So this Bitcoin ETF is going to make supper of real Bitcoin very hard in many places. In Slovakia for example they have 40% income tax on "virtual assets" (they still use these statespeak words), but it's 0% for ETFs after holding for one year.
And these bitcoiners are always crazy libertarians with guns, they only eat meat and they want you to buy hardware wallets, pay transaction fees to some miners, use addresses and engrave some words into metal plates that they test for apocalypse readiness.
Why not capitalize on the fact that this culture is growing, by few clicks in their brokerage account web interface, tax free?
Especially if these people believe that state is here to provide "services", and is not fundamentally bad or immoral?
I believe Bitcoin provides protection against: monetary inflation, confiscation of property, excessive taxation, capital controls and surveillance. ETF only covers the monetary inflation aspect. But what if you don't need the others?
I used to say that you are getting worse product for the same price. But now due to difference in taxation, the ETF Bitcoin is cheaper if you are a normies, you sell and pay taxes (my strategy is not to sell but to short fiat, which is also tax free and you make money on the short as well - I teach it in Crytocurrencies: Hack your way to a better life and course on harnessing the value of Bitcoin without having to sell it: both are in my eshop).
So what would you tell these people? Should they buy the ETF instead of real Bitcoin? And why not?
Juraj
npub1m2…lr8p9
2024-01-12 08:11:52
Author Public Key
npub1m2mvvpjugwdehtaskrcl7ksvdqnnhnjur9v6g9v266nss504q7mqvlr8p9Published at
2024-01-12 08:11:52Event JSON
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"content": "So this Bitcoin ETF is going to make supper of real Bitcoin very hard in many places. In Slovakia for example they have 40% income tax on \"virtual assets\" (they still use these statespeak words), but it's 0% for ETFs after holding for one year.\n\nAnd these bitcoiners are always crazy libertarians with guns, they only eat meat and they want you to buy hardware wallets, pay transaction fees to some miners, use addresses and engrave some words into metal plates that they test for apocalypse readiness.\n\nWhy not capitalize on the fact that this culture is growing, by few clicks in their brokerage account web interface, tax free?\n\nEspecially if these people believe that state is here to provide \"services\", and is not fundamentally bad or immoral? \n\nI believe Bitcoin provides protection against: monetary inflation, confiscation of property, excessive taxation, capital controls and surveillance. ETF only covers the monetary inflation aspect. But what if you don't need the others?\n\nI used to say that you are getting worse product for the same price. But now due to difference in taxation, the ETF Bitcoin is cheaper if you are a normies, you sell and pay taxes (my strategy is not to sell but to short fiat, which is also tax free and you make money on the short as well - I teach it in Crytocurrencies: Hack your way to a better life and course on harnessing the value of Bitcoin without having to sell it: both are in my eshop).\n\nSo what would you tell these people? Should they buy the ETF instead of real Bitcoin? And why not?",
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