Haha actually I don't Blame those people too, people Never see the story on the other side, it's true for the riches too, they too are arrogant sometime and don't respect the story of the poor, but yes it's true that corruption , politics are part of story of every rich, but just corruption cannot take you anywhere, if it was so easy everyone could get rich by bribing a government official. It's entirely the hard work ,smart work and fortune of a person which can make him rich.

True, applying upper circuit and lower circuit to the stocks which have huge volatility is one major thing which governments do to control volatility but arrest of Elon is too much.  A few days ago a major business journalist in India made a very dubious tweet without any name of any business group but still one business group terribly crashed by around 20-25% when the market opened after that tweet. So these things are pretty normal in every market, there aren't many actions that happen.

See I am not a conspiracy theorist. Ancillary activities like confrence etc. Are perfectly fine but talking about bribery Is there any proof of that? Just a few conspiracy theorist article? If they have so much of proof why not drag him down to the courts? Power of masses has always been more than any business tycoon. If we are believing every conspiracy theory then illuminati are everything, what can us government do?

Hahaha. You seem to be funny on this. you mean to say when a person does small charity, he shouldn't be taxed, but if he is doing bigger charity of over 100 million, he should be taxed?? You know how this law will be handled by any government? They would say that this type of law would encourage people to do lesser charity.
Also I suppose you live in Indian subcontinent, just tell me why do governments give tax saving options to everyone if they make investments in the economy?? Aren't the government losing that tax too? It's a delusion in the minds of people that taxes are everything in an economy.

Yes it's true. Bitcoin and overall Cryptocurrencies market have to stay. The amount of money that has been pumped into the market it's really enormous. Also the utility it has provided to the society, also the utility that altcoins have provided it has really become a in separable part of our society. Also it has become am inseparable part of lives of bitcoiners so it is obviously going to stay forever.

The only problem is the strength of the market, this clearly looks like an accumulation or distribution phase created by the whales, now the most difficult decision in such times is the type of trade to create. Moreover in these times whales trade against the sentiments of market, for example they would push down the market even when all the signs are indicating a bullish momentum and will push up the market from very bearish scenarios. Best idea in such markets is to stay out of market.

The intent you have is pretty good but I have hardly seen these change.org petitions having any effects on the governments especially in third world democracies. I think a better idea is to try and lobby the government by forming an association of bitcoiners, better get it registered as a trust in your country, then try to appeal government using the name of the trust and your contacts to overturn the law against bitcoin. Also, a very good motivating factor for you would be if the Indian government somehow brings a law on bitcoin. Because from what can be heard bitcoin is going to be regulated in India which means it would exist and Bangladesh too could copy India's style of regulation for it' economy.

Now I am feeling as if I am the lawyer of Bill Gates and his foundation.  Anyway's I'll try to answer your question.

A Median household income of a person in the United States was [url text =$68000]https://www.census.gov/library/publications/2020/demo/p60-270.html[/url] for a year in 2019. Fast forward it to 2021, let's assume a fall of $10000 due to covid it's still around $58000.

Now firstly I already said that you need to have that required knowledge with you. Now Opening a 501(c)(3) trust account in the United States would cost you around $700 to open up as per this blog: https://www.bossonabudget.com/blog-1/2020/6/10/how-much-does-it-cost-to-start-a-nonprofit. Let's assume it's $1000. Now if a person whose tax is more than $1000 for the year can choose this option as it would be less costly for him than paying the tax directly. So a person has both the option it's up to him where he feels he is getting more advantage. Just Basic marginal costing of any business. Trust me opening a 501(c)(3) in the US or a Section 11 Organization in India isn't that difficult. Also if you are saying there is a lot of paperwork and everything, the same thing applies for Bill Gates too, he is also complying with the same formalities it's just that he has attorneys to handle that because his differential between tax and cost of setting up this institution is much higher.

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Again a wrong Argument. I hope you understand activities known as Ancilliary activities. These are the activities done to achieve the primary goal of the institution and in every law around the world, these get the same status as that of the core activitiy.


So answer my simple question. You mean to say if a person earning $3000 per month decides to open a charity u/s 501(c)(3) because he is really a philanthropist, he too should be charged for 20-30% taxes first, and then he can do his charity?

I am not saying what Bill did was right, but I am trying to say what Bill has done can actually be exercised by anyone if your economies of scale allow.

I don't think you are getting what I am saying. If you too tomorrow create a trust and transfer your shares into that you too will not be taxed. This is the law. BMGF is a 501(c)(3) organization. There are around 1.6 Million such tax-exempt foundations in the U.S. It wasn't bill gates who got preferential treatment, even a person like you can create such an institution if you have the right knowledge. If you are in India too, you can easily open a charitable Institution u/s 11 of Income Tax Act,1961.

Whenever your foundation sells the shares they will not be taxed. This is how it works.

While I am giving you a way of tax planning, you are just cribbing about the fact that Bill Gates used a tax loophole for tax planning. I am telling you the law is the same for a 1000$ Shareholder and Bill Gates if both of them don't sell it but transfer it to their charitable organization.

See my Lenient view comes from the fact that

1. Law is created in such a way that it is equal for all and everyone is tried in the same manner. The facts and the substance of the case can sometimes or in fact many times get ignored due to the form of transactions but our courts are designed to punish only on the basis of "form" and not "Substance". Think of it in this way, what if you and I really honestly want to open a charity and decide to donate everything to that charity. Should it be taxed? If your answer is no. Then even Bill Gates cannot be taxed. How will the courts or the tax authorities determine the difference of intent between us and Bill Gates? If your answer is yes, make sure you are going to give 30-40% of the charity which we want to do to the government itself?

2. Now let me keep this in a manner you will not like. Microsoft and many other companies developed infrastructure worth Billions in the US Alone! If the US today is called the biggest superpower it's solely because of these companies! Now, these companies could easily argue that we have delivered a profit of much more than 20$ Billion to the US Treasury itself. Also, we have provided thousands of jobs to the citizens of the US making their livelihoods better. This is the leverage that these companies carry and they use it to make sure they get these advantages in their favor.

3. Tax Planning is a tool that every citizen in every country uses. Even a little bit of avoidance too. I have not met a single individual saying that Hey government takes away 40% of my taxable profits because it's your right. If you have done it then you really either are too patriotic as well as empathetic or you have never gone to any Accountant. We do curse these corporates when we see them as citizens but when we ourselves make our business we make sure that we pay the least in taxes.

PS: I am not being a rightist who favours the corporates. I am just telling you the brutal reality! No one is here for charity and trust me "charity" is really a myth. Humans have always been competitive when it comes to survival and money. You are saying that Big Guns and these big corporates are enemies to society but they can easily argue that one cannot reach this level where they are without satisfying all their stakeholders!

Also, it's not that all Billionaires get away with Tax Evasions! Just heard today that Mcafee killed himself as he was being extradited to the US.

Yes you are right striking off a few zeroes is always better than issuing high-value notes but it's only a temporary solution to get the economy going it cannot be a solution for hyperinflation at all. I think the only successful way we have been able to solve the hyperinflation crisis is by dissolving the national currency altogether and using any stable foreign currency in place of that to alteast ensure equitability among all the citizens because in a hyperinflationary situation those among the top tiers who receive their incomes from the government directly are in a much better situation as they spend it before new money supply has kicked in. Also, black marketing and Hoarding by bureaucrats can be stopped using this method only. Hyperinflation is a very difficult situation to handle and especially for the very intelligent economists of that country because of whom the country is in this situation in the first place.

I think the only difference is the Age of the markets, how can we compare a 200-year-old stock exchange which has stocks of companies more than 100-year-old with a market which has emerged in just last 5-6 years and is still evolving as it hasn't really reached enough number of people. The earlier is obviously much more mature and has seen various seasons and times therefore the reliability of people in those markets is much higher which leads to lesser FUD and FOMO, therefore, lesser volatility, whereas when bitcoin crashes 80% of people feel it's the end of cryptocurrencies.

See I'll keep it this way. Taxes are designed in a way that people are expected to pay it only when they utilize the benefit of that Income. Bill Gates did transfer all his shares to Bill & Melinda Gates Foundation but did he sold those shares to and used the "actual Bank Receipts" for his own personal benefit/ luxury? If someday this foundation is dissolved they will have to pay taxes and if the foundation sells the shares the proceeds will remain with the foundation and cannot be used by Bill Gates for his personal use, at least Legally!

Also, a few of these methods you have listed down are tax loopholes and are categorized under "TAX Avoidance" and not Tax planning unlike the previous one. It's obvious that people having more money can hire more intelligent and experienced accountants to set off their Taxes. Trust me if you hire an accountant tomorrow he will tell you 100 ways to go zero tax if you have even a small business. So, it's too communist to blame a billionaire for using tax planning techniques.

Also Loopholes aren't always intentional but the laws are so complex that loopholes are automatically formed. Trust me writing a law is much more difficult than you think.

This actually is inversely proportional! Inflation was itself the reason why Zimbabwe had to print a $10 Trillion Note. A need for higher currency notes arises only when the purchasing power of the country has risen which means the currency has got devalued by a certain proportion. One Argument you can give is that high denominated notes will add quickly to the overall money supply but that isn't really the truth because when printing takes place they have a set target of reaching a particular value and then they decide how will they split the denominations. So Either way what you are saying is absolutely wrong.

I completely disagree with your notion!

1. Income tax is charged on "Incomes" earned during the year. When we say Incomes earned it's actually the incomes realized on which you pay taxes. A person needs to have cash to pay his income tax, if a law comes in that a person has to pay tax when he gains wealth and doesn't matter if he realized cash or not. People will always be short of cash  to pay taxes and it would hamper the middle class the most.

2. Wealth tax is charged on holding certain wealth. You cannot say that Income tax should be charged on the Unrealized Profits of people. Also if someone like Jeff Bezos sells all his assets today and realizes his wealth chances are he would be able to realize just 20% of his total wealth because stock prices would crash too much before enough buyers kick in. So how can you expect from him to pay taxes on this sort of wealth??

3. The idea of calculating taxes as a percentage of wealth built and presenting it to make it look like they paid less tax is absurd. Because this way Satoshi Nakamoto would be the biggest tax offender in history.
 
I don't think we can or we should blame them for this. This is the intelligent tax planning that they do with their assets to make sure they don't pay a dime in taxes. But does this means they will never pay tax? The answer is a plain No! Whenever they would sell off the shares of their companies they will have to pay taxes on them. Most of them might propose the idea of rich paying more taxes. but if a rich intelligently saves tax legally, how can you blame the rich for not paying enough taxes??
 

I think it was pretty obvious even without any study proving it. But yes I beg to differ with one thing. I think that such amateurs exist in every market. They are not just here into the crypto markets but do exist in stock markets too. It's just that stock market has become so old and matured that it doesn't has that huge fluctuations because of huge sums involved otherwise the number of amateurs are pretty much the same here too. Also regulations cut down volatility by a slight percentage too.

HODL until the people who are telling you to HODL sell themselves so that you can sell your holdings for peanuts too. Remember those people telling you to buy the dips since 55k? Where are they now? They are the people telling you to HODL now. The only way to earn money in bitcoin is to think wisely. Either make systematic investment every month to average your holdings or wait for a good dip to buy a good position of 25% of your capital. Buying at every drop is sheer stupidity. Even if the price goes to 1 Million in future. Investing 1000$ at $50k would make you 20000$, while investing at $25k would make you 40000$. So don't do stupid HODLing. Buy at good points and set your time period of holding it.

Pullback and breakout. These two things work best for me. I pick up a time frame on 4 hour chart to look for any supports and resistances, then I just look for any breakout from that point or I look for any pullbacks from these points. If there is a breakout, I wait for retest on a smaller time frame let's say 1 hour chart and then make a trade. Similarly if the breakout fails then I go for an a
Opposite position after seeing the candle stick formation on a smaller timer frame let's say 30 minute or 1 hour chart.

Tax Loss Harvesting doesn't work this way. Basically, Tax-Loss harvesting works on the concept of kicking the can down the road. It works on the idea of realizing your losses to set them off with your current incomes. For example:

Year 2020: You bought 1 BTC for $10k
Year 2021: You sell 1 BTC for $60K

Gain in 2021: will be $50K
But suppose you have a position in Ethereum. Where you bought 20 Ethereum in 2021 for $4200. Now the position by the end of 2021 is worth $2000k. You sell the position
and suffer a loss of 20 x $2200: $44000 of loss. Immediately after the end of the year, you buy back your position again for $2200 only.

Now your loss of $44k can be set off against gain of $50k. Your net gain is just  $6K. Tax rate assumd at 30% will make your tax just $1800. While it would have been $50k x 30% = $15K. You deferred $13200 of tax payments to next years, Now, Assuming the Interest Rate you will earn on this Money by reinvesting it is 10%

Thereby saving 10% of $13200 =  $1320.

But yes obviously now you have brought Ethereum worth $2200 and whenever you sell it the buying price will be $2200. But what you have done is saved the Interest Costs of taxes on $44K by deferring it's payment into future years. It doesn't makes your investments tax free. Just delays your tax burden.

Why are we measuring centralisation or decentralisation using the price movement and fluctuations? Just because people panic sell it doesn't means btc is centralized. When we talk about decentralisation of control, we talk about the ability to make transaction without any central authority and this quality of Bitcoin can never really be compromised. I am pretty much sure even Satoshi Nakamoto would have never thought of Bitcoin and it's price volatility due to FUD. He was concerned only about the transactional aspects.

See Generally there is one single notion in all the countries regarding taxation on bitcoin, except for El Salvador, all the countries either treat it as a financial asset or have no law or status regarding it. In the latter situation too, it would be treated as a financial asset only. For all the financial assets there is generally a unanimous approach on taxation, countries have two types of capital assets, short term and long term based on tenure which vary from country to country and depend on your period of holding it. So check for the tenure in your country. After that second main thing is the tax rate on it. Every country has a different tax rate for capital assets, find the tax rate applicable in your country. In very layman terms, I will suggest you just treat them like you treat shares of any company in your country. Cryptos will generally have same kind of taxation.