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

[HairyMaclairy]

Goldman Sachs CEO:   Something that moves 20% overnight does not look like a currency.  It is a vehicle to perpetuate fraud. 


Buy signal. 

[pfrtlpfmpf]

You said it, without saying anything !

[RejectedBanana]

I may be asking a question with an obvious answer, but could a US citizen immigrate to Panama (or another CG-free country), then cash in his bitcoins tax free, and be off the hook for taxes in the US?

You have to irrevocably renounce your citizenship. With the caveat:

Persons who wish to renounce U.S. citizenship should be aware of the fact that renunciation of U.S. citizenship may have no effect on their U.S. tax or military service obligations.

https://travel.state.gov/content/travel/en/legal-considerations/us-citizenship-laws-policies/renunciation-of-citizenship.html

So I'm guessing if you haven't realized any gains until after renouncing, you're safe?

(contact the Internal Revenue Service or U.S. Selective Service for more information)

Ha!

[Rosewater Foundation]

You said it, without saying anything !

It's called a "picture".

[lightfoot]

No, you make sure you pay all of your realized gains on the way out. That's not a big deal, Just write them a check on the day you leave with the final balance at whatever the LTCG is.

Then off you go.

[Rosewater Foundation]

I'm officially spooked.

[bitserve]

So... If you sent all your BTC to a 1dicexxxx address, and got back 98% that's gambling right?

The profits? Yes.

... But you have to pay capital gains for every BTC you "spend" to gamble in first instance as that would be a taxable event (the selling of BTC to gamble) no matter if you win or lose afterwards.

P.S.: Almost everything is a taxable event as it involves "using" the actual value of BTC which is different than when you initially acquired it. The only thing I don't agree is that "moving the coins out of coinbase" is a taxable event. That doesn't make any sense.

[explorer]

I'm officially spooked.

... I'm afraid you're going to need a much bigger graph.

[Rosewater Foundation]

That's what she said.

[jojo69]

I think to evade US clutches you would need to fake your own death as a minimum. 

Thanks. That's kind of what I figured. 

Or a proper opaque blockchain.

Just sayin.

The "M" blockchain is the only other one I believe in. 

ZEC is OK

I don't have much love for alts in general, but this in particular always bothered the hell out of me.
https://blog.okturtles.com/2016/09/how-to-compromise-zcash-and-take-over-the-world/

fully acknowledged

I think they are, in fact, taking their own advise

https://www.coindesk.com/devs-destruction-inside-zcashs-second-crypto-ceremony/

[Wekkel]

Arbitrary graph is arbitrary. Show me the bubble that is car, electricity, tv-sets and the Internet. Still bubbles?

[explorer]

I think to evade US clutches you would need to fake your own death as a minimum. 

Thanks. That's kind of what I figured. 

Or a proper opaque blockchain.

Just sayin.

The "M" blockchain is the only other one I believe in. 

ZEC is OK

I don't have much love for alts in general, but this in particular always bothered the hell out of me.
https://blog.okturtles.com/2016/09/how-to-compromise-zcash-and-take-over-the-world/

fully acknowledged

I think they are, in fact, taking their own advise

https://www.coindesk.com/devs-destruction-inside-zcashs-second-crypto-ceremony/

Its still a for profit company that takes a 20% tax on every block.  I mean, WTF?

Anyway, people will use whatever they want, and most will lose their money.  Its human nature. 

Bitcoin.  $8000 or $11000 next?

[Heater]

Bearstamp looking rather bullish at the moment, broken downward 1 hour trend. 

True, but I still don't see it holding. Will be interesting to see how it goes.

A decent retest of support here (or sideways for a while) would be nice before the next big rise.

[bitserve]

Arbitrary graph is arbitrary. Show me the bubble that is car, electricity, tv-sets and the Internet. Still bubbles?

Don't forget about smartphones. That has been a really fast and wild bubble adoption curve.

[Dabs]

So... If you sent all your BTC to a 1dicexxxx address, and got back 98% that's gambling right?

The profits? Yes.

... But you have to pay capital gains for every BTC you "spend" to gamble in first instance as that would be a taxable event (the selling of BTC to gamble) no matter if you win or lose afterwards.

P.S.: Almost everything is a taxable event as it involves "using" the actual value of BTC which is different than when you initially acquired it. The only thing I don't agree is that "moving the coins out of coinbase" is a taxable event. That doesn't make any sense.

You have BTC. You gamble it on a BTC only dice site (or any other BTC only gambling site) that does not accept fiat. You don't have any profits because you just lost 2%, if you played a game with a 98% chance to win, if you won. If you lost, well, uh, you lost everything. You could play a game that allows a 100% chance to win with a 2% house edge maybe.

Your win now is from gambling. You're not selling BTC to gamble, you are gambling the BTC itself.

Or the IRS does not see it that way? You guys are f**ked uh no matter what.

[pfrtlpfmpf]

Arbitrary graph is arbitrary. Show me the bubble that is car, electricity, tv-sets and the Internet. Still bubbles?

Don't forget about smartphones. That has been a really fast and wild bubble adoption curve.

Yeah, sometimes i think: "Zwickts mi, i man i tram" But here we are !

[podyx]

This is not looking good..

[explorer]

This is not looking good..

Sure it is.  Exhale occasionally.  Take a clean breath at $8200, and then hold it again if you like 

[600watt]

Bearstamp leading the charge back to 10K == bullish.

Countries that do _not_ have capital gains taxes; Switzerland, Seychelles, Hong Kong, Singapore, New Zealand, British Virgin Islands (other Carribean sweat holes too many to remember), Panama, ... i.e. there's quite a few if you do your research.

If exporting crypto from Coinbase to local wallet is considered a taxable event how much is a cross-chain atomic swap going to blow their tiny minds?

Dinosaurs, meteorites, asteroids, etc ... they should just run before they get smashed by a ball of fire impacting on their stupidity, exploding their evil, naked greed and lust for the wealth of others.

in germany, when hodling btc for more than 12 months: no taxes at all on the gains. a tax that encourages hodling. sweet.

[pfrtlpfmpf]

Bearstamp leading the charge back to 10K == bullish.

Countries that do _not_ have capital gains taxes; Switzerland, Seychelles, Hong Kong, Singapore, New Zealand, British Virgin Islands (other Carribean sweat holes too many to remember), Panama, ... i.e. there's quite a few if you do your research.

If exporting crypto from Coinbase to local wallet is considered a taxable event how much is a cross-chain atomic swap going to blow their tiny minds?

Dinosaurs, meteorites, asteroids, etc ... they should just run before they get smashed by a ball of fire impacting on their stupidity, exploding their evil, naked greed and lust for the wealth of others.

in germany, when hodling btc for more than 12 months: no taxes at all on the gains. a tax that encourages hodling. sweet.

to cold again
I really have to try New Zealand, but my girlfriend says, thats the other side of the world. But i say: soon the moon is my second living place !

And Elon Musk said, we´re going to fly around the world in about one hour, soon, no ?

I just couldn´t afford it, but over 10,000 i´ll have to rethink it.