Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 13447.

Torque

legendary

Activity: 3794

Merit: 5474

Quote from: samson on July 18, 2018, 01:44:13 PM

Quote from: ?? on ??

"We should prohibit U.S. persons from buying or mining cryptocurrencies," says Rep. Brad Sherman, a senior Democrat on the House Financial Services Committee.

https://twitter.com/colinwilhelm/status/1019646925820264448

Bitcoin right now seems to be trying to break that psychological resistance level of $7500 *permanently*.

Who the fuck does this Brad Sherman think he is ?

I think his bias is showing :

https://twitter.com/spencer_ellis/status/1019651382637260800

Ibian

legendary

Activity: 2268

Merit: 1278

Quote from: Anon136 on July 18, 2018, 02:07:10 PM

Quote from: Ibian on July 18, 2018, 02:31:28 AM

What's the actual tax rate in the states, anyway? In my country it's about 80%. 50% income tax, 25% sales tax and a whole bunch of taxes that are not openly advertised on anything you buy adding up to another 50%.

So let's make an imaginary year where I spend $100,000, see how much taxes I would end up paying in that year, then take that as a percent of the total.

So it's no federal long term capital gains for the first 75,000 then 10% for the next 25,000. So that's $2,500 there. State capital gains taxes are more complicated but in my experience they tend to end up being about half as much as I pay in federal. So lets say $1,250. Sales taxes are about 6% so that's about $6,000 there. Property taxes come out to about $3,700. Vehicle taxes about $300. 2,500+1,250+6,000+3,600+300=13,750 or 13.75%.

It's not great but it's not too bad. I'm not so resentful because I'm not quite the anarchist I used to be. I like having a border and a military even if they aren't as effectively provisioned as I would like.

If I could get away with a flat 20% tax on my gains I would pay it with a fucking smile. But I bet it's gonna be more than that when they eventually implement it. Gotta get to work on moving to brazil or wherever, probably don't have much time left.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Quote from: Elwar on July 18, 2018, 02:04:26 PM

Sherman is a tool. "What purpose does Bitcoin have other than tax avoidance and criminal activity?"

How about ending your ease of printing shit currency to fund your wars and paying idiots like Sherman to be idiots with centralized force.

The catch is everyone only remembers the folk who said that BTC is going to crash on say the last correction...all the others that have been saying this

no one remembers..thus they are not made to look foolish...thus they continue to do so on each cycle of btc on a correction

no accountability

just the way it is....a lot of 'obscure' folk can say awful things about BTC and get pass ..thus it will continue to happen

as far as the press I've seen for example Forbes magazine rinse wash and repeat in a 3-week cycle or so it seems

1) article on bitcoin dead

2) article on is bitcoin reviving

3) article on bitcoin is the future of money

rinse/wash/repeat....the folks that hate BTC get article one week..the bulls get an article the next week and normal folk get an article on maybe it will work (BTC) on the 3rd week

3x the papers sold or websites looked at with the same info just 'managed' differently....$$$$ indeed

so these types of 'experts' are always gonna exist...and of course, with fame comes expertise and then later the 'cushy' gov't panel/job

and back to press..no matter the topic (democracy is good, they will have a communist on saying democracy is bad) will always have these guys around

just the way it is.

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: Smartassette on July 18, 2018, 10:50:01 AM

It is not too high a price to pay, these tax-funded governments and social constructs of ours.

Your ancestors would spit in your face and shit on your grave if they could, to hear you trivialize how far society has come to build the states we live in now and how easy we have had it for the sacrifices they lived through.

So, if people adopt bitcoin they're going back in the Stone Age, right? To avoid that we just need to pay our taxes and use banksters money that rob our increased labor productivity!

Last of the V8s

legendary

Activity: 1652

Merit: 4393

Be a bank

Quote from: Elwar on July 18, 2018, 02:04:26 PM

Sherman is a tool. "What purpose does Bitcoin have other than tax avoidance and criminal activity?"

How about ending your ease of printing shit currency to fund your wars and paying idiots like Sherman to be idiots with centralized force.

edit https://www.youtube.com/watch?v=QrUHYSxiN_w What's Brad Sherman's Problem with Bitcoin??

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: Ibian on July 18, 2018, 02:31:28 AM

What's the actual tax rate in the states, anyway? In my country it's about 80%. 50% income tax, 25% sales tax and a whole bunch of taxes that are not openly advertised on anything you buy adding up to another 50%.

So let's make an imaginary year where I spend $100,000, see how much taxes I would end up paying in that year, then take that as a percent of the total.

So it's no federal long term capital gains for the first 75,000 then 10% for the next 25,000. So that's $2,500 there. State capital gains taxes are more complicated but in my experience they tend to end up being about half as much as I pay in federal. So lets say $1,250. Sales taxes are about 6% so that's about $6,000 there. Property taxes come out to about $3,700. Vehicle taxes about $300. 2,500+1,250+6,000+3,600+300=13,750 or 13.75%.

It's not great but it's not too bad. I'm not so resentful because I'm not quite the anarchist I used to be. I like having a border and a military even if they aren't as effectively provisioned as I would like.

hodl_2015

member

Activity: 371

Merit: 57

Quote from: jonoiv on July 18, 2018, 10:47:40 AM

Quote from: ?? on ??

Saw on /r/bitcoin.
Food for thought.

300% growth in almost 40 years. I am clearly too impatient to invest in gold.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Sherman is a tool. "What purpose does Bitcoin have other than tax avoidance and criminal activity?"

How about ending your ease of printing shit currency to fund your wars and paying idiots like Sherman to be idiots with centralized force.

Agaguk24

full member

Activity: 242

Merit: 100

Extended Reality Advertising

BTC had a nice run up to 20000$ then crashed to 5500$, which is what it always does after such a strong rise.

Personally I am waiting for 100 000$.

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: Paashaas on July 18, 2018, 10:41:52 AM

LOL Mastercard Roll Eyes

Indeed. Made me laugh as well. That was their stated value-add.

Can't make this shit up, people.

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: gentlemand on July 18, 2018, 10:38:15 AM

Quote from: ?? on ??

Saw on /r/bitcoin.

Food for thought.

But gold still hasn't equalled that 1980 high accounting for inflation, which we're told is the point of gold. It would've been $2600 in today's dollars so right now it's worth less than half what you laid out nearly four bleedin' decades ago.

$800+ was merely standard FOMO overshoot. Duh.

Quote

Paper gold turned it to shite.

Well, there is that.

Rosewater Foundation

sr. member

Activity: 392

Merit: 254

Quote from: jbreher on July 18, 2018, 01:45:52 PM

Quote from: Rosewater Foundation on July 18, 2018, 06:48:46 AM

Quote from: Phil_S on July 18, 2018, 06:44:24 AM

Google and Amazon etc compete by giving employees not only salaries, but "free" cafeteria food, "free" dental etc.

Rich western countries compete that way too.

It's up to each country what kind of "free" benefits like healthcare they should provide.

Corporations are soulless mummies mandated to maximize shareholder profit. Imagining market forces will manage humans with anything other than complete indifference is nuts.

Quote from: Phil_S on July 18, 2018, 06:44:24 AM

You don't like "salary+benefits" package, you move to a better country.

Just everybody get rich and move to a seastead then. Good plan.

Funny thing about profit? It can only be garnered by providing something the masses want at a price for which they are willing to pay.

Truth is, the cold indifference of profit-seeking enterprise is the mechanism by which the lowliest among us live better longer lives in more comfort than the aristocracy of merely a century ago.

I went ahead and put my inflammatory quote back in the context of depending on companies to provide basic needs. fwiw

gembitz

hero member

Activity: 1848

Merit: 640

*Brute force will solve any Bitcoin problem*

fat finger? Cheesy

weeeeeeeeeee

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: Rosewater Foundation on July 18, 2018, 06:48:46 AM

Corporations are soulless mummies mandated to maximize shareholder profit. Imagining market forces will manage humans with anything other than complete indifference is nuts.

Funny thing about profit? It can only be garnered by providing something the masses want at a price for which they are willing to pay.

Truth is, the cold indifference of profit-seeking enterprise is the mechanism by which the lowliest among us live better longer lives in more comfort than the aristocracy of merely a century ago.

BTCtrader71

hero member

Activity: 784

Merit: 1001

Quote from: Last of the V8s on July 18, 2018, 01:36:20 PM

Quote from: ?? on ??

"We should prohibit U.S. persons from buying or mining cryptocurrencies," says Rep. Brad Sherman, a senior Democrat on the House Financial Services Committee.

https://twitter.com/colinwilhelm/status/1019646925820264448

Bitcoin right now seems to be trying to break that psychological resistance level of $7500.

It went down $100 during his bleatings
https://www.opensecrets.org/members-of-congress/summary?cid=N00006897

This is the woke guy https://twitter.com/norbertjmichel?lang=en

Pollock is the wrecker https://imgur.com/a/wQPtnkq

Quote from: Last of the V8s on July 18, 2018, 01:07:11 PM

https://www.c-span.org/video/?448611-1/house-panel-examines-digital-currency&live

Mr Pollock ended with this: " I don't think it [future forms of currency] will be a privately issued fiat currency like bitcoin"
Not sure if he meant it, but sounded like he called bitcoin a privately issued fiat currency. Hwa? Huh

?

samson

legendary

Activity: 2097

Merit: 1071

Quote from: ?? on ??

"We should prohibit U.S. persons from buying or mining cryptocurrencies," says Rep. Brad Sherman, a senior Democrat on the House Financial Services Committee.

https://twitter.com/colinwilhelm/status/1019646925820264448

Bitcoin right now seems to be trying to break that psychological resistance level of $7500 *permanently*.

Who the fuck does this Brad Sherman think he is ?

Last of the V8s

legendary

Activity: 1652

Merit: 4393

Be a bank

Quote from: ?? on ??

"We should prohibit U.S. persons from buying or mining cryptocurrencies," says Rep. Brad Sherman, a senior Democrat on the House Financial Services Committee.

https://twitter.com/colinwilhelm/status/1019646925820264448

Bitcoin right now seems to be trying to break that psychological resistance level of $7500.

It went down $100 during his bleatings
https://www.opensecrets.org/members-of-congress/summary?cid=N00006897

This is the woke guy https://twitter.com/norbertjmichel?lang=en

Pollock is the wrecker https://imgur.com/a/wQPtnkq

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

Quote from: Elwar on July 18, 2018, 01:21:21 PM

I'm not liking the panel they grabbed for their "panel of experts".

A Ripple guy and a bunch of professors of the legacy systems.

I wouldn't have expected anything less, or more. That's how they roll.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Last of the V8s on July 18, 2018, 01:07:11 PM

https://www.c-span.org/video/?448611-1/house-panel-examines-digital-currency&live

I'm not liking the panel they grabbed for their "panel of experts".

A Ripple guy and a bunch of professors of the legacy systems.

Ripple guy suggesting the Fed create a centrally controlled cryptocurrency. Or a cryptocurrency like...hmm...Ripple. Bitcoin is money, but not a very good one. Nothing wrong with our current system.

Heritage guy: Not Bitcoin...blockchain! (at least he suggests they get rid of capital gains taxes on spending crypto). He also mentions that centralizing crypto under Fed control wouldn't work. Adoption rate would help with volatility.

Professor: The US dollar has backing. Money is created by banks. Bitcoin not getting traction as a medium of exchange (likes Tether).

Old legacy finance guy: Private currencies have existed before. Money over time has become more centralized. Will it become decentralized due to crypto? Not likely. Central bank digital currency is a horrible idea. An increase in centralizing should be avoided.

They keep talking about a Federal Reserve deposit account.

Final summary: Cryptocurrencies are interesting and developing, it looks like we'll be coming back to this topic later.

Last of the V8s

legendary

Activity: 1652

Merit: 4393

Be a bank

https://www.c-span.org/video/?448611-1/house-panel-examines-digital-currency&live

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 13447. (Read 26720873 times)