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

[Dabs]

In an audit, it would be hard to argue you didn't know about it or didn't have access to the coins, if they can show you as a prominent member of the bitcoin community and you had the expertise to access the coins.

That's messed up. Good thing I'm not under audit, and they can't show me as a prominent member of the bitcoin community. (But Bitcoin.com is the prominent community because they have the dot com domain name right? I'm not there at all.) Or that they could prove I had the expertise to access the coins.

That sucks for everyone else who is an expert.

As far as my country is concerned, I don't deal with bitcoin or crypto at all. I know as much as anyone else around these parts.

I understand, some of you guys have to pay taxes, so ... good luck with that.

"When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary income equal to the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency."

So, the value would be zero, if it's not listed on any exchange at the time of a fork, and it's not even listed on sites like coinmarketcap. No value = zero.

I mean, maybe 10,000 of that fork can buy a pizza, but if no merchant accepts it as payment, on the day of the fork, then it's not even worth a pizza.


On the other hands, really, guys, don't store your coins on an exchange, unless you were actually intending to trade or receive fork coins that way. That would also mean, the exchange knows you had an account with them and can use whatever reporting tools are accurate at the time with that exchange, if they are tax compliant and all that. Which means, shady exchanges that didn't do any KYC on you don't have your info anyway, so you can forget about them.

[Gyrsur]

Master Eddie how is your short doing? still hedged with low spread?

f**k me!

#nohomo

[rolling]

"When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary income equal to the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency."

So, the value would be zero, if it's not listed on any exchange at the time of a fork, and it's not even listed on sites like coinmarketcap. No value = zero.

I mean, maybe 10,000 of that fork can buy a pizza, but if no merchant accepts it as payment, on the day of the fork, then it's not even worth a pizza.

I think it would be harder to prove the value was zero than to prove it was something greater than zero. It can't default to zero. Zero is a number that must be supported as well. There is always someone doing OTC trades or an exchange somewhere doing futures.

If it turns out the coin can't be sold or transferred when you get around to it, or if you transfer to someone else for a few pennies, that could be a loss to offset the gain as long as you can justify the value. If you give them to someone though, that could be considered a gift and you couldn't claim a loss.

[ChinkyEyes]

via Imgflip Meme Generator

Phats, halloween masks, santa hats, Bitcoins all the same.
The economics in that game thought me a lot more than teachers in high school.

[Febo]

ETF decision (drum roll) REJECT rule change       https://www.sec.gov/rules/sro/nysearca.htm

Also, that 95% can't be separated from the real 5% in a reliable way that prevents the fake/unregulated/manipulated exchanges from affecting the price of the real exchanges.  

What could not be done yesterday can be done tomorrow.   I see a lot of efforts by many to find real volume. But most exchanges of course dont want to participate in it since higher volume makes them more appealing to attract the real traders.

[El duderino_]

Bakkt Posts 796% Increase in Bitcoin Trading Volume Overnight, Hits New All-Time High

https://twitter.com/RedditBTC/status/1182241763391672321?s=20

Didn't saw to much of that

[Raja_MBZ]

"Shall we play a game?"

I remember that guy pfffff please don’t be hacked or something 

Hehe, no, I'm not hacked. I actually received the very same message from my friend (who wanted to play multiplayer Call of Duty with me) yesterday and it was a bit surprising to see such a familiar message.

[LFC_Bitcoin]

Bakkt Posts 796% Increase in Bitcoin Trading Volume Overnight, Hits New All-Time High

https://twitter.com/RedditBTC/status/1182241763391672321?s=20

Didn't saw to much of that

That’s weird! Maybe the mini pump we saw yesterday from 81xx to 86xx was predominantly due to trades on BAKKT?

BAKKT won’t do much for the price in the short term but I guess the hope is that institutional money flows in once the avalanche of adoption comes in 2021?

I guess nobody wants to plough their money in now until/unless it’s a sure thing which only becomes apparent once a proper bull run starts.

BAKKT is there ready & waiting for the big money but it won’t go in until it’s obvious we’re going into another parabolic run.

[El duderino_]

"Shall we play a game?"

I remember that guy pfffff please don’t be hacked or something 

Hehe, no, I'm not hacked. I actually received the very same message from my friend (who wanted to play multiplayer Call of Duty with me) yesterday and it was a bit surprising to see such a familiar message.

I think mymenace or something was the guy trolling with that line....

He really drilled that line in my head

[d_eddie]

Master Eddie how is your short doing? still hedged with low spread?
#nohomo

Short not too happy yet, but improving slowly at the expense of the long. What's more important to me, my total margin is stable within 0.000004% - yes, that's 1/250,000. I'll cut down the losing branch as soon as she makes a solid move.

[El duderino_]

Damn it I have to correct a dude.....

"What do you do for a living?"

"I bought tezos 6 months ago."



https://twitter.com/jebus911/status/1182367727828123648?s=20

"I own BTC"

[Raja_MBZ]

"Shall we play a game?"

I remember that guy pfffff please don’t be hacked or something 

Hehe, no, I'm not hacked. I actually received the very same message from my friend (who wanted to play multiplayer Call of Duty with me) yesterday and it was a bit surprising to see such a familiar message.

I think mymenace or something was the guy trolling with that line....

He really drilled that line in my head

Yeah, he used to be just fine until he messed up the whole forum with that stupid sentence.

[El duderino_]

Master Eddie how is your short doing? still hedged with low spread?
#nohomo

Short not too happy yet, but improving slowly.

Until the BTC-hammer fall on that short  

[Gyrsur]

Master Eddie how is your short doing? still hedged with low spread?
#nohomo

Short not too happy yet, but improving slowly.

Until the BTC-hammer fall on that short  

no homo i guess 

[d_eddie]

Master Eddie how is your short doing? still hedged with low spread?
#nohomo

Short not too happy yet, but improving slowly.

Until the BTC-hammer fall on that short  

Jinxing me, brother?? 

[El duderino_]

Master Eddie how is your short doing? still hedged with low spread?
#nohomo

Short not too happy yet, but improving slowly.

Until the BTC-hammer fall on that short  

no homo i guess 

######

[Gyrsur]

Master Eddie how is your short doing? still hedged with low spread?
#nohomo

Short not too happy yet, but improving slowly at the expense of the long. What's more important to me, my total margin is stable within 0.000004% - yes, that's 1/250,000. I'll cut down the losing branch as soon as she makes a solid move.

Master, does it mean you open more shorts if the long is growing on the way above? I understand it this way.

[El duderino_]

Master Eddie how is your short doing? still hedged with low spread?
#nohomo

Short not too happy yet, but improving slowly.

Until the BTC-hammer fall on that short  

Jinxing me, brother?? 

Everything for a HIGH-BTC-price #

[Gyrsur]

######

^^this is GENIUS!!  

[d_eddie]

Master Eddie how is your short doing? still hedged with low spread?
#nohomo

Short not too happy yet, but improving slowly at the expense of the long. What's more important to me, my total margin is stable within 0.000004% - yes, that's 1/250,000. I'll cut down the losing branch as soon as she makes a solid move.

Master, does it mean you open more shorts if the long is growing on the way above? I understand it this way.

Yes, I brought the short up to the same size as the long when the price spiked, so their entry points are quite a bit closer now. If she goes down as I think she will, I'll cash out part of the short. If she goes up, I'll cash out part of the long. Ideally when she gets back, I can close both legs and keep the proceeds. Or maybe it will be more complicated, so I'll have to adjust things in progress because she likes to tease a lot. For now it's wait and see.