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

[TheKoziTwo]

i bought again

Again I'll ask:

Are you all in yet?  

I think the more interesting question is, are you all out?

[Frozenlock]

i bought again

Again I'll ask:

Are you all in yet?  

I think the more interesting question is, are you all out?

Sure I am.

I even short when I can. Yesterday made me a nice profit.

As Proudhon would say, 2011 profoundly changed me. 

[Rampion]

i bought again

Again I'll ask:

Are you all in yet?  

I think the more interesting question is, are you all out?

I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear

[ft73]

i bought again

Again I'll ask:

Are you all in yet?  

I think the more interesting question is, are you all out?

Sure I am.

I even short when I can. Yesterday made me a nice profit.

As Proudhon would say, 2011 profoundly changed me. 

I envy your courage.

[IG0BR0KE]

i'm all out ladies..

http://img15.hostingpics.net/pics/547271Capturedu20130602141659.png

[lucas.sev]

I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear

I guess it is a bit different if you mined. I casually mine LTC (2.5/day) and I don't even care about their price, shorting them etc. The mindset changes completely once you buy virtual currency.

[samson]

I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear

I'm managing just fine without any BTC.

I really don't see why anyone continues to hold it while it's going down in value.

I appreciate it though as when they do all panic at the same time I'll be ready.

[lucas.sev]

I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear

I'm managing just fine without any BTC.

I really don't see why anyone continues to hold it while it's going down in value.

I appreciate it though as when they do all panic at the same time I'll be ready.

If you bought in at 20$ you don't really give a fuck if its 90 or 100.

[TheKoziTwo]

i bought again

Again I'll ask:

Are you all in yet?  

I think the more interesting question is, are you all out?

Sure I am.

I even short when I can. Yesterday made me a nice profit.

As Proudhon would say, 2011 profoundly changed me. 

Damn. I can't even sell 5% of my stash without trippin.

[TheKoziTwo]

i'm all out ladies..

Don't forget to pay capital gains on those fiats before buying back in.

[Frozenlock]

Oh wait, no... I think I have some Bitbills laying around.

I just don't want to destroy them to get the private keys.  

[TheKoziTwo]

Oh wait, no... I think I have some Bitbills laying around.

I just don't want to destroy them to get the private keys.  

How do you deal with capital gains? Ignore it?

[ChartBuddy]

[Frozenlock]

How do you deal with capital gains? Ignore it?

I would have some... but I lost most of my private keys in an unfortunate boat accident.

Also, not everyone lives in the US.
Some have special retirement accounts protected from taxation.
Other can deduct borrowed money when it's paid back.
I might have earned them with my business which accept Bitcoin and paid income tax then.

Really, taxation is a complicated game.
And as usual, those with the less money are those who will pay more.

[Rampion]

I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear

I guess it is a bit different if you mined. I casually mine LTC (2.5/day) and I don't even care about their price, shorting them etc. The mindset changes completely once you buy virtual currency.

Still I can't bear (LOL) being 100% out. Feels too risky. Infrastructure is fragile and having all the eggs in one basket (fiat on exchanges) seems kinda reckless to me. A paper wallet with some long-term holdings feels good. I expect the price to go down, thus 100% fiat to buy cheaper would be more profitable, but I may be wrong, or Gox may be running fractional reserve and go bust at some point (unlikely, but are you willing to bet your right hand on it? Not worth the risk).

I guess I'm too emotionally attached to my BTC

[TheKoziTwo]

How do you deal with capital gains? Ignore it?

I would have some... but I lost most of my private keys in an unfortunate boat accident.

Wow that blows... Sorry to hear that man

Also, not everyone lives in the US.
Some have special retirement accounts protected from taxation.
Other can deduce borrowed money when it's paid back.
I might have earn them with my business which accept Bitcoin and paid income tax then.

Really, taxation is a complicated game.
And as usual, those with the less money are those who will pay more.

I'm not living in the US either, but about 97% of my BTC value is pure profit. If I sold out now I would have to pay ~30% in capital gains. That would require one hell of a trade to just break even (ok, maybe no biggie if I had balls like you). I could technically ignore reporting it, it's kind of a gray area, but I donno, the tax man would probably eat me alive if I did that. 

Oh well, guess I'm stuck holding, for the longest time. 

[Frozenlock]

This is a funny thing... capital gain tax on a number (private key).

I wonder when they will tax the alphabet. 

[TheKoziTwo]

This is a funny thing... capital gain tax on a number (private key).

I wonder when they will tax the alphabet. 

Screw it, they can tax my brainwallet when they pry it from my cold dead neurons. 

[Rampion]

How do you deal with capital gains? Ignore it?

I would have some... but I lost most of my private keys in an unfortunate boat accident.

Wow that blows... Sorry to hear that man

Also, not everyone lives in the US.
Some have special retirement accounts protected from taxation.
Other can deduce borrowed money when it's paid back.
I might have earn them with my business which accept Bitcoin and paid income tax then.

Really, taxation is a complicated game.
And as usual, those with the less money are those who will pay more.

I'm not living in the US either, but about 97% of my BTC value is pure profit. If I sold out now I would have to pay ~30% in capital gains. That would require one hell of a trade to just break even (ok, maybe no biggie if I had balls like you). I could technically ignore reporting it, it's kind of a gray area, but I donno, the tax man would probably eat me alive if I did that.  

Oh well, guess I'm stuck holding, for the longest time.  

If you are planning to transfer "for good" significant funds to your personal account to realize fiat denominated profit, it's always better to declare it and pay for it. Not because of some sort of perverted morality, just because you will avoid potential problems in the future.

As Frozenlock said, as usual those with less money are those who pay more. Everything depends on how big are the gains you want to "cash out". If those gains are big enough, you can easily build a structure that will make you save a lot of money. But if they are not, you end up paying more. You "cannot afford" to save on taxes

[ardana123]

I cannot even imagine being totally out. Every man needs his untouchable paper wallet. The feeling of being 100% out has to be unbearable even for the biggest bear

I guess it is a bit different if you mined. I casually mine LTC (2.5/day) and I don't even care about their price, shorting them etc. The mindset changes completely once you buy virtual currency.

Still I can't bear (LOL) being 100% out. Feels too risky. Infrastructure is fragile and having all the eggs in one basket (fiat on exchanges) seems kinda reckless to me. A paper wallet with some long-term holdings feels good. I expect the price to go down, thus 100% fiat to buy cheaper would be more profitable, but I may be wrong, or Gox may be running fractional reserve and go bust at some point (unlikely, but are you willing to bet your right hand on it? Not worth the risk).

I guess I'm too emotionally attached to my BTC

I'd choose having my money in fiat on one of these exchanges over having my money in BTC... BTC might crash at any given point and fuck you over completely when it catches you off guard. And how exactly would mtgox run fractional reserve, only banks can do that... Given the amount of money that's being traded on Gox (millions), i'd say we're pretty safe... It wouldn't be easy to get away with theft of that magnitude.