I'm not joking, in Australia the tax "filing" takes like 2 mins, you literally go, next, next, look at the details, "yep looks correct" put in your claims, and then submit.
You are all done.
Unless you have something wack going on its not even a process. I have had signups which are more complicated then it.
American taxes on the other hand mega suck, and have 9000 pitfalls.
Finland doesn't even ask you to approve. They send you a suggestion and if you do not amend it by deadline they take it as it is.
And amending is online form where everything is clearly explained, links to documentation. And longest time it takes is actually to look up numbers from your own records.
In the US, property tax typically works that way for many people. You get something in the mail that says this is what your tax will be. If you happen to have a loan for your house, the bank in charge of your loan handles it.
The only opposing political argument I've heard is that if income taxes were this simple, many people would be overpaying. I think that argument has many obvious flaws. Unfortunately few US citizens demand anything of their politicians on this topic or other topics that would dramatically improve their lives. Instead they care more about vanity topics that don't even effect them.
Why would I want a perp on BTC when I can just buy the coin? The example quoted the price of the perp as (close to) the same as the price of BTC, so if I'm not getting leverage why not just buy the coin and avoid counterparty risk?
If the goal is just to buy and hold, then you wouldn't use perps, not only because of counterparty risk but also because the funding rate is typically positive, meaning you pay (usually ~10% APR) to be long.
The point of perps is:
- Easy access to leverage. Unlike options or futures, there's no need to roll over.
- It's the easiest way to short a coin. Most of the time you even get paid the funding rate to be short.
- Trading fees are typically much lower than for spot.
- Volume and liquidity can be better for perps than for spot. The BTC/USDT perp did 10x the volume of the spot pair in the last 24h on Binance.
Because the exchanges offer 20x leverage on perps but not on spot. In theory perps can have deeper liquidity because they can go beyond the 21M BTC limit. If you don't care about those factors then you shouldn't trade perps; they aren't intended to be magically superior to spot.
You want to buy bitcoin to be a bitcoin investor. But if you want to actively trade, both buy and sell, futures offer much more capital efficient solution. With leverage, you can make larger trades with less money.
A perp is a future which is different from buying BTC at its spot price. If you remove the "perpetual" aspect of the future and it was a regular future that was settling soon, likewise it would be similar in price but not the same as the underlying. There's lots of uses for futures and they're often used as hedges against various forms of risk, like currency risk.
The biggest issue in the post is "creates direct links between supply and demand". One of the more important things to do as a manager is sit in hours of meetings so your reports can get a fifteen minute synopsis about the decisions made. And represent your reports in those meetings.
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