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

[explorer]

   I need to liquidate one of my paper wallets soon, but maybe I will just wait until all of the forking dust settles, so I can strip all 5 shitcoins at the same time.  I don't have a fucking clue how to accomplish this safely and efficiently at this time; I haven't even had a (BTC) software wallet set up for years.  Hopefully one of the hardware wallets will step up and do the leg work for me, as its about time for me to get one of those anyway.

  Incentive:  Use our HW and get all 13 (I'm talking weeks from now, not today) shitcoins per BTC automatically! One button liquidation!  Try it today!

[Arriemoller]

More info on this Bitcore (BTX) coin...

It looks like they just paid out 8.3 million of these to existing bitcoin holders on the 6th of November. You automatically have .5 BTX for each bitcoin you owned based on a 2 Nov snapshot. You have to import your bitcoin private keys to get your bitcore coins. You already own them even if you don't claim them right now so hold on to the private keys you were using as of 2 Nov.

Holding bitcore and registering the bitcore address on their site gives you an Airdrop each week based on the balance you hold.

If you're moving your bitcoin to claim your bitcoin gold, might as well claim the bitcore coin at the same time even if you don't plan on selling it right now.

Whoot ?
I´ll sit tight, just to be sure. That ok ?
They throw coins at me, like it´s early christmas.

No, these are the early Christmas coins. http://www.supersmartbitcoin.com/index.html

[kurious]

More info on this Bitcore (BTX) coin...

It looks like they just paid out 8.3 million of these to existing bitcoin holders on the 6th of November. You automatically have .5 BTX for each bitcoin you owned based on a 2 Nov snapshot. You have to import your bitcoin private keys to get your bitcore coins. You already own them even if you don't claim them right now so hold on to the private keys you were using as of 2 Nov.

Holding bitcore and registering the bitcore address on their site gives you an Airdrop each week based on the balance you hold.

If you're moving your bitcoin to claim your bitcoin gold, might as well claim the bitcore coin at the same time even if you don't plan on selling it right now.

Whoot ?
I´ll sit tight, just to be sure. That ok ?
They throw coins at me, like it´s early christmas.

No, these are the early Christmas coins. http://www.supersmartbitcoin.com/index.html

Am already suffering from Fork Fatigue....  Paper wallets, too.  Lots of them.  It's a pain.

[kurious]

   I need to liquidate one of my paper wallets soon, but maybe I will just wait until all of the forking dust settles, so I can strip all 5 shitcoins at the same time.  I don't have a fucking clue how to accomplish this safely and efficiently at this time; I haven't even had a (BTC) software wallet set up for years.  Hopefully one of the hardware wallets will step up and do the leg work for me, as its about time for me to get one of those anyway.

  Incentive:  Use our HW and get all 13 (I'm talking weeks from now, not today) shitcoins per BTC automatically! One button liquidation!  Try it today!

If only!

[lightfoot]

This brings up an interesting tax thought:

If you sell your bitcoin cash for cash then you have to pay the difference between either 0 or the strike price as a profit. This is not unusual and makes sense.

However if you take your bitcoin cash and switch it into bitcoin again what happens? Technically when it split off it reduced the value of bitcoin by its value. Ok, fair enough. But if it had remained bitcoin and bitcoin went up more than bitcoin cash has isn't it technically a capital loss? Or if a gain only the differential between the bitcoin value at the time and now applied to any bitcoins sold after that time that may have been some of the bitcoin cash coins (assuming one is using LIFO, most people want to use FIFO for capital gains thus they would be screwed)?

These are the things I think about while the dryer is running with my pants in it.

[Spaceman_Spiff_Original]

This brings up an interesting tax thought:

If you sell your bitcoin cash for cash then you have to pay the difference between either 0 or the strike price as a profit. This is not unusual and makes sense.

However if you take your bitcoin cash and switch it into bitcoin again what happens? Technically when it split off it reduced the value of bitcoin by its value. Ok, fair enough. But if it had remained bitcoin and bitcoin went up more than bitcoin cash has isn't it technically a capital loss? Or if a gain only the differential between the bitcoin value at the time and now applied to any bitcoins sold after that time that may have been some of the bitcoin cash coins (assuming one is using LIFO, most people want to use FIFO for capital gains thus they would be screwed)?

These are the things I think about while the dryer is running with my pants in it.

Could you expand why most people want to use FIFO instead of LIFO?  I would think LIFO would give you the least amount of capital gains.

[BTCMILLIONAIRE]

This brings up an interesting tax thought:

If you sell your bitcoin cash for cash then you have to pay the difference between either 0 or the strike price as a profit. This is not unusual and makes sense.

However if you take your bitcoin cash and switch it into bitcoin again what happens? Technically when it split off it reduced the value of bitcoin by its value. Ok, fair enough. But if it had remained bitcoin and bitcoin went up more than bitcoin cash has isn't it technically a capital loss? Or if a gain only the differential between the bitcoin value at the time and now applied to any bitcoins sold after that time that may have been some of the bitcoin cash coins (assuming one is using LIFO, most people want to use FIFO for capital gains thus they would be screwed)?

These are the things I think about while the dryer is running with my pants in it.

Could you expand why most people want to use FIFO instead of LIFO?  I would think LIFO would give you the least amount of capital gains.

There usually are two tax rates. One for <12 month holds and one for >12 month holds. So if you're a holder you may find yourself in situations where you'd rather FIFO over LIFO.

I prefer FIFO myself because I pay no taxes on >12 month crypto holds at all, which makes it possibly to actually diversify into stocks without any cost involved other than losing out on some crypto profits in exchange for safety.

[Logic-Elliven]

Thought all you original hodlers who can't trade worth a damn   would get a boner from this!

BitMEX, which handles around $1 billion in trades per day, will sell all users’ Bitcoin Cash, and credit their wallet with the Bitcoin proceeds.

http://bitcoinist.com/bitmex-volume-dump-bitcoin-cash-bitcoin/

[lightfoot]

This brings up an interesting tax thought:

If you sell your bitcoin cash for cash then you have to pay the difference between either 0 or the strike price as a profit. This is not unusual and makes sense.

However if you take your bitcoin cash and switch it into bitcoin again what happens? Technically when it split off it reduced the value of bitcoin by its value. Ok, fair enough. But if it had remained bitcoin and bitcoin went up more than bitcoin cash has isn't it technically a capital loss? Or if a gain only the differential between the bitcoin value at the time and now applied to any bitcoins sold after that time that may have been some of the bitcoin cash coins (assuming one is using LIFO, most people want to use FIFO for capital gains thus they would be screwed)?

These are the things I think about while the dryer is running with my pants in it.

Could you expand why most people want to use FIFO instead of LIFO?  I would think LIFO would give you the least amount of capital gains.

FUCK I KEEP SCREWING THOSE UP!

CG taxes are based on how long you have owned the asset. Normally you want to sell the oldest bitcoins first since the CG rate will be lower. I run a business fixing miners so I earn coins, then spend a portion immediately for inventory, parts, shipping, etc. I like this because it leaves me with the least fluctuation on which I have to pay capital gains but they are at the short term rate, not long term. If I sold my whole stash I would pay a fair bit at the ST rate until I hit coins that were over a year old at which point I would hit the LT rate.

But the upshot is that coins I sell now are not the ones that had the BTC stripped off them.

[lightfoot]

Thought all you original hodlers who can't trade worth a damn   would get a boner from this!

BitMEX, which handles around $1 billion in trades per day, will sell all users’ Bitcoin Cash, and credit their wallet with the Bitcoin proceeds.

http://bitcoinist.com/bitmex-volume-dump-bitcoin-cash-bitcoin/

That's going to be a taxable fustercluck. Interesting to see what happens with it.

C

[Arriemoller]

More info on this Bitcore (BTX) coin...

It looks like they just paid out 8.3 million of these to existing bitcoin holders on the 6th of November. You automatically have .5 BTX for each bitcoin you owned based on a 2 Nov snapshot. You have to import your bitcoin private keys to get your bitcore coins. You already own them even if you don't claim them right now so hold on to the private keys you were using as of 2 Nov.

Holding bitcore and registering the bitcore address on their site gives you an Airdrop each week based on the balance you hold.

If you're moving your bitcoin to claim your bitcoin gold, might as well claim the bitcore coin at the same time even if you don't plan on selling it right now.

Whoot ?
I´ll sit tight, just to be sure. That ok ?
They throw coins at me, like it´s early christmas.

No, these are the early Christmas coins. http://www.supersmartbitcoin.com/index.html

Am already suffering from Fork Fatigue....  Paper wallets, too.  Lots of them.  It's a pain.

Does your paper wallets have a QR code for the private key? If so, it's really easy if you use coinomi.
Just download it to your phone, add bitcoin, choose "sweep wallet" and read the QR code, and it's in your wallet, repeat with all the other paper wallets you have. Then add the shitcoin of your choosing and do it all over again.

[Thunderlizard]

All bitcoin and its forks not counting BTX ($25 coin)

http://i63.tinypic.com/15x23iq.png

Bitcoin has gone up right now and at the moment it is still rising is it because of the fork? i heard that bitcoin was going down on the 16th but instead it is going higher right now and i am very happy.

[Icygreen]

Hey all, Im hoping some of you might be able to help me help a recent batch of newbs in the community who've found bitcoin investment /derivatives sites. This is the 3rd time friends have come to me in the last few months and I just don't have the research into them to show how they are a bad idea besides explaining that they are not in control of private keys and I honestly don't know how they work.
Here's one that is starting to circulate  in a small expat community where I spend time in SE Asia. https://letsgeton.usitech-int.com

While I'm willing to help those who've just discovered BTC,
I believe this type of introduction to bitcoin does not help the community or Bitcoins future.
Any links to well written articles/ arguments against this kind of investment would be appreciated.  
Sorry to bring this to the WO thread but honestly I don't post or follow other places and I'm sure many of you have already navigated this.
Cheers

[conspirosphere.tk]

Am already suffering from Fork Fatigue....  Paper wallets, too.  Lots of them.  It's a pain.

It's raining money!
I already insta-dumped my bitcoin gold freebie to enlarge my BTC balance by about 2%, but I'll hold BTX for a while because it looks good.

[pfrtlpfmpf]

More info on this Bitcore (BTX) coin...

It looks like they just paid out 8.3 million of these to existing bitcoin holders on the 6th of November. You automatically have .5 BTX for each bitcoin you owned based on a 2 Nov snapshot. You have to import your bitcoin private keys to get your bitcore coins. You already own them even if you don't claim them right now so hold on to the private keys you were using as of 2 Nov.

Holding bitcore and registering the bitcore address on their site gives you an Airdrop each week based on the balance you hold.

If you're moving your bitcoin to claim your bitcoin gold, might as well claim the bitcore coin at the same time even if you don't plan on selling it right now.

"BTX"  Sounds like my next graphics card.

"BTX-Plus",  i don´t fiddle around 

[Syke]

Does your paper wallets have a QR code for the private key? If so, it's really easy if you use coinomi.
Just download it to your phone, add bitcoin, choose "sweep wallet" and read the QR code, and it's in your wallet, repeat with all the other paper wallets you have. Then add the shitcoin of your choosing and do it all over again.

Yeah, but first you have to transfer your real bitcoins to a new paper wallet. And since I don't like my coins all in one wallet, I have quite a few paper wallets.

[Hyperjacked]

Am already suffering from Fork Fatigue....  Paper wallets, too.  Lots of them.  It's a pain.

It's raining money!
I already insta-dumped my bitcoin gold freebie to enlarge my BTC balance by about 2%, but I'll hold BTX for a while because it looks good.

And you earn 3% every week in November ... 4 % in December ... And a 1% increase every month until Btx is distributed 

[European Central Bank]

Am already suffering from Fork Fatigue....  Paper wallets, too.  Lots of them.  It's a pain.

It's raining money!
I already insta-dumped my bitcoin gold freebie to enlarge my BTC balance by about 2%, but I'll hold BTX for a while because it looks good.

And you earn 3% every week in November ... 4 % in December ... And a 1% increase every month until Btx is distributed 

these guys know how to fork. and they didn't have to spend millions of dollars on russian psyops or exchange and mining manipulation either.

i'm holding my btx too.

[Hyperjacked]

Am already suffering from Fork Fatigue....  Paper wallets, too.  Lots of them.  It's a pain.

It's raining money!
I already insta-dumped my bitcoin gold freebie to enlarge my BTC balance by about 2%, but I'll hold BTX for a while because it looks good.

And you earn 3% every week in November ... 4 % in December ... And a 1% increase every month until Btx is distributed 

these guys know how to fork. and they didn't have to spend millions of dollars on russian psyops or exchange and mining manipulation either.

i'm holding my btx too.

It's the gift that keeps giving... Brilliant!

[lightfoot]

Meantime ye olde bitcoin is back at 7250 and perking along.

C