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

[hisslyness]

One of my channels... Only ~1400000 sats on it is coming up on having moved an entire bitcoin's worth of traffic.

That's kind of amazing when you think about it, isn't it?

That's what Layer 2 Scaling is all about!! The future of Bitcoin!

[1714758375]

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[1714758375]

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[1714758375]

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[1714758375]

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[1714758375]

1714758375

[vapourminer]

wen $69,420?

i have a token amount set to sell at $69420 USD

couldnt resist it 

[shahzadafzal]

Is this some kind of a scam?

Anyway whatever…



Edit:
Definitely a scam… heart broken.
https://www.instagram.com/p/uWYjsYS4w5/?utm_medium=copy_link

[gembitz]

Explanation

/\70K WEEEEEEEEEEEEEEEEEEEE    ///^+100K PARTY SOON !!

[hisslyness]

EDIT: Loaded up another BTC onto the node. Going to see if I can't figure out how to manage a LOOP channel, optimally.

I don't like not being able to understand something. Gonna try to fully get a better understanding of the LOOP mechanics...

I might come to you for lessons.  I have done nothing with loop in that way yet.  I have looped in and out, but not set up a loop channel...

*edit reducing image so "coming for lessons" is in a better context*

LOOP must have some sort of automated system for closing channels that are out of balance... 80%/20%

So far all 3 channels i have had opened with LOOP seems to be one way, me to them... i have never received a single SAT from a LOOP channel...

Maybe it is the nodes i am connected to, seems to be one way traffic. Anyhow, it seems you have 2 options, more/larger channel or higher fee or both... maybe 3 options

This third channel i have opened with LOOP seems to be the longest in duration... but still only one way.

On a side note, don't open any channels unless your fees are set according to the mempool. I thought i had lost 28,000,000SAT (0.28BTC)... Mempool was 30mb, but i did the tightass thing as set 1sat/vbyte instead of the recommended 8sat/vbyte...

Transaction was stuck in the mempool for most of the day, then pow! it disappeared!... my LND was showing unconfirmed onchain balance of 0 and the transaction was missing in the mempool! but the LN channel was still pending.

NOTE: if that ever happens to you, restart LND, it will rebroadcast the pending channel to the mempool and show the correct balances. Pheww!... was going close all the channels and throw it in the bin if it didn't fix itself!

[LFC_Bitcoin]

Is this some kind of a scam?

Anyway whatever…


Edit:
Definitely a scam… heart broken.
https://www.instagram.com/p/uWYjsYS4w5/?utm_medium=copy_link

Some real bitcoin girls -

https://twitter.com/satoshi_babe?s=21
https://twitter.com/natbrunell?s=21
https://twitter.com/coincornermolly?s=21
https://twitter.com/girlgone_crypto?s=21
https://twitter.com/jamiestuckert?s=21


Satoshi Babe & Girl Gone Crypto sometimes shill shitcoins sadly. Nat Brunell, Jamie Stuckert & Molly are bitcoin only.

[ChartBuddy]

Explanation

[jojo69]

[OutOfMemory]

Hey-Ho!

Crypto tax on the horizon in my country  
The blueprint accounts 27,5% capital gains tax when selling BTC/crypto.
Swapping from crypto to crypto or stablecoin is not a taxable event, though.

This leaves me to use BTC/crypto to buy things (tax free).

The only thing that leaves me confused is that BTC is legal tender in El Salvador, and the blueprint of the law defines selling as "changing into a legal tender".
So maybe BTC is an exception to the rule and "taxically" untouchable?

Edit: on the other hand, income tax, which was to be paid for short-term gains (under a year, also for swapping), will be a thing of the past for crypto  

[ChartBuddy]

Explanation

[Dabs]

They're all good. Maybe chicken, then beef, then shrimp, in that order.

The only thing that leaves me confused is that BTC is legal tender in El Salvador, and the blueprint of the law defines selling as "changing into a legal tender".

I really like that Bitcoin is officially legal tender in El Salvador, but does that make it legal tender per usual definitions in other countries as well? It may not be.

[shahzadafzal]

Enough is enough…
“Bitcoin CEO to increase prices to combat inflation.” ✅



https://twitter.com/gaborgurbacs/status/1457862537228263427?s=21

[strawbs]

Well hi there Gents - been away for a while on some RL stuff and have been unable to post. Sorry to have missed the ATH with you all but great to see it popping in any case. Hope everyone's enjoying these splendid times 

[strawbs]

Hey-Ho!

Crypto tax on the horizon in my country  
The blueprint accounts 27,5% capital gains tax when selling BTC/crypto.
Swapping from crypto to crypto or stablecoin is not a taxable event, though.

This leaves me to use BTC/crypto to buy things (tax free).

The only thing that leaves me confused is that BTC is legal tender in El Salvador, and the blueprint of the law defines selling as "changing into a legal tender".
So maybe BTC is an exception to the rule and "taxically" untouchable?

Edit: on the other hand, income tax, which was to be paid for short-term gains (under a year, also for swapping), will be a thing of the past for crypto  

I was just trying to remember where I read or heard about this (but my memory failed, and I'm not sure which jurisdiction/s this would apply to), but somewhere recently I came across the following notion:

Exchanging from one currency^# to another is not a taxable event (otherwise trillions of dollars of currency exchanges would been taxed each day). Now that El Salvador has accepted Bitcoin as legal tender, an exchange from any fiat currency to Bitcoin is now simply a currency exchange event and therefore not a taxable event.

(^#I remember something about the currency having to be recognised by the World Bank or IMF or something - which would automatically have to happen once a sovereign state accepts and uses it as legal tender)

I'm not sure how this would stand up with IRS, HMRC etc but it seems like a plausible defence of not paying taxes on what could be argued to be a currency exchange event - from BTC to fiat.

I wish I could remember where I first heard this idea discussed, but it seemed worth mentioning and perhaps worthy of some further investigation...

[LoyceV]

Crypto tax on the horizon in my country  
The blueprint accounts 27,5% capital gains tax when selling BTC/crypto.

Can you sell and buy back before the tax is implemented, so you realize the gains already?

[ChartBuddy]

Explanation

[wachtwoord]

Hey-Ho!

Crypto tax on the horizon in my country  
The blueprint accounts 27,5% capital gains tax when selling BTC/crypto.
Swapping from crypto to crypto or stablecoin is not a taxable event, though.

This leaves me to use BTC/crypto to buy things (tax free).

The only thing that leaves me confused is that BTC is legal tender in El Salvador, and the blueprint of the law defines selling as "changing into a legal tender".
So maybe BTC is an exception to the rule and "taxically" untouchable?

Edit: on the other hand, income tax, which was to be paid for short-term gains (under a year, also for swapping), will be a thing of the past for crypto  

Australia?

[Dabs]

I was just trying to remember where I read or heard about this (but my memory failed, and I'm not sure which jurisdiction/s this would apply to), but somewhere recently I came across the following notion:

Exchanging from one currency^# to another is not a taxable event (otherwise trillions of dollars of currency exchanges would been taxed each day). Now that El Salvador has accepted Bitcoin as legal tender, an exchange from any fiat currency to Bitcoin is now simply a currency exchange event and therefore not a taxable event.

(^#I remember something about the currency having to be recognised by the World Bank or IMF or something - which would automatically have to happen once a sovereign state accepts and uses it as legal tender)

I'm not sure how this would stand up with IRS, HMRC etc but it seems like a plausible defence of not paying taxes on what could be argued to be a currency exchange event - from BTC to fiat.

I wish I could remember where I first heard this idea discussed, but it seemed worth mentioning and perhaps worthy of some further investigation...

That is what I am wondering too. But if one country accepts something as legal tender, is it still legal tender in the country where you are (assuming you are not in El Salvador). They accept US dollars as legal tender but so do many other countries and the US dollar being considered a currency is not much of an issue. Just because one country accepts bitcoin as legal tender, it may not mean the same thing in other countries. They probably imply that currencies must be fiat. There is no gold standard for any currency at all anywhere.

[rdbase]

wen $69,420?

When it happens, you will know.

[OutOfMemory]

Hey-Ho!

Crypto tax on the horizon in my country  
The blueprint accounts 27,5% capital gains tax when selling BTC/crypto.
Swapping from crypto to crypto or stablecoin is not a taxable event, though.

This leaves me to use BTC/crypto to buy things (tax free).

The only thing that leaves me confused is that BTC is legal tender in El Salvador, and the blueprint of the law defines selling as "changing into a legal tender".
So maybe BTC is an exception to the rule and "taxically" untouchable?

Edit: on the other hand, income tax, which was to be paid for short-term gains (under a year, also for swapping), will be a thing of the past for crypto  

I was just trying to remember where I read or heard about this (but my memory failed, and I'm not sure which jurisdiction/s this would apply to), but somewhere recently I came across the following notion:

Exchanging from one currency^# to another is not a taxable event (otherwise trillions of dollars of currency exchanges would been taxed each day). Now that El Salvador has accepted Bitcoin as legal tender, an exchange from any fiat currency to Bitcoin is now simply a currency exchange event and therefore not a taxable event.

(^#I remember something about the currency having to be recognised by the World Bank or IMF or something - which would automatically have to happen once a sovereign state accepts and uses it as legal tender)

I'm not sure how this would stand up with IRS, HMRC etc but it seems like a plausible defence of not paying taxes on what could be argued to be a currency exchange event - from BTC to fiat.

I wish I could remember where I first heard this idea discussed, but it seemed worth mentioning and perhaps worthy of some further investigation...

Which i sure will do and keep you guys updated on this, of course.
Aside of this, every Satoshi i bought before Feb. 28th 2021 is tax-free if sold for fiat, unless i sell before 1st of Mar. 2022. Then the "old" regulation applies (added to income tax). So let BTC moon until Feb 28th next year and i can get in with the majority of fiat and only pay with Bitcoin in the future.

* OutOfMemory dreams on...  

Crypto tax on the horizon in my country  
The blueprint accounts 27,5% capital gains tax when selling BTC/crypto.

Can you sell and buy back before the tax is implemented, so you realize the gains already?

Yes, as long as i only sell the portion of my stash that was bought no less than one year before the actual law will be put in effect (2022/03/01)
...which is the majority. JJG posted several times about the importance of perfectly timing the top and bottom, which you just can't as a human being, unless you are savetherainforest