Replying to Avatar Dr. Bitcoin, MD

This!

My kids grew up watching me drive a used 2008 Kia Sedona minivan…until about a year ago when I embarked on teaching them another lesson: borrow dollars, don’t sell bitcoin.

My cybertruck cost ₿2.25 the day I had to pay for it. But by shorting the dollar, total cost were I to sell bitcoin today to pay for it would be ₿1.35, including finance costs, taxes, registration, etc.

I learned at a young age that borrowing was bad, especially for a car, which is why my wife’s middle of the road new 2017 Honda minivan cost me ₿7. Ouch.
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Marc 5mo ago

I hate debt, but it doesn't make sense to sell sats and pay cap gains to buy an $8,000 fence, so I'm taking out another loan.

I would try a bitcoin backed loan, but I can find a better interest rate with a FICO score backed loan.

That's how I know we are still early. The bankers are still retarded.

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Dr. Bitcoin, MD 5mo ago

Yup. And beware the bitcoin loan capital gains trap: if you give up unilateral control of bitcoin, it’s arguable you have transferred ownership and hence triggered capital gains tax.

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Marc 5mo ago

Good point.