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Question: Which price is bitcoin going to reach first? (credits to Jay)
$25K - 55 (35.9%)
$50K - 98 (64.1%)
Total Voters: 153

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25369905 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.)
Elwar
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July 18, 2018, 05:20:06 PM

Today, I pay my fair share of taxes and everyone leaves me the fuck alone.

This, my friend, is the definition of extortion. Pay or get fucked with.

I am all for funding social buildings, schools, hospitals, fire fighting, all of those things.
I also do not support extortion.
These are two different things. You seem to think that one must exist in order for the other to happen.
Why do you think you believe this? Possibly those schools funded by extortion taught that this is normal?
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Wekkel
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yes


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July 18, 2018, 05:24:52 PM

Saw on /r/bitcoin.

Food for thought.



Notice that final capitulation before it started in earnest.
AlcoHoDL
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July 18, 2018, 05:29:31 PM

Guys 'n' gals...

Looks like we're going Carolina soon.

About time!

via Imgflip Meme Generator
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July 18, 2018, 05:39:29 PM
Merited by JayJuanGee (1)

Just take the taxes side of things. You can't own the house because of the property taxes. You can't go anywhere without paying the taxes on the gas. You can't leave the country if you owe the IRS.
[...]
So it's fine if you're a statist cuck with no ambition. But it's no place for a sovereign individual.

....................


Uh, hit someones nerve there. Create new account to write wall of words.

Long live the sovereign individual.





I can make any graph fit without a time-frame.
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July 18, 2018, 05:40:25 PM


What's the actual tax rate in the states, anyway? In my country it's about 80%. 50% income tax, 25% sales tax and a whole bunch of taxes that are not openly advertised on anything you buy adding up to another 50%.

How much of your labor needs to be taken away before you no longer consider yourself "free"?

Federal tax rate depends on income and whether you're married/single. A married couple making a combined $150,000/year, for example, has a tax rate of 22%.

State income tax rates vary greatly. States like Texas, Florida, and several other have no income tax. California, the most "progressive" state in the country, has a top tax rate of 13.3%. Most large cities also have a small income tax.

Then, there are property taxes. These vary widely and are based on the value of your home. Mine are something like $2,400/year.

State sales tax is typically around 6-7%. There is no federal sales tax.

There are other taxes, which are hidden from most people, such as corporate income taxes, gasoline tax, etc.
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July 18, 2018, 05:45:53 PM


What's the actual tax rate in the states, anyway? In my country it's about 80%. 50% income tax, 25% sales tax and a whole bunch of taxes that are not openly advertised on anything you buy adding up to another 50%.

How much of your labor needs to be taken away before you no longer consider yourself "free"?

Then, there are property taxes. These vary widely and are based on the value of your home. Mine are something like $2,400/year.

State sales tax is typically around 6-7%. There is no federal sales tax.

There are other taxes, which are hidden from most people, such as corporate income taxes, gasoline tax, etc.

Man, I wish my RE taxes were this low.
In TX they are INSANELY high.
$10K on a moderately valued home. It's a high replacement of state tax.
I am not retired, but a typical retiree cannot pay this.
infofront
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July 18, 2018, 05:53:32 PM


What's the actual tax rate in the states, anyway? In my country it's about 80%. 50% income tax, 25% sales tax and a whole bunch of taxes that are not openly advertised on anything you buy adding up to another 50%.

How much of your labor needs to be taken away before you no longer consider yourself "free"?

Then, there are property taxes. These vary widely and are based on the value of your home. Mine are something like $2,400/year.

State sales tax is typically around 6-7%. There is no federal sales tax.

There are other taxes, which are hidden from most people, such as corporate income taxes, gasoline tax, etc.

Man, I wish my RE taxes were this low.
In TX they are INSANELY high.
$10K on a moderately valued home. It's a high replacement of state tax.
I am not retired, but a typical retiree cannot pay this.

Ouch. The governments will take their pound of flesh one way or another I guess.
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July 18, 2018, 06:07:11 PM

https://www.c-span.org/video/?448611-1/house-panel-examines-digital-currency&live
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July 18, 2018, 06:21:21 PM
Last edit: July 18, 2018, 07:16:17 PM by Elwar
Merited by JayJuanGee (1)


I'm not liking the panel they grabbed for their "panel of experts".

A Ripple guy and a bunch of professors of the legacy systems.


Ripple guy suggesting the Fed create a centrally controlled cryptocurrency. Or a cryptocurrency like...hmm...Ripple. Bitcoin is money, but not a very good one. Nothing wrong with our current system.

Heritage guy: Not Bitcoin...blockchain! (at least he suggests they get rid of capital gains taxes on spending crypto). He also mentions that centralizing crypto under Fed control wouldn't work. Adoption rate would help with volatility.

Professor: The US dollar has backing. Money is created by banks. Bitcoin not getting traction as a medium of exchange (likes Tether).

Old legacy finance guy: Private currencies have existed before. Money over time has become more centralized. Will it become decentralized due to crypto? Not likely. Central bank digital currency is a horrible idea. An increase in centralizing should be avoided.

They keep talking about a Federal Reserve deposit account.


Final summary: Cryptocurrencies are interesting and developing, it looks like we'll be coming back to this topic later.
gentlemand
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July 18, 2018, 06:22:09 PM

I'm not liking the panel they grabbed for their "panel of experts".

A Ripple guy and a bunch of professors of the legacy systems.

I wouldn't have expected anything less, or more. That's how they roll.
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July 18, 2018, 06:33:32 PM

"We should prohibit U.S. persons from buying or mining cryptocurrencies," says Rep. Brad Sherman, a senior Democrat on the House Financial Services Committee.

https://twitter.com/colinwilhelm/status/1019646925820264448



Bitcoin right now seems to be trying to break that psychological resistance level of $7500 *permanently*.
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July 18, 2018, 06:36:20 PM
Merited by Raja_MBZ (1)

"We should prohibit U.S. persons from buying or mining cryptocurrencies," says Rep. Brad Sherman, a senior Democrat on the House Financial Services Committee.

https://twitter.com/colinwilhelm/status/1019646925820264448



Bitcoin right now seems to be trying to break that psychological resistance level of $7500.

It went down $100 during his bleatings
https://www.opensecrets.org/members-of-congress/summary?cid=N00006897

This is the woke guy https://twitter.com/norbertjmichel?lang=en

Pollock is the wrecker https://imgur.com/a/wQPtnkq
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July 18, 2018, 06:44:13 PM

"We should prohibit U.S. persons from buying or mining cryptocurrencies," says Rep. Brad Sherman, a senior Democrat on the House Financial Services Committee.

https://twitter.com/colinwilhelm/status/1019646925820264448



Bitcoin right now seems to be trying to break that psychological resistance level of $7500 *permanently*.

Who the fuck does this Brad Sherman think he is ?
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July 18, 2018, 06:45:38 PM

"We should prohibit U.S. persons from buying or mining cryptocurrencies," says Rep. Brad Sherman, a senior Democrat on the House Financial Services Committee.

https://twitter.com/colinwilhelm/status/1019646925820264448



Bitcoin right now seems to be trying to break that psychological resistance level of $7500.

It went down $100 during his bleatings
https://www.opensecrets.org/members-of-congress/summary?cid=N00006897

This is the woke guy https://twitter.com/norbertjmichel?lang=en

Pollock is the wrecker https://imgur.com/a/wQPtnkq


Mr Pollock ended with this: " I don't think it [future forms of currency] will be a privately issued fiat currency like bitcoin"
Not sure if he meant it, but sounded like he called bitcoin a privately issued fiat currency. Hwa?HuhHuhHuh?




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July 18, 2018, 06:45:52 PM
Merited by Ibian (2)

Corporations are soulless mummies mandated to maximize shareholder profit. Imagining market forces will manage humans with anything other than complete indifference is nuts.

Funny thing about profit? It can only be garnered by providing something the masses want at a price for which they are willing to pay.

Truth is, the cold indifference of profit-seeking enterprise is the mechanism by which the lowliest among us live better longer lives in more comfort than the aristocracy of merely a century ago.
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July 18, 2018, 06:46:36 PM

Pollock is the wrecker https://imgur.com/a/wQPtnkq

"I think a central bank virtual currency is one of the worst ideas in recent times," says Alex Pollock, a fellow from @RSI testifying at House Financial Services subcommittee hearing.

https://twitter.com/colinwilhelm/status/1019653570495483905

Cheesy
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July 18, 2018, 06:47:50 PM

fat finger?   Cheesy   weeeeeeeeeee
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July 18, 2018, 06:51:24 PM

Google and Amazon etc compete by giving employees not only salaries, but "free" cafeteria food, "free" dental etc.

Rich western countries compete that way too.

It's up to each country what kind of "free" benefits like healthcare they should provide.

Corporations are soulless mummies mandated to maximize shareholder profit. Imagining market forces will manage humans with anything other than complete indifference is nuts.


You don't like "salary+benefits" package, you move to a better country.

Just everybody get rich and move to a seastead then. Good plan.

Funny thing about profit? It can only be garnered by providing something the masses want at a price for which they are willing to pay.

Truth is, the cold indifference of profit-seeking enterprise is the mechanism by which the lowliest among us live better longer lives in more comfort than the aristocracy of merely a century ago.

I went ahead and put my inflammatory quote back in the context of depending on companies to provide basic needs. fwiw
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July 18, 2018, 06:56:08 PM

Saw on /r/bitcoin.

Food for thought.

But gold still hasn't equalled that 1980 high accounting for inflation, which we're told is the point of gold. It would've been $2600 in today's dollars so right now it's worth less than half what you laid out nearly four bleedin' decades ago.

$800+ was merely standard FOMO overshoot. Duh.

Quote
Paper gold turned it to shite.

Well, there is that.
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July 18, 2018, 06:57:02 PM

LOL Mastercard  Roll Eyes



Indeed. Made me laugh as well. That was their stated value-add.

Can't make this shit up, people.
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