Big Technology Podcast Doge, Bitcoin, NFTs, and Capital Gains: Ranjan Roy and Can Duruk of Margins Demystify Our Economy
Apr 28, 2021
Ranjan Roy and Can Duruk, co-authors of Margins, dive into the chaotic world of cryptocurrency and NFTs. They discuss how Dogecoin is creating new millionaires while the market's volatility keeps investors on edge. The duo explores the moral dilemmas of profiting from critiqued systems and the sustainability of the NFT boom. They also evaluate the implications of Biden's proposed capital gains tax and compare economic realities between the U.S. and Turkey, highlighting growing inequalities and the need for systemic reforms.
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Capital Gains Tax & Speculation
- The Biden administration's proposed capital gains tax increase could curb speculative investments.
- This is because investors may be less inclined to hold onto assets if they face a higher tax burden upon selling.
Profit-Taking in a Bull Market
- Current market investors struggle with taking profits because consistent gains have made it unnecessary.
- This lack of profit-taking, combined with platforms marketing democratized finance as risk-free, creates a dangerous dynamic.
Dogecoin's Rise
- Dogecoin, a cryptocurrency created as a joke, has seen astronomical price increases.
- Despite its intended nature, Dogecoin has become a vehicle for speculation and profit, mirroring Bitcoin's trajectory.