The dip.

With the panic selling of people holding BTC and other crypto currencies in the last two days I am forced to look at the why. The big concept that I am hearing is Joe Biden and his proposed bill. An increase in capital gains tax. Capital. Gains. Tax.

Now lets break this into the three words of what the bill is about.

First is capital. These people (those that have bought BTC and are not panickingh because of a bill) have used their otehr assets or capital to acquire another asset which is a transfer to another type of capital (crypto). Accordingly if these idiots because that's what they are to me, had taken their capital and invested it to another class of asset like property. This is also another form of capital. Because they are all assets to begin with and all assets can either appreciate or depreciate.

Second is gains. This is pretty easy so I will just say that the value of any capital held and owned beneficially by anyone that increases in value would mean there is a gain if it is sold or transferred to another person or legal entity.

Mind you if it loses value its considered a loss so that would be offset to any other capital that is sold at the same period to reduce capital gains/losses.

Third is Tax. Even now when you sell BTC or any other crypto there is tax for when we sell it at a higher value. That is why when you sign up to an exchange they take your details. Why? Because when the tax man comes to the exchange they can then go about looking who has declared their transactions in their tax returns.

So the question that comes to mind is why the panic when the issue really is an increase in tax rate for all sales of capital. There is no specific targeted class of asset that is being focused on. I would then say why these idiots are idiots for the simple fact that they have in effect allowed me to buy BTC at a lower price.

HAHAHAHAHHAHA I then say thank you for being the idiots that you are and keep on keeping you while I keep on keeping me.

Am glad I have noted and transcribed this out of my head because frankly if it was not done so now I would be left with nothing but just be twiddling my thumbs and waiting for an opportunity to buy in some more.

My only hope is these idiots continue dumping that way we win by acquiring their sold cryptos.

Thank you and good day.

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