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

[VB1001]

OpenNode > for Roger Ver

Thanks for the $1.25MM offer @rogerkver, but we’re going to have to turn it down. Our vision of a better, more open financial system is only possible with Bitcoin.

https://twitter.com/OpenNodeCo/status/1079180653416103941

Answer of Roger Ver:

"only possible with Bitcoin." 
That's tribalism, not thoughtfulness.

https://twitter.com/rogerkver/status/1079394075730571265


This person has neurons, just to walk.


(OpenNode https://bitcointalk.org/index.php?topic=178336.msg48790638#msg48790638 )

[HairyMaclairy]

Is this article correct?

I would have thought that you could carry forward capital losses to offset against future capital gains without being subject to a $3000 cap.  

It depends on the country. There are limits on:

- How much you can compensate each year
- How many years do you have to compensate the remaining.
- Against what can be compensated and against what it can't.
- etc

And also requirements like:

- How many time it has to pass between the sell and the re-buy or you can't compensate anything.
- etc

It also changes if you are an individual person, a person acting as a business, or a corporate, etc...

etc etc...... #DYOR #AskYourLocalFinancialExpert

This post does not constitute financial advise blah blah blah

In USA the 3000 cap is only on ordinary income(mainly of wages, salaries, commissions and interest income (as from bonds or cds). There is absolutely no cap or limit to how much you carry forward capital losses to offset capital gains and you can carry it forward for as long as you live. Loss harvesting is a huge part of the plunge to the end of the bear market we just witnessed. Large amounts of investors did take some profits in 2018 after the epic rise. These profits were capital gains and so they of course would owe taxes on them in 2019. Now its not hard to imagine tons of people taking a lot of profits like Boblaw and Jimbo early in 2018 and then later seeing prices much cheaper than where they sold out at. So at some point they buy some coins back cheaper than they sold, but still owe taxes come 2019. Now fast forward to the end of 2018 and these investors see the coins they bought back cheaper have lost substantial value, they understand that US wash sale rules do not apply to crypto https://cryptotaxprep.com/wash-sales-what-every-bitcoin-investor-should-know/ so it becomes very attractive for them to sell the coins at a loss with the intent to quickly repurchase them so they have the same amount of coins but a lower tax burden for 2019. However due to the economic substance doctrine https://en.wikipedia.org/wiki/Economic_substance in US tax law an investor should wait a day or two to repurchase the coins or the IRS can challenge it(disallow the loss) and say the transaction had no economic substance other than to lower their tax burden. If you wait a few days you have exposed yourself to market risk and are not violating the economic substance doctrine because your transaction had the intent of making profit in of itself and you took the risk of losing. So now imagine investors selling late in the year around 6k with the intent to buy back a few days or weeks later and this triggers a break in 6k support. Well now the tax loss harvesters are in no rush to buy back bc they can get way more coins than they started with bc coins have dropped massively so they sit back and let it play out. As it plummets you have people that bought in at 6k are reading the many msm articles about loss harvesting
 like this one https://www.forbes.com/sites/tysoncross/2018/11/19/year-end-tax-tips-and-strategies-for-cryptocurrency-investors/#5f87275a5dda and realize they too can harvest losses by selling at 5k, 4k, 3.5k etc, so they now sell fueling the fast cascade down. Then when it gets to around 3k the earliest tax loss harvesters say "well shit, lets not be too greedy here, I can get double the coins I had originally and save a ton on taxes." And that is how we find ourselves in a brand new bull market at the very end of loss harvesting season. Loss harvesters only have a handful of hours left to sell cheap and realize a loss. https://www.timeanddate.com/countdown/newyear

Happy New Years!

Believe in The Bull and 100k will come. (or dont believe and short and it will come anyway and rekt you!)
The ancient philosopher Jesus spoke of the powerful drug Hopium and its benefits in his teachings.

Matthew 17:20 Jesus said unto them "Because you smoke so little Hopium. Truly I tell you, if you smoke enough Hopium as small as a mustard seed, you can say to this mountain, 'Move from here to there,' and it will move. Nothing will be impossible for you."

Thank you for your thoughtful response - that is exactly what I was looking for (a good explanation of the US system). 

[mennguyen]

Reference data: Bitcoin Price Prediction For Tomorrow, Week And Month
Date                Min        Max        Price
2019-01-01    $3563    $4099    $3831
2019-01-02    $3847    $4427    $4137
2019-01-03    $3647    $4195    $3921
2019-01-04    $3680    $4234    $3957
2019-01-07    $3646    $4194    $3920
2019-01-08    $3317    $3817    $3567
2019-01-09    $3467    $3989    $3728
2019-01-10    $3613    $4157    $3885
2019-01-11    $3421    $3935    $3678
2019-01-14    $3742    $4306    $4024
2019-01-15    $3791    $4361    $4076
2019-01-16    $3975    $4573    $4274
2019-01-17    $4305    $4953    $4629
2019-01-18    $4358    $5014    $4686
2019-01-21    $4324    $4974    $4649
2019-01-22    $4254    $4894    $4574
2019-01-23    $4059    $4669    $4364
2019-01-24    $4161    $4787    $4474
2019-01-25    $4085    $4699    $4392
2019-01-28    $3901    $4489    $4195
2019-01-29    $4070    $4682    $4376
2019-01-30    $4014    $4618    $4316
2019-01-31    $4183    $4813    $4498

Happy New Year 2019!
We wish everyone good luck in the new year!
Hopefully 2019 bitcoin is priced above $ 15,000!

[DeathAngel]

Happy New Year gentlemen! Hope we consolidate above 7k or 8k in 2019, I’d see thst as a successful year. I think we may have to wait until 2020 to see above 10k again.

[xhomerx10]

Okay guys, there seems to be some misunderstanding with respect to paper wallet security.  Now, the misunderstanding might lie with me or it might lie with you so I am putting some Bitcoin on the line here as a test.  If you are correct, it should be as easy as 123 to steal the .0123 Bitcoin I have secured on this paper wallet.  If I am correct, then I can relax.

My fully exposed paper wallet:



Go 4 IT!  I will monitor the balance.

[DeathAngel]

Okay guys, there seems to be some misunderstanding with respect to paper wallet security.  Now, the misunderstanding might lie with me or it might lie with you so I am putting some Bitcoin on the line here as a test.  If you are correct, it should be as easy as 123 to steal the .0123 Bitcoin I have secured on this paper wallet.  If I am correct, then I can relax.

My fully exposed paper wallet:



Go 4 IT!  I will monitor the balance.

You’ve exposed your private key, somebody will just sweep the balance, surely?

[xhomerx10]

Okay guys, there seems to be some misunderstanding with respect to paper wallet security.  Now, the misunderstanding might lie with me or it might lie with you so I am putting some Bitcoin on the line here as a test.  If you are correct, it should be as easy as 123 to steal the .0123 Bitcoin I have secured on this paper wallet.  If I am correct, then I can relax.

My fully exposed paper wallet:



Go 4 IT!  I will monitor the balance.

You’ve exposed your private key, somebody will just sweep the balance, surely?

 I shall consider it a cheap lesson if that's the case.

[DeathAngel]

Okay guys, there seems to be some misunderstanding with respect to paper wallet security.  Now, the misunderstanding might lie with me or it might lie with you so I am putting some Bitcoin on the line here as a test.  If you are correct, it should be as easy as 123 to steal the .0123 Bitcoin I have secured on this paper wallet.  If I am correct, then I can relax.

My fully exposed paper wallet:



Go 4 IT!  I will monitor the balance.

You’ve exposed your private key, somebody will just sweep the balance, surely?

 I shall consider it a cheap lesson if that's the case.

I can’t even be bothered for that kind of amount but that’s exactly what somebody will do.

[Ibian]

Private key==bitcoin.

I... am confused as to why anyone here would be confused about this?

[DeathAngel]

Private key==bitcoin.

I... am confused as to why anyone here would be confused about this?

It’s still there

Somebody is definitely going to steal it.

[xhomerx10]

There are too many trustworthy individuals here; my test results are going to be totally skewed.  

[xhomerx10]

Private key==bitcoin.

I... am confused as to why anyone here would be confused about this?

It’s still there

Somebody is definitely going to steal it.

 I have posted it for anyone to take - that's not stealing, it's recycling.

[Totscha]

Private key==bitcoin.

I... am confused as to why anyone here would be confused about this?

It’s still there

Somebody is definitely going to steal it.

It's a BIP38 password encrypted paper wallet. Impossible to sweep without knowing the password...

[ðºÞæ]

Paper wallets are great and better than Ledger and co, but two issues: Water and Fire.
Metal wallets like;
 https://cryptosteel.com/ or
 https://bitkee.com/ or make your own dog tag
 https://www.amazon.com/punch-set-numbers/s?page=1&rh=i%3Aaps%2Ck%3Apunch%20set%20numbers
is the best choice in my opinion.

[sam_ti_dyatel]

Happy New Year crypto enthusiasts and roach!
https://coub.com/view/1kdmw2

[Torque]

You guys do realize that 99% of normies coming into Bitcoin are going to just buy their coin on sites like Coinbase or Gemini and leave them there?

And with all this back and forth debate about the "right" personal coin security, and the pitfalls if you get it "wrong", who could blame them. 

[Raja_MBZ]

Okay guys, there seems to be some misunderstanding with respect to paper wallet security.  Now, the misunderstanding might lie with me or it might lie with you so I am putting some Bitcoin on the line here as a test.  If you are correct, it should be as easy as 123 to steal the .0123 Bitcoin I have secured on this paper wallet.  If I am correct, then I can relax.

My fully exposed paper wallet:



Go 4 IT!  I will monitor the balance.

At first, I thought that was something like a "New Year Present", until the moment I realized that the private key begins with "6P"...

[xhomerx10]

Paper wallets are great and better than Ledger and co, but two issues: Water and Fire.
Metal wallets like;
 https://cryptosteel.com/ or
 https://bitkee.com/ or make your own dog tag
 https://www.amazon.com/punch-set-numbers/s?page=1&rh=i%3Aaps%2Ck%3Apunch%20set%20numbers
is the best choice in my opinion.

 Those are great options.
I bought some Revlar^tm from DaveF a while ago for paper wallets.  It's a sort of tear-resistant and waterproof paper you can use in a laserjet printer.  
While I know it's not the perfect solution I also bought a small fire-proof safe for storing important papers as well.

[itod]

Private key==bitcoin.

I... am confused as to why anyone here would be confused about this?

It’s still there

Somebody is definitely going to steal it.

It's a BIP38 password encrypted paper wallet. Impossible to sweep without knowing the password...

+1, Your funds are safe as long as you remember the passphrase.

[Raja_MBZ]

Private key==bitcoin.

I... am confused as to why anyone here would be confused about this?

It’s still there

Somebody is definitely going to steal it.

It's a BIP38 password encrypted paper wallet. Impossible to sweep without knowing the password...

+1, Your funds are safe as long as you remember the passphrase.

IMO, keeping a BIP38 password makes your paper wallet less secure. There's a good chance that you'll forget that phrase by the time you need to extract bitcoin out of your paper wallet.

Compare the probability of getting your piece of paper stolen and the probability of forgetting the password; there are more chances that you'll forget your password!