Explanation
Chartbuddy thanks talkimg.com
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 1010. (Read 26711236 times)
March 18, 2024, 02:03:23 PM
March 18, 2024, 02:02:23 PM
The halving draws near,
With Bitcoin's price on the rise,
Moon-bound, stars align.
With Bitcoin's price on the rise,
Moon-bound, stars align.
There. Now it's a haiku.
One must make mistakes.
Keeping wall observers sharp.
A bitcoiners job.
March 18, 2024, 01:56:40 PM
The halving draws near,
With Bitcoin's price on the rise,
Moon-bound, stars align.
With Bitcoin's price on the rise,
Moon-bound, stars align.
There. Now it's a haiku.
March 18, 2024, 01:19:23 PM
I only understand…
The halving = near.
Halving draws near,
Bitcoin's price on the rise,
Moon-bound, stars align.
The halving = near.
Halving draws near,
Bitcoin's price on the rise,
Moon-bound, stars align.
March 18, 2024, 01:03:56 PM
Are prices falling like this due to recent US inflation data? because if so... I will never be able to understand how all this works based on the macro market...
What seems to happen is: the inflation data was released and psychopathic traders around the world started selling everything automatically? this seems so strange to me... what kind of investors do this?
that's how it works? Can someone more experienced explain?
What seems to happen is: the inflation data was released and psychopathic traders around the world started selling everything automatically? this seems so strange to me... what kind of investors do this?
that's how it works? Can someone more experienced explain?
Don’t buy BTC for a quick overnight buck
Don’t buy BTC when not able to stomach a minor dip (10%ish)
Don’t buy BTC when only $ is in your mind…
Yes! I finished my capital transition to bitcoin in DEC 2022, INFINITE HODL... only DCA lately week, I'm not even going to sell anytime soon, maybe a little at 100k, but I would like to understand the modus operandi of the movement
March 18, 2024, 01:01:23 PM
March 18, 2024, 12:58:31 PM
~snip
You didn't say which jurisdiction you are in.
I assumed you live in Ontario due to advice you gave me several years ago about a lake in the Orillia region.
Are you multi-jurisdictional? I know if you're a USA citizen they'll chase you all over the world for taxes. Does that apply to dual citizenship?
You didn't say which jurisdiction you are in.
I assumed you live in Ontario due to advice you gave me several years ago about a lake in the Orillia region.
Are you multi-jurisdictional? I know if you're a USA citizen they'll chase you all over the world for taxes. Does that apply to dual citizenship?
While I have the option, I decided long ago not to pursue US citizenship. My biggest concern was having to register for the draft but the tax code in the US is insanely complex and one of the hoops to jump through in order to get my citizenship was to file the 10 previous years of income tax forms. In my mind, it wouldn't make sense to pursue it unless I were to take up residence there on a permanent basis and I was already comfortable here.
A friend of my sister is currently going through the process of renouncing her US citizenship and it involves an interview and a hefty processing fee. She's got a business in Canada and she's been paying US federal income tax every year - she has dual citizenship. I don't know the specifics of her case but there is a tax treaty between Canada and the US which prevents double taxation on your income so my mom never paid a dime in US taxes while she lived and worked here as a permanent resident. I guess the difference is employment vs self-employment.
March 18, 2024, 12:44:19 PM
Are prices falling like this due to recent US inflation data? because if so... I will never be able to understand how all this works based on the macro market...
What seems to happen is: the inflation data was released and psychopathic traders around the world started selling everything automatically? this seems so strange to me... what kind of investors do this?
that's how it works? Can someone more experienced explain?
What seems to happen is: the inflation data was released and psychopathic traders around the world started selling everything automatically? this seems so strange to me... what kind of investors do this?
that's how it works? Can someone more experienced explain?
Don’t buy BTC for a quick overnight buck
Don’t buy BTC when not able to stomach a minor dip (10%ish)
Don’t buy BTC when only $ is in your mind…
March 18, 2024, 12:01:26 PM
March 18, 2024, 11:01:17 AM
March 18, 2024, 10:26:53 AM
Are prices falling like this due to recent US inflation data? because if so... I will never be able to understand how all this works based on the macro market...
What seems to happen is: the inflation data was released and psychopathic traders around the world started selling everything automatically? this seems so strange to me... what kind of investors do this?
that's how it works? Can someone more experienced explain?
What seems to happen is: the inflation data was released and psychopathic traders around the world started selling everything automatically? this seems so strange to me... what kind of investors do this?
that's how it works? Can someone more experienced explain?
March 18, 2024, 10:13:56 AM
Good morning Bitcoinland.
Ugh. No Monday upsurge. Wrong direction.
Is the ETF-based buying spree done? Sideways is boring.
You didn't say which jurisdiction you are in.
I assumed you live in Ontario due to advice you gave me several years ago about a lake in the Orillia region.
Are you multi-jurisdictional? I know if you're a USA citizen they'll chase you all over the world for taxes. Does that apply to dual citizenship?
Ugh. No Monday upsurge. Wrong direction.
Is the ETF-based buying spree done? Sideways is boring.
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!
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!
Nice to know there are other options that have been around for a while. Thanks vapourminer. I'll check it out.
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!Nice to know there are other options that have been around for a while. Thanks vapourminer. I'll check it out.
You didn't say which jurisdiction you are in.
I assumed you live in Ontario due to advice you gave me several years ago about a lake in the Orillia region.
Are you multi-jurisdictional? I know if you're a USA citizen they'll chase you all over the world for taxes. Does that apply to dual citizenship?
March 18, 2024, 10:03:37 AM
March 18, 2024, 09:57:50 AM
Yes one morning
March 18, 2024, 09:50:17 AM
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.
March 18, 2024, 09:44:42 AM
Good morning, WO.
You guys had a good weekend?
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
March 18, 2024, 09:38:47 AM
Where's that multimillionaire guy to pump up bitcoin and make our week more exciting?
Make us happy
Make us happy
March 18, 2024, 09:01:17 AM
March 18, 2024, 08:40:16 AM
[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.
March 18, 2024, 08:15:28 AM
What tools do you guys use for figuring out your tax obligations?
edit: for your bitcoin transactions I mean
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.
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