The Bitcoin (BTC) thread

Cervantes

Woodpecker
Btc was back down to 47k last night, above 50k now(at least right now, it’s still moving higher and lower as always)

I’m curious, I only own a small amount of btc, a few thousand, just buy $1000 or so when I see it dip, I’m not trying to buy and sell, but do most of you try to sell the peaks and buy the dips? If you already have a good amount of btc I can totally understand that.

A lot of you towards thinkers bought hundreds or thousands of Bitcoin a decade ago, and can totally make money selling and rebuying for less
My strategy is to buy on the dips and hodl. If you sell you get taxed on the gains. I'm going to hold and if I need to access the value of the gains I'm going to take loans out against my crypto holdings.
 

berenmsc

Pigeon
To increase the amount of crypto i own, sell at 100k+, then during the bear market buy back at a cheaper price.
Fair enough - that's assuming there will be another bear market like 2017, where we see a 60-80% value drop, which I find unlikely with all the money printing, institutional buying and not to forget the circa 3m lost coins.
 

Deepdiver

Crow
Gold Member
When Panic selling sets in it is best to revert to Mathematics as there is no chaos in the universe only cycles moving out of balance and back to balance a.k.a Deep Zen.

As previously calculated up thread after we test the BTC 50 DMA (Yellow), we would likely test the Orange 100 DMA then a .618 leg retrace back to the 50 DMA before the last C leg correction to the 200 DMA in the .618 of the full YTD large 5 Wave which turned at the stong 65K Psychological level with targets in the 30K (.618 retrace) to 35K (0.5 retrace) remembering our current ATR is in the range of 3K to 5K PER DAY.

Additional confirmation of the A Leg is it broke the 50DMA on a strong move down to the 100 Orange DMA which is also a full 25% additional trend channel deviation below the Wave 2-3-4 Trend Channel Pitchfork.

Fibonacci Rules: Follow the ABC Correction A to the 100DMA as previously projected - a retrace back to the 50DMA on the lower Trend Channel Line intersect approx .618 of the A leg then a longer impulsive C Leg down to the .618 retrace of the full YTD 5 Wave in a BTC ATR range to the Wave 2 Swing Low strong support within the 30K to 35K strong psychological levels range:

1619194754816.png

And since the 50% Dominant BTC is the Tide that floats all the Alts higher and lower Fibonacci Rules on Monero as well which had a spectacular 12X Run to $427 since the March 20 Covid Correction lows with now an ABC correction to the range of $200.00 and 200DMA level at the .618 Monero Retrace of $175:

1619195255481.png
 
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Coja Petrus Uscan

Hummingbird
Gold Member
I’m curious, I only own a small amount of btc, a few thousand, just buy $1000 or so when I see it dip, I’m not trying to buy and sell, but do most of you try to sell the peaks and buy the dips?

I think everyone here is either shooting to sell at the top (say Dec 2021) and buy back at a low (say Jan 2023 @ ~$30K).

Why would you sell for fiat? Which is depreciating at minimum 15% a year due to rampant inflation. HODL for next 5 years at least lol until the next halving.

Good question as to what would be good to hold in the decline, but I think crypto shorts will do well.

Fair enough - that's assuming there will be another bear market like 2017, where we see a 60-80% value drop, which I find unlikely with all the money printing, institutional buying and not to forget the circa 3m lost coins.

People paying millions of dollars for JPGs, XXXX% yields on flipping tokens and getting XXX% reward tokens that have no value other than getting more and having the price bought up, people changing their Twitter profiles to have laser eyes, a meme coin worth tens of billions, Filecoin has petabytes of storage with only a small fraction used, Justin Sun shilling celebs to pump his ego tokens, Bitcoin Cash still in the top 20, ARRR up 5,000% this month, Bitcoin fees up to $50 per TX at 5 TPS, $100s to deal with ETH DeFi, most coins held by people who don't understand economics but do understand prices going up...

Crypto will have another year as the worst performing asset. Crypto comes back to as baseline, which is true believers and there aren't that many. Just look at the weak hands now.

But not seeing anywhere near the signs of this being near the top.

Addresses still not at 2017 peak: https://studio.glassnode.com/metrics?a=BTC&m=addresses.ActiveCount
Same with interest: https://trends.google.com/trends/explore?date=today 3-m&q=bitcoin

 

eradicator

Peacock
Gold Member
Also you're going to be hit with a 20% cap gains tax so you'll have circa $80k. Better to just HODL and watch appreciate instead of trying to swing trade
If you’ve been hodling for over a year it should be 15% on any long term gains (but no tax on your principle ).

Another question, have any of you set up an offshore llc to buy Bitcoin for your Roth IRA? There is zero capital cains taxes or other taxes when you withdraw from the Roth IRA after age 59, you pay zero taxes on it if you set it up this way
 

Coja Petrus Uscan

Hummingbird
Gold Member
If you’ve been hodling for over a year it should be 15% on any long term gains (but no tax on your principle ).

Another question, have any of you set up an offshore llc to buy Bitcoin for your Roth IRA? There is zero capital cains taxes or other taxes when you withdraw from the Roth IRA after age 59, you pay zero taxes on it if you set it up this way

As someone who formerly had an offshore corporation I would recommend never doing so. The risk of loosing all your money is very high. The Feds and OECD have made it too risky for banks to offer accounts to pieces of paper in the Caribbean. If you can get a bank it will be be one that will be a high risk of bankruptcy or losing their correspondent banks, in a country like Belize or Tanzania. And it's not likely any of those banks will allow you to touch BTC.

You might be able to do something with Nevada or Delaware LLCs.

If I was a US citizen I would consider I had three options:
1) renounce citizenship
2) pay all my taxes
3) move to Puerto Rico or one of your other dominions
 

Blade Runner

Pelican
George Gammon recently reported a 24 hour stay in Puerto Rico (where he was going to try to interview Peter Schiff at his condo or house), but he had to leave immediately since it was such a disgusting martial law/lockdown and curfew environment - he couldn't stomach how repressive it was.

1 and 2 are the best options: 1 is very challenging but worth it if you are all in at another locations and are ok with being there long term, which has many pros and cons. 2 is still likely the best option, sadly, because tumult is coming but the one thing about the US that makes it shine besides history is its regionalism and history of states rights with individualism, which prove it to be a very hard place for globalists to quickly do anything, and they do need to go fast. Trust it.
 

Deepdiver

Crow
Gold Member
As someone who formerly had an offshore corporation I would recommend never doing so. The risk of loosing all your money is very high. The Feds and OECD have made it too risky for banks to offer accounts to pieces of paper in the Caribbean. If you can get a bank it will be be one that will be a high risk of bankruptcy or losing their correspondent banks, in a country like Belize or Tanzania. And it's not likely any of those banks will allow you to touch BTC.

You might be able to do something with Nevada or Delaware LLCs.

If I was a US citizen I would consider I had three options:
1) renounce citizenship
2) pay all my taxes
3) move to Puerto Rico or one of your other dominions
With all due respect this seems a bit extreme for US Citizens... especially as a US Citizen who swore an oath to protect and defend the constitution - Patriots are under severe attack by BLM-Antifa-Socialist-Marxist CCP allied forces - does it mean its time to cut and run - NO - but the wise leaders of history used these circumstances to beat a strategic retreat and regroup and build up the 5 Elements necessary for success in all human endeavors, Be it a Family, a Business, Politics and especially War.

The five elements are 1. A Morally Just Cause, 2. A competent Leader/CEO/General etc. 3. A disciplined Organization that has bought into a Vision (School or Military or Business Tradition and ethics; Hard Work, Study and application of skills pays off in the end). 4. Deep knowledge of the Cycles and Seasons of life and the terrain, geography, marketplace, areas of SWOT and best options for success and victory. 5. An abundant and growing war-chest with which to arm, equip and pay your people.

This Nomad Capitalist's style of abdicate and renounce advice ignores a lot of powerful options for US Citizens. Basically Incorporate an Onshore LLC in South Dakota with South Dakota Bank Accounts and Hold Ownership of the LLC especially any low risk long term assets wealth preservation LLC into a South Dakota Trust - As the Toasted Coasty Commie leftists and Euro Commies ever expanding OECD intrusiveness and eradication of privacy expand there is one area where privacy and trade secrets reign supreme inside Corporate Structures - basically modern day fiefdoms both Inc and LLCs. The South Dakota Trusts are the world's now premier Wealth Preservation and Asset Protection trusts - basically the modern day trusts from Medieval Europe to protect the Lands and Assets of Holy Roman Knights when they went off to Crusades in the Holy Land, assets that include multi generational wealth preservation aspects, productive Agricultural Land especially Orchards and Vineyards, Rare Fine Art; Greek, Roman, Egyptian, Renaissance etc., and hidden Gold and Silver deep underground on their Agri-Estates.

There is a world wide Anglo Saxon Network that has been strengthened from the City of London subsequent to the severe damage to London after the bombing of Britain and London by the Nazis and in a tradition going back to the Conquest of Britannia by Ancient Rome and that is the Modern Day Global Anglo Financial Empire that current legally via CoL and Affiliated Offshore entities manage and protect $25 to $50 Trillion in Wealth Protection Assets. Where are the Worlds safest Banks - Anglo/British Commonwealth Nations with the Commodity Currency Countries Oz, NZ and especially Canada at the top of the list - Why - they have not welcomed 100 Million Low IQ Gimmegrants to their shores - to the Contrary if you want to move to Canada you have to have skills that are in short supply and come in through their merit based system. Consequently Canada does not need to spend on a massive Nuclear Deterrent as an attack on Canada would be repulsed by the US by Treaty - unless the Chinese 100 Year takeover strategy by gradual high IQ immigration absorption ultimately wins control of all the Americas. Canada does not tax its Citizens on World Wide Income like the USA does so US Citizens need to implement Offshore Entities to do business around the world and the Fortune 1,000 derive more than 50% of their revenues and taxable income from Overseas which is why Intl Business Entities will never be restricted no matter what the Euro-BLM-Antifa-DemmoCommunists and their CCP allies demand.

Which comes to the nexus of these facts and that is the Anglo-Saxon invention of IBCs spread among their global offshore financial network as insurance against the Next Fascist, Socialists, Marxist or Communists take over of Europe and the Anglo-Saxons Mother Nations.

So Combine the world's now most private Wealth Preservation Trusts in South Dakota with an International Business Corporation an IBC in the British Commonwealth CoL controlled offshore jurisdictions and you have an offshore IBC in a British Commonwealth Country Bank (Safest being in Canada Operating in the Bermuda, BVI, Bahamas, Grand Cayman etc jusrisdictions) and within structures that support growth of International Business products and services.

The Difference between an LLC and IBC - LLCs can conduct any legal business in their various jurisdictions whereas IBCs can only conduct business offshore of the IBC country and repatriate the profits to the IBC subject to annual IBC fees in the 5% to 10% range (Not Biden Regime 40% to 80% confiscatory taxation and fees Local, State and Federal) and typically require Wealth Management levels of money to set up in the $1M to $2M+ range per IBC standard wealth management minimums.

Off course the key is these are Highly Safe British Commonwealth (Canada etc) Banks on CoL Corp Secrecy and Common Law in these Offshore Wealth Preservation Districts - Search Bermuda, BVI, Bahamas, Grand Cayman and British Commonwealth West Indies countries with Major Safe Canadian etc Banks ... As long as OECD countries realize the NEED for domestic Corps to do business around the world to earn enough profit to pay the social safety net taxes in their respective countries these legal offshore arrangements and entities will thrive.

Hmmm South Dakota Wealth Preservation Trusts (Uncrackable and strengthened yearly) that Hold LLCs and or IBCs that do business internationally and hold assets (i.e. invest and trade Cryptos, Stocks, Bonds, Indices, Commodities etc.) with accumulated wealth in Safe Offshore Banks - MUCH MUCH Safer than FED member Casino Banks - that allow profits to accumulate at low IBC fees or nominal taxation.

Where it gets interesting is repatriation of Assets to put to work in onshore Business Opportunities and accountancy firms like PWC excel at that.

And while operating offshore a little Nomad Capitalist Plan B and C multi-flag - multi passport preparation and wealth diversification would not hurt.

 
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Blade Runner

Pelican
This Nomad Capitalist's style of abdicate and renounce advice ignores a lot of powerful options for US Citizens. Basically Incorporate an Onshore LLC in South Dakota with South Dakota Bank Accounts and Hold Ownership of the LLC especially any low risk long term assets wealth preservation LLC into a South Dakota Trust - As the Toasted Coasty Commie leftists and Euro Commies ever expanding OECD intrusiveness and eradication of privacy expand there is one area where privacy and trade secrets reign supreme inside Corporate Structures - basically modern day fiefdoms both Inc and LLCs. The South Dakota Trusts are the world's now premier Wealth Preservation and Asset Protection trusts - basically the modern day trusts from Medieval Europe to protect the Lands and Assets of Holy Roman Knights when they went off to Crusades in the Holy Land, assets that include multi generational wealth preservation aspects, productive Agricultural Land especially Orchards and Vineyards, Rare Fine Art; Greek, Roman, Egyptian, Renaissance etc., and hidden Gold and Silver deep underground on their Agri-Estates.
Great points. Thanks.
 
If you’ve been hodling for over a year it should be 15% on any long term gains (but no tax on your principle ).

Another question, have any of you set up an offshore llc to buy Bitcoin for your Roth IRA? There is zero capital cains taxes or other taxes when you withdraw from the Roth IRA after age 59, you pay zero taxes on it if you set it up this way
I just set up a self directed IRA via domestic LLC using Broad Financial. They create the LLC for you and set you up with a custodian that you can transfer your current IRA funds to, who then transfers the funds to your LLC. One time fee of $1400 plus $360/yr, plus whatever your state LLC filing/yr costs. If the funds are Roth, you can now buy, sell, trade, and cash out ad infinitum with no capital gains.
 
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