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/biz/ - Business & Finance

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23500288 No.23500288 [Reply] [Original]

>Ever paying taxes on your crypto.

Are you guys retarded? Just do this.

>Bitcoin goes to 100k+
>Holy shit I want to go on a holiday or buy some cool shit.
>Do you /a/ sell your bitcoin like a retard and pay taxes to the jewish bankers.
>Or do you do what a SMART person would do and take out a loan with the bitcoin you were going to sell as colleterial over a period of say 5 years.
>You pay no taxes on this loan and you get to hold your bitcoin longer which means the gains from your bitcoin cancel out the interest on the loan.

It's the same shit they do in real estate that allows them to never pay taxes because they are always in enough debt to cancel out their supposed gains. Just do the same thing with your Crypto.

>> No.23500330

do people actually accept bitcoin as collateral though. they have no way to collect unless you're giving them private keys.

>> No.23500353

>>23500330
I Imagen it been some super sketchy loan shark who sends his friends to your Minecraft server to collect.

>> No.23500363

>>23500330
bitcoin not really, but wbtc you can get loans out for, also if you use bitgo or something as a service to hold your BTC. Not really useful for a normie, but for paypal or something it is useful.

>> No.23500373

>>23500288
If u really had a good amount, like 1mil+ where it'd be really worth it to avoid taxes. Can't u just open up a half-ass business that accepts crypto and funnel it through that?

>> No.23500421
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23500421

>>23500330
>>23500353

I don't know how they will do it yet however I am sure you will be able to both use your bitcoin as colleterial on loans and be able to loan your bitcoin out for interest in the medium term.

Imagine you have 10 bitcoin leant out for 10 years at 5% interest. depending on the price of bitcoin that is more then enough to not have to work again.

At a million dollars 10 bitcoin leant out at 5% per annum is $500000 USD worth of bitcoin. However during this time your bitcoin is also appreciating in price against fiats so not only will you be able to live off the interest your lent out bitcoin produces you will also at the end of the day have a bitcoin that is worth more then when you lent it out.

Selling Bitcoin for capital gains is pure stupidity

>> No.23500436

>>23500373
That's tax fraud and in the future with central bank digital coins becoming the predominant currency it will be easily tracked what you did. So it's not really a realistic proposition.

>> No.23500454

>>23500288
Who the fuck is going to give you a loan with bitcoin as collateral genius?

>> No.23500458

>>23500373
You end up paying more in taxes.

>> No.23500469

>>23500454
Lurk more newfag

>> No.23500484
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23500484

>>23500454
Institution adoption of bitcoin is only a few decades away friend.

Bitcoin is the ultimate hard money so it will soon be seen as the best possible collateral for a loan. The loans obligations can be made unbreakable through the use of smart contracts. It might even be a completely decentralized system where the free market decides the interest rate for loaned out bitcoin