Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
I think that you don't get the idea: instead of selling bitcoin and PAYING up to 50% in taxes, you get cash that you need now. Then, for example 3 years later (of course you borrow somewhere close to the peak price) when bitcoin is at ATH, you can use a FRACTION of bitcoin that you borrowed against to close your loan. Taking a loan would be having the necessary chunk of cash now, but effectively selling bitcoin at a price of 3 years LATER.
Point granted.
But I want to be my own bank.
At LTV of 25% the interest is 1%. You can't get a loan like this when you buy a house, at least in US.
I don’t want a loan, thank you very much. My keys - my BTC.
I am not planning to either sell or take a loan at the moment, but this "method" surely beats selling and paying a HUGE amounts of tax.
All rich do this.
All rich do this.
Sorry, I’m not “all rich”, I’m the new kind of rich.
How do you think Musk had billions to invest in Space X (he borrowed heavily against Tesla stock to the tune of billions)?
By shilling for shitcoins?
Musk is a verified attack vector on BTC.
TL;DR Want to pay lotta tax, sell; don't want to pay tax (lawfully), take a loan.
You don’t have to, if you don’t want to. Lawfully, in another country. Oh Pandora!
EDIT: you can also use a part of the loan to reinvest in bitcoin options, if you are super bullish or bearish and leverage your position.
I guess you missed my haiku.
When most BTC is owned by banks or custody's - giving in return whatever - it will have the same fate as gold. Heavily suppressed.
Let’s not do that, shall we?
BTC stands for power to the people.