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

[realr0ach]

my first BTC hoodie cost $90,000  

That's not a valid way to think of it.  Bitcoin isn't an actual store of value or anything.  Whether you want to admit it or not, it's a 'scheme'.  Either a flat out fly by night pump and dump at worst, or an imaginary token of a dysfunctional Rube Goldberg machine that will eventually collapse at best.  

Anything acquired with it is the equivalent of black looters rushing a Footlocker and trying to run out with shoes.  Some looters will get only one shoe and will have completely wasted their time.  Others will get several boxes of shoes or a 6 pack of Heineken. But you can't feel sorry for the people who didn't get as much because they were all just looters looking for free shit without working by participating in some type of scheme anyway.

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[RoomBot]

Spam faucet flooding again at 1 sat. 

I Can Haz MOAR COINZ!?111

            

Oh crap, they're sh!tcoins.


              

[RoomBot]

[snip]

Awesome contribution, but not for here.  Please start a new thread & share the link.

BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC

Understood.  It was well meaning and quite profitable but we don’t want to pollute this thread either.

As long as it's not XRP or BCH, I'm cool.

Seems i'm outnumbered and I believe in Satoshi's Code, so I'll let The People decide. 

Share away! 

[thrax]

well i sold @12800

Your entire stash ?

It’s a bit like those guys who sold their entire stash at $8 per coin because it can’t go any higher.

yeah...  when kicking myself for selling  a chunk at $1000 early last year, (lesson learned, dont listen to delusional jew haters, lol)
 I think of those that sold everything at $8, and I don't feel so bad....

The guys that sold everything at $8 probably don't feel so bad when they think of the guys that shorted at $4 and got squeezed.

People sold for $ is the only reason.

I remember shorting at $4 waiting to close the short at $3.50.

It reached $3.60 then shot up to $4.50....short squeeze.

That was with several hundred bitcoins.

[infofront]

How do you guys compute your taxes when...

You mined 1 ETH with your GPU ....

You sold 1 ETH and bought BTC ....

You held that BTC for a long time and then sold for USD ...

The 1 ETH is business income?
The BTC is considered capital gains?

In the US:
The 1 Eth mined is taxed as income.
When you trade the ETH for BTC, assuming you held the ETH for <1 year, you'd pay short term capital gains tax on the amount the ETH appreciated since it was mined.
After you sold the BTC, you'd pay long term capital gains tax on the entire amount.

[DaRude]

How do you guys compute your taxes when...

You mined 1 ETH with your GPU ....

You sold 1 ETH and bought BTC ....

You held that BTC for a long time and then sold for USD ...

The 1 ETH is business income?
The BTC is considered capital gains?

In the US:
The 1 Eth mined is taxed as income.
When you trade the ETH for BTC, assuming you held the ETH for <1 year, you'd pay short term capital gains tax on the amount the ETH appreciated since it was mined.
After you sold the BTC, you'd pay long term capital gains tax on the entire amount.

Hmm how about we throw some dates on this, this is how i understand it, but i'm not a tax professional:

1 June 2015 1 ETH mined (ETH spot price $1)
1 January 2016 sold 1 ETH for 0,01 BTC (ETH spot $10)
2 January 2018 sold 0,01 BTC (BTC spot $20000)

So first in 2015 income on mined ETH $1 is fully taxed as regular income (but can expense equipment costs and electric bills?)
2016 $9 ($10spot - $1base) is taxed at short term capital gains
2018 $190 ($200gross - $10base) is taxed at long term capital gains

[realr0ach]

After discovering this old Peter Thiel quote, I think I will now refer to bitcoin as "Thiel's Folly 2.0":

"PayPal will give citizens worldwide more direct control over their currencies than they ever had before. It will be nearly impossible for corrupt governments to steal wealth from their people through their old means, because if they try, the people will switch to dollars or pounds or yen, in effect dumping the worthless local currency for something more secure."

[infofront]

1. So first in 2015 income on mined ETH $1 is fully taxed as regular income (but can expense equipment costs and electric bills?)
2. 2016 $9 ($10spot - $1base) is taxed at short term capital gains
3. 2018 $190 ($200gross - $10base) is taxed at long term capital gains

1. Yes, and yes - you can deduct electricity and probably part of the equipment
2. Yes, if you've been holding it for 364 days or less. That's where it gets tricky though, since you might've been mining something like .02 ETH per day. Anyway, if you were holding it 365 days or more you'd pay long term capital gains on the $9.
3. Yes

[Azazel333]

Ok so I made a blockchain wallet a long time ago and have the private key. This was before the wallet supported Ethereum and Bitcoin Cash.

Will that old private key still work if I'm holding Ethereum in the wallet? I see the wallet now says "export private key" on the ethereum tab. So i was thinking it may not.

Appreciate it if anyone helps me out with this.

[realr0ach]

In soviet Russia, coin get dumped for silver or gold:

Bitcoin is a 'Project of US Intelligence,' Kaspersky Lab Co-Founder Claims

http://sputniknews.com/business/201801191060881605-kasperskaya-bitcoin-us-intelligence/

[adaseb]

Went to my local computer store to buy a new PSU. Since my 4 year old Corsair 750W is crapping out.

I look behind the counter and they got a bunch of rigs mining. I wanted to buy a PSU and they said they are not selling them without a motherboard+cpu combo.

WTF?

[jojo69]

Went to my local computer store to buy a new PSU. Since my 4 year old Corsair 750W is crapping out.

I look behind the counter and they got a bunch of rigs mining. I wanted to buy a PSU and they said they are not selling them without a motherboard+cpu combo.

WTF?

fuck 'em if they don't want your money

newegg yourself a new Seasonic and party on

[HairyMaclairy]

Ok so I made a blockchain wallet a long time ago and have the private key. This was before the wallet supported Ethereum and Bitcoin Cash.

Will that old private key still work if I'm holding Ethereum in the wallet? I see the wallet now says "export private key" on the ethereum tab. So i was thinking it may not.

Appreciate it if anyone helps me out with this.

I don’t understand the question.  You have the private key for the Bitcoin address?  If so, that’s not going to help you with the Ethereum address.   Unless you mean seed and not private key.

What are you trying to achieve? 

[HairyMaclairy]

Hmmm. 

I have so many accounts on so many exchanges I have lost a couple of Eth and have no idea where they are.  Have been looking for half an hour...  I have the outgoing TX just don’t know where it went.  I haven’t been hacked.   

[El duderino_]

Breaking 24777$ prediction game      FINAL LIST       

27/12/2017 bikerleszno
29/12/2018 cAPSLOCK 
30/12/2017 digithusiast
31/12/2017 Raja_MBZ
01/01/2018 elg
02/01/2018 wachtwoord
03/01/2018 JimboToronto
04/01/2018 d_eddie 
05/01/2018 BTCMILLIONAIRE
06/01/2018 HanvanBitcoin
07/01/2018 ghandi
08/01/2018 savetherainforrest
09/01/2018 explorer
10/01/2018 bicoinpsycho
11/01/2018 Bitcoinaire
12/01/2018 speedwheel
13/01/2018 undeadbitcoiner
14/01/2018 northypole
15/01/2018 ivomm
16/01/2018 maca068
17/01/2018 bitcoinvest
18/01/2018 last of the v8s
19/01/2018 mfort312
20/01/2018 1982dre
21/01/2018 flamast2
22/01/2018 RealMachasm
23/01/2018 willope
24/01/2018 kartala
25/01/2018 orpington
26/01/2018 rolling
27/01/2018 LFC_bitcoin
28/01/2018 jojo69
29/01/2018 CristiTCM
30/01/2018 rayX12
31/01/2018 realsteelboy
01/02/2018 twocorn
02/02/2018 mancroofer
03/02/2018 True Myth
04/02/2018 poolminor
05/02/2018 itod
06/02/2018 scheptan
07/02/2018 vapourminer
08/02/2018 alexeft
09/02/2018 siera
10/02/2018 AlcoHoDL
11/02/2018 Dunkelheit667
12/02/2018 yonton
13/02/2018 Wekkel
14/02/2018 Thekool1s
15/02/2018 starmman
16/02/2018 Globb0
17/02/2018 leveldkrypto
18/02/2018 olesh
19/02/2018 BitCoinBurger
20/02/2018 Paashaas
21/02/2018 flynn
22/02/2018 icygreen
23/02/2018 erisdiscordia
24/02/2018 phil_s
25/02/2018 sirazimuth
26/02/2018 Arriemoller
27/02/2018 yonton
28/02/2018 Muttley
01/03/2018 bones261
02/03/2018 heater
03/03/2018 soullyG
04/03/2018 InvoKing
05/03/2018 Notme
06/03/2018 sa_94
07/03/2018 NUFCrichard
08/03/2018 Imbatman
09/03/2018 Roombot
10/03/2018 STT
11/03/2018 badream
13/03/2018 erre
14/03/2018 julian071
15/03/2018 podyx
17/03/2018 fragout
18/03/2018 fabiorem
21/03/2018 dakustaking76
23/03/2018 nikauforest
31/03/2018 vroom
01/04/2018 somac.
02/04/2018 kurious
04/04/2018 fluidjax
05/04/2018 bitcoinbunny
08/04/2018 tyler1890
10/04/2018 ludwigvon
11/04/2018 hairymaclairy
16/04/2018 practicaldreamer
18/04/2018 free-bit.co.in
27/04/2018 drbrockoin
01/05/2018 sprinkles
02/06/2018 oblox
07/07/2018 IntroVert
03/08/2018 toxic2040
28/08/2018 bitserve
15/10/2018 Yefi
05/11/2018 mikenz
31/12/2018 melman2002
01/01/2019 Spaceman_Spiff_Original
12/02/2019 FractalUniverse
21/04/2019 gentlemand
20/02/2020 romneymoney
18/12/2021 luckygenough56

UPDATE     AND GOOD LUCK

[Last of the V8s]

Proof of Curl is Fyffe's true vision. It says so right there in the yellow paper.
Proof of Bend actually gets less of those lovely 'nanas per box and they ripen too quickly. It's just another Del Monte corporatist takeover bid.
#bananacoin #keepthecurl #fyffedidntrapethatwoman

[HairyMaclairy]

Holy fuck 30 sat transactions being mined.

Coinbase must have adopted batching + Segwit and not told anyone.

[explorer]

Holy fuck 30 sat transactions being mined.

Coinbase must have adopted batching + Segwit and not told anyone.

only 105k unconfirmed tx.   

[somac.]

Holy fuck 30 sat transactions being mined.

Coinbase must have adopted batching + Segwit and not told anyone.

only 105k unconfirmed tx.   

Yes but a lot of them are spam, so that's no problem. Spam should always remain unconfirmed if possible.

[explorer]

Holy fuck 30 sat transactions being mined.

Coinbase must have adopted batching + Segwit and not told anyone.

only 105k unconfirmed tx.   

Yes but a lot of them are spam, so that's no problem. Spam should always remain unconfirmed if possible.

Beats 300k, regardless of composition.