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

[Karartma1]

Bearstamp @ $ 4287 and trading volume is slowing down. Unless something unexpected happens this is going to be a calm Sunday.
However, I was wandering without plans on the internet while searching for other stuff while I came across this page
https://www.investing.com/currencies/btc-usd-technical
I did not know about it and I am still very surprised to see that Investing covers so much the crypto world!

[1714674646]

1714674646

[JayJuanGee]

Guys, is hodl a paradox? When are we supposed to enjoy our riches? I've never had riches before. Should I be living in a richly place now? I've never lived in a richly place before.

I just don't know.

Some time back, I bought my wife an Instant Pot (fancy pressure cooker) with Bitcoin at a 25% discount via Amazon/Purse.io. Told her by using Bitcoin (which was already way up for me), it was the cheapest Instant Pot money could buy.    

Then Bitcoin quintupled.

Now she looks at the Instant Pot and says, "Most expensive fucking Instant Pot money could buy."    And sits there scheming over all the things she could have bought HODLing instead.

So yes. HODL is a paradox. Yes indeed.

Nevermind I bought all the dips on the way up. Nevermind I can retire early now. That fucking Instant Pot will always be my HODL reminder.

"Yes honey, it's a lovely house, but we could have bought a fucking castle, you idiot!"

Wow, glass so half empty there!

I bought my dream bike with some of my BTC gains 3 months ago, and even as I expect the market value to shoot the Moon, I will never look back and regret it. Of course I'm HODLing most of it.

Life is for living, yo.

Don't get me wrong - I don't have any regrets! Your Bitcoin ain't worth a thing if you don't spend it!

Just try explaining this concept to me wifey wife.    I don't know about yours, but mine expects perfect prescience.  

"You knew it was going to quintuple and you spent it anyway??"  

Nothing wrong with spending bitcoin.. but mostly you should be replacing any bitcoin that you spend in order that you pretty much keep up your investment allocation in bitcoin (or some kind of bitcoin fund that has dollars and bitcoin in it..... Currently, my bitcoin fund has about 92% bitcoin and 8% fiat.... Sometimes you can take money that you already have in your bitcoin allocated pot, and set buy orders for bitcoin (for whatever bitcoins that you spent) - or you can just buy right away, within a day of spending the bitcoins.. .

[btcbeliever]

1) set aside a small amount of Bitcoin for trading
2) make a series of laddered sell orders with your trading funds
3) as your orders get bought into, place buy orders of the dollar value of the sell, but at a lower bitcoin price
4) as your buys execute, enter sells at a higher bitcoin price
5) rinse and repeat. With volatility, the net effect is that your quantity of Bitcoin will grow
6) the net direction is up. You will over time accumulate a backlog of open buy orders that are unlikely to ever be bought into
7) as your open buy orders cross the threshold of implausibility, cancel them. Now they are cash.
8 ) you may or may not be bitcoin positive at this point. Either way, you are cash positive
9) when your pile of stinky fiat gets big enough that you don't know how to spend it, withdraw any remaining open sell orders.
10) Sit back and let bitcoin get pricier until the cash itch returns.

Now this is a nice revolving system. For the earliest adopters, there is the nice "got fiat even" milestone when you withdrew as much fiat as you put in. The milestone can be hit several times, depending on the timing of buys and sells.

How can you trade without generating 1099b and paying 30-50% to criminal irs? At least in ysa in high tax states

If you are asking me how you can safely break the law, I can't answer that for you. I skirt any such issues by claiming as cap gains, either short or long term, or as simple income, as each transaction is required by law.

Frankly, i agree with your assertion that the current application of tax law is criminal. But the courts that hear tax cases -- up through appeals courts -- do not allow any discussion of the conflict between the law as enacted, the executive branch regulations which are mere administrative interpretations of the law, and the IRS policies and procedures as encoded into forms and instructions. And the Supremes routinely refuse writ of certiorari on such cases.

As a consequence, I just keep my head down and play the game as they define it. There is essentially zero chance of making them toe the line of the law until that day when a majority of the populace wakes to how evil the system has become.

Looking at the dawning understanding of the evils of partial reserve banking amongst the people, I am encouraged to think that day may come before I draw my last breath.

I'd suggest you discuss with a qualified CPA or financial lawyer. That respects crypto. The intersection is pretty small, but growing.

I wasn't asking how to safely break 'the law' (Google and read the federal mafia by Irwin Schiff), but was questioning how you retain reasonable trading profits when combined taxes on short-term gains in mosf us states is close to 50%.

[Meuh6879]

and ... it's gone.

[gembitz]

Charlie has the better deal that's for sure; however, Roger probably does not give a shit because he has so much money and he is so filled with emotion, and he does not mind throwing away 250 BTC for this cause...... in order to replace that BTC with something that is lucky to have 1/10 the value...  Sure, a publicity stunt that may cost Roger around $1million... to trade BTC for what is likely to be our newest introduction of a shitcoin.

For some reason, 20 years from now I foresee Roger Ver as broke and homeless, having foolishly squandered all his Bitcoin and other money because he is an un-savvy, piss poor investor and money manager and often lets his emotions get the best of him. Kinda like those people who win the lotto, only to be completely broke a few years later.

He will be the rags-to-riches-back-to-rags story of this generation.

Tweeting that Charlie Lee is "economically ignorant" is not winning him more friends either.

but he is! that fool don't even answer questions on his own coins board..~just a common lurker   lol

[Meuh6879]

and I am still very surprised to see that Investing covers so much the crypto world!

that why 2018 will be explosive ... with the introduction of crypto part in the standards contrats for "average people".

all people will want crypto in her contrat.

[gembitz]

Guys, is hodl a paradox? When are we supposed to enjoy our riches? I've never had riches before. Should I be living in a richly place now? I've never lived in a richly place before.

I just don't know.

Some time back, I bought my wife an Instant Pot (fancy pressure cooker) with Bitcoin at a 25% discount via Amazon/Purse.io. Told her by using Bitcoin (which was already way up for me), it was the cheapest Instant Pot money could buy.   

Then Bitcoin quintupled.

Now she looks at the Instant Pot and says, "Most expensive fucking Instant Pot money could buy."     And sits there scheming over all the things she could have bought HODLing instead.

So yes. HODL is a paradox. Yes indeed.

Nevermind I bought all the dips on the way up. Nevermind I can retire early now. That fucking Instant Pot will always be my HODL reminder.

"Yes honey, it's a lovely house, but we could have bought a fucking castle, you idiot!"

If you paid with dollars then that would be 25% less dollars you would have to buy bitcoins.

You also perpetuate that bitcoin is only used for buying pot.

bitcoin is used for something other than buying drugs?    wow it's not 2012 anymore? ha

[Torque]

Tweeting that Charlie Lee is "economically ignorant" is not winning him more friends either.

but he is! that fool don't even answer questions on his own coins board..~just a common lurker  lol

Yeah, I like Charlie Lee as a person as he seems a stand up, principled type of guy. He's also a great spokesman for Bitcoin and the crypto space. But he lost me years ago on Litecoin with the constant "Litecoin is silver to Bitcoin's gold" analogy that he continues to this very day. In his mind it is still the only value prop over Bitcoin.

It's still nonsensical to me. One time on the old Litecoin forum I posted "No, actually mBtc is the silver to Btc's gold" and that Bitcoin would eventually gain all the functionality that Litecoin proponents espouse (i.e., transaction speed, liquidity) through other 2nd layers, and means like LN. I distinctly remember him responding to my post with an irritated and somewhat condescending tone that Litecoin was so much more than that (though he offered no proof or reasons).

Not to mention, coblee literally spent a weekend downloading the Bitcoin source code, changing a few config parameters, renaming it and launching it as Litecoin, and calling it good. In a weekend. He is smart, sure, but no crypto genius. Certainly not at the level of say, Vitalik.

Disclosure: At one time many years ago I owned 3000 LTC. My reasoning at the time was that I believed that having a separate Bitcoin-like blockchain with different algo and network could be a long term benefit, even an asset. My opinion changed though, and I no longer believe that will be necessary.

[Arriemoller]

I guess I'm alone in thinking these projections are wildly optimistic. Am I?

Nope.

"EVERY time the price doubles?"     You know we're in the $4000s now, right?

LMAO

Are you saying that bitcoin has reached it's peak now?

As long as bitcoin keeps getting more users, it will keep doubling. It doesn't matter if the fiat price is 4000, 40 000 or 4000 000 USD, it will keep doubling, and doubling, and doubling.

[yonton]

I have to admit, I am becoming a bit like Smeigle.

Its "Sméagol" you illiterate fuck !

[jbreher]

I wasn't asking how to safely break 'the law' (Google and read the federal mafia by Irwin Schiff), but was questioning how you retain reasonable trading profits when combined taxes on short-term gains in mosf us states is close to 50%.

Yeah...Schiff's claims are an interesting mix of fact and seeming fallacy. Funny though that they did not need to attack the parts where he was wrong to throw him in jail.

More germane though, I don't understand your underlying question. The only part that is taxed is profits. No profit, no tax. This requires knowledge of your cost basis. If you did not annotate it at the time you initially bought in, it is conveniently available. The block height of you purchase is in your transaction, visible and dateable on the Blockchain, correlatable to price data on any of several available archives.

If you don't want to pay short term cap gains, don't trade before a year passes after your first purchases. Use FIFO accounting (if applicable to your specific situation). Or move to Puerto Rico (as an aside, property may currently be a bargain).

But most succinctly, 0.5 > 0 last time I checked.

[jbreher]

Tweeting that Charlie Lee is "economically ignorant" is not winning him more friends either.

He didn't. Re-read the tweet.

[jojo69]

Its "Sméagol" you illiterate fuck !

ROFL       I knew I liked you Bob, in spite of your law abiding, war subsidizing ways.

[YamashitaRen]

I don't like this discrepancy in BTC/USD between Bitstamp and Bitfinex.
It started when Spoofy started pumping hard Finex...

[jojo69]

jesus, it's going off in Barcelona

fucking sad

[404Revolution]

Remember back when the Wall Observer Thread was worth reading?




Yeah, me either.

[bitserve]

Remember back when the Wall Observer Thread was worth reading?




Yeah, me either.

It makes sense:

Date Registered:    September 16, 2017, 03:46:14

[jojo69]

Remember back when the Wall Observer Thread was worth reading?




Yeah, me either.

don't let the screen door hit you on the ass

[gembitz]

Remember back when the Wall Observer Thread was worth reading?




Yeah, me either.

don't let the screen door hit you on the ass

n00bs NEVER listen anyways!     ha here comes $5000 meh     woot!!

[u9y42]

Remember back when the Wall Observer Thread was worth reading?




Yeah, me either.

don't let the screen door hit you on the ass

http://explosm.net/comics/4732/