Oddbean new post about | logout
▲ ▼
SHSS | 2 days ago (raw) | root | parent | reply | flag 
 There are tax liabilities when using or selling bitcoin.
▲ ▼
bitbybit | 2 days ago (raw) | root | parent | reply | flag +1 
 Why would you ever sell bitcoin?
▲ ▼
SHSS | 2 days ago (raw) | root | parent | reply | flag +2 
 To acquire goods and services. The purpose of money
▲ ▼
rand0mguest2 | 2 days ago (raw) | root | parent | reply | flag 
 Nooo bro nooo you should burn your keys
▲ ▼
bitbybit | 2 days ago (raw) | root | parent | reply | flag +1 
 Why would I trade it for goods and services when I just use fiat for that?

The point is the wave of money going into MSTR or bitcoin ETFs is money that can never exit the system.  It's permanently stuck and will never exit; it evaporates.  Like all other hyperinflation in the past.
▲ ▼
SHSS | 2 days ago (raw) | root | parent | reply | flag 
 That’s you. Other people are all in and need to sell when merchants don’t accept Bitcoin. 

That’s not true. Anyone can sell shares of MSTR or IBIT and buy Bitcoin with the proceeds. It’s likely ETFs will allow for in-kind redemption in the future. 

Stop listening to the orange pillers; you’ll thank me later.
▲ ▼
bitbybit | 2 days ago (raw) | root | parent | reply | flag 
 In kind redemptions are possible but I'd rather not count on blackrock to do that for me.  I am an original orange piller dude lol.  You still do not understand the difference between brokerage accounts and retirement accounts.  The money in retirement accounts is permanently stuck, it will never get ported over.  At best everyone holding the S&P will get some exposure when the companies buy some corn.
▲ ▼
SHSS | 2 days ago (raw) | root | parent | reply | flag 
 Again with the orange piller takes. 

I already told you one can take possession of retirement account funds by sending it to Unchained and buying bitcoin. You can also do it by sending it to Choice by Kingdom Trust and taking self custody through Casa. You can keep repeating these things, but they won’t magically come true. There are millions of retired people right now that can take tax free distributions from Roth IRAs and 401ks and buy bitcoin with it.