Bitcoin....who's gotten into it?

[bennymac]

Referring to the tax dingbat. Glad your life was great though thx for the synopsis.

You guys are the ones that keep bringing me up. You should try to remember this is the BTC thread.

[byates1]

This is the BTC thread Benny...

[MakersTeleMark]

I'm curious how governments know what your tax basis is, or even your "gains" if you use blockchain in a decentralized manner? They can't. And even if they are counting on exchanges, the ones that they are suing, they don't have any incentive to scour the blockchain and verify identity through transaction hashes. It still wouldn't work unless you as a user treat Coinbase as a Fidelity account.

[J. Barron DeJong]

Ah now the truth about their butthurt comes out

The top capital gains rate applies to households with combined income and realized capital gains of $1M+ for the year - the top 0.4 percent. And it’s bringing the capital gains rate in line with the income rate.

Regarding crypto:

“Right now, crypto investors aren’t subject to the same rules of the road that investors in stocks or other securities have to follow, allowing them to report excessive losses. For example, a crypto investor – unlike an investor in stocks or bonds – can sell a cryptocurrency at a loss, take a substantial tax loss to reduce their tax burden, and then buy back that same cryptocurrency the very next day. The Budget eliminates this tax subsidy for crypto currencies by modernizing the tax code’s anti-abuse rules to apply to crypto assets just like they apply to stocks and other securities.”

My understanding is that stale is HODLing, so he should be fine here.

(Also, it’s very unlikely this all becomes law anyway, because Biden isn’t a dictator and it’s very unlikely that these tax proposals will all get through both houses of congress. Hopefully the crypto one survives at least.)

[byates1]

lol

[byates1]

lol

[MultiVerse]

Funny. Dug the Napoleon Dynamite vibe

[J. Barron DeJong]

Fed’s are completely out of control. Literally persecuting Jesus now:

https://www.justice.gov/opa/pr/early...rged-tax-fraud

[skaredshtles]

Fed’s are completely out of control. Literally persecuting Jesus now:

https://www.justice.gov/opa/pr/early...rged-tax-fraud

Only evaded $50mil? Chicken feed...

[J. Barron DeJong]

Below $60k. More than 20% off the recent peak. At a value first reached in Feb. 2021.

To the moon!!!!

[RoooR]

If Fedreral tax receipts were 19% of GDP - as they were in the late 90’s - instead of the current 16.25%, that would mean an additional $3 trillion dollars a year in revenue; about twice the current annual deficit.

I hope your career isn't in math.
What is 2.75% * 25.44 Trillion? It's certainly not $3 Trillion.

It's $690B. So enough to pay for about 43% of the deficit.

[byates1]

He's an idiot

[J. Barron DeJong]

I hope your career isn't in math.
What is 2.75% * 25.44 Trillion? It's certainly not $3 Trillion.

It's $690B. So enough to pay for about 43% of the deficit.

My math was fine… it was misreading the source that was a problem. Data series said ‘quarterly’ which I took to mean GDP per quarter, but the series is actually updated quarterly but the data is annualized.

[J. Barron DeJong]

He's an idiot

Smart enough to figure out where any profits you earn have to come from.

[byates1]

Jong should start manufacturing tiny violins

[RoooR]

You thought the USA had a $100 Trillion economy?

[J. Barron DeJong]

You thought the USA had a $100 Trillion economy?

Though? Not thought, but I don’t have it memorized so I tried to search up the actual number. And didn’t stop to question it - hazard of posting while trying to do real work.

[byates1]

Jong is hard at work w his startup of selling tiny violins to all the crybabies and victims in the world. Genius really, as there is a seemingly unending amount ppl looking to blame anyone and anything for their choices.

[J. Barron DeJong]

Jong is hard at work w his startup of selling tiny violins to all the crybabies and victims in the world. Genius really, as there is a seemingly unending amount ppl looking to blame anyone and anything for their choices.

Funny. Seems to me that those people are the ones buying up Bitcoin.

[frorider]

The future is very exciting! https://newrepublic.com/article/1804...tate-plutocrat

[subtle plague]

The future is very exciting! https://newrepublic.com/article/1804...tate-plutocrat

Yeah.... there are more Peter thiels hanging out in tech. (I chose thiel because don't know whether elon Musk has genuinely become evil or is still trolling. But that is the point of the article i guess.... they're not trolling. They believe that. But peter thiel has been evil from the get go).

It's really interesting that they all love tech facism and believe their nerdy whimp asses would last an hour in real facism. I always wonder why the police or their tech security would not just take control in their dystopia and kick them in the balls just for fun like they did in high school?

Because they gave them banquets? Because they can Code, run the Servers and have bitcoin? LoL.

Facism never favours the Ayn Rand nerds, it favours ruthless motherfuckers who are only in check because of democracy. So if the fallout for the World wouldn't be so bad I'd really like the democracy be dismantled by some bit coin liberitarians for them to see that theyd be under the wheels half an hour later.

Those kind of tech liberitarians who hate a strong democratic state can only exist and have Power in a strong democratic state. They think themselves " the ghoul" from fallout but are rather Lucies.

[J. Barron DeJong]

Why did he choose grey shirts instead of brown?

Didn’t want to make it too obvious?

[skaredshtles]

Why did he choose grey shirts instead of brown?

Didn’t want to make it too obvious?

I laft.

[stalefish3169]

What is this? A dip for ants?

https://media.giphy.com/media/v1.Y2l...jCRa/giphy.gif

[J. Barron DeJong]

What is this? A dip for ants?

https://media.giphy.com/media/v1.Y2l...jCRa/giphy.gif

20% drop is bear sized.