Proof of Sheila

GMGM fellow crypto traveller, I am Proof of Sheila, comic artist and crypto commentator. Please stay and look around. You can view my full list of comics and my evolution as an (extremely bad) artist on my subreddit: reddit.com/r/ProofofSheil…

@BTC_JEDI21 BTC gets me all the dopamine I need thanks

Why is there not a single Bitcoiner who is into gambling?

The Australian government just put forward sweeping changes to the capital gains tax system. They pitched it under the guise of helping young people access afforable housing. I ran the numbers, and undeniably, the policy harms, not helps young Aussies. newsletter.checkonchain.com/p/when-the-gov…

@_Checkmatey_ Well written, very thorough. Thanks so much!

@SophieSatoshi Fearful suspicion of new things is one of the most powerful forces of human nature

Whenever I mention Bitcoin, people act like it’s dangerous. Yet the price of a their weekly food shop is escalating at a fair rate of knots. THAT’S the volatility I’m worried about!

@BitcoinAnja @knutsvanholm @HardBlockBTC Girlie are you in Spotify

People often ask me which episode is my favourite. Hard to pick, but this one’s definitely up there. A brilliant mix of Bitcoin history, sound money, and libertarian ideas with @knutsvanholm 😊 🎧 Sponsor: @HardBlockBTC 📺 YouTube: youtu.be/2FhPk4oAGqg 🎙 Fountain: fountain.fm/episode/BrPkkm… #Bitcoin #SoundMoney #Liberty

The crypto market structure bill has PASSED the Senate Banking Committee with a bi-partisan vote! Historic day for crypto and for the future of digital assets in America. Grateful for the countless hours from lawmakers and staff to strengthen this legislation. Big improvement from where we were in January on rewards, tokenization, DeFi, and CFTC authority. I'm proud we stood up for our customers in that moment, and the bill is better because of it. Looking forward to a bipartisan law that cements the US as the world's crypto capital. Let's get CLARITY done.

Negative gearing was a genuine distortion in the market and it had to go. I thought that they should limit negative gearing to 2-3 investment properties but that is probably hard to enforce. The capital gains tax increase is infuriating and unfair.

@nicpud1 @Ben01Den @ausbtcclub I’ve been meaning to do a writeup on Substack on this topic … but first I need to pay a hobo to scan their face for access 😭

@Ben01Den @ProofofSheila @ausbtcclub Yep they control what that official rate is….very different to reality

Current System (50% CGT Discount) Step 1: Apply CGT discount Capital gain: $100,000 50% discount: $50,000 taxable Step 2: Total taxable income Salary: $100,000 Taxable capital gain: $50,000 Total taxable income = $150,000 Approx tax payable Tax on $150,000 ≈ $40,567 Tax without the capital gain Tax on $100,000 salary ≈ $22,788 Effective tax caused by the gain $40,567 − $22,788 = $17,779 So under the current system: Tax on the $100k gain ≈ $17.8k Effective CGT rate ≈ 17.8% Proposed New System (30% minimum CGT with no 50% discount, plus indexation) For this example, assume inflation indexation = $0 adjustment. Step 1: No discount Entire gain taxable = $100,000 Step 2: Total taxable income Salary: $100,000 Capital gain: $100,000 Total taxable income = $200,000 Approx tax payable Tax on $200,000 ≈ $60,667 Additional tax caused by the gain $60,667 − $22,788 = $37,879 So under the proposed system: Tax on the $100k gain ≈ $37.9k Effective CGT rate ≈ 37.9% The government is taking in an additional $18,975 in tax for every $100,000 capital gain sale. That's 18.97%!!!!!!!

@JM_speakss Tattooed on your butt

My 36 year old best friend told me I’m dumb for storing my seed phrase on paper. He said I should be memorizing it. I told him that paper is still undefeated because your brain is one bad concussion, stressful year, or 3 glasses of wine away from nuking your entire net worth. What’s the best way to store your seed phrase?

@0xGrmpySchnauzr @ausbtcclub Yeah the inflation projections in the Budget are optimistic at best, it will take longer for the inflationary forces to work their way out of the system

@ProofofSheila @ausbtcclub Interestingly enough, they project this years inflation to be 5% and then 2.5% the next 3 years. Coincidence? They will doctor the figures to grab more from CGT

@SophieSatoshi I actually have a comic in progress with this energy

I first got into Bitcoin in my late 20s. The main reason: The realisation as a young(ish) woman, that no white knight was coming to save me. I wanted to build wealth and get off the hamster wheel without having to rely on anyone. Still on that long road to a wholecoiner though.

Bitcoin is NOT for everyone. The maximalist dream where your grandma is buying groceries on Lightning is completely flawed. Bitcoin is for people who _need_ it. It is for people escaping collapsing regimes and censorship. If you live comfortably in the West and trust your banks you probably don't need it right now. Which is fine. We don't need to orange pill the entire planet.

@BitcoinSapiens Genesis block

If you know what this is, I want to follow you

@Bitcoin_Teddy That looks like an Age of Empires map

The older I get, the more I understand this man

@FringeBtc Not sure if it matters, but on Fridays BTC tends to go down a lot

What is the best DCA frequency?

I have this problem when drawing on the iPad where my entire triceps sets itself on fire. Any good art stylus/drawing pad recommendations?

@createdbyjami Same energy

Bitcoiners who understand it at a fundamental level know you can’t be 1 foot in and 1 foot out. You’re either in it because you’re done with the fiat system, or you’re in it because you want more fiat from the system.

@greenytrades This is the primary tension, I think

I’m so bullish on blockchain and crypto infrastructure but I struggle to understand how we can capture upside to that move with actual tokens?

*ahem* Testing, testing, calling all Aussies! I hope you like Aussie themed, janky ass crypto satire!