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

[edgar]

rekt?

[x2666]

If I was a Bitcoin 'player' I think I'd retire and develop my model train set instead.

Everyone's so unbelievably emotional and hyper twitchy that if you move your Johnson one inch too far to the left it's interpreted by others as categorical evidence of your being purchased by Bilderberg.

They're turning the frogs GAY and Michael Obama is a Tranny! There's a war on for our minds and we're all gonna die!

[pfrtlpfmpf]

If I was a Bitcoin 'player' I think I'd retire and develop my model train set instead.

Everyone's so unbelievably emotional and hyper twitchy that if you move your Johnson one inch too far to the left it's interpreted by others as categorical evidence of your being purchased by Bilderberg.

Their turning the frogs GAY and Michael Obama is a Tranny! There's a war on for our minds and we're all gonna die!

The frogs are gay ? Didn´t know that, but i always suspected. But Michell Obama is old news. 

[luckygenough56]

kraken starting not too respond well = dump imminent 

[becoin]

kraken starting not too respond well = dump imminent 

Hopefully it will start to respond well after dump is over so that I can buy cheap bitcoins again.

[oblox]

Personally, I'd just declare any earnings as long term capital gains, pay the 15%, and be done with it.

If you can prove you held longer than a year, sure, but if it has been activity (such as trading), it's short-term capital gains. Further, LT rates depend entirely on tax bracket with those in the highest brackets paying 20%, not 15%.

^Forgot about the 20% tax bracket. Anyway, it would be worth holding an extra year for LT rates. Hell, the value of BTC will probably increase during that time anyway.

Yep, if the amount you take out plus your income is over $38k you have to pay 20% on long term capital gains.

Assuming you are in the US and a single filer, this is also wrong for the 2017 tax filing year given current law (and even some of the proposed Trump/Republican plans).

Even if you are a US citizen outside of the US.

Current top of the 15% income tax bracket is $37,950 according to https://www.fool.com/retirement/2016/12/04/your-guide-to-tax-brackets-in-2017.aspx
Any earned income above that puts you into the 25% income tax bracket which also puts you in the 20% capital gains bracket.

Regardless of whether you are a US citizen inside or outside the US... If we are talking a situation where 100% of your income is from harvesting LONG-TERM capital gains and you're a single filer, then the first $37,950 (after taking the standard deduction or itemizing if you have more than $10,400 in deductions), is taxed at 0%; then anything from $37,951 to $418,400 taxed at 15% and finally, anything $418,401+ taxed at 20%. You might be confusing the rates for section 1250 recapture.

[Elwar]

Personally, I'd just declare any earnings as long term capital gains, pay the 15%, and be done with it.

If you can prove you held longer than a year, sure, but if it has been activity (such as trading), it's short-term capital gains. Further, LT rates depend entirely on tax bracket with those in the highest brackets paying 20%, not 15%.

^Forgot about the 20% tax bracket. Anyway, it would be worth holding an extra year for LT rates. Hell, the value of BTC will probably increase during that time anyway.

Yep, if the amount you take out plus your income is over $38k you have to pay 20% on long term capital gains.

Assuming you are in the US and a single filer, this is also wrong for the 2017 tax filing year given current law (and even some of the proposed Trump/Republican plans).

Even if you are a US citizen outside of the US.

Current top of the 15% income tax bracket is $37,950 according to https://www.fool.com/retirement/2016/12/04/your-guide-to-tax-brackets-in-2017.aspx
Any earned income above that puts you into the 25% income tax bracket which also puts you in the 20% capital gains bracket.

Regardless of whether you are a US citizen inside or outside the US... If we are talking a situation where 100% of your income is from harvesting LONG-TERM capital gains and you're a single filer, then the first $37,950 (after taking the standard deduction or itemizing if you have more than $10,400 in deductions), is taxed at 0%; then anything from $37,951 to $418,400 taxed at 15% and finally, anything $418,401+ taxed at 20%. You're confusing the rates for section 1250 recapture.

Ahh yes, you are correct. I was thinking of the 0% rate.

[xhomerx10]

If I was a Bitcoin 'player' I think I'd retire and develop my model train set instead.

Everyone's so unbelievably emotional and hyper twitchy that if you move your Johnson one inch too far to the left it's interpreted by others as categorical evidence of your being purchased by Bilderberg.

Their turning the frogs GAY and Michael Obama is a Tranny! There's a war on for our minds and we're all gonna die!

The frogs are gay ? Didn´t know that, but i always suspected. But Michell Obama is old news. 

 Gay frogs; the science - Atrazine induces complete feminization and chemical castration in male African clawed frogs (Xenopus laevis)

[Karartma1]

We went ATH before being stopped again. I see a bit of sideways next if not another small correction down.
Golden rule still applies in these days: hold.

[xhomerx10]

rekt?

 Slightly different tone that previously.

[Karartma1]

Jihan's studies in Economics and Psychology @ Peking University should tell you he never makes a move without carefully planning it.
No surprise

[undeadbitcoiner]

We went ATH before being stopped again. I see a bit of sideways next if not another small correction down.
Golden rule still applies in these days: hold.

ATH for 2017 will be Sep 21st .

[savetherainforest]

@btcArtGallery

This is such gold. It will be a quote worthy of future history books on economics.

[bankpower]

Voted for 4000$+, I have a good feeling

[Torque]

Slightly different tone that previously.

https://bitcoinmagazine.com/articles/why-do-some-bitcoin-mining-pools-mine-empty-blocks-1468337739/

Is it bad?

"The whole point of the Bitcoin network is to process transactions. Therefore, empty blocks are often criticised as “bad behaviour” as creating very little value for the network by accelerating disinflation and stealing from “honest” miners.

However, it can also be considered as counter-balancing the centralisation tendency of the network: a pool which wins a block can start mining the next block immediately since they already know which transactions were included in the block. Whereas other miners first have to download the transactions, and then generate a new block which doesn’t include any of them. The ability to mine with just the header, could be considered to limit the benefits of centralisation.

Technically, it could be easily prevented by including, for example, a hash of the current coinbase concatenated with all the previous transactions in the block header. The recent fall in the number of empty blocks shows that the issue can be contained through improvements in the protocol which make mining empty blocks less interesting. Additionally, the gradual decrease of the block reward and the increased reliance on transaction fees will likely make mining empty blocks unprofitable over time."

[rjclarke2000]

I'm out of bch now. I know it's not the best time as btc has gone up a little and bch has dropped a bit but I am more than happy increasing my btc stash by that much. It's pretty incredible really.

 changing paper wallets, electron cash, Kraken, copy and pasting priv keys etc, confirmation emails .......blah blah

A hassle but WELL worth it.

[Ibian]

I'm out of bch now. I know it's not the best time as btc has gone up a little and bch has dropped a bit but I am more than happy increasing my btc stash by that much. It's pretty incredible really.

 changing paper wallets, electron cash, Kraken, copy and pasting priv keys etc, confirmation emails .......blah blah

A hassle but WELL worth it.

Heh. Minutes of work and some hours of waiting, and we are sitting here in our underwear complaining. And for the effort, depending on how many you have, a small fortune for some people. We really are the new wealthy elite, it would seem.

[Torque]

I'm out of bch now. I know it's not the best time as btc has gone up a little and bch has dropped a bit but I am more than happy increasing my btc stash by that much. It's pretty incredible really.

 changing paper wallets, electron cash, Kraken, copy and pasting priv keys etc, confirmation emails .......blah blah

A hassle but WELL worth it.

Good job. I'm waiting for 0.2 again, but don't know if it'll ever come. Maybe in November.

[gentlemand]

I'm surprised how rapidly trading has gone flat for it, and the price it's maintaining. I presume it's mainly going to straight to whales now for their next pump. I got rid of one at 0.23. The rest can wait for a higher price.

[bones261]

I'm out of bch now. I know it's not the best time as btc has gone up a little and bch has dropped a bit but I am more than happy increasing my btc stash by that much. It's pretty incredible really.

 changing paper wallets, electron cash, Kraken, copy and pasting priv keys etc, confirmation emails .......blah blah

A hassle but WELL worth it.

Good job. I'm waiting for 0.2 again, but don't know if it'll ever come. Maybe in November.

By that time their Emergency Difficulty adjustments might adjust the difficulty so low, that their chain will become a mire of reorgs and orphans. This definitely would be quite bearish for BCH if this happens. It hasn't happened, yet. We'll see.