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

[bkbirge]

The fallacy with Biden's statement to his base is that the assumption is that only (or mostly) rich people invest. There is a large amount of the middle class that realize between the looming social security/medicaire bankruptcy and the lack of any sort of pension from the workplace that the only way to have a chance at surviving into retirement we need to invest. Taxing those people at max capital gains destroys their futures.

But Biden still lives in the past where there were strong unions and pensions and a large part of the dem base is very young and haven't figured out yet how screwed they are about their later years (or are just completely hopeless about them and aren't even planning).

Caught between the GOP gutting social security and medicaire, and the DNC wanting to tax the rich with ill thought plans that effect everyone, the middle class is getting squeezed as usual from both parties. The poor are pretty much the same as always, poor.

[d_eddie]

Indeed the middle class has a hard time finding some inspired leader to voice their issues. That's not only the USA, as far as I know (admittedly not that far).

By the way, I just caught up, with unsuitable equipment and a spotty connection! I had to skip some, or fly over the longest posts (nothing personal, amigo).

[gembitz]

sex is pumping!     Lol!!

[STT]

There is a higher probability that bitcoin will outperform gold in the next crisis.

Its a fair point, BTC does have this dynamic and it creates sharp rises that will not occur (as much) with conventional commodities.    The reply from the mainstream will be the source of crypto is infinite and there is no unique element BTC has and so greater demand will produce greater supply from the ability to create alt coins and tokens.  
  In fact we did really see this on the last big rally, we had the demand and an incredible surge of ICO I saw from many different sectors not related to crypto normally.    In a way that was quite natural and of course everyone does it for a profit but thats fine as that is an open market and it fell back as growth was not delivered in the main unfortunately or at least immediate returns were not there, I hope some of those projects succeed at least.

   So that infinite variety of crypto already happened under demand and we seem to continue to have demand and the main choice of BTC is increasing its market dominance.   I dont think its going to be so simple as BTC must now be the only choice, I still think the market demands innovation for success and BTC has to be as easy to use as a remote control if you want a wider section of the population to use it.   Whatever criticism gold has, its as simple as pie what it is and how it will proceed and I have no doubt there is demand there for it to rise over decades as a monetary standard relative to failed FIAT standards.


BTC still bullish above the last low 9755 but I've not had a positive outlook since we left the April uptrend.   50 day MA caps the upside


RE:  supply and demand, central banks 'giving away' money I think is unbelievable but so are many things true now beyond imagination a few years ago.   Pretty sure I dont disagree with this guy - https://www.youtube.com/watch?v=UBXjlNNNFus

[Biodom]

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)...    

you are projecting...I am hodling btc, selling a bit of equities (including GLD, which was just a profitable trade).
I will sell some, though, if Biden would look like winning. I paid 39.6 % before during a good year in the internet "bubble" and it was brutal.

Some people don't know these facts, but for US citizens there are two-three relevant rules:
1. If you have capital gains, you pay 15-20% for long term (more than 12 mo) plus additional 3.8% (NIIT) on gains when you have above 200K AGI and up to maximum rate (37%) for short term trades. Biden suggests that we should pay up to max tax on ALL trades, long or short. Maximum is 37% plus, maybe 3.8=40.8%.
2. It does not matter where your address is, as US citizen, you are still responsible for these taxes. The only exception is Puerto-Rico, but you have to actually LIVE there 183 days each year.
3. The way they truly get you is by taxing gains, but allowing only $3000 per year in losses. This way, you could be in a situation where you pay large gains one year, but are allowed only limited recourse (3K) when you have a large loss. I find this very unfair.

[Torque]

3. The way they truly get you is by taxing gains, but allowing only $3000 per year in losses. This way, you could be in a situation where you pay large gains one year, but are allowed only limited recourse (3K) when you have a large loss. I find this very unfair.

Yes, but any losses that exceed $3K you can roll over YoY.

[THX 1138]

Relaying response:

There is a higher probability that bitcoin will outperform gold in the next crisis.

Its a fair point, BTC does have this dynamic and it creates sharp rises that will not occur (as much) with conventional commodities.

Unfortunately not. Well the legacy Bitcoin will, but we will likely be stripped of our ability to cash out of it. Legacy Bitcoin will only be legal to cash out for those are loyal to the globalist, bankster bastards.

You guys ostensibly don’t understand what is really going on in terms of the Big Picture:

https://bitcointalk.org/index.php?topic=5157901.msg52251343#msg52251343

https://bitcointalk.org/index.php?topic=5147618.msg52247973#msg52247973
(read also my follow-up post, where I make a price and timing prediction from now to May 2020)

https://bitcointalk.org/index.php?topic=5157964.0

The May 2020 halving event is likely when the diehard Bitcoin maximalists get (according to one Goldman former Treasury official) “their fingertips burned up to their armpits” aka fleeced. After a nosebleed ATH before the halving, Core Bitcoin may crash to below $1000 and the blockchain may slow to one block per week.

Again note I am not a BSV-shill. BSV is likely a decoy employed by Craig to obscure that he is really reinstating legacy, immutable Bitcoin.

[vroom]

^ what is this shit and why do you relay it?

[Febo]

Meantime:

This altcoin looks, one day of school smarter from bitcoin.

[JSRAW]

Meantime:

This altcoin looks, one day of school smarter from bitcoin.

This picture is more suitable for alts IMHO. Right Lightfoot?

[Biodom]

3. The way they truly get you is by taxing gains, but allowing only $3000 per year in losses. This way, you could be in a situation where you pay large gains one year, but are allowed only limited recourse (3K) when you have a large loss. I find this very unfair.

Yes, but any losses that exceed $3K you can roll over YoY.

True, but it is still a limitation as there is no such limit on gains.
It is what it is.

[rebal15]

Meantime:

This altcoin looks, one day of school smarter from bitcoin.

This picture is more suitable for alts IMHO. Right Lightfoot?

All at the same time is probably the effect of centralization.

[realr0ach]

My future ex Tulsi is out of the upcoming debate so Yang is the next best (ultra slim) hope for a true Crypto friendly candidate. Any tax crazy lefty gets nominated and Im team Trump. Mayor Pete I would predict is unlikely to make a major tax hike so he wouldnt be to bad for a dem nominee. Luckily after watching most of Grandpa Joe's interviews and debates I can confidently say that he has early dementia setting in fast and his brain would turn to mush in a grueling election.

Extremely low IQ WO poster.  There's ABSOLUTELY ZERO difference in any dem candidate.  They're literally grade Z crisis actors reading off a script.  Like the other day as if zombies in unison they all simultaneously read from the same script using the same words saying "climate change is an existential crisis".  

There is no "climate change crisis".  c02 is a trace gas that's only 0.0391% of the atmosphere and is in absolutely no way capable of being the main driver of temperature.  c02 levels were even astronomically higher than they are now in the past when dinosaurs walked the earth.  It's always been a scam to try and force a tyrannical global govt.  Everyone will die if you do not give us all your rights and hand us infinite power!

[BitcoinGirl.Club]

Good evening WO!
Observing @ $10,070 while watching Liverpool vs Arsenal. We are 1 - 0 ahead by the way.

Come on Liverpool!

[BitcoinGirl.Club]

Nothing can stand out against Bitcoins 🤪

[realr0ach]

Roach, I found your mom for you. If you are wondering what she has been doing, she is running for City Council

https://www.washingtonpost.com/nation/2019/08/24/this-city-wanted-be-welcoming-then-candidate-vowed-keep-marysville-white-community/?noredirect=on

Well, you do support diversity, don't you?  There's probably too many noggers in Detroit and they need to make it more diverse by forcing all the noggers to leave and shipping in white people instead.  This woman is clearly politically correct.

[VB1001]

Good evening WO!
Observing @ $10,070 while watching Liverpool vs Arsenal. We are 1 - 0 ahead by the way.

Come on Liverpool!

I don't like football, but I'm glad for you and for LFC.

Let's go BTC

[lightfoot]

This picture is more suitable for alts IMHO. Right Lightfoot?

Pretty much. Alts have been having their asses kicked as of late. :-)

[BTCMILLIONAIRE]

https://www.atr.org/biden-capital-gains-tax-we-should-raise-tax-back-396-percent?amp

Biden made the remarks on Wednesday, August 21 during an interview with Iowa Public Television:

“I believe we should, in fact, the capital gains tax should be at what the highest minimum tax should be, we should raise the tax back to 39.6 percent instead of 20 percent,”

"Households subject to Obamacare’s 3.8 percent Net Income Investment Tax end up paying a 23.8% rate. And under Biden’s cap gains scheme, such households will face a 43.4 percent rate."

I dont think anyone brought this up yet on WO, and the media has hardly discussed it, but this is some serious shit if you are an American Bitcoiner like me. This would seriously affect my wealth when I cash out coins at key numbers like 100k and 1 million.  Trump is "no fan of Bitcoin", but holy shit, at least he would never double my tax rate.

My future ex Tulsi is out of the upcoming debate so Yang is the next best (ultra slim) hope for a true Crypto friendly candidate. Any tax crazy lefty gets nominated and Im team Trump. Mayor Pete I would predict is unlikely to make a major tax hike so he wouldnt be to bad for a dem nominee. Luckily after watching most of Grandpa Joe's interviews and debates I can confidently say that he has early dementia setting in fast and his brain would turn to mush in a grueling election. Hillary's past stumbling and feinting on the election trail looks competent to what Joe is starting to manifest.

TLDR: Fuck Grandpa Joe.

Bitcoin is the true candidate for 2020, everyone else is a pretender.

There are many countries you could move your residence adress to. We gave you a list of alternative countries with no tax and many commented about their country tax situation. So if you have 1 million, there shouldn't be a big problem for you.

The US taxes global income.

[BTCMILLIONAIRE]

Yeah no big problem, I can pickup a new language and build a new life for myself in just a week or two. Thanks buddy, what was I thinking

That’s pussyfoot talk.  If you aren’t agile, you are a sitting duck.  

Meh to me it would be pussyfooting to leave your home and people behind bc some gibbering dementia patient is trying to steal your money. I understand the agile sentiment, and I could move to another country with ease, but I dont typically look to run from problems anyway. Also some of the countries on that list look to be a few regulatory clarifications away from taxing crypto, PR is not a country and as Jbreher said not tax free for Crypto, and Liberland is a joke.

Hopefully Republicans maintain control of at least one branch and this doubling of cap gains never happens. If it does happen I would sell all coins and realize profits, pay taxes, then buy most of the coins back at a new cost basis before the law went into effect. This would alleviate a lot of the problem, then Id have to consider my options.

I would agree with your position if it was as you described. In reality however, that gibbering dementia patient is highly calculated and is stealing your money, rather than just trying to.