I'm not in a 401k, etc., but if you have one, what prevents you from liquidating the entire thing when #bitcoin is at its lowest, paying a 30% tax and penalty, and just holding onto the real thing? Greed?
my wife losing my seed phrase
did this years back
forgot where i heard it from but it was something like this:
'would you rather have 50 cents of Bitcoin or $1 in the legacy system'
Some companies dont let you unless you quit your job
My sister and my ex both tried and they were told nope only loans and or quit
Woah! So they are forcing you to have that 401k damn
Same. Common restriction
BUT! I did take out a 6% interest loan against it. So it’s not totally useless
Why nobody sued govt yet for this ?! Why forcing people to hold something they don’t want or not letting them liquidate it. That’s bad
Common law probably. And it’s not a govt problem, it’s a B2B offering problem with skewed incentives. Afaik, the company I work for is strong armed into the situation. Probably get kickbacks too
If you agree in beginning of your hire date. Yes once you start in SOME company you can stop allocating but you cant cash out till you quit or retire
It gets a little boring to only hold btc. Also my bitwise etf supports developers, so that's nice.
You can support developers on your own! And no being bitcoin only isn’t boring, it’s just the way it should to be 😉
I have thought about it for sure. It’s the only thing I have not liquidated to stack more sats. I do take loans from it to buy Bitcoin, but I like having something that I know I wont touch until retirement. At least for now
Pensions are scam! this something might not buy you anything until you retire.
I did it last year. Bitcoin went up 100% and halved the tax/penalty I have to pay for it now in Bitcoin terms. I should have done it earlier but I didn't think it through soon enough.
You have to have the right timing. Liquidating at a time when the dollar value is as low as possible and the potential upside before the tax payment is due is the key.
I don’t want to give the government a single cent more in taxes by liquidating it so they can fund the military industrial complex, big banks, big Pharma, and the political parasites.
So I write it off to $0 and if it is worth anything more than that when I retire it will be icing on the cake but don’t get me wrong I have thought about it multiple times.
Not paying taxes would make sense if you would live somewhere in the offshore zone but definitely not in the USA ! Also, how can you be sure that govt wouldn’t screw up your 401k until you retire ?
You’re still supporting those industries by giving reservation demand to scam leveraged equities and (war) bonds. Unless it’s self directed and all in MSTR or a BTC ETF, but still. If it can be seized, it will be seized and used to support more war. Best case scenario, Bitcoin eats all of the monetary premium of those equities and bonds anyway, you book a -99.9% loss relative to self custodied Bitcoin.
401k's are a complete shitcoin. Change my mind.
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Just a little diversity is ok, especially if you have family.
Did that already sir in the summer of '21. Fuck the banks.
🫡
YOLOD it all in with only about 5 months of education into bitcoin. Good thing Guy swann was there to guide me through the longest bear markets that tested my conviction the highest. Never looking back. Stacked for 3 ½ years, it's just about time to start dancing. 🕺
It would not have been possible without so many passionate maxis. Can't wait for my big I told you so🤣
Serious.. best thing i ever did.
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