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

[HairyMaclairy]

Let’s pretend Biden doubles CGT.  Which isn’t going to happen

You will still be better off selling next year.  

Also, Biden isn’t going to do shit on taxes.  He’s got bigger fights on his hands like fixing Covid.  

[BobLawblaw]

You will still be better off selling next year.  

It's a good thing I have more to sell next year then, eh ?

More interested in getting Rick retired early, buying a nice 50-100 acre parcel of land, and start building something on it, sooner-than-later.

[LFC_Bitcoin]

I have the same concerns, Bob.

UK CGT is currently 20%.
There are rumours next April the UK Gov will increase it to be aligned with the normal tax rate for high earners (salaried) which is 45%.

I am really & I mean really not cool with paying 45% CGT. If they raise it that much I will be looking to emigrate.

[OutOfMemory]

You will still be better off selling next year.  

It's a good thing I have more to sell next year then, eh ?

More interested in getting Rick retired early, buying a nice 50-100 acre parcel of land, and start building something on it, sooner-than-later.

Just if i eventually missed it: You won't sell all your coins in near future, will you?

[bitebits]

Strap yourself in for retail FOMO buyers:


Nov 12, 2020
PayPal Removes Waitlist (U.S.) for New Crypto Service, Boosts Weekly Purchase Limit to $20K

https://www.coindesk.com/paypal-removes-waitlist-for-new-crypto-service

[HairyMaclairy]

You will still be better off selling next year.  

It's a good thing I have more to sell next year then, eh ?

More interested in getting Rick retired early, buying a nice 50-100 acre parcel of land, and start building something on it, sooner-than-later.

You guys have hung on for this long and I have to respect that. 

[jojo69]

Biden isn’t going to do shit on taxes.

[Biodom]

Let’s pretend Biden doubles CGT.  Which isn’t going to happen

You will still be better off selling next year.  

Also, Biden isn’t going to do shit on taxes.  He’s got bigger fights on his hands like fixing Covid.  

exactly...it has to be 85% cap gains on 100K..20% cap gains on 16K (if your cost is close to zero) is 3.8K, 12.2k profit.
If btc is 100K, tax has to be 88% to get the same profit. Zero chance for such tax and any tax higher than maybe 30% or so.
30% is possible...I paid 39.7% cap gains in 2000. That was a howler (forgot about short term vs long term when trading  )
BTW, I raised some cash from stonks. We might dip from here until spring, imho.

[BobLawblaw]

Just if i eventually missed it: You won't sell all your coins in near future, will you?

Plan on passing my Bitcoin HODLings onto my nieces and nephews upon my passing; rolling all that into the estate.

Have more BTC than Rick and I could reasonably blow in a lifetime (No delusions of grandeur here); provided we manage living to a ripe, old age - I, for one, plan to at least be a centenarian.

I would be genuinely surprised if I liquidate more than 300 BTC within my lifetime, after this latest move.

[nullius]

New wordy man is far more interesting than old wordy man.

There is something to be said about consistency.

Which one is more (less) consistent?  Asking for a friend.

Lets not try to answer questions about the fabric of time and space in haste.

This is a Conundrum that should be analyzed annually as new data is observed and correlated.

A conundrum, indeed:  One so consistent in principle, he will fight to the death for the privacy and anonymity that let you zombify and slowly kill yourself in secret.

<insert apocryphal pseudo-Voltaire about defending speech that one dislikes>

analyzed... as new data is observed and correlated.

Am I now under surveillance?

[HairyMaclairy]

I have the same concerns, Bob.

UK CGT is currently 20%.
There are rumours next April the UK Gov will increase it to be aligned with the normal tax rate for high earners (salaried) which is 45%.

I am really & I mean really not cool with paying 45% CGT. If they raise it that much I will be looking to emigrate.

First I have heard of that.  

The UK economy is going to be so fucked from Brexit and Covid that I think this is a 1 in a hundred chance.

Much more likely Boris will be hung up from his Johnson from the Parliament gates

[Free Market Capitalist]

I have the same concerns, Bob.

UK CGT is currently 20%.
There are rumours next April the UK Gov will increase it to be aligned with the normal tax rate for high earners (salaried) which is 45%.

I am really & I mean really not cool with paying 45% CGT. If they raise it that much I will be looking to emigrate.

45% is fucking insane. I don't know what politicians are thinking about when they plan to raises taxes like that. It is a sure way to destroy the economy.

[Cryptotourist]

Here's what I think about your assessment of my algo.

Don't get me wrong JayJuan.
Humans are allowed to be arrogant. AI's are not.

The last significant and somewhat lasting BTC price dip that we had was around 9/3 when there was a final attempt to get below $10k... and of course, no one really realized that such attempt at sub-$10k was going to end up playing out as a "final" one at that time.  

Em, hem, excuse me, but I do seem to recall that a certain someone was convinced that it was the final $10k battle.
Never mind, who cares, lets have a drink:

[HairyMaclairy]

Let’s pretend Biden doubles CGT.  Which isn’t going to happen

You will still be better off selling next year.  

Also, Biden isn’t going to do shit on taxes.  He’s got bigger fights on his hands like fixing Covid.  

exactly...it has to be 85% cap gains on 100K..20% cap gains on 16K (if your cost is close to zero) is 3.8K, 12.2k profit.
If btc is 100K, tax has to be 88% to get the same profit. Zero chance for such tax and any tax higher than maybe 30% or so.
30% is possible...I paid 39.7% cap gains in 2000. That was a howler (forgot about short term vs long term when trading  )

Not to put too fine a point on it but it’s not cap gains short term, it’s income.

[LFC_Bitcoin]

I have the same concerns, Bob.

UK CGT is currently 20%.
There are rumours next April the UK Gov will increase it to be aligned with the normal tax rate for high earners (salaried) which is 45%.

I am really & I mean really not cool with paying 45% CGT. If they raise it that much I will be looking to emigrate.

First I have heard of that.  

The UK economy is going to be so fucked from Brexit and Covid that I think this is a 1 in a hundred chance.

Much more likely Boris will be hung up from his Johnson from the Parliament gates

UK CGT - http://www.bbc.co.uk/news/amp/business-54908037

[Biodom]

Let’s pretend Biden doubles CGT.  Which isn’t going to happen

You will still be better off selling next year.  

Also, Biden isn’t going to do shit on taxes.  He’s got bigger fights on his hands like fixing Covid.  

exactly...it has to be 85% cap gains on 100K..20% cap gains on 16K (if your cost is close to zero) is 3.8K, 12.2k profit.
If btc is 100K, tax has to be 88% to get the same profit. Zero chance for such tax and any tax higher than maybe 30% or so.
30% is possible...I paid 39.7% cap gains in 2000. That was a howler (forgot about short term vs long term when trading  )

Not to put too fine a point on it but it’s not cap gains short term, it’s income.

in US it is called short term cap gains, which, indeed, are taxed at the regular income rates.

[JayJuanGee]

New wordy man is far more interesting than old wordy man.

Also observing $16k incoming.

There is something to be said about consistency.

Which one is more (less) consistent?  Asking for a friend.

Lets not try to answer questions about the fabric of time and space in haste.

This is a Conundrum that should be analyzed annually as new data is observed and correlated.

Well, that was a talented lil deflection and avoidance dance.    

The last significant and somewhat lasting BTC price dip that we had was around 9/3 when there was a final attempt to get below $10k... and of course, no one really realized that such attempt at sub-$10k was going to end up playing out as a "final" one at that time.  

Em, hem, excuse me, but I do seem to recall that a certain someone was convinced that it was the final $10k battle.
Never mind, who cares, lets have a drink:

None of those examples count as timely and/or sufficiently assertive predictions that 4 digits were gone forever (or final).  Try ur lil selfie a wwwweeeee bit MOAR harder, next time.  

 

[HairyMaclairy]

Let’s pretend Biden doubles CGT.  Which isn’t going to happen

You will still be better off selling next year.  

Also, Biden isn’t going to do shit on taxes.  He’s got bigger fights on his hands like fixing Covid.  

exactly...it has to be 85% cap gains on 100K..20% cap gains on 16K (if your cost is close to zero) is 3.8K, 12.2k profit.
If btc is 100K, tax has to be 88% to get the same profit. Zero chance for such tax and any tax higher than maybe 30% or so.
30% is possible...I paid 39.7% cap gains in 2000. That was a howler (forgot about short term vs long term when trading  )

Not to put too fine a point on it but it’s not cap gains short term, it’s income.

in US it is called short term cap gains, which, indeed, are taxed at the regular income rates.

Eh ok you are right. 

Withdrawn. 

[HairyMaclairy]

I have the same concerns, Bob.

UK CGT is currently 20%.
There are rumours next April the UK Gov will increase it to be aligned with the normal tax rate for high earners (salaried) which is 45%.

I am really & I mean really not cool with paying 45% CGT. If they raise it that much I will be looking to emigrate.

First I have heard of that.  

The UK economy is going to be so fucked from Brexit and Covid that I think this is a 1 in a hundred chance.

Much more likely Boris will be hung up from his Johnson from the Parliament gates

UK CGT - http://www.bbc.co.uk/news/amp/business-54908037

Huh.  I don’t believe it for a second though.  Not this government. 

[LFC_Bitcoin]

@HM, I hope not. I am not paying potentially millions of £ in tax. They can kiss my ass.