TFR on Nostr: The real lesson is to never live on an island where the citizens willingly forfeit ...
The real lesson is to never live on an island where the citizens willingly forfeit their natural right to own firearms.
quoting note1f08…83f6Peter Dunworth explains how Austrailia is implementing an unrealized capital gains tax within the pension system.
A worst-case scenario he lays out touches on bitcoin’s volatility, where your bitcoin may 10x in a given year from $3M to $30M. This would equate to an Austrailian tax bill of $9M. But if bitcoin drops significantly to $6M the following year, you would then owe more than the bitcoin you have and would hand over your entire bitcoin.
The solutions that come to mind are to become private within Austrailia, or put your bitcoin in your brain wallet and get out of dodge altogether.
https://fountain.fm/clip/u06iLIG1Ikv1oUkT7bn9
#austrailia #bitcoin #sovereignindividual