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

[lightfoot]

I'll let you guys in on a little secret. There's a reason why the establishment continues to preach "only invest what you are prepared to lose" or "only invest 1% or less of your savings." And it has nothing to do at all with protecting you from your own stupid decision making.

It's because they know Bitcoin is literally going to go to the moon, and they don't want entire nations of people retiring early. No working = no income = no tax collecting. They desperately need to collect income taxes from everyone until your 65. Without that the whole ponzi system would collapse.

I didn't listen to them back in 2013. Now I'm retiring early.

Use caution Torque. A lot of this is pure chance and us being in the right place at the right time and taking a chance. I've seen a number of people think that because they were in the right place at the right time it was due to their sooper skillz and not chance. Then they think they are super smart and lose everything an investment or two down the road because they know how to pick (stocks, companies, cars, collectibles, etc).

It's easy and fun to look at things in hindsight, but know that you don't bet the farm on every opportunity because most do not pan out. This one did....

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[Imbatman]

Can someone boil down this "printing Tethers out of thin air" from Bitfinex issue for me?  I understand there is real concern about this, but what is Bitfinex's side of the story?

Can some of this be legitimate (on Bitfinex's side)?

If I opened an account there right now for example, and I deposited $5,000 in USD, would they then convert that to Tether and give me $5,000 Tether instead?

So them "printing Tethers out of thin air" can some/most/all/a little of it be money from actual customers?

[lightfoot]

Me too - but there are plenty of people here from 'murica that seem not to have noticed.  Maybe they're all for freedom being sold off, I guess enough of 'em voted for....

Ok, never mind.  I will keep quiet and just be (very quietly) flabbergasted.

.....

You are not the only one.

Naah. We built the Internet over AT&T Connect (which is what the corps were pushing) and when Internet turns into AOL again, or Cable TV we will simply build a new one and hook that into the rest of the world.

I still have my UUCICO system ready to go. No biggie. In the meantime you Europeans, Asians, and whatever else (Kiwi's?) will continue to innovate and rule. Maybe we can buy a state full of slaves to hand-calculate bitcoin hashes because we can.....

C

[Torque]

It's easy and fun to look at things in hindsight, but know that you don't bet the farm on every opportunity because most do not pan out. This one did....

I'm smart enough and experienced enough to know that an opportunity like this won't come along again in my lifetime. This is the asymmetrical bet of the century.

But I'm also saying this:

If I had to start all over from zero and put the same amount into Bitcoin today, I'd do it all over again in a heartbeat. People that think they are too late have no idea just how wrong they are.

[conspirosphere.tk]

Use caution Torque. A lot of this is pure chance and us being in the right place at the right time and taking a chance. I've seen a number of people think that because they were in the right place at the right time it was due to their sooper skillz and not chance. Then they think they are super smart and lose everything an investment or two down the road because they know how to pick (stocks, companies, cars, collectibles, etc).

Indeed. I guess that most of us are about at step 9:

Life roadmap for the crypto currency enthusiast

[NUFCrichard]

I'll let you guys in on a little secret. There's a reason why the establishment continues to preach "only invest what you are prepared to lose" or "only invest 1% or less of your savings." And it has nothing to do at all with protecting you from your own stupid decision making.

It's because they know Bitcoin is literally going to go to the moon, and they don't want entire nations of people retiring early. No working = no income = no tax collecting. They desperately need to collect income taxes from everyone until your 65. Without that the whole ponzi system would collapse.

I didn't listen to them back in 2013. Now I'm retiring early.

Use caution Torque. A lot of this is pure chance and us being in the right place at the right time and taking a chance. I've seen a number of people think that because they were in the right place at the right time it was due to their sooper skillz and not chance. Then they think they are super smart and lose everything an investment or two down the road because they know how to pick (stocks, companies, cars, collectibles, etc).

It's easy and fun to look at things in hindsight, but know that you don't bet the farm on every opportunity because most do not pan out. This one did....

This is a great post. People in crypto all seem to think that they are incredibly clever for seeing the potential of Bitcoin and making money out of it.
That also means that people who invested in gold and silver are dumb because they invested their hard-earned there and have lost money over the last few years when basically everything else has gone up.

It is very important to know how big of a role luck plays in this. I have invested in some penny stocks before that have gone bankrupt. In some cases I got out at a loss, in others I held as the ship went down and I ended up with nothing.

I guess now it is important to protect what you have. If you have become rich from Bitcoin, don't piss it away on some new investment that is 'certain' to succeed.

[Torque]

I guess now it is important to protect what you have. If you have become rich from Bitcoin, don't piss it away on some new investment that is 'certain' to succeed.

Why do you think I don't piss away my Bitcoin returns on any of those shitcoins? None of them are going to become "the next Bitcoin". That's a fallacy wrapped in clever marketing. But people will fall for it anyway.

Bitcoin is the next Bitcoin.

[sirazimuth]

I'd venture to guess there will soon be a website (if not already) with a collection of "I was wrong about Bitcoin" stories
mostly written by all the various "tulip craze" type ignorant hacks (now enlightened,if you will) who penned all the
nonsense pieces listed at that bitcoinobituaries site.

[Globb0]

I guess now it is important to protect what you have. If you have become rich from Bitcoin, don't piss it away on some new investment that is 'certain' to succeed.

Why do you think I don't piss away my Bitcoin returns on any of those shitcoins? None of them are going to become "the next Bitcoin". That's a fallacy wrapped in clever marketing. But people will fall for it anyway.

Bitcoin is the next Bitcoin.

Bitcoin is the next bitcoinextragold

[flynn]

Can someone boil down this "printing Tethers out of thin air" from Bitfinex issue for me?  I understand there is real concern about this, but what is Bitfinex's side of the story?

Can some of this be legitimate (on Bitfinex's side)?

If I opened an account there right now for example, and I deposited $5,000 in USD, would they then convert that to Tether and give me $5,000 Tether instead?

So them "printing Tethers out of thin air" can some/most/all/a little of it be money from actual customers?

just google "bitfinex tether" ... hundreds of refs will fall apart

[Syke]

So them "printing Tethers out of thin air" can some/most/all/a little of it be money from actual customers?

I'm sure some is real, but without a way to audit it, it would be wise to question it.

[elg]

So them "printing Tethers out of thin air" can some/most/all/a little of it be money from actual customers?

I'm sure some is real, but without a way to audit it, it would be wise to question it.

Than this should be audited,
or can anyone explain more?

[OWZ1337]

Me too - but there are plenty of people here from 'murica that seem not to have noticed.  Maybe they're all for freedom being sold off, I guess enough of 'em voted for....

Ok, never mind.  I will keep quiet and just be (very quietly) flabbergasted.

.....

You are not the only one.

Naah. We built the Internet over AT&T Connect (which is what the corps were pushing) and when Internet turns into AOL again, or Cable TV we will simply build a new one and hook that into the rest of the world.

I still have my UUCICO system ready to go. No biggie. In the meantime you Europeans, Asians, and whatever else (Kiwi's?) will continue to innovate and rule. Maybe we can buy a state full of slaves to hand-calculate bitcoin hashes because we can.....

C

Bitcoin honeybadger doesnt care about net neutrality ~ he can send peer to peer like the satoshi whitepaper describes ! :-D weeee 20K BTCBTC merry Christmas<<<

[kurious]

Me too - but there are plenty of people here from 'murica that seem not to have noticed.  Maybe they're all for freedom being sold off, I guess enough of 'em voted for....

Ok, never mind.  I will keep quiet and just be (very quietly) flabbergasted.

You are not the only one.

I was beginning to wonder....  Net neutrality is 'meh'?!!!

[drbrockcoin]

US woman used bitcoin to move cash to Islamic State, police say

all aboard the FUD train

LOL

Meanwhile the CIA and Saudi Arabia used FIAT/I$I$ to move cash to Islamic State, fact says

[Phil_S]

I guess now it is important to protect what you have. If you have become rich from Bitcoin, don't piss it away on some new investment that is 'certain' to succeed.

After cashing in, I'm putting all into Animotion Inc. stock.

https://www.youtube.com/watch?v=u196yHvR8K8

[svdleer]

Guess some other world parts are awake. Alott of instant sell orders are placed

[fabiorem]

Luckily I'm not a normie

Are we on 4chan now?

[SecondLeoTheSecond]

Luckily I'm not a normie and never invested. I just got my coins. Good old times when Bitcoin just lay about everywhere. Only problem: explain that to your tax office.

They should love that. Initial value=0 means everything is taxable as a gain....

Some research calmed me down a bit. Guess I have to keep my feet still for a while. Everything held longer than one year is tax free here. Everything esle gets a "speculation gains tax". Quiet fair I have to say.

Luckily I'm not a normie

Are we on 4chan now?

It's been quiet a while since I've been there. Almost ten years. My oh my, those have been the times. Now I live in my wifes basement and not my moms anymore. Talk about climbing the social ladder.

[Dabs]

You do not have to claim a gift of less than $10,000 for the IRS, for every person that gives you a gift. Or some other amount called an "exclusion", which is a dollar limit per tax year.

Or you could always run a blog, with a donate button, claim all those donations as income, taxed at the proper rates.

However, I am not in the US and I am not a US person or citizen, so ... you'll have to ask your CPA / ATTY about that.