Can't have foreign scammers competing with our domestic scammers![]()
Eric Trump Announces Zero Tax for U.S. Crypto Investors
Eric Trump confirms zero capital gains tax for U.S.-based crypto projects like XRP & HBAR and major tax breaks could spark innovation in the U.S.www.cryptotimes.io
This would be... kind of insane. But amazing. Going to need some details about what is considered "based in the USA."
That'll come in super handy when I cash out my SOL losses.![]()
Eric Trump Announces Zero Tax for U.S. Crypto Investors
Eric Trump confirms zero capital gains tax for U.S.-based crypto projects like XRP & HBAR and major tax breaks could spark innovation in the U.S.www.cryptotimes.io
This would be... kind of insane. But amazing. Going to need some details about what is considered "based in the USA."
That'll come in super handy when I cash out my SOL losses.
Anyway, it's hilarious because this is just so they don't have to pay taxes on their own memecoin hauls.
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Eric Trump Announces Zero Tax for U.S. Crypto Investors
Eric Trump confirms zero capital gains tax for U.S.-based crypto projects like XRP & HBAR and major tax breaks could spark innovation in the U.S.www.cryptotimes.io
This would be... kind of insane. But amazing. Going to need some details about what is considered "based in the USA."
Kind of insane?
Crypto would explode as it would then be the best tax shelter in the world. I wouldn’t have to use my SEP > ROTH conversion anymore. I could just buy BTC straight up.
Yeah, I mean. Hard to wrap your head around it. Fiat would essentially be dead... Why would anyone transact in Fiat when you could just use crypto and avoid taxes 100%?
Hope you guys have big SOL bags.
Why would I ever want SOL over BTC?
Because BTC is an amazing store of value, but SOL is the best option if you are talking about actual on-chain transactions. And if this happens, it will be all about crypto transactions.
GPT always explains it best:
"what makes SOL such a great crypto to use for transactions"
ChatGPT said:
Solana (SOL) is considered a great cryptocurrency for transactions due to the following key features:
1. High Speed
Solana is designed to handle up to 65,000 transactions per second (TPS) in ideal conditions, far exceeding many other blockchains like Bitcoin (~7 TPS) or Ethereum (~30 TPS after Ethereum 2.0 improvements). Its block time is extremely short, around 400 milliseconds, enabling near-instant confirmations.
2. Low Transaction Costs
Solana offers extremely low fees, typically around $0.00025 per transaction. This affordability makes it ideal for micropayments and high-frequency trading.
3. Scalability
Unlike many blockchains, Solana achieves high throughput without relying on layer-2 solutions. Its architecture, based on Proof of History (PoH) combined with Proof of Stake (PoS), allows it to scale efficiently while maintaining decentralization.
4. Energy Efficiency
Solana is significantly more energy-efficient than blockchains like Bitcoin, as it uses a PoS consensus mechanism with PoH to optimize transaction processing. This makes it environmentally friendly while sustaining high performance.
5. User Experience
Fast transactions with minimal fees provide a seamless experience for users, whether they're sending payments, interacting with decentralized applications (dApps), or trading assets on decentralized exchanges (DEXs).
6. Robust Ecosystem
Solana supports a wide range of decentralized applications (dApps), including DeFi, NFTs, and gaming. Its ecosystem's diversity makes it a versatile choice for various use cases, which boosts adoption for transactions.
7. Global Adoption
Solana's ability to handle cross-border transactions quickly and affordably makes it appealing for global users and businesses seeking to avoid traditional banking fees and delays.
8. Developer-Friendly
Solana has tools and SDKs that make it easy for developers to build on the platform. Its growth in applications increases the utility and use cases for SOL as a transactional currency.
Summary:
Solana's speed, low cost, scalability, and energy efficiency make it a top choice for crypto transactions, especially in environments requiring high throughput, such as retail payments, DeFi platforms, and blockchain gaming. Its growing ecosystem further solidifies its reputation as a reliable network for everyday use.
The article refers to capital gains. Why would I care about on chain transactions?
If you go down the path of treating Solana as money you're going to get exactly what you deserve. Similarly if you use ChatGPT to think for you you'll get what you deserve.
You're very kind, Mist. I must warn you though. I am a massive asshole.
bought and staked a bunch of SOL
got a good feeling this
(which means SOL is going to zero)
I'm getting 7.4% APY on Coinbase.Where did you stake and what are you getting?
I'm getting 7.4% APY on Coinbase.