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

[bitcoin carpenter]

This document is fresh from the press, it's not yet availible in english för som odd reason, but if you can read any of the other 17 langugeses that it comes in it is very interesting.
In short, one of the Swedish  high courts has asked the European court for advice on where Europe stands on taxing the exchange of bitcoin to fiat and vice vesa. This in turn because a Swedish citizen appealed a decision from the Swedish tax authorties on paying tax for the exchange of bitcoins he is doing in his company.
The european advocat general Juliane Kokott suggests as a verdict that bitcoin should be regarded as a currency and not be taxed. The court usually go with the advocat generals suggestions.

http://curia.europa.eu/juris/document/document.jsf?doclang=DE&text=&pageIndex=0&part=1&mode=DOC&docid=165919&occ=first&dir=&cid=388883

good news !

This is awesome!

Wow if that goes through, I may move to Sweden.

[1715282046]

1715282046

[1715282046]

1715282046

[1715282046]

1715282046

[Greendragon]

It is already tax free just like stocks here in Belgium and Netherlands to I think.

[Greendragon]

I think if we go Below 260 the uptrend is broken and we will have the same boring 230-250 range for another 6 months leading up to the halving.

+2

[ChartBuddy]

Coin
Explanation

[bitcoin carpenter]

It is already tax free just like stocks here in Belgium and Netherlands to I think.

I think it's considered a commodity in canada

[Bitcoin Haber]

I think if we go Below 260 the uptrend is broken and we will have the same boring 230-250 range for another 6 months leading up to the halving.

+2

Still 370+ days for halving. 6 months sideways would be brutal.

[pinky]

I think if we go Below 260 the uptrend is broken and we will have the same boring 230-250 range for another 6 months leading up to the halving.

+2

Still 370+ days for halving. 6 months sideways would be brutal.

Could also be the same as with LTC people front running the halving.

[Arriemoller]

This document is fresh from the press, it's not yet availible in english för som odd reason, but if you can read any of the other 17 langugeses that it comes in it is very interesting.
In short, one of the Swedish  high courts has asked the European court for advice on where Europe stands on taxing the exchange of bitcoin to fiat and vice vesa. This in turn because a Swedish citizen appealed a decision from the Swedish tax authorties on paying tax for the exchange of bitcoins he is doing in his company.
The european advocat general Juliane Kokott suggests as a verdict that bitcoin should be regarded as a currency and not be taxed. The court usually go with the advocat generals suggestions.

http://curia.europa.eu/juris/document/document.jsf?doclang=DE&text=&pageIndex=0&part=1&mode=DOC&docid=165919&occ=first&dir=&cid=388883

good news !

This is awesome!

Wow if that goes through, I may move to Sweden.

No need, the decision, if it stands, is valid for all of the European Union.
The Swedish tax authorities also considered it a commodtiy, that's why this guy is looking for a European decision.

[Arriemoller]

Keep in mind that it is a decision about tax on the selling and buying of bitcoins. What the americans call sales tax. You still have to pay tax on the profits from speculation.
But the decision is very important for the implementation of bitcoin as a useful currency in Europe. It would be almost impossible to accept bitcoin as payment if you had to pay a sales tax on every transaction.

[heartastack]

Seems BTC has become a economic indicator. When there is turmoil in various stock markets or potential economy collapse, the price soars. When all is calm and steady the price falls and lays there.

It has yet to really be used for purchases for every day goods for every day households, as it was intended. Mostly its become a tool of speculation or an option to park cash in the face of economic downturns.

Maybe its that Intrinsic value thing again lol

Still optimistic though  

Bitcoin's value is in that it can be so easily manipulated to make it look like exactly what you're speculating it to look like. Yep economic turmoil.. Let's make btc behave like that, then bam profit. Bitcoin is whatever the popular discourse is at the time because that's how the market is moved.

It will keep being this until it is too expensive to manipulate. Or as others have suggested, just gets milked until all the players leave the grounds.

[ChartBuddy]

Coin
Explanation

[TerraMaster]

Seems BTC has become a economic indicator. When there is turmoil in various stock markets or potential economy collapse, the price soars. When all is calm and steady the price falls and lays there.

It has yet to really be used for purchases for every day goods for every day households, as it was intended. Mostly its become a tool of speculation or an option to park cash in the face of economic downturns.

Maybe its that Intrinsic value thing again lol

Still optimistic though  

Bitcoin's value is in that it can be so easily manipulated to make it look like exactly what you're speculating it to look like. Yep economic turmoil.. Let's make btc behave like that, then bam profit. Bitcoin is whatever the popular discourse is at the time because that's how the market is moved.

It will keep being this until it is too expensive to manipulate. Or as others have suggested, just gets milked until all the players leave the grounds.

too expensive to manipulate
That's an interesting point as well  

[ChartBuddy]

Coin
Explanation

[Meuh6879]

god damned ... pass the 249 euros just 10 seconds !
i have an order to complet ... 

[natewelt]

Here is what I am seeing on the long-term chart. Appears that we are in a tight rising wedge that goes back to early 2013.

The upper and lower bounds of the wedge touch very precisely in roughly 5 spots each which tells me this isn't a coincidence. We recently tested the upper bound at roughly 315 and failed to breakout. Testing the upper bound was bullish, but failing to breakout above it was bearish. In order for me to turn ultra bullish I would like to see us...

1. Breakout above the upper bound considerably to roughly 415 (area of support in April/May of 2014 which became resistance in Oct/Nov of 2014)
2. Retrace back to the breakout point to test the upper bound to see if transitioned to support
3. Bounce off the upper bound (which would be below the BTC price at this point in this scenario) and head back towards 415






Even though I am not ultra bullish, I still own some coins and think the risk is to the upside for the following reasons...

1. The 50 day moving average is now above 200 day moving average and trending upwards signaling near-term momentum is on our side
2. The wedge in the above picture is a rising wedge which obviously is better than a falling wedge
3. Bitcoin adoption and investment continues to rise while volatility continues to fall
    see link ---> https://blog.coinbase.com/2015/07/15/bitcoin-trends-in-1h-2015/


I'd like to hear some opinions on these thoughts. Any takers?

[ChartBuddy]

Coin
Explanation

[TerraMaster]

Man BTC fighting hard and pushing back tonight  Earlier today I felt we'd see 260's by this time tonight the way it was slipping.. amazing

[Fakhoury]

Bullish (Notice the volume) ?

[Morecoin Freeman]

I'd like to hear some opinions on these thoughts. Any takers?

I can follow you. Nice analysis.

I kind of predicted this recent rally from 220 to 300+, but I did not expect it to go this far which is really amazing. I'm bullish at the moment.

[SmoothCurves]

I'd like to hear some opinions on these thoughts. Any takers?

I can follow you. Nice analysis.

I kind of predicted this recent rally from 220 to 300+, but I did not expect it to go this far which is really amazing. I'm bullish at the moment.

DO you agree we are done with the bear trend?