Was a very interesting convo. But when she said “fiscal dominance is a load of hooey” I just switched off. Couldn’t take her seriously any more

https://fountain.fm/episode/Iu981JRFYifJpH8C8NKB

Thanks so much for sharing your thought process Jake! AI is so incredibly handy when trying to think out different strategies, and get thoughts out of your head and down on paper 👌🏻

The decision between buying a house vs holding BTC is going to be the question of this cycle. I fee that very soon, it won’t have to be either/or. Have you listened Leon Wankums talk from BTC Prague? Total 🔥

My concern is income - getting leverage to buy a house requires greater and greater levels of income as each year goes by, but my working class salary stays so low. I could sell my BTC to buy a house outright, but the OPPORTUNITY COST doesn’t make sense… so then… it’s gritting my teeth and bearing it for another cycle 💪🏻

https://fountain.fm/episode/6SghT3dDmolm8afLZUkl

Excellent pod!! How do you keep finding these super interesting people? Not big names, just bitcoiners with great ideas and out of the box thinking! ⭐️⭐️⭐️⭐️⭐️

https://fountain.fm/episode/LgwbAslXbq9MBzRYh1KK

Hi again, so I’ve reviewed Ledn’s Custodied Loans to see if they also risk CGT events.

Ledn have had these on offer for a while now, usually at an extra 1% premium to their Standard Loans.

However now the Custodied Loan is the only one they offer, and the Loan Agreement language and structure appears to be more CGT friendly (from what I can deduce using ChatGPT as a research assistant).

Here’s what I’ve found:

Under the Custodied Loan agreement, the borrower retains ownership of the Bitcoin collateral, granting
LEDN only a security interest.

Key clause (Section 4(c)(i)):
"Borrower grants to Lender a first priority security interest in and to the Collateral... The Borrower shall retain
all rights of ownership in the Collateral, subject to the Lender's security interest."

ATO Implication:
Because the borrower retains beneficial ownership, the ATO is unlikely to treat this as a CGT event. The security interest does not constitute a disposal for CGT purposes.

Hope this helps, as usual DYOR or consult a tax account (LIKE I SHOULD HAVE DONE 😅)

Firstly, thanks so much for this thoughtful post, and to @Jake Woodhouse for bringing it to my attention on his podcast recently.

Secondly, in 2024 I took out some loans with Ledn. And now you’ve got me crapping my dacks 💩

Yep, Section 7 (b) it’s right there:

“Borrower acknowledges and agrees that full legal and beneficial ownership of the collateral will transfer to Lender when Borrower transfers such collateral to the collateral wallet”

Wow. I feel like a major jackass now. I wonder if Ledn’s “custodied loans” (now their only option, they do not re-lend to generate interest anymore) also have the same structure?? I’d better do some sleuthing..

I’ve already done my 24-25 tax. Have not been pulled up on this… yet.

Anyone know a good Bitcoin savvy tax accountant in Australia’s?