Greg

Coming out of early retirement to provide crypto business consulting - helping people navigate factors unique to crypto-native and crypto-involved businesses

[Greg @big_rocks_first]

I study/share DePINs for my curiosity.

But I studied bringing crypto into business and onto books for the competence. E.g: implications to tax, accounting, operations, compliance and reporting, revenue vs treasury strategy, bylaws/operating agreement changes, Corp veil and more

[Greg @big_rocks_first]

@DeWiGoSite I've seen several folks state they believe helium opportunity is actually dead if the HIP proceeds, so surely the token price is down for a 3rd reason that some folks think this the death rattle. It's not my view, but I think it's a 3rd reason in the marketplace

[Greg @big_rocks_first]

@damien_arsenick @UnderratedLane @GilesAloha @Jackkk BTW, my very young adult kid said, having seen what's involved emotionally and competency wise to be good steward of $, they think it's wise I have limits until they get there. Wise parents require SUFFICIENT growth of kids before giving them big $. Work can be 1 way

[Greg @big_rocks_first]

@damien_arsenick @UnderratedLane @GilesAloha @Jackkk There's a distinction between a family that HAS to struggle, and a family that CHOOSES to struggle to an appropriate degree to develop the mentality that produces generational outcomes.

My kid didn't HAVE to struggle, but there was no way I was going burden kid with NO struggle

[Greg @big_rocks_first]

@damien_arsenick @Jackkk The reason is data shows your approach results in your kids and/or grandkids blowing it all & the grandkids and/or future generations have to go back to scrubbing floors. By only giving capital to kids once they have healthy relationship with $, will it do family sustainable good

[Greg @big_rocks_first]

@didiomario I really appreciate you taking the time to respond. I know you have a large task in front of you

[Greg @big_rocks_first]

Well articulated. Even if you disagree, it's a well articulated position.

[Greg @big_rocks_first]

@sunny051488 @orangeyield @benjamincowen That sounds like a reasonable threshold. With a fixed supply, the path to that threshold definitionally requires distribution, which potentially requires the cycles, to have distribution phases. And it likely takes as many cycles as it takes to distribute down to that level.

[Greg @big_rocks_first]

@orangeyield @sunny051488 @benjamincowen Besides, even with a potential 4 year cycle, for many the asset is always a hedge. I suspect there's some basic structural amount of support (based on measurable long term holder behavior) that wants to keep that hedge in place even during the down years of a 4 year cycle

[Greg @big_rocks_first]

@orangeyield @sunny051488 @benjamincowen As the asset grows won't same types of structural layers be added to the aspirational long term store of value asset? Above a certain threshold, it too will have decent structural index and passive retirement account holders, plus Treasury companies, etc. The soln is perhaps time

[vik0nchain @vik0nchain]

I've been seeing a lot of FUD and think a lot of people are misunderstanding this.

In the past year, industry major mobile data carrier offloads emerged as @helium's primary revenue driver.

This marked a major shift not only for Helium, but DePIN at large, as AT&T and T Mobile marked the first traditional infra players to leverage DePIN at scale.

Data transfer revenue directly accrues back to token holders through token burns, making solana:hntyVP6YFm1Hg25TN9WGLqM12b8TQmcknKrdu1oxWux deflationary.

@helium_mobile validated this use case, attracting the biggest players in telecommunications.

Through @AndrewYang 's acquisition, Helium Mobile shifts from a native service provider to an offloader just like AT&T and T-Mobile.

This puts both teams in a position to focus on what they do best, affordable consumer facing mobile services for
@joinnoblemobile, and highly scalable industry ready DePIN for Helium.

[Greg @big_rocks_first]

@abhay @helium Respect

[Greg @big_rocks_first]

@MrxFlip @GoingParabolic Grok is correct that the wash sale rules explicitly only apply to securities, which most crypto is not, but the 3rd grok bullet of economic substance doctrine applies, which has a 20%-40% penalty. Don't ignore that bullet. It's what really applies.

[Greg @big_rocks_first]

@DePhiCapital @GoingParabolic Ignoring the transaction fees, it's still retaining it by buying it back. It's only shifting TAX basis/gain to different tax years when finally sold. There are LOTS of situations where that makes a big TAX difference, for folks that understand taxes are an incentive system

[Greg @big_rocks_first]

@GoingParabolic For anyone using a CeX, the 1099-DA potentially increases the odds that the IRS can identify and pursue economic substance for those claiming large losses.

[Greg @big_rocks_first]

@GoingParabolic Be aware that if the IRS applies the economic substance doctrine, the capital loss is disallowed, AND, there's I believe a non-waivable accuracy penalty of 20% to 40%. This is why many tax pros still recommend waiting to buy back a couple of days to establish economic substance

[Greg @big_rocks_first]

@GoingParabolic I'm not saying people can't/shouldn't harvest the loss, I'm just saying it's a wider risk-management decision than it's presented by most people, and people are served if they understand the risk tradeoffs with eyes wide open. The risk is probably negligible for most, but not all

[Greg @big_rocks_first]

@GoingParabolic Although wash sale rules don't apply, the economic substance doctrine still applies. Wash sale rules just creates a safe harbor implementation of that doctrine for just securities. Absence of that safe harbor for property doesn't assure IRS can't apply economic substance doctrine

[Greg @big_rocks_first]

@LynAldenContact

[Greg @big_rocks_first]

@tyromper I get a sense of longing seeing footage like that. I did a multiday self-sufficient footrace in the Sahara years ago (avg ~marathon a day for 6 days wearing ~20lb pack, but long day was 40+ miles) & it was transformational. Enough miles in the desert can remove one's ceiling