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this post was submitted on 26 Apr 2024
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Bullshit. They can only say this because the guy who invented Ethereum just turned 30, and there are probably all sorts of other Crypto nerds who are worth that much but we'll never know it.
So you're saying these crypto nerds don't pay taxes?
Crypto is a capital asset in the US, so they don't owe the taxes until they sell. And many of them don't live in the US, on purpose. They figured out where they can go and buy citizenship so their tax burden is much lower.
So you're saying crypto is not worth anything until you sell it? Sounds like they aren't billionaires except on paper.
That's typically what it means, yes. Having large amounts of cash is generally a bad idea, because over time inflation makes it worth less.
Assets other than cash have value. Land, for example.
That seems like the norm actually, and not the exception.
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Yup, same as TSLA