many of us expats have considered and weighed the cost/benefit of renouncing. the liability that comes with the "exit tax" is just simply too high for most of us
Discussion
And I’ve been and may again be among you.
Move all your net worth into Bitcoin and pick a jurisdiction without an extradition treaty with the US? Seems the latter is where Ver went wrong.
I suppose that would be one the costs of renouncing. Drastically limiting the nations of the world that you could visit.
Basically, yes. And once you have family, that calculation gets even more complicated.
The problem, mostly, is just with the information you give Uncle Sam. I haven't seen much analysis about people's "declaring" of bitcoin assets if they never sell with their taxes, but that'd be a worthy issue for any Bitcoin podcaster to cover.
also: we shouldn't have to feel like we're criminal for simply denominating our life in sats!
If you’ve not read nostr:npub1hk0tv47ztd8kekngsuwwycje68umccjzqjr7xgjfqkm8ffcs53dqvv20pf's Cryptosovereignty, I highly recommend it. A relevant quote:
“If we are to free humanity from the shackles of fiat money and the state’s totalitarian economic control, we must remember that we are only free without the state or their allies of banking and fiat money.”
was unaware! will check it out