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

[Biodom]

Capital Gains tax holiday

https://americanindependent.com/larry-kudlow-tax-cuts-coronavirus-stimulus-donald-trump-economy-capital-gains-covid-19/


Step 1: Cash out all bitcoin on Capital Gains tax holiday
Step 2: Buy all bitcoin back the next day.
.
.
Step 4: Pay capital gains only on the price at current levels instead of on $100/BTC.

As much as I like that law at first glance it would CRUSH markets.  Decimate them.

They should let each investor do it on their birthday.

yea, cap gains tax holiday is impossibru...

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[Hueristic]

Well i didn't say shoot him, if he knew about coinbase and still used them, then it should be an automatic death sentence. As far as 5 wires, would make sense to limit 3rd party exposure, but looks like he kept the coins on coinbase so yeah, jail him

I would lend my support to driving a steam roller with spiky wheels 119 times over his face.

118 sure, but 119 just seems excessive.

[lightfoot]

Capital Gains tax holiday

https://americanindependent.com/larry-kudlow-tax-cuts-coronavirus-stimulus-donald-trump-economy-capital-gains-covid-19/


Step 1: Cash out all bitcoin on Capital Gains tax holiday
Step 2: Buy all bitcoin back the next day.
.
.
Step 4: Pay capital gains only on the price at current levels instead of on $100/BTC.

This would be God-like. Technically you could cash out, buy the coins the next day, then renounce your citizenship and pay not a fucking whit!

[lightfoot]

Market sensitive news:

*Moderna CV19 Vaccine Produced Antibodies in All Patients Tested*

-Moderna Inc.’s Covid-19 vaccine produced antibodies to the coronavirus in all patients tested in an initial safety trial, federal researchers said.
The neutralizing antibody levels produced were equivalent to the upper half of what’s seen in patients who get infected with the virus and recover
-The Moderna vaccine is one of the farthest along for Covid-19.
-Final-stage trial of RNA vaccine slated to start on July 27th

2 possible caveats :
-the initial trials hint at substantial side effects
-the sample was only made of patients who are from age 18 to 55.

This is good!

[CryptoYar]

1h




https://www.coingecko.com/en/coins/bitcoin/usd#panel

[jbreher]

jbreher likes to pump them up too, I wonder why that is?    He might want to chime his picnic bear ass into the mix, as well.    

He tends to support centralization and trusted third partys for some unknown reason.
Makes me wonder sometimes why he supports bitcoin?

Examples would be helpful in buttressing your claim.

You support Coinbase and BSV, do I really need to add anything more than that?

Yes, you do. Coinbase as opposed to what? Binance? BitFinex?

BSV as opposed to what? BTC? From a fundamental analysis they are exactly as centralized as each other.

Kraken and Gemini

In what manner are Kraken or Gemini more decentralized than Coinbase?

Why do BSvers always try to redefine the definition of decentralization? Are there no arguments you can come up with that don't require redefining meaning of words?

What the fuck are you babbling about now? As you seem to be accusing me of redefining 'decentralization', perhaps you might be so kind as to provide me with your personal definition thereof.

Umm the decentralized part was referring to BTC vs your scamcoin, and not the exchanges. The exchanges were suggested as alternatives to Coinbase, seems like everyone got that part except for you.

Still waiting for your:
1) explanation of how Coinbase suffers more as being a trusted third party than is Kraken or Gemini; and
2) personal definition of 'decentralization', so we may continue this discussion in a rational manner.

Wow.   Maybe we should have a poll on the topic jbreher?

Knock yourself out, though I don't see the relevance.

You summoned me indicating I like to 'support' coinbase.
Hueristic suggested it is because i like centralization and trusted third parties.
I pointed out that Hueristic's assertion was without merit.
Hueristic doubled down by conflating BSV with Coinbase.
I asked for an elaboration, as all exchanges are by definition centralized third parties, and that the BTC and BCH protocols are exactly as centralized as each other.
DaRude butted in in his/her typical clueless manner with 1) 'Kraken and Gemini', seemingly utterly ignorant of the fact that both these are also centralized trusted third parties; and 2) piled on implying I was changing the definition of decentralization.
I responded 1) asking how Kraken or Gemini are less centralized than Coinbase; and 2) asked for his/her definition of 'decentralization'.
DaRude then totally whiffed an answer, addressing neither of the points in discussion.
I responded pointing out that DaRude has addressed exactly zero of the points in discussion.
And full circle, you wade back in with irrelevancy about some poll.

That about sum it up? Yup, shore duz.

So after all that, to the point of you summoning me: yes, for my purposes, Coinbase is the proper exchange for me. Yes, it is a centralized trusted third party. AS IS EVERY FUCKING OTHER EXCHANGE.

As to the other topic somehow conflated in with the other. Yes, I understand that a good lot of you ascribe to the dogma that lotsa lotsa non-mining fully-validating clients equates to MOAR DECENTRALIZATION. Regardless of the relative amount of decentralization on any of a large number of other axes. And that lotsa lotsa minus one means that the entire system is in peril. You are of course wrong on both counts, but I get that all y'all think so. My point here is not to argue about that. It is to point out that your measure of centralization has fuck-all to do with any technical aspect of the coin/chain/client/code. It merely reflects the preferences of the market at this point in time, which is nothing more than the individual personal preferences of scads of individuals within the marketplace at this point in time.

Y'all are acting high and mighty about a state that is not due to anything fundamental, but rather due to collective whimsy.

So now that ONCE AGAIN, I have been incrementally goaded into stating my position AGAIN, lest idiots be allowed to put words in my mouth, are ya happy?

Didn't think so.

[jbreher]

jbreher likes to pump them up too, I wonder why that is?    He might want to chime his picnic bear ass into the mix, as well.    

He tends to support centralization and trusted third partys for some unknown reason.
Makes me wonder sometimes why he supports bitcoin?

Examples would be helpful in buttressing your claim.

You support Coinbase and BSV, do I really need to add anything more than that?

Yes, you do. Coinbase as opposed to what? Binance? BitFinex?

BSV as opposed to what? BTC? From a fundamental analysis they are exactly as centralized as each other.

Kraken and Gemini

In what manner are Kraken or Gemini more decentralized than Coinbase?

Why do BSvers always try to redefine the definition of decentralization? Are there no arguments you can come up with that don't require redefining meaning of words?

What the fuck are you babbling about now? As you seem to be accusing me of redefining 'decentralization', perhaps you might be so kind as to provide me with your personal definition thereof.

Umm the decentralized part was referring to BTC vs your scamcoin, and not the exchanges. The exchanges were suggested as alternatives to Coinbase, seems like everyone got that part except for you.

Still waiting for your:
1) explanation of how Coinbase suffers more as being a trusted third party than is Kraken or Gemini; and
2) personal definition of 'decentralization', so we may continue this discussion in a rational manner.

Coinbase is [...]

The topic on the table, DaRude, is not the ways Coinbase is evil, with the sole exception of them being centralized and trusted third parties. Stick to the goddam topic, ya ninny.

As far as centralization, see, it's a common knowledge that BTC is more decentralized than BSv...

Lacking a common definition of 'decentralization', no. It is not 'common knowledge', as these aspects depend upon what the meaning of decentralization is.

Seeing as you are too pea-brained to even have a definition which allows your brain to classify things along a decentralization spectrum, I suggest that 'you're outta your element, Donnie', and you may as well forfeit the discussion.

[jbreher]

So I have tried a few times to download the Coinbase app needed to sign up for the Coinbase debit card. Each time I get "This is not supported in your country".

I use a VPN to set my IP in the US so is it not supported in the US? Or is it somehow detecting that I'm really in Panama?

Also, I finally got around to filing my extortion papers for the IRS.

Getting married helped keep me from needing to pay any taxes.

Land of the free...where you have to file your taxes even if you haven't stepped foot in the country all year.

You could renounce your citizenship, but you may well be anticipating getting some income such as social security or maybe you are receiving some other pension, which makes it a BIGGER trade off to renounce.

I am not saying that I agree with world-wide income taxation, and surely there are trade-offs with any system whether we are referring to taxation or other matters of figuring out if you get benefits or will get benefits in the future.   Sure, you likely subscribe to one of those libertarian views, and you have already admitted to it, and sure I have issues with libertarians trying to spin matters with out accounting for how to deal with various public goods, but you surely did not start your propounding of libertarian ideas in your teenage years, so you have some issues with your having had made too many USA connections in terms of either prior employment or your desires to return to the USA or to travel around the world with a USA passport causing you to be unwilling to renounce your citizenship.. because it will likely cost you more than what you are willing to admit to because you want to spin the taxation matter in one direction (sure we all have concerns about taxation how their spent and from whom they are collected).

To renounce my citizenship would require paying taxes on the total value of all of my bitcoin holdings as if I sold them the day I renounced. The thought of the amount of brown skinned people in far off lands who's skin will be burned off using my money does not sit well with me.

My thought is that the US will collapse in the next few years so it is not necessary to renounce my citizenship. US citizenship will cease to exist. Then I can just not sign onto the America 2 (the electric boogaloo) citizenship.

But not to worry. I filed this year so when you leave your house in the morning there will be roads.

Would relocating to Puerto Rico be an option, or got to pay taxes when leaving mainland either way?

Becoming a PR resident has significant tax benefits. Unique ones at that. But you'd still be a citizen of the USA. And subject to all that entails. Only one of which is Congress' ability to rescind the special tax exemption granted to -- only to -- residents of PR.

Seeing as there is new active discussion about rescinding the Jones act, this may open up a host of new considerations there.

[El duderino_]

ICYMI: US housing market perfectly fits Stock to Flow Cross Asset Model (S2FX) with S2F95 and $33.6T market value. h/t @harrigan_pete
medium.com/greyswandigita…
https://twitter.com/100trillionusd/status/1282972307921580032?s=21

[Phil_S]

meh...

[Biodom]

PR deal is not that exciting..there is time limitation (2035 or something like that), a need to be there physically 183 days each year, the possibility of a law change, the fact that it does not apply to gains that you already have, etc, etc.

[Cryptotourist]

And yes, collusion between three miners is sufficient to amass 51% hashpower on the BSV network today. While such collusion on the BTC network would require the astronomically higher number of four.   

Struggling with this one jb.

Calvin, Craig and the leading BSV dev makes three. Sure.
But four!? You mean pools?

Also there is that cost thingy...

[DaRude]

jbreher likes to pump them up too, I wonder why that is?    He might want to chime his picnic bear ass into the mix, as well.    

He tends to support centralization and trusted third partys for some unknown reason.
Makes me wonder sometimes why he supports bitcoin?

Examples would be helpful in buttressing your claim.

You support Coinbase and BSV, do I really need to add anything more than that?

Yes, you do. Coinbase as opposed to what? Binance? BitFinex?

BSV as opposed to what? BTC? From a fundamental analysis they are exactly as centralized as each other.

Kraken and Gemini

In what manner are Kraken or Gemini more decentralized than Coinbase?

Why do BSvers always try to redefine the definition of decentralization? Are there no arguments you can come up with that don't require redefining meaning of words?

What the fuck are you babbling about now? As you seem to be accusing me of redefining 'decentralization', perhaps you might be so kind as to provide me with your personal definition thereof.

Umm the decentralized part was referring to BTC vs your scamcoin, and not the exchanges. The exchanges were suggested as alternatives to Coinbase, seems like everyone got that part except for you.

Still waiting for your:
1) explanation of how Coinbase suffers more as being a trusted third party than is Kraken or Gemini; and
2) personal definition of 'decentralization', so we may continue this discussion in a rational manner.

Coinbase is [...]

The topic on the table, DaRude, is not the ways Coinbase is evil, with the sole exception of them being centralized and trusted third parties. Stick to the goddam topic, ya ninny.

As far as centralization, see, it's a common knowledge that BTC is more decentralized than BSv...

Lacking a common definition of 'decentralization', no. It is not 'common knowledge', as these aspects depend upon what the meaning of decentralization is.

Seeing as you are too pea-brained to even have a definition which allows your brain to classify things along a decentralization spectrum, I suggest that 'you're outta your element, Donnie', and you may as well forfeit the discussion.

jbreher you feeling alright? you were the one who put up the claim that some shitcoin, who's market cap is less than bitcoin's daily volatility, is as decentralized as BTC, and then you're asking me to define decentralization? No one asked you, you laid a claim, man up, and explain your position and at least try to back it up with some metrics if you want to be taken seriously. Like i said, claiming that earth is flat and then asking us to define flatness, and then questioning said definition taking into the account spacetime continuum won't fly here, we're not noobs. I'll entertain a troll but i won't feed him

[Paashaas]

2e accumulation phase will end in 3....2.....1.....

[Globb0]

Does this sound familiar?

People who talk at places like "Harvard" or maybe "Oxford university"

https://www.youtube.com/watch?v=UwftRRc7EbI&fbclid


But its all a big fraud, not really at the place it pretends to be.


All the audience are also only there for their own "Marketing material"


Fraud people

[ivomm]

Since there is nothing interesting happening rn, I would like to recall the most amazing predictions ever made about the near future of Bitcoin. The year was 2015, the price was around $200 and a guy on reddit posted this:
https://www.reddit.com/r/Bitcoin/comments/2y97hl/the_next_bubble_the_10k_25k_one_will_be_epic_and/?sort=new

It is as if he had a crystall ball. The price developed precisely the way he predicted it. Although he expected a top 25K and crash to 2K at the end of 2016, this was not far from what happened in 2017. Check out the comments below. Practically everyone behaved like a troll dissing his arguments.  Here are some of them:

----------
most coins on exchanges are just buy and sold after a 10% rise. Yes a huge buy order can kill the bots and start a rally, but at 2000 Eur everyone will be dumping like there's no tomorrow. btc is not like a stock, it's issued daily, hourly! that's a few millions per day.

The rise to $1200 was probably due to a highly illiquid market and dysfunction at mtgox.

Higher valuation leads to higher money supply in purchasing power terms. The current 3600 new BTC mined per day will need to be matched by demand at the higher valuation. I suspect things will get more interesting after a couple more reward halvings, at which time the annual BTC inflation rate will be very much lower than currently.

"the next bubble is virtually assured at this point" No it's not.

"We saw the bottom come in at $150" We have no idea if that was the bottom.

" end of the latest bear run." No one knows that.

"exponential expansion" Speculation.

"$2000, $4000.... $5000, $7000. "

"We may get all the way to $28k before the major correction"

"The next bitcoin bubble (due before the end of 2016)" Sure it is.

10k per bitcoin? such lol. Never going to happen dude. And I'm a Bitcoiner all through.

$300 this year would be a stretch.

Not going to happen. The big wave of new users are going to be poor people, who have to buy satoshi's worth of bitcoin. They are going to push the price up slowly. I think it will take over 20 years.
The price is far more likely to go below $100 than ever hit the numbers you mention.

Do you have any idea about the downward pressure on the price today, and how much stronger that pressure becomes tomorrow?

Sorry but I don't ever see another bubble in Bitcoins future. If the price is bound to go up like you say, then it will do so ever so slowly like we're seeing now

-------------

A similar prediction can be made today if we just multiply the numbers by 10. May be the year won't be 2022 but 2023 or 2024 and the top 180K instead of 250K. The general principles of the mass adoption are still valid. There is nothing exceptional about the last ATH at $20K, so it is highly probable that it will be significantly improved in the next years. I have to admit that I give little chances for $100K in the next 2-3 years, because of the current situation. But it is better to be prepared for such a scenario and not getting overly excited at prices $40K-50K and sell everything. This guy predicted also that everyone will expect the bull run to end below 5K, but the opposite will happen. Yeah, a lot of food for thought... I personally may sell up to 66% of my stash at this range $40K-50K but with the option either to buy back lower or to buy a real estate in a prestige sea resort. It depends on the time. My main motivation for hodling is this purchase, so I won't be sad if I will miss bigger profits in a more distant future. Besides, the possible profit of some future sell of that estate would be between 3x and 5x depending on the deal I make. But that's for me. For most hodlers, it is better to sell a smaller part of their stash. And of course, to plan a boating trip before the main sell

[El duderino_]

^The beautiful thing about BTC is it’s unpredictability.... maybe a top will come already this year maybe next or maybe the year after ....

Meanwhile, the dude will HODL and do some boating

[Last of the V8s]

^The beautiful thing about BTC is it’s unpredictability.... maybe a top will come already this year maybe next or maybe the year after ....

Meanwhile, the dude will HODL and do some boating

Yah well do be careful with that. Boating. Tough on wallets, tough on the hodler of wallets.

[LFC_Bitcoin]

^The beautiful thing about BTC is it’s unpredictability.... maybe a top will come already this year maybe next or maybe the year after ....

Meanwhile, the dude will HODL and do some boating

Yah well do be careful with that. Boating. Tough on wallets, tough on the hodler of wallets.

We’ve seen too many lose their bitcoin’s at sea in recent years  

[Last of the V8s]

^The beautiful thing about BTC is it’s unpredictability.... maybe a top will come already this year maybe next or maybe the year after ....

Meanwhile, the dude will HODL and do some boating

Yah well do be careful with that. Boating. Tough on wallets, tough on the hodler of wallets.

We’ve seen too many lose their bitcoin’s at sea in recent years  

Yeah there's no doubt some very rich whale out there in the vast oceans that gobbles the wallets that we've lost all up, whether paper or coldcard. Obviously he feels a bit sick when he has to try and digest all the shit trezor and ledger come up with, but money is money however easily compromised.