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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[1714276513]

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[1714276513]

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[AlcoHoDL]

Got so many calls,
From old friends who ignored me,
Asking how it's done.

"Google it" I say.
"Google what?" I hear some cry...
"Click here" I reply!

#pleasemakeitstophaiku

That is funny, but it is not very nice... and I suppose it depends on the "friend."

I know that it can get annoying to continue to have to say the same thing to people and they continue to ignore us and they fail/refuse to act and/or to take responsibility for their own research, due diligence and also taking proper steps rather than having to get spoon fed and hand holding along the way..

There are ONLY so many hours in the day... and yeah, maybe if they came to you after having had done some proper research, then surely there is information out there.. but sometimes they might still need to be guided to help to know the difference between good information and information that is not so good.

I am not completely disagreeing with your seeming saltiness, but there are virtues in patience too.. .. maybe een to suggest an assignment and then have them come back to you after they did the assignment.

[...]

The next haiku in the sequence completes the story:

I may play it tough,
I may smile while I'm angry,
But I always help.

Sad part is, many of them end up at a loss by selling the next dip. What to do? What to do?

[Amphenomenon]

Oh yes, Sunday now
Weekend dump before the pump
Healthy correction

BTC is really for the strong hearted... and those who look at it from macro-level.

Just when we are all enthralled with the enthusiasm of $100k price, it is already heading north not because it is the right direction at this time but just to prove that no one can accurately predict its movement. The best we can do while it decides what it wants to do. Anyways, 1BTC = 1BTC, and you only lose when you sell.

Now I see why people do this "1BTC = 1BTC" thingie...

It is because it is so difficult to keep track of its price... but still. it just isn't saying anything... even though maybe someone is using the expression to say to hang onto your BTC and/or stack more of them if you can no matter how much they might cost in terms of fiat.  Even though I don't really disagree with it, I still don't really like the expression.

I saw this yesterday, we can how past predictions is failing already, 2030 $90,962.23 when in reality we are expecting $100k around this year and next year.
Bitcoin price in the long term is not predictable. I agree with the 1BTC = 1BTC.

In the end what matters is to keep stacking because nobody may get the actual price but this we know that HODLing bitcoin will make us rich.
I have a question, do you think anyone doing DCA should switch to Lump Sum strategy?
Since we are aware of the up bitcoin halving in a month+ from now and getting bitcoin during at that time will helps us acquire more quantity of bitcoin in comparison with the quantity we can acquire through DCA now to that time

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

What tools do you guys use for figuring out your tax obligations?

edit: for your bitcoin transactions I mean

not selling 

[goldkingcoiner]

Good morning, WO.

You guys had a good weekend?

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[El duderino_]

Good morning, WO.

You guys had a good weekend?

Yes rather good….

Also had a good morning

First wod was For time
800m run
5 rounds of
5 strikt pull ups
15
Air squats
800m run
-> 10.40 not the worst time

Then after that a team wod with 3

3k bike together (each person on a bike 3k)
115 pull ups
115 wall balls
115 DB snatch
115 front squats
115 HR push ups
115 front rack lunges
115 tricep dips
3k bike together

The reps split how you wish…

Around 45-50 min work out

Now time for dinner

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[In the silence]

Good morning $68k
Jogged 12 kilometers today while thinking about bitcoin.

[vapourminer]

What tools do you guys use for figuring out your tax obligations?

edit: for your bitcoin transactions I mean

i use bitcoin.tax website, basically because i used it early on and never bothered to explore anything else. prints out paper form 8949 (short and long term capital gains) and exports a 8949 spreadsheet in .CVS for you. this is for usa.

basically you import all trades at all exchanges via API or .CSV it does the rest.

cost depends on trade volume. under 20 trades is free.

obviously theres no privacy but this is the usa, we have no privacy anyway so..

edit not affiliated in any way.
 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

What tools do you guys use for figuring out your tax obligations?

edit: for your bitcoin transactions I mean

My accountant.

Capital gains are capital gains, whether Bitcoin or otherwise.

Edit: My accountant is not a tool. Actually, he's a nice guy. Pisses some people off though... bit of an attitude.

 I should look into an accountant - I hear they can generally find some deductions/tax breaks I'm missing out on.  I don't have to worry about the current tax filing since I didn't sell anything but I want to be prepared.  Thanks JimboT!

USA IRS?  In the past I've used Koinly exporting to HRBlock Deluxe.
I think Koinly is great for just tracking, or double checking your numbers.  You can set up the full account, just without downloading tax form privilages, for free.   Connect your wallets. or upload transaction pdfs, or manually input cost basis.  It will show your profits, balances, taxes due, just not export it.

Code:

https://koinly.io/

 
https://koinly.io/

 Thanks for the excellent summary, DirtyK   I had heard of Koinly but hadn't checked it out yet - nice to know someone who has used it!
 
 

 Koinly treats not-merged txns (from exchange to your own wallet) as profit, lol.
 It requires, basically, to check each and every txn and see that it is "merged".
 https://support.koinly.io/hc/en-us/articles/9917573707676-How-Koinly-handles-transfers-between-your-own-wallets
 
 Imho, if you only have a dozen or less txn/year, then no need for koinly shmoily.
 If hundreds, then maybe OK, providing that you have time to "merge" the misbehaving txns.
 

  Awesome heads up Biodom!  Thanks.
I doubt I'll have many txs actually.  In the past when I have used bitcoin for purchases, I regretted it immediately and bought them back within days.

I usually only have 1 sell per year so taxes aren’t all that difficult. Especially if you consider taxes beforehand and make sure that the amount you sell corresponds with an amount that you can easily show a cost basis for. That simplifies things a great deal.

 This is more likely my style but an acquaintance showed me the record of a sale of a small amount of bitcoin from an exchange and even though he sold much less than one bitcoin in what he thought would be one transaction,  there were many, many small transactions as buyers nibbled away at it.  I would think if it was all at the same time and for the same price, there would be no need to break it down like that though. Thanks OgNasty.

not selling 

 I know, I know.   It's not like I need the money so I'm back to JimboT's "only sell when you have to" advice.  It's just going to be so tempting.
Thanks Gachapin!  You're the voice of strength.   💪

i use bitcoin.tax website, basically because i used it early on and never bothered to explore anything else. prints out paper form 8949 (short and long term capital gains) and exports a 8949 spreadsheet in .CVS for you. this is for usa.

basically you import all trades at all exchanges via API or .CSV it does the rest.

cost depends on trade volume. under 20 trades is free.

obviously theres no privacy but this is the usa, we have no privacy anyway so..

edit not affiliated in any way.
 

 Nice to know there are other options that have been around for a while.  Thanks vapourminer.  I'll check it out.

[vapourminer]

[one trade]  This is more likely my style but an acquaintance showed me the record of a sale of a small amount of bitcoin from an exchange and even though he sold much less than one bitcoin in what he thought would be one transaction,  there were many, many small transactions as buyers nibbled away at it.  I would think if it was all at the same time and for the same price, there would be no need to break it down like that though. Thanks OgNasty.

same here, one sell or buy can result in dozens of separate trades on exchange. and yup, a pain in the ass.

i pay quartely estimated taxes on my own and then i just give everything to my accountant at the end of the year.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[criptoevangelista]

Where's that multimillionaire guy to pump up bitcoin and make our week more exciting?

Make us happy 

[goldkingcoiner]

Good morning, WO.

You guys had a good weekend?

Yes rather good….

Also had a good morning

First wod was For time
800m run
5 rounds of
5 strikt pull ups
15
Air squats
800m run
-> 10.40 not the worst time

Then after that a team wod with 3

3k bike together (each person on a bike 3k)
115 pull ups
115 wall balls
115 DB snatch
115 front squats
115 HR push ups
115 front rack lunges
115 tricep dips
3k bike together

The reps split how you wish…

Around 45-50 min work out

Now time for dinner

All that in just one morning? Wow. The dude keeps his body in tip-top health. I took a 30 minute bicycle ride and did my daily pushups

[tertius993]

Honestly we could be anywhere from Belief to Complacency ...

You mean the top might be already in?  

Puh-leeze, geddaddaaheeeeya...  

I'm not saying either that I think it is or that I want it to be, merely that it could be ...

We seem to be exploring new ground this cycle ... with a new high before the halving, etc. ... one should be prepared for all eventualities.  However, as I have said before its very hard to extrapolate with any sort of accuracy from a small number of data points.

[El duderino_]

Yes one morning