Bitcoin: So at the end of the day, is it worth it?

[Yutaka2024]

crypto has been around for about 15 years; with bitcoin etf approved and blackrock and fidelit buying 500 million a day; and the block size getting cut in half in less than two months. Its not hard to imagine this perfect storm is coming together.

[Yutaka2024]

I want to wish every one luck holding bitcoin as part of their portfolio; this maybe a wild ride with the institutional money coming in

[Yatsushiro2]

All I can say is, never underestimate where this can all go.

In the very early days of bitcoin, I mined 15 coins with an old PC running a run-of-the-mill AMD video card. Eventually I shut the PC down and forgot about bitcoin for a few years. Then one day I noticed bitcoin was worth $900 each and I was completely blown away. I sold them within days, paid off a bit of debt and bought a hot tub.

I would sure prefer to have 15 bitcoins now.

[Gulliver]

…and bought a hot tub…

The 1980s called. They want their hilarious accoutrement back.

[captainspoke]

Speaking of the hot tub era, over on one of the japan subreddits someone once made the following comment:

"Golf course memberships were the bitcoin of the 80s."

[adamu]

Even the official English capital gains tax guidance mentions "transfer of golf club memberships" as an example.

https://www.nta.go.jp/english/taxes/ind ... 023/05.pdf

[Yatsushiro2]

…and bought a hot tub…

The 1980s called. They want their hilarious accoutrement back.

It was a completely inadequate substitute for onsen, but our family still enjoyed it for a few years.

[MisterWebber]

I plan to off load it around 100-120k usd.

Just be aware that cryptocurrency profits are taxed as income in Japan, not capital gains, so trading crypto can be very expensive indeed if you make a large profit.

Only if we sell the and take in those profits, right?

[adamu]

Only if we sell the and take in those profits, right?

Or convert one type of crypto asset to another.

[MisterWebber]

Only if we sell the and take in those profits, right?

Or convert one type of crypto asset to another.

Ahh, I see. That's good to know. Thank you!