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

[HairyMaclairy]

Is this article correct?

I would have thought that you could carry forward capital losses to offset against future capital gains without being subject to a $3000 cap.  

[1714304545]

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[1714304545]

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[JayJuanGee]

We've had this discussion already, haven't we.

::sigh:: Indeed, we have. Yet you continue to re-engage.

You don't have any right to defend any bcash bashing here.

This thread is bitcoin, not bcash, so stop trying to assert that you are on equal grounds when you continue to support a bitcoin attack vector.

Luv ya, JJG. Now fuck right off.

Hey Jbear I got a great deal for you (limited time offer).  

If you swap all of your remaining Bitcoin for SV you will immediately get a 45x return.  And that’s not all, you will have the satisfaction of devoting your financial resources to the network that represents Satoshi’s Vision^TM.  How amazing is that?

It would be the strongest endorsement you could give, and an opportunity to show us minimalists the way.

Go on, lead by example !

How is that in any way _you_ having a deal for _me_? The way any rational person would see it, you are a totally disinterested party merely making a statement to troll me.

Congrats. I replied. Everybody merit HairyMaclairy for the successful troll job, in order to show solidarity with the troll job. I'll start.

You, jbreher, are showing signs of delirium.....

[VB1001]

Is this article correct?

I would have thought that you could carry forward capital losses to offset against future capital gains without being subject to a $3000 cap.  

It will be correct if the tax regulation of your country allows it.

https://www.nasdaq.com/author/bitcoin-magazine

Bitcoin Magazine
Bitcoin Magazine is the world’s first and foundational digital currency publication, covering the innovative ideas, breaking news and global impact at the cutting-edge intersection of finance, technology and Bitcoin. Published by BTC Media, the online publication serves a daily international readership from its headquarters in Nashville, Tennessee. For more information and all the breaking news and in-depth reports on Bitcoin and blockchain technology, visit BitcoinMagazine.com.

[birr]

Breaking news:  bitcoin's not in a bear market.
Price is in the pocket.
We've never had a real bear market, as opposed to deflating bubbles.
Maybe if the price takes a dive below that red line, we'll have some food for thought.

[bitserve]

Is this article correct?

I would have thought that you could carry forward capital losses to offset against future capital gains without being subject to a $3000 cap.  

It depends on the country. There are limits on:

- How much you can compensate each year
- How many years do you have to compensate the remaining.
- Against what can be compensated and against what it can't.
- etc

And also requirements like:

- How many time it has to pass between the sell and the re-buy or you can't compensate anything.
- etc

It also changes if you are an individual person, a person acting as a business, or a corporate, etc...

etc etc...... #DYOR #AskYourLocalFinancialExpert

This post does not constitute financial advise blah blah blah

[Majormax]

Breaking news:  bitcoin's not in a bear market.
Price is in the pocket.
We've never had a real bear market, as opposed to deflating bubbles.
Maybe if the price takes a dive below that red line, we'll have some food for thought.

BTC is definitely in a Bear Market relative to its own adoption curve..

The terms Bear and Bull market are simply used to demarcate phases of price activity. In a Bear phase, price acts in a distinctly different way from a Bull phase.  You can name the market as you wish, but the phase of activity now is distinctly different from 2016-2017.

Looking at the full chart there, we can see that the upper trendline does not reach the a new all time high until 2020, and the lower trendline until late 2021.

[birr]

the upper trendline does not reach the a new all time high until 2020, and the lower trendline until late 2021.

If we stay in the channel, yes.  I would be fine with that, in fact I would prefer that to a continuation of the volatility we've experienced historically.

[AlcoHoDL]

Proof of keys? I control my own keys thank you.

Trusted third parties? Isn't that an oxymoron?

I haven't had any coins on an exchange since MtGox. Luckily that mistake only cost me 50BTC. Never again.

Closest thing I have to a trusted third party is my Trezor which I somehow got talked into using against my better judgment. Luckily I only have 5BTC on it. I stopped using it last year after having it for less than half a year.

Obviously cold ("paper" wallet) storage is much more secure. Only I have control over the keys and they're never exposed to the internet except when I sweep a wallet into Mycelium to transfer coins and that's only small amounts for short periods of time.  

This is why it's good to spread your stash between dozens or hundreds of small wallets. My biggest single wallet has a little over 30 coins in it (from pulling out what I had at Cavirtex after being Goxed) but I'm almost scared to sweep it to split it into smaller wallets because that would entail risking that many coins at once by exposing them to the internet.

I suppose I should empty my Trezor on Genesis Block Day as a way to assert ownership of my keys instead of trusting Trezor. Then again why wait until Jan. 3?

Jimbo, rest assured. With a TREZOR, you control the keys. Your seed words are the keys. It's just a different form of storage. On paper, you are storing them using ink. With a TREZOR, they are just electrons in a FLASH memory chip. They are both stored locally. No one else but you has control over them. And TREZOR has the added bonus of protecting your keys in case it's stolen (can't easily read those electrons unless you have the PIN). If your paper wallet gets stolen, your coins are gone (they're just a QR code sweep away)...

[Ibian]

Proof of keys? I control my own keys thank you.

Trusted third parties? Isn't that an oxymoron?

I haven't had any coins on an exchange since MtGox. Luckily that mistake only cost me 50BTC. Never again.

Closest thing I have to a trusted third party is my Trezor which I somehow got talked into using against my better judgment. Luckily I only have 5BTC on it. I stopped using it last year after having it for less than half a year.

Obviously cold ("paper" wallet) storage is much more secure. Only I have control over the keys and they're never exposed to the internet except when I sweep a wallet into Mycelium to transfer coins and that's only small amounts for short periods of time.  

This is why it's good to spread your stash between dozens or hundreds of small wallets. My biggest single wallet has a little over 30 coins in it (from pulling out what I had at Cavirtex after being Goxed) but I'm almost scared to sweep it to split it into smaller wallets because that would entail risking that many coins at once by exposing them to the internet.

I suppose I should empty my Trezor on Genesis Block Day as a way to assert ownership of my keys instead of trusting Trezor. Then again why wait until Jan. 3?

Jimbo, rest assured. With a TREZOR, you control the keys. Your seed words are the keys. It's just a different form of storage. On paper, you are storing them using ink. With a TREZOR, they are just electrons in a FLASH memory chip. They are both stored locally. No one else but you has control over them. And TREZOR has the added bonus of protecting your keys in case it's stolen (can't easily read those electrons unless you have the PIN). If your paper wallet gets stolen, your coins are gone (they're just a QR code sweep away)...

Yes, if trezor is as secure as advertised. Do we know this?

[Lambie Slayer]

Is this article correct?

I would have thought that you could carry forward capital losses to offset against future capital gains without being subject to a $3000 cap.  

It depends on the country. There are limits on:

- How much you can compensate each year
- How many years do you have to compensate the remaining.
- Against what can be compensated and against what it can't.
- etc

And also requirements like:

- How many time it has to pass between the sell and the re-buy or you can't compensate anything.
- etc

It also changes if you are an individual person, a person acting as a business, or a corporate, etc...

etc etc...... #DYOR #AskYourLocalFinancialExpert

This post does not constitute financial advise blah blah blah

In USA the 3000 cap is only on ordinary income(mainly of wages, salaries, commissions and interest income (as from bonds or cds). There is absolutely no cap or limit to how much you carry forward capital losses to offset capital gains and you can carry it forward for as long as you live. Loss harvesting is a huge part of the plunge to the end of the bear market we just witnessed. Large amounts of investors did take some profits in 2018 after the epic rise. These profits were capital gains and so they of course would owe taxes on them in 2019. Now its not hard to imagine tons of people taking a lot of profits like Boblaw and Jimbo early in 2018 and then later seeing prices much cheaper than where they sold out at. So at some point they buy some coins back cheaper than they sold, but still owe taxes come 2019. Now fast forward to the end of 2018 and these investors see the coins they bought back cheaper have lost substantial value, they understand that US wash sale rules do not apply to crypto https://cryptotaxprep.com/wash-sales-what-every-bitcoin-investor-should-know/ so it becomes very attractive for them to sell the coins at a loss with the intent to quickly repurchase them so they have the same amount of coins but a lower tax burden for 2019. However due to the economic substance doctrine https://en.wikipedia.org/wiki/Economic_substance in US tax law an investor should wait a day or two to repurchase the coins or the IRS can challenge it(disallow the loss) and say the transaction had no economic substance other than to lower their tax burden. If you wait a few days you have exposed yourself to market risk and are not violating the economic substance doctrine because your transaction had the intent of making profit in of itself and you took the risk of losing. So now imagine investors selling late in the year around 6k with the intent to buy back a few days or weeks later and this triggers a break in 6k support. Well now the tax loss harvesters are in no rush to buy back bc they can get way more coins than they started with bc coins have dropped massively so they sit back and let it play out. As it plummets you have people that bought in at 6k are reading the many msm articles about loss harvesting
 like this one https://www.forbes.com/sites/tysoncross/2018/11/19/year-end-tax-tips-and-strategies-for-cryptocurrency-investors/#5f87275a5dda and realize they too can harvest losses by selling at 5k, 4k, 3.5k etc, so they now sell fueling the fast cascade down. Then when it gets to around 3k the earliest tax loss harvesters say "well shit, lets not be too greedy here, I can get double the coins I had originally and save a ton on taxes." And that is how we find ourselves in a brand new bull market at the very end of loss harvesting season. Loss harvesters only have a handful of hours left to sell cheap and realize a loss. https://www.timeanddate.com/countdown/newyear

Happy New Years!

Believe in The Bull and 100k will come. (or dont believe and short and it will come anyway and rekt you!)
The ancient philosopher Jesus spoke of the powerful drug Hopium and its benefits in his teachings.

Matthew 17:20 Jesus said unto them "Because you smoke so little Hopium. Truly I tell you, if you smoke enough Hopium as small as a mustard seed, you can say to this mountain, 'Move from here to there,' and it will move. Nothing will be impossible for you."

[Totscha]

Proof of keys? I control my own keys thank you.

Trusted third parties? Isn't that an oxymoron?

I haven't had any coins on an exchange since MtGox. Luckily that mistake only cost me 50BTC. Never again.

Closest thing I have to a trusted third party is my Trezor which I somehow got talked into using against my better judgment. Luckily I only have 5BTC on it. I stopped using it last year after having it for less than half a year.

Obviously cold ("paper" wallet) storage is much more secure. Only I have control over the keys and they're never exposed to the internet except when I sweep a wallet into Mycelium to transfer coins and that's only small amounts for short periods of time.  

This is why it's good to spread your stash between dozens or hundreds of small wallets. My biggest single wallet has a little over 30 coins in it (from pulling out what I had at Cavirtex after being Goxed) but I'm almost scared to sweep it to split it into smaller wallets because that would entail risking that many coins at once by exposing them to the internet.

I suppose I should empty my Trezor on Genesis Block Day as a way to assert ownership of my keys instead of trusting Trezor. Then again why wait until Jan. 3?

Jimbo, rest assured. With a TREZOR, you control the keys. Your seed words are the keys. It's just a different form of storage. On paper, you are storing them using ink. With a TREZOR, they are just electrons in a FLASH memory chip. They are both stored locally. No one else but you has control over them. And TREZOR has the added bonus of protecting your keys in case it's stolen (can't easily read those electrons unless you have the PIN). If your paper wallet gets stolen, your coins are gone (they're just a QR code sweep away)...

Yes, if trezor is as secure as advertised. Do we know this?

This is how much we know: https://www.youtube.com/watch?v=Y1OBIGslgGM

Basically:
The seed and PIN (sic!) can be extracted from a Trezor device. Not simply, but it is doable.

But... If you put a passphrase on the seed, the hacker can do shit...

[El duderino_]

aaaaaand why not?

#50K tonight

[AlcoHoDL]

Proof of keys? I control my own keys thank you.

Trusted third parties? Isn't that an oxymoron?

I haven't had any coins on an exchange since MtGox. Luckily that mistake only cost me 50BTC. Never again.

Closest thing I have to a trusted third party is my Trezor which I somehow got talked into using against my better judgment. Luckily I only have 5BTC on it. I stopped using it last year after having it for less than half a year.

Obviously cold ("paper" wallet) storage is much more secure. Only I have control over the keys and they're never exposed to the internet except when I sweep a wallet into Mycelium to transfer coins and that's only small amounts for short periods of time.  

This is why it's good to spread your stash between dozens or hundreds of small wallets. My biggest single wallet has a little over 30 coins in it (from pulling out what I had at Cavirtex after being Goxed) but I'm almost scared to sweep it to split it into smaller wallets because that would entail risking that many coins at once by exposing them to the internet.

I suppose I should empty my Trezor on Genesis Block Day as a way to assert ownership of my keys instead of trusting Trezor. Then again why wait until Jan. 3?

Jimbo, rest assured. With a TREZOR, you control the keys. Your seed words are the keys. It's just a different form of storage. On paper, you are storing them using ink. With a TREZOR, they are just electrons in a FLASH memory chip. They are both stored locally. No one else but you has control over them. And TREZOR has the added bonus of protecting your keys in case it's stolen (can't easily read those electrons unless you have the PIN). If your paper wallet gets stolen, your coins are gone (they're just a QR code sweep away)...

Yes, if trezor is as secure as advertised. Do we know this?

This is how much we know: https://www.youtube.com/watch?v=Y1OBIGslgGM

Basically:
The seed and PIN (sic!) can be extracted from a Trezor device. Not simply, but it is doable.

But... If you put a passphrase on the seed, the hacker can do shit...

So, which of the following is the easiest?

1. TREZOR: steal the device, then use the extraction method you refer to above to get the seed (and coins).
2. TREZOR: steal the device, then spend eternity trying to crack it (because it's passphrase-protected).
3. Paper Wallet: steal the wallet, then simply sweep the QR code to get the coins!

I'd go with a TREZOR...

[Totscha]

...
Yes, if trezor is as secure as advertised. Do we know this?

This is how much we know: https://www.youtube.com/watch?v=Y1OBIGslgGM

Basically:
The seed and PIN (sic!) can be extracted from a Trezor device. Not simply, but it is doable.

But... If you put a passphrase on the seed, the hacker can do shit...

So, which of the following is the easiest?

1. TREZOR: steal the device, then use the extraction method you refer to above to get the seed (and coins).
2. Paper Wallet: steal the wallet, then simply sweep the QR code to get the coins!

I'd go with a TREZOR...

Obviously stealing a paper wallet is simpler...

[Globb0]

Good Poirot last few days



 

[El duderino_]

^^
stealing the paper or the device is the same just a very littke of weight difference

[El duderino_]

Good Poirot last few days



 

https://bitcointalk.org/index.php?topic=4710399.160

 

[AlcoHoDL]

^^
stealing the paper or the device is the same just a very littke of weight difference

The difference is, if you steal my TREZOR, you ain't getting my coins... You need both my TREZOR and what's in my brain to get to my coins. But if you steal Jimbo's paper wallets, you already have his coins...

[Totscha]

^^
stealing the paper or the device is the same just a very littke of weight difference

The difference is, if you steal my TREZOR, you ain't getting my coins... You need both my TREZOR and what's in my brain to get to my coins. But if you steal Jimbo's paper wallets, you already have his coins...

IF you have a passphrase https://wiki.trezor.io/Passphrase set up on your Trezor, then your coins are safe if the device is stolen. Not to be confused with the PIN.

Not done simply, but it is possible...

[El duderino_]

^^
stealing the paper or the device is the same just a very littke of weight difference

The difference is, if you steal my TREZOR, you ain't getting my coins... You need both my TREZOR and what's in my brain to get to my coins. But if you steal Jimbo's paper wallets, you already have his coins...

use nano s/blue myself same thing .....