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

[akhjob]

HOW MUCH BITCOIN YOU NEED TO BE IN THE RICHEST 1% OF BTC HOLDERS

According to the BlockWorks Group analyst, you only need 0.28 BTC to be in the top 1% richest of the world (in BTC terms).

No more than 5-10 million people will ever own a full Bitcoin

This naturally implies an unfair uneven distribution of the wealth as “whales, hodlers, nations and institutions” hold the lion’s share.

  Bitcoin is distributed perfectly fairly based on the time, effort and passion each person put into acquiring and holding their share.  The only natural implication here is that most people ignored Bitcoin until it was too late for them to afford their "fair" share.  Do people get paid to write this tripe?

Updated OP.
I believe that you got carried away by the word "unfair". Now I have fixed it for you.

Almost everything in the world is unevenly distributed and someone will always complain that something is unfair.

The point is not about the distribution, it is about the minimum requirement of Bitcoin to be among the 1% BTC rich. The reason I shared the article is that I'm very happy that I'm close to hodling 0.28BTC and will be one of the 1% BTC rich peeps by this year or the next if Bitcoin doesn't rise parabolically. It was a 2+ year-long journey for me.

PS: Not sure if "carried away" is the apt word, but I tried. English is not my first language.

[Ibian]

Da fuck! What country are you in?!?? Never saw capital gains taxed so fucking high. That percentage is ridiculous even for regular salary income FFS!

50% income tax, give or take depending. 25% sales tax. Hidden taxes on everytyhing, not sure how much but not less than 50%. In total, 80-90% taxation.

Which is why there is no fucking way I will get off with ONLY 20% when they get around to bitcoin. States always want More.

Denmark, by the way.

From what I understand, most European countries have taxation based on country of residency. So, you should be able to get residency in 0% country, like Malaysia or Panama, stay there for a year, dump your bitcoins, then move back. All 100% legal and tax free.

Yeah, I'm actually looking into moving permanently somewhere else. It won't be an asian country, they are just too different. Either eastern europe, which I'm in the process of exploring, or failing that south america.

The real bitch of a problem in all this is to find a place where people speak proper english.

[d_eddie]

The bitcoin tax discussion is very relevant, and as bitserve says, probably not long before it becomes widespread. A few merits are due - I'll use the special ones, since the boring ones are hard to come by right now.

https://www.libremercado.com/2020-02-20/gobierno-criptomonedas-limite-bitcoiin-1276652560/

heads up seed
+1

Da fuck! What country are you in?!?? Never saw capital gains taxed so fucking high. That percentage is ridiculous even for regular salary income FFS!

50% income tax, give or take depending. 25% sales tax. Hidden taxes on everytyhing, not sure how much but not less than 50%. In total, 80-90% taxation.

Which is why there is no fucking way I will get off with ONLY 20% when they get around to bitcoin. States always want More.

Denmark, by the way.

discussion germinated
+1

Da fuck! What country are you in?!?? Never saw capital gains taxed so fucking high. That percentage is ridiculous even for regular salary income FFS!

50% income tax, give or take depending. 25% sales tax. Hidden taxes on everytyhing, not sure how much but not less than 50%. In total, 80-90% taxation.

Which is why there is no fucking way I will get off with ONLY 20% when they get around to bitcoin. States always want More.

Denmark, by the way.

From what I understand, most European countries have taxation based on country of residency. So, you should be able to get residency in 0% country, like Malaysia or Panama, stay there for a year, dump your bitcoins, then move back. All 100% legal and tax free.

this won't help bitserve much, though.
+1

[Paashaas]

- 76,188 cases worldwide and death toll rises to 2.245.

- Death toll in Iran due to the Coronavirus rises to 9. High probability that the disease has already infected numerous people in the city of Qom.

- Iranian military is shutting down major highways, roads, schools and universities, Qom goes into quarantine and lockdown.

- Iraq bans border crossings by Iranian nationals for at least 3 days.

- Kuwait bans travel by boat to and from Iran hours after Kuwait Airways announced the suspension of all flights to and from Iran.

- Seoul announces new measures: major rallies are banned, more than 3,000 social welfare facilities are closed, and so are branches of the church at the center of the Daegu outbreak. Raising country's total to 156.
  South Korea and Japan are going to get hit hard by this. At least they are being honest about the numbers.

- 544 members of South Korea's Shinchonji Daegu church have virus symptoms.

- Japan reports 3 new cases in Hokkaido, including 2 children.

- Tokyo cancels major indoor events for the next 3 weeks.

- One more doctor died of Covid19 in Wuhan, only 29 years old.

- Air Inda cancels Hong Kong, Shanghai flights untill June 30.

- Korean Air cuts additional flights until end of March.

- Thai Airways cuts flights to Asian destinations.

- Ukrainians protesting against Coronavirus quarantine hospital in their town Novy Sanzhary.

- Deutsche Post stops sending packages to China over Coronavirus.

- 13 new cases on cruise ship in Japan, raising ship's total to 634.

- South Korea's Hynix says 800 workers to stay home after trainee had contact with virus patient.

- U.S. military in South Korea bans non-essential travel to and from Daegu for soldiers, says off-installation travel will be minimized.

- Mayor of S.Korean city of Daegu urges its 2.5m people from going outside as virus cases spikes.

- China Hubei province calls not to resume working before 11 March.

- 800 workers at S.Korea chip maker Hynix quarantined.

- China is shutting down internet in Wuhan.

- Coronavirus can be found in recovered Wuhan patients.

- China car sales fall with 92%.

- The number of missing work days in China will be roughly equivalent to the entire US workforce taking an unplanned break for two months.

- 59 Hong Kong police officers has been quarantined after a fellow officer tested positive for the virus.

[jojo69]

fuck me

I think it might be time to panic guys

[Hueristic]

There will always be some form (even if informal) of governments.

And I am sure there will be basically the same type of governments before I die. So nothing will change for ME (or you) for all practical purposes.

Nothing will change until the majority believes it can change, guess who's winning?

Then that majority will be the "new" government.

Well that can be debated but its not worth the time sink until the majority can envision governing themselves then at that point we will be evolved enough to give a new method a try.

Until then new forms of governance need to be developed, a trustless one would be a nice change don't you think?

[LUCKMCFLY]

An interesting walk through history.

Satoshi on Scaling

Lightning Network bears less similarity to Nakamoto HFT than many other designs, which Satoshi would likely approve over Segregated Witness and its new concept of size.

Source: https://thedailychain.com/satoshi-on-scaling/

[serveria.com]

Da fuck! What country are you in?!?? Never saw capital gains taxed so fucking high. That percentage is ridiculous even for regular salary income FFS!

50% income tax, give or take depending. 25% sales tax. Hidden taxes on everytyhing, not sure how much but not less than 50%. In total, 80-90% taxation.

Which is why there is no fucking way I will get off with ONLY 20% when they get around to bitcoin. States always want More.

Denmark, by the way.

From what I understand, most European countries have taxation based on country of residency. So, you should be able to get residency in 0% country, like Malaysia or Panama, stay there for a year, dump your bitcoins, then move back. All 100% legal and tax free.

Yeah, I'm actually looking into moving permanently somewhere else. It won't be an asian country, they are just too different. Either eastern europe, which I'm in the process of exploring, or failing that south america.

The real bitch of a problem in all this is to find a place where people speak proper english.

Estonia could be a nice choice for you. Not far away from Denmark, quite civilized and they also offer e-residency. I'm sure you'll feel like in tax haven there after living in Denmark  

Edit: If my memory serves me well we had a WO member from Estonia here? Perhaps you could contact him for more info.

[Searing]

Just got an email from Trezor with a link to their halving blog which mostly shits on PlanBTC stock to flow model.  I've always considered the S2F strong hopium for hodlers so nothing new but nice to get level-headed approach to alternative narratives.


TLDR, S2F model shows scarcity, not demand. Price and demand historically goes up with each supply halving, how much this time, still nobody knows.

Which is why I have always said the S2F will only be valid until it isn't, and that is probably coming soon.... maybe in one year, maybe two... It is just a matter of time it reaches a price mathematically impossible to achieve. But way sooner than reaching that point it will begin to fail.

Can Bitcoin reach $100K in the next couple of years? Yes, it is a *possibility*. I don't even give it a 50/50 chance... which is a lot anyways!

Can S2F model still be valid 10 years from now? No, it simply can't.

Nice hopium though.

my mantra any particular day. notice the 'worse case scenario' is no longer BTC to zero and beanie babies...anyway..my 'mental yoga' to stay in HODL mode

(that an feeling like a BTC revolutionary and not letting the monied interests/banks/elite ultra-rich co-opt blockchain privately for their own uses)

from worst case to best case.

(1) BTC will dump to 2/3 of the current price on whatever day you use this 'BTC mental yoga" method. BTC adoption having been reached, and BTC now
goes sideways in price, a bit better as a store of value than gold and now grows modestly at best as a traditional stock market valuation would from then on.

(2) BTC will stay at whatever current price on whatever day/hour/etc you use this 'BTC mental yoga' method. BTC adoption obviously having been made and
the price from this 'current price' you look at such, as a thought experiment, will at best go sideways and now due to adoption being met as a niche market
like gold, will now grow modestly like a traditional stock market asset from then on.

(3) BTC, at the current price on whatever time/date you are thinking about BTC, has not yet met its adoption threshold, or anywhere near such, like in the
top two visions above. Thus it will do with price and adoption what BTC as a 'black swan event' has done in the past and go up 3x/9x/18x etc in both price
and use and eventual (?) full adoption and acceptance. But we are nowhere near such yet. Thus, get what BTC 'dust' you can and HODL like hell.

So, this is what wanders through my mind (1) when BTC dumps big (2) when BTC goes sideways and is in 'Meh!" mode and (3) when halving is on the horizon

(pick any halving) and the price of BTC pumps.

Anyway, how I cope with the day to day using my 'supposed' BTC mental yoga tricks above. (lame though they may be to others!)

Brad

[Icygreen]

@Paashas
I'm not seeing anything about Wuhan internet being shut down. Any links out there?

[VB1001]

Happy stop loss hunting

https://twitter.com/100trillionUSD/status/1230255806551142400

#StrongHats > Hodl: Is your friend.

[mindrust]

As somebody said above, the only way to not pay taxes is becoming rich. Sadly that is also the only way to live.

The world isn't for normies and average Joe's anymore. You are either a slave (not rich enough) or master (rich). There is no middle ground.

When you are rich enough you can still live in those well developed high tax countries without paying shit.

Get Rich or Die tryin.

[Phil_S]

Don't let them scare you into reporting you "holdings"!

Tell them NOTHING!

[estenity]

very recent paper on covid19

https://ourfiniteworld.com/2020/02/18/easily-overlooked-issues-regarding-covid-19/

[OutOfMemory]

Don't let them scare you into reporting you "holdings"!

Tell them NOTHING!

You can try. Still there is KYC at the exchanges and brokers, Fiat accounts of cryptomarketplaces are known to banks.
Localbitoins and the likes are vulnerable to be declared illegal, like mixing, and governments are working on ultimately getting rid of cash.
Way out? Anybody?

[Phil_S]

That's a different thing.
Exchanges/brokers don't ask you to provide a full list of all your assets.

[El duderino_]

A friend calling me with questions about “decentralized finance” someone knows about it ?
Dharma.io is a thing in it ..... ?? 

[mindrust]

A friend calling me with questions about “decentralized finance” someone knows about it ?
Dharma.io is a thing in it ..... ??  

Bitcoin is the decentralized finance he is looking for.

The one on Eth is vaporware.

Show him this:
https://www.theblockcrypto.com/post/56207/bzx-attacked-again-645k-in-eth-estimated-to-be-lost

[fillippone]

Good Morning WO gang!
Observing corn @9647
Observing people around you going bonkers because of first COVID-19 contagion at 60km from where they (we) live.

A few of details of this story are actually scary:

• The infected person never travelled to China
• The invected person ate a pizza one month ago (forget 14 days incubation period then) with a colleague of his who was back from China
• That particular person has no symptoms and tested negative to every check.

[ataArt]

The more enthusiasts the more likely we are to wait for what we expect ...

All have a nice day guys