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

[bitserve]

Unexplained wealth is the reason. And it is on you to prove it didn't come from illicit activities and to pay the proper tax on it.

It's not doubt plenty of wealth but it is fully explainable. You're better off contacting your bank beforehand and having all your info together but people do it every single day without being executed.

Being explainable doesn't avoid you having to fully explain it. Of course once you are increasing your official net worth (paying taxes et all) you already have a track record that is not suspicious anymore.

Anyways, what dabs was suggesting is trying to make them believe that all his Bitcoins were bought in the last few months without any sound proof of where did he get the cash to buy it, from whom (unidentified individuals), etc...

And THAT, will be a real nightmare that most probably wouldn't end well.

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[Richy_T]

I don't know the technical of how to fix it,

Okay...

I don't know the technical of how to fix it,
but that's not important, I'm sure there are people who have a fair idea of how to do it. Do it in a way that  maintains the very essence of Bitcoin. Keep it as decentralized as possible. Don't mess anything up! GIVE THE POWER BACK TO THE PEOPLE!
If that means not highening the block size, so be it. "...Well but the network fee is too high then!" well go use some other coin to pay for your coffe if it's too high.. One should use Bitcoin as a cryptocurrencies vault, from where one can send a larger amount to another wallet, which is to be used for daily purchases.
 Don't close the door on the guy who has his miner in the basement. If there is no people, there is no value.

And you betray yourself with your followup. You are belittling people, many of whom have very technical backgrounds who happen to disagree with the way Core is handling things and who do not see this "decentralization" argument as more than a scare tactic. You claim you do not understand well the mechanisms then fall back on relying on authority. If you really don't understand the technicals of why people are pushing for a block size limit increase, I suggest you educate yourself but I suspect the "I'm just a simple rube" act is exactly that.

And for what it's worth, high fees are devastating for the small miner.

[Richy_T]

However does anybody here if it really will kill ASICBOOST now?

AFAIK, it's basically Core's version of Segwit with different signalling. So that would mean it would put an end to *covert* asicboost but not overt (I think).

If Jihan was not using it, as claimed, that should not be a big deal. He's signed up for it either way anyway.

[Meuh6879]

Unexplained wealth is the reason. And it is on you to prove it didn't come from illicit activities and to pay the proper tax on it.

that's why a bitcoin holder lease ... everything.
like rich family with gold deposit (in private storage).
use ... XAPO card for example.

[Richy_T]

Yep. But they were talking about declaring that one of the last purchased BTC (at a much higher buying price) is the one being sold. That completely ignores FIFO (First In First Out) that I supposse is a standard on most western countries.

All my bitcoins were purchased about one month ago. I can show you records. I bought it from a guy in the corner of some street, I don't know where, and I can't find him anymore, but here it is in the block explorer. That's my very first one. The next one is a few days later. See, here. (pointing to a print out of blockchain.info or any other block explorer and the paper wallet in question.)

I bought bitcoins because I saw it on CNN and CNBC and Fox News last month.

CGT is often higher on shorter-term investments (not sure that applies here though)

[Richy_T]

People discussing how to defraud the taxman on a public forum. *shakes head*. I hope you're all using VPNs.

[bitserve]

People discussing how to defraud the taxman on a public forum. *shakes head*. I hope you're all using VPNs.

It's all for scientific purposes... and you know it!

[Elwar]

People discussing how to defraud the taxman on a public forum. *shakes head*. I hope you're all using VPNs.

As Mitt Romney said, you can legally not pay your taxes.

Or at least, keep your tax footprint small.

[Meuh6879]

taxman rise DEBT over my 3nd generation. 
that's why i have choosed Bitcoin over Bank.
taxman is Bank, now.

[bitserve]

People discussing how to defraud the taxman on a public forum. *shakes head*. I hope you're all using VPNs.

As Mitt Romney said, you can legally not pay your taxes.

Or at least, keep your tax footprint small.

Of course you can legally not pay taxes (or pay much less). But not in the ways are being discussed here.

Look at Roger Ver, he even left the USA nationality and became a citizen of Saint Kiss and Nevis (whatever that is).

There are ways, but none of them are simple nor cheap.

[Torque]

Guys, just a PSA, please quit worshipping or glorifying Vinny Lingham just because he is on some stupid TV show and happens to like Bitcoin. The guy is a complete idiot hack who knows absolutely nothing about Bitcoin protocol design but keeps pretending like he does. Kinda like Roger Ver. And his calls/predictions on bitcoin price movement have been way off too, so he's not even a decent oracle.

https://twitter.com/VinnyLingham/status/844658734991257600

I'm getting sick and tired of seeing people who have no technical knowledge, background, or experience of Bitcoin protocol development talking as if they are an expert, or even knowledgeable enough to debate the topic.

It's the pinnacle of Mt. Stupid on the knowledge chart. I wish people would just show more humility.

[European Central Bank]

Guys, just a PSA, please quit worshipping or glorifying Vinny Lingham just because he is on some stupid TV show. The guy is a complete idiot hack who knows absolutely nothing about Bitcoin protocol design but keeps pretending like he does. Kinda like Roger Ver. And his calls on bitcoin price movement have been way off too, so he's not even a decent oracle.

https://twitter.com/VinnyLingham/status/844658734991257600

he sold everything because of the previous threatened unlimited fork. i think he's a little bit adrift these days. he probably sits on park benches tweeting to himself.

[N12]

Everyone looking forward to the weekend dumps?

[bones261]

Everyone looking forward to the weekend dumps?

Satoshi needs to come out of hiding with all of his BTC and dump all the markets down to $1.00 while I'm involved in a short. I'm sure the markets will recover quickly.  

[White sugar]

In the meanwhile, Litecoin is being highly pumped because LTC will be traded on Bitstamp by Monday and maybe something related to lightning network.

I think people may sell BTC for LTC and dump the BTC price a little.

[criptix]

Uhm is it time to go full fomo in ltc?

Ltc trailed btc 1:15 at the peak?

[bitserve]

In the meanwhile, Litecoin is being highly pumped because LTC will be traded on Bitstamp by Monday and maybe something related to lightning network.

I think people may sell BTC for LTC and dump the BTC price a little.

It was totally expected that LTC would moon. Also in the past few days satoshilite has resigned from Coinbase to fully devote to Litecoin. LTC will be traded on Bitstamp on monday, which is another bullish factor... but Bitstamp doesn't have LN implemented yet, just regular trading and transactions.

I am not so sure many Bitcoiners will do that right now. Most probably already did when LTC announced it was implementing Segwit as a matter of showing support to Segwit (at least thats what I did).

I can't even imagine how much will Bitcoin rise when Segwit approval is a sure thing and all scaling issues are finally solved.

[European Central Bank]

While I'm looking forward to seeing what a lightning network looks like,  it may not be the miracle everyone's hoping for.

They've restricted the amounts you can send to 0.042 and you're still tied to on chain transactions at either end.

Just the beginning of course so there'll be way more to come but theres alot to hammer out.

[TeeBone]

Litecoin's gonna breakout hard, charts bullish......one of the few alts (monero too) that isnt scammyish.

[bones261]

Litecoin's gonna breakout hard, charts bullish......one of the few alts (monero too) that isnt scammyish.

I have no way of actually knowing, but I'm probably helping people go long on LTC on Polo with my margin lending. Wasn't paying attention. Should have transferred funds to margin and went long myself hours ago.