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

[Torque]

None of the major alts have ever endured a full crypto winter.  Even ETH launched at the bottom of the crypto winter and was straight uphill from there. Undoubtedly this has been a learning experience for the Masters of the Altiverse.  

I'm not defending alts but this is just patently false.

In what way is Hairy's statement patently false?

Sure if you mean the old world alts of pre-2014 back *before* the current nouveau crop like ETH, XRP, DASH, XMR, etc., all the ICO garbage... then yeah, they had a pretty hard bear market. I remember LTC dropping from $48 all the way down to $1.20.

But the nouveau shitcoin crowd has yet to see a significant crash. And trust me it's thin all the way down. Just look how that one whale trader on Coinbase was able to crash ETH all the way down to $0.10. And that was just like ONE guy (or one small colluding group).

[kaicrypzen]

Dump incoming.

SEC delays decision until 21st September, 2018:

https://www.coindesk.com/sec-delays-decision-on-direxions-bitcoin-etfs-until-september/

While the crypto community largely seems excited at the prospect of a bitcoin ETF, Atlantis Asset Management chief investment strategist Michael Cohn said any approval would be "insane," CNBC reports today.

"Then they're putting a rubber stamp on it as an asset, and I don't think governments want to go there yet. It just seems as though it's not something I'd want to put my clients into in any way, shape or form. You can only be embarrassed," he added.

Just a technicality: That's not the ETF that has made news recently and that everybody seems to be expecting. It is actually said in the article you linked:

Notably, none of the ETF proposals being postponed are from VanEck and SolidX, which are currently under discussion by the wider crypto community. More than 100 comments have been submitted for that proposal, and a decision may occur as soon as next month.

[jbreher]

So: topic swerve.

All y'all may recall I've been looking to Puerto Rico as a means of reducing capital gains taxes owed (I'm 'Merkin). But I've just learned of another (legitimate - according to IRS) potential route out of the system that may be as interesting:

https://www.forbes.com/sites/forbesdigitalcovers/2018/07/17/an-unlikely-group-of-billionaires-and-politicians-has-created-the-most-unbelievable-tax-break-ever/

Anyone interested in forming a study group? Or is there some other subforum here in BCT that might be better for such a discussion?

Interesting. So essentially, I can sell all of my bitcoins and invest in something in some poor neighborhood. Then if I keep it 10 years I owe no tax.

But what could survive in a poor neighborhood that would be worth anything in 10 years? Gold store full of gold? Lambo dealership?

I seriously don't see anything in the US being as valuable in 10 years as keeping my bitcoins.

Fair enough. You've made many steps toward divorcing yourself from the land. Some of the rest of us... not so much.

Checking the maps, there are qualified Opportunity Zones quite near me.

[Paashaas]

Dump incoming.

SEC delays decision until 21st September, 2018:

https://www.coindesk.com/sec-delays-decision-on-direxions-bitcoin-etfs-until-september/

While the crypto community largely seems excited at the prospect of a bitcoin ETF, Atlantis Asset Management chief investment strategist Michael Cohn said any approval would be "insane," CNBC reports today.

"Then they're putting a rubber stamp on it as an asset, and I don't think governments want to go there yet. It just seems as though it's not something I'd want to put my clients into in any way, shape or form. You can only be embarrassed," he added.

Some decisions are postponed. CBOE, VanEck and SolidX ETF still on schedule.

[Raja_MBZ]

Dump incoming.

SEC delays decision until 21st September, 2018:

https://www.coindesk.com/sec-delays-decision-on-direxions-bitcoin-etfs-until-september/

While the crypto community largely seems excited at the prospect of a bitcoin ETF, Atlantis Asset Management chief investment strategist Michael Cohn said any approval would be "insane," CNBC reports today.

"Then they're putting a rubber stamp on it as an asset, and I don't think governments want to go there yet. It just seems as though it's not something I'd want to put my clients into in any way, shape or form. You can only be embarrassed," he added.

Just a technicality: That's not the ETF that has made news recently and that everybody seems to be expecting. It is actually said in the article you linked:

Notably, none of the ETF proposals being postponed are from VanEck and SolidX, which are currently under discussion by the wider crypto community. More than 100 comments have been submitted for that proposal, and a decision may occur as soon as next month.

Wew!

Yup, seems like I rushed in posting that. Just wanted to be the first one to post here about that. Sorry about that!

[Anon136]

Grr. Be serious for a moment, dammit! This is potentially useful to a good number of us here. Boblawblaw? Where you at? I know you've got me on ignore, but this should be very interesting to you too.

Sorry. I'm not very good at being serious. Serious people take all of the problems in the world too seriously and it makes them unhappy. I instead learned how to look at it all like a giant cosmic joke. Everything is an opportunity to lul. In this way I have found true happiness in this life. Kek be praised.

But no you are right. This is interesting indeed. I am glad it was shared. It is now on my radar and I am glad it is on my radar. To me, though, this begs a more meta question. How does one go about finding the right sort of person to hire who knows about all of the programs like this and can advise you on how to financially plan in such a was as to mitigate the greatest tax burden?

[Hueristic]

 This could be an opportunity for a seasteading Bitcoinist.  Set up shop in an o-zone (numa numa) to build components for the steads.  Dodge some tax money, employ a few people who need it and help to build your new community in the equatorial zone.  Win win win.

I just texted a buddy in a zone and he said his property taxes have doubled in the last year so it looks to me like it's just going to relocate the poor elsewhere. Nice job as usual from the Obligatory. At least it looks like there were good intentions on this tax dodge.


Looks like these guys should have waited 4 days!!!

https://www.trustnodes.com/2018/07/20/hashflare-cloud-miner-goes-million-customers-affected

None of the major alts have ever endured a full crypto winter.  Even ETH launched at the bottom of the crypto winter and was straight uphill from there. Undoubtedly this has been a learning experience for the Masters of the Altiverse.  

I'm not defending alts but this is just patently false.

In what way is Hairy's statement patently false?

Sure if you mean the old world alts of pre-2014 back *before* the current nouveau crop like ETH, XRP, DASH, XMR, etc., all the ICO garbage... then yeah, they had a pretty hard bear market. I remember LTC dropping from $48 all the way down to $1.20.

But the nouveau shitcoin crowd has yet to see a significant crash. And trust me it's thin all the way down. Just look how that one whale trader on Coinbase was able to crash ETH all the way down to $0.10. And that was just like ONE guy (or one small colluding group).

Of course I mean the Old world ALTs what else would I mean. And he used the terms "NONE have endured" which is patently false, what part of that is hard for you to discern? AFA the "nouveau shitcoin crowd" let them burn. You listed a pile of exceptions yourself.

I'm a little grouchy this morning do to over exertion yesterday so I'm not really mincing words. BTW that LTC spiral was not just a scene bad patch it was a shitcoin that got pumped by the chinese and ridden all the way down, it didn't correlate to the market as a whole at all.

[Torque]

Of course I mean the Old world ALTs what else would I mean. And he used the terms "NONE have endured" which is patently false, what part of that is hard for you to discern? AFA the "nouveau shitcoin crowd" let them burn. You listed a pile of exceptions yourself.

I'm a little grouchy this morning do to over exertion yesterday so I'm not really mincing words. BTW that LTC spiral was not just a scene bad patch it was a shitcoin that got pumped by the chinese and ridden all the way down, it didn't correlate to the market as a whole at all.

Cool, no offense taken. I get grouchy sometimes too. And I agree with you about the Chinese pumping and riding the shitcoins down.

I wouldn't be surprised though to see it happen again with the shitcoins. Their valuation, if you can call it that, makes zero sense. The vast majority of "the crypto market" is an illusion. Bitcoin as a true innovation stands in a sea of literal garbage.

[Anon136]

we progress

Oh cute, look! This bitcoin rocket meme comes with built in alt coin rockets!

Anyone interested in forming a study group? Or is there some other subforum here in BCT that might be better for such a discussion?

Hey bearman. You said something about wanting to make some sort of research group If you want to make a discussion thread about it do so and toss me a link.

[El duderino_]

Waiting for it to go over 9,000.....

But that's impossible.

just wtf is impossible for BTC

[Phil_S]

We have to say it's impossible, then it might happen.

[JimboToronto]

Good morning Bitcoinland.

Nice to see we continued building on last night's leg up and even had a wee bit of a correction... currently $8198USD/$10777CAD (Bitcoinaverage).

Not only did we make it back into 5 digits in CAD, it's almost starting to feel like we're back in the normal state of upward growth.

Now we just have to get back to 5 digits in USD and I'll think the bottom was indeed in and the big correction from last autumn's runaway prices is complete.

To all those who stocked up at this year's bargain prices, congratulations. To those who held out for unrealistic dreams of sub-$5k coins, you have my deepest sympathy.

Go Bitcoin go.

[gembitz]

Good morning Bitcoinland.

Nice to see we continued building on last night's leg up and even had a wee bit of a correction... currently $8198USD/$10777CAD (Bitcoinaverage).

Not only did we make it back into 5 digits in CAD, it's almost starting to feel like we're back in the normal state of upward growth.

Now we just have to get back to 5 digits in USD and I'll think the bottom was indeed in and the big correction from last autumn's runaway prices is complete.

To all those who stocked up at this year's bargain prices, congratulations. To those who held out for unrealistic dreams of sub-$5k coins, you have my deepest sympathy.

Go Bitcoin go.

Bitcoin ETF/Winklevoss creating disruption.... 

[julian071]

Someone wake me up when we pass 10k €.

[kraterion]

Sell the news when ETF will be approved or real FOMO will kick in instead? If it will be approved I don't see how if someone requests an ETF approval for BCH it shouldn't be approved

[fragout]

Sell the news when ETF will be approved or real FOMO will kick in instead? If it will be approved I don't see how if someone requests an ETF approval for BCH it shouldn't be approved

It wont be approved. The best we can hope for is an extension. The longer the speculation continues the better and the market might take on a life of its own in which a negative EFT result will not be enough to reverse it.
If on the other hand, it was approved, it is a FOMO event

[infofront]

So: topic swerve.

All y'all may recall I've been looking to Puerto Rico as a means of reducing capital gains taxes owed (I'm 'Merkin). But I've just learned of another (legitimate - according to IRS) potential route out of the system that may be as interesting:

https://www.forbes.com/sites/forbesdigitalcovers/2018/07/17/an-unlikely-group-of-billionaires-and-politicians-has-created-the-most-unbelievable-tax-break-ever/

Anyone interested in forming a study group? Or is there some other subforum here in BCT that might be better for such a discussion?

I've also looked into PR, and am interested in this subject (legal "tax evasion"). I recommend creating a new thread and linking here.

Grr. Be serious for a moment, dammit! This is potentially useful to a good number of us here. Boblawblaw? Where you at? I know you've got me on ignore, but this should be very interesting to you too.

"Serious Discussion" subforum, perhaps.

[Karartma1]

I want Vegeta memes all over the board in the next 24 hrs.
Hold on to your butts

[JimboToronto]

I want Vegeta memes all over the board in the next 24 hrs.
Hold on to your butts

Mmmm. Vegeta.

[xhomerx10]

I am loving this increased volume.