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How are taxes for Bitcoin any different? Like stocks, you’d still pay taxes on the gains from selling.

• imtringued 6y ago
  Some people are crazy enough to get a loan against their Bitcoin. Unless you bank on your ability to pay the loan anyway this is an easy way to lose all your Bitcoin if you end up unemployed during a Bitcoin crash. Some companies require 300% backing in Bitcoin for each dollar you borrow and force you to liquidate at 110%. Paying capital gains is cheap compared to losing 66% of your Bitcoin.
  • jljljl 6y ago
    Wealthy people can do this with their stocks and other assets as well. Basically a mortgage but without the FHA
  • capableweb 6y ago
    > Some people are crazy enough to get a loan against their Bitcoin It's not that people are crazy (maybe in the US, but thinking of some countries in the EU now), but that the tax advantage of taking out a loan on your Bitcoin leads to you having to pay less taxes than if you just straight out sold them. Hence people walk that route sometimes.