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

[podyx]

Ascending triangle.

Bulls still in control.

[JimboToronto]

Ascending triangle.

Bulls still in control.

Was there any doubt?

[dumbfbrankings]

I don't know about the USA but here in Canada, profits from Bitcoin trading are considered capital gains, realized at the time of sale. If you mine them, they're taxable as income at the time of sale.

My understanding of the US treatment:

Capital gains/losses are calculated at the time of sale from the original purchase price, using FIFO or LIFO, as long as consistent. Mined coins are counted as income at the time and value of when they were mined, and, at that point, become a cost basis for capital gains.

JJG is confused about when the gains are realized... it's at the sale of the asset, not a balance of the USD you've sent/received to/from the exchange or brokerage.

[jt byte]

Bitcoin Block Reward Halving Countdown:
Only 20 more days!

Reward drop ETA: Sun, 10 Jul 2016 01:11:43 GMT

Time is coming to holt on your bitcoins boys.
Not too sure if I want to sell now with only less than 3 week to go till the price goes BoOm! 

[JayJuanGee]

I don't know about the USA but here in Canada, profits from Bitcoin trading are considered capital gains, realized at the time of sale. If you mine them, they're taxable as income at the time of sale.

My understanding of the US treatment:

Capital gains/losses are calculated at the time of sale from the original purchase price, using FIFO or LIFO, as long as consistent. Mined coins are counted as income at the time and value of when they were mined, and, at that point, become a cost basis for capital gains.

JJG is confused about when the gains are realized... it's at the sale of the asset, not a balance of the USD you've sent/received to/from the exchange or brokerage.

Whether on purpose or not, you are misquoting me, goofball - I mean dumbfbrankings - I mean Lambie. 

[marcus_of_augustus]

Looks like the ETH spectacular (but entirely predictable) centralised clustfeck implosion is dragging on bitcoin, temporarily, which may not be bad thing to pace the current expansion that was in danger of getting ahead of itself. Looks like some large players may be trying to rotate out of ETH (too much risk) and into the one true base coin so the train stop at 760 is being delayed for them ... but the march to $960 and above is unstoppable as it will be the new floor for the miners after July 10 and they will enforce that as soon and as much as they are able.

[dumbfbrankings]

I don't know about the USA but here in Canada, profits from Bitcoin trading are considered capital gains, realized at the time of sale. If you mine them, they're taxable as income at the time of sale.

My understanding of the US treatment:

Capital gains/losses are calculated at the time of sale from the original purchase price, using FIFO or LIFO, as long as consistent. Mined coins are counted as income at the time and value of when they were mined, and, at that point, become a cost basis for capital gains.

JJG is confused about when the gains are realized... it's at the sale of the asset, not a balance of the USD you've sent/received to/from the exchange or brokerage.

Whether on purpose or not, you are misquoting me, goofball - I mean dumbfbrankings - I mean Lambie.  

Actually, I'm confident I quoted your error explicitly, here:

Not based on merely the fact that the trader is making trading profits, but instead based on when the trader actually cash out the gain and the gain is "realized."  

Also... not lambie, you should be able to tell the difference by now.

[JayJuanGee]

I don't know about the USA but here in Canada, profits from Bitcoin trading are considered capital gains, realized at the time of sale. If you mine them, they're taxable as income at the time of sale.

My understanding of the US treatment:

Capital gains/losses are calculated at the time of sale from the original purchase price, using FIFO or LIFO, as long as consistent. Mined coins are counted as income at the time and value of when they were mined, and, at that point, become a cost basis for capital gains.

JJG is confused about when the gains are realized... it's at the sale of the asset, not a balance of the USD you've sent/received to/from the exchange or brokerage.

Whether on purpose or not, you are misquoting me, goofball - I mean dumbfbrankings - I mean Lambie.  

Actually, I'm confident I quoted your error explicitly, here:

Not based on merely the fact that the trader is making trading profits, but instead based on when the trader actually cash out the gain and the gain is "realized."  

Also... not lambie, you should be able to tell the difference by now.

Your confidence is a big fucking WHATEVER... You know that "cashed out" in that context is meant to suggest the selling the asset, you dumb fuck... I am not saying when the dollars were sent to the exchange or received from the exchange.  

You are attempting to find ambiguity with my statement when it should be abundantly clear and get caught up in the weeds of nonsensical and irrelevant stream of consciousness for no good reason except to attempt to clutter this thread with riddles, and yeah, so it seems that you are on target in your contributing to the distracting goals of goofball trolls and corporate shills, such as yourself.


And regarding your point about Lambie, what difference does it make if you are lambie herself or some lambie imitator, either way you are still engaging in copy cat terrorism.   

[Holliday]

Go home Bitstamp, you're drunk.

[darlidada]

Looks like the ETH spectacular (but entirely predictable) centralised clustfeck implosion is dragging on bitcoin, temporarily, which may not be bad thing to pace the current expansion that was in danger of getting ahead of itself. Looks like some large players may be trying to rotate out of ETH (too much risk) and into the one true base coin so the train stop at 760 is being delayed for them ... but the march to $960 and above is unstoppable as it will be the new floor for the miners after July 10 and they will enforce that as soon and as much as they are able.

dont you think we will correct since today is auction tend and the marktets tended to do that?

[bitcrypto10101]

Is BTC decentralised ?

[Elwar]

Looks like the ETH spectacular (but entirely predictable) centralised clustfeck implosion is dragging on bitcoin, temporarily, which may not be bad thing to pace the current expansion that was in danger of getting ahead of itself. Looks like some large players may be trying to rotate out of ETH (too much risk) and into the one true base coin so the train stop at 760 is being delayed for them ... but the march to $960 and above is unstoppable as it will be the new floor for the miners after July 10 and they will enforce that as soon and as much as they are able.

dont you think we will correct since today is auction tend and the marktets tended to do that?

From past auctions, the price tends to go down shortly before the auction (people are selling bitcoins so they can buy at the auction).

If that was the sell off, we're looking good for a good climb at this point.

[darlidada]

Looks like the ETH spectacular (but entirely predictable) centralised clustfeck implosion is dragging on bitcoin, temporarily, which may not be bad thing to pace the current expansion that was in danger of getting ahead of itself. Looks like some large players may be trying to rotate out of ETH (too much risk) and into the one true base coin so the train stop at 760 is being delayed for them ... but the march to $960 and above is unstoppable as it will be the new floor for the miners after July 10 and they will enforce that as soon and as much as they are able.

dont you think we will correct since today is auction tend and the marktets tended to do that?

From past auctions, the price tends to go down shortly before the auction (people are selling bitcoins so they can buy at the auction).

If that was the sell off, we're looking good for a good climb at this point.

actually, its the opposite, the sell off happens after the auction. for instance, last auction happened on the 5th of november, we climbed very quickly from the 1 to the 5 (300 to 400) and then started the decline right back to 300

we'll see if this time the halving change things

[marcus_of_augustus]

From past auctions, the price tends to go down shortly before the auction (people are selling bitcoins so they can buy at the auction).

If that was the sell off, we're looking good for a good climb at this point.

actually, its the opposite, the sell off happens after the auction. for instance, last auction happened on the 5th of november, we climbed very quickly from the 1 to the 5 (300 to 400) and then started the decline right back to 300

last time it was already down hard the day before the auction (Nov. 4) ...

[darlidada]

From past auctions, the price tends to go down shortly before the auction (people are selling bitcoins so they can buy at the auction).

If that was the sell off, we're looking good for a good climb at this point.

actually, its the opposite, the sell off happens after the auction. for instance, last auction happened on the 5th of november, we climbed very quickly from the 1 to the 5 (300 to 400) and then started the decline right back to 300

last time it was already down hard the day before the auction (Nov. 4) ...

my god you are right, sorry i was checking the graph on a site im not used to. so we had a high of 504 the day before the auction and a close at 409, then it went downhill the day of the auction

so you guys think the sell off already happened?

[Elwar]

The auction already started at 12:00AM this morning Australia time. So any money needed is already out of the market.

[zby]

"BTC price rally news on today's China Central TV channel": https://twitter.com/cnLedger/status/744528738113642499 - Can anyone verify that? I cannot install the plugin to view it.

From https://www.reddit.com/r/Bitcoin/comments/4otkjw/btc_price_rally_news_on_todays_china_central_tv/

[Bavaria]

Btc is making a little pause before it legs up @ $850.

[calme]

Consolidation my German friend. As someone else said, it's in an ascending triangle pattern, indicating an uptrend

[bitebits]

With almost 14M views, this topic will soon have more views than the number of BTC in circulation

If I would have gotten one for each time I viewed this topic, I would be rich.
It is a mandatory place for your daily dosis of Bitcoin entertainment.