I think I needed to hear this.
Anyone else listened to this episode and want to discuss?
If the government decides to investigate you, they can still easily find out, by asking the KYC exchange, how much Bitcoin you purchased and when.
They will also be able to see that you sent it somewhere, that you paid a lightning invoice.
I guess you can claim you later lost the coins.
And it will be very hard to prove you did not.
I guess they can say capital tax gain tax is due anyway, as they know you had Bitcoin.
Who knows what is going to happen and how tyrannical the governments may become.
But also, in another future dystopian scenario, to legally spend or sell Bitcoin, you may be forced to show the source of funds!
If this happens, KYC-ed Bitcoin may be "better" and non KYC-ed you will only be able to sell using shadow peer to peer markets, probably at discount, like an illegal good.
We just don't know. I may be too pessimistic.
Of course I hope none of this happens, we will have freedom respecting governments everywhere and Bitcoin will be tax free.
I wonder what others think on this.
Amazing resource
If I needed a website, I'd definitely use
Yes, something like that.
Or a mixed economy.
Or regulated capitalism perhaps?
Do the results, measured by breath hold time, really matter that much?
Isn't it that the process, the doing of the breath work, is what actually matters and has benefits?
I like to think about it this way. I usually get to 1:30 only, occasionally more.
Good luck!
Looks compatible with the statement that the higher your understanding and conviction level about Bitcoin, the higher allocation to Bitcoin you have in your financial assets portfolio.
Yes, in fact, science of largely about invalidating hypotheses.
In other words, finding errors in our current models, saying what is not true, and coming up with better models, that better describe the reality, and are falsifyable, too.
Andrzej Dragan says it well.
https://www.wired.co.uk/article/quantum-theory-speed-light-dragan
And what we have today, in the West, or anywhere else in the world, is NOT a capitalism.
It is a mixed economy, as Ayn Rand used to call it.
Elements of freedom.
And a lot of regulation.
Whatever happens, whatever thought appears in my mind, I am free to decide what to do: keep thinking about it or let it go.
Secret to happiness?
Coin Corner KYC verification 😖 in progress 😆
Thank you
And I'm not in the US, so Strike is unfortunately not available to me.
By Osmo you mean this? https://en.osmowallet.com/
Looks like Guatemala only.
Any other ideas, please?
Looking for an app where I can have a balance in fiat and send Bitcoin and have fiat balance charged.
Yes, it has negative expectancy.
Can you please share the casino URL you were using?
Just in case I wanted to consider some risky behavior :-)
I recommend listening to this. A great expansion who is evil and who is better, and why we should support Ukraine to minimize horror and deaths.
Of course I'm biased because I live in a country that may be next, if Ukraine falls.
Thoughts on using nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 more in day-to-day use in the States.
I’d love to spend (+ replace) Bitcoin wherever possible. Not just to facilitate adoption, but also to reduce the “normalized invasion of privacy” over fiat networks. This can be achieved using prepaid debit cards, purchased with Bitcoin from a service like Strike.
However, in USA, every single sell/spent UTXO is a taxable event, which includes (to my knowledge) small spends.
How can we utilize Bitcoin conveniently, without needing to deal with the minutiae of what amounts to a “buy + immediate sell” order, from a tax perspective?
My understanding is you have to report every sell order, even if there are no capital gains… right? How do Bitcoin businesses do it? How to stay within legal parameters and not end up with a migraine?
nostr:nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle any thoughts you have re: how to make the strike user’s experience more “tax convenient” would be appreciated 🙏🤙
This is an important and complicated issue.
I struggle with this a bit as well.
As it stands today, in most countries, each time you sell Bitcoin, also when you buy anything for Bitcoin or even zap someone, it is a taxable event.
At least that's my understanding.
This means our options are:
1. Ignore it, violate the tax code and hope they will not catch us or will not chase very small amounts, try to buy non KYC. But this is risky.
2. Attempt to report tax properly for every transaction. But this is impossible from a practical perspective.
3. Do not sell or spend Bitcoin at all. Until the government declares it as a non-taxable event, if ever. But then what about adoption?
What other better options do you see?
I'd like to be wrong on this.
But, like Saylor said, the moment they declared Bitcoin a commodity, it meant it cannot be "money" from the government or tax perspective. It can be a treasury reserve asset, a digital gold, great, but not money...
Good.
Listen to this podcast by Yaron Brook to see why supporting Ukraine is:
1. morally the right thing to do, for Europe and America,
2. why this helps reduce, not increase, the risk of the world war
TLDR, Russia is evil, in actions and ideas, Ukraine is better, for the Western World, to stay safe, the cheapest way, in money and lives, is to send weapons to Ukraine
I agree
And read this to go deeper
https://www.amazon.com/Fossil-Future-Flourishing-Requires-Gas-Not-ebook/dp/B098M3Y7VC