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

[BubblePopper]

Seems like 5000$ is not a dream anymore

Now 100 sats = $1.00 is the dream
Wake me up when we've arrived

If 5k touched this week, likely a big sell off. 5200 is better

If we touch 4400 in next 24 hours I may go long (leveraged)

[1715391789]

1715391789

[1715391789]

1715391789

[BubblePopper]

I'd say we're overdue for 30% correction. But I don't condone it.

A 30% correction would not be out of order - however, I doubt that "overdue" is a very decent description of our current bitcoin status.

Also, I think that these various other alts are kind of fucking things up - meaning that it becomes a bit more difficult to discern the various money flows in and out of bitcoin and the strength (or lack thereof) of buying pressures in bitcoin.. I'm thinking at least one more leg up is in the more probable outcomes and then a 30% correction would be fair game from that point... lets get into the $5400 to $6400 range.. then possibly a 30% correction.. If we happen to shoot above $7k, then a 50% correction would be fair.

Well said. Around 7k is the cup and handle breakout target anyway.

[realr0ach]

#thegoyimknow

http://www.zerohedge.com/news/2017-08-30/global-outrage-after-japan-finance-minister-said-hitler-had-right-motives

[BlindMayorBitcorn]

I'd say we're overdue for 30% correction. But I don't condone it.

A 30% correction would not be out of order - however, I doubt that "overdue" is a very decent description of our current bitcoin status.

Also, I think that these various other alts are kind of fucking things up - meaning that it becomes a bit more difficult to discern the various money flows in and out of bitcoin and the strength (or lack thereof) of buying pressures in bitcoin.. I'm thinking at least one more leg up is in the more probable outcomes and then a 30% correction would be fair game from that point... lets get into the $5400 to $6400 range.. then possibly a 30% correction.. If we happen to shoot above $7k, then a 50% correction would be fair.

I entered Bitcoin during the mother of all bear markets. I'm conditioned for doom.
You people merely adopted the doom, I was born into it.

...ahhh!  now those were the days!

We had some lels didn't we

[sirazimuth]

I'd say we're overdue for 30% correction. But I don't condone it.

A 30% correction would not be out of order - however, I doubt that "overdue" is a very decent description of our current bitcoin status.

Also, I think that these various other alts are kind of fucking things up - meaning that it becomes a bit more difficult to discern the various money flows in and out of bitcoin and the strength (or lack thereof) of buying pressures in bitcoin.. I'm thinking at least one more leg up is in the more probable outcomes and then a 30% correction would be fair game from that point... lets get into the $5400 to $6400 range.. then possibly a 30% correction.. If we happen to shoot above $7k, then a 50% correction would be fair.

I entered Bitcoin during the mother of all bear markets. I'm conditioned for doom.
You people merely adopted the doom, I was born into it.

...ahhh!  now those were the days!

damn straight!! i was home mining for a year  (3/2015 - 3/2016)during that seemingly endless bear market ... at a loss no doubt.  
thank (mythical) god I sold the miner (S4 )... NOT the coins.

[JayJuanGee]

Nonsense. If the market moves strongly to Bitcoin Cash over Bitcoin Core, then the narrative that 'Bitcoin Cash is The Real Bitcoin' will have been proven true.

It's not a matter of Bitcoin(TM) brand, but who controls the toy. Would you invest in anything hijacked by the 3 stooges?

my problem with selling bitcoin cash and moving it to BTC proper is taxes. IF I ignore it the IRS may call it a stock split...
if I dork with it and move/sell or whatever they may say it is money from air (like mining) and want 47% income tax.
(yeah I'm in that bracket)

so I'm just leaving it alone and playing ignorant (along with my bytetball, bitcore, clams and any other air dropped stuff to my BTC addresses
I just know if I cash out ...that will count as a tax event ..even if I move it in like kind to btc....they will call it mining...or income

from air and tax it like mining....just saying..its the IRS...they really don't like money from air (mining) in the usa..I think they will tag
this as such if you move it....sell it...or whatever..the 2013 IRS guidelines were released 10 days before the tax deadline in 2013....so
I am cautious..(The IRS no like us much me thinks)

why I'm on the fence or my strategy at this time

I think that your perspective is a bit off, and maybe your accountant is causing you these kinds of fears.  Personally, I am of the belief that you can call it whatever the fuck you want and to cause your own tax reality from it, and in that regard you should be proactive and don't let tax consequences screw you up from doing what is in your own best financial interest.

So, in that regard, the limit in what you can call it would be whether what you are doing or categorizing is a reasonable interpretation... and there are a variety of ways to be reasonable when it comes to BCH  and possibly forgoing a 12% profit does not seem either prudent or reasonable to me... in that respect, I am thinking that get it while you can - because 12% is decent - as compared to possibly getting below 5% - on the other hand, if you really think that BCH prices could go up, then surely, you can gamble on that uncertainty, but a bird in hand seems better than two in the bush - especially with such a low level of BCH support, at the moment - only those ill-informed fuck ups who feel that they missed the bitcoin boat or other pie in the sky fantasizers are believing that BCH has much of a chance of going beyond .2BTC any time in the near future.

[JayJuanGee]

What am I missing here searing? If you claim your bch and trade it for btc and top up your btc without selling for dollars what is the issue?

the IRS does NOT allow you get something for nothing..ie you mine you get to pay income tax on what you mine....they COULD do the same for BCH

it is MORE likely they would simply count it as a stock split or as you say BCH to BTC for like kind..but  for myself..if they do not....I'd rather be in

a position where I did nothing..then move it about to btc or cash or whatever and have them call it a 'taxable event' and owe them 50% on teh 800 usd

when it hit the world....also they have that nice capital gains of 20% if you hold a coin for 1 year or 1 day or if less than that 40% capital gains

to me not worth it..so will ignore...and hope you are correct or they treat it as a stock split

but again in 2013 they dumped the crypto guidelines 10 days before the tax deadline of april 15th that year

also the coinbase thing where they thought 400 folk were cheating taxes with bitcoin and wanted all info names etc from all accounts from coinbase

besides...BCH will likely survive as an alt...if btc ever hits 10k I'm sure BCH will be just fine at the 800 bucks it hit the world at

one other point....my bank in 2013 went after me as money laundering...when all btc was evil...i showed the SEC guy my CPA tax returns...so yeah

for the 12% more I could make..it is not worth the hassle....

and again IF I don't mess with it I suspect they will treat it as a stock split and you won't have to worry till you sell it

but we likely (its the IRS) won't know till 10 days before april 15th tax deadline in 2018 (its how they roll)

not saying I"m right...just my reaction at not having a clue on how this will pan out (or convinced otherwise)

You seem to not be helping yourself with your arguments against your own financial situation.

I think that if you are nervous about taxes, then you are likely leaving value on the table because of your nervousness, and the best is to take most of the BCH profits by selling most of the BCH and fold that value into your BTC holdings. 

I don't give a ratt's ass whether the IRS might possibly believe such BCH windfall to be a taxable event, there is no guidance on that point, so accordingly, unless you are actually cashing out, I would not claim folding in of extra BTC (gotten from BCH) as a taxable event. 

When you cash out later, that is another story, and at that point you can figure out and account for your BTC cost basis for whatever BTC you are cashing out, blah blah blah, which then would be the taxable event. 

If your accountant is telling you otherwise or does not have any reasonable plan in which you could fold those BCH into BTC, then maybe it is better to find a more "creative" accountant?

[JayJuanGee]

Nonsense. If the market moves strongly to Bitcoin Cash over Bitcoin Core, then the narrative that 'Bitcoin Cash is The Real Bitcoin' will have been proven true.

It's not a matter of Bitcoin(TM) brand, but who controls the toy. Would you invest in anything hijacked by the 3 stooges?

my problem with selling bitcoin cash and moving it to BTC proper is taxes. IF I ignore it the IRS may call it a stock split...
if I dork with it and move/sell or whatever they may say it is money from air (like mining) and want 47% income tax.
(yeah I'm in that bracket)

so I'm just leaving it alone and playing ignorant (along with my bytetball, bitcore, clams and any other air dropped stuff to my BTC addresses
I just know if I cash out ...that will count as a tax event ..even if I move it in like kind to btc....they will call it mining...or income

from air and tax it like mining....just saying..its the IRS...they really don't like money from air (mining) in the usa..I think they will tag
this as such if you move it....sell it...or whatever..the 2013 IRS guidelines were released 10 days before the tax deadline in 2013....so
I am cautious..(The IRS no like us much me thinks)

why I'm on the fence or my strategy at this time

in a stock split, you are not gifted "free money"
 and BCC was NOT free money... someone bid the price up to give it that value. A stock divided the amount of shares by the same amount the price is multiplied by... no wealth is gained. Same thing happened with BCC.

Reason it feels like you made money (is because you did) is the moment it released it was pumped from $15 to $1500. Someone gave BCC its value and took value from the FOMO buyers above $1000 when they dumped.

It wasnt magic money t hough, someone pumped it. If that didn't happen it would be trading at $15 or whatever it opened at.

I doubt that Searing or anyone else is arguing that a tax event takes place from the mere split or whether the value is $15, $1500 or some other value.  Searing seems to be arguing that if he sells the BCH and gets more BTC for them, then that creates a taxable event, and I doubt the tax matter is that black and white.  There are likely a variety of ways to NOT consider splitting off the BCH or converting them to be taxable events, and sure each person is going to have his/her own comfort level regarding when and how to account for the taxable event.

[gembitz]

What am I missing here searing? If you claim your bch and trade it for btc and top up your btc without selling for dollars what is the issue?

the IRS does NOT allow you get something for nothing..ie you mine you get to pay income tax on what you mine....they COULD do the same for BCH

it is MORE likely they would simply count it as a stock split or as you say BCH to BTC for like kind..but  for myself..if they do not....I'd rather be in

a position where I did nothing..then move it about to btc or cash or whatever and have them call it a 'taxable event' and owe them 50% on teh 800 usd

when it hit the world....also they have that nice capital gains of 20% if you hold a coin for 1 year or 1 day or if less than that 40% capital gains

to me not worth it..so will ignore...and hope you are correct or they treat it as a stock split

but again in 2013 they dumped the crypto guidelines 10 days before the tax deadline of april 15th that year

also the coinbase thing where they thought 400 folk were cheating taxes with bitcoin and wanted all info names etc from all accounts from coinbase

besides...BCH will likely survive as an alt...if btc ever hits 10k I'm sure BCH will be just fine at the 800 bucks it hit the world at

one other point....my bank in 2013 went after me as money laundering...when all btc was evil...i showed the SEC guy my CPA tax returns...so yeah

for the 12% more I could make..it is not worth the hassle....

and again IF I don't mess with it I suspect they will treat it as a stock split and you won't have to worry till you sell it

but we likely (its the IRS) won't know till 10 days before april 15th tax deadline in 2018 (its how they roll)

not saying I"m right...just my reaction at not having a clue on how this will pan out (or convinced otherwise)

You seem to not be helping yourself with your arguments against your own financial situation.

I think that if you are nervous about taxes, then you are likely leaving value on the table because of your nervousness, and the best is to take most of the BCH profits by selling most of the BCH and fold that value into your BTC holdings. 

I don't give a ratt's ass whether the IRS might possibly believe such BCH windfall to be a taxable event, there is no guidance on that point, so accordingly, unless you are actually cashing out, I would not claim folding in of extra BTC (gotten from BCH) as a taxable event. 

When you cash out later, that is another story, and at that point you can figure out and account for your BTC cost basis for whatever BTC you are cashing out, blah blah blah, which then would be the taxable event. 

If your accountant is telling you otherwise or does not have any reasonable plan in which you could fold those BCH into BTC, then maybe it is better to find a more "creative" accountant?

BCH is libertarian tax-free type group ?    >.>moon&marzz bchzzz

[JayJuanGee]

A 30% correction would not be out of order - however, I doubt that "overdue" is a very decent description of our current bitcoin status.

Also, I think that these various other alts are kind of fucking things up - meaning that it becomes a bit more difficult to discern the various money flows in and out of bitcoin and the strength (or lack thereof) of buying pressures in bitcoin.. I'm thinking at least one more leg up is in the more probable outcomes and then a 30% correction would be fair game from that point... lets get into the $5400 to $6400 range.. then possibly a 30% correction.. If we happen to shoot above $7k, then a 50% correction would be fair.

I entered Bitcoin during the mother of all bear markets. I'm conditioned for doom.
You people merely adopted the doom, I was born into it.

What if I told you JayJuanGee posts caused the bear market.

@BBM - what you talking about?  Entering BTC during 2014? and then suffering through that whole year of bear? and also 2015 was largely bearish too, until towards the end, no? 

Many of us who had been buying through 2013, 2014 and 2015 are in similar situations.... we kind of have fears about being dumped upon.. however, those fears are largely irrational because times they are achanging.. and we are likely going to continue in a bull market for a bit longer.  Don't you think?

@ the supposedly new and improved roach...    NOT............................    RR:  How the fuck could my posts be correlated to anything in the market?  I have been posting pretty consistently since February 2014 through both bear and bull markets .. and I post about the good, the bad and the ugly - even though largely I have remained fairly optimistic about the upside potential of bitcoin, even through those relatively bearish times in 2014 and 2015, and subsequently, too, which is maybe less of a point since more or less after May 2016, the market confirmed that we were likely moving out of the bear market and subsequently the market confirmed that we had really been in a bull market since about October 2015, no?  Tell me I am wrong.

[JayJuanGee]

Seems like 5000$ is not a dream anymore

Seems like $5000 is right around the corner, and decent chances within the next week or two, also.

Surely, no price direction is "a given" or "for sure," but we seem to have continued and ongoing upwards price pressures that could deliver $5k to us soon^TM


Edit:

By the way, guys, I find this strange as fuck.  I just looked on Stamp, and there are only 1150BTC for sale (on the books) up to $5050. 


Strange?

Frequently, walls can be a reverse indicator, so I have a hard time really believing that we might just whiz past $5k without any fight at all? 

On the other hand, as you might have noticed from my earlier post today, I am currently thinking that the next resistance point (not sure about how strong it is going to be) will be in the $5400 to $6400 arena (possibly half way through would be around $5900, to be more precise).  anyone?

[deepcolderwallet]

heres some info ill share with you all since im such a nice guy....

https://www.reddit.com/r/btc/comments/6wxbsg/3000_btc_from_jan_2010_was_just_moved_to_sw/

theres more btw....

now, as for the bet, its only for my trollbro becoin  

I don't interpret it as a imminent dump threat. Au contraire, looks like Satoshi has adopted SegWit and moved part of his stash to a SegWit address.

That's bullish!

SATOSHI NAKAMOTO LOVES SEGWIT!

[deepcolderwallet]

Is crypto dead?

York back from hell!

[RealMachasm]

Another hacked account!!
Please ignore anything from Machasm, at least till I get my account back if ever.

-----BEGIN BITCOIN SIGNED MESSAGE-----
My account machasm has been hacked. The current date is 31/08/2017.
17TiFR9SCS1bhjXWUDHSx7hn96M5HhsFgN
-----BEGIN SIGNATURE-----
IAOUwfuH/1aB2CavGqiGF5hTsavQ+SY/i1K0Pru2QupsWT+ctde4Q/9HIp1cc5+vEulGvF/9dk5DKDLxUTjpvbc=
-----END BITCOIN SIGNED MESSAGE-----

Here is the unedited post where I posted that address:
https://bitcointalk.org/index.php?topic=996318.msg21177226#msg21177226

[BlindMayorBitcorn]

Who's next to get hacked? I bet it'll be Jimbo

[BlindMayorBitcorn]

@BMB - what you talking about?  Entering BTC during 2014? and then suffering through that whole year of bear? and also 2015 was largely bearish too, until towards the end, no? 

Many of us who had been buying through 2013, 2014 and 2015 are in similar situations.... we kind of have fears about being dumped upon.. however, those fears are largely irrational because times they are achanging.. and we are likely going to continue in a bull market for a bit longer.  Don't you think?

Battered Bitcorn Syndrome. It's a thing.

[marcus_of_augustus]

yeah I'm good, hey listen I quit

[BlindMayorBitcorn]

yeah I'm good, hey listen I quit

I've never seen that movie. What kind of job does he give him?

Also, I finally got around to watching the first few minutes of 300. Why would the Persian messenger stand in front of a giant open pit?

I think it's time to revisit some of these memes for accuracy.

[Mrpumperitis]

heres some info ill share with you all since im such a nice guy....

https://www.reddit.com/r/btc/comments/6wxbsg/3000_btc_from_jan_2010_was_just_moved_to_sw/

theres more btw....

now, as for the bet, its only for my trollbro becoin  

I don't interpret it as a imminent dump threat. Au contraire, looks like Satoshi has adopted SegWit and moved part of his stash to a SegWit address.

That's bullish!

SATOSHI NAKAMOTO LOVES SEGWIT!

afaik, 1000btc have been sold so far
https://blockchain.info/address/33ZgKQ9XSZQEum5JFqNTpqGTkQR4Zdtyve
the comments should be read, it makes a nice change from this echo chamber 

[JayJuanGee]

yeah I'm good, hey listen I quit

Gosh, the last few months have considerable potential for inspiring such dramatic severance of whatever we have been doing previously.  O.k.  Yeah, things were going pretty good to go from $250 to $1000 in less than 2 years, but then the $1000 doubled and then tripled and then quadrupled - so yeah, things gotta be going pretty well for anyone who had been a hodler and/or accumulator in the triple digit price arena, no? 

Profits have multiplied as long as you had enough forbearance to NOT sell too early... don't sell too much and don't sell too early and have enough to realize decent profits when the price explodes upwards - seems to be our current status, no?