'avoid") the government is introducing a system where intermediaries have to get the tax.

see the article below.

Imagine if governments introduced that for bitcoin ie saying they do not know if the bitcoins being sent from person a to person b have been taxed properly or at all when with person a so they will ask for a 20% tax as it passes through an exchange (eg the soon to be approved twins one) or if person b is a recognisable entity eg a big retailer like amazon they will ask for the 20% from them. (Retailers already collect gst ( VAT) here so administratively it could be done overnight).

that might knock the current price of $200-$300 around a bit eh?  

they may be slow but tax collectors usually always get their way in the end

http://www.stuff.co.nz/business/opinion-analysis/71846181/new-withholding-tax-on-residential-land

Bitcoin has already been classfied as VAT exempt in multiple tax jurisdictions , don't go expecting anyone to classify it as a VATable.

sorry did not mean to imply that it would attract VAT itself - just that as retailers have already been forced to be VAT collectors and have easily adjustable computerised sales recording systems so they can be be forced to add a bitcoin tax of say 20% as well as any VAT. ie if you pay by bitcoin it will cost you more for the item than fiat or credit card.
if I was anyone that was concerned about bitcoin hurting their business (eg bank? western union?) I would be getting my lobbyists onto the politicians saying that if people cannot prove how they got the money ie cannot prove it has already been taxed then they need to tax it at some point. It would of course lead to many anomalies (and cases of double taxation) but that is not their problem. In fact the more bitcoin seems hard/potentially unfair etc to use they more they win.
bitcoin has not yet been faced with the status quo fighting back . when it does it will be fierce and nasty. it will make the core/xt internal fight look like a walk in the park

Ok - I think this would be a stupid move by anyone (state etc.) - i think they would be prudent to take a wait and see approach and the lightest of regulation. Treat it as VAT exempt and see what happens.
The last thing a small economy like NZ wants is to scare off potential innovators, the risk of losing out on the 'next big innovation' in finance is too great.
Aren't Australia, despite initial misgivings turning more favourable towards bitcoin?  NZ is bound to follow.

[ChartBuddy]

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[Divitiae miserae]

What's driving this rally?

[kromtar]

Still waiting for double digit, smell like broke 

[hmmkay]

What's driving this rally?

People buying bitcoin. Stop looking for reasons every $5 drop or rise.

[Divitiae miserae]

Is there a thread which follows the price movement attended by less cognitively-impaired people?

[Wary]

Bitcoin has already been classfied as VAT exempt in multiple tax jurisdictions , don't go expecting anyone to classify it as a VATable.

In Australia bitcoin is currently VATable. New Zealand haven't decided yet, but it often follows their Aussie neighbor.

[LFC_Bitcoin]

245 this morning, interesting. I thought we were going to double digits

[hmmkay]

Is there a thread which follows the price movement attended by less cognitively-impaired people?

What a lovely insult. Your intellect truly knows no boundaries.

[LMGTFY]

Bitcoin has already been classfied as VAT exempt in multiple tax jurisdictions , don't go expecting anyone to classify it as a VATable.

In Australia bitcoin is currently VATable. New Zealand haven't decided yet, but it often follows their Aussie neighbor.

I believe that's no longer correct. (I think it may have changed fairly recently, to be fair - I seem to remember Australia being fairly hostile to Bitcoin until recently, and it may well have been subject to GST/VAT in the past).

[ChartBuddy]

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