This is the current situation.

- You buy something with Bitcoin:

In most countries you have to pay vat and in addition capital gains between the difference of buying and selling Bitcoin if you have made a profit.

This is an approximate 20% + 20% (of the profit) (It depends on each country).

- You sell Bitcoin:

You pay between 20% and 30% of the profit (Depending on country).

You have a lot of Bitcoin:

In some countries you will pay wealth tax.

You have a lot of unrealized gains:

In many countries they are trying to apply this, soon we will have the first country to do so.

If you have bought bitcoin with KYC you are screwed, the exchanges will end up passing all the data to the states and their respective tax offices.

If you have non-kyc bitcoin you can only use it to buy a soda, if you use it to buy a car or a house they will accuse you of money laundering, drug trafficking or whatever they want.

And you think bitcoiners have won? You can go to a country that has more lax tax regulations but tax havens are becoming increasingly difficult.

You have to try to make Bitcoin legal tender, and to do this you have to use your Bitcoin, and you have to accept Bitcoin as payment, only by creating a large black market where you do not have to pay taxes you can bend the state, otherwise your Bitcoin will only enrich the state.

During all these years the HODL strategy has been totally wrong, while we have carried out HODL the states have encircled us.

We came here for freedom.

A lot of people have heard my moped story, but heres the math on it.

In 2016 I needed $5,000 to pay my wife’s master’s school tuition.

I didn’t have $5,000 cash at the time, but I did have bitcoin.

Bitcoin was trading at roughly $500, so I would have had to sell 10 bitcoin in order to pay the tuition.

I didn’t want to do that so I sold my car instead for $5,500.

I took $500 of that and bought a shitty moped and used the rest to pay my wife’s tuition.

So I rode the moped around the rest of the year and everyone made fun of me. Usually I play this part of the story up, but tbh it didn’t bother me. The people making fun of me were poorer than I was, they didn’t understand bitcoin or the market or even basic budgeting.

When people would make fun of me I would tell them why I was doing what I was doing. Then I would start peppering them with questions about their financial life.

“Oh so you financed your refrigerator? You’re still paying that off huh?”

“You have a timeshare you’ve never been to? How’d you get talked into that?”

People would generally go from laughing at me riding the moped to feeling shell shocked by me popping their bubble of comfortable delusion.

Still I drove the moped and everyone thought I was being weird and ridiculous and silly etc…

At 100k that decision was worth a million dollars.

At a million it will have been worth 10 million.

And at 10 million it will have been a nine figure decision.

100 million dollars.

I only rode the stupid moped for 8 months.

Ask yourself? Would you face 8 months of sacrifice and ridicule for 10 million in the future?

Because there are things you could be doing today that would generate that for future you.

My advice is to have your own moped moment.

Do something a little weird/cringe/out there in order to stack more sats and then check in on the sats in 10-15 years.

I think you’re going to be happy with the results.

YOU JUST HAVE TO ASSUME HE WANTS TO MAKE MONEY.

TRUST IS IRRELEVANT.

LMFAO WE DESERVE A MULTI YEAR BEAR MARKET

what does love mean to you?

Who are normies? What do they believe?

IMO the normie mind can be explained by the following 10 normie commandments.

1. Individual human action has low or no effect on the world.

2. Mainstream news is mostly honest and reflects reality.

3. Institutions are trustworthy

4. Thinking via convention is the only worthwhile thought pattern.

5. Comfort is the highest pursuit in life, both physical and psychological.

6. Consumption is desirable, creation is not.

7. Authority figures are legitimate and deserve respect.

8. Conventional career paths are the most valuable in our society.

9. You can’t predict what will happen next.

10. Risk is intolerable and should be treated as such.

END OF AN ERA VIBES.

NEED TO FIND THE WILL TO STOP CARING. MOST NEWCOINERS WILL BE FED TO THE WOLVES.

GM

I am a little surprised by those buying into the idea that Trump will lead a deficit-reducing administration. I expect conflict, chaos and massive falling out, with the result being business as usual.

MY TWO FAVORITES.

HORRIBLE ADVICE.

LEARN HOW TO HOLD BITCOIN SECURELY YOURSELF.

I RECOMMEND BITKEY FOR NON TECHNICAL USERS. COLDCARD FOR EVERYONE ELSE.

SELF CUSTODY IS EASIER THAN DRIVING A CAR OR RAISING A KID.

NO EXCUSES. FIGURE IT OUT OR REGRET IT LATER.

US only

I’m going to end up doing a full year without going to bitcoin conferences, by design.

I skipped Nashville, skipped MENA, skipped all the European ones. Nothing against them. Just wasn’t feeling it.

I did the Oslo Freedom Forum in June, but that’s not a bitcoin conference. The last actual one I did was Madeira in spring 2024.

Sometimes it’s good to take a break and refocus rather than phone it in and say the same things again. The things I said before are still valid, so why say them again, you know?

I’ve been traveling to visit family and friends instead.