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As much as I hate taxes, they’re great at forcing the HODL. Right now the incentive to HODL is 35% in CA. Just imagine how much HODLing everyone will do when taxes are 55%. If you want #Bitcoin, better buy it now before it’s too expensive to sell. Biden understands this.

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Brad Armstrong

@Nvntr

Apr 30, 2021

I was following until you wrote: "Biden understands this." What Biden understands is?!? but I do agree, bigger taxes incent crypto hodling. Like in '65 when they took silver out of US coin, people then hodled the real silver coins and spent the pot metal. Hodl crypto it's >fiat!

Jesse Powell

@jespow

Replying to

@Nvntr

Biden is attempting to improve HODLing over spending by doubling the cap gains rate. It’s genius because he’s playing it as a way to collect more taxes but in reality, with less selling, it’ll be net less taxes, which also has the benefit of starving the beast.

6:57 AM · Apr 30, 2021Twitter for iPhone

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