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Owning assets and getting loans against them rather than selling them is considered tax reduction, not evasion, and is a very common accounting pattern.

by nailer 8mo ago

Bender 8mo ago
I am aware of this process. That does not require crypto and I am not interested in it either way, crypto or otherwise. Most certainly never investing in crypto. I am however waiting on Full-scale QE for other reasons that also do not apply to crypto but I doubt the fed chair has an HN account.
- nailer 8mo ago
  Ok, I only responded because you mentioned you thought that it was illegal tax evasion earlier. The is much easier with crypto - I can walk into a shop and use Apple Pay to instantly get a loan against my assets. It’s vastly more convenient than otherwise. As is getting more interest on your savings, with insurance. Buying anything for less than $.30 (and in reality much more because people need to make a profit) only works with crypto right now as far as I know. This is huge not just for individuals that purchase small items of content but also for agents making calls for each other. I think your concerns the governments may have backdoors in projects are reasonable. Blockchains and decentralised exchanges are open source and there is a culture of auditing prior to releasing, however (like Dual EC DRBG years ago) government can do attempt to subvert public systems. It is generally harder to subvert something with public code and a verifiable build though. > Most certainly never investing in crypto. Good. Crypto itself is a wrapper, that makes things instantly tradable globally 24/7. It could be a wrapper for government bonds, it can be a wrapper for Nvidia stock, it could be a wrapper for real estate, it could be a native token used to pay fees on on a blockchain, or as mentioned it could be a wrapper for garbage. The people telling you to “invest in crypto” are often talking about the latter and generally also have no idea how blockchain works beyond scamming the next person. They don’t build anything and they should be ignored.
  - myvoiceismypass 8mo ago
    Where are you getting this 30 cent things can only be bought with crypto?
    - nailer 8mo ago
      There’s a whole section covering this in the video, here’s a direct link: https://www.youtube.com/watch?v=LhGrk8dp91M&t=334s https://www.youtube.com/watch?v=LhGrk8dp91M&t=334s

Owning assets and getting loans against them rather than selling them is considered tax reduction, not evasion, and is a very common accounting pattern.

by nailer 8mo ago

Owning assets and getting loans against them rather than selling them is considered tax reduction, not evasion, and is a very common accounting pattern.

Bender 8mo ago

I am aware of this process. That does not require crypto and I am not interested in it either way, crypto or otherwise. Most certainly never investing in crypto. I am however waiting on Full-scale QE for other reasons that also do not apply to crypto but I doubt the fed chair has an HN account.

nailer 8mo ago
Ok, I only responded because you mentioned you thought that it was illegal tax evasion earlier. The is much easier with crypto - I can walk into a shop and use Apple Pay to instantly get a loan against my assets. It’s vastly more convenient than otherwise. As is getting more interest on your savings, with insurance. Buying anything for less than $.30 (and in reality much more because people need to make a profit) only works with crypto right now as far as I know. This is huge not just for individuals that purchase small items of content but also for agents making calls for each other. I think your concerns the governments may have backdoors in projects are reasonable. Blockchains and decentralised exchanges are open source and there is a culture of auditing prior to releasing, however (like Dual EC DRBG years ago) government can do attempt to subvert public systems. It is generally harder to subvert something with public code and a verifiable build though. > Most certainly never investing in crypto. Good. Crypto itself is a wrapper, that makes things instantly tradable globally 24/7. It could be a wrapper for government bonds, it can be a wrapper for Nvidia stock, it could be a wrapper for real estate, it could be a native token used to pay fees on on a blockchain, or as mentioned it could be a wrapper for garbage. The people telling you to “invest in crypto” are often talking about the latter and generally also have no idea how blockchain works beyond scamming the next person. They don’t build anything and they should be ignored.
- myvoiceismypass 8mo ago
  Where are you getting this 30 cent things can only be bought with crypto?
  - nailer 8mo ago
    There’s a whole section covering this in the video, here’s a direct link: https://www.youtube.com/watch?v=LhGrk8dp91M&t=334s https://www.youtube.com/watch?v=LhGrk8dp91M&t=334s