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

[dieselmeister]

https://cointelegraph.com/news/grayscale-ceo-firms-race-to-buy-bitcoin-as-mood-shifts-from-why-to-why-not

This should be bullish!

[rolling]

yep... yesterday 6k on coins are flown out of f2pool

There are millions of market participants and 6k coins is nothing compared to the whole market. If they want to sell at 1/10th of the cycle top, let them. There will either be buyers at this price or there won't. In the long run, it doesn't matter.

[Biodom]

yep... yesterday 6k on coins are flown out of f2pool

by the timing of it, it looks like their coins went to Musk, lol.
US (TSLA) is better for it.

[dieselmeister]

So sold my car to buy the dip... priorities gentlemen priorities ...

[Elwar]

Not it's just day traders messing around.

Next company to put BTC on their books will push it over $50k.

[dieselmeister]

https://twitter.com/BTC_Archive/status/1359507256862248961

"Twitter CFO looking at buying #Bitcoin for their balance sheet."

[EatonABooger]

I realized, that I only will get 4.5 btc for my car (okay, maybe 4 BTC I have to remove 20%, because it's used)... Last week it was 5...

Wow, 4 BTC? What kind of car do you have?

My car is worth way under 1 BTC... 

I "leased" me an Audi SQ8. I own a small company. So leasing makes sense here.  (btw. not the RS - because I thought the tax department had a problem with it, had I talked earlier to my tax accountant, then it would be the RS Q8). So I didn'T spend any bitcoin on it. The first car I will spend Bitcoins on it, will be the Urus...

speaking of...
the other day I had to go into town for some business.  We had just had a few inches of snow and some ice.   What did I see parked on the street?  I bright blue Urus !!! it was the first one I had ever seen in the flesh.  Man, was that a beautiful car.   It had been driving around in the slush and salty roads.   This was the type of day that I would look for my worst car to drive.  Could that have been their "sacrificial" car that they did not care about?  I really wanted to do some interviewing and understand the situation.   Maybe their mclarens or classic muscle cars just could not drive in the snow and ice and this was the only vehicle they had with 4 wheel drive.

[friends1980]

https://twitter.com/BTC_Archive/status/1359507256862248961

"Twitter CFO looking at buying #Bitcoin for their balance sheet."

Sorry to be a party pooper, but I'm not really charmed by these FOMO pumps. What's the deal, all famous CEOs can go stand in line and one by one shout their bags or so?

That would not exactly be my idea as a dream strategy to implement BTC for daily use.

[dieselmeister]

https://twitter.com/BTC_Archive/status/1359507256862248961

"Twitter CFO looking at buying #Bitcoin for their balance sheet."

Sorry to be a party pooper, but I'm not really charmed by these FOMO pumps. What's the deal, all famous CEOs can go stand in line and one by one shout their bags or so?

That would not exactly be my idea as a dream strategy to implement BTC for daily use.

But You and I profit from that (not today ... all my buy orders downward are gonna eaten up...) but regardless your "dream", you make money and sooner or later, you can stop playing by their rules (go to work from 9 to 5...)

[dieselmeister]

I realized, that I only will get 4.5 btc for my car (okay, maybe 4 BTC I have to remove 20%, because it's used)... Last week it was 5...

Wow, 4 BTC? What kind of car do you have?

My car is worth way under 1 BTC... 

I "leased" me an Audi SQ8. I own a small company. So leasing makes sense here.  (btw. not the RS - because I thought the tax department had a problem with it, had I talked earlier to my tax accountant, then it would be the RS Q8). So I didn'T spend any bitcoin on it. The first car I will spend Bitcoins on it, will be the Urus...

speaking of...
the other day I had to go into town for some business.  We had just had a few inches of snow and some ice.   What did I see parked on the street?  I bright blue Urus !!! it was the first one I had ever seen in the flesh.  Man, was that a beautiful car.   It had been driving around in the slush and salty roads.   This was the type of day that I would look for my worst car to drive.  Could that have been their "sacrificial" car that they did not care about?  I really wanted to do some interviewing and understand the situation.   Maybe their mclarens or classic muscle cars just could not drive in the snow and ice and this was the only vehicle they had with 4 wheel drive.

If I could, I would buy me a urus ... but I have to admin ... the Audi is awesome. It's the last Diesel/Gasoil of it's kind... only 435hp but 900 Nm torgue... This car make fun and look from the inside like a space ship... I like this. So I am glad, the Urus looks the same from the Inside!

[Millionero]

If wealth taxes start being egregious, it might be time to consider an exit. Lots of countries where your money will go a long way.

here in the USA to renounce your citizenship (and thus never pay taxes to uncle sam again) you need to pay the exit tax on the entirety of your net worth. dont recall the percentage but 30% sticks in my head for some reason.

Anybody got a link?

It's not net worth, it's your unrealized gains and only if you're worth more than $2million

https://www.irs.gov/individuals/international-taxpayers/expatriation-tax

Thanks for the link.  quote
IRC 877A imposes a mark-to-market regime, which generally means that all property of a covered expatriate is deemed sold for its fair market value on the day before the expatriation date.  Any gain arising from the deemed sale is taken into account for the tax year of the deemed sale
That's pretty evil.  I understand they're doing it to keep people from walking off with huge gains, but it's evil.  You pay cap gains, your assets drop in price, and you're screwed.  You just paid tax on non-existent gains.

[Wekkel]

Not sure whether this has already been posted but posting it anyway: here

*Zero Hedge explaining how JP Morgan will be wrong again.

[El duderino_]

Next big pump on the way?

[GalaWan]

I can say that there is a solid correction. If there is a recovery from here, it could enter a better uptrend. At first, everyone seems to be in this astonishment and panic right now, but most likely.

[OutOfMemory]

I realized, that I only will get 4.5 btc for my car (okay, maybe 4 BTC I have to remove 20%, because it's used)... Last week it was 5...

Wow, 4 BTC? What kind of car do you have?

My car is worth way under 1 BTC...  

I "leased" me an Audi SQ8. I own a small company. So leasing makes sense here.  (btw. not the RS - because I thought the tax department had a problem with it, had I talked earlier to my tax accountant, then it would be the RS Q8). So I didn'T spend any bitcoin on it. The first car I will spend Bitcoins on it, will be the Urus...

Well, either you drive an Audi or you just drive a car  
The etron also looks damn sweet, imo.
Problem is, i need 6 seats minimum, and the secondary car has to be compact, cheap, troublefree and 4WD.

So a nice S3 Sportsback?

Noooo!!!
Too precious for the wife. More like a Fiat Panda 4x4.
She doesn't care about maintenance, cleaning. Any of her cars becomes a rolling trashcan/closet within days.
She's half as dirty in bed, so it's OK  

[JimboToronto]

Good morning Bitcoinland.

Down a wee this morning... currently $44535USD/$56504CAD (Bitcoinaverage).

Are we heading into a month of $4xxxx sideways just like the month of $3xxxx sideways we just endured?
____

All this talk of cars.

I can think of better things to spend my bitcoins on:

[dieselmeister]

I realized, that I only will get 4.5 btc for my car (okay, maybe 4 BTC I have to remove 20%, because it's used)... Last week it was 5...

Wow, 4 BTC? What kind of car do you have?

My car is worth way under 1 BTC...  

I "leased" me an Audi SQ8. I own a small company. So leasing makes sense here.  (btw. not the RS - because I thought the tax department had a problem with it, had I talked earlier to my tax accountant, then it would be the RS Q8). So I didn'T spend any bitcoin on it. The first car I will spend Bitcoins on it, will be the Urus...

Well, either you drive an Audi or you just drive a car  
The etron also looks damn sweet, imo.
Problem is, i need 6 seats minimum, and the secondary car has to be compact, cheap, troublefree and 4WD.

So a nice S3 Sportsback?

Noooo!!!
Too precious for the wife. More like a Fiat Panda 4x4.
She doesn't care about maintenance, cleaning. Any of her cars becomes a rolling trashcan/closet within days.
She's half as dirty in bed, so it's OK  

 

[philipma1957]

Good morning Bitcoinland.

Down a wee this morning... currently $44535USD/$56504CAD (Bitcoinaverage).

Are we heading into a month of $4xxxx sideways just like the month of $3xxxx sideways we just endured?

A few weeks of of sideways is very good.

[rolling]

If wealth taxes start being egregious, it might be time to consider an exit. Lots of countries where your money will go a long way.

here in the USA to renounce your citizenship (and thus never pay taxes to uncle sam again) you need to pay the exit tax on the entirety of your net worth. dont recall the percentage but 30% sticks in my head for some reason.

Anybody got a link?

It's not net worth, it's your unrealized gains and only if you're worth more than $2million

https://www.irs.gov/individuals/international-taxpayers/expatriation-tax

Thanks for the link.  quote
IRC 877A imposes a mark-to-market regime, which generally means that all property of a covered expatriate is deemed sold for its fair market value on the day before the expatriation date.  Any gain arising from the deemed sale is taken into account for the tax year of the deemed sale
That's pretty evil.  I understand they're doing it to keep people from walking off with huge gains, but it's evil.  You pay cap gains, your assets drop in price, and you're screwed.  You just paid tax on non-existent gains.

I think they adjust the gain once you actually realize it and you can defer the payment of the tax due until you realize the actual gain by securing a bond. I don't think it's too bad. You're just paying for your existing gains that you would have paid capital gains on at some point anyway and starting fresh as a non-citizen. It's not like you owe capital gains and a separate exit tax. It's the same thing.
https://www.irs.gov/irb/2009-45_IRB

There is really no reason to renounce US citizenship for tax purposes though as long as you can still move down to Puerto Rico and get a 0% tax rate on capital gains under their Act 60 program. If that program goes away then yeah, renouncing is the only other option.
https://relocatepuertorico.com/

[Torque]

Not sure whether this has already been posted but posting it anyway: here

*Zero Hedge explaining how JP Morgan will be wrong again.

Thanks, read the whole article. Some great information there.

Btw, can anyone here figure out how to tell the owner of this website to update it with the Tesla and MassMutual announcements?