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773 sats \ 6 replies \ @siggy47 26 May 2023 \ on: Will Bitcoiners Do A Better Job of Retaining Their Wealth Over Time? bitcoin
This is perhaps a really cynical way to look at it, but if families keep their wealth in bitcoin, they should retain wealth better through the generations simply because they can avoid government interference through taxes. The most obvious would be capital gains taxes and inheritance taxes, but wealth taxes can't be too far down the road. There are two obvious methods of avoiding these taxes:
- Boating accident
- Relocating to nations with more favorable tax policies
yeah i believe inheritance taxes are a big reason for the big wealth retention losses.
however, bitcoiners have a unique issue to worry about in key management.
poor planning there could take a family’s wealth to zero in an instant.
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Are you thinking about something like Liana wallet? It makes sense. I haven't taken the time to consider all this stuff. No grandkids yet. Maybe after next halving I'll get motivated when the number goes crazy. For now I'm just thinking about stacking.
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i mean that many bitcoiners may be single points of failure for passing btc along to their kids… and that’s something that people with wealth stored in other asset classes don’t think much about.
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I guess you're right. I imagine that rich families have always had a safe somewhere in the house where they kept their gold. I just assume they'll squeeze in one or two of those steel seed holders.
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- Be a sovereign individual, wherever you are/live and say to any taxman FUCK OFF.
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Then again there is always this approach 🙂
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