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Question: What happens first:
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26387361 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
Biodom
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May 02, 2023, 10:25:20 PM

My mistake was in that i was thinking that Mr market would try to push banks up after FRC supposed "rescue", but it lasted for a whole 2 hours, then reversed.
My plan was to buy puts into a rally, but I am not buying those into a sharp decline and increase in premium and volatility.
Hence, still flat in the money market with about 5% returns (plus some long term time horizon stocks).

Nothing to report re btc (no change in position whatsoever).
BTW, I read (with a big surprise) that there are only about 1 mil wallet addresses with at least one btc.
I thought that there were at least 2-5 times more.
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May 02, 2023, 10:31:48 PM

Taking equity out of ones home, another thing you can't do here (and people wouldn't understand). Of course we saw in 2009 that it led to plenty of people losing their home...

You can't easily do it in Texas too because locals were burned on this before anyone else in US (in 1987) when people were mass-mailing the keys to their houses to lenders, apparently.
Typically, no cash-out refinancing. I know some people in CA that did multiple cash outs and now have a gigantic mortgage.
Still, there is some equity, but the cushion is much smaller that it should have been otherwise.
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May 02, 2023, 11:01:17 PM


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May 03, 2023, 12:01:20 AM


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May 03, 2023, 01:01:16 AM


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philipma1957
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May 03, 2023, 01:53:01 AM

Taking equity out of ones home, another thing you can't do here (and people wouldn't understand). Of course we saw in 2009 that it led to plenty of people losing their home...

You can't easily do it in Texas too because locals were burned on this before anyone else in US (in 1987) when people were mass-mailing the keys to their houses to lenders, apparently.
Typically, no cash-out refinancing. I know some people in CA that did multiple cash outs and now have a gigantic mortgage.
Still, there is some equity, but the cushion is much smaller that it should have been otherwise.

if you have a 700,000  home with 100% equity. You do not take out a loan on it.

Unless rates drop to 2-3%

My example is 2,000,000 wealth

700,000 home
400,000 bond driven 401 k gets 5%
100,000 gold, silver

that is 1,200,000 wealth
and you have 800,000 more wealth do do as you please.

that adds to 2,000,000 wealth

the 401k earns 20k a year

you have 7,000 take home in pensions. since I said you have pensions you have to use some of the 401k eventually maybe now so 20,000 is the juice it gets. pull 4,000 and that is 2,000 a month but it is taxable so pull 30,000  this means the 402k will last close to a lifetime and you actuall income after taxes is 9,000 a month

This person has the ability to fuck around with 800,000 anyway they want to. Stock ,bonds, btc shit coins what ever.  But they are rare and they are dying every day as I type this out.

They can do an equity loan if rates drop to 2 or 3%. I said the chances are likely less than 1 in 25 Americans are in this spot.

 They can have a mixed blend of what ever the they invest.  They are rare.


Most Americans are paycheck to paycheck and will work way past retirement ages. 70 or later is common.

For these people savings in a bank are meh at best. They need to do 3 or more different  plays even if the plays are $25 a month for each month.

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May 03, 2023, 02:01:17 AM


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May 03, 2023, 02:16:12 AM
Merited by JayJuanGee (1)

Stupid bastards.

 https://cryptopotato.com/biden-administration-pushes-congress-to-pass-30-tax-on-bitcoin-mining/

 "Biden Administration Pushes Congress to Pass 30% Tax on Bitcoin Mining

 Author: Andrew Throuvalas

The White House views the Bitcoin mining industry as environmentally harmful and limited in economic benefit.

The White House is attempting to persuade Congress to pass a 30% climate change tax on cryptocurrency miners as part of its next federal budget.

The change, titled the Digital Asset Mining Energy (DAME) excise tax, is designed to encourage mining firms to start taking better account of their so-called ‘societal harms’, including higher energy prices and greenhouse gas emissions...

...The tax would be phased in over 3 years, starting at 10% in the first year before rising to 20% and eventually 30% in the following two years. Over 10 years, it would generate an estimated $3.5 billion in revenue...
"

 They (the gov't) wont make a @#$ cent.  The margins are not good enough to support such a luxury tax so miners will go elsewhere.


 
philipma1957
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May 03, 2023, 02:21:47 AM

Stupid bastards.

 https://cryptopotato.com/biden-administration-pushes-congress-to-pass-30-tax-on-bitcoin-mining/

 "Biden Administration Pushes Congress to Pass 30% Tax on Bitcoin Mining

 Author: Andrew Throuvalas

The White House views the Bitcoin mining industry as environmentally harmful and limited in economic benefit.

The White House is attempting to persuade Congress to pass a 30% climate change tax on cryptocurrency miners as part of its next federal budget.

The change, titled the Digital Asset Mining Energy (DAME) excise tax, is designed to encourage mining firms to start taking better account of their so-called ‘societal harms’, including higher energy prices and greenhouse gas emissions...

...The tax would be phased in over 3 years, starting at 10% in the first year before rising to 20% and eventually 30% in the following two years. Over 10 years, it would generate an estimated $3.5 billion in revenue...
"

 They (the gov't) wont make a @#$ cent.  The margins are not good enough to support such a luxury tax so miners will go elsewhere.


 

What about the miners that use mining to create solar arrays.

Will my solar created be taxed?
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May 03, 2023, 02:43:43 AM
Merited by vapourminer (1), JayJuanGee (1), bitebits (1), Gachapin (1)

Stupid bastards.

 https://cryptopotato.com/biden-administration-pushes-congress-to-pass-30-tax-on-bitcoin-mining/

 "Biden Administration Pushes Congress to Pass 30% Tax on Bitcoin Mining

 Author: Andrew Throuvalas

The White House views the Bitcoin mining industry as environmentally harmful and limited in economic benefit.

The White House is attempting to persuade Congress to pass a 30% climate change tax on cryptocurrency miners as part of its next federal budget.

The change, titled the Digital Asset Mining Energy (DAME) excise tax, is designed to encourage mining firms to start taking better account of their so-called ‘societal harms’, including higher energy prices and greenhouse gas emissions...

...The tax would be phased in over 3 years, starting at 10% in the first year before rising to 20% and eventually 30% in the following two years. Over 10 years, it would generate an estimated $3.5 billion in revenue...
"

 They (the gov't) wont make a @#$ cent.  The margins are not good enough to support such a luxury tax so miners will go elsewhere.


 

What about the miners that use mining to create solar arrays.

Will my solar created be taxed?

 Their arguments are quite flimsy and could pertain to pretty much any human endeavour but I think they also have you in their sights:

"The environmental impacts of cryptomining exist even when miners use existing clean power. For example, in the case of communities with hydropower where cryptomining operations are often located, increased electricity consumption by cryptominers reduces the amount of clean power available for other uses, raising prices and increasing overall reliance on dirtier sources of electricity." 1

1from: https://www.whitehouse.gov/cea/written-materials/2023/05/02/cost-of-cryptomining-dame-tax/

 Apparently, by you putting up your own solar array and using it for your own purposes, you are still harming "low-income neighborhoods and communities of color" since it could have been used in a way that would offset the pollution caused by other forms of electrical generation, that would still be required to meet the demand of those poor bastards in New York who will be banned from using gas for their cook-stoves, such as natural gas turbines.  Oh the irony.

 Sorry for the bad news philipma1957  Sad

 
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May 03, 2023, 02:54:41 AM


might be some preparing for a gold backed currency

different to gold with Bitcoin they could actually prove their reserves to anyone at anytime...  Tongue


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May 03, 2023, 03:01:19 AM


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May 03, 2023, 04:01:16 AM


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May 03, 2023, 05:01:16 AM


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May 03, 2023, 05:41:05 AM
Merited by JayJuanGee (1)

Exactly....

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May 03, 2023, 06:01:20 AM


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May 03, 2023, 06:40:56 AM

HODL!

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May 03, 2023, 07:01:17 AM


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May 03, 2023, 07:10:16 AM

Perfect! Lol

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May 03, 2023, 07:39:55 AM

My DCA buy, originally scheduled for monday, got delayed for tuesday, when it slipped into the little $28k dip. Nice.
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