Wow, good stuff. I haven't been lucky enough to hold a full BTC, but I own some fractions of one. I had always anticipated that when BTC got to something like 1m per token I would sell and do whatever with the profits. I might have to rethink that now. The ability to use the BTC as collateral seems like it would be the smarter move. Is there a saying about rich people never spending their own money to make more money?
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That is the cool thing about crypto. You do not need a full one.
And at $1 million each, you will likely be sitting pretty with the partial BTC.
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Yeah, that is what I am thinking. My relatives will likely want to get out. I might have to find a way to buy theirs off of them before we get to that point.
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haha you're absolutely right on the borrowing against it instead of selling it. I'm just looking to find a way to collateralize without being bitten by the tax man... it is a loan after all, but is it legal?
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It's only illegal if you get caught... :) Right? I have a feeling by the time we are ready for that they might have some more guidelines in place.... maybe...
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I have heard of people buying solar panels and a tesla powerwall using a crypto backed loan....
I'm gonna investigate this further
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That would be awesome!
The guy I'm thinking about is John Bush of the Freedom Cell
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