last quarter mmpool.org hit 3 blocks of which I collected bigly. So I had to pay more for the last quarter than the first 3 combined. Had to redo all my tax moves due to the extra BTC
PILF
Problems I'd like to fight
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 4217. (Read 26714992 times)
January 08, 2022, 06:35:22 PM
PILF
Problems I'd like to fight
January 08, 2022, 06:19:20 PM
Of course, these are not easy choices regarding how much to shave off.. just for insurance purposes, and yeah, the end of 2019 was surely not a good time to be shaving off too many BTC for insurance purposes (or consumption or tax purposes), and maybe just a period for HODL and to get funds from other sources.
I have to correct something: I typed the wrong year, and fixed my post: it was the end of 2020 when I sold a substantial part to pay taxes, not 2019. That was around 75% under the peak price. Still not desirable, but better than 2019 would have been.Just paid my largest tax bill ever.
glad I sold enough in the 62-67k range to cover them.
You pay estimated? Good practice, quite big fees if you underpay by April (and do it two years in a row).
I always pay whatever turbotax tells me to pay as estimated PLUS if a big sell happened, then add estimated cap gains tax for that Q.
Yeah estimated it is. and last quarter mmpool.org hit 3 blocks of which I collected bigly. So I had to pay more for the last quarter than the first 3 combined. Had to redo all my tax moves due to the extra BTC
January 08, 2022, 06:04:22 PM
I think this IHU variant in France causes this BTC dips for the last 2 days. Just like what happens when omicron variant was first discovered in South Africa.
January 08, 2022, 06:01:52 PM
Looking for this... maybe?
January 08, 2022, 06:01:27 PM
January 08, 2022, 05:36:41 PM
@LFC let's take it one day at the time.
Sure, it could go either way.
Looked at all Webb's stuff. Awesome so far.
Fingers crossed for the deployment into final orbit and individual mirror alignments.
I am "ready" for it to observe either a Dyson sphere (if there are any) or just funky "primordial" gas from 13.5-13.7 bil years ago.
Sure, it could go either way.
Looked at all Webb's stuff. Awesome so far.
Fingers crossed for the deployment into final orbit and individual mirror alignments.
I am "ready" for it to observe either a Dyson sphere (if there are any) or just funky "primordial" gas from 13.5-13.7 bil years ago.
January 08, 2022, 05:32:11 PM
If we hit $39.5k, I'm going to start stacking again. Trying to keep my cash reserves where they are right now due to the ranch starting to really hit its stride.
I see the market makers have finally caught wind of this post, and recognized the serious implications it would have.
You are all welcome.
* BobLawblaw bows
January 08, 2022, 05:30:39 PM
Is that a green candle?
Seriously though, any chance we could resume the bull market? Nothing would make me happier, I am doubtful though.
Seriously though, any chance we could resume the bull market? Nothing would make me happier, I am doubtful though.
January 08, 2022, 05:28:51 PM
Of course, these are not easy choices regarding how much to shave off.. just for insurance purposes, and yeah, the end of 2019 was surely not a good time to be shaving off too many BTC for insurance purposes (or consumption or tax purposes), and maybe just a period for HODL and to get funds from other sources.
I have to correct something: I typed the wrong year, and fixed my post: it was the end of 2020 when I sold a substantial part to pay taxes, not 2019. That was around 75% under the peak price. Still not desirable, but better than 2019 would have been.Just paid my largest tax bill ever.
glad I sold enough in the 62-67k range to cover them.
You pay estimated? Good practice, quite big fees if you underpay by April (and do it two years in a row).
I always pay whatever turbotax tells me to pay as estimated PLUS if a big sell happened, then add estimated cap gains tax for that Q.
January 08, 2022, 05:22:58 PM
January 08, 2022, 05:01:27 PM
January 08, 2022, 04:50:33 PM
Of course, these are not easy choices regarding how much to shave off.. just for insurance purposes, and yeah, the end of 2019 was surely not a good time to be shaving off too many BTC for insurance purposes (or consumption or tax purposes), and maybe just a period for HODL and to get funds from other sources.
I have to correct something: I typed the wrong year, and fixed my post: it was the end of 2020 when I sold a substantial part to pay taxes, not 2019. That was around 75% under the peak price. Still not desirable, but better than 2019 would have been.Just paid my largest tax bill ever.
glad I sold enough in the 62-67k range to cover them.
January 08, 2022, 04:27:24 PM
Of course, these are not easy choices regarding how much to shave off.. just for insurance purposes, and yeah, the end of 2019 was surely not a good time to be shaving off too many BTC for insurance purposes (or consumption or tax purposes), and maybe just a period for HODL and to get funds from other sources.
I have to correct something: I typed the wrong year, and fixed my post: it was the end of 2020 when I sold a substantial part to pay taxes, not 2019. That was around 75% under the peak price. Still not desirable, but better than 2019 would have been. 
January 08, 2022, 04:24:27 PM
♩ ♩ ♫
I was thinking!
♩ ♩ ♫ ♫
About all that was sinking!....
I was thinking!
♩ ♩ ♫ ♫
About all that was sinking!....
January 08, 2022, 04:12:43 PM
https://www.dailymail.co.uk/news/article-10381775/Bitcoin-tumbles-8-Kazakhstan-internet-shutdown-hits-cryptocurrency-mining-operation.html#comments
The dumbed down drama queens over at the Daily Mail think it's all over. Well they probably don't actually think that, but they like to give that impression to get some advert clicks I guess.
Read the stupid comments and up vs down votes to see just how early we are.
People still don't get it (some copy and pasted comments with a few of my own reactions):
"But why do all the altcoins follow Bitcoin? Even the proof of stake ones you can't mine?"
"Unless Bitcoin is powered by wind, solar or nuclear energy, it is a doomed concept. Don't believe me ?, Just wait and see......."
"Bitcoins are like the Emporer's new clothes!!! Only fools buy them."
"You can't say that because you don't know how many coins will be issued tomorrow. Do not believe what they say; they fixed the quantity now but can do whatever in future."
"using real energy to create a fake currency wont end well." - What a cracker that one, considering recent inflation.
"It seems to me that if this ridiculous sc@m of mining bitcoin (in other words creating equations?) uses so much electricity to produce nothing more tangible than thin air, then governments around the world should stop charging their citizens Green Taxes and land the crypto firms with gigantic Green Windfall Taxes." - Crypto miners aren't helping to fund green taxes also??
"Dump Crypto buy gold." - Peter Schiff has a DM comments account I see.
"Pontzi scheme"
"The bitcoin is worsening climate change. We should blow up bitcoin factories to save earth" - Please point out the Bitcoin factories on a map along with easy to find via Google known locations of Fort Knox, the Federal Reserve, The Bank of England, Swiss gold vaults and just about every centralised national bank that we know exists. Can you do that?
""The bitcoin is a big balloon, which will end soon. Ask yourself, what is the collateral of the bitcoin? A enormous quantity of WASTED and paid electric power. Is there a government, economic, army, natural resources behind it? NO.NO.NO. Only a formula with" - That is the whole point, it is decentralised from a parasitic government or army.
"Surely if there's less crypto currency it the value should go up?" - They really ought to update economics classes but they probably never will as the establishment wants to keep the fiat scam going.
"And that's how safe bitcoin is, your money disappears in seconds" - Up 40x in 5 years, whereas most western fiat is down about 40% in 5 years I reckon.
"Considering the world is trying to conserve our energy consumption and lesson the effect on global warming for future generations it seems like Bitcoin is a bit of an issue. You investors are now kiiling Polar Bears and corroding our coastline" - Making fake dollars never hurt any single little furry creature you think?
"Crypto the new word for thicko"
"Bit Coins ? It's make believe money for gullible people who think chocolate coins are real and bite into them just to check. Monopoly money doesn't fool anyone not even granny." - Well monopoly (fiat) money is fooling YOU it seems.
"Bitcoin is literally burning money to make pretend money. It's a blight and is only in existence because shady billionaires want to take down nations ability to control their own currencies." - You're saying nations currently aren't controlled by billionaires? Really?
"Oh no not crypto, sad pathetic currency people use during a midlife crisis thinking they are millionaires" - I suspect there are more millionaires in WO alone than in the DM comments section.
To be fair, there are now some people in the DM comments that have wised up for sure!
"No big deal. Buy the dip."
The dumbed down drama queens over at the Daily Mail think it's all over. Well they probably don't actually think that, but they like to give that impression to get some advert clicks I guess.
Read the stupid comments and up vs down votes to see just how early we are.
People still don't get it (some copy and pasted comments with a few of my own reactions):
"But why do all the altcoins follow Bitcoin? Even the proof of stake ones you can't mine?"
"Unless Bitcoin is powered by wind, solar or nuclear energy, it is a doomed concept. Don't believe me ?, Just wait and see......."
"Bitcoins are like the Emporer's new clothes!!! Only fools buy them."
"You can't say that because you don't know how many coins will be issued tomorrow. Do not believe what they say; they fixed the quantity now but can do whatever in future."
"using real energy to create a fake currency wont end well." - What a cracker that one, considering recent inflation.
"It seems to me that if this ridiculous sc@m of mining bitcoin (in other words creating equations?) uses so much electricity to produce nothing more tangible than thin air, then governments around the world should stop charging their citizens Green Taxes and land the crypto firms with gigantic Green Windfall Taxes." - Crypto miners aren't helping to fund green taxes also??
"Dump Crypto buy gold." - Peter Schiff has a DM comments account I see.
"Pontzi scheme"
"The bitcoin is worsening climate change. We should blow up bitcoin factories to save earth" - Please point out the Bitcoin factories on a map along with easy to find via Google known locations of Fort Knox, the Federal Reserve, The Bank of England, Swiss gold vaults and just about every centralised national bank that we know exists. Can you do that?
""The bitcoin is a big balloon, which will end soon. Ask yourself, what is the collateral of the bitcoin? A enormous quantity of WASTED and paid electric power. Is there a government, economic, army, natural resources behind it? NO.NO.NO. Only a formula with" - That is the whole point, it is decentralised from a parasitic government or army.
"Surely if there's less crypto currency it the value should go up?" - They really ought to update economics classes but they probably never will as the establishment wants to keep the fiat scam going.
"And that's how safe bitcoin is, your money disappears in seconds" - Up 40x in 5 years, whereas most western fiat is down about 40% in 5 years I reckon.
"Considering the world is trying to conserve our energy consumption and lesson the effect on global warming for future generations it seems like Bitcoin is a bit of an issue. You investors are now kiiling Polar Bears and corroding our coastline" - Making fake dollars never hurt any single little furry creature you think?
"Crypto the new word for thicko"
"Bit Coins ? It's make believe money for gullible people who think chocolate coins are real and bite into them just to check. Monopoly money doesn't fool anyone not even granny." - Well monopoly (fiat) money is fooling YOU it seems.
"Bitcoin is literally burning money to make pretend money. It's a blight and is only in existence because shady billionaires want to take down nations ability to control their own currencies." - You're saying nations currently aren't controlled by billionaires? Really?
"Oh no not crypto, sad pathetic currency people use during a midlife crisis thinking they are millionaires" - I suspect there are more millionaires in WO alone than in the DM comments section.
To be fair, there are now some people in the DM comments that have wised up for sure!
"No big deal. Buy the dip."
Thanks for a good laugh BitcoinBunny, Daily Mail readers not the sharpest tools in the box.
Comment "Hope your EU leaders kick Kazakhstan out of the EU, for cracking down peaceful protesters"
Hmm did not realize EU had expanded 3000 miles to the East.
Even more disturbing is the propaganda element.
First two images Bitcoin price graphs, followed by image 3 a protestor getting arrested at gunpoint.
More images of the carnage interspersed with an image of computers.
Obviously suggesting the cause of this is something to do with Bitcoin.
Are Daily Mail owners suddenly desperate to acquire Bitcoin?
The rest of the comments the usual mix of wilful ignorance and proof that MSM propaganda against Bitcoin is being internalized well by a great number of people. Plus the increasing minority that do get it.
January 08, 2022, 04:05:52 PM
Well we're back to the price we were at last year at this time which means there's a year's worth of really tasty dip to be had!
edit: Screw you chart buddy!
edit: Screw you chart buddy!
or sideways it is.
. Right JJG?
until it is up
January 08, 2022, 04:03:20 PM
I'm sure this has been shared at least 12 times before but let me bring it back one more time
Once upon a time on Thu Jan 8, 14:27:40 EST 2009
If you haven’t read it:
https://twitter.com/documentingbtc/status/1479802224264069122?s=21
Once upon a time on Thu Jan 8, 14:27:40 EST 2009
Quote
Thirteen years ago on this day, Satoshi Nakamoto released the first code of #Bitcoin v0.1.
With these 16,000 lines of code and a whitepaper, Satoshi Nakamoto changed the course of humanity, forever.
With these 16,000 lines of code and a whitepaper, Satoshi Nakamoto changed the course of humanity, forever.
If you haven’t read it:
https://twitter.com/documentingbtc/status/1479802224264069122?s=21
January 08, 2022, 04:01:37 PM
January 08, 2022, 03:33:39 PM
Didn’t make the same mistake this time, dumped 25% of my bags between 53.8k & 65k, set for life & now, seeing this dump & likely transition to bear market……
~
I hope none of you made my 2017 mistake & deludedly thought bitcoin won’t go down.
If you did, I hope you can live peacefully until the next bull cycle which will start in 2024. If you sold nothing don’t worry, we will hit 100k & above but not in 2022 & most likely not 2023 either. 2024 & 2025 we ride again.
First, I still have hopes we don't hit the bear market yet. After all, It's too round at the top. It need to be pointy. I also think the influence of halvings becomes less and less powerful, and the 4 year cycle will at some point be a thing of the past. Dollars and euros going up against Bitcoin just doesn't make sense!~
I hope none of you made my 2017 mistake & deludedly thought bitcoin won’t go down.
If you did, I hope you can live peacefully until the next bull cycle which will start in 2024. If you sold nothing don’t worry, we will hit 100k & above but not in 2022 & most likely not 2023 either. 2024 & 2025 we ride again.
But (for now), I regret not selling some close to the peak. In 2017 I sold some right before the peak, and I sold a substantial part at the end of 2019 to pay taxes. The price at that time was less than half of what it is now, and that sale makes me feel uncomfortable selling more now. After all, my bags are too small to be "set for life". If that would have been the case, I would have done the same as you did, but unfortunately I need a slightly higher price for a decent amount of "set for life". "Locking in" set-for-life status while keeping 75% in Bitcoin looks like a very good scenario to me
Of course, these are not easy choices regarding how much to shave off.. just for insurance purposes, and yeah, the end of 2019 was surely not a good time to be shaving off too many BTC for insurance purposes (or consumption or tax purposes), and maybe just a period for HODL and to get funds from other sources.
Many of us recall that we had a dip in late 2018 and another dip in late 2019, yet maybe you were able to get some kind of higher price rather than selling at the bottom.. but surely that price range in late 2019 would have been anywhere between $7k-ish and $10k-ish.. depending on when and how you carried out your sales.. and surely that would have NOT been feeling good once we went on our September 2020 to April 2021 UPpity move of 6.5x.
It can take a while to get your stack up to a sufficiently decent size to be able to just shave off 25% and then to be comfortable either way.. and surely there is a need to be thinking a bit ahead, even though it was risky for LFC to have had employed that big of a play, but at least he did it with forethought and on the way up rather than panicking on the way down.. which frequently happens.. and surely some of his sales at $53k-ish probably felt like panicking on the way down.. but they seem decent now....
So, yeah, what level of BTC do you need to feel comfortable enough that you are either entering into entry-level fuck you status.. or pre entry level fuck you status or even having a cushion for getting well into fuck you status... and for sure, I am sticking with my use of the 208-week moving average (and my projection of those numbers outwardly) because I believe that the 208-week moving average is a pretty damned conservative metric, especially when measuring whether currently you are in fuck you status or close to fuck you status which now puts you at around 105 BTC ($2,000,000 / $19k), but in 2025 and 2029 based on the current projection of the 208-week moving average you would ONLY need about 8.7 BTC and 0.7 BTC respectively..
Of course, the 208-week moving average is a kind of delayed indicator, so with the passage of time, you can attempt to measure where the 208-week moving average is at and adjust your projections if you conclude that the 208-week moving average is not moving up at it's historical levels of about 75% per year (which are shown in my chart). and surely, if you do not believe the numbers/projections from my chart, then you can make your own chart in order to attempt to figure out your comfort level regarding how many BTC you believe that you need at a particular point in time to enter into fuck you status.. or what you would consider fuck you status or a kind of level of cashing out that is comfortable for you to feel that you are sufficiently hedged in either direction and to start consuming some of your BTC (with hookers, lambos and blow) or investing in other asset classes (such as homes, businesses, equities or PMs).
January 08, 2022, 03:10:47 PM
https://www.dailymail.co.uk/news/article-10381775/Bitcoin-tumbles-8-Kazakhstan-internet-shutdown-hits-cryptocurrency-mining-operation.html#comments
The dumbed down drama queens over at the Daily Mail think it's all over. Well they probably don't actually think that, but they like to give that impression to get some advert clicks I guess.
Read the stupid comments and up vs down votes to see just how early we are.
People still don't get it (some copy and pasted comments with a few of my own reactions):
"But why do all the altcoins follow Bitcoin? Even the proof of stake ones you can't mine?"
"Unless Bitcoin is powered by wind, solar or nuclear energy, it is a doomed concept. Don't believe me ?, Just wait and see......."
"Bitcoins are like the Emporer's new clothes!!! Only fools buy them."
"You can't say that because you don't know how many coins will be issued tomorrow. Do not believe what they say; they fixed the quantity now but can do whatever in future."
"using real energy to create a fake currency wont end well." - What a cracker that one, considering recent inflation.
"It seems to me that if this ridiculous sc@m of mining bitcoin (in other words creating equations?) uses so much electricity to produce nothing more tangible than thin air, then governments around the world should stop charging their citizens Green Taxes and land the crypto firms with gigantic Green Windfall Taxes." - Crypto miners aren't helping to fund green taxes also??
"Dump Crypto buy gold." - Peter Schiff has a DM comments account I see.
"Pontzi scheme"
"The bitcoin is worsening climate change. We should blow up bitcoin factories to save earth" - Please point out the Bitcoin factories on a map along with easy to find via Google known locations of Fort Knox, the Federal Reserve, The Bank of England, Swiss gold vaults and just about every centralised national bank that we know exists. Can you do that?
""The bitcoin is a big balloon, which will end soon. Ask yourself, what is the collateral of the bitcoin? A enormous quantity of WASTED and paid electric power. Is there a government, economic, army, natural resources behind it? NO.NO.NO. Only a formula with" - That is the whole point, it is decentralised from a parasitic government or army.
"Surely if there's less crypto currency it the value should go up?" - They really ought to update economics classes but they probably never will as the establishment wants to keep the fiat scam going.
"And that's how safe bitcoin is, your money disappears in seconds" - Up 40x in 5 years, whereas most western fiat is down about 40% in 5 years I reckon.
"Considering the world is trying to conserve our energy consumption and lesson the effect on global warming for future generations it seems like Bitcoin is a bit of an issue. You investors are now kiiling Polar Bears and corroding our coastline" - Making fake dollars never hurt any single little furry creature you think?
"Crypto the new word for thicko"
"Bit Coins ? It's make believe money for gullible people who think chocolate coins are real and bite into them just to check. Monopoly money doesn't fool anyone not even granny." - Well monopoly (fiat) money is fooling YOU it seems.
"Bitcoin is literally burning money to make pretend money. It's a blight and is only in existence because shady billionaires want to take down nations ability to control their own currencies." - You're saying nations currently aren't controlled by billionaires? Really?
"Oh no not crypto, sad pathetic currency people use during a midlife crisis thinking they are millionaires" - I suspect there are more millionaires in WO alone than in the DM comments section.
To be fair, there are now some people in the DM comments that have wised up for sure!
"No big deal. Buy the dip."
The dumbed down drama queens over at the Daily Mail think it's all over. Well they probably don't actually think that, but they like to give that impression to get some advert clicks I guess.
Read the stupid comments and up vs down votes to see just how early we are.
People still don't get it (some copy and pasted comments with a few of my own reactions):
"But why do all the altcoins follow Bitcoin? Even the proof of stake ones you can't mine?"
"Unless Bitcoin is powered by wind, solar or nuclear energy, it is a doomed concept. Don't believe me ?, Just wait and see......."
"Bitcoins are like the Emporer's new clothes!!! Only fools buy them."
"You can't say that because you don't know how many coins will be issued tomorrow. Do not believe what they say; they fixed the quantity now but can do whatever in future."
"using real energy to create a fake currency wont end well." - What a cracker that one, considering recent inflation.
"It seems to me that if this ridiculous sc@m of mining bitcoin (in other words creating equations?) uses so much electricity to produce nothing more tangible than thin air, then governments around the world should stop charging their citizens Green Taxes and land the crypto firms with gigantic Green Windfall Taxes." - Crypto miners aren't helping to fund green taxes also??
"Dump Crypto buy gold." - Peter Schiff has a DM comments account I see.
"Pontzi scheme"
"The bitcoin is worsening climate change. We should blow up bitcoin factories to save earth" - Please point out the Bitcoin factories on a map along with easy to find via Google known locations of Fort Knox, the Federal Reserve, The Bank of England, Swiss gold vaults and just about every centralised national bank that we know exists. Can you do that?
""The bitcoin is a big balloon, which will end soon. Ask yourself, what is the collateral of the bitcoin? A enormous quantity of WASTED and paid electric power. Is there a government, economic, army, natural resources behind it? NO.NO.NO. Only a formula with" - That is the whole point, it is decentralised from a parasitic government or army.
"Surely if there's less crypto currency it the value should go up?" - They really ought to update economics classes but they probably never will as the establishment wants to keep the fiat scam going.
"And that's how safe bitcoin is, your money disappears in seconds" - Up 40x in 5 years, whereas most western fiat is down about 40% in 5 years I reckon.
"Considering the world is trying to conserve our energy consumption and lesson the effect on global warming for future generations it seems like Bitcoin is a bit of an issue. You investors are now kiiling Polar Bears and corroding our coastline" - Making fake dollars never hurt any single little furry creature you think?
"Crypto the new word for thicko"
"Bit Coins ? It's make believe money for gullible people who think chocolate coins are real and bite into them just to check. Monopoly money doesn't fool anyone not even granny." - Well monopoly (fiat) money is fooling YOU it seems.
"Bitcoin is literally burning money to make pretend money. It's a blight and is only in existence because shady billionaires want to take down nations ability to control their own currencies." - You're saying nations currently aren't controlled by billionaires? Really?
"Oh no not crypto, sad pathetic currency people use during a midlife crisis thinking they are millionaires" - I suspect there are more millionaires in WO alone than in the DM comments section.
To be fair, there are now some people in the DM comments that have wised up for sure!
"No big deal. Buy the dip."
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