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

[Richy_T]

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.

There are often allowances and sometimes longer time invested means lower tax.

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[Biodom]

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.

of course, no, it would be made retroactive to Jan 1, 2021, otherwise there will be gigantic tax-related selling over the rest of 2021.
why postpone paying the tax? because if you sell, whatcha going to do with 60% that is left. Invest again? lol
Besides, you can spread it out over the years.

[Torque]

All this talk about cap gains increasing. Ya'll need to chill.

1. The proposal is a cap gain increase for those making over $1M/year in income. Average Joes unaffected.

...and it doesn't even matter, because...

2. It'll never, ever, ever, ever, ever, ever pass. Won't even make it to the floor. It's all just talk. Why? Because the politicians are beholden to the very elite that this would affect, that's why.

[lightfoot]

Which means there is a fire sale for bitcoin going on RIGHT NOW!!!!!!!!!!!!!!!!!!

[OutOfMemory]

Who expected the price not to go down after i bought?
I'm just a little annoyed that i didn't buy later.

In my mind, the following scene goes on and on:

Joe: "Fuck! Saylor, Musk, even my dickhead son bought a ton of bitcoin at prices lower than $20k. Now i have to fucking fomo-buy in at almost $60k, or what?!"
Janet: *raises hand*

[Biodom]

Who expected the price not to go down after i bought?
I'm just a little annoyed that i didn't buy later.

In my mind, the following scene goes on and on:

Joe: "Fuck! Saylor, Musk, even my dickhead son bought a ton of bitcoin at prices lower than $20k. Now i have to fucking fomo-buy in at almost $60k, or what?!"
Janet: *raises hand*

Joe B. and Yellin' Janet? lol

[OutOfMemory]

Who expected the price not to go down after i bought?
I'm just a little annoyed that i didn't buy later.

In my mind, the following scene goes on and on:

Joe: "Fuck! Saylor, Musk, even my dickhead son bought a ton of bitcoin at prices lower than $20k. Now i have to fucking fomo-buy in at almost $60k, or what?!"
Janet: *raises hand*

Joe B. and Yellin' Janet? lol

Yep  

EDIT: A quick green vape and off to bed. Bitcoin, surprise me in the morning, will ya? 

[BobLawblaw]

it is too late as they will make it retroactive to Jan 1, 2021

That's not how this works.

That's not how any of this works.

Stop spreading FUD.

[Hueristic]

Widely used forensic software can be exploited to infect investigators' computers.

https://arstechnica.com/information-technology/2021/04/in-epic-hack-signal-developer-turns-the-tables-on-forensics-firm-cellebrite/

For example, by including a specially formatted but otherwise innocuous file in an app on a device that is then scanned by Cellebrite, it’s possible to execute code that modifies not just the Cellebrite report being created in that scan, but also all previous and future generated Cellebrite reports from all previously scanned devices and all future scanned devices in any arbitrary way (inserting or removing text, email, photos, contacts, files, or any other data), with no detectable timestamp changes or checksum failures. This could even be done at random, and would seriously call the data integrity of Cellebrite’s reports into question.

[seljo]

Widely used forensic software can be exploited to infect investigators' computers.

https://arstechnica.com/information-technology/2021/04/in-epic-hack-signal-developer-turns-the-tables-on-forensics-firm-cellebrite/

For example, by including a specially formatted but otherwise innocuous file in an app on a device that is then scanned by Cellebrite, it’s possible to execute code that modifies not just the Cellebrite report being created in that scan, but also all previous and future generated Cellebrite reports from all previously scanned devices and all future scanned devices in any arbitrary way (inserting or removing text, email, photos, contacts, files, or any other data), with no detectable timestamp changes or checksum failures. This could even be done at random, and would seriously call the data integrity of Cellebrite’s reports into question.

also aesthetics are important

In completely unrelated news, upcoming versions of Signal will be periodically fetching files to place in app storage. These files are never used for anything inside Signal and never interact with Signal software or data, but they look nice, and aesthetics are important in software. Files will only be returned for accounts that have been active installs for some time already, and only probabilistically in low percentages based on phone number sharding. We have a few different versions of files that we think are aesthetically pleasing, and will iterate through those slowly over time. There is no other significance to these files.

[shahzadafzal]

Where are those who were poking her at $64k?

[Biodom]

it is too late as they will make it retroactive to Jan 1, 2021

That's not how this works.

That's not how any of this works.

Stop spreading FUD.

Learn your history, pal.
https://www.baltimoresun.com/news/bs-xpm-1993-08-11-1993223042-story.html
https://www.latimes.com/archives/la-xpm-1994-06-14-mn-3963-story.html

[janggernaut]

Reason of current dump
https://cointelegraph.com/news/here-s-why-bulls-aren-t-this-buying-the-bitcoin-price-dip-to-50-000

Data shows pro traders are not buying the current Bitcoin dip as tomorrow’s $1.55 billion options expiry looms.

Does anyone know where i can find full list of this options will expire? Previous huge dump also happened because of this.

[BitcoinBunny]

Don't tell me we are going to lose 50....  

Edit: It dipped below for just a minute it seemed.
$50,600 level seems pretty strong with these bounces mostly.

Many alts doing far worse of course.

[shahzadafzal]

Who’s pulling the rug?

[BobLawblaw]

Learn your history, pal.
https://www.baltimoresun.com/news/bs-xpm-1993-08-11-1993223042-story.html
https://www.latimes.com/archives/la-xpm-1994-06-14-mn-3963-story.html

Yeah, well... like... just.. you know?

[DaRude]

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 like how you conveniently left out "...for those Americans earning more than $1 million" part, is that what they call fake news??

Let's see, looks like there were 154,094,555 Individual income tax filed, out of those 541,410 is the Number of returns with AGI $1M or more (TY 2018). If my maths are right that's only 0.3% of tax returns.
https://www.irs.gov/statistics/soi-tax-stats-tax-stats-at-a-glance

Now i'm sure that there are a lot of issues with taxation etc, but tell me again how the fuck shit that's only effecting top 0,3% is what we're supposed to worry about? What if it was only effecting those hedge fund owners making over $10MM/yr, would you still feel the need to protect them?

154,094,555 Individual income taxes, collected $1,942,182MM, that's an average of $12603/return. Worst case, single filer with no dependents and standard deductions would need to earn over $89k/yr to be a net contributor. I feel for Bob and his ranch, but perhaps he can limiting his cap gains to $999k/yr for few years and the point is moot

[Sayeds56]

Which means there is a fire sale for bitcoin going on RIGHT NOW!!!!!!!!!!!!!!!!!!

https://www.youtube.com/watch?v=0LhQjO_Lyqc

[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 like how you conveniently left out "...for those Americans earning more than $1 million" part, is that what they call fake news??

Let's see, looks like there were 154,094,555 Individual income tax filed, out of those 541,410 is the Number of returns with AGI $1M or more (TY 2018). If my maths are right that's only 0.3% of tax returns.
https://www.irs.gov/statistics/soi-tax-stats-tax-stats-at-a-glance

Now i'm sure that there are a lot of issues with taxation etc, but tell me again how the fuck shit that's only effecting top 0,3% is what we're supposed to worry about? What if it was only effecting those hedge fund owners making over $10MM/yr, would you still feel the need to protect them?

154,094,555 Individual income taxes, collected $1,942,182MM, that's an average of $12603/return. Worst case, single filer with no dependents and standard deductions would need to earn over $89k/yr to be a net contributor. I feel for Bob and his ranch, but perhaps he can limiting his cap gains to $999k/yr for few years and the point is moot

What do you mean I left that out, I'm not a "reporter" (whatever that actually means these days).
Is $1 million mentioned in every headline? Nope. I doubt they'd get away with 43% even on that level. But even 28% above or below would make me think a bit more about selling whatever asset I would have. Moreover even at $1 million it could set a precedent that they may come after smaller values later.

If you believe the details will keep you safe you have nothing to fear. Many headlines are designed for FUD or clickbait, I agree with that.
There are plenty hodlers with at least multiple coins eyeing a $1 million level per coin and it would obviously concern them IF they sell.

[DaRude]

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 like how you conveniently left out "...for those Americans earning more than $1 million" part, is that what they call fake news??

Let's see, looks like there were 154,094,555 Individual income tax filed, out of those 541,410 is the Number of returns with AGI $1M or more (TY 2018). If my maths are right that's only 0.3% of tax returns.
https://www.irs.gov/statistics/soi-tax-stats-tax-stats-at-a-glance

Now i'm sure that there are a lot of issues with taxation etc, but tell me again how the fuck shit that's only effecting top 0,3% is what we're supposed to worry about? What if it was only effecting those hedge fund owners making over $10MM/yr, would you still feel the need to protect them?

154,094,555 Individual income taxes, collected $1,942,182MM, that's an average of $12603/return. Worst case, single filer with no dependents and standard deductions would need to earn over $89k/yr to be a net contributor. I feel for Bob and his ranch, but perhaps he can limiting his cap gains to $999k/yr for few years and the point is moot

What do you mean I left that out, I'm not a "reporter" (whatever that actually means these days).
Is $1 million mentioned in every headline? Nope. I doubt they'd get away with 43% even on that level. But even 28% above or below would make me think a bit more about selling whatever asset I would have. Moreover even at $1 million it could set a precedent that they may come after smaller values later.

If you believe the details will keep you safe you have nothing to fear. Many headlines are designed for FUD or clickbait, I agree with that.
There are plenty hodlers with at least multiple coins eyeing a $1 million level per coin and it would obviously concern them IF they sell.

Well full title is "Biden to propose capital gains tax of 39.6% to fund education and child care, reports say". So your question is how Biden lovers here can love him when he proposes to raise taxes on top 0.3% of millionaires to fund education and child care? As much as i think tax system is screwed up i'm really having a hard time finding sympathy for top 0.3%, somehow i think they'll manage


Edit:

The top 1% now own more wealth than the bottom 92%, and the 50 wealthiest Americans own more wealth than the bottom half of American society – 165 million people.

https://www.theguardian.com/commentisfree/2021/mar/29/rich-poor-gap-wealth-inequality-bernie-sanders


https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States
Can you tell how much top 0.3% own that we're supposed to feel bad about, and protect them from rising taxes?