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

[JayJuanGee]

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 

Do you have specific comments in mind that you would like folks to read?  Have you figured out whose coins they are?  they were mined in January 2010 and they were never moved until today.  O.k?  Speculation that they are Satoshi's coins, but possibly not, too, right?  What is the significance?  Someone mining in January 2010 and got several rewards of 50 coins... what else is there to this story?

[1715385488]

1715385488

[jbreher]

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...

Granted, we're in somewhat uncharted territory here, but I really don't see what the problem is. For 'merkans, probably the closest model is a corporate spinout - like when HP (HPQ) split into HP Inc and HPE. On the day of the split, the cost bases were adjusted (or determined). The value of HP Inc stock plus HPE stock at t=0+ was equal to the value of HPQ at t=0-. No taxable event, just an accounting adjustment to the cost basis for when you actually do sell.

Of course, when you do sell, that is a taxable event. Did you expect otherwise? Of course the IRS is gonna get a share of your windfall. But using this model*, the tax would be owed upon the gain, which would be based upon the cost basis determined at the fork -- not on the entire value of what you are selling.

*Again, this is likely uncharted territory. But this is a perfectly fine model. I can't imagine anything closer. Can you?

[jbreher]

If BCH succeeds in killing BTC, then:
1) There will be a general crash in crypto because it will be proved that they can be killed by such attacks; and
2) There are many better coins than BCH to play with.

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.

That is a BIG fucking
IF ,
Jbreher.

Hey, now. It's not my 'if' - it's coinosphere.tk's 'if'. I didn't set up the hypothetical. I was just fixing the conclusion.

[Elwar]

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...

Granted, we're in somewhat uncharted territory here, but I really don't see what the problem is. For 'merkans, probably the closest model is a corporate spinout - like when HP (HPQ) split into HP Inc and HPE. On the day of the split, the cost bases were adjusted (or determined). The value of HP Inc stock plus HPE stock at t=0+ was equal to the value of HPQ at t=0-. No taxable event, just an accounting adjustment to the cost basis for when you actually do sell.

Of course, when you do sell, that is a taxable event. Did you expect otherwise? Of course the IRS is gonna get a share of your windfall. But using this model*, the tax would be owed upon the gain, which would be based upon the cost basis determined at the fork -- not on the entire value of what you are selling.

*Again, this is likely uncharted territory. But this is a perfectly fine model. I can't imagine anything closer. Can you?

It could be considered a like-kind exchange.

Though...getting the additional coins in the first place...income? dividend? magic?

[elrippos friend]

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

The admins in here don't seem to care about hacked accounts lately, waiting for an awnser since june 

[jbreher]

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...

Granted, we're in somewhat uncharted territory here, but I really don't see what the problem is. For 'merkans, probably the closest model is a corporate spinout - like when HP (HPQ) split into HP Inc and HPE. On the day of the split, the cost bases were adjusted (or determined). The value of HP Inc stock plus HPE stock at t=0+ was equal to the value of HPQ at t=0-. No taxable event, just an accounting adjustment to the cost basis for when you actually do sell.

Of course, when you do sell, that is a taxable event. Did you expect otherwise? Of course the IRS is gonna get a share of your windfall. But using this model*, the tax would be owed upon the gain, which would be based upon the cost basis determined at the fork -- not on the entire value of what you are selling.

*Again, this is likely uncharted territory. But this is a perfectly fine model. I can't imagine anything closer. Can you?

It could be considered a like-kind exchange.

If they did not go through fiat, certainly I would argue. But I thought the discussion was cashing out of Bitcoin Cash.

Though...getting the additional coins in the first place...income? dividend? magic?

No - a spinout as described above. These things happen to stocks from time to time. Use that model. Hence, my HP example.

[JayJuanGee]

If BCH succeeds in killing BTC, then:
1) There will be a general crash in crypto because it will be proved that they can be killed by such attacks; and
2) There are many better coins than BCH to play with.

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.

That is a BIG fucking
IF ,
Jbreher.

Hey, now. It's not my 'if' - it's coinosphere.tk's 'if'. I didn't set up the hypothetical. I was just fixing the conclusion.

Fair enough.....

And, concededly none of these "if"s are really fleshed out very well... in terms of how we supposedly would arrive at such an hypothetical state of affairs, which the route there also has a lot of variables and even could affect the outcome depending on the route travelled.

[edited out]

If they did not go through fiat, certainly I would argue. But I thought the discussion was cashing out of Bitcoin Cash.

Actually, you could be correct that whether one cashes out into bitcoin is one thing or cashes out into cash is another thing; however, if one leaves the cash on the exchange then that is another thing too.... so one thing is having a "taxable" event, and another thing is having a traceable event.

[Karartma1]

BearStamp says $4601.93: still $400 to go if we have to reach 5k.
Volume is low we need more useless fiat money into the game to destroy the $5000 mark. Or altcoin holders should go back to btc for good

[AlcoHoDL]

A very good morning to all,

Bitcoin Euro-ATH was broken several times since y'day... Now at 3898 €/BTC (Kraken).  

Bitcoin Cash is also gaining slightly, now at 491 €/BCH (Kraken).

So, it seems the current poll will be (pleasantly) proven wrong... Let's hope there won't be any major dump coming. I know 10k € (a 2.5x increase) seems too optimistic for the end of the year, but you never know, it happened last year, why not this year too?

[ErisDiscordia]

We're a few USD from the ATH and yet...



EDIT: New ATH at Stamp

[empowering]

Hype cycle in full effect...

Bitcoin Is The New 'Gold'  (Peter Schiff and R0ach spinning in their graves)
https://www.forbes.com/sites/panosmourdoukoutas/2017/08/30/bitcoin-is-the-new-gold/#52c2d52c3b36

https://www.forbes.com/sites/naeemaslam/2017/08/29/is-it-time-to-own-gold-or-bitcoin/#36c5374d7f5d

https://www.forbes.com/sites/kenrapoza/2017/08/30/moscow-stock-exchange-opens-to-crypto-currency-trade/#62b6ba5726d1

(^^ Apparently forbes wants to write about BTC everyday -sometimes twice a day! )

Hype Tsunami...

That is just Forbes and from a few days.... search Google for Bitcoin forbes and its ....relentless... andthat is just them...the MSM attention is relentless..

Also - the Russians fakeout "we are considering clamping down on cryptos and banning them"  FAKEOUT ! we will create worlds  first Crypto stock market !! Stick  that in your never ending ETF pipe and smoke  it !! slow coaches!! you snooze you lose !!


 

 

[1982dre]

They wanna go up on BitStamp. Small 100 wall was eaten damn quickly.

[Spaceman_Spiff_Original]

Looks poised for another leg up.

[soullyG]

New ATH 

[Wexlike]

Another day, another ATH. What a boring year. 

[becoin]

New ATH! Damn! I have still some BCH to sell.

[ShroomsKit_Disgrace]

New ATH! Damn! I have still some BCH to sell.

Interesting to note that, this time, as BTC just made a new ATH, the altcoins in general did not suffer considerably. Is this the starting leg for a new monster altcoin rally?

[empowering]

New ATH! Damn! I have still some BCH to sell.

Interesting to note that, this time, as BTC just made a new ATH, the altcoins in general did not suffer considerably. Is this the starting leg for a new monster altcoin rally?

Very possible -  especially the top 20 (I wonder if the top 10- and top 20 and the rest of the market will separate)


(pps I expect more indexes to pop up like http://www.bittwenty.com/ (and others)  and more fund managers to allocate funds to them)

[Wekkel]

$10k estimates for this run will prove too low.

[empowering]

Six of the world’s biggest banks have joined a project to create a new form of digital cash that they hope to launch next year for clearing and settling financial transactions over blockchain, the technology underpinning bitcoin.



https://www.ft.com/content/20c10d58-8d9c-11e7-a352-e46f43c5825d


Such innovation!

Such wow!