Happy New Year to ET from a new Bitcoin millionaire!
- Thread starter johnarb
- Start date
Half belongs to wife, of course
Ah, the 50% tax!!!
You know if I had large crypto profits I would be tempted to try to cheat the taxman. If nothing else maybe traveling and spending some of it instead of declaring it. After all crypto spent in let's say Europe shouldn't have traces, right? Oh yeah, I forgot about that public ledger thingy...
Public ledger can be defeated with dex trades to other blockchain, especially the most private which you're familiar with.
As much as I'm not a fan, Fincen rule coming up on Monday is quite clever may end all that, or could trip up some cryptos folks not careful and all. Removal of plausible deniability is what they're going after once you acknowledge ownership of one address it's very difficult not to make a mistake and interact with your other holdings (think multiple inputs and change addresses being spent when transferring). Even worse for Eth and Erc tokens
Anyway, with institutional investors and the money coming in bring in all these regulations. Can't have both wild west and those funds for bitcoin moon price. Vaneck is trying again for bitcoin etf, so I think confident of getting it approved this time due to all the big players lately in the bitcoin space.
or can't have our cake and eat it, too.
Great result ! Congratulations !
Thank you very much, Michal, ElCubano, and Sprout! I'm not leaving cryptos so everything's still on the line, practically, but gonna cash out a portion. This bull market feels like it's still got plenty of legs. Bitcoin shortages on the exchanges from various reports.
Congrats on the win, you should rotate that into LTC since it is way under valued. LTC should be at 8,000 based on the economics.
