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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25463044 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13+ users deleted.)
RejectedBanana
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April 06, 2018, 06:11:44 PM
Merited by infofront (1), Karartma1 (1), Last of the V8s (1)


Can we stop pretending three months of crash is somehow tied to tax deadlines?

It would be great.

Certainly not ALL three months, but definitely some:

There's just no reason for such low prices, other than a bunch of idiots handling their coins to Wall Street which are the ones buying all the cheap coins before institutional money and other whales come in. They will not do it before all the weak hands are shaken.

Taxes. Taxes are good reasons. $25 Billion owed for 2017 in just the USA.

Cryptocurrencies Could Be 20% of Capital Gains Tax Payments This Year

The IRS has upped its ante with its Coinbase aggression. Misleading or ignoring the IRS is a whole hornet's nest of trouble. Bitcoin's history is rife with prosecutions and asset seizures for those who did not pay their taxes. Often, taxes gets them in more trouble than the illegal goods and services they might have been trading in the first place.

Anyone who thought BCash was just free money? Well, guess what, taxes. Every fork claimed in 2017 is taxable income, whether you sold it or not. If it was worth more than $1000, you need to pay taxes in the quarter you claimed it. Otherwise, guess what? Even more penalties and interest owed on top of your taxes.

Already spent your windfall during Christmas/New Year? Well time to unspend it.

So what we have here is a bunch of people owing taxes and back taxes and penalties/interest on taxes owed for maybe more than just 2017 and a whole bunch more people just waiting for them to further liquidate to pay their taxes. So the price will continue to drop, and all the smart traders and whales and investors and institutions are just twiddling their thumbs, waiting, accumulating on the dips, waiting.

Patiently.

Just like every Q1.

Do not underestimate the power of a sovereign nation to duly collect their taxes and to instill enough fear into motivating people to pay their taxes.

The very foundations of sovereignty rests upon the ability of a nation to collect taxes. And inflict punishment on those who do not.

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Lontonbit
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April 06, 2018, 06:16:32 PM
Merited by yonton (2)

Sell your cryptos for cash no tax
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April 06, 2018, 06:17:00 PM



That's what I call a good GIF! Nice find!
In the meanwhile they are mostly worried about some Big Data analysis about how bitcoins move around
https://www.forbes.com/sites/thomasbrewster/2018/04/05/snooping-on-bitcoin-is-big-business/

Sorry for the Forbes Roll Eyes

Last of the V8s
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April 06, 2018, 06:24:53 PM

taxes
yayaya
10 WO demerits
i mean xclnt post and all but sometimes
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April 06, 2018, 06:26:24 PM

Ath shorts = squeeze = pump this weekend
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April 06, 2018, 06:26:33 PM
Merited by Last of the V8s (1)

Anyone who thought BCash was just free money? Well, guess what, taxes. Every fork claimed in 2017 is taxable income, whether you sold it or not. If it was worth more than $1000, you need to pay taxes in the quarter you claimed it. Otherwise, guess what? Even more penalties and interest owed on top of your taxes.

How can IRS know that you have profits when you sold fork coins if they didn't know you have bitcoins in the first place? And why do people let IRS to know that they have in Bitcoins before the first place? I still want to go deeper. Why do people use coinbase to buy their stuff instead of using anonymous sources?

If you are able to trigger IRS by converting your alts to bitcoin, you are doing it completely wrong imho.
Last of the V8s
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April 06, 2018, 06:40:20 PM

legacy markets capitulating. sad
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April 06, 2018, 06:51:46 PM

Gotta be honest, folks. Threatening to test the 6 month low is really depressing Sad

No freaking idea what is happening with Bitcorn. Absolutely no clue.

Flummoxed.

We will fall together, holding come hell or high water.
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April 06, 2018, 06:52:25 PM

Anyone who thought BCash was just free money? Well, guess what, taxes. Every fork claimed in 2017 is taxable income, whether you sold it or not. If it was worth more than $1000, you need to pay taxes in the quarter you claimed it. Otherwise, guess what? Even more penalties and interest owed on top of your taxes.

How can IRS know that you have profits when you sold fork coins if they didn't know you have bitcoins in the first place? And why do people let IRS to know that they have Bitcoins before the first place? I still want to go deeper. Why do people use coinbase to buy their stuff instead of using anonymous sources?

If you are able to trigger IRS by converting your alts to bitcoin, you are doing it completely wrong imho.

The IRS relies on self reporting for the most part. But large fiat withdrawals and deposits will likely get reported to IRS, triggering a possible audit.

There is no statute of limitations for false returns, evasion, or failing to file. If you knowingly do not report and the IRS happens to get smarter in the future with regard to crypto (remember, the Blockchain is immutable), then you're just postponing the pain and fear and penalty.

The penalties are not simply civil. We're talking criminal prosecution, prison time and asset seizure, depending on the scale.

So pay your taxes, people. Bitcoin was not born in a vacuum; society contributed and taxes benefit society, like it or not.
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April 06, 2018, 07:01:40 PM

Maybe Soros would pump the price back to 20k

Go Soros  Grin

Would be nice to see this train move.  i dont care who pumps but pleeeeeeeeaaaassssseeeee!




PUMP IT!



PUMP IT!


Gotta give you my last Smerit for Just sharing the Rollercoaster GIF
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April 06, 2018, 07:42:33 PM

Mother, mother
There's too many of you crying
Brother, brother, brother
There's far too many of you dying
You know we've got to find a way
To bring some lovin' here today

Father, father
We don't need to escalate
You see, war is not the answer
For only love can conquer hate
You know we've got to find a way
To bring some lovin' here today
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April 06, 2018, 07:55:18 PM
Merited by bitebits (1)

Bitcorn price Q1:



Bitcoin price Q2+:

yonton
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April 06, 2018, 07:56:55 PM

Short squeeze
bitcoinPsycho
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THE NEXT 2.4 YEARS ARE CRITICAL🍄💊


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April 06, 2018, 08:05:45 PM
Merited by Raja_MBZ (1)

I've had enough of this... the bottom is in . we can only go up from here. the inevertability chart has spoken

also

yonton
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April 06, 2018, 08:27:07 PM

Its a ghost town here, you guys are scaring me Sad
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April 06, 2018, 08:41:17 PM

Its a ghost town here, you guys are scaring me Sad

Too depressing to post right now.

The last 8 hours have been SO FUCKING BORING OMG
Well, I've closed my short if that makes you feel better Smiley I'm back in bitcoin where I will stay now.
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1/21000000 , the only math you need to know


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April 06, 2018, 08:43:25 PM

taxes benefit society, like it or not.



which society would that be?
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April 06, 2018, 08:44:16 PM

Its a ghost town here, you guys are scaring me Sad

Too depressing to post right now.

The last 8 hours have been SO FUCKING BORING OMG
Well, I've closed my short if that makes you feel better Smiley I'm back in bitcoin where I will stay now.

Downside won't last forever. Cheap coins coming if have extra fiat.

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April 06, 2018, 08:46:25 PM
Merited by Last of the V8s (1)

taxes benefit society, like it or not.

img]https://i2.wp.com/i-hls.com/wp-content/uploads/2015/01/MQ-9-Reaper-armed-UAV.jpg?w=640&ssl=1[/img]

which society would that be?
Switzerland ?
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April 06, 2018, 08:48:31 PM

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