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> From your friend's perspective, if they sell $100K worth of bitcoin, then is it possible that they might end getting on the radar of the govt and could be on
by matt_wulfeck 9y ago
> From your friend's perspective, if they sell $100K worth of bitcoin, then is it possible that they might end getting on the radar of the govt and could be on hook for more than $100K?
You really have to be on the radar if you plan on reasonably enjoying that kind of wealth. There are plenty of legit ways of minimizing the tax burden of that kind of investment.
Calling the top and bottom is a fools game. Diversification simply helps protect an entire asset class/sector from ruining you.
- splintercell 9y agoIf you currently hold bitcoins which you mined, then they are a highly liquid assets because tomorrow you could flee the country and still have this wealth go with you. now I don't think most people think that they need to flee the country any time soon, but either way, it ISN'T the same thing as diversifying your non-crypto assets. I am merely trying to explain to whomsoever wants to know why these people won't sell their crypto even to diversification, please don't start yelling at me.