I don't see how this is relevant to the current topic.
Yes, the LEO bridge will be an excellent liquidity backchannel.
That's not going to get one out of a tax obligation unless they break the law.
Perhaps you could expand on your logic here a little bit.
It still wouldn't be native, but the bridge might make it easier to rotate between the two. I only pay taxes when I move crypto to fiat.
I 100% guarantee you should not publish such things publicly.
:) yeah, probably not, but I'm kind of over everything at this point. I probably should have just not commented on your post. I apologize.
Much better to have these conversations now honestly.
Crypto is a confusing place.
I actually do report all my buys and sells through centralized exchanges. It's just usually so little that it never meets the criteria for reporting when my accountant does my taxes. I'm seriously interested in this whole collateral thing. It's just taking a bit for me to wrap my head around it. As I've said in the past, it feels too good to be true, so I assume I'm missing a piece that represents the downside to it.
The main downside is complete systemic failure of the Thorchain ecosystem.
Thorchain community is confident they can offer this good deal and not fail in the long term.
I don't know if they can or not (I think it will fail in 2027).
But if they are stupid enough to offer such a good deal we should probably capitalize it before they realize their mistake. 2024 is the year to do it as 2025 is the insane bull market year where anything can happen.
That makes sense. I still can't quite figure out what I would use the funds for. I mean say I had $2000 BTC I wanted to put in. That gives me $1000 in loan money? I don't know what I would do with it.