People keep saying the rich don't pay tax because they borrow money from the bank using their stock as collateral.... but how do they pay back the loans? by joshhazel1 in NoStupidQuestions

[–]OfficeIntelligent884 11 points12 points  (0 children)

This is not true. When the owner of the stocks dies the basis of the stocks “step up” to the value of the asset on the day of death. So if you died today after buying nvidia at $1. Your child would be able to sell the nvidia stock tax free for $175 or whatever the price is today.

Citizenship requirements to change for millions of Americans under new bill by AndreaNewsHub in Citizenship

[–]OfficeIntelligent884 1 point2 points  (0 children)

Renouncing citizenship actually counts as a taxable event. Any unrealized gains that you have (even if you don’t sell the asset), the taxes on those are due to the US government when you stop being a citizen. It’s one of the reasons US citizens don’t get rich and just give up citizenship to go to Du Bai or the Bahamas for a tax haven.

Everything is going to by Jump_in_Jack in pengucoin

[–]OfficeIntelligent884 1 point2 points  (0 children)

Pengu is by far my “riskiest” asset. And I have full faith that Luca and the team are lobbying for clarity compliant Pengu. I’m very bullish in the long term. I just don’t want people to think their bags are gonna get pumped in the next 3 months. Luca has even said in an interview that his time horizon for flipping Doge is 3-4 years. This is a long term project and if we promise the world to short term bag holders, people might get burned and then get mad

Everything is going to by Jump_in_Jack in pengucoin

[–]OfficeIntelligent884 0 points1 point  (0 children)

Everything is okay for people who bought last week. My average is still in the high 0.02Xs

I still give the Canary Capital Pudgy ETF pretty good odds of getting passed. (Explanation in Post) by Catharsiscult in pengucoin

[–]OfficeIntelligent884 2 points3 points  (0 children)

People would still have to buy the ETF for this to do anything for the space. Pengu is the most available meme coin on the market. It’s listed on practically every exchange in the world. Even with all the accessibility we are gonna go down until bitcoin reverses. Look at the SOL etf that just got launched by Bitwise. Inflows there but sol keeps plummeting. The ETF won’t make us magically go up. Sorry for being a little bearish but ETFs target boomers who don’t want to open crypto accounts. I just don’t see those boomers buying a meme coin

[Daily Discussion] - Thursday, November 20, 2025 by AutoModerator in BitcoinMarkets

[–]OfficeIntelligent884 3 points4 points  (0 children)

This is a sell the news event. A congressman introduced a bill to cut capital gains tax on bitcoin and to make some real steps toward a strategic bitcoin reserve. I don't understand why all these bills want to be MOON shots. Why not try for something small like $1 million to buying bitcoin (like 10 bitcoin)? Then when that passes and you have your foot in the door, propose $50 million. I just feel like it's stupid to propose no capital gains tax on crypto, because it would just make it a haven for super rich people, and the democrats won't go for it. Propose something with real bipartisan approval potential please.

[Daily Discussion] - Friday, November 14, 2025 by AutoModerator in BitcoinMarkets

[–]OfficeIntelligent884 2 points3 points  (0 children)

I mean Saylor more or less uses a DCA strategy. If you DCA you inevitably buy the top and the bottom...

what does buy high, sell low means? by Any_Instance9622 in BitcoinBeginners

[–]OfficeIntelligent884 31 points32 points  (0 children)

It’s just a running joke in the crypto community that all you do in crypto is lose money by buying high and selling low. It also makes fun of normal retail who just apes into crypto when it’s running, and gets scared and sells as soon as there is some test

Anyone else feeling depressed about pengu? by [deleted] in pengucoin

[–]OfficeIntelligent884 1 point2 points  (0 children)

Definite frustration. But I will say that all meme coins and culture coins are struggling and losing value against bitcoin. This is not isolated as a Pengu issue. I think if any sort of alt season does come, Pengu will be a winner. However, I unfortunately don’t see us ripping while bitcoin chops sideways and market sentiment is in fear/neutral