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Andy Dufresne posted:I'm always fascinated watching the order book and live pricing on Coinbase. At this moment (which won't help goons reading 5 minutes from now), the price is $30 above $35k and there is theoretically 315 BTC or $10 million worth of buyers right at the $35k price point, which should present quite the challenge to dropping below that point. I am predicting that the wall will fall instantly once the price hits that point though. Oh, are we back to ghost walls? I see coinbase learned from the masters at MtGox.
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May 22, 2021 03:21
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I just find it hilarious that one guy can pretty much disrupt an entire industry by shitposting.
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May 22, 2021 03:23
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pofcorn posted:I just find it hilarious that one guy can pretty much disrupt an entire industry by shitposting. Elon Musk is Donald Trump except for millenials. He's a dangerous moron and we better hope the domestic birth requirement for presidency continues to exist.
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May 22, 2021 03:25
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“industry”
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May 22, 2021 03:37
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pofcorn posted:I just find it hilarious that one guy can pretty much disrupt an entire industry by shitposting. its a fake industry that produces nothing but carbon dioxide
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May 22, 2021 03:45
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punishedkissinger posted:its a fake industry that produces nothing but carbon dioxide How dare you sir! ... it also prodces cat-hair covered dried strawberries.
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May 22, 2021 04:31
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Liquid Communism posted:... it also prodces cat-hair covered dried strawberries. Brain damage, shattered marriages, and lost life savings optional but highly recommended.
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May 22, 2021 04:34
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kw0134 posted:The Bruce "Pattaya is a perfectly reasonable place to have a buttcoin conference" Wagner saga should never die. how is the pedoguy doing lmao elon called a guy who rescued thai kids a pedo and then got into crypto
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May 22, 2021 05:02
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xtal posted:The best time to buy is never.
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May 22, 2021 05:18
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I've wondered if legally declaring Bitcoin to be gambling might be a way to regulate it (possibly out of existence). I just did a quick search, and it struck me that counting crypto as gambling could possibly unintentionally make it more friendly for cryptocultists, as there are apparently a bunch of rules for how to declare gambling wins and losses. And if you are considered a professional gambler then normal income tax applies. I guess it's probably better to declare the whole thing a giant decentralized securities fraud and just be done with it entirely.
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May 22, 2021 05:19
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Reminder: the bitcoin market is heavily manipulated and full of rubes behaving irrationally. it is certain to crash spectacularly at some point, but it is impossible to say when that will happen. it could be this week, it could be next year. due to this unpredictability, placing bets that it will crash in a given time frame is very nearly as risky as betting that it will go up in the same time frame, so don't
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May 22, 2021 11:45
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May 22, 2021 12:02
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CaptainSarcastic posted:I've wondered if legally declaring Bitcoin to be gambling might be a way to regulate it (possibly out of existence). I just did a quick search, and it struck me that counting crypto as gambling could possibly unintentionally make it more friendly for cryptocultists, as there are apparently a bunch of rules for how to declare gambling wins and losses. And if you are considered a professional gambler then normal income tax applies. That's interesting - in UK tax law there's basically no such thing as a "professional" gambler, which means wins aren't taxable (but also losses aren't deductable).
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May 22, 2021 12:02
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I'm guessing a professional gambler is someone participating in Poker tourneys? I mean I like the idea of some dude sitting at a slot machine 9 to 5.
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May 22, 2021 13:46
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busalover posted:I'm guessing a professional gambler is someone participating in Poker tourneys? horse races are very very big over here, i'd guess that way before poker. also just a pretty significant speculative bet market, you're always seeing bookies put up their rates for x candidate winning the election, poo poo like that.
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May 22, 2021 13:48
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Party Boat posted:That's interesting - in UK tax law there's basically no such thing as a "professional" gambler, which means wins aren't taxable (but also losses aren't deductable). what a libertarian haven that UK
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May 22, 2021 13:58
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Alan Smithee posted:what a libertarian haven that UK no, aristo haven. old boys going to the ponies and making/losing a fortune is so ingrained that of course the tax incentive structure is built around it.
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May 22, 2021 14:00
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CoolCab posted:no, aristo haven. old boys going to the ponies and making/losing a fortune is so ingrained that of course the tax incentive structure is built around it. I do wonder how this relates to entire noble families losing their fortunes because the failson patriarch can't stop sucking at cards
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May 22, 2021 14:09
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pofcorn posted:I just find it hilarious that one guy can pretty much disrupt an entire industry by shitposting. He's already done it to payment processing, electric vehicles and space travel, so why not Cryptocurrency?
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May 22, 2021 14:54
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I think he just put money and branding in paypal and didn't do much more than that? Like the company he build was bought by paypal for the name alone?
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May 22, 2021 14:57
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CoolCab posted:no, aristo haven. old boys going to the ponies and making/losing a fortune is so ingrained that of course the tax incentive structure is built around it. The relevant case is Graham v Green (1925). As far as I'm aware Mr Graham wasn't an aristo but he did have enough cash to make plenty of bets on the horses and was good enough at it to make quite a bit of money doing it, to the extent that he didn't need (or have time for) any other employment. The taxman said "I'll have some of that" but in court the judge ruled that gambling wasn't trading and so the profits thereof were not subject to tax. It's probably a good thing that he did, as allowing gambling wins to count as trading profits would therefore mean that gambling stakes would be deductible trading expenses, making it very easy to manipulate your tax liability.
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May 22, 2021 15:06
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Party Boat posted:The relevant case is Graham v Green (1925). As far as I'm aware Mr Graham wasn't an aristo but he did have enough cash to make plenty of bets on the horses and was good enough at it to make quite a bit of money doing it, to the extent that he didn't need (or have time for) any other employment. The taxman said "I'll have some of that" but in court the judge ruled that gambling wasn't trading and so the profits thereof were not subject to tax. It's probably a good thing that he did, as allowing gambling wins to count as trading profits would therefore mean that gambling stakes would be deductible trading expenses, making it very easy to manipulate your tax liability.
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May 22, 2021 15:18
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Tell me more about how taxes are reasonable
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May 22, 2021 15:23
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xtal posted:Tell me more about how taxes are reasonable in a tax free society you would be one of the first to go
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May 22, 2021 15:24
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punishedkissinger posted:in a tax free society you would be one of the first to go Is this a bad thing?
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May 22, 2021 15:28
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Hoop Dreams posted:Is this a bad thing?
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May 22, 2021 15:31
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Nice try, anarchists don't pay taxes and get death threats already.
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May 22, 2021 15:34
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xtal posted:Tell me more about how taxes are reasonable Is this what brain damage posts like?
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May 22, 2021 15:43
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Any perceived persecution arises because the brand of anarchism xlol embraces results from being an unemployable dumbass, not because society specifically targets those political beliefs. (Though, those beliefs often arise from being an insufferable idiot, so maybe this is a syllogism without distinction.)
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May 22, 2021 15:47
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https://mobile.twitter.com/CryptoWhale/status/1396100822245777408
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May 22, 2021 15:59
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absolute king move IMHO
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May 22, 2021 16:00
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The Something Awful Forums > Main > General Bullshit > Bitcoin: HA HA.. All you moon bois have been scammed and you cant do poo poo about it edit: moderators please change the thread title to this thanks in advance
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May 22, 2021 16:06
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Rebased
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May 22, 2021 16:11
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xtal posted:Tell me more about how taxes are reasonable Problem First, if you have a side-bitch ideology cooking somewhere, don't sweat it. Fightin' indirect taxation for the Gossamer State is compatible with *all* creeds. It's cool like that. You're a cool anarchist now. Unless you don't want to be an anarchist. Whatever! Stuff this meal ticket in your eye-socket and let's see if we can steal some *love* back from the robber barons at the customs agency and the *banditos* at The Insulindian Financial Oversight and Competition Committee. Solution Turns out those Financial Oversight Committee gangsters stuffed millions of hard-earned dividends away in the last place anyone thought to look: the hearts and minds of everyday Revacholians! You need to spread that deregulation gospel to the *people*. Tell them about that foreign fare tax. Preach that 98% gross burden. Preach it, preacher man! Set the brothas free. Taxes are racist. 
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May 22, 2021 16:37
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EorayMel posted:Problem Might makes right. Do as thy wilt, is the whole of the law.
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May 22, 2021 16:38
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I got a Chinese horoscope reading that said I would make an investment this year that would fail, then on a lark I told my buddy I would invest in Bitcoin so that it would fail. I got a small amount of Bitcoin and the very next day crypto started crashing. I'm getting freaked out by my Chinese horoscope powers over here.
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May 22, 2021 16:48
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So I guess my sister is way more into crypto than I thought. I got a lecture about how I need to be investing in block chain technology today and she detailed her plans to build a crypto consultancy to help other people invest in crypto/block-chain. She had canned answers for all my well-researched objections -- it was kind of scary actually. Two weeks ago it was "you need to get in on bitcoin" and today it was "I actually have very little bitcoin holdings, my investments are in block chain companies". She also hates Elon now lol (he was an idol not too long ago).
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May 22, 2021 17:24
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That just sounds like higher level Darwinism at play if you ask me. Bitcoin is a way to weed out the dumb people. Only the smartest survive.
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May 22, 2021 17:49
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latinotwink1997 posted:That just sounds like higher level Darwinism at play if you ask me. Bitcoin is a way to weed out the dumb people. Only the smartest survive. With the smartest being the coiners, obviously. Do you want a free copy of The Blockchain and talk about virtual currency with me?
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May 22, 2021 17:54
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Sounds like she's come around, if in backwards fashion, to selling shovels during the gold rush.
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May 22, 2021 17:55
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