Let’s simulate tax consequences of HODL vs. Trading. Assumption: on average, a trader will merely break even in Bitcoin terms. This is equivalent to periodically selling all bitcoins and buying them back at the same price, but having to pay tax on the gains and hence buying back fewer bitcoins.

I also assume the trader sells every time he 10x’s the dollar value of his bitcoin holdings. I assume all gains are long term gains, where tax rate is 10% for most people or 28% for high income people.

Long story short: such “mediocre” trading, despite such amazing returns, could cost you somewhere between slightly less than half your bitcoin and 85% of it, if you traded from bitcoin prices of $1 to $100,000. But the trader does pay less in tax…cause he has a shit ton less value at the end.

See attached spreadsheet images.

I don’t think Jesus was either.

John 2:15 NLT

[15] Jesus made a whip from some ropes and chased them all out of the Temple. He drove out the sheep and cattle, scattered the money changers' coins over the floor, and turned over their tables.

Yes. If you use a passphrase on your seed, you really really really MUST know your wallet identifier.

That many bits per second sounds expensive. What’s the wholesale cost per month for the ISP for that amount of traffic?

Interesting take…

Is it Noe-Stir or Naw-Stir?

I like it. We can import an angels vs demons mythology.

Let’s start a conspiracy theory:

1) Of course we all know aliens are really just very technologically advanced humans living in a sort of government regulation free Galt’s gulch, but

2) few realize these “aliens” need more genes for their gene pool for optimal future outcomes…thus they need to select the best from humanity to import into their society.

3) And that’s why Bitcoin was born. Their society needs genes for low time preference, persistence, hard work, fairness, etc…and they want a trustworthy record of who moved first and for how long. You see, Bitcoin is really your gulch admission test.

Google operation chokepoint. Bitcoin wasn’t exactly the focus but was collateral damage.

Historically, sex work has been suggested as a natural user of Bitcoin. I don’t think in reality this really panned out because of control being exerted on the on/off ramps.

Ditto. I never meant to be an all-in maxi…it just happened while I was busy at work mining fiat, stacking sats, and saving lives.

Congrats to gold for achieving a new inflation adjusted all time high for the first time in 44 years!

Yes. Fact check: true.

How’d the debate go?

Governments will always prefer bad money they can print over good money. It’s gotta be some universal law.

lol. Zapped!

Gold failed as money because it couldn’t be transferred as fast as deals could be made. Bitcoin fixes this.

BUT…

I predict gold will be used as a basis for a new major currency precisely because it is inherently centralizing and trust requiring. While this is terrible for the truster, it’s too tempting to pass up for the trustee.

That’s why we require double blind placebo controlled trials before bringing new drugs to market.

Well, unless it’s Covid. So, you see, nobody is immune to this…incentives matter.

It’s a question of how much…if they want to influence elections, they’ll treat candidates differently in terms of money printer.

Democrats don’t believe in the constitution or rule of law. I haven’t seen Trump do the same. But he’s an asshole, I grant you that.

My best guess is the Fed will want Trump to have a bad economy so they’ll cause dollars to become scarce while they’ll make money easy for Harris.