The Living Off of Cryptocurrency Thread (Parallel/Circular Economies outside the system)

As far as making USD loans for BTC: it's a no-brainer for the issuer, because in a margin call situation, the collateral can be immediately liquidated, with zero risk to the lender...the market is highly liquid and trades 24-7/365. Unlike any other assets, all of which are less liquid (real estate, equities,etc)
I predict BTC loans will soon have some of the lowest interest rates of all collateralized loans for this very reason - the risk is near 0, and soon the interest rate will reflect the actual risk.
 
scorpion said:
Saylor is laughing all the way to the bank running his ingenious but highly unethical scam: loading up MSTR with debt to buy Bitcoin, offering up shares of MSTR as a Bitcoin proxy and then selling his own shares for cash. He'll personally walk away from this whole thing wealthy, but he'll end up blowing up his company and all of its investors and bondholders. The reason he's so vocal and public about Bitcoin is because he's preemptively covering his own ass to protect himself when the whole thing inevitably collapses. At that point, he can look back and credibly tell a court, "Hey, look at the evidence. I wasn't scamming anyone, I was a true believer in this thing. It's unfortunate it didn't work out, but that's not my fault."
Click to expand...
The convertible bonds issued by MSTR in 2021, are now up 300%, in 3 years. I think the bondholders are happy at the moment, when the average bond yield is 5% APY...
 
scorpion said:
Taxation is not theft, since you receive value from the government in return for it (i.e. roads, bridges, sewers and other infrastructure, public safety like firefighters and police, hospitals, public education, military defense, legal system, etc...). You can certainly argue over the specifics of that value and how tax money is spent, but taxes are not morally or legally comparable to theft because there is an actual exchange provided, even if it is compulsory. You can make a much better argument that inflation is theft, however.
Click to expand...
Correction here: Federal Tax does not directly pay for roads, local police, fire stations, public property, etc. That funding come from State, County, or City Taxes depending on where you live. For those outside of the US, US taxpayers get taxed by their State and local governments on top of the Federal Government. So for example, someone living and working in New York City is getting taxed multiple times, one from federal gov, one from state gov, one from the county gov, and one from the city gov. The state and local government taxes you could make the debate for funding infrastructure because that direct pays for it, which personally I mostly have no problem paying those taxes. Federal Taxes only pay the Federal Reserve's loans to the US Federal government when the Federal Government wants to spend (on war, federal welfare, refugees, etc.). It's why the 16th Amendment was made to launch Federal Reserve in 1913. It's a scam basically.

See these videos for details on what I mean:




Again, the only way to escape this globalhomo rubbish is through alternatives like peer to peer cryptocurrency with your local economy.
 
Honestly we need to put someone crypto savvy in charge of our monetary system. Within one btc cycle could easily pay off all of the nations debts . Take out a low interest loan of about 5 trillion dollars and buy sol, eth, kas, and sell them on the run up to the bull run. Debt free within a year
 
eradicator said:
Honestly we need to put someone crypto savvy in charge of our monetary system. Within one btc cycle could easily pay off all of the nations debts . Take out a low interest loan of about 5 trillion dollars and buy sol, eth, kas, and sell them on the run up to the bull run. Debt free within a year
Click to expand...
Those markets are too tiny and too illiquid. The supposed market cap is mostly fake..
 
So use more than one coin. Buy a good amount of eth, sol, kas, btc before a bull run and dca out in increments
 
chance vought said:
I predict BTC loans will soon have some of the lowest interest rates of all collateralized loans for this very reason - the risk is near 0, and soon the interest rate will reflect the actual risk.
Click to expand...
Compared to a lot of other assets Bitcoin can have more of a tendency to gap down significantly in price during a bear market which can be a problem for the lender if they need to sell the collateral in the case of a margin call.
 
eradicator said:
Honestly we need to put someone crypto savvy in charge of our monetary system. Within one btc cycle could easily pay off all of the nations debts . Take out a low interest loan of about 5 trillion dollars and buy sol, eth, kas, and sell them on the run up to the bull run. Debt free within a year
Click to expand...
Anybody trying to buy 5 trillion dollars of crypto would send the price to the moon with their buying and then when they try to sell later they will crash the price.
 
Australia Sucks said:
Anybody trying to buy 5 trillion dollars of crypto would send the price to the moon with their buying and then when they try to sell later they will crash the price.
Click to expand...

Try to sell….sell for what? Why sell the real money for more fake money? The system is being replaced. You wouldn’t buy gold in Weimar Germany, only to sell it later for paper marks.
 
It's an argument against the strategic reserve, in reality. We don't want DC to survive. Why would we? It's the centralized point of all of the problems. We want it to die and places like Wyoming or free associations of human beings to have strategic reserves. Think about it. We have the money, we don't need DC anymore - nor do we want them.
 
This question is a little off the topic of the thread but since we discussing taxes, do the Amish in USA pay taxes? I heard they dont even have social security numbers they off the grid? Modern technology is against their religion so they obviously not into bitcoin and crypto.
 
GoodShepherd said:
This question is a little off the topic of the thread but since we discussing taxes, do the Amish in USA pay taxes? I heard they dont even have social security numbers they off the grid? Modern technology is against their religion so they obviously not into bitcoin and crypto.
Click to expand...
Great question and I don't know. I suppose as long as you deal only in cash, none of them are paying taxes. However, some operate larger businesses that do use banks. In that case they may or may not, I'm not sure. If they could operate the business as part of the church, tax free baby.
 
GoodShepherd said:
This question is a little off the topic of the thread but since we discussing taxes, do the Amish in USA pay taxes? I heard they dont even have social security numbers they off the grid? Modern technology is against their religion so they obviously not into bitcoin and crypto.
Click to expand...
If they handled cash only, I doubt it. The federal government only really knows you exist if you explicit tell them (e.g. tax reporting/filing, passport, social security, federal welfare, etc.). I remember hearing from a Tax accountant lawyer who had an Amish client who made about $400,000 in profit selling meat one year. He made an LLC and even hired someone to handle credit card payments, but that person didn't warn the Amish fellow that the credit card processing company would report tax information to the IRS nor did the Amish fellow file or paid the taxes. He couldn't even pay the IRS because he spent most of the money, so the IRS the tried to indict him. Eventually, they settled out of court for a few thousand he had to pay.
 
Last edited:
Based_Christian_Dude said:
If they handled cash only, I doubt it. The federal government only really knows you exist if you explicit tell them (e.g. tax reporting/filing, passport, social security, federal welfare, etc.). I remember hearing from a Tax accountant lawyer who had an Amish client who made about $400,000 in profit selling meat one year. He made an LLC and even hired someone to handle credit card payments, but that person didn't warn the Amish fellow that the credit card processing company would report tax information to the IRS nor did the Amish fellow file or paid the taxes. He couldn't even pay the IRS because he spent most of the money, so the IRS the tried to indict him. Eventually, they settled out of court for a few thousand he had to pay.
Click to expand...
I hear the amish dont even have a social security number?
 
Chance Vought I want to ask if you lend out your Bitcoin in the safest possible manner what is the interest rate you can earn, how long do you have to lock it up for and how safe is it really?
 
You must log in or register to reply here.
Back
Top