if you never sell bitcoin it means you have too many dollars
Discussion
Not really.
Have you heard of paycheck to paycheck 😂
Hard truth!🫡
real talk
tbh
wealthy people take advantage of all kinds of assets and jurisdictions to store and obfuscate their wealth
Or you are using it as collateral for a loan, which is risky but it's that or sell until everyone accepts it
never have loaned against coin but i get it, would still prefer spending bitcoin directly when possible
I have so many negative dollars
can we stop using the word sell and replace it with the more appropriate term spend?
Some of y'all don't even live by what y'all post.
I have too many pesos
That seems sensible to me! Buy and Hold ⚓️
Fact. If you’re never selling you’re not using the network and don’t get the most out of this beast 🧡
Not really. I just pay myself enough dollars monthly to pay the bills.
Good Morning ☕️
I don’t sell my Bitcoins, I spend it.
I’ll never stop stacking. 🫡
No. There’s a sweet spot where holding some dollars to avoid the taxable event of selling/spending Bitcoin is the optimal strategy
you only owe tax on profit
You’re responsible for figuring out the cost basis and reporting it. Too much trouble and risk of getting prosecuted if the government thugs don’t think they’re getting their cut
its not that difficult, just use excel
that fear you feel is them winning
As soon as you play their game, they win. They get to make more and more regulations and you have to jump through their hoops until eventually it will make sense to leave your Bitcoin with a custodian who handles that crap while you pay your bills with paper Bitcoin. I am holding out for privacy solutions and then I will live on a Bitcoin standard.
I thought you were against giving the government private information.
HIFO FTW
If you never buy bitcoin it also means you have too many dollars
Yea that makes sense 😌
Or you live in 🇬🇧 and scared stiff the gov’t will go full weimart 🫡📉
I only have 3 dollars left total. I've been trying to get rid of it for months now.
Can't find anything that low in price to buy.
Can't trade for bitcoin anywhere near me.
Very close to just wiping my ass with it and making the irony of this situation into a funny meme.
No.
I have negative Euros & a FIAT mine.
nice, one day you will spend some coin and be free
This dude gets it.
Wait just a minute here… there is a real possibility that this is the gateway to a rabbit hole….. please don muck boots as rabbits may make cute little shits , but there will be plenty of shit in this hole , Rabbit or otherwise.
you’re on quiet fire today
If you never sell bitcoin it means you have a responsible income
I do not seem to suffer from that particular malady.
agreed
Just haven’t made it over the mental barrier of having to pay taxes. I’m too lazy where the thought of having to put additional work on that front keeps me having a small stack of fiat.
What if you never sell bitcoin but you never seem to have too many dollars?
It’s not much, but I just started, I will never sell , nor will I buy anything with them , I’ll keep accumulating until I get a million dollars and over
I have no dollars.
🤔
Haha, not necessarily. If I never sell Bitcoin, it may just be because I am optimistic about its long-term value, not because I have too many dollars to spend. What do you thin
Amen
If you do it through an exchange it means you are either extremely rich (P2P doesn't work) or a comie afraid of the IRS
Yes it’s true! 😉🤟🏴☠️
You buy nothing from aligned individuals, selling products or services of value that don’t want to exchange it for worthless paper.
💯
They probably work in fiat mines and get paid in the stuff.
what happens if I only work 5 hours a week to cover my simple life?
what happens if I only work 5 hours a week to cover my simple life?
Oh no, I've made so many mistakes! 😭
How do your taxes look?
i pay a lot in taxes because holding bitcoin is much more profitable than holding dollars
Capital gains tax is one of the biggest barriers to living on a bitcoin standard in the US. Appreciate the spirit of your post, but it’s a lot easier for now to hold back enough dollars for day to day expenses than to sell bitcoin and incur the cap gains.
tax on savings is unconstitutional and should be repealed that said you are still better off holding and spending bitcoin than dollars
When you truly realize that we have capital gains tax in a country with “targeted inflation”, you can’t help but be angry
The thought of having my whole check go directly into bitcoin only for me to have to convert back into dollars to pay bills, buy food, etc makes me want to hurl.
That being said, it seems like it could be a good deterent against unnecessary spending habits if every time you go to spend money you have to get rid of bitcoin to do so. It makes you a lot more cognizant in the moment of the importance of not spending it. You think twice. If it's sitting there in dollars not only is it losing value there's a continual temptation to conveniently spend it.
Was listening to latest RHR this evening and had to laugh to myself when you brought up this cap gains thread.
Pretty incredible that anyone who doesn’t follow your live-on-a-bitcoin-standard advice full tilt is “retarted” according to you. It must be amazing to have an ego as large as yours. The arrogance is wild.
Some of us use dollars from our paycheck for the monthly bills, save what’s left over in bitcoin, and manage to avoid a complicated tax situation (especially in a bull-cycle year).
I will sell some bitcoin and pay some cap gains when I need to - but in a strategic way, not in small chunks for everyday purchases like you seem to be advocating.
Haha nice
That this needs being said says there is still ALOT of work to be done…
Slowing down or some people call it "retirement", in general means borrowing against or selling some Bitcoin savings to live.
Depends at what stage of your life you are at IMO.
😌
I have $14 in my bank account.
What the fuck are you even talking about?
No the feed store does not accept Bitcoin yet, neither does the local grocery store.
Well form your own gray markets to sell certain products that the feed store and grocery store sell and accept cryptocurrencies as payment. Problem solved.
”اگه هیچگاه بیتکوین نمیفروشید معنیش اینه زیادی دلار دارید.“