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

[d_eddie]

Accounting Standards Update 2023-08 might be an important contribution to the special status of this bull cycle. It has been mentioned before, but the consequences haven't struck me until now.

With the old rules, if you had bitcoin on your balance and you bought low, you'd still look (balance wise) as poor as when you bought it. With the new rules, you appear to be as rich (balance wise) as the bitcoin price allows.

I hope this won't be a precursor of taxing the 'unrealized capital gains'.

I don't know the tax code too well, but I doubt they would (or could) do that to companies.

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[Richy_T]

Hey Guys,  Dune Too for free:

Needs one of the Harkonens to pop up at the end for a shock gif.

[AlcoHoDL]

Here we go again.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[El duderino_]

Here we go again.

https://m.youtube.com/watch?v=q3ob19pQNJA&pp=ygUUZG14IGhlcmUgd2UgZ28gYWdhaW4%3D

[El duderino_]

Bitcoin soars high,
Sixty-two thousand dollars,
Vegeta's new peak.

[xhomerx10]

Here we go again.

 please be talking about bitcoin... please be talking about bitcoin... please be... damn!

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[vokain]

Bitcoin soars high,
Sixty-two thousand dollars,
Vegeta's new peak.

62 is cheap compared to what people will be paying

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Chibit01]

Accounting Standards Update 2023-08 might be an important contribution to the special status of this bull cycle. It has been mentioned before, but the consequences haven't struck me until now.

This update to accounting rules states that some assets (you know the C word? Well, bitcoin in particular) have to be accounted at fair value in balance sheets. "Fair value" in this context is basically market value. It used to be different: With the old rules, if you had bitcoin on your balance and you bought low, you'd still look (balance wise) as poor as when you bought it. With the new rules, you appear to be as rich (balance wise) as the bitcoin price allows.

The update will become mandatory at the end of 2024, but companies could opt in by the end of 2023. Some well known entrepreneurs opted in as early as they could. Guess one name? Michael "Lazereye" Saylor.

Why is this such a big deal? Because it allows companies to stuff btc in their balance sheets in place of cash or gold; btc that can be bought, hedl there and left to grow, selling only when necessary. In other words, the new rules could (and I'm guessing, will) turn several companies (again: think MicroStrategy) into followers of JimboToronto's way:

"Buy whenever you can, sell only when necessary."

We still have no idea what's coming, guys. Or should I say gentlemen?

 Well I will suggest that you can buy whenever you want and still sell your bitcoin at your own will because change can actually happen at any given time it be today tomorrow or next probably it can also be very high before the end of this month or as time goes on......

[AlcoHoDL]

Chart Buddy slappin'.
Will Smith vs. AI bot.
He don't stand a chance!

Saylor buys again...
How many coins are enough?
You greedy bastard!

Fast trains and rockets.
Not even Musk can compete.
Faster-than-light speed!

Apple Watch or Gear,
No watch is ever complete,
Without the Chopper!

PlanB chart revived.
First red dot showing the way,
To nine hundred k!

Shuriken timer?
Looks like a blender to me.
Careful with that thing!

What an awesome week!
10k up since last Sunday.
Way to go, Bitcoin!

#7wodigestsundayhaikus

[bitcoinPsycho]

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[WatChe]

About who are next to adopt Bitcoin:

Michael Saylor’s Talk at Bitcoin Atlantis 2024 in Madeira
https://www.youtube.com/watch?v=_dtCYRDL4yc

Michael Saylor can talk about Bitcoin the whole day and one can keep listening to him. This guy steals your attention while he speaks.

"One day I believe Apple, Microsoft and Google they will all integrate Bitcoin and Layer 2 protocols like lightning into there phones, into there computers, into there web services, into there cloud services ... "

[xhomerx10]

About who are next to adopt Bitcoin:

Michael Saylor’s Talk at Bitcoin Atlantis 2024 in Madeira
https://www.youtube.com/watch?v=_dtCYRDL4yc

Michael Saylor can talk about Bitcoin the whole day and one can keep listening to him. This guy steals your attention while he speaks.

"One day I believe Apple, Microsoft and Google they will all integrate Bitcoin and Layer 2 protocols like lightning into there phones, into there computers, into there web services, into there cloud services ... "

..their phones
   ... their computers
       ...their web services
          ...their cloud services
There. Fixed it.

[bitserve]

Accounting Standards Update 2023-08 might be an important contribution to the special status of this bull cycle. It has been mentioned before, but the consequences haven't struck me until now.

With the old rules, if you had bitcoin on your balance and you bought low, you'd still look (balance wise) as poor as when you bought it. With the new rules, you appear to be as rich (balance wise) as the bitcoin price allows.

I hope this won't be a precursor of taxing the 'unrealized capital gains'.

I don't know the tax code too well, but I doubt they would (or could) do that to companies.

I don't know about other countries but... As an example, in Spain there are some investments like funds (not sure about Bitcoin specifically as I don't have any company owning Bitcoin) that companies do need to update at end of year to its "market value" and adjust profit/loses according to it no matter if the company didn't sell. Individuals are NOT required to do this unless they sell though.

So I wouldn't be that much surprised if that is already the same case of other countries nor about them adopting it in the future (because states always tend to adopt the more favorable/profitable tax rules... for them).

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[AlcoHoDL]

About who are next to adopt Bitcoin:

Michael Saylor’s Talk at Bitcoin Atlantis 2024 in Madeira
https://www.youtube.com/watch?v=_dtCYRDL4yc

Michael Saylor can talk about Bitcoin the whole day and one can keep listening to him. This guy steals your attention while he speaks.

"One day I believe Apple, Microsoft and Google they will all integrate Bitcoin and Layer 2 protocols like lightning into there phones, into there computers, into there web services, into there cloud services ... "

...their phones
   ...their computers
      ...their web services
         ...their cloud services
There. Fixed it.

jbreher would be proud.   (...and the necessary OCD FTFY on your quoted post above.)

[Paashaas]

Bitcoin could break ATH upcoming week.