Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 40. (Read 907247 times)

I assume you'd need to declare the capital gain on the coins you're paying with. I can't really see them coming up with custom legislation. How many people in the UK have 100 BTC? A couple of thousand? By the time it's everywhere the silly gains will be long since completed.

That will vary from country to country. If the country you live in starts with bank bail-ins - expect them to try and come after all wealth.

Impossible to say what future taxes in any country would be like...

What do you think are the best ways to do so for us common mortals (ie non-whales)?

I get nervous just thinking about thw new ath because I have no idea how I would proceed!

I could think of a few "socialist" laws, that steal big parts of your money because it is not "fair" to the society, that you become rich just by spending 1000$ in 2012 on bitcoins.  

Mr pietila,

What tax implications do you think will be set up for people in the future who don't cash out btc to fiat?

For example I make...let's say £500,000 from 100btc (which I don't have but is an example) in the years down the line.

I then am able to buy a property WITH btc. How can that be taxed?

Thanks.

I have the feeling that the uptrend is slowly getting started. My hunch is that there is a good chance that this one will carry us to quite high values.

Caveats:
- I think it will be slow. Much slower than the culmination of the 2013 uptrend(s). If we put this in perspective of the time after the 2011 peak and downtrend, we are now emerging from the "$5 plateau", with perhaps a year more before hitting even the old ATH.
- The banksters are getting Bitcoin in their grip. The combination of extensive controls, AML/KYC, exchange failures, shorting, etc. means that no honest person has much business trying to affect the price. It will go where they want it to go, within bounds of course. They have managed it to stay low for this long, but cannot do it indefinitely
- Selling will be difficult, because at the apex of the bubble, ordinary old guard people will have million$ worth of BTC, and it's even possible that special taxes will be enacted by govts to capture most of the value from recorded sales (selling such amounts off-record and buying anything with the proceeds off-record is an activity not reserved for honest people in our current system).
- Because of the high cost of selling, not much coin will enter the market quickly enough, making the peak quite steep, as the previous peaks also have been. When the price doubles in a week, it's time to exit, and better have thought the way to do it in advance.

I would abstain from selling now, except for immediate cash flow needs. It is more likely that every month from now the price is higher, so delaying is advantageous. When the old ATH is broken, things get interesting. My sell zone starts from $3000 as I have said many times starting from more than a year ago

Enjoyed chat about gravity/anti gravity earlier thought some might be interested in this, Electric Gravity

http://www.holoscience.com/wp/electric-gravity-in-an-electric-universe/

Considering that the premium for ASEs, maples etc is pretty much a fixed number (say 1-2$), the lower the price of 1oz, the higher the "premium" you have to pay due to the fixed mint/reseller profit margins.

At 20$/1oz if you pay an extra 2$ to buy a 1oz maple or ASE, it's just +10%.
At 10$/1oz, if you pay an extra 2$ (-if not more due to physical shortages at these price levels-) to buy the same 1oz round, premium goes to 20%.

At that point junk silver might be the better option. Provided there is supply (which will probably be absorbed very fast).

The market always does the exact opposite of what i expect, or at least it takes inordinate amount of time for market to match my 'expectations', which pretty much mostly precludes me from getting much of cap gains in bearish positions (longs are OK for now, except btc).
example 1- thought RE will go down in 2006, but it lingered until 2008
example 2- though that we will never go above Sp500 1576 and make a triple top-but we are at >2100
example 3- bitcoin (thought that $350 was THE bottom)

Re SP500-Hussman was always wrong in the last 3 years, but so was Roger Babson in 1928-1929.
Hussman:
http://www.hussmanfunds.com/wmc/wmc150615.htm
Blodget on Hussman and Babson:
http://www.businessinsider.com/stock-market-crash-coming-2015-6

True indeed but the market was an extremely different place back then. It was almost 100% speculation with a side order of Silk Road and only a few thousand people were involved. You could've been fully justified in believing it could have dwindled to nothing.

This market is still dominated by speculation of course but you can look around in the doldrums and know there's a whole lot more to look to in the future.

I see variations of this same argument in lots of places on this forum but am not sure I agree.
if you believe in a rising bitcoin price longer term which i do (but am bearish short term) then the recent price level of around $230 is very good yet the buyers were not piling in. ie if you are to hold them for a while then a price like $230 should work out fine - ie the return will be alot more than most other opportunites.

if the price went down to say $60 sure you can get 4 times as many bitcoins for $230 as now but other market forces come into play ie the uncertainty that caused it to go to $60 may be the strongest effect on buying patterns.

I do no think the quick recovery from a one off drop to $166 is a reliable guide to anything in the future.

back when the price was $31 and dropped to $2 there was not a sudden influx of money to pull it way up again beyond about the $5 level. While that is not a better (or worse) guide than the quick pull back from $166 it highlights that we really do not know what will happen to the price when it is at certain points.

This is what I don't get about the theory BTC will drop down to below triple digits. Look at the volume on the bounce back up in January off 166. There will be so many people ready to buy around that price again that it is practically an impossibility, except in the event of some catastrophic flaw found in the protocol. 

at 9$ there will be queues to buy monster boxes -with me in.

stock market is not going to pop in October.  Dips can come any time, but we are no where near the peak yet.

The stock market bubbles will pop but it sounds silly to say that it will definitely be in October and not before and not after.

Everything except short end of the sovereign bonds will get smashed going into the October global contagion. After that, bonds will collapse and all private assets will rocket up, including gold, BTC, and US stocks.

The lows for gold and BTC in this coming final hooray for sovereign bonds are going to be severe.

It should be interesting to see how bitcoin performs during a financial crash. People are optimistic that people will run from the S&P and the USD into bitcoin. I think bitcoin will end up getting smashed along with tech stocks.

I divested mostly in the $30s. Perhaps I will be buying again in the $9s as I did in 2008.

But this next time around, I fairly certain I will be buying cryptocurrency instead, because I am fairly certain cash and gold will not be accepted any where, not by dealers nor by regular people except in very rare barter situations that make them nearly useless.

TPTB will cancel the cash and issue electronic money.

Silver at 9$? Party time

Talk about bringing doom and gloom to the party. There was a nice discussion about anti gravity and Mr need war comes in to piss on the fire.

Dear oh dear