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

[OgNasty]

Remember when you could buy Bitcoin for under $100,000. That was cool.

Looks like this week’s White House plans are getting a little movement going in the markets. The only thing I’m crossing my fingers for is the elimination of capital gains taxes on Bitcoin, which seems like a pipe dream.

[leonair]

Remember when you could buy Bitcoin for under $100,000. That was cool.

Looks like this week’s White House plans are getting a little movement going in the markets. The only thing I’m crossing my fingers for is the elimination of capital gains taxes on Bitcoin, which seems like a pipe dream.

Yes, there is a big FOMO on Bitcoin where the price of Bitcoin is increasing at a rapid pace. The expectation that the price of Bitcoin will hit $108k to $123k in just 1 week was very low. And many thought that $111k might be the ATH of Bitcoin but now it seems that Bitcoin's ATH is $150K, which would not be surprising. However, those who were able to buy Bitcoin below $100k and bought and held are now counting a lot of profits. And that is why those who believe in Bitcoin and plan to hold it for the long term always get better results. Bitcoin always gives financial advice to investors and only those who can hold it for the long term can enjoy it.

[bangjoe]

Remember when you could buy Bitcoin for under $100,000. That was cool.

Looks like this week’s White House plans are getting a little movement going in the markets. The only thing I’m crossing my fingers for is the elimination of capital gains taxes on Bitcoin, which seems like a pipe dream.

The government is demanding tax on your Bitcoin profits, especially since Bitcoin continues to provide profits to its holders. Who wouldn't be tempted? It's a different story when you're experiencing losses (a decline), it's as if they never see you and don't even care.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[d_eddie]

The only thing I’m crossing my fingers for is the elimination of capital gains taxes on Bitcoin, which seems like a pipe dream.

It sounded like that to me too, but Biodom explained that it would only be for unsold bitcoin coming from mining. That would be reasonable and could be possible in today's climate.

Here it is: https://bitcointalk.org/index.php?topic=178336.msg65587907#msg65587907

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

The only thing I’m crossing my fingers for is the elimination of capital gains taxes on Bitcoin, which seems like a pipe dream.

It sounded like that to me too, but Biodom explained that it would only be for unsold bitcoin coming from mining. That would be reasonable and could be possible in today's climate.

Here it is: https://bitcointalk.org/index.php?topic=178336.msg65587907#msg65587907

The senate will have to slip the no capital gains tax in at the last minute. That isn’t something you start the negotiation process with. It’s something you slip in at midnight before a vote knowing that everyone has already been bought off to vote yes. It would most likely only be included in the final version of a bill they vote on to send to the President’s desk.

[Yorubek]

CNBC reports "over the next 2 days, the House is set to
pass 3 major bills that the crypto industry has been asking for.
https://x.com/BitcoinMagazine/status/1945522018071326897?t=19

[OgNasty]

First the vote got shot down and then they added a 3rd bill and it passed? I’m confused, but the last few minutes has seemingly brought us approval of the GENIUS, CLARITY, and Anti-CBDC bills. I guess I’ll have to wait for a legitimate source to explain what just happened. Seeing a lot of conflicting information currently.

[Biodom]

Procedural vote cleared:

https://www.reuters.com/legal/government/us-house-clears-procedural-hurdle-cryptocurrency-legislation-2025-07-16/

[yixichloro2xx]

Remember when you could buy Bitcoin for under $100,000. That was cool.

Looks like this week’s White House plans are getting a little movement going in the markets. The only thing I’m crossing my fingers for is the elimination of capital gains taxes on Bitcoin, which seems like a pipe dream.

Yeah, buying Bitcoin for under $100K already feels like a thing of the past  and it was not even that long ago.
‎
‎About the White House plans, any small move toward clearer rules or tax breaks will always cause some reaction in the market. But removing capital gains taxes on Bitcoin completely?...... That is probably just wishful thinking. It would be a huge deal, but honestly, taxes are one of the few tools the government still uses to control crypto. If they make any changes, it will likely be small adjustments, not a full removal.
‎
‎Still, the fact that Bitcoin is even part of serious government discussions now shows how far it has  come.....

[philipma1957]

If that passes I will do well.

I expanded my hosted mine and hodled every coin it mined since last August.

Some nice gains on the 8-1-2024 to 11-4-2024 mined coins.

And some nice gains on the 2-1-2025 to 5-1-2025 coins.

Getting this to be tax free is worth a lot to me.

[d_eddie]

If that passes I will do well.

I expanded my hosted mine and hodled every coin it mined since last August.

Some nice gains on the 8-1-2024 to 11-4-2024 mined coins.

And some nice gains on the 2-1-2025 to 5-1-2025 coins.

Getting this to be tax free is worth a lot to me.

I think it's tax free only unti you sell. When you do, it's not clear what the base price (for the calculation of gains) would be. Probably 0, but I guess you could subtract energy, hardware depreciation etc. You sure know your tax stuff.

[El duderino_]

TML main stage on fire.... curious whats gonna happen now

[Biodom]

TML main stage on fire.... curious whats gonna happen now

TML?

[d_eddie]

TML main stage on fire.... curious whats gonna happen now

TML?

Tomorrowland, a big festival

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

If that passes I will do well.

I expanded my hosted mine and hodled every coin it mined since last August.

Some nice gains on the 8-1-2024 to 11-4-2024 mined coins.

And some nice gains on the 2-1-2025 to 5-1-2025 coins.

Getting this to be tax free is worth a lot to me.

I think it's tax free only unti you sell. When you do, it's not clear what the base price (for the calculation of gains) would be. Probably 0, but I guess you could subtract energy, hardware depreciation etc. You sure know your tax stuff.

To me it there would not be any cap gains in this scenario. Instead income=value accrued from mined btc sell. Then, profit=income minus expenses.
Small negative cap gains would result from the fee selling mined btc on exchange.
All non-mined btc (that was bought or otherwise accrued...like faucets) would have cap gains calculated the same as for selling of stocks, etc.

[El duderino_]

TML main stage on fire.... curious whats gonna happen now

TML?

Biggest festival.... Belgiums pride, my home every last weekend of July

mainstage is a true ravage ...

[Biodom]

TML main stage on fire.... curious whats gonna happen now

TML?

Biggest festival.... Belgiums pride, my home every last weekend of July

mainstage is a true ravage ...

Tomorrowland burning? not a good vibe.
Be careful out there...El duderino.