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

[julian071]

Is there really a country in this world where you can just cash out and nobody will even think of telling you to pay tax on your newfound wealth?

Here in NL you only pay tax on the amount you own, irrespective if it's in BTC or cash. You get taxed 1.2% over the value of all your belongings on the first of january of that year, so that's everything in cash, crypto, bank accounts minus all your debt and minus 25k euro untaxed amount. Cashing out and trading are not taxable events.

So this year I will have to pay taxes on what my stash was worth the first of january =(. Luckily the percentage is very low.

That's a weird system. Kind of like inflation or a negative interest rate on all of your net worth.

It does work like that, but it's not unreasonable imho to tax accumulated riches.

But if you look at it differently, you get a 1.2% discount if you buy a Ducati from your stash.

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[Cassius]

Is there really a country in this world where you can just cash out and nobody will even think of telling you to pay tax on your newfound wealth?

Here in NL you only pay tax on the amount you own, irrespective if it's in BTC or cash. You get taxed 1.2% over the value of all your belongings on the first of january of that year, so that's everything in cash, crypto, bank accounts minus all your debt and minus 25k euro untaxed amount. Cashing out and trading are not taxable events.

So this year I will have to pay taxes on what my stash was worth the first of january =(. Luckily the percentage is very low.

That's a weird system. Kind of like inflation or a negative interest rate on all of your net worth.

It does work like that, but it's not unreasonable imho to tax accumulated riches.

But if you look at it differently, you get a 1.2% discount if you buy a Ducati from your stash.

That's a fair point. Possibly has much the same purpose as sub-zero interest rates, i.e. discourage holding unproductive wealth.

[crypmike]

Ok guys... time to continue the game  
Where was this photo taken?

Myeong Dong

https://goo.gl/9FQyQn


Knew it looked familiar. Been there.

Right)

[El duderino_]

    

[El duderino_]

THATS THE KIND  OF MUSIC I WOULD ALWAYS BE PLAYING OUT LOUD !!!!

[El duderino_]

THANK YOU PLEASE

time for the every friday portion of LES MILLS GRITT work out, gotta stay sharp, cause when the price is gonna take of, then i do not want to miss a second........
 

[Phil_S]

I usually roll my eyes when I hear "Taxation is theft", but this?

Them wanting to tax the cash in my wallet sounds crazy to me...

Yet you guys are talking about it like it's most normal and reasonable thing.

Mind-boggling.

[Yaplatu]

At last, some Tether evidence!

https://tether.to/wp-content/uploads/2018/11/Tether-Letter.pdf

Thought they had 2 separtate accounts with 2 separate banks?  Do you have a balance statement from the other one?

The letter is linked from here
https://tether.to/tether-banking-relationship-announced/

Tether has a market cap of $1.77B, this letter confirms the bank has  $1.83B.

It's not conclusive, only a full audit would give that degree of certainty. But it's actual evidence, which is something the Tether arguments have been lacking for many months.

Bad new for Tether :

" Bank Tied to Tether Goes Quiet on Relationship With Crypto Firm " ==> https://www.bloomberg.com/news/articles/2018-11-02/bank-tied-to-tether-goes-quiet-on-relationship-with-crypto-firm

[Last of the V8s]

So Bloomberg's finest got through to a secretary who said 'no idea' and 'nunya bizniz anyways' and an article was born.

[Biodom]

In other worlds, CZ
https://www.reddit.com/r/CryptoCurrency/comments/9tewfh/binance_signs_up_40000_crypto_traders_in_its/ ...First Week in Uganda

just for kicks, see "Time traveler" report/retort.
not my opinion, but quite curios...mentions africa specifically.
https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
Something like a dystopia, which can teach us something, but what?
No disrespect, but bitcoin in Africa/Uganda would not result in anything good long term, IMHO.

Would Blockchain space in Nevada become a "Citadel"?
Or, maybe, Malta would have first dibs since it is in a nicer environment?

[jbreher]

At last, some Tether evidence!

https://tether.to/wp-content/uploads/2018/11/Tether-Letter.pdf

Yeah but...

They show a balance of about $1.8B, while Tether market cap (according to CMC) is about $2.5B.

edit: $1.8B. Mea culpa. I swear that browser tab couldn't have been more that a couple days old. Where did $700 million go overnight? Still...

For some reason, this does nothing to assuage my skepticism.

[jbreher]

WAY better than nothing. Though "portfolio cash value" is not the same as USD Fiat on deposit. It could be all on Tesla stock for what we know or any sort of high risk high yield investments.

The portfolio may even be in the form of Tether!

P.S.: Also one single signature from some UNIDENTIFIED person and not even an official bank seal..... It's almost comical when you are certifying almost 2 Billion USD.

For reals, dude.

[Last of the V8s]

At last, some Tether evidence!

https://tether.to/wp-content/uploads/2018/11/Tether-Letter.pdf

Yeah but...

They show a balance of about $1.8B, while Tether market cap (according to CMC) is about $2.5B.

For some reason, this does nothing to assuage my skepticism.

mebbe you misread
cmc vol is 2.5, cap is 1.7
dunce hat for u  

but yeah, letter schmetter

[cAPSLOCK]

Look at those Bollinger bands on the 1D and 3D charts.

[DaRude]

WAY better than nothing. Though "portfolio cash value" is not the same as USD Fiat on deposit. It could be all on Tesla stock for what we know or any sort of high risk high yield investments.

The portfolio may even be in the form of Tether!

P.S.: Also one single signature from some UNIDENTIFIED person and not even an official bank seal..... It's almost comical when you are certifying almost 2 Billion USD.

For reals, dude.

"USD Fiat on deposit" is nothing if you don't know their debts. i.e. money could've been borrowed for a day and deposited to the account short term just for the letter. Bottom line, it's most likely illegal and will always require trust in 3rd party. Those that don't know history are doomed to repeat it.

[kenzawak]

Can someone make Arthur Hayes shut up ?

https://www.ccn.com/bitcoin-price-bitmex-ceo-doubles-down-on-bear-call-says-btc-could-fall-to-2000/

CCN reported earlier this week that Hayes, a former Citigroup trader, is now predicting that the bitcoin downtrend could last another 18 months, mirroring the “nuclear bear market” the crypto industry experienced in 2014 and 2015. Writing in Friday’s edition of the BitMEX Crypto Trader Digest, Hayes doubled down on that portentous outlook.

[Hawkix]

Look at those Bollinger bands on the 1D and 3D charts.

All my charts are 2D. Not enough money for better monitor.

[julian071]

I usually roll my eyes when I hear "Taxation is theft", but this?

Them wanting to tax the cash in my wallet sounds crazy to me...

Yet you guys are talking about it like it's most normal and reasonable thing.

Mind-boggling.

Yeah I think we all just see the writing on the wall, you're not getting away from the Government taking their share especially if it has value and we all agree Bitcoins going to long term go up. I mean you can buy things directly for btc but I think vendors include sales tax in most of it. (Newegg for example)

But the tax on just your holdings fuck that including cash, no thanks. Is that some socialism bullshit that's favored there?

Paying your taxes is not socialism, it's patriotism.

Anyway I much prefer the way the taxes work in NL, no taxes whatsoever on trading including 'cashing out' (should really be called cashing in btw), just a very reasonable taxation on holdings, excluding the first 25k and minus debts. Most of the world is much worse off having all these taxable events like trading. They must all be socialist countries then I guess.

[cAPSLOCK]

Look at those Bollinger bands on the 1D and 3D charts.

All my charts are 2D. Not enough money for better monitor.

Well.. the bands are saying you are gonna see a big move one way or the other very soon.  Maybe that money is on the way?  Or maybe the bottom is about to drop out.  The weight of those two possibilities is not in the bands... it's in the fundamentals IMO.

Last time they were hanging around this width was the end of 2016.

[Biodom]

At last, some Tether evidence!

https://tether.to/wp-content/uploads/2018/11/Tether-Letter.pdf

Yeah but...

They show a balance of about $1.8B, while Tether market cap (according to CMC) is about $2.5B.

For some reason, this does nothing to assuage my skepticism.

Market cap is 1.768 bil according to CMC (checked just now).
2.5 bil is what they CAN issue, but only 1.768 bil is issued, presumably after they "burned' 0.5B in tokens recently (probably to get to the balance).