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

[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 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?

yea, but "them" in a context of WO sounds a bit off...don't ya think.
A thought occurred: if they manage to decrease all assets 90%, then there is not much to tax, right?
Win-win, lol.

[Richy_T]

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?

[marcus_of_augustus]

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?

... mmm, why can't you just think of the children!!!???


... the original income tax Act that was bought in at same time as the Federal Reserve Act was specifically for only the very highest income earners and politicians swore black and blue it would only ever be a tax for the very richest .... today everybody pays income taxes.


... this thing has got legs because the actual power behind Biden is not the wealthy elite but the powerful statists inside government that had him installed in a fraudulent election they signed off on. Police States do weird and wonderful things, the roller coaster has reached the top of the climb, it gets freaky from here on out as we freewheel into full governmental insanity.

[Hhampuz]

I know a lot of you in here probably got a bunch of newfound wealth in recent months, even though 1BTC = 1BTC no matter what, but damn.. Never thought I'd see so many people oppose an increased tax to people who declare over $1m CAP GAINS a year. Happy friday WO.

[Kylapoiss]

Next 24h are critical.


BD party this weekend YEEHAW, gonna get piss drunk and do lots of stupid things.

[heslo]

Well, it's definitely been a day!

[DaRude]

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?

... mmm, why can't you just think of the children!!!???


... the original income tax Act that was bought in at same time as the Federal Reserve Act was specifically for only the very highest income earners and politicians swore black and blue it would only ever be a tax for the very richest .... today everybody pays income taxes.


... this thing has got legs because the actual power behind Biden is not the wealthy elite but the powerful statists inside government that had him installed in a fraudulent election they signed off on. Police States do weird and wonderful things, the roller coaster has reached the top of the climb, it gets freaky from here on out as we freewheel into full governmental insanity.

So the argument against the tax that'd benefit lower 99.7% by making top 0.3% of population (which constantly sees its wealth increase disproportionally to the rest) pay higher tax is that it's a gateway drug tax? First them then everyone else?

In 1978, the top 0.1% owned about 7% of the nation’s wealth. In 2019, the latest year of data available, they own nearly 20%.

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

Guessing currently it's probably around 25% after this stellar year of ATH markets during the pandemic. I pick my battles and i got better things to do than standing up for the top 0.3%

If you don't see the issue with current distribution of wealth, is there a point at which you believe it would become an issue? Would you be fine with top 0.1% owning 30% of all of the wealth?  50%? But i'm glad to know that when i'm ready to withdraw millions in cap gains/yr that there'll always be a lot of poor (to me) people helping me protect my gains against their own best interests. Just hope that by then i won't have to drive in armored vehicle with armed guards between my gated community and my yacht club. cause you know, those poor plebs can do desperate things

[TopTort777]

“Panic at the disco” 

Ive noticed, that yesterday Bitcoin dominance was around 48%. After this price drop, dominance has returned to 50%. Is this the way (drop) how to return dominance? “That’s they way I dont like it” @ KC and The Sunshine Band

[cryptoperkele]

And to think that this whole crypto marketcap is going to rise way more before eventually crashing again. That crushing last drop before bear cycle is probably going to hurt a lot.

Even this crash was messing my mind just because i was heavily in some alts and i don't really like to make new plans or delaying them. I guess i eat ramens for a while now...

[UnDerDoG81]

Uhh yeah blood and panic everywhere. Missed this feeling. Fantastic time to buy moar. Hoping for $43k. Summer will be sideways that was for sure.

[OutOfMemory]

Uhh yeah blood and panic everywhere. Missed this feeling. Fantastic time to buy moar. Hoping for $43k. Summer will be sideways that was for sure.

So here we have our 2013 revival?
aka. "bloody summer of '21"  

EDIT: Sold off enough to cover the remaining work and material of the house expansion yesterday AND buy a little of this dip this morning.
About a third of the amount bought (in satoshis) between 12/2020 and 02/2021 can go to cold storage.
I was thinking about selling earlier, but i obviously was a bit too greedy in terms of keeping as much of BTC as possible.
On the positive side: No more fuzz about the chart and market manipulator dumps until Q4/21 for me.

[BobLawblaw]

Oooh weee. Just got filled at $49,250, AND IT FEELS SOO GOOD!!!
EDIT: $49,000 filled... OH BABY!!!

[OutOfMemory]

Oooh weee. Just got filled at $49,250, AND IT FEELS SOO GOOD!!!
EDIT: $49,000 filled... OH BABY!!!

Don't forget the wipes   

[El duderino_]

Have had better mornings in the last months 

Curious where we go from here.... Good to see alts are doing worse. Though I like the market more when we are in the green zones.

Not to much friends panicking yet, that’s a new one.

[Hueristic]

[El duderino_]

Bitcoin is dumping.
Mufasa not dancing now.
Friday must turn green.

[BobLawblaw]

Oooh weee. Just got filled at $49,250, AND IT FEELS SOO GOOD!!!
EDIT: $49,000 filled... OH BABY!!!

$48,750 & $48,500 filled!!! Holy...
EDIT: Lulz. Gemini is down.

[NotATether]

I know a lot of you in here probably got a bunch of newfound wealth in recent months, even though 1BTC = 1BTC no matter what, but damn.. Never thought I'd see so many people oppose an increased tax to people who declare over $1m CAP GAINS a year. Happy friday WO.

....aaaaand we're at $49K. I'd buy some but I'm entirely BTC denominated already

Seriously though, fuck increased taxes. When was the last time gov did anything useful with them?

[Arriemoller]

How long does a transaction stay in the mempool?
I payed way to little and now I'm not getting any confirmations.

[Biro Bob]

Ouch! I know we’re up in general but this dip really makes the eyes water. Even if Bob is cheering buying at $49k... I know he’s crying at the bottom line.