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

[aminorex]

when you guys cash out big bucks.. do ye pay the capital gains or what? im wonderin how to get around that lol

in the u.s., hold everything in a roth vehicle.  requires foresight.

[deadley]

1.5KK wall around 670, let see it will break or not.

[Asrael999]

There are several banks around the world who are terminating accounts owned by American citizens due to attempted invasive requirements of the American government. It's getting to be quite a problem apparently and the amount of people renouncing American citizenship is spiking.

is it a bubble or a trend ?

If we extrapolate this then pretty soon there will be no Americans left.

[Richy_T]

There are several banks around the world who are terminating accounts owned by American citizens due to attempted invasive requirements of the American government. It's getting to be quite a problem apparently and the amount of people renouncing American citizenship is spiking.

is it a bubble or a trend ?

It's a trend until everything craps out and they repeal a whole bunch of the stupid laws.

[fred1111]

1.5KK wall around 670, let see it will break or not.

That wall is so going to get pulled. It's just there to scare the kids off the lawn.

[Bitbuy]

1.5KK wall around 670, let see it will break or not.

That wall is so going to get pulled. It's just there to scare the kids off the lawn.

I'm not a bear, but I think we're not out of the woods yet...

[MatTheCat]

1.5KK wall around 670, let see it will break or not.

That wall is so going to get pulled. It's just there to scare the kids off the lawn.

Either that or bought by the same entity that placed it there in order to excite the market into action. 0% exchange insider trading fees of course.

[deadley]

1.5KK wall around 670, let see it will break or not.

That wall is so going to get pulled. It's just there to scare the kids off the lawn.

I agree with this kind of wall mostly for scare others But whales have capabilities to eat that if they want.

[DaRude]

What i miss? Oh we're still at 666 ok going back to sleep

[spooderman]

I feel this should be the bitcoin anthem....

https://www.youtube.com/watch?v=5DbWdcCa7NA&hd=1

"When fiat is just a memory..."

[aminorex]

ECB -> announced negative rates and market expecting QE to be announced in 20ish minutes. Get out of them Euro and into them BTC.

+1, did we just witness for one of the first time a macro-related move Yeah !

a major newssite called it the end of capitalism as we know it.

That's a load of sensationalistic journalism, there has been experiments with negative rates various places, though not on such a scale of course.

i don´t think this is sensationalistic journalism. it is the 5th year of the 2008 crisis and they have no other tool than this very last one. if it fails (and i think it will) what will they do next ?

Wealth Taxes and Savings Sequestration

+1  and Europe won't be the last to do it.

[cbeast]

There are several banks around the world who are terminating accounts owned by American citizens due to attempted invasive requirements of the American government. It's getting to be quite a problem apparently and the amount of people renouncing American citizenship is spiking.

is it a bubble or a trend ?

This is out of 330 million, right? The numbers are insignificant compared to the population. Still, it may indicate that someone knows something others don't.

[Cassius]

when you guys cash out big bucks.. do ye pay the capital gains or what? im wonderin how to get around that lol

in the u.s., hold everything in a roth vehicle.  requires foresight.

Looks like he's in the UK (hello...)
As far as I can tell, you're taxed on income at the exchange rate at the time of earning.
Then if your bitcoins appreciate and you cash out, you are liable for capital gains on them, minus the £10k allowance of course.
There may will of course be ways around this for the tax savvy. I just haven't needed to find out yet.

[aminorex]

It's a trend until everything craps out and they repeal a whole bunch of the stupid laws.

That would be a novelty.  More likely they do another iteration of the n^2 thing with more laws.  This works until all the energy is sucked out of the system by rentier skim.  Then the substructure collapses. 

Unless by "repeal" you mean nuke D.C.

[Asrael999]

when you guys cash out big bucks.. do ye pay the capital gains or what? im wonderin how to get around that lol

in the u.s., hold everything in a roth vehicle.  requires foresight.

Looks like he's in the UK (hello...)
As far as I can tell, you're taxed on income at the exchange rate at the time of earning.
Then if your bitcoins appreciate and you cash out, you are liable for capital gains on them, minus the £10k allowance of course.
There may will of course be ways around this for the tax savvy. I just haven't needed to find out yet.

In the UK it depends how you receive them - if you are mining, or receive them for selling a service,  then you are taxed on them as income at the price they were at when you received them. (note if you are a corporate or self employed you can offset allowable business expenses - price of ASIC , electricity, hosting cost etc) also I do not think they attract VAT anymore - that was reversed I think. If you do not sell them immediatley but then sell them in the future at a different price then you pay capital gains tax on the change in value (or get a tax credit if the price has fallen)

EDIT note if you are VAT registered you can reclaim the VAT you paid buying the miner.

If you buy them and sell them (ie trade) then you are liable for capital gains tax on the profits @ 18 or 28%, depending if you are a basic or higher rate taxpayer.

[Richy_T]

This is out of 330 million, right? The numbers are insignificant compared to the population. Still, it may indicate that someone knows something others don't.

You miss the point.

[derpinheimer]

Anyone here actually think that the $670 and/or the $675 wall will be eaten?

[Richy_T]

It's a trend until everything craps out and they repeal a whole bunch of the stupid laws.

That would be a novelty.  More likely they do another iteration of the n^2 thing with more laws.  This works until all the energy is sucked out of the system by rentier skim.  Then the substructure collapses. 

Unless by "repeal" you mean nuke D.C.

Both the US and the UK have reversed some of their ruinous tax policies in the past (Google "Brain drain"). It could be that they won't be able to do it this time but these pols tend to work out which side their bread is buttered eventually.

[rebuilder]

OT, but: The devil's resistance again?

[JimboToronto]

What i miss? Oh we're still at 666 ok going back to sleep

I prefer to think of it as "the 665-667 range".