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BTC Potential Government Regulation, FUD, Thoughts...

Discussion in 'The Kruse Longevity Center' started by ND Hauf, Jun 23, 2021.

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  1. ND Hauf

    ND Hauf Pleb

  2. JanSz

    JanSz Gold

  3. ND Hauf

    ND Hauf Pleb

    Good questions and I don't have the answer. I would lean towards GBTC being a NO because of the nature of the Trust. When it's converted to an ETF again I would still lean towards a NO because you don't directly hold the keys to the asset but I would bet my accountant/CFO/Controller would all push me to check YES.

    I would assume that the answer to question number 3 would depend on if you hold directly or via a retirement account and what type of retirement account.

    Personally I purchase my GBTC via a ROTH IRA account as to "hopefully" avoid all capital gains tax in the future.
    Hopefully = No Tax Law Changes

    We need a BTC Accountant to become a member. I lean on my accountant and controller to help navigate these waters.

    JanZ your new avatar inspires me to stay the coarse.
     
    caroline likes this.
  4. JanSz

    JanSz Gold

    There is a misconception that IRA accounts are tax free.
    The taxes are delayed and individual transactions are not accounted for.
    But after one is over 70.5 yo, he/she must remove a certain %% of his account yearly.
    That amount is treated as long-term capital gains and taxed accordingly, Federal & State.

    .
     
  5. ND Hauf

    ND Hauf Pleb

    Roth IRA vs. Traditional IRAs

    The biggest difference between a Roth IRA and a traditional IRA is how and when you get a tax break. Contributions to traditional IRAs are tax-deductible, but withdrawals in retirement are taxable. In comparison, contributions to Roth IRAs are not tax-deductible, but the withdrawals in retirement are tax-free.

    Be sure they pretty much always get their tax somewhere.

    At my age I prefer the Roth option. With growth potential of BTC I'd rather pay on the front side vs. the back to avoid potentially large capital gains increase.
     
    JanSz likes this.
  6. AlanaVint

    AlanaVint New Member

    Blockchain is the architechure for the latest iteration of the control grid of narcissistic abuse that uses money as its primary "tool" (it is really only a weapon then, as it is only a tool of abuse through forced dependency, subjugation to other's perception of your "worth", mistaking your worth for what you do, mistaking humans straiated into superiors vs inferiors with inferiors subject to exploit, e.g. profit etc etc). See Allison McDowel on how your lives will be more tightly under the abuser class' control with the use of AI, Electronic 'health" records, bionanosensors all operating on the grid of blockchain, all driven for the mandate of capitalism to "grow" so they have contrived a new market of internet of bodies where those bodies are used as data sources to feed human capital bond markets.
     
    JanSz likes this.
  7. ND Hauf

    ND Hauf Pleb

    CBDC = Surveillance/Control
     
    GavinH likes this.
  8. ND Hauf

    ND Hauf Pleb

  9. ND Hauf

    ND Hauf Pleb

    * Nice BTC breakout over the weekend. Good to see the 50 day MA get popped. First time above the 50d since early May. Last big move above the 50d MA was October 8th 2020. I don't follow Technical Analysis too closely anymore but this weekend it can't be ignored.
     
  10. ND Hauf

    ND Hauf Pleb

    Looks like Tether is in the hot seat again. I overlaid the USDT news releases today with BTC 4 hour chart. Might be coincidence but we saw a $1k drop with in 18 minutes of the first news release.

    https://u.today/tether-faces-us-criminal-probe
     
    Richard Watson and JanSz like this.
  11. ND Hauf

    ND Hauf Pleb

    I have job listings running for branch offices in seven different states. Very difficult to find labor in the industrial Electrical field right now. Lyn Alden with a way to reward people to go back to work. It's getting more and more expensive for business owners like me to hire/retain employees on any type of scale. Offering BTC as a negotiating point in offer letters is turning heads.

     
    DebraGM likes this.
  12. caroline

    caroline Moderator

    YES ....we need a BTC accountant in Australia. Anyone we talk to strongly advices us against BTC.
     
    GavinH likes this.
  13. ND Hauf

    ND Hauf Pleb

  14. JanSz

    JanSz Gold

    And the loudest are likely those who print money out of the thin air.

    ...
     
    caroline and ND Hauf like this.
  15. ND Hauf

    ND Hauf Pleb

    The IMF is starting to put out blogs regarding El Salvador's recent move.

    https://cryptoslate.com/after-el-sa...tcoin-as-national-currency-is-a-step-too-far/

    The IMF Blog ends with the quote below. Cracks me up how they always believe that more government is the answer.

    "As national currency, cryptoassets—including Bitcoin—come with substantial risks to macro-financial stability, financial integrity, consumer protection, and the environment. The advantages of their underlying technologies, including the potential for cheaper and more inclusive financial services, should not be overlooked. Governments, however, need to step up to provide these services, and leverage new digital forms of money while preserving stability, efficiency, equality, and environmental sustainability. Attempting to make cryptoassets a national currency is an inadvisable shortcut."

    https://blogs.imf.org/2021/07/26/cryptoassets-as-national-currency-a-step-too-far/
     
    GavinH, JanSz and caroline like this.
  16. ND Hauf

    ND Hauf Pleb

  17. Jack Kruse

    Jack Kruse Administrator

    way higher.
     
    JanSz likes this.
  18. ND Hauf

    ND Hauf Pleb

    GavinH, caroline and JanSz like this.
  19. ND Hauf

    ND Hauf Pleb

    JanSz likes this.
  20. ND Hauf

    ND Hauf Pleb

    John Schumacher likes this.

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