rawtxapp

64 ms·

271.
by rawtxapp 5y ago
Not sure I understand what you mean, you only have 1 730k which you've borrowed. Interest rates are a drop in the bucket (~4%) compared to ~25-40% tax rates and that's ignoring asset appreciation (BTC averages ~300% YoY). If you u
272.
by rawtxapp 5y ago
Out of curiosity, what's your recommendation on how to differentiate a very competent tax lawyer from one that's merely good? Also, what's wrong with "crypto lawyer" people?
273.
by rawtxapp 5y ago
Notice that borrowing != trading on margin, you can certainly buy back into the asset, but you can also do lots of other things with the money. You can be careful with your borrowing, like the example I gave, in that case, Bitcoin would nee
274.
by rawtxapp 5y ago
If you made 1000+% holding on to crypto (and not selling at any earlier point in time), you're presumably a crypto bull, right? It eliminates your exposure at the cost of ~25-35% (depending on where you live and potentially up to ~45%
275.
by rawtxapp 5y ago
Unfortunately, it's even worse on some exchanges that offer up to 125x leverage to people who might not even understand what they're doing properly. That's why you see flash crashes every once in a while, couple weeks back th
276.
by rawtxapp 5y ago
Well if you use something like maker, you can keep the loan open for pretty much forever and not pay a single dime of interest as long as you don't want your collateral back and make sure to not get liquidated. Ideally, you borrow a li
277.
by rawtxapp 5y ago
Yes, you have to be carefully not to get margin-called, from what I've seen most people that have over 10M+$, tend to borrow up to 25-30% of their collateral's value (for example[1], this person borrowed 82M$ using 228M$ worth of
278.
by rawtxapp 5y ago
The 730k is already in bank account, you'd only lose the collateral in case of liquidation, but that doesn't matter because your alternative was to sell it altogether.
279.
by rawtxapp 5y ago
Yes, so ideally, you wouldn't borrow so much to be margin called, it's over-collaterized, so you'll always have enough to service the debt.
280.
by rawtxapp 5y ago
Sure, but you can borrow 730k and still hold on to the asset, why not do it?
281.
by rawtxapp 5y ago
It'll get liquidated if it drops by say 30%, but that's what you would have paid in taxes anyways. You get the same amount of cash either way.
282.
by rawtxapp 5y ago
To your bank? Presumably if you made a lot of money, you'll be buying some houses and maybe some cars or creating your own businesses or something. If you transfer large amounts, it might get frozen if you can't explain the origin
283.
by rawtxapp 5y ago
I wish they had kept the like-kind treatment for crypto-to-crypto exchanges. Or that they had given very clear guidelines and rules on crypto taxation. Or that they had lowered crypto tax rates a little because it's highly risky anyway
284.
by rawtxapp 5y ago
I mean, you can already use decentralized exchanges where you won't even have to give your name. I think for most people that are not doing anything illegal, there's no point in trying to evade taxes. The way I look at it, you eit
285.
by rawtxapp 5y ago
They are starting to lose money, it's 5M$ today, who knows what it'll be tomorrow or how often it's going to happen.
286.
by rawtxapp 5y ago
So they'll be out of business sooner or later then and a company that follows security best practices will take over ideally.
287.
by rawtxapp 5y ago
I'm willing to bet that Bitcoin mining will be 100% renewable (compared to 40-70% depending on whose numbers you look at today) before ICE vehicles are all gone. I'm basing this on the fact that miners are incentivized to always s
288.
by rawtxapp 5y ago
Just put a carbon tax on everything with environmental side effects and let the market sort it out, otherwise who decides what get's banned? For example, I think cars contribute very significantly to global warming and use lots of foss
289.
by rawtxapp 5y ago
In addition to miners, running actual Bitcoin nodes keeps the network safe, that's why it's very important for it to be very cheap to run so that many people/volunteers can do it.
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by rawtxapp 5y ago
Yep, if you listen to the whole exchange and read through the lines, he's essentially saying to US leadership either we innovate and build with this or we let our main competitor take over.
291.
by rawtxapp 5y ago
More likely than not, your current stock has appreciated significantly (at least at FAANG), so you would be leaving all the paper gains on the table. And it's not guaranteed that you're getting vesting stock at the next company.
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by rawtxapp 5y ago
Peter Thiel is full pro-Bitcoin.
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by rawtxapp 5y ago
It's called leverage, unfortunately too many exchanges offer way too high leverage to people who might not fully understand what they are doing.
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by rawtxapp 5y ago
It's one thing for it to be live, it's another thing for it to be stress tested in actual production/real world with people's actual money. I have a vested interest in hoping it lands successfully, but being a software e
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by rawtxapp 5y ago
Yep, there were some big movements on the blockchain and the exchanges prior to the public tweet.
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by rawtxapp 5y ago
Those are estimated/annualized upper bounds.
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by rawtxapp 5y ago
Lack of labor should accelerate automation.
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by rawtxapp 5y ago
Endless money printing distorts value in weird ways in my opinion. But I think what you're seeing is lots of fomo and people who had savings because they were forced to save (couldn't spend it), they should be back to their jobs w
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by rawtxapp 5y ago
There's a whole "loss prn" subset on wsb and some crypto subreddits where people proudly show their losses, the bigger the better. And lots of suicidal kind of messages when the whole market crashes. So I'd say losses ar
300.
by rawtxapp 5y ago
Transaction fees on Bitcoin are ~2-4sat/byte (around ~1$ for most common transactions), I've been able to consolidate a lot of change outputs. Ether fees on the other hand are through the roof because of all the meme coins, it&#x2

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