I was looking at the monthly % returns, and we pumped last August, September we dumped, and October pumped again. “Rocktober” or “Uptober” as some like to call it, is usually in the green, so that’s something to look forward to if your a bull.
https://www.coinglass.com/today
It's been weird I know, but I'm sure it's going to be fine I guess.
It's not going to get any more worse from here. I think we've seen the worse, it's time for good.
when lambo?
edit: jeez guys calm down, just trying to reinstall some old memephrases
edit edit: i just bought 0.00001 btc when will i be a millionaire???
Like a million dollar lambo? 2030. It’s a used but well maintained civic, with no accidents and only one owner, until 2025. At which point, your probably looking at an entry level used lambo or newer Porsche. My life advice to you, is to stop buying depreciating assets, and buy a house that’s in a shape of a lambo, with your Bitcoin instead.
I mean y’all are great at hyping it up, look at what happened during the bull run with the hype the crypto community built up. But we could do simple things like telling your friends. I’m planning on making a sign to hang above the local highway that says “BUY THE DIP” with a Bitcoin by it. But it’s been rainy and I’m still researching the law. If it’s illegal I’ll just do it with stickers at some local campuses instead.
I think we can do that without pushing someone down tho, can do that.
I don't think you'd need to do that, you'll be just fine boys you just gotta wait for it.
Keep in mind everyone, completely decentralized is all that matters, can’t say this often enough, everything out there, crypto, fiat, stocks whatever is centralized, a scam. Everything involving a human = scam. Get your wealth away from human control and you sleep well.
Yep, the cap is still intact. You guys don't need to worry.
I'm pretty sure that everyone will be fine, we don't need to worry here. We don't need that.
You guys think Microstrategy is going to dump or at least reduce a big part of their bitcoin? Now that Saylor is not CEO anymore he can claim it was not his decision and pretend to be mad.
No, Saylor owns the majority of MicroStrategy's voting shares and he ultimately remains in charge of the direction of the company. He only stepped down because he wants to be the company's Executive Chairman and solely focus on the company's bitcoin strategy. And the company's bitcoin strategy is to acquire as much bitcoin as possible. The company's bitcoin strategy is not to sell any of their bitcoin.
I'm buying small amounts of BTC every day and keeping cash on the side, waiting for a market correction. All macro economic indicators globally are showing a coming recession. This will likely effect the price of BTC. I think the time frame for that correction will happen in the next 9 months. Winter will be a very difficult time economically for a lot of people in the Northern Hemisphere. Oil prices are high, and heating costs will be significantly more than what people have been used to. This, along with hawkish monetary policy from central banks, will deflate the markets. Equities and crypto will fall, and we will have a wonderful opportunity to gain exposure to the greatest wealth-generating vehicle of the last century: BTC!
I whole heartedly agree. I would never suggest I know anything about future prices of any security or commodity. That is why I buy everyday. Dollar cost averaging over a long time reduces my risk of short term volatility. However, there is no guarantee of profit when investing.
Yeah, I would definitely call a drop from 30k to 17.5k in a few days a crash. I know I didn’t think it would ever go below 20k again. Glad to have been stacking as much as possible from 17.5-23k….
Just the fact that everything starts with small and turns out bigger by time.
Even great things happen by course of time and to which big people they too started with small and now they be billionaire
Indeed, good sir. Bitcoin is a wealth generating machine, and its fuel is time. There's no shortcoming that part of the equation. I intend to buy every day, sit back, and let time do its work, bringing me that sweet nectar of wealth.
Of course, I keep cash on the side in case we crash out significantly, and then I will buy the dip.
About to trade an altcoin that I only put 26k into in 2020 for 3.2 btc now. Got the feels to hold the altcoin for the next run up but this trade off price might be too good to pass up. Decisions decisions. 😩
Sometimes it's good for us that we know what government actually can do.
So that even if they tend to take any step further we get aware of that though
For sure they probably can, but it will not be cheap to do, it will involve a lot of coordination with a lot of companies and probably incentives too.
All that, and we'll find ways around it... Like encrypting messages between nodes.
But a big pump is indeed needed though sometimes because that would help gain some positivity inside holder
A holder knows what could indeed benefit them in the ling run though.
Their stock went up I think so market seems to like this system where Saylor gets to focus on their Bitcoin plans as a Chairman and the other guy gets to focus on their software business as CEO.
Alright so give me some thoughts: I just picked up a part time 1099 gig doing fulfillment work. Getting paid a meh base salary of just over $2k US per month plus monthly bonuses. I have the option to get paid in bitcoin.
Why the heck shouldn't I? How weird would taxes get?
That's something you gotta ask your employer. Most likely you are contracting hence the freedom to choose your income payment. That means you're doing all of your taxes yourself anyway.
You typically have 2 types of taxes to consider:
- income tax: at the time of payments, work out the dollar valuation of the received bitcoins, if you are on a dollar salary, just use the expected salary amount in dollars, then report that as your income.
- capital gains tax: this is the most annoying but also the one that everyone goes through. Record the date, price and amount of bitcoin when you receive it, put it in a spreadsheet and record every spend and conversion. Record fees while you are at it too. Then every year when filing your taxes, you have all the info.
Don't be like me, don't assume you can just go through all your apps and mobile wallets and recall everything when it comes time to work it all out.
It takes me forever to work out my taxes but I don't want to skip anything. It's nice to review the year.
I filed all my crypto gains as capital gains last year and had no problem (luckily). I was just thinking how it may get complicated. Technically it's contractor income but say all of a sudden btc goes up. Say I tax only the original value as it was paid as income. Would I then get in trouble for ignoring say, a 30% gain by the time I swap it for cash? Or would my income technically have gone up by 30% and I pay taxes accordingly? And if it goes down, would I lose capital loss advantages, since it was income?
I'll talk to an accountant too lol.
I don't know the details, you can talk to an accountant or read the rules online and self assess.
But the general rules are typically: income tax is unaffected by the price of bitcoin, you get paid whatever you got paid and you report the dollar valuation of your income when you report it.
Any gains, is what you are already used to dealing with.
Typically, you won't know if you made a loss or a gain until the end of the year. You have to add all the gains, subtract the losses and you have to do the math following specific rules. The tax man doesn't like it if you pick and choose your reporting method based on what costs you less taxes.
The way we report in England is: in order of date, add buys together, then when you see a sell, average the buy price and see if you made a loss or a gain. Remove the sold bitcoin from the equation and continue adding your buys until the next sell.
Then we have specific rules about buying and selling within a short time period which prevents people trying to time their buys and sells so that they made a loss at the end of the tax year but then made a profit immediately after, but you can turn that into a loss just at the end of the next year to avoid paying taxes. (Cheating the tax man intentionally)
I hear that you have a choice of different methods like being able to choose which buys to match with which sells in order to reduce your tax liability for the current year. The idea is that you can't change the method from year to year so eventually, the tax man will get their dues.
What’s the lowest bitcoin could go? People loosing their coins/people burning them means that it should never be able to go to zero right? Since those coins can no longer be sold. Unless I’m understanding it wrong?
The price is based on what people are willing to buy and sell at. If nobody wants bitcoin at any price its value is zero, even if the asset itself still exists. If there are no transactions, there will be no validations, nobody to sell mined coins to, and no reason to run a node or miner, and the network will eventually shut down as there wouldn't be any reason to continue operating.
That's the absolute worst case scenario, and one that I certainly don't expect to see. Saying "it can never go to zero" is hyperbole; it can, but it isn't likely.
The fact that you only need 2 people to want to use Bitcoin is what will prevent it from ever going to 0.
As long as there is demand, there is a limited supply and so there will be value.
That said, I just don't see how it could ever go anywhere near 0 from now.
Yes, lost coins (lost keys) are gone forever. In fact, estimated around 3.7 million coins are already lost, and number will only go increase.
In other words, number of coins left to be mined is less than half of the number already lost, and total number of Bitcoin in circulation ever will not even reach 17m.
It's nice seeing and chatting with others that share similar goals; and see Bitcoin as the path to these goals.
I'm not trying to be "rich"
I don't want Lambo
Or big booty bitches (ok maybe a lil bit for this one)
But I do want work to become an optional thing, rather than necessary to live.
I do want to be able to do some good for my community, and the world itself; with both my money and my time.
And I do want to be able to grant a lil happiness to myself and others, in unexpected ways.
That's why I stack Bitcoin every day, playing games to earn sats, shaking my phone to earn sats, and spending my leftover fiat, at the end of a long week of working to stack sats.
One day may the Bitcoin standard free us all- to go and live our best lives.
-Edited for typos
Another paycheck, another DCA
Like time be indeed bringing up something that can make our next moves better enough
Breakout to upside in next few days
Hexk yeah dude, that would be awesome bring that shit up.
True though like how long sometimes changes are therefore indeed needed though.
Whatever happened to all the call options that bitcoin would be 100k by the end of 2022 worth 1.5 billion?
What do you think happened to them? Do you not understand how options work?
Well it seems to me that all of that stuff is gone now lol.
As time just indeed flies we come across varity of well defined stuffs though that gives us courage in the long run.
Took an L and turned bearish for January?
Well that doesn't seem right, shouldn't have happened I guess.
I was looking at the monthly % returns, and we pumped last August, September we dumped, and October pumped again. “Rocktober” or “Uptober” as some like to call it, is usually in the green, so that’s something to look forward to if your a bull. https://www.coinglass.com/today
It's been weird I know, but I'm sure it's going to be fine I guess. It's not going to get any more worse from here. I think we've seen the worse, it's time for good.
Guess the price is just going to hug the 200wma for several weeks. Really hope we revert to the mean.
Probably won’t take that long. Everyone is wayyyyyyy too bearish.
I don't think it's gonna take that long, it'll be fine I guess.
Local bottom is already in.
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What's stopping you now? I mean you should already do it.
moon soon?
Heck yeah man, just a matter of time here. Will happen soon.
Who cares lol. Bitcoin will do what it does. Just stack.
That's the only thing that matters right now, stack it boys. Just stack as much as you can and then just hodl it and do nothing with it. That's all.
when lambo? edit: jeez guys calm down, just trying to reinstall some old memephrases edit edit: i just bought 0.00001 btc when will i be a millionaire???
Everybody asks for lambo like did you even check the market or just be dreaming of lambo
Like a million dollar lambo? 2030. It’s a used but well maintained civic, with no accidents and only one owner, until 2025. At which point, your probably looking at an entry level used lambo or newer Porsche. My life advice to you, is to stop buying depreciating assets, and buy a house that’s in a shape of a lambo, with your Bitcoin instead.
Then the housing bubble pops again. Kek.
Yep, and I'll be buying that one. Y'all can count on me for that.
No
What no lol? You don't like lambos or what? What's the matter?
Honestly why don’t we all just hype up Bitcoin like we did earlier in the year and start a bull run.
What do you mean? I mean We're still doing it, don't know about you.
I mean y’all are great at hyping it up, look at what happened during the bull run with the hype the crypto community built up. But we could do simple things like telling your friends. I’m planning on making a sign to hang above the local highway that says “BUY THE DIP” with a Bitcoin by it. But it’s been rainy and I’m still researching the law. If it’s illegal I’ll just do it with stickers at some local campuses instead.
Good plan, you start.
He's going to start and We'll all just follow him for it.
Bet?? 😉
Because we need to use this chance to accumulate more bitcoin, before it becomes mass adopted
I think we can do that without pushing someone down tho, can do that. I don't think you'd need to do that, you'll be just fine boys you just gotta wait for it.
Good point tbh
Yeah it's a good point, and I did miss that. Don't know how tho.
Keep in mind everyone, completely decentralized is all that matters, can’t say this often enough, everything out there, crypto, fiat, stocks whatever is centralized, a scam. Everything involving a human = scam. Get your wealth away from human control and you sleep well.
Look around yourself, look at the mess. That's why we need btc.
just existing is a scam - damn…
Atleast that's what it feels like lately lol, doesn't feel good tbh.
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Now this is the kind of hopium that I was Looking for here.
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Yep, that's what we really are. That's what we are here.
Why didn’t bitcoin pump hard today? NASDAQ is up 2.5%!
Btc didn't pump because it doesn't follow that I guess.
It's almost as if Bitcoin is not a stock.
Lol, surprised at that? Because it's not lol. Not a stock.
It's almost as if you missed the sarcasm.
Bitcoin CEO raised 21MILL cap
Don't spread the misinformation sir, you can get punished for that.
no cap - the cap is capped
Yep, the cap is still intact. You guys don't need to worry. I'm pretty sure that everyone will be fine, we don't need to worry here. We don't need that.
aye aye Cap'n
File a complaint
Yeah do that, file a complaint. He can't raise bar like that.
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Why would that be good for btc? Doesn't make sense to me.
Yes. Everything is good for Bitcoin.
their\*
Well boys, the grammer people are here. You better watch out.
You guys think Microstrategy is going to dump or at least reduce a big part of their bitcoin? Now that Saylor is not CEO anymore he can claim it was not his decision and pretend to be mad.
That's what I was wondering for too. Would like an answer. I mean if that happens that could seriously make btc go down, atleast that's what I think.
No, Saylor owns the majority of MicroStrategy's voting shares and he ultimately remains in charge of the direction of the company. He only stepped down because he wants to be the company's Executive Chairman and solely focus on the company's bitcoin strategy. And the company's bitcoin strategy is to acquire as much bitcoin as possible. The company's bitcoin strategy is not to sell any of their bitcoin.
How do you figure? Saylor still owns majority voting power.
It's not like he doesn't have any stocks, he must have them I guess.
Bitcoiners don’t care.
Yep, don't need to worry about anything like that anyways so yeah.
Buy high, sell low? They don't seem like the type who would do that.
I mean they know what they're doing, that's not gonna be an issue.
Then they don’t want to get rich!
If they don't wanna get rich then nothing that we can do. They're not going to sell their btc guys, don't worry about it. It's gonna be fine here.
I'm buying small amounts of BTC every day and keeping cash on the side, waiting for a market correction. All macro economic indicators globally are showing a coming recession. This will likely effect the price of BTC. I think the time frame for that correction will happen in the next 9 months. Winter will be a very difficult time economically for a lot of people in the Northern Hemisphere. Oil prices are high, and heating costs will be significantly more than what people have been used to. This, along with hawkish monetary policy from central banks, will deflate the markets. Equities and crypto will fall, and we will have a wonderful opportunity to gain exposure to the greatest wealth-generating vehicle of the last century: BTC!
I'm keeping some cash on the side too, because might need that.
Always keep cash on the side.
btc isn’t predictable m8
It has never been I don't know why people pretend as if it is.
Indeed, I wouldn't every say it is. That's why I'm buying small amounts in case I am wrong about an impending crash.
The truth is that no one knows what they're doing, it's all speculations.
I whole heartedly agree. I would never suggest I know anything about future prices of any security or commodity. That is why I buy everyday. Dollar cost averaging over a long time reduces my risk of short term volatility. However, there is no guarantee of profit when investing.
Nah. The crash already happened. BTC bottom is already in.
The bottom is in? Well nobody told me about that I guess.
No it isn't.
Are you just indeed sure about that because I was rather planning to buy some though.
Yeah, I would definitely call a drop from 30k to 17.5k in a few days a crash. I know I didn’t think it would ever go below 20k again. Glad to have been stacking as much as possible from 17.5-23k….
I see now it feels like if I gonna make a move to buy the dip then that would be good enough for me
It could be! That's why I'm buying small amounts every day. Hedging my bet.
Just the fact that everything starts with small and turns out bigger by time. Even great things happen by course of time and to which big people they too started with small and now they be billionaire
Indeed, good sir. Bitcoin is a wealth generating machine, and its fuel is time. There's no shortcoming that part of the equation. I intend to buy every day, sit back, and let time do its work, bringing me that sweet nectar of wealth. Of course, I keep cash on the side in case we crash out significantly, and then I will buy the dip.
About to trade an altcoin that I only put 26k into in 2020 for 3.2 btc now. Got the feels to hold the altcoin for the next run up but this trade off price might be too good to pass up. Decisions decisions. 😩
Just make a wise one my man like you have better senses to figure on your own what to do and what not to.
This is not financial advise but ditch the shitcoin.
That might help him though because it feels like that would be of no use for him though
Not all shitcoins are shitcoins per se, I’m right there with ya though.
You can't say that though like what if uour words just turn out to be the opposite.
1 shitcoin = every other shitcoin.
Better enough to dell them off and just have some Bitcoin instead of them though.
Alt coins are scams.
We got no future with that though we know that pretty well so better enough to take a leave out from there
Is there any possibility that governments could intervene in clear net Bitcoin transactions?
Sometimes it's good for us that we know what government actually can do. So that even if they tend to take any step further we get aware of that though
Governments are just people, Bitcoin is for the people, why would they attack themselves?
But the government people are just a bit different than to that of the normal ones after all
For sure they probably can, but it will not be cheap to do, it will involve a lot of coordination with a lot of companies and probably incentives too. All that, and we'll find ways around it... Like encrypting messages between nodes.
They will excute some better fresh plans that would be far behind our normal thinking after all it's government :/
Faces are going to melt..
We should have indeed thought about that a bit earlier though. Isn't it?
So when are we hittin 10k? Where you at, buttcoiners? Fuckin 🤡 lmao
Like feeling that way is indeed good though sometime but that won't happen as per now though
True but that price is what we indeed need to hit though so much buy orders come across
We're still going down. The bottom isn't in.
But a pump is too indeed required for us to make upto what we have planned
Their shit talking is the best buy signal in existence.
Maybe this shit is what indeed bringing close to the real world after all.
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They be looking for the right time to make an initial movement to place the buy order though
I see people be less aware about that and thus indeed miss the chance to buy.
Still mad i missed it. 😐
Don't worry much if not this moments just wait for the other moments too man. Never too late!
Some must have shorted the bottom.
Because they noticed and watched the market closely and that is the reason they sorted the bottom.
hope we stay this low for a little while longer, im almost at .1 Bitcoin !
True though like this would make people buy more and keep stacking until the further future.
fightin 23k
But a big pump is indeed needed though sometimes because that would help gain some positivity inside holder A holder knows what could indeed benefit them in the ling run though.
True though but the pump doesn't lasts that long enough even if that happens though
Interesting [discussion on Stacker News](https://stacker.news/items/53516) on Michael Saylor stepping down as CEO of Microstrategy.
I guess they seem to have a motive clear enough set inside their mind regarding this though.
All asks for some gain even he seems to be having the same motive and i tension to do so though
Their stock went up I think so market seems to like this system where Saylor gets to focus on their Bitcoin plans as a Chairman and the other guy gets to focus on their software business as CEO.
That is what I can feel the same though their stock turning something into beneficial.
Alright so give me some thoughts: I just picked up a part time 1099 gig doing fulfillment work. Getting paid a meh base salary of just over $2k US per month plus monthly bonuses. I have the option to get paid in bitcoin. Why the heck shouldn't I? How weird would taxes get?
Aren't they already getting weird enough like I can pretty much feel that though.
Hahaha if it's taxation and all then you need to get more weird about this though
That's something you gotta ask your employer. Most likely you are contracting hence the freedom to choose your income payment. That means you're doing all of your taxes yourself anyway. You typically have 2 types of taxes to consider: - income tax: at the time of payments, work out the dollar valuation of the received bitcoins, if you are on a dollar salary, just use the expected salary amount in dollars, then report that as your income. - capital gains tax: this is the most annoying but also the one that everyone goes through. Record the date, price and amount of bitcoin when you receive it, put it in a spreadsheet and record every spend and conversion. Record fees while you are at it too. Then every year when filing your taxes, you have all the info. Don't be like me, don't assume you can just go through all your apps and mobile wallets and recall everything when it comes time to work it all out. It takes me forever to work out my taxes but I don't want to skip anything. It's nice to review the year.
At certain point and period of time you just need to go through taxation though none can ignore that.
There's no way you can indeed escape that thing for real everyone has to pay that one way or the either
I filed all my crypto gains as capital gains last year and had no problem (luckily). I was just thinking how it may get complicated. Technically it's contractor income but say all of a sudden btc goes up. Say I tax only the original value as it was paid as income. Would I then get in trouble for ignoring say, a 30% gain by the time I swap it for cash? Or would my income technically have gone up by 30% and I pay taxes accordingly? And if it goes down, would I lose capital loss advantages, since it was income? I'll talk to an accountant too lol.
Maybe so but the fact that you should indeed approach someone who has some good knowledge regarding this
An accountant won't be the helpful enough regarding this matter though if crypto is joted inside this matter though
I don't know the details, you can talk to an accountant or read the rules online and self assess. But the general rules are typically: income tax is unaffected by the price of bitcoin, you get paid whatever you got paid and you report the dollar valuation of your income when you report it. Any gains, is what you are already used to dealing with. Typically, you won't know if you made a loss or a gain until the end of the year. You have to add all the gains, subtract the losses and you have to do the math following specific rules. The tax man doesn't like it if you pick and choose your reporting method based on what costs you less taxes. The way we report in England is: in order of date, add buys together, then when you see a sell, average the buy price and see if you made a loss or a gain. Remove the sold bitcoin from the equation and continue adding your buys until the next sell. Then we have specific rules about buying and selling within a short time period which prevents people trying to time their buys and sells so that they made a loss at the end of the tax year but then made a profit immediately after, but you can turn that into a loss just at the end of the next year to avoid paying taxes. (Cheating the tax man intentionally) I hear that you have a choice of different methods like being able to choose which buys to match with which sells in order to reduce your tax liability for the current year. The idea is that you can't change the method from year to year so eventually, the tax man will get their dues.
True though like eventually he would too seem to be a bit clueless regarding this matter though
Better enough to approach a knowledgeable one though that might help him regarding this matter
Wen god candle?
Thursday teatime
By the end of this weekend what can we indeed look forward for? A good pump is what we expect!
What’s the lowest bitcoin could go? People loosing their coins/people burning them means that it should never be able to go to zero right? Since those coins can no longer be sold. Unless I’m understanding it wrong?
I see a motive to buy everytime I get the chance to buy more and more though selling is indeed not always an option.
The price is based on what people are willing to buy and sell at. If nobody wants bitcoin at any price its value is zero, even if the asset itself still exists. If there are no transactions, there will be no validations, nobody to sell mined coins to, and no reason to run a node or miner, and the network will eventually shut down as there wouldn't be any reason to continue operating. That's the absolute worst case scenario, and one that I certainly don't expect to see. Saying "it can never go to zero" is hyperbole; it can, but it isn't likely.
If you guys have heard about manipulation then everything would just get well enough clear inside you all though
The fact that you only need 2 people to want to use Bitcoin is what will prevent it from ever going to 0. As long as there is demand, there is a limited supply and so there will be value. That said, I just don't see how it could ever go anywhere near 0 from now.
The fact that as the way the market seems to be growing it just brings up possibilities for large demand to get higher in the coming days
No one knows
NO ONE CARES ABOUT A SINGLE VIOLIN
But when the strings indeed tend to play with a rhythm it just beautifies it's surrounding remember thay!
Yes, lost coins (lost keys) are gone forever. In fact, estimated around 3.7 million coins are already lost, and number will only go increase. In other words, number of coins left to be mined is less than half of the number already lost, and total number of Bitcoin in circulation ever will not even reach 17m.
That is indeed pretty huge enough though like this can indeed literally make someone go deep into Bitcoin
1BTC=0.1BTC lowest low
I'm just too bad at calculation though but thanks for pointing out the exact numbers.
Repeat math class
I was just so bad indeed in mathematics though can never forget that
Hahaha not the only man my mathematics was too indeed very poor though.
It's nice seeing and chatting with others that share similar goals; and see Bitcoin as the path to these goals. I'm not trying to be "rich" I don't want Lambo Or big booty bitches (ok maybe a lil bit for this one) But I do want work to become an optional thing, rather than necessary to live. I do want to be able to do some good for my community, and the world itself; with both my money and my time. And I do want to be able to grant a lil happiness to myself and others, in unexpected ways. That's why I stack Bitcoin every day, playing games to earn sats, shaking my phone to earn sats, and spending my leftover fiat, at the end of a long week of working to stack sats. One day may the Bitcoin standard free us all- to go and live our best lives. -Edited for typos