Nostr Web Client

Man owns nothing clearly. 😂

I own Bitcoin. I use a lot of other stuff.

Think about it like this - my rent is $14,400 a year. If I bought a house in my state at the median price and paid the median tax rate (1.62% plus local taxes) I'd pay $8,190 a year.

Either way, if you don't pay those you're heading out on the street. Doesn't matter if you call yourself an "owner" or not. Doesn't matter if it was in the terms of the agreement beforehand. You know that people vote to increase taxes right? In 30 years I can guarantee you'll have a different agreement.

So I'd spend 4.5 Bitcoin to pay $6,000 less a year and have the same life, or I can keep 4.5 Bitcoin and "own nothing". This also doesn't even factor in the reality that 90% don't pay cash and probably owe interest to the bank, who are the real owners.

Ownership is about control. If I told you that you can have Bitcoin but if you don't give me 1% of it's value every year I'm coming to take it from you, would you call that owning it? Hard reality, but it's the reality.

Reply to this note

Please Login to reply.

Discussion

516add19... 1y ago

Ill say this that no one talks about. People that dont pay their taxes… nothing much happens. Ive seen it happen. Years will go by before any court proceedings. And in the end you could just catch up and pay and they would leave you alone. People like to pretend if you dont pay they cone and take your house right away. Like thats not a reality.

Another point. You know you can buy a house for like 100 k and yearly taxes can be in the hundreds of dollars. I mean less that $1000/year taxes. Again taxes are the price you pay for roads and electricity hook up, police service, etc. great value. You can buy a house with zero taxes also. You know that right? Zero property tax. Zero.

Zach⚡️ 1y ago

In places where property taxes aren't enforced, you are THE owner. We agree on that. I'm basically just trying to shame people into hating property taxes so that the value proposition of real estate becomes better for regular people lol.

kc 1y ago

Aaaahahahahaha Zach that was classic. With the advent of bitcoin, I’m sure that property will be attainable and even cheap really really soon. Just keep trading green backs for orange sats.

kc 1y ago

I didn’t know that about the U.S. no property taxes? Does the land have to be in unincorporated areas?

516add19... 1y ago

Ya exactly. Looked into it a bit but opted for roads lmao. Enough people in Ontario do it though. That type of “freedom” exists if people want it. They still have to obey the law though so are they really free? 😂

kc 1y ago

MountainLion…. You win. Zach just said it. “Ownership is about control.” You own it as long as you control it. If and let’s hope the day never comes, but if you don’t pay and lose control then you lose ownership. But until you lose control….you own!

516add19... 1y ago

I can live with this. I own it until I don’t. Come at me bro! I’m ready! 😂💪

kc 1y ago

Get ‘em!

This was fun fellas. Healthy conversation is needed in this internet connected world.

516add19... 1y ago

Most definitely!🫂

kc 1y ago

I swear that I didn’t search this, and haven’t seen this season of Yellowstone yet. He can’t afford the inheritance taxes to keep the ranch. I guess when you have a lot of land or property… that is when you lose the ranch. When it is a small operation you might just lose a house and a few meters hahahaha.

https://youtube.com/shorts/JY9wxC9U8mQ?si=uZ6-8zqxqnyjs0rn

516add19... 1y ago

I would ask is he the original owner though. Because if he's not the original owner it’s not that he cant keep it. It was never his. It may have been able to be passed to him but he is not the owner to begin with. So he didn't “lose” anything.

I guess in this example im thinking nothing was taken from him because it never became his in the first place until its legally inherited.

Like as much as I want my kids to inherit my properties, it wont ever be theirs if they dont pay the taxes on it so therefore they never lost anything if they dont get it. Now if they start paying and receive the property then stop paying taxes they forfeit the property actually. I really have a hard time seeing how a house/property could be taken from you unless you did something you agreed not to do. Like no one is stealing peoples homes. When we bought these homes we signed and agreed to the taxes. If we dont pay what do we think will happen? The exact thing we agreed to. House will be forfeited if taxes stopped payed.

All I know is legally when a house is “taken” because taxes were not paid the house is actually forfeited by the original owner. The documents arent going to say stolen house. Its going to say the owner did not keep the agreement they signed on the dotted line.

Now im not exactly sure the whole details of the show but it would totally suck to be able to inherit a huge property but not being able to because the tax is too high. I wonder if there is a way around those taxes like putting the property in the sons name before you die. Tough for sure.

kc 1y ago

You are correct on so many of those statements that I don’t know where to begin.

You should be, or you must be, or you just understand things on a detailed level that 98% of people don’t.

No the guy isn’t the original owner, nor was the property put into his name so he didn’t lose it. He wants to inherit it, but the taxes are too much for him. He may have lost the opportunity to keep the family ranch going, but he is more of a family man than a rancher.

There are 3 different tv shows that make up this cowboy go west and claim some land series. “1883, 1923, and Yellowstone.”

Basically, the guy in the clip that I attached was the great grandson, or great great grandson of a family that traveled west until they reached the property in question. They received it from the “indians” so they didn’t have to pay for it. Throughout the years they ran a large successful ranch with tons and tons of land, but obviously something changed and the money is running low.

516add19... 1y ago

Thanks for the kind reply. And now I want to watch this show haha. I actually heard about it last week and now you mentioning it has sparked my interest once again. 🙏

kc 1y ago

I didn’t mention the only paragraph that matters. I would choose the 4.5 bitcoin any and everyday. In 10 years I would borrow fiat from a bank and put down 1/2 btc as collateral. Bitcoin will be over a million easy by then.

kc 1y ago

And buy a house paying back in fiat and still hold the btc.