Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 15215. (Read 26714829 times)

True, and nobody knows what to do at midnight, so they usually congregate around the nearest giant clock in the freezing cold, cheer at midnight, then endure a five hour wait for a taxi back home.

Nah. It's the shittest night of the year. Fuck NYE. Anyone paying $30 to get into some bar that's usually free to have a crap time surrounded by fucksticks and shit heels is a cock honker.

You cannot be serious.  Do you actually know what LN is?  I'll tell you what it is.  LN is nothing more than establishing bitcoin banks on top of the blockchain.  All of the exact same regulation traditional banks have will be applied to them and bitcoin will be virtually identical to your current banking system.  The only reason it hasn't happened yet is because it's too difficult for them to play whack-a-mole with regulating miners, but the LN "nodes" aka banks are less ambiguous in nature and will be regulated to infinity just like any normal financial services provider or bank.  

The costs, compliance, and amount of lawyers needed will be so high only entities like JP Morgan and Goldman Sachs will run them.  This is how crony capitalism works.  You introduce regulation with compliance requirements and fees so high that only your existing monopoly can participate while all small competitors are eliminated.

Nevermind the fact LN doesn't function in a decentralized manner in the first place.  There is also ZERO incentive for LN nodes aka banks to broadcast transactions to external peers.  There is actually incentive for these bitcoin banks to FORCE a hub and spoke model or cartel collective in order to hold their users hostage for usury fees (just like regular banks do). There's also nothing that stops them from changing usage of bitcoin as settlement to ripple, US dollars, or anything else.  I wrote more on why LN is unworkable on the technical side here:

https://bitcointalksearch.org/topic/m.26860586

Yes, that's all of us on here tonight. I was wondering WTF I'm doing on this forum tonight. It's because I have no life except crypto at present.

Yes, that's all of us on here tonight. I was wondering WTF I'm doing on this forum tonight. It's because I have no life except crypto at present.

I'd rather pay 200K for a Vanuatuan passport and a 1-way ticket.

Just make sure you do your homework.  15% isn't the top capital gains bracket, 20% is.  Also NIIT of 3.8% is taxed on it.  Also state/local tax and your income rate.  Also AMT applies if knocks your income up higher.

Can't stress that enough.  Actual rate we will pay on gains from Illinois USA here is 20% + 3.8% + 4.975% + AMT = ~29%+  (more if you live in states with higher income taxes even)

Ha, just had to share this, someone did recently on Twitter:
http://txhighway.com/#

Capital gains taxes on digital currencies is not a big deal anyways. It would never kill crypto in the first place.

I don't mind paying 15% returns on 100% gains.


It is better to (when you cash out) be very careful, and pay the full tax, lest the IRS mafia come knocking at your door to throw you in prison.