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

[Searing]

Crypto taxes are unenforceable, period. Anyone who is bending over backwards to try to do taxes should just stop and do the easy thing.

I recently just realized that Cryptopia not only allows you to withdraw coins while remaining totally anonymous (I know that Bittrex holds your coins until you verify identity), but also I think they delete your transaction history past 24 hours or something (I can't find my transaction history, which probably has tens of thousands of transactions, if not more).

What's to stop someone from just sending coins to some random/new fiat account, then cashing out? What are they going to do? Go through all of the stuff, when it's not even incriminating or suspicious?
Knowing the US government, I doubt that they wouldn't try, but it's just not practical, especially with the inefficient bureaucracy.

Not recommending breaking the law if you can avoid it, but if you started trading a month ago even, it's practically impossible to pay correct taxes, especially with this new tax act.

tough to do...in 2013 my bank sic'd the SEC on me because all BTC is EVIL.....I crushed them with my CPA tax forms and such...the SEC guy on the speaker phone was like

why am I here?

So that die is cast...so since then I have the CPA and I do the best I can figuring out taxes..though..tossing chicken entrails on the floor and using voodoo to get the right

figures for the IRS will likely be as good. Just do what you can...show your work (many folders with calcs) and my CPA says....if I can explain it...it likely will work because

most CPA's and any audit are clueless...thus even by hand figures on capital gains and such I can justify with my trusty folder of calcs is likely fine

but yeah, it could be UNENFORCEABLE...If you never increase your lifestyle......I mean I've heard of folk getting caught because of a 30k car they bought with cash

and could not show where the $$$ came from

thus, I'm legal as hell, CPA the works...when the IRS comes snooping around again (like SEC) I will just point to the speedboat and the trophy girlfriend and say

sorry, guys......I can justify my new found lavish (if dumb) lifestyle

but for me ...never was tempted to go dark...this little sea turtle was caught before he could get off the beach!

( I miss BTC being evil for a whole couple of weeks in 2013...I'd go to my bank..and it was like John Dillinger had an account there.....as close to desperado as I will ever

be...needless to say, I changed banks soon after.....)

[JayJuanGee]

IF you all hold - why btc dominance is 35% not 70%?   It is not new people - it is all you


snip [no one cares]

it's jamie dimon and his ilk faking newbs like you out. shut up and read the thread

Yep I've read this thread - 99% of people here hailed btc will be now 25-30k and we are 12k hardly. All TA say it will drop HARD. Logic say it WILL DROP. FUTURES say it WILL drop.

Are you bilioners that you know it will go up?

Just tell me why it should go up - because last year it went up? LOL thats great



Look on SALE WALLS on GDAX - hundreds of BTC - and buying? Nearly none, volume? - LOL no volume at all

Get the fuck out of here with your negative Nancy bullshit, and if you are referring to volume, there has been an increase in BTC trade volume for more than half of a year and ongoing.  Look at the weekly charts.  The trade volume is not lessening, and the BTC price battle is ongoing.  Sure, we have had up and we have had down. We have had mostly up, but only recently (in the past month) consolidation in a largely $10k to $20k territory and gravitating into the lower end of that range.  So fucking what?

O.k..  It is possible that there will be another test of support at $10k and it is possible that support will be broken - but such test is not certain and the results of such test is not certain either.  You boys and girl better be pee pared for both up and down because if you are only betting one way, you have a 50% chance of getting screwed, and if you are betting that BTC is dead, or dying or some alt is going to take over then your chances of getting screwed a whole hell of a lot greater because the odds of UP after this consolidation period are good.  Therefore good to be accumulating some BTC and not selling too many too soon.

[yefi]

It sounds like a useful service. But at what price? What might they be doing with the data other than crunching it for your benefit? Don't forget the universal maxim - if a service is free, then you're not the customer, you're the product.

The service isn't free, you have to pay $30 per year for less than 10K transactions and $100 for over. Not saying they won't still monetise the data though.

[JayJuanGee]

As I see it - whales do money if it is dipping, and if it is going up

There is no exchange with my fiat that I could win in daytrade.


I bought btc back but I see it will dip for sure - but at my exchanges there is so low volume and bot manipulation that even If i sell and buy back at night when it will be low - still I wont be +

And no one here have shown me any good reason/evidence that Hodling = winning

If you holdl from january 2013, you make about a 1000x in 5 years.

This is a good reason/evidence.

So you want to say that Bitcoin will never drop? Please in whole history of stock - find me company or anything that never ever dropped? Please


Sorry but I am not rich - no one gave me anything. Right now I will try on 0.175btc and HODL not looking on the price. If it goes up for uptrend I buy more. If it goes down - oh well that wasn't so much.

Maybe you have just described why you are such a fucking loser?

You are too scared, you lack confidence in bitcoin and it looks like you engage in the opposite practice of what you should be doing.


You seem to be buying on the way up and selling on the way down.   Instead you should be buying on the way down and selling on the way up. 

[btcbeliever]

Ugh, I just did my taxes on TurboTax and can't bring myself to hit the send button.   This sucks. Should I just suck it up, sell 0.2BTC and transfer to my bank and be done with it? I despise giving the US government any more money.

Payment isn't due for several months yet. Might be 0.1 BTC or less at that point.

#justsayin

Or it could be .3 BTC or .5 BTC. I am not going to speculate when it comes to giving Uncle Sam their pound of flesh. I am very small fry, as you can tell about me bitching over a somewhat trivial amount.

https://bitcoin.tax/

It supports the report format of most major exchanges.

It sounds like a useful service. But at what price? What might they be doing with the data other than crunching it for your benefit? Don't forget the universal maxim - if a service is free, then you're not the customer, you're the product.

If you have over 100 transactions, they charge 20.00. I paid the fee since I had well over 100 transactions and it is a lot easier than me trying to manipulate csv files myself to convert to something I can port over to a tax software program. I'm certainly not going to write by hand all the transactions on a schedule D form. They may be using my information for other purposes, but that's the price to pay for the convenience.

you folks, especially if you are 'small fry' should give a careful listen to sherry peel jackson, an ex-IRS criminal investigator: https://www.youtube.com/watch?v=ooHTg6-Y078

[HairyMaclairy]

Once the exchanges start using lightning to send BTC between them, it’s game over for many altcoins.

Hmm. How often do you suppose exchanges send BTC between each other today?

My comment could have been worded better.  

It’s game over for many altcoins when exchanges allow users to send BTC between exchanges using lightning.  BTC is already the reserve currency.  Things like Raiblocks will be smashed if lightning is instant and free.  

[HairyMaclairy]

Not a guppy, krill.   Whale food. 

[jojo69]

oooooh, another shot at the bottom

[rezurect007]

Does anybody know a mempool visualizer which can show thebelow:
https://pbs.twimg.com/media/DUCmEfJX4AA1W78.jpg[/img]

https://pbs.twimg.com/media/DUBvft7XcAAxvoE.jpg[/img]

https://dedi.jochen-hoenicke.de/queue/#24h

Thanks much @Last of the V8s

[rezurect007]

A tiny flat top on the bitfinix 1h chart...


tiny fake wall @14k


first red on 6h.
RSI overbought.
Small dip incoming.

Called that dip correctly.
15k to 11.6k.

Fake wall @12.5k
Expecting a retest of 10700

1500 BTC fake wall @ 11k
I believe we will go down to retest 10700 in the short term

Took 3 weeks to test 10900, close enough i guess.

Next stop 9k.. Its going to be slow and painful.

HODL.Perma bull.

Current Price 11.1k
Im calling: ~8700 within this week
Set buy from 9.5k till 8.5k.

[JayJuanGee]

Maybe you have just described why you are such a fucking loser?

Anyone posting to this thread, coming in here acting all like King Shit of Fuck Mountain, HODLing less than 1 BTC, needs to be summarily laughed out of here.

Lord Almighty that guppy needs some perspective.

I try to be nice to peeps who do not have much money to invest, and if you do not have a lot of money to invest it can take a long time to build up your BTC allocation and your strategy and sometimes to learn as you go along.  So, yeah, you better be fucking humble if you are such a small potato, and you are a relative newbie to this whole scene.

On the other hand, if you have more money, then you can take a larger stake, right away, and you are likely more experienced too - but even though it can be risky to take too big of a stake all at once.

When I started buying BTC in November 2013, I had a decent amount of money in other investments, but I still took a relatively conservative approach to my BTC investment that ended up taking me nearly a year to establish my initial BTC stake, and to really feel that I had a decent BTC stake (and comfortable for me, personally). 

However, even by then end of 2014, after I had taken my initial BTC stake I continued to attempt to learn about BTC and to attempt to play around with my BTC strategy in terms of continued DCA accumulation and later BTC trading to protect myself better from downside volatility (while attempting to profit from expected ongoing volatility), yet one of the main differences of already having the feeling of having a sufficient BTC stake, was that after reaching that sufficient stake status, I felt a bit less urgency and anxiety in terms of anything that I did in regards to BTC because I had at least taken care of one portion (establishing a sufficient stake to feel prepared for upside).

So, I suppose my "sufficient stake" has always been the HODL portion of my BTC, and the never invest more than you are willing to lose (that i was willing to lose because of the way that i had invested it).  That portion of my BTC that have just held are still used as a measure of my overall approach yet the post October 2015 increase in value of that HODL portion has also allowed for more risk taking from me in other regards.

[Last of the V8s]

https://www.youtube.com/watch?v=forJzdPI7QM
Jordan Peterson on BBC Radio 5 live Afternoon Edition 15/01/2018
better interviewers

[jojo69]

[svdleer]

oooooh, another shot at the bottom

Again all alts are also down massive. what the fuck is going on this time.

[thrax]

oooooh, another shot at the bottom

Again all alts are also down massive. what the fuck is going on this time.

When bitcoin dips almost everything else dips, and bitcoin has dipped a little during the last few hours. It's a good time to buy.

[Last of the V8s]

http://bitcoin.zorinaq.com/price/
nice toy

[Last of the V8s]

[Enjel]

As I see it - whales do money if it is dipping, and if it is going up

There is no exchange with my fiat that I could win in daytrade.


I bought btc back but I see it will dip for sure - but at my exchanges there is so low volume and bot manipulation that even If i sell and buy back at night when it will be low - still I wont be +

And no one here have shown me any good reason/evidence that Hodling = winning

If you holdl from january 2013, you make about a 1000x in 5 years.

This is a good reason/evidence.

So you want to say that Bitcoin will never drop? Please in whole history of stock - find me company or anything that never ever dropped? Please


Sorry but I am not rich - no one gave me anything. Right now I will try on 0.175btc and HODL not looking on the price. If it goes up for uptrend I buy more. If it goes down - oh well that wasn't so much.

Maybe you have just described why you are such a fucking loser?

You are too scared, you lack confidence in bitcoin and it looks like you engage in the opposite practice of what you should be doing.


You seem to be buying on the way up and selling on the way down.   Instead you should be buying on the way down and selling on the way up.  

I actually do this, but I don't understand why "buying on the way down, selling on the way up" is better than vice versa.

Right now, I keep a base/starting value (edited occasionally) for some of my coins, and if the price increases by "x" amount, then for every "y" increase after I sell "z" percentage of my gains at market value, and "z" depends on bull or bearish sentiment that I feel.

Similar principle for buying on the way down.

Why is this better than doing the other way around though?

[J. Cooper]

oooooh, another shot at the bottom

Again all alts are also down massive. what the fuck is going on this time.

When bitcoin dips almost everything else dips, and bitcoin has dipped a little during the last few hours. It's a good time to buy.

It only demonstrates how strong and dominant Bitcoin still is in the current markets. People who claim Bitcoin is being dethroned can steaight up fu** outta here. Be greedy when others are fearful and fearful when others are greedy. Now's the time to be greedy.

[itod]

I actually do this, but I don't understand why "buying on the way down, selling on the way up" is better than vice versa.
...
Why is this better than doing the other way around though?

If you do it the other way around, "buying on the way up, selling on the way down", you would be buying on the higher price and selling on the lower and be in a loss. Isn't it obvious? When you "buy on the way down, sell on the way up" you actually have a profit at every cycle.