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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 23/12/2017, 00:22:59 UTC
Yeah, every trade is a taxable event to US persons. Whether that is buying coffee or litecoin. It is property according to the IRS.

Even if you thought you could get away with the like kind exchange rule, you still have to report every trade individually on the exemption form.

If it were classified as a stock, you could just report net gains and losses but not so with property.

They have made compliance nearly impossible so unless someone passes a law to exempt transactions prior to a certain date, a lot of people are going to owe back taxes and penalties if not jail time.

^^^yes yes everyone saying it's a legit loophole is going to be in for a beating once they realize they took an aggressive position without any basis to do so. Good luck to them, their back taxes and their prison buddies.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 22:51:32 UTC
Liquidity in the altcoin market officially dies Jan 1st:

http://www.zerohedge.com/news/2017-12-22/trumps-tax-bill-may-be-reason-crypto-rout

But that news is also bad for bitcoin as a lot of the bitcoin demand was for gambling in places like the Poloniex casino, so it lowers liquidity for the entire crypto market.

I don't think many traders/investors/HODLERS actually know what a like kind exchange is so I don't think this is the reason for the route.

You're crazy.  The BTC market is controlled by a VERY small number of people moving large amounts of cash.  As soon as bitcoin topped out, the same money that was used to pump BTC was all shifted into altcoins at Poloniex.  These are entities like Pantera capital, Goldman Sachs, etc, constantly going back and forth between coins like BTC and Ethereum.  The people who are actually moving these markets are all utilizing that loophole.  It doesn't matter what the small fish know.

You act like tax law is clear hear when it's definitely NOT.

Taking the position that these transactions qualify as a LKEs is an extremely aggressive position to take tax wise. I sure as hell wouldn't take it.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 22:42:17 UTC
Liquidity in the altcoin market officially dies Jan 1st:

http://www.zerohedge.com/news/2017-12-22/trumps-tax-bill-may-be-reason-crypto-rout

But that news is also bad for bitcoin as a lot of the bitcoin demand was for gambling in places like the Poloniex casino, so it lowers liquidity for the entire crypto market.

I don't think many traders/investors/HODLERS actually know what a like kind exchange is so I don't think this is the reason for the route.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 22:40:41 UTC
breakout confirmed

No way. We still need to break above 16k on stamp to confirm. And even then I'd say don't call a breakout until new highs.

Down channel broken in any event.

Depends on what down channel you are talking about.

The channel is a little rough to draw but the upper line is clear as day in my opinion. We need to get over that, but that won't be an easy task.

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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 22:38:02 UTC
breakout confirmed

No way. We still need to break above 16k on stamp to confirm. And even then I'd say don't call a breakout until new highs.

Down channel broken in any event.

Depends on what down channel you are talking about.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 22:32:26 UTC
I know this link (https://blockchain.info/unconfirmed-transactions) shows total unconfirmed transactions...but does anyone have a link that shows a linear chart over time with the unconfirmed transactions?

Trying to get a feel for the trend. Although I know it's up in general would still like to see it...

https://jochen-hoenicke.de/queue/#all
https://blockchain.info/charts/mempool-count?timespan=all


So the number of unconfirmed transactions was actually worse in June than it is now?
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 22:29:39 UTC
breakout confirmed

No way. We still need to break above 16k on stamp to confirm. And even then I'd say don't call a breakout until new highs.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 22:24:43 UTC
I know this link (https://blockchain.info/unconfirmed-transactions) shows total unconfirmed transactions...but does anyone have a link that shows a linear chart over time with the unconfirmed transactions?

Trying to get a feel for the trend. Although I know it's up in general would still like to see it...
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 03:39:43 UTC
Welp bought a shit ton of BTC, BCH, LTC and ETH tonight hope it works out....

My pittance will be back in at 11k. I can't take the abuse no more

At least my ripple I bought a few weeks back at 25 cents is up over 400%
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 03:34:20 UTC
Welp bought a shit ton of BTC, BCH, LTC and ETH tonight hope it works out....
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 00:52:03 UTC
BTC needs to reclaim and the 10 day moving average and show a green candle on the daily. That would do wonders for market confidence.



too soon for that

we need to drop another 3K and get a good base under us

Possibly, but we've already had 5 red daily candles in a row time to turn green.

The price action at this moment is not looking so bullish though....
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 22/12/2017, 00:15:12 UTC
BTC needs to reclaim and the 10 day moving average and show a green candle on the daily. That would do wonders for market confidence.

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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 21/12/2017, 23:29:50 UTC
I'm going to start to panic soon. I don't like it when Bitcoin goes down a lot, then doesn't come right back up.

If you panic now you might be selling at the bottom. Calm yourself. Go play outside. I don't care if it's dark.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 21/12/2017, 23:04:57 UTC
We have to breakout of this descending pennant pattern. Also getting above 17,300 on stamp would be massively bullish.


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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 21/12/2017, 22:41:53 UTC
I just love diversification and playing the game also it makes life more interesting.


It’s great to play the game with lunch money but I’m not putting my retirement funds in it.

I'd agree. I think we are mostly on the same page except you like to stick more to BTC which is the more prudent thing to do.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 21/12/2017, 22:36:03 UTC
Just bought more BCH and LTC. I have plenty of BTC and other alts. First time my BTC stash is under 40% of my crypto holdings. I'm all about diversification...

At this stage there are more old school bitcoiners that sank their battleship in shit coins than there are old schoolers left.  You have the goose that lays the golden egg and you are willingly giving it up.  Not a smart idea.  The internet is a winner takes all economy.

You can't see into the future so I don't know how you can claim it's not a smart idea. So far it has worked out and if I exchange my alts back to BTC I'd have more BTC.

Diversifying is not only smart. It is usually more profitable. Get with the program.

I have insurance, which is mostly Monero and ETH and less than 10% of my portfolio.  This protects me in case of a wipe out event in Bitcoin. But we both know that when the first Bitcoin ETF is announced early next year, Bitcoin will go vertical and your BTC/Alt pairs will collapse, including my Monero and ETH pairs.

I disagree that we both know that will happen. The only alts I own are mostly in the top 25 by market cap and few outliers that I like the concept of so I have faith in them. There's space for alts and master Bitcoin. I'm still HODLING some Bitcoin from 2014 when I got in so I love Bitcoin. I just love diversification and playing the game also it makes life more interesting.

Edit: Also if my alts keep gaining on BTC in terms of their exchange rate I may convert them all back to BTC only time will tell. I don't have an allegiance to one coin. I know many on here do and that's great, but that's not my style.

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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 21/12/2017, 22:29:38 UTC
Just bought more BCH and LTC. I have plenty of BTC and other alts. First time my BTC stash is under 40% of my crypto holdings. I'm all about diversification...

At this stage there are more old school bitcoiners that sank their battleship in shit coins than there are old schoolers left.  You have the goose that lays the golden egg and you are willingly giving it up.  Not a smart idea.  The internet is a winner takes all economy.

You can't see into the future so I don't know how you can claim it's not a smart idea. So far it has worked out and if I exchange my alts back to BTC I'd have more BTC.

Diversifying is not only smart. It is usually more profitable. Get with the program.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 21/12/2017, 22:14:47 UTC
Just bought more BCH and LTC. I have plenty of BTC and other alts. First time my BTC stash is under 40% of my crypto holdings. I'm all about diversification...
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 20/12/2017, 02:12:06 UTC
Don't be shocked if Coinbase adds Ripple next. If that doesn't show their true colors, I don't know what will.

I presume Coinbase's ultimate aim is to be bought out by Goldman Sachs et al. They are not anyone's friend and don't have anything's best interest at heart other than their own value.

No one should be shocked by this, but I am slightly surprised at the blatantness of this particular move taking place during blockchain spamming, difficulty readjustment, all time high in attention and super high fees.

Coinbase merely added Bitcoin Cash as fast as they could...stop acting like there's a conspiracy behind the time of the release.

Originally they said Jan 1st, 2018 so I'm glad they are ahead of schedule.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
natewelt
on 20/12/2017, 01:40:35 UTC
Lol BCH @ $9500 on GDAX..

I'm furiously trying to sell lol

ME TOO!

but it says "Bitcoin Cash sales are temporarily disabled"

which surprises zero percent...