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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[El duderino_]

Let me clear up some misinformation being spouted. First of all, kraken got user funds they will be distributing next week or the following week to individuals. Secondly, settlements aren’t taxed as capital gains. Selling to pay taxes on these coins is a thing that will happen. Many people will likely owe hundreds of thousands of dollars in taxes based on their distribution regardless of what they do with the coins. The idea there won’t be selling is a fairytale.

Getting those coins back not necessarily means instant sell bc of taxes or am I wrong?

[OgNasty]

Let me clear up some misinformation being spouted. First of all, kraken got user funds they will be distributing next week or the following week to individuals. Secondly, settlements aren’t taxed as capital gains. Selling to pay taxes on these coins is a thing that will happen. Many people will likely owe hundreds of thousands of dollars in taxes based on their distribution regardless of what they do with the coins. The idea there won’t be selling is a fairytale.

Getting those coins back not necessarily means instant sell bc of taxes or am I wrong?

Not any sort of forced sale.  I’m sure there will be cases of individuals just paying the taxes out of their pocket and holding the coins. For me, I’ll be selling at least 1/3 because I learned from my stint as treasurer here that you don’t play around with owed taxes and Bitcoin. I lost years worth of BTC income by not immediately cashing out what I needed to pay taxes when I was finally paid my treasurer income. In this instance, I’ll be safe instead of sorry. I won’t be alone.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OutOfMemory]

I am not too excited about some of the seeming pushes for all electric - even though there might be some practical uses for such, and it seems that battery technology is not at such a state that commercial airlines would be able to fly if there were to be some kind of an all electric design for such, so there are some problematic aspects around some all electric applications, though it may have some reeasonable applications.. but yeah there are likely also problems with all electric in real hot or real cold climates (seasons), too...

The problem with electrical flight is energy density, for some reason you can't trick physics.

That's why i learned less about aerodynamics than about surgery and first aid back then, when i tried to learn how to fly (as a kid) 

As of Gox, i don't even try to guess what will happen, but King Daddy won't care for sure.
Poor traders 

#HODL

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

Let me clear up some misinformation being spouted. First of all, kraken got user funds they will be distributing next week or the following week to individuals. Secondly, settlements aren’t taxed as capital gains. Selling to pay taxes on these coins is a thing that will happen. Many people will likely owe hundreds of thousands of dollars in taxes based on their distribution regardless of what they do with the coins. The idea there won’t be selling is a fairytale.

You just can' help yourself, can you?

Are you shorting still?

He is not shorting, but 'correcting misinformation', lol  
Chanos also always "corrects misallocations".
To each their own, clearly.
The proof will be in the pudding and soon.

[philipma1957]

Let me clear up some misinformation being spouted. First of all, kraken got user funds they will be distributing next week or the following week to individuals. Secondly, settlements aren’t taxed as capital gains. Selling to pay taxes on these coins is a thing that will happen. Many people will likely owe hundreds of thousands of dollars in taxes based on their distribution regardless of what they do with the coins. The idea there won’t be selling is a fairytale.

Getting those coins back not necessarily means instant sell bc of taxes or am I wrong?

In the USA this quarter the payment date is Sept 16 2024.

So If you are a USA guy selling and paying makes sense . Now I used cap gains OGnasty thinks it reg income.

I do not know of any IRS ruling on how to classify this profit.

If it is income tax it is a lot higher rate then cap gain rate.

So a 10 coin guy could be looking at 200k tax if it is income tax and not cap gain far worse than the numbers I gave at 20%