I’m proposing Rhode Island’s first-ever Child Tax Credit—putting an average of $325 per child back into families’ pockets.
As costs rise nationwide, my Affordability for All agenda is all about protecting Rhode Islanders.
@agHodlryk@ZeeContrarian1 Every other asset does something else first , before being a store of value.
The claim about "typical order" is wrong.
You were supposed to be able to buy things with BTC. You can't . So it's worthless.
If you’re buying Bitcoin now, I’m genuinely curious about the thesis.
Is it the future of money? That’s what I heard five years ago, and I still can’t buy much with it.
Is it a hedge against inflation? The data suggests otherwise.
Is it a counter to dollar devaluation? That hasn’t held up.
Is it a hedge against global turmoil? We’ve seen that fail as well.
By simple deduction, there’s no clear reason to buy Bitcoin other than to speculate on price.
If you have a different thesis, I’d be happy to hear it.
@brandon_gentile Well explained 👏. From a “paid in sats” perspective, it’ll take a massive learning curve for those who are perennially fiat-brained to understand why “making the same salary” each year is actually a raise in today’s terms, and that you should expect to get paid less over time.
For sure. IMO two things can be true; we can have the trend where those who hold the most will be the new business owners and asset holders (built on a fairer system and most of those new power brokers have a much different ethos than the current crop) But then those businesses will have to pay the rest of the population in sats and thats what distributes it to the people.
I don't believe Bitcoin will help wealth inequality in the way we think of it now. We will still have wealthy and poor HOWEVER the baseline of society will be much much higher and the "poor" relatively speaking won't know they are poor. Very long story short.
People will be free at all levels to pursue passions and callings instead of being human batteries for the money printers at the top (ie. less drugs, less divorces, less sedation, less bread and circus, families coming back together, etc etc.) A more fulfilled and happy society across the board.
1 bitcoin is still the North Star.
Don’t get distracted.
Most humans will know ZERO people that own 1 bitcoin 10 years from now.
Heck probably 5 years from now, or sooner.
Just sit back and think about that...
You happen to be alive at a time where bitcoin was "cheap."
Where very few people knew about it.
Like discovering oil, or fire, or the wheel and no one knows yet.
With great power comes great responsibility.
@brandon_gentile The major question is whether distribution grows over time or becomes even more concentrated. I’d bet on the latter. Last year, there were still >1m wallets with >1 BTC, that number is now under 980k and shrinking. (Not a perfect metric but a metric nonetheless).
I will be buying Bitcoin every month for the rest of my life.
It's my quiet revolution. It's my freedom and sovereignty.
There will be millions of us like this all around the world and so it is impossible for Bitcoin to go to zero.
Keep stacking.
Ignore the noise.
The amount of Bitcoin needed to retire depends on the country you live in.
This will be the first of a set of iterated analyses where I aim to answer: what is that average BTC stack size needed to retire in 2035 by country and age?
Much of the world requires less than 1 coin.
@LarryLasermind@frankcorva The bill is talking about sales. If you barter something on fb marketplace, do you pay taxes on it? I’m just saying that if you’re exchanging it for goods, this isn’t the bill for that. It exempts you and the business from having a taxable event when turning btc into USD.
@Bitcoin2036@frankcorva We're not talking about sales here, that are happening on exchanges. We're talking about everyday spending. The "buying coffee with Lightning" scenario. You're telling me, every Bitcoin user keeps an excel sheet and then uploads it to the IRS to proof the sub 10.000 limit? 🤔
RHODE ISLAND BILL PROPOSES $10,000 IN TAX-FREE BITCOIN SPENDING PER MONTH
Introduced to the @RISenate last month, the bill states that individuals & businesses can spend/sell up to $1k in bitcoin 10 times per month w/o incurring state cap gains taxes.
bitcoinmagazine.com/news/rhode-isl…
@LarryLasermind@frankcorva The same way they’d keep track of any sales they currently make? If they’re not, they’re not currently compliant. Considering IRS rules making sure exchanges are complaint as brokers, this is a very timely bill.
@frankcorva How would the average Bitcoin user in the US keep track of this limit, given using multiple wallets, on-chain and Lightning and maybe Liquid and Monero and and and ...?
Are there tools available?
Should wallets have the functionality of keeping track of this built-in? 🤔
@Stromens@frankcorva@RISenate If the IRS is abolished, wouldn’t matter! But either way, it sends the message and sets precedence to the federal government to make inroads towards the purpose of Bitcoin as a medium of exchange and not subject to capital gains taxes.