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

[harrymmmm]

Hey - who here remembers Goat's Lambo?

Less than four years ago. It's hard to imagine where bitcoin will be in another 4 years.

https://bitcointalk.org/index.php?topic=378936.0

USD 191,000
BTC 216.8

Same priced car can now be bought with about 27 BTC. Or on the flip side, that 216.8 BTC is now worth a cool 1.5 million USD.

This poser thinks he was the first: https://www.youtube.com/watch?v=yY86vH7z9qA

goat is canny ... he bought the lambo, new, and then sold it on when btc had tanked ... pretty sure he would have got back in near the lows.

A couple years ago I made a ThailandBitcoin subreddit. In the middle of a thread on bitcoin exchanges and the 'banning' of bitcoin in thailand, goat said:
"Yes I bought a Lambo with XBT but I recently sold it and bought more XBT. It was a pro XBT PR stunt that also helped me acquire more XBT"
(https://www.reddit.com/r/BitcoinThailand/comments/2ysqmh/exchanges/)

The thread mostly consisted of him and a thai exchange owner slinging crap at each other ... worth a read.

[jojo69]

Goat kicked me out of the cript

said my posts were "low quality" 

[gwoplock]

The pitchfork suggests we may reach roughly $8000 before a sharp correction down to about $5000 before new all time highs greater than $10,000 by year end. The sell off might occur during the fork drama and rather than the end of the world present just another buying opportunity.

I'll confirm that with my gut.

[BlindMayorBitcorn]

https://twitter.com/BitfuryGeorge/status/926104635001143297

"Last 2 weeks we had over 50 Multi-Billion Family Offices approach us to get into Bitcoin !"

You're doing the lord's work over in that beginners sub. Sometimes I learn things.

[Ibian]

Alright, need a new email. I have a downright brilliant idea for it but let's liven this dull place up a bit with some collective brainstorming.

Rules are: Combine something old and new. The older the better, the newer the better. Bonus points for symbolic values.

Aaaaand go!

[lightfoot]

7250+ and 600 for Bitcrap cash and 55 for litecoin. Not a bad way to go to sleep.

And glad I bought the Bitcoin Porsche earlier, it's keeping me from Lambos.

[pfrtlpfmpf]

Guys, i can´t comprehent my sudden wealth, please help me.

This no joke. It´s probably, because i have no use of lambos, don´t know . . .

[Elwar]

Have any US citizens looked into a Charitable Remainder Trust for their BTC? I'm talking to a lawyer next week about setting one up. Seems like the best way to convert capital gains into income. Which, for me living overseas, I would rather have income which is not taxed than gains that are taxed.

Yes. You're basically trading your stash in for an annuity or similar. You can draw a yearly income off of it, but that income itself is still taxable (maybe not so much as an expat?). You're just avoiding cap gains, which might not be as bad as you think. Plus the trust has to be carefully managed to keep the IRS happy.

If you trust in Bitcoin's longevity, you maintain far more control keeping it in Bitcoin, and if Bitcoin cap gains are your only source of income, the first $37.5K are tax free, $75k if you're married, and after that it's only 15%. So say you're married and draw off $150k in pure gains (plus some amount of principle, which might be negligible at this point). The effective tax would only be 7.5%. That's like sale's tax, big f-ing deal.

Gifting Bitcoin also bypasses cap gains. The giftee's cost basis steps up to the date of the gift. Gift every member of your extended family and have them pay for the bulk of your needs. You can gift around $14k per year per person.

The best reason I can see for a charitable remainder trust is if you've totally lost faith in Bitcoin and want to ditch your whole stash pronto for lambos, property, securities, or fiat. Maybe it makes sense to do it for just the part you want to convert, but keep the bulk in Bitcoin until needed. Really depends on your circumstances and faith in Bitcoin.

https://www.estateplanning.com/Understanding-Charitable-Remainder-Trusts/
https://www.fool.com/retirement/2016/12/11/long-term-capital-gains-tax-rates-in-2017.aspx

Haven't lost faith in BTC, just wanted to lock in my retirement and not have to worry about money for the rest of my life. I locked in about half of my BTC stash which means I am only half as excited by the price rise as I was before.

Being an expat I do not pay taxes on the first $100k of income. I jumped the gun earlier this year and cashed out more than the $418k 20% capital gains threshold so a CRT might be able to get me back under that to get that down to 15%. Considering I don't have to pay the charity until I'm dead I hope to outlive the US and not worry about it. Either way money saved now vs money years from now that is worth enough to buy a loaf of bread is always better.

[Elwar]

Guys, i can´t comprehent my sudden wealth, please help me.

This no joke. It´s probably, because i have no use of lambos, don´t know . . .

I had the same thing happen to me when we jumped up to $1200. Puts a whole new perspective on life. Even now.

You go through your whole life with the idea that you have to work to make money, you need to upgrade your skills so you can get further in your career, you plan on working the rest of your life.

Then this happens and that is all thrown out the window. At the very least you can stop working at a job you don't like and start doing things you do like.

For me I want to work on something else and I keep falling into the old way of thinking of looking at how profitable it will be. Obviously if I'm working I want to get compensated but it is not as important. But if I work at some fun job that only pays me $10-$20 per day there's really no reason to make money, may as well do voluntary work.

I have been considering doing some blockchain work like Satoshi and not going the ICO route to make big bucks...just create something that will help the world and set it out there to grow on its own.

[jojo69]

Guys, i can´t comprehent my sudden wealth, please help me.

This no joke. It´s probably, because i have no use of lambos, don´t know . . .

focus on self sufficiency

water, food, concrete

[jojo69]

I hope to outlive the US and not worry about it

that is my strategy

[lightfoot]

Guys, i can´t comprehent my sudden wealth, please help me.

This no joke. It´s probably, because i have no use of lambos, don´t know . . .

This is an interesting problem. Not quite sure what you should do other than buy a 70 foot tall grain silo, fill it with gold, and go swimming like scrooge McDuck.

[Elwar]

Guys, i can´t comprehent my sudden wealth, please help me.

This no joke. It´s probably, because i have no use of lambos, don´t know . . .

This is an interesting problem. Not quite sure what you should do other than buy a 70 foot tall grain silo, fill it with gold, and go swimming like scrooge McDuck.

this

if there is anything I have learned from TV, this is definitely the best use of one's money

[podyx]

Anybody know if bitstamp will distribute Segwit2x coins like they eventually did with Bitcoin Cash?

[AlcoHoDL]

Price appears to be heading nicely and slowly, to a new ATH...
Friday may be kind to us.

[podyx]

Elwar how old are you?

[BitcoinNewsMagazine]

Anybody know if bitstamp will distribute Segwit2x coins like they eventually did with Bitcoin Cash?

You really think both chains will survive?

[savetherainforest]

Guys, i can´t comprehent my sudden wealth, please help me.

This no joke. It´s probably, because i have no use of lambos, don´t know . . .

If u'r in your prime, you have 50 years left to live. What is your desire?? (Be greedy with your cravings if they make you feel better, healthy, happy, relaxed and make you live longer!)

[Elwar]

Elwar how old are you?

43

[podyx]

Anybody know if bitstamp will distribute Segwit2x coins like they eventually did with Bitcoin Cash?

You really think both chains will survive?

I don't know but it's free money