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To be fair a few of us have been complaining about their above cash requirement on verticals for years here:sneaky: I'm familiar with the RAES opportunity but wasn't aware people were sued for it. What was they were suing you for, out of curiosity?

Yeah, none of those work the way you think they work. The problem if you haven't actually done business taxes is that you're familiar with it from friends and people you know which gives you just enough info to be dangerous. For example, a realtor can write off most of their company car costs...

Work related education expenses are a whole separate IRS topic, Topic 513 to be exact!

Yeah, so if you're a trader you can't claim business use for your car for anything more than a few miles a year, so that gets prorated to pretty much nothing. Again as a trader, it's hard to legitimately tie a business need for a trip to a vacation destination to your business, which is...

Actually a good bit harder in practice, at least here in the U.S.

As long as you can hold spot and the future at the same place where both are calculated in margin (as is the case on some of the deregulated exchanges), a tail move in BTC price wouldn't cause a margin mismatch. Just somewhere like CME in the current environment where you can't hold BTC in...

At this point you're just being an asshole. Which is a shame, because although I think you're a smart guy and have interesting points to make, I have a pretty strict no asshole rule, life's just too short. And after a couple pages it's clear you're bound and determined to turn this into some...

I not only considered the viewpoints I agreed with them! There isn't a significant counterparty risk issue on CME, that's the foundation of what I've been saying since the beginning of the discussion. And as you agreed 2 posts ago, we're talking about CME at this point. So of course I would...

OK. I'm afraid at this point you're so focused on "winning" this discussion that you're not actually tracking the points being made. From the beginning of this conversation I've advocated that the returns from what appears to be an "arb" opportunity is simply a reflection of the risk involved in...

Pretty sure we're talking about the CME BTC futures here.

I'm sorry, I thought you were one of those conservatives who wants to stop at least the immigration of any brown skinned folks. I'm glad to hear you're fully in favor of dramatically expanding the H1B visa program to let any educated and hard working folks from other countries come here who want...

OK, that sounds like a good explanation of why it would tend to try to move in a direction, but that's not what we're talking about here. What we're talking about is the explanation for why any deviation in either direction isn't arb'd away in seconds? The risk free rate on short term treasuries...

So I went back and read all your posts here carefully. Perhaps I am dense but I'm not seeing an explanation for why you think BTC futures are persistently trading with an upward slope given there is no carrying cost to Bitcoin? Best I can tell is that you think it's only there because those with...

That's an interesting argument, although I feel like there are plenty of direct personal property taxes are already in place without proportionality. For example I imported a used boat I purchased outside the U.S. and paid the same tax based entirely on the value of the property (the boat) in FL...

Settle down, only one person is melting down here and it's not me. There's currently no risk free way way to arb the CME contract. If there was a broker who allowed you to hold BTC in your account (none that I know of that also allow CME trading?) or if there was a bitcoin ETF that traded on a...

I very clearly articulated a clear explanation several times. Unlike you, I'm humble enough to realize I might be wrong, but brave enough to at least put a defensible theory out there. You are so busy fighting about how many angels fit on the head of a pin (it was only 21 hacked exchanges, not...

Again, "in language you might understand" isn't helpful to the conversation or up to your standards of civility. There's not doubt that some crypto exchanges are less risky than others. It's also silly to maintain that any of them have the same low risk level as CME, let alone that you or I are...

1. It's important to split the risk and function of the deregulated exchanges. If Kraken and Bitstamp get hacked and you have funds there that are lost, it's a big financial impact to you. If you trade CME futures that use Kraken as one of a basket of places they use only to set the index value...

Partial list of Bitcoin "exchanges" hacked/shut down/turned out to be frauds in just the last 3 years! Altsbit Upbit VinDAX Bitpoint Bitrue GateHub Binance DragonEx Bithumb CoinBene CoinBin Coinmama Cryptopia QuadrigaCX MapleChange Zaif Coinrail Bitcoin Gold Taylor CoinSecure Bitgrail Coincheck...

The delta between the cash and futures of SPX is the risk free rate adjusted for dividends. The ftx exchange that offers futures that you're using isn't regulated in the U.S. (or open to U.S. customers), although ftx does have a U.S. exchange to just exchange BTC into USD or other currencies...