Been having a rough time as of late, need to get my mind distracted for a while, anxiety can be devastating. Picked up this today and finished it already. Thanks @preston for taking my mind in a different direction.
On August 24th someone went to the bank of Bitcoin and cashed out 24,000 BTC and guess what the money was there! I challenge anyone to attempt to cash out $2.7 billion from their bank and see how that works out for you.
If I purchased a troy ounce of gold 50 years ago for $160 and then bought another last week for $3,350 and then sold the gold that I bought last week today for $3,350 I wouldn’t pay a tax.
If I bought one BTC 10 years ago for $200 and put it in cold storage and then purchased another BTC last week at $124,000 and then sold that BTC today for $113,000 I would be responsible for a $112,800 tax liability.
Every sat is a unique and shouldn’t be interchangeable like gold.