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

[julian071]

Cryptoasset Requirements Set for Release by Treasury

https://www.bloomberg.com/news/articles/2020-02-12/cryptoasset-rules-set-for-release-by-trump-administration

The Trump administration soon will announce new requirements for cryptoassets, Treasury Secretary Steven Mnuchin said.

Mnuchin told a Senate Finance Committee hearing on Wednesday that the department’s Financial Crimes Enforcement Network is preparing the announcement.

“We are about to roll out some significant new requirements,” he said without elaborating.

The Financial Crimes Enforcement Network works to prevent money laundering, terrorist financing and other financial crimes.

(Updates with Financial Crimes Enforcement Network explanation in fourth paragraph.)

"The land of the free".

[Globb0]

Their are a lot of great cars that you can buy that will actually appreciate in value, as a good investment, even including some Lambos..
Don't buy a newer Lambo whose value is falling off a cliff, buy a classic Lambo whose value is steady and going up from here..

Off the top of my head some good investment cars would be an e30 M3, Porsche 951/928.. 911s might be a bit overbought still but will hold great value..

You guys are talking about buying modern electronics packed cars that will be a maintenance nightmares destined for the crusher.. (Mercedes)
Maybe a classic Mercedes Cosworth would be a good option..  

For anything relatively new I would look into the new Corvettes.. Probably faster than them Lambos and cheaper to buy/maintain, more reliable, etc..

I don't like newer cars much though..
No way I'd sink money into a new Range Rover.. You'd probably lose more money on the rover than you would on a new Lambo..
Those things are very expensive new and depreciate like wildfire due to their incredible unreliability, always breaking..
They are owned by India's Tata and have been plagued by horrible quality control in their Chinese manufacturing..
Google "Land Rover china" (coronachan bites them recently) and then "Land Rover china quality control" to see about their recent issues..

Modern Land Rover is fine.  They make a great product and they are as reliable as any other marque.  Never thought I would say this but Tata buying them is the best thing that ever happened to them. They pumped in money and let the engineers get on with it.

Never had to deal with JLR China so can’t comment on cars built for the Chinese market.  However Chinese tastes are very different from the West.  They like big flashy cars with small price tags, which ends up with horrible underpowered boats.  Audi A5s with 1.8 litre engines - wtf?

Maybe some older car that wont die from a smart bomb?

[HairyMaclairy]

Add an electric car that runs off solar panels for when fuel supplies get cut

[kurious]

Cryptoasset Requirements Set for Release by Treasury

https://www.bloomberg.com/news/articles/2020-02-12/cryptoasset-rules-set-for-release-by-trump-administration

The Trump administration soon will announce new requirements for cryptoassets, Treasury Secretary Steven Mnuchin said.

Mnuchin told a Senate Finance Committee hearing on Wednesday that the department’s Financial Crimes Enforcement Network is preparing the announcement.

“We are about to roll out some significant new requirements,” he said without elaborating.

The Financial Crimes Enforcement Network works to prevent money laundering, terrorist financing and other financial crimes.

(Updates with Financial Crimes Enforcement Network explanation in fourth paragraph.)

So, the Federal Gov't wants to "prevent cryptocurrencies from being used as 'secret bank accounts.' "

I guess that means they want secret bank accounts to only be in dollars. Which, given the president seems to favour this personally for his loans and financial affairs, is more about just keeping the status quo in force and perhaps diverting attention from it.

If they really were dealing with the kind of money laundering that quite normally goes on (which just by the major banks activities, probably exceeds Bitcoins entire market cap over the past few years alone) then I would have no reason to question their motives.

[soxxx]

Cryptoasset Requirements Set for Release by Treasury

https://www.bloomberg.com/news/articles/2020-02-12/cryptoasset-rules-set-for-release-by-trump-administration

The Trump administration soon will announce new requirements for cryptoassets, Treasury Secretary Steven Mnuchin said.

Mnuchin told a Senate Finance Committee hearing on Wednesday that the department’s Financial Crimes Enforcement Network is preparing the announcement.

“We are about to roll out some significant new requirements,” he said without elaborating.

The Financial Crimes Enforcement Network works to prevent money laundering, terrorist financing and other financial crimes.

(Updates with Financial Crimes Enforcement Network explanation in fourth paragraph.)

So, the Federal Gov't wants to "prevent cryptocurrencies from being used as 'secret bank accounts.' "

I guess that means they want secret bank accounts to only be in dollars. Which, given the president seems to favour this personally for his loans and financial affairs, is more about just keeping the status quo in force and perhaps diverting attention from it.

If they really were dealing with the kind of money laundering that quite normally goes on (which just by the major banks activities, probably exceeds Bitcoins entire market cap over the past few years alone) then I would have no reason to question their motives.

There isnt much they can do anyway. They probably would want people to report their Bitcoin address to the government, which makes zero difference because of KYC, they have most peoples addresses. Also the good criminals would never report their addresses so its whatever.

[lightfoot]

The problem with private planes are not the planes themselves, but you need to always fly with a full tank of gas all the time.

Depends on weight and balance calculations. :-)

[lightfoot]

"The land of the free".

Hm. Same government that now uses the FBI and DOJ to reward and punish people based on political affiliation and "pull". What can go wrong with that?

[xhomerx10]

Ten four good buddies!

[sirazimuth]

Boats are really a hole in the water. Go for it if you really love fishing. I always buy a used car let someone else take the depreciation hit.

There are worse things than boats. Think "private airplane". I so want one, but such a bad idea.

Same for used cars. Never owned a new one.

Good point. I don't fly but if I was a private pilot I could see trying to swing a small private prop plane for fun. I have owned boats and never again ... I am not an avid fisherman. I have friends who live for fishing, like tarpon tournaments, it is their passion and they sink a lot of money into their hobby. Their wives feel it keeps them out of trouble, so to speak.

I can take or leave fishing. When I do fish, I like to use someone else's boat and I always chip in for the diesel. Guys who are into trophy fishing almost never use gas engines, they prefer diesel for long life and reliability in my experience. These are the guys with forty foot boats with inboard engines, not your weekend fisherman who tows a boat.

My neighbor told me the 2nd happiest day of his life was the day he bought his boat.
His happiest day was the day he sold it....

[AlcoHoDL]

Boats are really a hole in the water. Go for it if you really love fishing. I always buy a used car let someone else take the depreciation hit.

There are worse things than boats. Think "private airplane". I so want one, but such a bad idea.

Same for used cars. Never owned a new one.

Good point. I don't fly but if I was a private pilot I could see trying to swing a small private prop plane for fun. I have owned boats and never again ... I am not an avid fisherman. I have friends who live for fishing, like tarpon tournaments, it is their passion and they sink a lot of money into their hobby. Their wives feel it keeps them out of trouble, so to speak.

I can take or leave fishing. When I do fish, I like to use someone else's boat and I always chip in for the diesel. Guys who are into trophy fishing almost never use gas engines, they prefer diesel for long life and reliability in my experience. These are the guys with forty foot boats with inboard engines, not your weekend fisherman who tows a boat.

My neighbor told me the 2nd happiest day of his life was the day he bought his boat.
His happiest day was the day he sold it....

That's exactly what I wanted to write. There are two happy days in boat owners, the day they buy and the day they sell!

IMHO, when it comes to boats and planes, you need to really be RICH to afford them. It's not the cost of buying, but of maintaining. For a $1M boat or plane, I'd say (really wild guess) you need about the same amount of yearly steady income, plus several $M of savings to be able to enjoy it.

A Tesla will do for me.

[marcus_of_augustus]

I’ll just take a standard Range Rover or something & a huge house

I would suggest either a truck or an SUV like a Jeep. Something that can run over the nocoiners. Lambos (and most other lowered sports cars) are bad if they don't have any roads or any speed bumps in the way are difficult to avoid.

... i agree, when the corona apocalypse hits you'll need something bigger than a landrover to run over nocoiners

[goldkingcoiner]

Bearish RSI swing rejection on the 12H for Bitcoin and RSI bearish divergence for ETH. Are we going dump? I think we are about to dump down to 9ks.

[marcus_of_augustus]

.... and in the planes department these depreciate 'slowish'. But you need to be a proper pilot ... swings 'n roundabouts.

[Wekkel]

Bearish RSI swing rejection on the 12H for Bitcoin and RSI bearish divergence for ETH. Are we going dump? I think we are about to dump down to 9ks.

Perhaps you’re right on the short term but longer term I see this spiking to about $20-24k after we will get a larger ‘correction’ dump.

Don’t sell too early.

[OutOfMemory]

Bearish RSI swing rejection on the 12H for Bitcoin and RSI bearish divergence for ETH. Are we going dump? I think we are about to dump down to 9ks.

Honestly, i think BTC will do better than Ether. SOMA

[hodl_2015]

The Financial Crimes Enforcement Network works to prevent money laundering, terrorist financing and other financial crimes.
(Updates with Financial Crimes Enforcement Network explanation in fourth paragraph.)

If they try to make bitcoin useless for those things, does that make the value zero (so no taxes) in those situations?
Or are they promoting bitcoin for those use-cases as a valuable payment system, so it can be taxed accordingly? confused now.

[bitserve]

I was searching for stuff to support my post above sayin how lambo is a bad idea, wrote a lot about it then...

Just when I started talking of cars, I'll post 3 of my favorite cars:


Tier 3
(monster tier)
Over a lambo anyday.


Not much to say. This thing shits on lambo on any day of the week. If I ever reach the lambo levels networth, this is my lambo of choice.

What's that? Some sort of SLR? (Yeah I guess so, it looks so "different" in black...)

My "lambo" would probably be the SLR McLaren Bravus:



And no, no matter how high Bitcoin goes or how rich I ever become. I will NEVER have it. Probably I don't even *really* want it. It's so beautiful though...

[kurious]

What's with the Mercs?  I have always fancied a little second hand runabout like this...

[HI-TEC99]

I was searching for stuff to support my post above sayin how lambo is a bad idea, wrote a lot about it then...

Just when I started talking of cars, I'll post 3 of my favorite cars:


Tier 3
(monster tier)
Over a lambo anyday.


Not much to say. This thing shits on lambo on any day of the week. If I ever reach the lambo levels networth, this is my lambo of choice.

What's that? Some sort of SLR? (Yeah I guess so, it looks so "different" in black...)

My "lambo" would probably be the SLR McLaren Bravus:



And no, no matter how high Bitcoin goes or how rich I ever become. I will NEVER have it. Probably I don't even *really* want it. It's so beautiful though...

They will probably start banning petrol cars within 12 years, so your SLR McLaren Bravus wouldn't be much use in the long term.

[Gyrsur]

Ten four good buddies!

i see a slightly rise of the price. could be the bulls are waiting for some sign to start the attack on the AYH.