Hey #[0]​ that ‘Going Digital’ spot you did was incredible. At 21 I was drinking goon bags from a Hills Hoist and had 0 understanding of monetary markets.

The most eloquent explanation of why bitcoin is important I’ve heard in some time.

Keep that shit up.

good morning, April First is the worst day on the internet

🤡🫵🤪

Good morning friends.

Amount of #bitcoin on exchanges is decreasing even though 900 new BTC is mined each day. Next year only 450 new BTC is mined each day. Stack accordingly.

So I think I got some clarity today on this. To take funds out of accumulation phase I.e. your super account they have to be moved into your pension account, you can’t just take a lump sum out of accumulation to a bank account.

Therefore anything over your transfer balance cap if withdrawn from your pension account as a lump sum will be subject to 15% tax and then prob 30% when it’s over $3m if that passes.

This doesn’t mean you can’t leave a large balance in the pension account or your super account. Does that make sense?

So I think I got some clarity today on this. To take funds out of accumulation phase I.e. your super account they have to be moved into your pension account, you can’t just take a lump sum out of accumulation to a bank account.

Therefore anything over your transfer balance cap if withdrawn from your pension account as a lump sum will be subject to 15% tax and then prob 30% when it’s over $3m if that passes.

This doesn’t mean you can’t leave a large balance in the pension account or your super account. Does that make sense?

I find it hard to follow. Who knows how things could change in the future?! 🥴

In the meantime, 294-25 of the Superannuation Industry (Supervision) Act 1993 (Cth) asserts that the TBC applies only to the amount of superannuation savings that a person transfers into a retirement phase income stream and that the balance of a person's transfer balance account does not include any lump sum withdrawals.

Some of you might remember me talking about this a couple of months back in a note here, but I started writing a surrealist fiction book about Bitcoin some time last year.

A few months back, I ran into writer’s block after getting close to Chapter 6 (out of a potential 20+ chapters) and am still stuck there.

In order to force the issue and get myself out of that rut, starting tomorrow, I will post one chapter every week or two to my Ghost blog.

Stay tuned, I suspect you’ll enjoy it.

Best thing about Nostr?

You can tell it like it is, without fear of being banned. Hard to overstate how vitally important this is.