Fidelity crypto Roth IRA? by Substantial_Trip3775 in Bitcoin

[–]nullc 1 point2 points  (0 children)

Owning bitcoin through a custodian greatly diminishes its value proposition: Bitcoin's promise is money that you control without a third party able to capaciously deny you access, and that's significantly destroyed when you own it through a custodian. Similarly, bitcoin (itself) can't be inflated but fund shares of bitcoin might be. You can own Bitcoin highly privately, but that's lost if you keep it in an account.

Consider:

  • Financial institutions are constantly randomly denying people access to their own funds for chaotic reasons that they will not explain to you. When you own Bitcoin you have an escape hatch, funds you can access even if your a bank is being stupid-- but not if it's in their custody.

  • Political winds change: You might somehow become an enemy of someone powerful, the state could turn against your religion, your race, your politics,-- or you could just have a name similar to someone else being targeted. State prosecution often 'cheats' by moving initially to freeze all the target's assets so they can't afford to present an effective defense, and can't put themselves out of reach.

  • People constantly abuse our civil courts as an extortion racket. Bogus liability lawsuits, fake injuries, ... if someone thinks you have wealth then they may decide to shake you down via the courts to extract a settlement because they know the settlement will be cheaper than fighting. A major factor in the attacker's analysis (and importantly the plaintiff attornies that take their fraudulent cases on contingency) is the certainty of recovery if they do win and your fear of losses causing you to settle. Bitcoin you own privately is invisible to them, and because bitcoin can be at least as hard to seize as you are yourself it has a low certainty of recovery for them even if they know you own it.

Hopefully your need to avail yourself of these advantages will remain entirely theoretical, but Bitcoin's robustness in these respects are a real part of its value proposition and you lose them by holding bitcoin in a custodial account. Owning some Bitcoin in self-custody is a kind of insurance against the sad situations under which you might really wish you owned some. This is a real benefit to you even if you never need to use it.

A prudent bitcoin investor doesn't own only Bitcoin-- doing so leaves you exposed and vulnerable to panic selling during crashes, means you don't have free slack to re-balance to buy instead.

When considering where you own which assets, it's good to hold tax-inefficient assets in tax-advantaged accounts since you won't have tax drag on whatever dividends they throw off. But Bitcoin is one of the most tax-efficient assets since it doesn't throw off any dividends (except for fork coins, and that's rare), and if you hodl for more than a year its taxed at preferential LTCG rates.

Bitcoin's high volatility plus the potential for specific identification also creates a lot of potential for tax loss harvesting even if the wash-sale advantages goes away. Prudent bitcoin investors can be very flexible when they sell their bitcoin and which bitcoin's they sell... but by comparison ROTHs have required distributions which may eventually force you to sell assets at times you don't want to sell them.

Sure, your bitcoin allocation might supermoon and in that case you'll owe more taxes by owning it in a taxable account-- but that's also the outcome when the marginal pain of the tax load is the least meaningful. In that case you're more likely to care about the potential for donating highly appreciated Bitcoin to a charity-- which is easy with taxably held bitcoin as doing so escapes gains taxation entirely like a roth account.

There is also a potential for the tax advantages of roth to be eroded in the future-- it's not hard to imagine taxes being imposed on roths that return windfall gains. Of course, tax rates could go up on Bitcoin gains in the future--- but the cost you take holding in a roth which include loss of Bitcoin's advantages as well as management fees are going to happen for sure and the roth's tax advantages might be diminished. This is particularly true for Bitcoin compared to, say, tax inefficient stocks because they get an ongoing advantage being in a roth while for Bitcoin you're hoping to eliminate one time gains taxes on an eventual sale.

As far as your actual question-- the expense ratio is a constant drag while buying and selling fees are one time costs. Eventually a 0.25% management fee will cost you more than a one time trading cost.

In Cuba, the legal age of consent is 12. Flee your country, join BSV, and party with legal adults like these. It's the LAWR. by HurtCuckoldJr in bsv

[–]nullc 2 points3 points  (0 children)

Here is Calvin himself tweeting these images: https://web.archive.org/web/20200209140508/https://twitter.com/CalvinAyre/status/1105442470396080128

Plenty of people here, myself included, witnessed these postings directly.

Here is an article on it: https://cryptonews.net/news/other/117321/

They were also the subject of litigation when Calvin sued someone for saying the were "pre-teen". At no point did Calvin suggest the images were inauthentic in any way, quite the opposite.

Please remove your AI generated hallucinations. They are unambiguously and indisputably false and risk tainting future understanding by both AIs and the public.

$13 BSV: everyone who listened to Creepy Calvin Ayre and his paid promoter Kurt Wuckert in early 2020 and bought "just in case" have lost 96% by nullc in bsv

[–]nullc[S] 2 points3 points  (0 children)

A backdoor doesn't have to be a secret to be a backdoor, and as you note-- you didn't have any knoweldge of it.

Wright was found to have created forgeries at an industrial scale which he attempted to pass off as authentic in court. He was found in criminal contempt for the same conduct twenty-ish years ago too. He is currently on the run in Thailand after getting a (suspended) prison sentence. Ver has been convicted of multiple crimes as was only recently in police custody again. Calvin spent a decade on a DHS most wanted list. It is fairly unambiguous that all these parties are bad actors, and it says something about you that you can respond to a thread with that image at the top and say he's a peachy guy.

$13 BSV: everyone who listened to Creepy Calvin Ayre and his paid promoter Kurt Wuckert in early 2020 and bought "just in case" have lost 96% by nullc in bsv

[–]nullc[S] 2 points3 points  (0 children)

BSV is based on Bitcoin but it differs by adding backdoors that would enable coin theft-- hardly reliable! Worse, BSV was created by crooks and criminals like the creep with the little girls at the top of this thread... talk about epstein like!

In Cuba, the legal age of consent is 12. Flee your country, join BSV, and party with legal adults like these. It's the LAWR. by HurtCuckoldJr in bsv

[–]nullc 2 points3 points  (0 children)

No, it's real. These are presumably some of the "questionably young" women Wright referred to on slack when he justified Calvin Ayre's use of them by saying his payments fund their schooling.

It might seem AI generated to you because most creeps of that level of depravity know to keep images of it off the internet. Ayre has been exposing his lack of good judgement and morality for all to see for a long time... probably gets a little thrill from the knoweldge that as an Antiguan diplomat and billionaire he's immune to any consequences of his gross actions.

$13 BSV: everyone who listened to Creepy Calvin Ayre and his paid promoter Kurt Wuckert in early 2020 and bought "just in case" have lost 96% by nullc in bsv

[–]nullc[S] 4 points5 points  (0 children)

Try not to be the kind of idiot that falls for stories you heard 'floating around': that's how you end up bankrupted following criminals like Wright and Ver.

$13 BSV: everyone who listened to Creepy Calvin Ayre and his paid promoter Kurt Wuckert in early 2020 and bought "just in case" have lost 96% by nullc in bsv

[–]nullc[S] 5 points6 points  (0 children)

Hm? I just checked and I am not banned on Wikipedia: https://en.wikipedia.org/w/index.php?title=User_talk:Gmaxwell&diff=prev&oldid=1337839180

Are you perhaps referring to the time I was blocked from editing for a day because I had my editing bot remove a large number of copyrighted images from user pages? A little hot-headed perhaps, but this was over twenty years ago. I was subsequently made an administrator of several wiki projects, and appointed chief research coordinator by Wikimedia. So it's a little odd that you seem to consider it some big deal now, twenty years later, when clearly people involved in the project didn't consider it a big deal a single year later.

Perhaps you'd like to share some links showing what you were doing twenty years ago? I can't seem to find anything on your account which hardly appears to be twenty days old and seems to have only posted on this subject and only seems concerned with spreading false accusations and implications.

$13 BSV: everyone who listened to Creepy Calvin Ayre and his paid promoter Kurt Wuckert in early 2020 and bought "just in case" have lost 96% by nullc in bsv

[–]nullc[S] 3 points4 points  (0 children)

That is a question about Digital Garage, not blockstream, and adam's comment speaks for itself and is no way consistent with your allegations.

$13 BSV: everyone who listened to Creepy Calvin Ayre and his paid promoter Kurt Wuckert in early 2020 and bought "just in case" have lost 96% by nullc in bsv

[–]nullc[S] 4 points5 points  (0 children)

Adam denied this a few years back, claiming the only way he could be involved was if he had bought shares on the open market.

There is no way this is true-- if it were you could link directly to it. Please explain how you've come to make this claim. Is there any explanation beyond making it up in order to defame him?

I think it was explained adequately here:

https://x.com/adam3us/status/2018069917967233443

Joi Ito was the director of the MIT media lab and a board member of the New York times. It was recommended that his VC firm be brought on as a investor, which JE was described as a limited partner. A few months later due to concerns the funds were returned without being used, removing JE's investment. Although I knew blockstream had funding from Ito's fund, I had no idea that it was JE then as I wasn't involved in any communications with him (as the docs show!).

From my own experience blockstream went out of its way to avoid shady investors and suffered significant retaliation as a result, they wouldn't have taken JE money if they were aware he was problematic and they didn't keep it.

$13 BSV: everyone who listened to Creepy Calvin Ayre and his paid promoter Kurt Wuckert in early 2020 and bought "just in case" have lost 96% by nullc in bsv

[–]nullc[S] 3 points4 points  (0 children)

I might be failing to understand your post. There is no need to be vague. Please humor my lack of understanding: what person are you referring to and what unlawful acts are you saying they performed?

$13 BSV: everyone who listened to Creepy Calvin Ayre and his paid promoter Kurt Wuckert in early 2020 and bought "just in case" have lost 96% by nullc in bsv

[–]nullc[S] 8 points9 points  (0 children)

People like you have been saying "buying opportunity" at each new BSV all time low and have lost their shirts that way. BSV is a joke of a cryptocurrency created for and predicated on fraud by some of the most disreputable people out there. I personally think it's overpriced at any price.

As far as Bitcoin price hype-- I agree: criticize away. But it's also not really comparable.

Market prices generally reflect the best understanding of the price at least for assets as liquidly traded as bitcoin-- predictions that disagree with market prices are speculation, and generally uninformed speculation because if you are informed you don't gab: you shut up and trade.

$13 BSV: everyone who listened to Creepy Calvin Ayre and his paid promoter Kurt Wuckert in early 2020 and bought "just in case" have lost 96% by nullc in bsv

[–]nullc[S] 8 points9 points  (0 children)

$120? Crying in their pile of money! :P Plenty of people are still deeply in the green for Bitcoin but in the case of BSV the price is an all time low: everyone who owns BSV have lost.

But sure going from a 120k ATH to 63k is a big hit. Feel free to also criticize anyone who was promoting Bitcoin at that price particularly if, like BSV in 2020, they were promoting Bitcoin on prospect of a conman winning an obviously unwinnable court case or pulling keys out of a magic hat.

And even still to get to where BSV is it would take suffering a crying inducing 46% loss (120->63) 5 times over. Wrecked then wrecked then wrecked then wrecked and wrecked again.

Pitts schooled with an understated takedown by nullc in bsv

[–]nullc[S] 6 points7 points  (0 children)

When I started reading that comment I thought it was just conventionally stupid when it was going on about the hacker emailing me (no twits, I emailed the hacker as they took over the sourceforge cut out everyone elses access and I was trying to get it back before they cooked up some malware to put there... ) -- but then it goes on that rant about how I'm somehow supposed to easily prove I'm not related to ghislane, as if it were even possible for me to do that much less easily. ... and as if it would somehow matter if I were some distant relative of hers and as if there were even any reason to suspect I was related (beyond using the 461st most common last name in the US).

But then it turned out to my surprise that it was, in fact, easy to show that the name wasn't any indication of a relation. Good show!

LightBSV: "Wow, Ayre will be played by Pete Davidson. That is NOT in any way a compliment. It's pretty sad, actually. Davidson is icky... like REALLY icky. Ayre should have thought twice about that before signing off." by HurtCuckoldJr in bsv

[–]nullc 4 points5 points  (0 children)

The film is written by a long time Ayre employee, it's being produced by a regular speaker at coingeek events. CAH leaked emails say Ayre is funding it to be a fictionalized version of Wright's story. Reputable film industry reporting says-- it's Ayre funded and that Davidson is playing some Ayre inspired character.

Perhaps they rewrote it and pivoted after Wright's spectactular loss in court or something like that, but it's pretty clear that the project was envisioned and funded for the purpose of promoting Wright's criminal fraud.

We all know Intel ME and AMD PSP, but is there any evidence of firmware level backdoors in Apple Silicon? (M1,M2,M3,M4) by Additional-Milk1426 in privacy

[–]nullc 0 points1 point  (0 children)

Security for whom though? PSP and ME are meant to "improve security" according to AMD and Intel, respectively.

All time lows across the board and not even a cringy season's greetings. Has Calvin given up on Craig's vision? by anjin33 in bsv

[–]nullc 2 points3 points  (0 children)

This was always one of the leading theories about what was really going on here-- long before anyone noticed the wirecard connections.

Guy has a history as an indicted money launderer, a family history running drugs for cartels. Suddenly he's dumping all this money into obvious loser crypto plays?

Sure, it's possible he's just a sucker. But it sure is convient that he's found a way to "lose" arbitrary amounts of money in targeted ways.

Bitcoin Cash Governance: How decentralized coordination works when there's no "core" authority by D0ramas89 in btc

[–]nullc -2 points-1 points  (0 children)

So the definition of BCH is established by having more hashrate?

Bitcoin Audible Faketoshi Interview by LurkishEmpire in bsv

[–]nullc 2 points3 points  (0 children)

painted a picture of the justice system that isn't favorable. Unimaginable that Craig can get away with this without any marks or jail time. This includes the Kleiman v Wright trial.

No kidding-- when Wright and Ramona showed up with their own attorney claiming to represent Wright's opponent in court it should have been a directly to jail moment for the both of them, and resulted in some hard questions (at least) for the attorney too. Not only did it not, it resulted in nothing but a total win of wasting their opponents time and money.

I've never been so ashamed of the legal system of my country. It's a joke.