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

[xhomerx10]

WTF?! Somebody wants cheap coins.

edit: lol sorry, I'm watching the charts too closely.

[kurious]

snip

Buying and selling dash is not a taxable event for you? How is that?

Well I understood you pay captial gains when there is a fiat gain in value at the time when you dispose it, ie sell it for fiat. I'm in the UK. I hope I got that right. If I have to proof every single trade between Dash and Bitcoin or whatever other crypto I don't know how on earth I could even start to do that   Some exchanges I have used no longer even exist.

I sympathise, in UK too. 

Since HMRC advice is so sketchy (it goes back to a vague 2014 reference effectively saying 'we will treat it all on a case-by-case basis') we are in the dark.

I only cash out in BTC and only (originally) went in via BTC so, I am asking my accountant to simply list all fiat 'in' events and fiat 'out' events and hoping it will be just CGT.  But be aware they can see it as 'badge of trade' and charge as though it was income if they think you're a trader.

I am hoping if I cough up CGT and list only Bitcoin bought and sold and just pay up, they will accept it.

If not, I will find others here in the same position and suggest we club together to get a QC to fight HMRC - as paying 45% income tax will be too much to let pass.

I know you and I have different 'cryptos of choice' but we may end up in the same expensive boat, under the same threat of a massive tax bill.

Odds on they will just take the CGT, but if not...  Let's consider a fight - I think we can probably both afford to chip in for a legal case with others, which they won't have the staff or competence to want to bother with.

Sometimes Dashheads and Moneroans can perhaps find common cause ;-)

[kurious]

Shitpost, the author says. Not too shitty IMO.
Kind of a "Cryptmas Carol" story.
 
https://www.reddit.com/r/Bitcoin/comments/7mminl/shitpost_final_words/

Made me smile... 

[sirazimuth]

WTF?! Somebody wants cheap coins.

edit: lol sorry, I'm watching the charts too closely.

I save myself the apology and just delete  (as long as no quote... too late, lol)

[mymenace]

snip

Buying and selling dash is not a taxable event for you? How is that?

Well I understood you pay captial gains when there is a fiat gain in value at the time when you dispose it, ie sell it for fiat. I'm in the UK. I hope I got that right. If I have to proof every single trade between Dash and Bitcoin or whatever other crypto I don't know how on earth I could even start to do that   Some exchanges I have used no longer even exist.

I sympathise, in UK too.  

Since HMRC advice is so sketchy (it goes back to a vague 2014 reference effectively saying 'we will treat it all on a case-by-case basis') we are in the dark.

I only cash out in BTC and only (originally) went in via BTC so, I am asking my accountant to simply list all fiat 'in' events and fiat 'out' events and hoping it will be just CGT.  But be aware they can see it as 'badge of trade' and charge as though it was income if they think you're a trader.

I am hoping if I cough up CGT and list only Bitcoin bought and sold and just pay up, they will accept it.

If not, I will find others here in the same position and suggest we club together to get a QC to fight HMRC - as paying 45% income tax will be too much to let pass.

I know you and I have different 'cryptos of choice' but we may end up in the same expensive boat, under the same threat of a massive tax bill.

Odds on they will just take the CGT, but if not...  Let's consider a fight - I think we can probably both afford to chip in for a legal case with others, which they won't have the staff or competence to want to bother with.

Sometimes Dashheads and Moneroans can perhaps find common cause ;-)

beware the deception by gov and tax office

1) get you to admit it is an income

2) get you to admit what you use it for e.g. investment

3) then if you do not admit to any of that, they will make a determination and take your money



bitcoin is not their currency and it is ridiculous to call it income or investment

it is just your money nothing else, not your fault you have to exchange your btc into fiat to utilize goods and services, they should learn to accept your money


not your fault the exchange rate for bitcoin to fiat does not reflect what value you think it is and you have to sell it cheap




if all else fails do not forget to claim your lost coins as a loss, the value will be determined by the end financial year you decide to claim said loss

[kurious]

Try to use the Via BTC accelerator

https://pool.viabtc.com/tools/txaccelerator/

Sorry, your TXID doesn't exist  when I use accelerator.

 You have to hit that accelerator right on the hour as only 100 tx are allowed per hour.  Also it is very busy most of the time.  You might have more luck getting the tx accelerated if you have more than one person attempting to get it through.  You have one minute!

He got a confirm. 45k lost.

Damn - poor sod. There but for the grace of god....

[lightfoot]

Weller WR3

uh yeah...

that is a solid order of magnitude more money

Indeed. And while I am a true tool snob in some respects (I love snap-on tools; they never will gall a bolt or fail to grip a head and the micro-movement of their ratchets is God) I have to say the Aoyue stuff ain't bad. Their SMD soldering tweezers are a complete joke, but their irons aren't bad (but very under powered for de soldering wick) and that dopey air tool works well.

I'm counting my bitpennies now and thinking about buying a Hakko FM202 and 20203 SMD mini-tweezer set so I don't have to keep blasting 0402 sized components with air to stick them (trying to do it with an iron sucks; the things just stand up on the board and it's like aarrggh). Hakko makes good gear, but I haven't tried their air tools.

The $25k rework stations are designed to be set up to do a specific process, then turned loose with entry level people at the controls. Not something I'd be up for.

And don't forget a good pre-heater, the Aoyue 853 and 853/a are pretty good but I have had to resolder wires inside it twice. Then again I bang it around a lot on the road, so there's that.

Now on to Bitcoin: I see we're hanging around 14k. That's not bad, but not moon-worthy. Someone poke the damn badger already....

[HairyMaclairy]

Damn - poor sod. There but for the grace of god....

Indeed.  I am already thinking of some security improvements I could make.  

[sirazimuth]

Shitpost, the author says. Not too shitty IMO.
Kind of a "Cryptmas Carol" story.
 
https://www.reddit.com/r/Bitcoin/comments/7mminl/shitpost_final_words/

that was phukking epic!! thanx for sharing!

[kurious]

snip

Buying and selling dash is not a taxable event for you? How is that?

Well I understood you pay captial gains when there is a fiat gain in value at the time when you dispose it, ie sell it for fiat. I'm in the UK. I hope I got that right. If I have to proof every single trade between Dash and Bitcoin or whatever other crypto I don't know how on earth I could even start to do that   Some exchanges I have used no longer even exist.

I sympathise, in UK too.  

Since HMRC advice is so sketchy (it goes back to a vague 2014 reference effectively saying 'we will treat it all on a case-by-case basis') we are in the dark.

I only cash out in BTC and only (originally) went in via BTC so, I am asking my accountant to simply list all fiat 'in' events and fiat 'out' events and hoping it will be just CGT.  But be aware they can see it as 'badge of trade' and charge as though it was income if they think you're a trader.

I am hoping if I cough up CGT and list only Bitcoin bought and sold and just pay up, they will accept it.

If not, I will find others here in the same position and suggest we club together to get a QC to fight HMRC - as paying 45% income tax will be too much to let pass.

I know you and I have different 'cryptos of choice' but we may end up in the same expensive boat, under the same threat of a massive tax bill.

Odds on they will just take the CGT, but if not...  Let's consider a fight - I think we can probably both afford to chip in for a legal case with others, which they won't have the staff or competence to want to bother with.

Sometimes Dashheads and Moneroans can perhaps find common cause ;-)

beware the deception by gov and tax office

1) get you to admit it is an income

2) get you to admit what you use it for e.g. investment

3) then if you do not admit to any of that, they will make a determination and take your money



bitcoin is not their currency and it is ridiculous to call it income or investment

it is just your money nothing else, not your fault you have to exchange your btc into fiat to utilize services, they should learn to accept your money

Don't worry, I didn't go through:
 
All the shit, the Goxing, the seeing it slump to $152 when my average buy was four times that (and deciding to just bought MORE to average down), plus years of watching this thread every day, checking the price first thing in the morning and last thing at night, while holding a full time job down....

All that to give up on my gains that took a shit load of stress and a very thick skin just to HODL onto..? To have someone tell me I have to pay nearly half of it over - without a serious fight?

No. No. No.

I will pay 20% CGT - but a penny more and they will find out just what a determined bastard I can be.

[Arriemoller]

I just got a message from a lady I know in Georgia USA. She knows I'm into bitcoin and sent me this message. (somewhat altered to protect the innocent).

(my name), what can you tell me about Bit Coin?  I have 90,000 Venezuelan Bolivar roughly 10,000 us according to the exchange converter online... that I want to convert to Bitcoin... then use that account to pay for things in US dollars... Can you tell me how to go about that?

Any advice from any Americans here? I told here I do all my buying and selling in Sweden and have no idea how to do that in Georgia.
I did tell here to download Coinomi and to read up on the net and told here about localbitcoins (and the risk it involves).

[xhomerx10]

WTF?! Somebody wants cheap coins.

edit: lol sorry, I'm watching the charts too closely.

I save myself the apology and just delete  (as long as no quote... too late, lol)

Yeah... I figured I might have excited a few people already  It did push us over 14k on finex though (if ever so briefly)

[gentlemand]

I will pay 20% CGT - but a penny more and they will find out just what a determined bastard I can be.

I seriously doubt they'll bother asking for anything else. For them to want more you'd have to voluntarily hand over hundreds of pages nominating hundreds of trades per day. I'm sure they'll be dead pleased with the CGT windfall and leave it there.

[goggles]

Sorry for posting way off topic this morning, I was in panic mode. I know you guys are always on here, and I appreciate your help. Looks like I actually got my coins back now. (mind blown) I got on this morning to send a transaction, I was watching it on the blockchain, 2 hours later. A separate transaction appeared sending my remaining coins to unknown address. Which turns out, is one of my own hidden addresses. I know change can be sent back to hidden addresses, my understanding is it's always in the same Transaction ID though. This transaction shows on the blockchain with it's own ID but doesn't show in my wallet.

That's the first time I've ever seen a backdoor virus detected on this pc and I definitely did not turn defender off myself. Maybe that's just a coincidence and it was leading to draw the wrong conclusions. I dunno. I did a format and reinstall of windows 3 days ago because windows was reporting corrupt system files when trying to update. I've only installed programs I consider trustworthy since, so I'm really surprised to find a backdoor got on here. Anyway, think I'm going to take a nap when my blood pressure returns to normal.

[xhomerx10]

Sorry for posting way off topic this morning, I was in panic mode. I know you guys are always on here, and I appreciate your help. Looks like I actually got my coins back now. (mind blown) I got on this morning to send a transaction, I was watching it on the blockchain, 2 hours later. A separate transaction appeared sending my remaining coins to unknown address. Which turns out, is one of my own hidden addresses. I know change can be sent back to hidden addresses, my understanding is it's always in the same Transaction ID though. This transaction shows on the blockchain with it's own ID but doesn't show in my wallet.

That's the first time I've ever seen a backdoor virus detected on this pc and I definitely did not turn defender off myself. Maybe that's just a coincidence and it was leading to draw the wrong conclusions. I dunno. I did a format and reinstall of windows 3 days ago because windows was reporting corrupt system files when trying to update. I've only installed programs I consider trustworthy since, so I'm really surprised to find a backdoor got on here. Anyway, think I'm going to take a nap when my blood pressure returns to normal.

 Whew.
Still, get a Trezor.

[d_eddie]

Sorry for posting way off topic this morning, I was in panic mode. I know you guys are always on here, and I appreciate your help. Looks like I actually got my coins back now. (mind blown) I got on this morning to send a transaction, I was watching it on the blockchain, 2 hours later. A separate transaction appeared sending my remaining coins to unknown address. Which turns out, is one of my own hidden addresses. I know change can be sent back to hidden addresses, my understanding is it's always in the same Transaction ID though. This transaction shows on the blockchain with it's own ID but doesn't show in my wallet.

That's the first time I've ever seen a backdoor virus detected on this pc and I definitely did not turn defender off myself. Maybe that's just a coincidence and it was leading to draw the wrong conclusions. I dunno. I did a format and reinstall of windows 3 days ago because windows was reporting corrupt system files when trying to update. I've only installed programs I consider trustworthy since, so I'm really surprised to find a backdoor got on here. Anyway, think I'm going to take a nap when my blood pressure returns to normal.

Wheeeew!!!
Some celebration is in order, methinks. Pull out the good stuff! 

[lightfoot]

Yeah, Trezor. My only question there is what happens if they get hacked, and is there a way to run your own trezor server on your own system (so you don't every have to depend on the Trezor company to be in business)?

[svdleer]

https://www.youtube.com/watch?v=30FKrP6BrnI&feature=youtu.be

These odd transactions multiple people are reporting about today

[txtravwill]

Yeah, Trezor. My only question there is what happens if they get hacked, and is there a way to run your own trezor server on your own system (so you don't every have to depend on the Trezor company to be in business)?

They provide data/application service for the devices but never your keys.  So they could recover.  But if they did dissapear ever, you need to always write down your private key, i.e. 12 words or more so you could recover to another type of device or wallet.

[AlcoHoDL]

Yeah, Trezor. My only question there is what happens if they get hacked, and is there a way to run your own trezor server on your own system (so you don't every have to depend on the Trezor company to be in business)?

No need to worry. If the TREZOR company goes bust, just enter your seed in a Ledger. They are compatible. It's a standard. There will always be a way to get to your coins from your seed. Plus, the servers of these companies don't know (and can't know, by design) your seed or your private keys.