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

[niothor]

I am waiting to see how the "reported" volume on huobi will change.
If there will be no change  there will be a lot of people who will ask themselves why did the the price drop based on the so called china ban.

And until know it seems the volume is untouched.

I thought we were working on the presumption that the majority of the volume is fake anyway 

From my point of view that volume is artificially inflated by trades like +2-1-2+1  but there a lot of people who are influenced by huobi and their 100 real coins that are traded there.

[wachtwoord]

Just read over on reddit that Germany classifies BTC as "private money".  This is some good news.

Isn't that very old news?

[niothor]

http://cointelegraph.com/post/bitcoin_becomes_private_money_in_germany#.U1TqZ_l_vpJ

those "news" are almost a year old. in bitcointimeframe this is a whole decade... 

Original article quoted in that article:
http://www.welt.de/finanzen/geldanlage/article119086297/Deutschland-erkennt-Bitcoin-als-privates-Geld-an.html
16.08.13

That's why everybody should check the news those blogs that have started popping up like mushrooms are publishing

[chessnut]

....... really seems like it was all over nothing.

[UnDerDoG81]

http://cointelegraph.com/post/bitcoin_becomes_private_money_in_germany#.U1TqZ_l_vpJ

those "news" are almost a year old. in bitcointimeframe this is a whole decade...  

Original article quoted in that article:
http://www.welt.de/finanzen/geldanlage/article119086297/Deutschland-erkennt-Bitcoin-als-privates-Geld-an.html
16.08.13

That's why everybody should check the news those blogs that have started popping up like mushrooms are publishing

The problem ist to prove that you have the coins more than a year. Thats what people in germany discuss in other boards.

[ShroomsKit]

Another China pump and dump is my guess. It will suddenly stop and go down again. This happened how many times now already?

And everybody fell for it again
As always the holders are the only winners here.

Three almighty assumptions right there ^^

does everyone include yourself?

are the holders the only winners?

IS it just another chinese pump and dump?

Yes.

hmmm well I can believe the first one.

[chessnut]

H&S in tact, market stable, outlook remains bullish.

[ChartBuddy]

Explanation

[roslinpl]

When we gonna have never voting poll?  :-) current one is out of date ... :-)

[dreamspark]

When we gonna have never voting poll?  :-) current one is out of date ... :-)

Im sure Adam will come and change it once he's done eating all his easter eggs 

[boumalo]

uh oh, bouncing off the trend line!

Your best hope for a bull market is for someone besides Houbi to start leading. Because an exchange that's difficult to get fiat into is not going to rally us very far.

Someone from Bitstamp then

That was a short lived little rally we just had. I would like us to be able to sustain at least $515 levels and then slowly grow upwards from there. Any rapid rises can never be sustained because there are always people waiting to take some profits off of the table.

On the other hand if the rise goes high enough the short need to cut their positions which makes us go higher; a lot of traders are looking for the price to break a few resistances to get back in

[billyjoeallen]

So price is down more than 10% in a week. Volume is low. It appears that panic buying is a low probability outcome.

[molecular]

Just read over on reddit that Germany classifies BTC as "private money".  This is some good news.

bullshit. read the thread on reddit. It's old news. Very old.

Also: what that article suggests ("germany passed some kind of bitcoin law", "private bitcoin trading is tax-free") is wrong. Trust someone who payed taxes for bitcoin sales in 2011 and 2012 on this. I didn't do this for fun, but because of men with guns and tiny rooms with bars on the windows.

[molecular]

We must be bored if we're fretting over 5% price movements 

I'm bored beyond belief. I already watched a movie today (!!).

Ususally this means it will get exciting again at some point in the future.

[molecular]

The problem ist to prove that you have the coins more than a year. Thats what people in germany discuss in other boards.

It's not a problem. There are different ways to do this (without using the blockchain) that work well enough in many cases.

[ChartBuddy]

Explanation

[frienemy]

I might have to move to Germany at some point (free travel within the EU anyway) but I'm not sure when the one year will commence then. From when I bought it or from when I moved country?

From when you bought. Your gains are becoming taxable the instant you sell the coins (even if you leave the  fiat on the exchange).

I'm working in a tax office in Germany, so I'm not talking complete bullshit ^^

[flynn]

weekly and daily, Log

[ChartBuddy]

Explanation

[frienemy]

Thanks! Might be difficult to prove the real origin as many of my Bitcoins have been traded (loaned/invested etc) within the Bitcoin community many times. Maybe just showing that the transactions the filled my addresses are >1 year ago is sufficient though?

I don't think that will be sufficient. There's no way to tell right now. If you have bitcoin gains in your tax return, this tax return is going to be a preliminary one anyway, because no one is sure how to handle it exactly. That will be the case for at least a few years.