Subnostr

Azz 2y ago

QE and QT

Replying to

Pleb34

What happens if your bank fails and you cant get the money to pay cap gains tax?

Azz 2y ago

Rekt. Make a repayment plan. The capital gain can only be carried forward to future gains.

Replying to Neopatriarch

" What country is going to trust another's CBDC?"

Perhaps the same ones that would peg their own money to the fiat of another State, after they stole the gold of so many. It's not a lack of wisdom, it's the deviance of politics. The people are tricked; the politicians rewarded.

Obedience is the power of the State. Without it, they are abolished.

Walk away, be Unruly.

Thereafter, there may be a need for self defense.

#abolishTheState

Azz 2y ago

Correct me if I'm wrong. Credit money is supposedly market based debt obligations. But what are CBDCs? Promises?

I don't think they are equivalent

Replying to

Cyph3rp9nk

More people are becoming aware of the plan, this is good.

Azz 2y ago

#[0]

I'm not a fan of the war language used by Jason Lowery, and I'm sceptical of invoking the second amendment, but I think the power projection argument to SECURE property is the right counter argument to CBDCs. Particularly from a national security perspective for international trade. What country is going to trust another's CBDC?

Softwar as summarised by Chat GPT

"Bitcoin's "proof-of-work" function has the potential to be a strategically important national security technology for the US in the digital age. However, the American public lacks the necessary understanding of the complexity of proof-of-work, modern power projection tactics, the function of militaries, and warfighting. This lack of understanding could jeopardize US national strategic security as the future of US national strategic security hinges upon cybersecurity. Bitcoin has demonstrated that "proof-of-work" functions as a new type of cyber security system. Nations are beginning to recognize the potentially substantial strategic benefits of Bitcoin, and the US could lose its strategically vital power projection technology lead to its competitors if it does not consider stockpiling strategic Bitcoin reserves. If the US policymakers continue to categorize Bitcoin as "cryptocurrency" and allow institutions with conflicts of interest to claim to be experts in proof-of-work technology, they could compromise US national strategic security. The primary function of militaries is to protect and defend access to international thoroughfares, including cyberspace. Until Bitcoin, nations have not had an effective way to physically secure their ability to freely exchange bits of information across cyberspace without resorting to lethal power. Bitcoin can provide nations with the technology to impose severe physical costs on belligerent actors trying to access or interfere with valuable bits of information. The adoption of Bitcoin could represent a new type of cold war, a cyber space race. The US needs to recognize the potential benefits of Bitcoin and encourage its adoption to maintain its global power dominance."

https://twitter.com/JasonPLowery/status/1634691751293210626?s=20

Azz 2y ago

#[1]

Replying to

Strider

Make sure to report all zaps on your taxes next year.

Azz 2y ago

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Azz 2y ago

Heads up for any #AUSTriches who aren't aware yet, but Australia has capital gains tax exemption for amounts under $10k

"If your crypto is a personal use asset, capital gains or losses from disposing of it may be exempt from CGT. Crypto is a personal use asset if it is kept or used mainly to purchase items for personal use or consumption.

A capital gain on a personal use asset is subject to CGT if it cost you more than $10,000 to acquire the asset."

https://www.ato.gov.au/individuals/capital-gains-tax/list-of-cgt-assets-and-exemptions/#Cryptoassets

Does anyone know if you have pumped more than 10k into Bitcoin, can you buy sats for spending, keeping them separate, without complicating your tax return?

Azz 2y ago

I sat quietly on Bitcoin for years, not wanting to be responsible for my friends and family losing money if I was wrong or the time was wrong.

Turns out they don't listen to me anyway 🤣🤣🤣

Replying to

nakad.ai🔱🦁🛡️🏯📿

Are you suffering from zapache?

Azz 2y ago

If you want a net gain in quality content you need to accept a net loss in sats

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Replying to

₿ryan

The bottom line is people do not want to "loan the bank their money"

People want a "digital safe" that they can hoard all of their wealth and transfer it to others with the swipe of a card or push of a button.

Banks pretend to be this service but in times of crisis like these, the man behind the curtain is revealed and the public learns again that banks are not keeping your money in a safe and they are lending it out.

The marker really wants something that is like Bitcoin - digital, bearer, and easily transferrable but ultimately they want the value to be stable against the dollar.

It sounds like the normie public kind of wants a CBDC-like product unfortunately.

Azz 2y ago

Yeah, I can see the crisis being a narrative for CBDCs

Replying to

allen

I don’t wanna get too ahead of myself but we may be about to see a major public reckoning on what on earth banks even are and what they are supposed to do.

SVB didn’t go down due to “the tech bubble” or really anything to do with “banking Silicon Valley” being a bad idea. if anything, it’s a great idea! Their deposits went up ~2.5x in 2 years because there was a shit load of cash that needed to be banked! (debate separately to what extent that was a ZIRP phenomenon. I’m not saying this was good in the grand scheme of things. just that, in context, it was good business).

the problem is what to put the money in. most nocoiners seem to think that their deposits just sit there “as money,” and although I’m sure they don’t imagine notes in a vault, exactly, to a large extent that was true for SVB: they held treasuries - the “risk free” asset lmfao - which is as close to cash as you can get in a liquid security.

the conundrum here is that there literally is no such thing as “liquid dollars” - there is only credit. all dollar assets are somebody else’s debt. for all intents and purposes, treasuries *are dollars*. the idea of “keeping it in cash” at the relevant magnitudes is literally nonsensical. what would it even mean? deposit it at *another bank*? that hardly solves the problem!

the further you tug at this thread, the more you realise that dollars can only really be defined as vacuous promises by the US government to … one day give you slightly more dollars?!? that realisation is now getting aired in public.

I think the first consequence as this starts to sink in will be a massive preference for shorter term debt that can just be rolled over and over and over because the lesson of SVB is the duration sensitivity is absolutely not worth it. you can literally evaporate hundreds of billions of dollars by getting that just a little wrong even though you didn’t have much of a choice (“RISK FREE ASSET” LOLOLOLOLOLOL) this is yet another example of fiat driving up time preference and corrupting the information signals necessary to coordinate long-term capital investment. but oh well, the currency is collapsing so we have bigger fish to fry than the yield of long-dated bonds 😂

but the juicy bit is that we may be on the cusp of this reasoning, and the insanity of fractional reserve and central banking, finally being aired in public as people try to make sense of all this.

or maybe not, I dunno. maybe I’m naive. but I’m also bullish 🤙

Azz 2y ago

I read this from Australia's national broadcaster yesterday. Getting warmer.

"If you really want to point the finger, why not at the governments that rescued multinational finance corporations in 2008 and 2009 after they ran into big trouble as a result of taking on too much risk?

It enhanced what economists call moral hazard.

We now see more monopolies with the power to set consumer prices as they choose, and monopsony power, as Treasury research has recently showed, may explain why wage growth is stuck at low levels."

https://www.abc.net.au/news/2023-03-11/housing-crisis-cost-of-living-personal-debt/102077818

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Replying to

Love is Bitcoin 💜⚡

Depegged is the word of the day. 👀

Azz 2y ago

Some people didn't realise that pegging means getting shafted

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Azz 2y ago

I calculated that for my dog yesterday. Lol.

#[1]

Replying to

⚡️freedom fri⚡️e 55

#plebchain #coffeechain #truth #freedom GM PV

Azz 2y ago

Followed

Azz 2y ago

Zapping 21 sats instead of liking feels good. For me it means pressing a few more buttons and waiting for my wallet to load, which makes it more sincere. Sorry it's never going to be a life changing amount, but it actually means I value your input, rather than just giving plateaueds.

Replying to

Jawad Dashti

Azz 2y ago

👀

Replying to

jleger2023

NOSTRGRAM UPDATE - BULK ZAP PEOPLE WHO ENGAGE WITH YOUR POSTS

NostrGram now lets you reward people who engage with ANY post (yours or someone elses) by sending them a ⚡! You can ⚡ everyone who:

* Likes the note

* Replies to the note

* Whose reply contains a certain text

Watch this brief video for how it works, and refresh the page to get the update. And remember, your generous ⚡ is what makes NostrGram possible. 🙏💜

https://media.nostrgram.co/v/8f/media_8f8ea03ffb046.mp4

Azz 2y ago

How to stop bots?

Replying to

Ryan

I've convinced my boss to get a cold wallet! He says he will buy one for me as well, I just need to figure it out. He seems set on the Ledger. Any thing I should know, or opinions on a specific model?

Thanks 💜🤙

Azz 2y ago

What about blockstream Jade? They are a lot cheaper, but no recommendations?

Replying to