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

[ChartBuddy]

Explanation
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[BTCETFInvestor]

Imho, the cryptotax companies are doing the good old "fake it until you make it".
How do they know what each non-exchange tx represents?
Is it a sale, or a transfer to a second person (who could be your wife?) or to a third party?
How, exactly, they could calculate your cost basis reliably in this scenario?
They can't, at least not reliably, imho.

The simple method of you buying coin on exchange, moving it to a hard wallet and then transferring it back they could handle, probably, but I doubt even this: say I transfer from hard wallet to a hot wallet (on the phone, for example). Do they now assign to coins in a hot wallet a new cost basis (based on a price of btc on the day of transfer)? If not, what would be their "cost basis" based on when you transfer such coins to an exchange for a sale?

But, once you got the official document, sure, you can use it, even if it cost you a pretty penny (almost a newer cyber-truck worth-for a base model   )

They might fake it til they make it, but they also handle any audit issues should one arise. You give them all your address and exchange info, so they can distinguish between transfers in your own wallets. I’m sure they err on the side of caution, but I don’t have any need to waste my time trying to lick the plate after enjoying a steak.

Yeah as they kept fucking with the laws i realized to run the mine legally and split the coins legally it would be too hard too comply.

I now 100% mine alone at a host.

Phil - I guess you have received a 1099-DA and maybe 1099-MISC from Coinbase, right?

Doesn't Coinbase make available necessary cost worksheets for their account clients?

I don't see how the IRS can expect taxpayers to have accurate documentation for establishing cost basis longer than 3 years ago since the IRS has a three-year statue of limitations for establishing cost basis.

[Hueristic]

Finally got to Good Luck Have Fun Dont Die , was a good flick.

[Biodom]

My 2c about Michael Saylor.

Looking at his brazen buys lately, I could not escape thinking about a possibility that some truly big money is backing him now. Why?
1. Despite crypto winter MSTR is currently trading at a premium to it's holding and STRC is trading at par or even slightly higher with an increased volume in the last few days.
2. MS was able to raise quite a bit of money selling his stock as well.

It's all quite interesting and here is an article discussing ins- and outs- of the current situation:
https://www.investors.com/news/mstr-stock-strategy-18k-bitcoin-both-guns-blazing-11-billion-mystery/?src=A00220
(beware: sorry, first time I didn't get the paywall, but got it on the followup attempt-maybe it is in an archive somewhere)

[Biodom]

Finally got to Good Luck Have Fun Dont Die , was a good flick.

Cool...I am going tomorrow to see the Project Hail Mary...the book was great, the only concern is if they will ask Gosling to do too much of his humor takes...a few i can handle  .
EDIT: on a Spring break, sorry for too many posts...logging off now.

[Hueristic]

Finally got to Good Luck Have Fun Dont Die , was a good flick.

Cool...I am going tomorrow to see the Project Hail Mary...the book was great, the only concern is if they will ask Gosling to do too much of his humor takes...a few i can handle  .
EDIT: on a Spring break, sorry for too many posts...logging off now.

was good. :thumbsup:

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

My 2c about Michael Saylor.
Looking at his brazen buys lately, I could not escape thinking about a possibility that some truly big money is backing him now. Why?
1. Despite crypto winter MSTR is currently trading at a premium to it's holding and STRC is trading at par or even slightly higher with an increased volume in the last few days.
2. MS was able to raise quite a bit of money selling his stock as well.

It's all quite interesting and here is an article discussing ins- and outs- of the current situation:
https://www.investors.com/news/mstr-stock-strategy-18k-bitcoin-both-guns-blazing-11-billion-mystery/?src=A00220
(beware: sorry, first time I didn't get the paywall, but got it on the followup attempt-maybe it is in an archive somewhere)

If MSTR/Saylor has a product that is currently paying out 11.5% interest to anyone who buys into it (including some tax deferred angle too, as long as it is not sold), then aren't people going to throw money at him when there is likely no other financial product out there that pays out anywhere close to that high amount?  Is there fear that Saylor/MSTR is going to rug pull anyone when he has 735 BTC that are mostly unencumbered (perhaps 15% or so of his BTC is encumbered - the rest is owned, straight and clear).

[philipma1957]

Finally got to Good Luck Have Fun Dont Die , was a good flick.

Yeah that and Hail Mary are on the list.


I watched "the bluff" on amazon it was meh

[ChartBuddy]

Explanation
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[ChartBuddy]

Explanation
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[ChartBuddy]

Explanation
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[AlcoHoDL]

Finally got to Good Luck Have Fun Dont Die , was a good flick.

Yeah that and Hail Mary are on the list.

I watched "the bluff" on amazon it was meh

Thanks for the suggestions guys, I haven't been able to watch a movie for a long time now. Mind occupied with RL stuff. Don't even know what's out there that's worth watching...

Project Hail Mary looks very promising -- the kind of movie I usually enjoy. No streamers yet on Stremio though. Too new.

Good Luck, Have Fun, Don't Die is a comedy, which is not a genre I usually go for, but if the resident WOers say so, it must be worth it. IMDb rating says so too. Will be checking it out.

Have been planning on watching Sisu: Road to Revenge. This should be a good watch, if it's anything close to the first one.

[El duderino_]

Belgium ground is a bitch after 40 days of Palau-phillipines and BKK

lol,,

40 days of Palau-philippines & bangkok paradise and suddenly belgian drizzle & grey pavement feel like punishment? :p

Welcome back man, didn't you miss our coffee and fries?

So there are some more Belgians on the WO... drizzle and grey are the worst... coffee same same everywhere, fries nowhere to be matched like home.

[(BTC)]

Thanks for the suggestions guys, I haven't been able to watch a movie for a long time now. Mind occupied with RL stuff. Don't even know what's out there that's worth watching...

Project Hail Mary looks very promising -- the kind of movie I usually enjoy. No streamers yet on Stremio though. Too new.

Good Luck, Have Fun, Don't Die is a comedy, which is not a genre I usually go for, but if the resident WOers say so, it must be worth it. IMDb rating says so too. Will be checking it out.

Have been planning on watching Sisu: Road to Revenge. This should be a good watch, if it's anything close to the first one.

Have you watched Bugonia? It's kinda long with a 1hr59m runtime. Very fun film, though.

Also bottom isn't in yet imo since this is wo I gotta throw in some light speculation for my first post here.

[JayJuanGee]

Also bottom isn't in yet imo since this is wo I gotta throw in some light speculation for my first post here.

You sound lost if you are proclaiming down in these here parts (as a newbie) without giving a rationale besides perhaps the underlying presumption that since you are a newbie that you still need to buy more coin, to the extent that you already have some corn and you are not merely an observer without and stake in the game.  

Hopefully, for your own good, you are ongoingly stacking instead of waiting for down that might not end up happening.

[(BTC)]

Also bottom isn't in yet imo since this is wo I gotta throw in some light speculation for my first post here.

You sound lost if you are proclaiming down in these here parts (as a newbie) without giving a rationale besides perhaps the underlying presumption that since you are a newbie that you still need to buy more coin, to the extent that you already have some corn and you are not merely an observer without and stake in the game.  

Hopefully, for your own good, you are ongoingly stacking instead of waiting for down that might not end up happening.

Yes, I have been stacking weekly since the downtrend from 120k. I'm happy with the stack I have, but it could be much better so this dip is awesome.

I guess you could say that my rationale for the bottom not being in is just a firm belief in cycles. If I'm not mistaken, cycle logic dictates we don't see a bottom until around October. Even though I'm a believer in cycles, I still refuse to swing trade/sell everything at tops and buy it all back at bottoms. That's way too much stress for me and putting faith in something stupid not happening like these "supercycles" people started talking about...no thank you, haha. Bitcoin is way undervalued and super early. I would hate myself forever if I made a bad swing trade and lost ~90% of my "corn" as you would say, no matter how set in stone people say 4 year cycles are.

I'm much more content selling only the littlest portion of my full stack at tops to increase my quality of life ever so slightly as I see fit. I sold some to make having my firstborn child a little easier on me and my wife.

I'm no speculation expert though, I just read the room on websites like this one and r/btc(grain of salt).

The room is telling me that the stock market is heavily overvalued and circular funding is occuring and oil just saw a major uppity in price because war and stuff. So when/if it crashes/corrects like it did in most other recessions where oil saw a spike in price, bitcoin will experience collateral damage in price. Will that event (if it were to happen) coincide with the 4 year cycle? No crystal ball so idk.

[ChartBuddy]

Explanation
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