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

[spooderman]

stamp about to 950

[1714532131]

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[1714532131]

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[spooderman]

so taiwan just banned btc atms. SEEL OLL TEH CIONS

[Davyd05]

so taiwan just banned btc atms. SEEL OLL TEH CIONS

will you sell me your coins for 1001

[solex]

There are about 25,000 coins left on all the exchanges put together.  Just guesstimating -- didn't actually count them.

For about 40 million you could get a corner on bitcoin.

That's about 9 days of mining output.

SecondMarket, Exante and probably other funds are scooping up the mining output (those which are not kept for long-term by the miners!)

[windjc]

There are about 25,000 coins left on all the exchanges put together.  Just guesstimating -- didn't actually count them.

For about 40 million you could get a corner on bitcoin.

That's about 9 days of mining output.

SecondMarket, Exante and probably other funds are scooping up the mining output (those which are not kept for long-term by the miners!)

I think this is true too. I think a lot of coins can never reach the exchange and I think this % is going to continue to grow as other funds get involved.

[Richy_T]

someone have access to all the train shirt links? need has order!

(they take BTC right?)

http://www.zazzle.com/choochoomf*

Sadly no BTC option

I have a plan though

[Richy_T]

Oh, you'll have to change the search setting from "safe" due to the language.

[spooderman]

so taiwan just banned btc atms. SEEL OLL TEH CIONS

will you sell me your coins for 1001

he has no coins...

y u sai dis? I was only joking

[ChartBuddy]

[Voodah]

Why not just spend BTC and never pay gains?

Whatever you need for the few services that you can't pay in BTC you can sell anonymously on LocalBitcoin or OTC.

Why would you pay the Gov for your BTC gains?

Is this not logical or is it just my 3rd world mentality kicking in?

[mmitech]

good morning, so not much action was happening overnight (EU zone), now that the week started and everything has started working again what is our next jump ? a new ATH ?

[aminorex]

Why not just spend BTC and never pay gains?

I'm a U.S. person, residing in the U.S.  I can answer the question on the basis of my personal outlook.  The IRS has rules for barter transactions.  I don't know what they are, and I don't want to know, but I don't want to violate any IRS regulation such that there is a feasible chance for the IRS to win a case against me in a tax court, at least a case significant enough such that they would not prefer to settle it out of court.  (U.S. federal tax court is a kangaroo court set up by the IRS and operating according to IRS rules.)  If I were inclined to activism, I might prefer prison to cooperation.  If I had no dependents I would take higher risks.  But it is what it is.

Prison is not so bad actually.  It's a boogeyman.  Everyone pretends that people who go to prison are highly likely to be anally raped,but it's mostly just a rumor used to instill fear.  (Think about it -- if you had to live close to someone, turn your back on them, for 5-10 years, would you anally rape them?  It would be suicidal.)  If I thought the principle were sufficiently important and the ancillary consequences relatively less significant, I would violate any tax law I considered unjust, and brag about it.  Those conditions have not been met.

Can I avoid prosecution for violating tax laws which, if the violations were exposed, would likely send me to prison?  Almost certainly.  But I think that if I am unwilling to go to prison to punish the state for its unjust abuses, then I have no moral standing to violate the law.  Again this is a risk-preference.  In this case it is moral risk which I am averse to.  And again, were I an independent agent I might take more risk, but taking too much moral risk could affect my relationships in ways which I will not risk.  As so many things in life do, at least for me, ultimately it comes down to sex.

Why would you pay the Gov for your BTC gains?

I certainly will not.  I know the tax code well enough to avoid any taxes on BTC gains, in an entirely lawful manner, but maintaining the lawfulness component will prevent me from accessing those gains until I am relatively old.  Meanwhile, I use them for philanthropic purposes (making them tax exempt, although I don't file the required paperwork because I'm pretty sure that's not going to create untenable risks) or for business enterprise expenses internal to my exempt holding structures.  If I wanted to buy a lambo tomorrow, I would probably choose to pay taxes on the gains from selling coins.  But I won't.  I have different priorities.

[Richy_T]

dont know how much we are going to owe and we are trying to figure that out. but really we dont care and will pay whatever the govt demands. however giving up US citizenship has crossed my mind. over the years i wonder how much it would save me.  

If you're a US citizen, you have to file taxes and FBARs (if your foreign bank account has over $10000 worth) every year whether you're resident or not. It's definitely put me off getting citizenship.

The FBAR thing has some very nasty teeth.

[spooderman]

I thought it would be Wednesday before we reached 900. Now I feel like ATH will be around then. Hope so.

[aminorex]

If you're a US citizen, you have to file taxes and FBARs (if your foreign bank account has over $10000 worth) every year whether you're resident or not. It's definitely put me off getting citizenship.

Not only if you are a US citizen, but if you are a US person, which includes a lot of non-citizens.  But citizens can stop being citizens by renouncing their citizenship at an embassy.  The downside is that you'll almost certainly never get back into the US again, unless you sneak over the border.

[el_rlee]

Nope.

Whats up with the username, goat?

also, all hell is going to break loose tomorrow after deposits get credited. Over the holidays, and weekend delays, I feel alot of buy support will be there tomorrow

The trust system here is lulz.

How do you even change your username?

[ChartBuddy]

[mb300sd]

Just torrented turbotax, my state taxes are higher than my federal... OUCH

Also, the bastards don't even have the capital gains forms ready yet...

[Ashitank]

lol 400 btc wall @ stamp between 947~948 got eaten-up   

[spooderman]

yay 950 fell. next wall at 1k