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

[BitcoinBunny]

I take it the Biden lovers here still love him after threatening to double capital gains tax, right, because it's gonna go to a "good cause"?

https://www.msn.com/en-us/money/markets/biden-to-propose-capital-gains-tax-of-396-to-fund-education-and-child-care-reports-say/ar-BB1fWevE


Probably why your corn is worth a bit less at the moment.

I don't understand this.  Rather than pay a (yet to be proposed) higher capital gains tax, Americans would pull their money out of the markets right now and put it into what?  Is the plan to make no capital gains in the future?!

 

Plenty ways for plenty people on the border range of having to pay something like that (if it passes which is probably 50-50 I'd say) to think of other ways of making money.
A crypto or stock whale could draw money out now and invest in property now with guaranteed rental income rather than Biden hurting an entire portfolio of assets in one go etc.

The closer taxes get to the 50% threshold, the more people will just think I'm not going to bother and wait for a gain that may or may not happen if I have to pay that much.
A large part / most of Bitcoin and stock prices are made up of confidence ratings.

Or just take money out now, pay the 20% move to a tax heaven and have it done asap with without a threat of ever having to pay more in the future.

Seems logical to me.

[1714814676]

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[1714814676]

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[BitcoinGirl.Club]

Imagine taking out capital gains over $1m anyways.. What is this, why not just convert to corn ASAP?

How did you even find this thread 😜

[LoyceV]

I don't understand this.  Rather than pay a (yet to be proposed) higher capital gains tax, Americans would pull their money out of the markets right now and put it into what?  Is the plan to make no capital gains in the future?!

We don't have a capital gains tax, but as far as I understand you'd pay the current tax if you withdraw now.
So, if you gained $100 and tax is 20%, you owe $20 in taxes now if you realize the gains. Then you start from scratch with no gains, and taxes go up to 40% only on your future gains (not on your past gains).

I never really got this though: if the tax is fixed, why would you want to postpone paying the tax, if you have to pay it eventually anyway? Unless you're hoping for the tax to go down.

[JohnnyUranus]

red is an ugly color 

[El duderino_]

Price change please, opposite direction THX

[BitcoinBunny]

Forget it, after that announcement 43K.

[Karartma1]

That is some serious red mayhem going on.
Relax and take a break, remember why you are bitcoiners and why you are here.
Don't panic.
You know the game.

[El duderino_]

Forget it, after that announcement 43K.

LoL, like 43 is a sure thing .... Damn man have hear those bear predictions so many times for the last 6-7 years ... Its all BS imo and all nothing burgers just like most if not all TA and stuff

A drop, possible, rise possible as well its just a coinflip for the traders and a whatever for the long term hodlers...

Gonna hit the HODLnest and keep on the HODL.

[El duderino_]

That is some serious red mayhem going on.
Relax and take a break, remember why you are bitcoiners and why you are here.
Don't panic.
You know the game.

Just a bit of advantage taking to create a dip.... we all have seen this like every few weeks for like 10 years...

[LFC_Bitcoin]

https://twitter.com/aperfect_system/status/1385335137077022722?s=21










Few

[fillippone]

I don't understand this.  Rather than pay a (yet to be proposed) higher capital gains tax, Americans would pull their money out of the markets right now and put it into what?  Is the plan to make no capital gains in the future?!

We don't have a capital gains tax, but as far as I understand you'd pay the current tax if you withdraw now.
So, if you gained $100 and tax is 20%, you owe $20 in taxes now if you realize the gains. Then you start from scratch with no gains, and taxes go up to 40% only on your future gains (not on your past gains).

I never really got this though: if the tax is fixed, why would you want to postpone paying the tax, if you have to pay it eventually anyway? Unless you're hoping for the tax to go down.

Maybe it's just me being Italian, but taxes are going down.
Numbers go up, taxes go up.
If the taxes are big enough, you don't pay the taxes.
If the taxes are big enough you can find ways to avoid taxation.
Only poor people pay taxes.


Basically this:


 
https://twitter.com/btc_archive/status/1385324038034182154?s=21

[BitcoinBunny]

Forget it, after that announcement 43K.

LoL, like 43 is a sure thing .... Damn man have hear those bear predictions so many times for the last 6-7 years ... Its all BS imo and all nothing burgers just like most if not all TA and stuff

A drop, possible, rise possible as well its just a coinflip for the traders and a whatever for the long term hodlers...

Gonna hit the HODLnest and keep on the HODL.

Just looking at support levels.
I'm not selling but people are stupid and we know what happens with FUD news and a panic.
Hope we don't dip below 50K at all but if it does who knows where it goes.

[El duderino_]

Forget it, after that announcement 43K.

LoL, like 43 is a sure thing .... Damn man have hear those bear predictions so many times for the last 6-7 years ... Its all BS imo and all nothing burgers just like most if not all TA and stuff

A drop, possible, rise possible as well its just a coinflip for the traders and a whatever for the long term hodlers...

Gonna hit the HODLnest and keep on the HODL.

Just looking at support levels.
I'm not selling but people are stupid and we know what happens with FUD news and a panic.
Hope we don't dip below 50K at all but if it does who knows where it goes.

When there are TA's suggesting up, then i'm all ears... if not then whatever support, rsi, wma, fib, clouds, triangles, whatever of those things... Its all just noise and indicators to lose money or to make people scared etc nothing more...

People user account increase,  halvings--> decreasing supply, scarcity, FIAT out of thin air,inflation .... just give me this above whatever TA BS anyday...

[BobLawblaw]

Imagine taking out capital gains over $1m anyways.. What is this, why not just convert to corn ASAP?

Well, like, I mean... building a sprawling ranch in East Texas costs more than a couple bucks ya know...

[JohnnyUranus]

Just bought 0.015 btc, thats it, no more money in my exchange account atm.

[vapourminer]

That is some serious red mayhem going on.
Relax and take a break, remember why you are bitcoiners and why you are here.
Don't panic.
You know the game.

did i miss something? am i supposed to start the scream like a little girl thing?

looks like its just doing its bitcoin thing tbh

[Hhampuz]

Imagine taking out capital gains over $1m anyways.. What is this, why not just convert to corn ASAP?

Well, like, I mean... building a sprawling ranch in East Texas costs more than a couple bucks ya know...

You hiring people who don't accept corn? Tell them to join the rest of us in the 21st century 

[somac.]

Forget it, after that announcement 43K.

LoL, like 43 is a sure thing .... Damn man have hear those bear predictions so many times for the last 6-7 years ... Its all BS imo and all nothing burgers just like most if not all TA and stuff

A drop, possible, rise possible as well its just a coinflip for the traders and a whatever for the long term hodlers...

Gonna hit the HODLnest and keep on the HODL.

Just looking at support levels.
I'm not selling but people are stupid and we know what happens with FUD news and a panic.
Hope we don't dip below 50K at all but if it does who knows where it goes.

When there are TA's suggesting up, then i'm all ears... if not then whatever support, rsi, wma, fib, clouds, triangles, whatever of those things... Its all just noise and indicators to lose money or to make people scared etc nothing more...

People user account increase,  halvings--> decreasing supply, scarcity, FIAT out of thin air,inflation .... just give me this above whatever TA BS anyday...

That 43k roughly matches a 30% correction from ATH, which is traditionally the kind of pullback we get in a pull market. I think 45k is a safer bet which is more of an exact 30% correction. Do I want it to go down there? No. Will I buy more corn if it does? Yep.

[Biodom]

I take it the Biden lovers here still love him after threatening to double capital gains tax, right, because it's gonna go to a "good cause"?

https://www.msn.com/en-us/money/markets/biden-to-propose-capital-gains-tax-of-396-to-fund-education-and-child-care-reports-say/ar-BB1fWevE


Probably why your corn is worth a bit less at the moment.

I don't understand this.  Rather than pay a (yet to be proposed) higher capital gains tax, Americans would pull their money out of the markets right now and put it into what?  Is the plan to make no capital gains in the future?!

 

Exactly. Why sell and pay more than 50% tax in some states (43.4% in TX) on above 400k (or is it a mil)?
The position that you don't have to sell is further solidified by this.
I wouldn't like to pay 50% on what came from holdling through blood, sweat and tears and I legally wouldn't have to if I DON'T SELL.

For some, like Bawb, it is too late as they will make it retroactive to Jan 1, 2021, no doubt (if it passes).
A big boost to all btc lending services. However, if your btc collateral is liquidated, then you would have to pay cap gains taxes:
https://www.forbes.com/sites/shehanchandrasekera/2021/03/17/how-are-crypto-loans-taxed

Of course, there could be even more wicked schemes about yearly taxation of unrealized gains, but i would deal with that when it materializes.

[BitcoinGirl.Club]

That is some serious red mayhem going on.
Relax and take a break, remember why you are bitcoiners and why you are here.
Don't panic.
You know the game.

Been playing the game since 2013/2014.
Too experienced to be panicked.
$100k is where the eyes are now.