Was a very interesting convo. But when she said “fiscal dominance is a load of hooey” I just switched off. Couldn’t take her seriously any more https://fountain.fm/episode/Iu981JRFYifJpH8C8NKB

Thanks so much for sharing your thought process Jake! AI is so incredibly handy when trying to think out different strategies, and get thoughts out of your head and down on paper 👌🏻 The decision between buying a house vs holding BTC is going to be the question of this cycle. I fee that very soon, it won’t have to be either/or. Have you listened Leon Wankums talk from BTC Prague? Total 🔥 My concern is income - getting leverage to buy a house requires greater and greater levels of income as each year goes by, but my working class salary stays so low. I could sell my BTC to buy a house outright, but the OPPORTUNITY COST doesn’t make sense… so then… it’s gritting my teeth and bearing it for another cycle 💪🏻 https://fountain.fm/episode/6SghT3dDmolm8afLZUkl

Excellent pod!! How do you keep finding these super interesting people? Not big names, just bitcoiners with great ideas and out of the box thinking! ⭐️⭐️⭐️⭐️⭐️ https://fountain.fm/episode/LgwbAslXbq9MBzRYh1KK

Cauchy a great article, Lyn is always so on point ✅

It definitely makes more sense to structure bitcoin loans this way, so that the borrower doesn’t incur any CGT. I’m a bit disappointed Ledn didn’t make this clearer when offering the loan. I guess they covered their bases, but it’s a little bit underhanded. It’s a shame because I do like them as a company, and will most likely continue to use them. I’ve looked into some of the other lending platforms, but tbh I think the B2X loan is such a great product for stacking BTC, I don’t know uwhy more people aren’t talking about it! Thanks again for the heads up and for the shout out 🙏🏻👊🏻

Hi again, so I’ve reviewed Ledn’s Custodied Loans to see if they also risk CGT events. Ledn have had these on offer for a while now, usually at an extra 1% premium to their Standard Loans. However now the Custodied Loan is the only one they offer, and the Loan Agreement language and structure appears to be more CGT friendly (from what I can deduce using ChatGPT as a research assistant). Here’s what I’ve found: Under the Custodied Loan agreement, the borrower retains ownership of the Bitcoin collateral, granting LEDN only a security interest. Key clause (Section 4(c)(i)): "Borrower grants to Lender a first priority security interest in and to the Collateral... The Borrower shall retain all rights of ownership in the Collateral, subject to the Lender's security interest." ATO Implication: Because the borrower retains beneficial ownership, the ATO is unlikely to treat this as a CGT event. The security interest does not constitute a disposal for CGT purposes. Hope this helps, as usual DYOR or consult a tax account (LIKE I SHOULD HAVE DONE 😅)

Sorry but the ATO won’t care if you decide YOU are right, or if I am right. It will be what they decide. On a side note, it will be very interesting to see how the court case progresses in regards to Victorian Magistrate Michael O’Connell, who ruled that bitcoin is a currency like the dollar and should be exempt from CGT… Of course this is not applicable yet, and the ATO will fight it all the way tooth and nail I’m sure. I swear, if Australia was able to pull its thumb out and take bitcoin friendly stance, the amount of capital that would flow here from all over the world would be mind boggling!

Firstly, thanks so much for this thoughtful post, and to for bringing it to my attention on his podcast recently. Secondly, in 2024 I took out some loans with Ledn. And now you’ve got me crapping my dacks 💩 Yep, Section 7 (b) it’s right there: “Borrower acknowledges and agrees that full legal and beneficial ownership of the collateral will transfer to Lender when Borrower transfers such collateral to the collateral wallet” Wow. I feel like a major jackass now. I wonder if Ledn’s “custodied loans” (now their only option, they do not re-lend to generate interest anymore) also have the same structure?? I’d better do some sleuthing.. I’ve already done my 24-25 tax. Have not been pulled up on this… yet. Anyone know a good Bitcoin savvy tax accountant in Australia’s?

Cheers Jake 🤙🏻 am I zappable now?? Yes it did end in c-section for us. Not in the plan, and now a bit of trauma to get past… but in the end we’re all happy healthy and together I totally see your point about being the product. More and more it feels like that these days, or as we get older it becomes clearer? I do believe our social contract was set up with good intentions, after the horrors of world wars in the last “fourth turning” But as the new saeculum approaches, the rot becomes increasingly evident. Thanks Satoshi for bitcoin!! I just wish more people would understand

Me and my partner just went through the experience of our first pregnancy and birth in NSW. We are well below the median income, but both work and pay our taxes. We were both blown away by the level of care and support we received from our health system. Multiple check ups, private birthing suites, private room for a week, outpatient support, home visits… all with no charge. We are so incredibly grateful, and our eyes are somewhat opened as to how our tax dollars are being spent. I also feel that our taxes aren’t used in the best way, and as a nation we are living beyond our means, but this seems to be a symptom of the global fiat system?