My biggest fear is that people will perpetuate the old system, as nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe would call it, by using Bitcoin as collateral…it’s hard to r...
Bitcoin will be used as collateral for sure for the next while
Even capital gains tax is a reason to use it
In Ireland CGT is 33%
If I LTV it at 50%, I’m only at a risk of losing 17% had I had sold it instead 🤷♂️ and it’ll probably be set up in a way that I can get my btc back as I pay it back
In an ideal Bitcoin world I think collateralisation will be dead but for now, especially in Ireland, I see no major issue with it
Even capital gains tax is a reason to use it
In Ireland CGT is 33%
If I LTV it at 50%, I’m only at a risk of losing 17% had I had sold it instead 🤷♂️ and it’ll probably be set up in a way that I can get my btc back as I pay it back
In an ideal Bitcoin world I think collateralisation will be dead but for now, especially in Ireland, I see no major issue with it
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