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

[vapourminer]

That is some serious red mayhem going on.
Relax and take a break, remember why you are bitcoiners and why you are here.
Don't panic.
You know the game.

did i miss something? am i supposed to start the scream like a little girl thing?

looks like its just doing its bitcoin thing tbh

[Hhampuz]

Imagine taking out capital gains over $1m anyways.. What is this, why not just convert to corn ASAP?

Well, like, I mean... building a sprawling ranch in East Texas costs more than a couple bucks ya know...

You hiring people who don't accept corn? Tell them to join the rest of us in the 21st century 

[somac.]

Forget it, after that announcement 43K.

LoL, like 43 is a sure thing .... Damn man have hear those bear predictions so many times for the last 6-7 years ... Its all BS imo and all nothing burgers just like most if not all TA and stuff

A drop, possible, rise possible as well its just a coinflip for the traders and a whatever for the long term hodlers...

Gonna hit the HODLnest and keep on the HODL.

Just looking at support levels.
I'm not selling but people are stupid and we know what happens with FUD news and a panic.
Hope we don't dip below 50K at all but if it does who knows where it goes.

When there are TA's suggesting up, then i'm all ears... if not then whatever support, rsi, wma, fib, clouds, triangles, whatever of those things... Its all just noise and indicators to lose money or to make people scared etc nothing more...

People user account increase,  halvings--> decreasing supply, scarcity, FIAT out of thin air,inflation .... just give me this above whatever TA BS anyday...

That 43k roughly matches a 30% correction from ATH, which is traditionally the kind of pullback we get in a pull market. I think 45k is a safer bet which is more of an exact 30% correction. Do I want it to go down there? No. Will I buy more corn if it does? Yep.

[Biodom]

I take it the Biden lovers here still love him after threatening to double capital gains tax, right, because it's gonna go to a "good cause"?

https://www.msn.com/en-us/money/markets/biden-to-propose-capital-gains-tax-of-396-to-fund-education-and-child-care-reports-say/ar-BB1fWevE


Probably why your corn is worth a bit less at the moment.

I don't understand this.  Rather than pay a (yet to be proposed) higher capital gains tax, Americans would pull their money out of the markets right now and put it into what?  Is the plan to make no capital gains in the future?!

 

Exactly. Why sell and pay more than 50% tax in some states (43.4% in TX) on above 400k (or is it a mil)?
The position that you don't have to sell is further solidified by this.
I wouldn't like to pay 50% on what came from holdling through blood, sweat and tears and I legally wouldn't have to if I DON'T SELL.

For some, like Bawb, it is too late as they will make it retroactive to Jan 1, 2021, no doubt (if it passes).
A big boost to all btc lending services. However, if your btc collateral is liquidated, then you would have to pay cap gains taxes:
https://www.forbes.com/sites/shehanchandrasekera/2021/03/17/how-are-crypto-loans-taxed

Of course, there could be even more wicked schemes about yearly taxation of unrealized gains, but i would deal with that when it materializes.

[BitcoinGirl.Club]

That is some serious red mayhem going on.
Relax and take a break, remember why you are bitcoiners and why you are here.
Don't panic.
You know the game.

Been playing the game since 2013/2014.
Too experienced to be panicked.
$100k is where the eyes are now.

[Richy_T]

I never really got this though: if the tax is fixed, why would you want to postpone paying the tax, if you have to pay it eventually anyway? Unless you're hoping for the tax to go down.

There are often allowances and sometimes longer time invested means lower tax.

[Biodom]

I don't understand this.  Rather than pay a (yet to be proposed) higher capital gains tax, Americans would pull their money out of the markets right now and put it into what?  Is the plan to make no capital gains in the future?!

We don't have a capital gains tax, but as far as I understand you'd pay the current tax if you withdraw now.
So, if you gained $100 and tax is 20%, you owe $20 in taxes now if you realize the gains. Then you start from scratch with no gains, and taxes go up to 40% only on your future gains (not on your past gains).

I never really got this though: if the tax is fixed, why would you want to postpone paying the tax, if you have to pay it eventually anyway? Unless you're hoping for the tax to go down.

of course, no, it would be made retroactive to Jan 1, 2021, otherwise there will be gigantic tax-related selling over the rest of 2021.
why postpone paying the tax? because if you sell, whatcha going to do with 60% that is left. Invest again? lol
Besides, you can spread it out over the years.

[Torque]

All this talk about cap gains increasing. Ya'll need to chill.

1. The proposal is a cap gain increase for those making over $1M/year in income. Average Joes unaffected.

...and it doesn't even matter, because...

2. It'll never, ever, ever, ever, ever, ever pass. Won't even make it to the floor. It's all just talk. Why? Because the politicians are beholden to the very elite that this would affect, that's why.

[lightfoot]

Which means there is a fire sale for bitcoin going on RIGHT NOW!!!!!!!!!!!!!!!!!!

[OutOfMemory]

Who expected the price not to go down after i bought?
I'm just a little annoyed that i didn't buy later.

In my mind, the following scene goes on and on:

Joe: "Fuck! Saylor, Musk, even my dickhead son bought a ton of bitcoin at prices lower than $20k. Now i have to fucking fomo-buy in at almost $60k, or what?!"
Janet: *raises hand*

[Biodom]

Who expected the price not to go down after i bought?
I'm just a little annoyed that i didn't buy later.

In my mind, the following scene goes on and on:

Joe: "Fuck! Saylor, Musk, even my dickhead son bought a ton of bitcoin at prices lower than $20k. Now i have to fucking fomo-buy in at almost $60k, or what?!"
Janet: *raises hand*

Joe B. and Yellin' Janet? lol

[OutOfMemory]

Who expected the price not to go down after i bought?
I'm just a little annoyed that i didn't buy later.

In my mind, the following scene goes on and on:

Joe: "Fuck! Saylor, Musk, even my dickhead son bought a ton of bitcoin at prices lower than $20k. Now i have to fucking fomo-buy in at almost $60k, or what?!"
Janet: *raises hand*

Joe B. and Yellin' Janet? lol

Yep  

EDIT: A quick green vape and off to bed. Bitcoin, surprise me in the morning, will ya? 

[BobLawblaw]

it is too late as they will make it retroactive to Jan 1, 2021

That's not how this works.

That's not how any of this works.

Stop spreading FUD.

[Hueristic]

Widely used forensic software can be exploited to infect investigators' computers.

https://arstechnica.com/information-technology/2021/04/in-epic-hack-signal-developer-turns-the-tables-on-forensics-firm-cellebrite/

For example, by including a specially formatted but otherwise innocuous file in an app on a device that is then scanned by Cellebrite, it’s possible to execute code that modifies not just the Cellebrite report being created in that scan, but also all previous and future generated Cellebrite reports from all previously scanned devices and all future scanned devices in any arbitrary way (inserting or removing text, email, photos, contacts, files, or any other data), with no detectable timestamp changes or checksum failures. This could even be done at random, and would seriously call the data integrity of Cellebrite’s reports into question.

[seljo]

Widely used forensic software can be exploited to infect investigators' computers.

https://arstechnica.com/information-technology/2021/04/in-epic-hack-signal-developer-turns-the-tables-on-forensics-firm-cellebrite/

For example, by including a specially formatted but otherwise innocuous file in an app on a device that is then scanned by Cellebrite, it’s possible to execute code that modifies not just the Cellebrite report being created in that scan, but also all previous and future generated Cellebrite reports from all previously scanned devices and all future scanned devices in any arbitrary way (inserting or removing text, email, photos, contacts, files, or any other data), with no detectable timestamp changes or checksum failures. This could even be done at random, and would seriously call the data integrity of Cellebrite’s reports into question.

also aesthetics are important

In completely unrelated news, upcoming versions of Signal will be periodically fetching files to place in app storage. These files are never used for anything inside Signal and never interact with Signal software or data, but they look nice, and aesthetics are important in software. Files will only be returned for accounts that have been active installs for some time already, and only probabilistically in low percentages based on phone number sharding. We have a few different versions of files that we think are aesthetically pleasing, and will iterate through those slowly over time. There is no other significance to these files.

[shahzadafzal]

Where are those who were poking her at $64k?

[Biodom]

it is too late as they will make it retroactive to Jan 1, 2021

That's not how this works.

That's not how any of this works.

Stop spreading FUD.

Learn your history, pal.
https://www.baltimoresun.com/news/bs-xpm-1993-08-11-1993223042-story.html
https://www.latimes.com/archives/la-xpm-1994-06-14-mn-3963-story.html

[janggernaut]

Reason of current dump
https://cointelegraph.com/news/here-s-why-bulls-aren-t-this-buying-the-bitcoin-price-dip-to-50-000

Data shows pro traders are not buying the current Bitcoin dip as tomorrow’s $1.55 billion options expiry looms.

Does anyone know where i can find full list of this options will expire? Previous huge dump also happened because of this.

[BitcoinBunny]

Don't tell me we are going to lose 50....  

Edit: It dipped below for just a minute it seemed.
$50,600 level seems pretty strong with these bounces mostly.

Many alts doing far worse of course.

[shahzadafzal]

Who’s pulling the rug?