No one is coming for your unrealized gains
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that will never go ANYWHERE
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Crashing the economy in one fell swoop would certainly be interesting
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Anything is better than Trump
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I don't want to come off here as phony bragger, troll or HH wannabe.
However, this shit is exactly why my advisors recommended that I consider a change of address starting about 4 years ago.
If you have anything to add (positive or negative) please do so.
To date I have only taken part of their advice.
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I have no idea what you really mean but I moved from Portland to Montana a few years ago to get away from the Batshit and always-in reading taxes with little to show for paying them.
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This is partially why Bitcoin is necessary
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I'm pro crypto but commodities are the og tax protection.
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This plan is partially aimed right at Bitcoin.
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My move has been off shore.
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He's clearly talking about moving out of the USA
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Where is a better place unless you’ve already made your nut?
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I'm no expert but I would think the USA is still the place to be for awhile longer. If you've made your nut, perhaps El Salvador or Costa Rica.
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I retired in 2007. Assets can be moved, I can stay if I want. However, there are advantages to moving camp as well.
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I’m in my late 40s. Best I could do was move out of Portland and to Montana for a political and tax change, along with being in a business-friendly environmment.
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Good for you!
I had the good fortune to hang it up at 50.
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I keep asking where this vast pool of money is for cashing in Bitcoin? Or do the inventors hold it all for themselves and spend it? What backs bitcoin. I say not a dime.
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If you could pay your taxes in bitcoin, then it would be game on. So the local sheriff is backing the dollar and not bitcoin. That will likely never change. Sure you can convert to dollars to pay them, but that creates a taxable event and props up demand for the dollar.
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Not an answer to my question.
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They are only taxing billionaires
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Listen closely to the DNC. At their root, today’s Democrats consider our money to be theirs that they let us hold onto various fractions of over time before they confiscate it.
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My issue is it's manipulated all the time, no off button and you could go to zero in an instant since there are no protections or stop trading moments.
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They use it as collateral for leverage plays in dollars.
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OK so there is absolutely not one thin dime backing this "currency". No insurance, no safeguards just bupkis! I'll trust silver, gold, lead and bread. We saw what happened with 'Ol Sam.
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Agreed. I’m no fan of fiat currencies, but they are at least backed by the threat of force. None of the big ones have any sort of physical backup .
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Just that it is rare... that's the only draw…but there is no value to it I can see.
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The draw is its use outside of a traditional banking system. Which is a good reason to like it and for governments to hate and eventually sabotage it once it’s obvious that they can’t compete with it.
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Here's an eight minute video. It starts about one minute in. "Everyone hates Bitcoin before they love Bitcoin."
I can easily see you being a Bitcoin proponent two years from now.
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So what happens when the government bans the use of crypto and has the NSA monitor any US computer connecting to a crypto site? The commie dems would do this in a heart beat to make sure the "rich" are paying their fair share. They already require a crypto statement on every 1040 filed by taxpayers.
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Yes that's the number one problem. Crypto/Bitcoin could have a perfect transaction use case, be a perfect store of value, be backed by some cool mineral that no one has even heard of yet and still be worth nothing overnight by the flip of a switch because it is good.
The irony is that when/if bitcoin is ready to replace the dollar and its value and utility are very high and use case understood and ready to execute, is the precise moment that it will get shut off or sabotaged.
