I'm not in a 401k, etc., but if you have one, what prevents you from liquidating the entire thing when #bitcoin is at its lowest, paying a 30% tax and penalty, and just holding onto the real thing? Greed?
Discussion
my wife losing my seed phrase
did this years back
forgot where i heard it from but it was something like this:
'would you rather have 50 cents of Bitcoin or $1 in the legacy system'
My sister and my ex both tried and they were told nope only loans and or quit
Woah! So they are forcing you to have that 401k damn
Same. Common restriction
BUT! I did take out a 6% interest loan against it. So itās not totally useless
Why nobody sued govt yet for this ?! Why forcing people to hold something they donāt want or not letting them liquidate it. Thatās bad
I have thought about it for sure. Itās the only thing I have not liquidated to stack more sats. I do take loans from it to buy Bitcoin, but I like having something that I know I wont touch until retirement. At least for now
I did it last year. Bitcoin went up 100% and halved the tax/penalty I have to pay for it now in Bitcoin terms. I should have done it earlier but I didn't think it through soon enough.
You have to have the right timing. Liquidating at a time when the dollar value is as low as possible and the potential upside before the tax payment is due is the key.
I donāt want to give the government a single cent more in taxes by liquidating it so they can fund the military industrial complex, big banks, big Pharma, and the political parasites.
So I write it off to $0 and if it is worth anything more than that when I retire it will be icing on the cake but donāt get me wrong I have thought about it multiple times.
Not paying taxes would make sense if you would live somewhere in the offshore zone but definitely not in the USA ! Also, how can you be sure that govt wouldnāt screw up your 401k until you retire ?
Youāre still supporting those industries by giving reservation demand to scam leveraged equities and (war) bonds. Unless itās self directed and all in MSTR or a BTC ETF, but still. If it can be seized, it will be seized and used to support more war. Best case scenario, Bitcoin eats all of the monetary premium of those equities and bonds anyway, you book a -99.9% loss relative to self custodied Bitcoin.
401k's are a complete shitcoin. Change my mind.
Just a little diversity is ok, especially if you have family.
Did that already sir in the summer of '21. Fuck the banks.
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YOLOD it all in with only about 5 months of education into bitcoin. Good thing Guy swann was there to guide me through the longest bear markets that tested my conviction the highest. Never looking back. Stacked for 3 Ā½ years, it's just about time to start dancing. šŗ
Same š