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

[BitcoinNewsMagazine]

Once the $3800 low was in it is possible to draw a new set of Fibonacci extensions on the 4 hour chart:



The local extensions show $4770 as important resistance if $4400 is taken out. The monthly extensions I posted earlier still predict $7079 on a longer time frame.

[bitserve]

Nice, But what does it mean? That $7079 would be the maximun price scenario or that it is a big probability scenario?

[julian071]

I'm surprised to hear of all your tax problems. Here in NL I only pay 1.2% annually on the worth of my stash on jan. 1st. No tax on the gains I make whatsoever.

By the way, https://www.cryptocoinsnews.com/european-retail-giant-alza-will-deliver-your-tesla-tomorrow-for-bitcoin/

[fabiorem]

Bravo sir.

Personally, I like the idea that I will live longer than the US government will exist. At that point I can cash out into whatever I want to and not have to pay taxes on it.

I don't want luxury or "nice things". I want to live for hundreds of years and travel to new worlds. That will take money.

If you are loaded you can already renounce US citizenship and take another one, ideally in a country which does not tax foreign capital gains.

...you still pay an exit tax.

I'm also trying to get my head around my tax situation - guess its a good position to be in. I'm seeing an accountant next week.

Not much that can be done. I've looked into as many tax loopholes as I can. I even had all of the paperwork ready to create an offshore business to funnel my bitcoins through but the controlled foreign corporation rules require any foreign corporation where you own 50% of requires you to declare capital gains that the company gets immediately even if the company does not distribute it to you.

There are some companies that allow you to take out a loan on your stock options (which fixes the price) where they "hold" the stocks and you "fail to pay back the loan".

Living overseas you can withdraw $38k per year and pay zero capital gains as long as you have no other income.

Though a really good tax lawyer could probably figure something out. Tax "loopholes" are legal ways of not paying taxes that the tax legislators just haven't noticed yet.

If your accountant tells you that there's no getting around paying capital gains taxes he's really saying there's know way -he- knows of how to get around them. There is always a way especially the more money you have.

Impressive. And they call capitalism "free", its very far from that. It is kind of a mafia of banks, states and big corporations.

The only way to free capitalism and let it be what it was intended to be, is to smash down this structure of taxes.

[BitcoinNewsMagazine]

Nice, But what does it mean? That $7079 would be the maximun price scenario or that it is a big probability scenario?

Fibonacci gives targets for traders to enter or take profits. It was very accurate in predicting $4400 but does not guarantee the market will follow through and advance to $7000. I pointed our earlier that $7000 is lower probability based on previous cycles. masterluc thinks we are headed to $15000 from his posts on a Russian forum (use Google Translate.)

[lightfoot]

I'm surprised to hear of all your tax problems. Here in NL I only pay 1.2% annually on the worth of my stash on jan. 1st. No tax on the gains I make whatsoever.

By the way, https://www.cryptocoinsnews.com/european-retail-giant-alza-will-deliver-your-tesla-tomorrow-for-bitcoin/

50btc is about double the price (100k). For that amount they should include a hooker and a mint.

[JimboToronto]

Good morning Bitcoinland.

I see we're consolidating quite nicely after yesterday's correction/profit-taking, forming a lovely wedge around $4.1k... currently $4118USD/$5236CAD (Bitcoinaverage).

It's good to see the bull run still alive, but at a slower pace.

Hopefully segwit activation will send it higher. My guess is that a lot of institutional money is waiting.

In the meantime it's nice to see that a lot of patient holders have made so much money that they're worried about tax implications. Congrats to all the Bitcoin nouveau riche.

[fabiorem]

I have been looking this site https://www.tradingview.com/symbols/BTCUSD/ and theres a lot of bearish predictions. I think most of them are biased and comes from people who lost the last train. However, I see there is some resistance around 4300-4400, so maybe it will fall to 3700-3800 as some traders might lose their patience and sell.

[Icygreen]

We are talking about a whole new payment system/platform and a store of value that is by far superior to any existing financial system and store of wealth (gold sucks FYI).

 If I have a gold or silver coin sitting on the table, I do not have to pay extortion fees to some miner just to be able to spend it.  

But you'll need to transport that gold or silver coin to the person accepting it. How much does that cost? You gonna use the post office or perhaps try to conceal it through an airport? Lets say you get that person in front of you with your coin. You gonna hack it up to make change or are you cashing out for fiat in a lump sum?  Really Roach, we are already in a digital age and currency is going digital also. Ask a millennial if they think value should be stored digitally online or in a physical coin, metal, paper bill, etc. You're either stuck in your long held belief system or paid to spread FUD as crypto grows.  

[podyx]

Triangle broken up, $5k coming to you live soon

[JimboToronto]

Yeehaw.

[protokol]

Yeehaw.

 

Weird move that one. Seems like someone/some people just decided to market buy 700 BTC at once, for some reason... EDIT: and that was just on Bitstamp...

EDIT2: Looks like the move started a little earlier on the Chinese exchanges (OKcoin and BTC China), then probably bots on Finex and Bstamp carried on the move upwards? The next few hours might be interesting.

[soullyG]

Get ready folks..

[Dakustaking76]

Get ready peeps

The train is moving again.... 🚂🚂🚂🚂🚂🚂

[HanvanBitcoin]

i went away for 15 minutes from my pc, come back and BTCOOM  

Here we go again! Enjoy the ride my friends!

[bitserve]

Triangle broken up, $5k coming to you live soon

Good call

[Lauda]

Either someone knows something or this is just the usual movement. Correction over with a low of $3800? If we break $4.4k this time, expect $5-$7k to be the next top (if not more). My $4k (evil this time) gif (late):

Bitstamp | There are currently 1337.2975 bitcoins offered at or under 4500.0 USD, worth 5883234.75649 USD in total. | Data vintage: 12.2518 seconds

Leet number of Bitcoins till $4500. What does that tell us?

[protokol]

That 30min green candle is just ridiculous, surely the price has to come down at least by $100 before another move up. Right?

Then again, this is bitcoin so w/e 

[arklan]

Holy shit that was a big buy. I'm on my phone with just the ticker widget... Was that 700 coin on stamp? What the hell happened? Did we just break resistance or was there some news?

[r0ach]

We are talking about a whole new payment system/platform and a store of value that is by far superior to any existing financial system and store of wealth (gold sucks FYI).

If I have a gold or silver coin sitting on the table, I do not have to pay extortion fees to some miner just to be able to spend it.  

But you'll need to transport that gold or silver coin to the person accepting it. Ask a millennial if they think value should be stored digitally online or in a physical coin

Ask a "millenial"? HAHAHAHAHAHA

Yes, let me consult some reverse evolution millenial children with mental disorders that check their iphone over 200 times per day on important financial matters.  No, we do not live in a "digital world" you millenial cucks. I keep seeing you people constantly spam this propaganda now (probably govt shills who want to de-cash society so they can have their slave control grid).  If your life is "digital" then you have no life because the digital world is mostly meaningless and imaginary.  Probably why Zerohedge ran a story the other day talking about how the suicide rate for all these dumb millenial kids is off the charts.

It doesn't matter what the millenial bolsheviks want.  There are concrete, objective traits that will always move the invisible hand of the market to a predetermined destination which anyone who is capabale of doing real fundamental analysis already knows the answer to.  You people have done literally zero homework on fundamental analysis and don't even know it's not possible to create a decentralized digital currency in the first place. "Distributed"(meaningless), yea; "decentralized", no.

PoW is designed to centralize while PoS starts centralized and becomes even more so over time.  They should both be called proof of monopoly.