$90K Bitcoin is cool. But you know what’s cooler? Ending capital gains taxes on Bitcoin.
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@mikegermano Some people have 100% of their net worth in ₿itcoin and have to spend (sell) it. :)
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@alakahakaiUSA Look at how gold ETFs are taxed and how gold is taxed. That will give you a possible scenario. 👀
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@NeilJacobs No capital gain tax on Bitcoin is Cool. But what about tax credit on the devaluation of dollar holdings?
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@NeilJacobs Why would Bitcoin not have capital gain when all other equities do? The government currently defines it as an equity in tax code. You really think they’re gonna change that?
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@NeilJacobs If you have significant gains and want to avoid paying capital gains taxes, consider donating your crypto! It’s a great way to do some good and save more on your tax bill.
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@NeilJacobs My hope for Trump: - Strategic Bitcoin Reserve as promised - Stop selling seized eCrime Bitcoin - Full national self custody protection - Bitcoin as legal tender (no tax) - No cap gains tax on Bitcoin If he executes this, Bitcoin goes parabolic to a stratosphere we never saw
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@NeilJacobs It would be really cool if we had $90K Bitcoin for more than ten seconds. I know it will happen, but geez.
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@NeilJacobs My proposal is to end taxes on transactions settled in Bitcoin. If you buy something and pay in Bitcoin, regardless of amount, it's tax free. Gains on Bitcoin ETFs or exchanging Bitcoin for fiat is taxable. This will spur increased adoption, transactional growth, and profits for
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@NeilJacobs Let's start by making it legal tender where workers can choose how they want to be compensated for their time and energy.
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@NeilJacobs — ot at the very least, when it’s consumed as bitcoin, there is no CGT but of its converted to cash holdings, some form of tax should apply
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@NeilJacobs Ending capital gains taxes on Bitcoin is cool. But you know what's cooler? Ending capital gains taxes on all cryptocurrencies.
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@NeilJacobs Definitely not, I much rather have an asset that increases in value and pay capital gains, than to have zero capital gains and an asset that doesn’t go anywhere.
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