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

[Punisher13142]

How much time left in launch of bitcoin at CME? Any idea guys?

http://coincountdown.live/

Please ignore the link above - I posted it without checking and it's clearly wrong. My sincere apologies.

http://endofthegame.info/

[bitserve]

Yes, no room for the poor here.

Ponder this: Lightning network requires you to open a channel (high fees) and close a channel ( high fees ). Bob and Alice are not going to be buying coffee. I am not going to be using Lightning. I am going to pay 100-500 dollar transaction fees and buy a boat or a house or just sit on Bitcoin.

I'm not sure what country you live in, but in order to buy a boat or house you most probably will need to convert your BTC to fiat.  This transaction is liable to be a taxable event, and the government will bend you over and extract their exorbitant taxes. If you try to evade this, the will outright rape you with taxes and penalties if you get caught. If you are fortunate enough to live in a country that wouldn't tax this. Good for you.

In most countries, you don't need to convert to FIAT to be a taxable event. Even if you buy a house with Bitcoin, the purchase will be taxed at market value of both assets AND if market value of the Bitcoin used is higher than when you bought it you will also have to pay an additional tax for capital gains on the Bitcoin used. It never had anything to do with physically/virtually converting to FIAT as an intermediary step.

Otherwise, most people would use that way to never pay capital gains, always swapping assets instead.

There are things that you could buy with Bitcoin without anyone ever noticing you did (and thus the possibility to evade taxes)... houses, registered vehicles, etc are not among those.

[Vin]

How much time left in launch of bitcoin at CME? Any idea guys?

http://coincountdown.live/

Please ignore the link above - I posted it without checking and it's clearly wrong. My sincere apologies.

Maybe try this one

http://endofthegame.info/

Edit: Too late, sorry.

[milkshock100]

Gentlemen I sense an ath in the air...

[bones261]

Yes, no room for the poor here.

Ponder this: Lightning network requires you to open a channel (high fees) and close a channel ( high fees ). Bob and Alice are not going to be buying coffee. I am not going to be using Lightning. I am going to pay 100-500 dollar transaction fees and buy a boat or a house or just sit on Bitcoin.

I'm not sure what country you live in, but in order to buy a boat or house you most probably will need to convert your BTC to fiat.  This transaction is liable to be a taxable event, and the government will bend you over and extract their exorbitant taxes. If you try to evade this, the will outright rape you with taxes and penalties if you get caught. If you are fortunate enough to live in a country that wouldn't tax this. Good for you.

In most countries, you don't need to convert to FIAT to be a taxable event. Even if you buy a house with Bitcoin, the purchase will be taxed at market value of both assets AND if market value of the Bitcoin used is higher than when you bought it you will also have to pay an additional tax for capital gains on the Bitcoin used. It never had anything to do with physically converting to FIAT as an intermediary step.

There are things that you could buy with Bitcoin without anyone ever noticing you did (and thus the possibility to evade taxes)... houses, registered vehicles, etc are not among those.

Then it is even worse than I projected. Fuck the governments.

[gentlemand]

Gentlemen I sense an ath in the air...

About as common as one of my guffs these days.

[milkshock100]

It’s not enough for bitcoin to succeed.

Eth and ltc must fail as well, and btc must feast upon their rotting carcasses.

[fabiorem]

Then it is even worse than I projected. Fuck the governments.

Actually a house is not really yours. It belongs to the State. If you dont pay your taxes, they just take it and throw you out, like in a rent.

What you pay when you think you are buying a house, is a permission from the State to reside there.

[jojo69]

Gee, you nouveau riche are worse than the old money. No wonder the aristocracy always looked down upon you.

Shoo shoo. Away with you.

https://www.youtube.com/watch?v=-vXurSgwgWU

[HairyMaclairy]

It’s not enough for bitcoin to succeed.

Eth and ltc must fail as well.

Bollocks.  Theres plenty of room at the table for all.  

[Wekkel]

It’s not enough for bitcoin to succeed.

Eth and ltc must fail as well, and btc must feast upon their rotting carcasses.

"EUR and JPY must fail for USD to succeed."

Perhaps you should think this over.

[gentlemand]

Actually a house is not really yours. It belongs to the State. If you dont pay your taxes, they just take it and throw you out, like in a rent.

What you pay when you think you are buying a house, is a permission from the State to reside there.

Head to Nevada, baby. Certain bits have allodial title.

[jojo69]

Head to Nevada, baby. Certain bits have allodial title.

non transferable except for heirs

I try talking to normals about this shit and they look at me like I have mushrooms growing out of my head.

[bitserve]

Actually a house is not really yours. It belongs to the State. If you dont pay your taxes, they just take it and throw you out, like in a rent.

What you pay when you think you are buying a house, is a permission from the State to reside there.

Head to Nevada, baby. Certain bits have allodial title.

This is very interesting... Never heard about it before. It is like this in many countries or is it just a USA thing?

[gentlemand]

This is very interesting... Never heard about it before. It is like this in many countries or is it just a USA thing?

It's super, super rare. Just in small patches with legal quirks. I think some Indian reservations in the US have it too. Also some Aboriginal land in Australia. Other than that there's no way governments would permit it.

[rolling]

CME is live:

http://www.cmegroup.com/trading/equity-index/us-index/bitcoin.html

[gentlemand]

CME is live:

http://www.cmegroup.com/trading/equity-index/us-index/bitcoin.html

I have not sensed a party in my pants. When can I expect it to begin?

[HairyMaclairy]

Jan 2018: $20310.  

Seems reasonable enough

[bones261]

CME is live:

http://www.cmegroup.com/trading/equity-index/us-index/bitcoin.html

Meh. Not sure what the fuss is about these future markets. It only seems to be people gambling for or against the bitcoin price in the future with fiat and settling with fiat. No BTC is ever acquired or sold at all.

[petahashminer]

it seems they are opening long position

which is bullish ??