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

[El duderino_]

THATS THE KIND  OF MUSIC I WOULD ALWAYS BE PLAYING OUT LOUD !!!!

[El duderino_]

THANK YOU PLEASE

time for the every friday portion of LES MILLS GRITT work out, gotta stay sharp, cause when the price is gonna take of, then i do not want to miss a second........
 

[Phil_S]

I usually roll my eyes when I hear "Taxation is theft", but this?

Them wanting to tax the cash in my wallet sounds crazy to me...

Yet you guys are talking about it like it's most normal and reasonable thing.

Mind-boggling.

[Yaplatu]

At last, some Tether evidence!

https://tether.to/wp-content/uploads/2018/11/Tether-Letter.pdf

Thought they had 2 separtate accounts with 2 separate banks?  Do you have a balance statement from the other one?

The letter is linked from here
https://tether.to/tether-banking-relationship-announced/

Tether has a market cap of $1.77B, this letter confirms the bank has  $1.83B.

It's not conclusive, only a full audit would give that degree of certainty. But it's actual evidence, which is something the Tether arguments have been lacking for many months.

Bad new for Tether :

" Bank Tied to Tether Goes Quiet on Relationship With Crypto Firm " ==> https://www.bloomberg.com/news/articles/2018-11-02/bank-tied-to-tether-goes-quiet-on-relationship-with-crypto-firm

[Last of the V8s]

So Bloomberg's finest got through to a secretary who said 'no idea' and 'nunya bizniz anyways' and an article was born.

[Biodom]

In other worlds, CZ
https://www.reddit.com/r/CryptoCurrency/comments/9tewfh/binance_signs_up_40000_crypto_traders_in_its/ ...First Week in Uganda

just for kicks, see "Time traveler" report/retort.
not my opinion, but quite curios...mentions africa specifically.
https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
Something like a dystopia, which can teach us something, but what?
No disrespect, but bitcoin in Africa/Uganda would not result in anything good long term, IMHO.

Would Blockchain space in Nevada become a "Citadel"?
Or, maybe, Malta would have first dibs since it is in a nicer environment?

[jbreher]

At last, some Tether evidence!

https://tether.to/wp-content/uploads/2018/11/Tether-Letter.pdf

Yeah but...

They show a balance of about $1.8B, while Tether market cap (according to CMC) is about $2.5B.

edit: $1.8B. Mea culpa. I swear that browser tab couldn't have been more that a couple days old. Where did $700 million go overnight? Still...

For some reason, this does nothing to assuage my skepticism.

[jbreher]

WAY better than nothing. Though "portfolio cash value" is not the same as USD Fiat on deposit. It could be all on Tesla stock for what we know or any sort of high risk high yield investments.

The portfolio may even be in the form of Tether!

P.S.: Also one single signature from some UNIDENTIFIED person and not even an official bank seal..... It's almost comical when you are certifying almost 2 Billion USD.

For reals, dude.

[Last of the V8s]

At last, some Tether evidence!

https://tether.to/wp-content/uploads/2018/11/Tether-Letter.pdf

Yeah but...

They show a balance of about $1.8B, while Tether market cap (according to CMC) is about $2.5B.

For some reason, this does nothing to assuage my skepticism.

mebbe you misread
cmc vol is 2.5, cap is 1.7
dunce hat for u  

but yeah, letter schmetter

[cAPSLOCK]

Look at those Bollinger bands on the 1D and 3D charts.

[DaRude]

WAY better than nothing. Though "portfolio cash value" is not the same as USD Fiat on deposit. It could be all on Tesla stock for what we know or any sort of high risk high yield investments.

The portfolio may even be in the form of Tether!

P.S.: Also one single signature from some UNIDENTIFIED person and not even an official bank seal..... It's almost comical when you are certifying almost 2 Billion USD.

For reals, dude.

"USD Fiat on deposit" is nothing if you don't know their debts. i.e. money could've been borrowed for a day and deposited to the account short term just for the letter. Bottom line, it's most likely illegal and will always require trust in 3rd party. Those that don't know history are doomed to repeat it.

[kenzawak]

Can someone make Arthur Hayes shut up ?

https://www.ccn.com/bitcoin-price-bitmex-ceo-doubles-down-on-bear-call-says-btc-could-fall-to-2000/

CCN reported earlier this week that Hayes, a former Citigroup trader, is now predicting that the bitcoin downtrend could last another 18 months, mirroring the “nuclear bear market” the crypto industry experienced in 2014 and 2015. Writing in Friday’s edition of the BitMEX Crypto Trader Digest, Hayes doubled down on that portentous outlook.

[Hawkix]

Look at those Bollinger bands on the 1D and 3D charts.

All my charts are 2D. Not enough money for better monitor.

[julian071]

I usually roll my eyes when I hear "Taxation is theft", but this?

Them wanting to tax the cash in my wallet sounds crazy to me...

Yet you guys are talking about it like it's most normal and reasonable thing.

Mind-boggling.

Yeah I think we all just see the writing on the wall, you're not getting away from the Government taking their share especially if it has value and we all agree Bitcoins going to long term go up. I mean you can buy things directly for btc but I think vendors include sales tax in most of it. (Newegg for example)

But the tax on just your holdings fuck that including cash, no thanks. Is that some socialism bullshit that's favored there?

Paying your taxes is not socialism, it's patriotism.

Anyway I much prefer the way the taxes work in NL, no taxes whatsoever on trading including 'cashing out' (should really be called cashing in btw), just a very reasonable taxation on holdings, excluding the first 25k and minus debts. Most of the world is much worse off having all these taxable events like trading. They must all be socialist countries then I guess.

[cAPSLOCK]

Look at those Bollinger bands on the 1D and 3D charts.

All my charts are 2D. Not enough money for better monitor.

Well.. the bands are saying you are gonna see a big move one way or the other very soon.  Maybe that money is on the way?  Or maybe the bottom is about to drop out.  The weight of those two possibilities is not in the bands... it's in the fundamentals IMO.

Last time they were hanging around this width was the end of 2016.

[Biodom]

At last, some Tether evidence!

https://tether.to/wp-content/uploads/2018/11/Tether-Letter.pdf

Yeah but...

They show a balance of about $1.8B, while Tether market cap (according to CMC) is about $2.5B.

For some reason, this does nothing to assuage my skepticism.

Market cap is 1.768 bil according to CMC (checked just now).
2.5 bil is what they CAN issue, but only 1.768 bil is issued, presumably after they "burned' 0.5B in tokens recently (probably to get to the balance).

[jbreher]

Interesting, I think when I finally start cashing large portions of my HODLING’s I’m going to have to try & emigrate. I am not willing to pay 45% tax on what I sell.

If you're 'merkin, emigrating does nothing to solve the tax problem. They's extract it from you no matter where you be.

[Biodom]

Can someone make Arthur Hayes shut up ?

https://www.ccn.com/bitcoin-price-bitmex-ceo-doubles-down-on-bear-call-says-btc-could-fall-to-2000/

CCN reported earlier this week that Hayes, a former Citigroup trader, is now predicting that the bitcoin downtrend could last another 18 months, mirroring the “nuclear bear market” the crypto industry experienced in 2014 and 2015. Writing in Friday’s edition of the BitMEX Crypto Trader Digest, Hayes doubled down on that portentous outlook.

How the does he know that?
Trace Mayer was saying that market would go to 28K, it went to 20K and stopped cold.
Now Trace is saying that 3.5K is possible, however, maybe it's already done it's bear cycle (mostly).

Nobody knows what the market would do, and if they do, ostensibly, they are not going to tell us.

Is 2k possible. maybe, but is it likely-f, NO.

[LFC_Bitcoin]

Interesting, I think when I finally start cashing large portions of my HODLING’s I’m going to have to try & emigrate. I am not willing to pay 45% tax on what I sell.

If you're 'merkin, emigrating does nothing to solve the tax problem. They's extract it from you no matter where you be.

That 45% was UK wasn't it? It's 15% tops US I'm pretty sure.  

Edit: in the US if you're in the top tax bracket you pay 20% on the gains. Fuck Europe and UK taxes the shit out of you.

I was wrong.
gentlemand said it’s 20% capital gains tax on bitcoin. I’ve literally never declared anything I’ve sold & that includes all of the free BCH I cashed in over the last year.

This is all for future reference obviously (not going to get away with selling when it’s north of 50 k per coin) , I plan to HODL all of my bitcoin’s for at least another 3 maybe 4 years.

[jbreher]

I usually roll my eyes when I hear "Taxation is theft", but this?

Them wanting to tax the cash in my wallet sounds crazy to me...

Yet you guys are talking about it like it's most normal and reasonable thing.

Mind-boggling.

yeah....

If you believe that a band of thugs extracting what they want from you at gunpoint under color of law is in any way legitimate, what the hell difference is it if they do it based upon income or based upon current net holdings? From an ethical standpoint, it is the exact same thing.