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

[log2exp]

There is only one place a government that wants to tax people's gains at 40% belongs and that is in a locked up dungeon.

It's only fair that IRS will issue capital loss tax credits with no $3,000 cap.

[ChartBuddy]

Explanation

[Paashaas]

There is only one place a government that wants to tax people's gains at 40% belongs and that is in a locked up dungeon.

Add a possible 30% tax on electricity used for cryptomining..

Biden plans to increase taxes to collect a whopping $5.5 trillion over the next decade.

[BitcoinBunny]

There is only one place a government that wants to tax people's gains at 40% belongs and that is in a locked up dungeon.

Add a possible 30% tax on electricity used for cryptomining..

Biden plans to increase taxes to collect a whopping $5.5 trillion over the next decade.

I'm sure he will get 400 million votes next time regardless.

[Paashaas]

Grayscale’s SEC hearing gives new hope for GBTC investors.

Yesterday, the debacle over a spot bitcoin exchange-traded fund (ETF) reached U.S. courts, as the SEC was questioned by judges over the rejection of Grayscale’s application to convert its closed-end bitcoin trust, GBTC, into an open-ended ETF. During the hearing, the SEC cited concerns regarding manipulation in spot bitcoin markets, while Grayscale refuted the SEC’s reasoning, given the SEC’s prior approval of a futures bitcoin ETF in the fall of 2021.

This led to court judges questioning the SEC’s understanding of the relationship between the spot market and the futures market, with a court judge saying, “We haven’t seen any evidence that Grayscale's argument is flawed.”

In our view, the key point in the hearing was when the judges asked the SEC to explain why the Grayscale offer was rejected and followed up with a question as to whether manipulation of a futures-based ETF was possible. The SEC’s answer was that Grayscale did not provide enough data, which led to a response from judges suggesting that the data provided by futures-based bitcoin ETFs should be equally sufficient for spot ETF applicants.

The contents of the hearing were enough for the Senior Litigation Analysts at Bloomberg to change their probability of a successful Grayscale suit from 40% to 70% — an extremely noteworthy swing.   

[Gachapin]

I somewhat expect "them" to push it to 18k's or lower to scare John Dow away from the only secure and portable inflation hedge in the coming years...

wouldn't shock me, if the Luna and/or FTX circus was a setup to crash the market...  

iyam, FTX-boy and Alameda-girl could just have been two typical intel pawns

[Gachapin]

There is only one place a government that wants to tax people's gains at 40% belongs and that is in a locked up dungeon.

Add a possible 30% tax on electricity used for cryptomining..

Biden plans to increase taxes to collect a whopping $5.5 trillion over the next decade.

I'm sure he will get 400 million votes next time regardless.

that's for sure.  I mean he is the most popular president by votes in US history...  Americans must love him!  Let's Go Brandon !!

[mv1986]

Hi guys,

I found an interesting website presenting an overview of Bitcoin's price development vs. gold and decided to also write up a quick recap about a couple of interesting facts and what an investment of $1 would have turned into if you invested at the earliest possible point in time. That's to be found in the Economics section. Feel free to have a look. Here is the overview of Bitcoin vs. gold that I found, and I must say even though everyone of us has an idea how things played out thus far, it never becomes boring to recall Bitcoin's journey:



If you want some more precise numbers, feel free to check out my extensive post in the Economics section.

For over a decade we have been going up and after a bad 2022, we might be heading for the right direction again.

[philipma1957]

Plan is still working got some 20.5k corn today and some 21.5k corn yesterday.

Looking to see <20 soon

buddy likes the lack of competition and is running wild on the low side.

be ready for some 19.6k dip.


Even with terrible price of 20.3k  and only 6.06 cents a th for a btc miner

the difficulty is still moving up.

this is a big squeeze on miners.

Mt Gox releasing 130k coins

and feds due to raise rates means huge downward pressure on corn.

Get some dip and hodl

[Gachapin]

Imagine selling your bitcoin because fractional reserve banks are failing.
https://twitter.com/lopp/status/1633911814944595968

[philipma1957]

Imagine selling your bitcoin because fractional reserve banks are failing.
https://twitter.com/lopp/status/1633911814944595968

Yeah get your bargain dip and hodl.

[El duderino_]

So we are back a few hours away from moon

Nothing to see here

[ChartBuddy]

Explanation

[Gachapin]

So we are back a few hours years away from moon

Nothing to see here

ftfy

[Gachapin]

Gox asked me to select repayment methods until tomorrow...

I guess we gonna have another year of shitty prices

[machasm]

WTF?
The one sure thing that can save us all from these stupid rate hikes and inflation is going down in price?
Wake up people!
HODLERS unaffected.
I am running out of years.
I guess I will take it with me to the grave.

[Gachapin]

WTF?
The one sure thing that can save us all from these stupid rate hikes and inflation is going down in price?
Wake up people!
HODLERS unaffected.
I am running out of years.
I guess I will take it with me to the grave.

tptb might wanna close any possible way that can lead people out of their fiat debt circus... especially with cbdc's lurking around the corner


With BTC you don't own a get rich technology but monetary freedom.  Getting rich is not the main product it's only a freebie that surely depends on how quickly other people grasp BTC

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[shogun47]

Ok now the fights in the US administration and among regulatory bodies is now on full steam. SEC chairman Gensler got pushed back by a New York judge regarding the SEC's stance on all digital currencies being securities and he is also in a fight with Behnam, the head of the CFTC, about ETH not being a security.

Now the Silvergate liquidation is becoming a reality and something else was hidden in the budget of the Biden administration's proposal: "a phased-in 30 percent tax on the electricity used in cryptocurrency mining". The administration argues that it "is hindering the transition to a low-emission energy future."

But the interesting part about all of this is that Biden is taking risks as well with his "all-out assault" on cryptocurrency. 50 million US citizens and voters own cryptocurrency. It is impressive to read that cryptocurrency may no longer be a topic that can be neglected in terms of presidential elections. Who would have thought that in 2010?

Sad to see though that obviously all of this trouble does impact Bitcoin's price at least in the short term: