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

[Parazyd]

Yo how do I get merit points if the only thread I post in is WO? I feel old, but I still don't have the legendary shiny coins under my name.
This gamification is killing me.

Not that I have any crypto coins under my name either

rant

Woah, calm down. You're taking this too seriously
Thanks for the input though.

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[Elwar]

Only question I would have if I pay for a Tesla with BTC am I still liable for Capital Gains Tax or not. 

Unfortunately you do. The Tesla you buy is the same as converting to dollars.

I won't join the chorus of IRS sympathisers and try to scare you into paying such a tax though. Do what you want.

Unfortunately by posting this I'm outing myself to the IRS that I understand taxes such that buying something is equivalent to selling it. Which I do pay taxes on so no big deal, but when it comes to taxes if you do not understand that you are breaking the law then they can only get you on civi penalties as opposed to purposeful tax evasion which is a criminal offense.

Ignorance of taxes is actually a good thing in such a situation. And it actually makes it so that you do not have freedom of speech considering if you post something like this and later get accused of avoiding taxes you cannot claim ignorance as they then point to your post showing that you had the knowledge.

Either way, taxation is extortion. The best way to avoid taxes is to live outside of the country and make less than $100k per year in income or live in the US and take out less than $70k or so in capital gains with no income (as a married person). Not that I would know much about that...

Also, stop voting for people that openly extort you.

[JayJuanGee]

[edited out]

He refers to crypto limits because it is LITERALLY what the policy says (they don't differentiate between cryptocurrencies).
Therefore, why don't you bring it to the attention of Kraken and Coinbase instead?

Well thanks for pointing that out, Biodom...

We can then say fuck those exchanges for using such loosey goosey language..

And furthermore, their failure and refusal to differentiate and clarify does not mean that we should not differentiate in this thread or at least, attempt to point out what is the matter that is being referred to, no?

Honestly, with @JJG entity on the prowl, we are going to lose probably 90% of new posters. Who knows, maybe that's the task at hand.
The post above sounds like newbie abuse to me. js

Biodom, the white knight and director of the membership retention department.  

Did we lose anyone over that post, Biodom?   What's the retention# gauge saying?



I heard that there was a new policy coming out of the member retentionship department:





Hi.. welcome, frog.. cousin of Biodom***... ..

#Justpracticing

***By the way, initially I chose this frog meme because the frog was cute.. and such choice was mere coincidence, and I had not realized it was "Biodom's cousin" until after I had already selected and posted it.

Sometimes noobs do deserve to be bashed  

Hahahahaha

I was thinking of inserting that idea about the need to bash some newbies into my post too.. but I was too scardie cat about Biodom coming after me. (not)

In trying to deal with Biodom yesterday, this was me:



Un scardie kitty

Yo how do I get merit points if the only thread I post in is WO? I feel old, but I still don't have the legendary shiny coins under my name.
This gamification is killing me.

Not that I have any crypto coins under my name either

rant

Woah, calm down. You're taking this too seriously
Thanks for the input though.

Whoaza!!!!!!

Seriously, you mean that you are not serious?

Furthermore, think about your characterization of my earlier post as a "rant."  I do tend to forget things like this and I am not really very likely to hold grudges (not that I do not have any grudges), but sometimes you may want to consider your word choices, just considering that posts are not necessarily personal, but sometimes might be intended more broadly, since this happens to be a public thread.. so there is that angle.. too.

Yo how do I get merit points if the only thread I post in is WO? I feel old, but I still don't have the legendary shiny coins under my name.
This gamification is killing me.

Not that I have any crypto coins under my name either

Show us you love Bitcoin BTC

b-but I've been here for a long time! Isn't it obvious?

That's true.

You have been here a long time.

You have been here before I even realized what bitcoin was - beyond maybe that I had heard the name a few times, but I had not looked into it at all before about 9 months (enough time for a baby) after you had already registered on the forum.  maybe you could give us your back story?  maybe some of the ups and downs that you experienced through the years, and maybe if there is some kind of an explanation regarding why you had not been very active on the forum for long periods of time shows that you might not have really gotten converted over to bitcoin until recently, and sure it could even be quite questionable if you are converted over to bitcoin or you have varying interests that actually distract you from attempting to really understand what bitcoin is (or may become).

[cAPSLOCK]

The next few 15minutes-es are critical!

[lightfoot]

Only question I would have if I pay for a Tesla with BTC am I still liable for Capital Gains Tax or not. 

Dunno if you’d be liable but I’m almost certain they wouldn’t find out.

Absolutely. And yeah, I would expect the IRS to request Tesla to show the names and wallet addresses of everyone who buys a Tesla with coin. Just to check and verify taxes were paid. No different than bringing a wad of cash in.

[Dabs]

The best way to avoid taxes is to live outside of the country and make less than $100k per year in income or live in the US and take out less than $70k or so in capital gains with no income (as a married person). Not that I would know much about that...

Or, not be a US citizen... That has implications if you currently are or recently were a US citizen.

[Parazyd]

The best way to avoid taxes is to live outside of the country and make less than $100k per year in income or live in the US and take out less than $70k or so in capital gains with no income (as a married person). Not that I would know much about that...

Or, not be a US citizen... That has implications if you currently are or recently were a US citizen.

You still have to pay income tax _somewhere_, no?

[JayJuanGee]

Annoying. I just went over to Tesla to pick up a used Model S (there are no new ones) and they want this "Credit card" thing.

No clue what's up with that.

Did you check into ordering one and how long it might take to receive one?

Sure there is a difference between a shipping time of a week or so and 6 months or something like that.

In the case of a Tesla Model S, I would consider a week long shipping time to be reasonable, and of course, once it arrives you can make sure that it actually is what you had ordered. 

I remember when I was a kid (which would have been more than 40 years ago), my dad had ordered a new car, and when the car arrived (like more than two weeks after the order) it was missing some of the paint features that he had wanted to be included, so he was a bit upset about that, and they had to renegotiate aspects of the deal - and of course, how long it takes to order another new one could take a decent amount of time to make sure that he got what he wanted, and I think in the end, they negotiated some price adjustments and some local modifications that were not quite the same as what he had originally ordered but were reasonable substitutes for the mistake that had happened with his order.

[cAPSLOCK]

The next few 15minutes-es are critical!

Hmmm.  Now it's time to see how good 15m charts work... hoping for not that good.

[OutOfMemory]

Full Disclosure: Waiting for funds to clear so I can clean out my balance on the exchange, and loading up for a small sell order @ $60k USD for further funding of Ranchero Lawblaw. Hoping it happens in this tax-quarter.

Was going to wait for $75k and sell a larger chunk, but purpose-selling at $60k for the ranch build is justifiable to me.

Rick is already starting to stress out about cost overruns, and I'll be Goddamned if I'm going to let dude cheap out on my dream ranch-home build, so, yeah. Gotta smack that little bitch with my wallet.dat again.

"Yes. I want a fucking fishing dock. I don't see the problem spending $15k to have one properly built, goddamnit. Yes, I understand a new high quality fence will likely set us back $50k-$60k around the perimeter. Yes. I expect the bridge engineering and construction to cost north of $100k" sorta shit.

We have problems.

Following the one thing i learned from the dude that hands over the lottery price to the winner(s).
After handing the suitcase full of cash to the winner, he always asks "so what you're gonna do with the money?".
And most people tell him whatever. But if one of them says "i haven't thought about tha...t", "i don't know yet...", "i'm not sure...", he said he always replies:

If you don't know how to spend it, you should use this money to fulfill your dream(s), for a start.

He said that this always was an eye-opener to these winner(s).

I see you're doing exactly that.
Maybe tell Rick that this is the one life he got to live, nobody knows how long it's going to last, and he should think about respectfully using this gift instead of thinking about cost-overruns. Maybe try to find out his dream and help him realize it, too. He has to switch modes from wage-slave to retired-and-rich-as-fuck.

Just my two cents

[JayJuanGee]

Full Disclosure: Waiting for funds to clear so I can clean out my balance on the exchange, and loading up for a small sell order @ $60k USD for further funding of Ranchero Lawblaw. Hoping it happens in this tax-quarter.

Was going to wait for $75k and sell a larger chunk, but purpose-selling at $60k for the ranch build is justifiable to me.

Rick is already starting to stress out about cost overruns, and I'll be Goddamned if I'm going to let dude cheap out on my dream ranch-home build, so, yeah. Gotta smack that little bitch with my wallet.dat again.

"Yes. I want a fucking fishing dock. I don't see the problem spending $15k to have one properly built, goddamnit. Yes, I understand a new high quality fence will likely set us back $50k-$60k around the perimeter. Yes. I expect the bridge engineering and construction to cost north of $100k" sorta shit.

We have problems.

Are you going to have even more problems if the BTC price goes down from here, rather than up as you are expecting?

Surely some cost overruns are likely to be inevitable, but I would think that a 5-6x increase in the bitcoin price since September should make those kinds of "cost overruns" to seem like ant hills.

Also, not really bad problems to have if you are pricing the value of your BTC in conservative ways, but if you are relying upon a price increase or even a lack of a price drop to meet your expenses, you could end up in a world of hurt, psychologically and financially.. ...

From your post, it does not seem that you have reached anything close to psychological or financial hurtening yet, and so  long as you have actually accounted for real possibilities of significant BTC price flattening or drops that could endure for longer than you had hoped or expected, then you should be able to bear through it.. though many of us have witnessed some of your emotional outbursts in the past, so several of us should realize that you might not have pee pared ur lil selfie for more extreme scenarios that currently seem less likely to occur.

I wish somebody would smack me with a wallet.dat

Oh gawd...




Another gambler (loser or likely loser) chimes in with wishes rather than letting us know that he had been engaging in practical and reasonable strategies.

 

[OutOfMemory]

https://twitter.com/elonmusk/status/1374619379929772034?s=20

Even better

That's the most important news. The fact that they accept bitcoin is known for long!

But the JP-Morgan news last week should have us moved up the 65k easily. As a rich person you can buy Bitcoin from JP Morgan. But we are in  a highly manipulated market. This week the opion expiring will cause market movement. We will see, if someone will dump on the tesla news as well... I would not wonder, if we go down again, because the market is manipulated like fuck! (sorry, the last 3 weeks of bullish news should have us moved so much higher, insted we testes 54k again?! Yeah ... totally natural market behaviour!)

Yes of course there is totally normal and natural market behavior and manipulation is ONLY one factor, so why the fuck you focusing on one factor and trying to make some kind of case for being able to see what is going on or what you believe is going to happen, which may or may not be what is going on and the predictive value of your whining also seems quite questionable at best.

Yes, the BTC price goes down based on a variety of factors including the fact that it went up, including going up more than 20% in March, so far, in spite bouncing around a 9% correction (at $56,200) from its March 13 top of $61,782.

What the fuck you expect?  The BTC price to go straight up, then you can proclaim that there is no manipulation and the price is moving with the news, blah blah blah.. nonsense?

Even if you zoom out a wee bit, you should likely be able to appreciate that in the past couple of weeks, the BTC price has largely been bouncing around a 5x to 6x price appreciation that had happened largely since about early September.. sure slowly at first but seemingly increasing as we had gone along into December and thereafter...

So you believe it is quite obvious that BTC prices should be continuing to go up from here.. What a bunch of nonsense to create such unidirectional expectations, even though, sure, the UPpity may happen and may continue, but then again, there may be some need for a correction.. whether your little whiny ass can hang on or not in the event that such a large correction might take place.. and sure the manipulation including the creation of large corrections is to shake some of the whiny asses like yourself out.. take your profits now if you might not be able to hang onto a BIGGER correction that may well take place long before more UPpity.. or a sufficient amount of UPpity takes place to your likenings.

56k

"in MINUTES" actually made my day.
Thanks, now off to the dirty isolation work and see you later after the pump  

Download your 200mb jpeg in less than an hour!!!!!!!

Wasn't it only 2-color indexed gif back then?
A bitmap file would have been transferred faster on floppy disk by mail, i guess  

[OutOfMemory]

The next few 15minutes-es are critical!

Useless.
Here's the bigger pic:

[Krubster]

Now since Tesla is accepting BTC as payment, had me thinking...

An unmodified Tesla Model 3 in the US is roughly $40k. In my country (Sweden) the price is almost $70k. So if I bought a Tesla in the US, and had it shipped to Sweden, do you think Tesla would report that purchace to the swedish IRS? Hmm 

[lightfoot]

You still have to pay income tax _somewhere_, no?

Pretty much. Places where you"don't" can have other.... stability issues that would require funding a personal standing army or a very fast helicopter for escape purposes.

Not much in the way of a true free lunch out there. And to be honest a 20% CG tax on this bitcoin runup is really a tax for ants....

[Hhampuz]

Now since Tesla is accepting BTC as payment, had me thinking...

An unmodified Tesla Model 3 in the US is roughly $40k. In my country (Sweden) the price is almost $70k. So if I bought a Tesla in the US, and had it shipped to Sweden, do you think Tesla would report that purchace to the swedish IRS? Hmm 

Skatteverket will definitely come after you if you'd register the Tesla, bloodhounds like they are (especially if you've reported any bitcoin sales in the past).

[Slot Kid]

What’s gotta happen for us to break out of this range? I keep seeing stuff about supply drying up on exchanges but the price isn’t reflecting that yet. I still think maybe 75000 by the end of April. Who is selling now, idiots.

[El duderino_]

Damn that’s a lot of red whale calls.... though price still 54xxx .....

[JayJuanGee]

Maybe tell Rick that this is the one life he got to live, nobody knows how long it's going to last, and he should think about respectfully using this gift instead of thinking about cost-overruns. Maybe try to find out his dream and help him realize it, too. He has to switch modes from wage-slave to retired-and-rich-as-fuck.

Yeah, it seems that anyone is still going to need to account for budgeting decisions and to keep track of moneys, especially the larger purchases.. so for example, if based on finances, there was a decision to buy 200 acres, and then after considering the physical layout and various practicalities of "wanting more", there was a decision to buy an additional 40 acres, sometimes larger purchases are going to trigger a need to reconsider financial matters, and if there was enough money in the petty cash fund to cover the 40 acres, then there might be questions about replacing money in the petty cash funds to cover such a likely large withdrawal.

Sure, sometimes there still can be assistance from accountants, but still there might be some considerable difficulties to completely forget about money and just live in a way that is "rich as fuck."

I don't claim to be any kind of expert in regards to figuring out how to spend some moneys, and sure there could be a certain amount, such a $1million or $2million that ends up going into a "do whatever you like" fund, and but I really doubt that the whole budget can be ignored, even if there were $100 million in the fund, if you go out and start buying yachts and planes without really considering maintenance costs and staffing costs, the funds could get depleted if they are not categorized and attempts are made to contain some costs.

[ImThour]

I was so excited when Tesla announced they gonna keep hodling BTCs.
Why is the price still going down despite the big announcement?

Went from 56$k to 54k$