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

[RoomBot]

If a european moved to PR, what would the tax situation look like?

I'd be more worried about hurricane shelters than tax shelters in Puerto Rico. On the plus side, you probably won't run out of paper towels anytime soon.

No, Trump took all the paper towels back with him on AF1.  Just a photo-op.

 

Don't ANYONE approach the Orange Cheeto about Bitcoin.  He'll flip, he'll flop, he'll create total chaos.  Keep him focused on the stock market, FFS.

[fillippone]

Carney's libra-like ideas are meaningless without multiple major countries backing it and I don't see anyone even acknowledging it (so far).

Libra-like ideas already exist: they are called SDR and are backed by IMF.
As SDR aren’t backed by any countries, actually they are opposed by many countries (because, you know, controlling world reserve money means power), they are pretty much unused.
This is the point: Libra doesn’t need the backing of countries to succeed.
Libra could succeed where IMF failed.

[lightfoot]

In the meantime it's looking like a good time to drop gold you hold and not bitcoins.

Cool time to be alive.

[Biodom]

In the meantime it's looking like a good time to drop gold you hold and not bitcoins.

Cool time to be alive.

I don't mind gold going up as it increases the value we can eventually take via wealth transfer from gold toward bitcoin (from the old to the new). However, everybody was predicting a retrace of 1300-1350. Instead, gold ripped up (for now)

[JayJuanGee]

This is amazing... back in 2009:



https://twitter.com/DrBitcoinMD/status/1165004233663496197

Yeah, but sad to see Hal make such a logic error. If the currency equalled the value of worldwide wealth, that would make all wealth the currency, leaving real wealth -- houses, cars, industrial equipment, agricultural stocks ... everything -- completely worthless.

I think that  you have a decently good point there, jbreher.

You gotta just count the value of various kinds of currencies that could be possibly be absorbed into bitcoin, and some of them are going to retain some value, even gold will not become worthless, and likely some paper currencies are still going to exist too.

So the top number should be reconsidered in light of those kinds of factors regarding which values are likely to flow into bitcoin, and surely there is still a decently amount of more room for bitcoin to grow, and $20 trillion does not seem  to be out of range, especially given that gold is about $7 trillion just by itself, and bitcoin is likely better than gold, even though a chunk of gold might make you feel good to hold in your hands, there is something pure about the liquidity of bitcoin being able to move it, store it, divide it and verify it with a lot better ease and more cheaply than gold without those third parties getting in the way, either.

[JayJuanGee]

Things are becoming more and more chaotic.
My preference would be for flat equities and for bitcoin to appreciate against this background.
It does not look this way at the moment.
Dow is actually below its Jan 22, 2018 value, some bull market we have. Oh, well.

I am still of the opinion that bitcoin needs at least a flat market to grow.
If stocks would get seriously smashed, btc would decline as well, at least initially.

Carney's libra-like ideas are meaningless without multiple major countries backing it and I don't see anyone even acknowledging it (so far).

You are surely coming off as a weak hand, Biodom.... like you are easily scared into doing something crazy, like selling on the way down (or worse at the bottom)...     

[realr0ach]

The list of reasons to hold bitcoin keeps growing:

There's no reason to support ANY imaginary, valueless, digital shitcoin, govt tracking system, you 3 IQ idiot.  It's playing out exactly as I said all along:

https://www.zerohedge.com/news/2019-08-23/unprecedented-shocking-proposal-boes-mark-carney-urges-replacing-dollar-libra

ANY support for these valueless shitcoins just gives credence to the govt's Chinese social credit score, cashless society slavery system they're trying to impose.  You're sitting here like a fucking drooling retard cheering for your own enslavement when you could just boycott all of this garbage, tell the govt and the evil cult of Judaism terrorists that they can go fuck themselves, you won't touch any of their digital scams, and insist on using only physical metals instead.

[realr0ach]

I think Carney really just wants to make Bitcoin the Global Reserve, he just brought up "Libra-like" as a Trojan Horse.  His Corn bags are full of course.  

Get this dumb idea out of your head pretending the govt is going to adopt Bitcoin as the 'world reserve currency'.  Govt's operate currency under the MO of seigniorage fee.  Meaning it costs 12 cents to make a $100 bill and they try to 'sell' the worthless bill to you for $99.88 profit.  They will do THE EXACT SAME THING in any digital shitcoin paradigm - create their own shitcoin out of thin air and try to force it onto you instead of going anywhere near Bitcoin because Bitcoin doesn't allow them to extract seignorage fee.  

This is also why it's FAR FAR more likely if people reject all govt fiat that they would go to physical metals as money over Bitcoin since the govt controls the land's resources and can mint up some silver and gold coins then slap a face value on them 50x higher than their cost of production to try and extract seigniorage fee that way.

[VB1001]

Corporate Bailouts:
1970: $3.2B
1971: $1.4B
1975: $7.8B
1980: $4.0B
1984: $9.5B
1989: $293B
2001: $18.6B
2008: $30B
2008: $400B
2008: $180B
2008: $25B
2008: $700B
2008: $280B
2009: $142B

Instead of punishing banks and companies for failing, governments just give them a raise.

https://twitter.com/Rhythmtrader/status/1164906629239889920

Seeing this Twitt, I have searched for more info ... > https://www.propublica.org/article/government-bailouts

So here... > https://projects.propublica.org/bailout/list

Or more detailed, here... > https://projects.propublica.org/bailout/list/simple

This happens in all countries.

Thx, Satoshi, If this works out, we'll send them all to hell.

[GeoRW]

Looks like the IRS is hell bent on destroying investors...
https://cointelegraph.com/news/crypto-taxation-around-the-globe-what-do-regulations-look-like

Countries without tax on crypto

Malta
Portugal
Belarus
Panama
Puerto Rico
Singapore (individuals don't pay tax on profits from the crypto trading)
Slovenia (if you have less than 100 tradable days per year)
Germany (if you hold at least 1 year)
Liberland (very pro-bitcoin micro state)
Austria (if you hold at least 1 year)

Denmark is still taxless. It won't STAY that way, getting out while I can.

As a private person, non professional, prfits from monetary metals and BTC are taxfree in Belgium also. Even no need to declare as income.

How are they going to know that you are holding crypto if you do not publicly disclose your addresses? It's only possible if someone is willingly paying their tax and one should do so.

KYC. At some point most people have to get on a gateway to convert fiat to crypto and, at least in the developed countries, those are increasingly requiring stringent identification. Additionally there are some smart people that are already creating tools to track wallet movement and they can use a variety of techniques to tie those to people and groups. Basically, it wouldn't be smart to count on avoiding the taxman.

The taxman is not interested in our crypto holdings, because they are not taxable. That is why we do not need to declare anything. The legal concept is that we buy gold or crypto with already income taxed fiat.

But once you sell it for fiat, they are interested to tax your profit. At least in my country.

[Negotiation]

Things are becoming more and more chaotic.
My preference would be for flat equities and for bitcoin to appreciate against this background.
It does not look this way at the moment.
Dow is actually below its Jan 22, 2018 value, some bull market we have. Oh, well.

I am still of the opinion that bitcoin needs at least a flat market to grow.
If stocks would get seriously smashed, btc would decline as well, at least initially.

Carney's libra-like ideas are meaningless without multiple major countries backing it and I don't see anyone even acknowledging it (so far).

You are surely coming off as a weak hand, Biodom.... like you are easily scared into doing something crazy, like selling on the way down (or worse at the bottom)...     

Same thing with me 1 year beforehand time has passed When the money is low and there are many problems around(Example: political problem, family problem, official problem etc.) the only thought is how to get profitable.

 Don't worry @Biodom expectation one day we are glad more than 2018 price.

[VB1001]

https://twitter.com/Bitcoin/status/1164979548087152640

[vroom]

some news from captain obvious:

The reason for that, argue Valerie Khan, VP of the Digital Equity Association, and Geoffrey Goodell, senior research associate at University College London's Centre for Blockchain Technologies, is that Facebook is interested not in finance but identity.

source: https://www.theregister.co.uk/2019/08/22/facebook_libra_cryptocurrency/

[VB1001]

via Imgflip GIF Maker

The whales are dancing?

[El duderino_]

The list of reasons to hold bitcoin keeps growing:

Imagine five years ago if in one solitary week the president of the United States of America -


Referred to himself as 'the chosen one'

'Hereby' ordered all American companies to leave China just like that.

Attempted to buy another country and called the PM of its custodian 'nasty' and cancelled his visit when they said they weren't too keen.


Truly, we are living in v strange times.

But Obama ordered a hamburger with Dijon mustard

https://youtu.be/cAvq12Sa3VE

So that makes it even

And in Pulp fiction... Samuel L Jackson gets crazy, we Belgium guys eating French fries with mayonaise

Are you Flemish or Walloon?

GL i’m Flemish

[El duderino_]

via Imgflip Meme Generator

I could get used to this

[Negotiation]

Bull Shit ‘👍’

Fantastic art by @Uday Deb
Source: https://web.facebook.com/photo.php?fbid=10217452084668499&set=a.3279219253794&type=3

[HairyMaclairy]

via Imgflip Meme Generator

I could get used to this

That’s not bad....

[El duderino_]

Morning HM 

[HairyMaclairy]

Morning Mic, trust you are not hungover?