TSCN#123: Independence Day Special: Secure Your Freedom with Self-Custody
This Fourth of July, Learn How to Take Control of Your Food and Money for True Independence
As we begin to celebrate Independence Day, it’s the perfect time to reflect on what freedom truly means. This newsletter explores self-custody—empowering us to control our most vital resources: food and money. With financial and food sovereignty under threat, understanding and practicing self-custody is more crucial than ever.
We highlight the Satoshi Action Fund’s success in passing state legislation to protect Bitcoin self-custody and the Beef Initiative’s KYC: Know Your Cow initiative, promoting direct relationships with local ranchers. We also address the tax implications of using Bitcoin, which can trap the uninitiated. By raising awareness and advocating for change, we aim to protect our financial and food freedoms.
Self-Custody of Money: The Work of Satoshi Action Fund
The Satoshi Action Fund has been at the forefront of advocating for the right to self-custody our money. Their efforts have led to the passage of landmark state legislation that protects Bitcoin users' rights. Recently, Oklahoma passed the 'Bitcoin Rights' bill, which ensures the right to self-custody digital assets, engage in Bitcoin transactions without additional tax burdens, and mine Bitcoin without undue interference.
Louisiana followed suit by passing a bill that defends Bitcoin rights and bans Central Bank Digital Currencies (CBDCs). These legislative victories mark significant milestones in the fight for financial autonomy, setting a national precedent and highlighting the importance of self-custody in maintaining economic freedom.
Learn more about Satoshi Action Fund's groundbreaking work here.
Self-Custody of Food: The Beef Initiative’s KYC – Know Your Cow
In a world increasingly dominated by corporate control and surveillance, the Beef Initiative offers a refreshing approach to food sovereignty. Instead of the typical KYC (Know Your Customer) requirements, we champion our own KYC: Know Your Cow. How? By shaking your rancher’s hand through the gates of the Beef Initiative.
Breeauna Sagdal's article on Beef News makes a compelling case for the self-custody of food through regenerative agriculture and microprocessing centers. She emphasizes the importance of understanding where your food comes from, the practices involved in its production, and the people who dedicate their lives to this essential work. By fostering direct relationships between consumers and producers, the Beef Initiative ensures that you are consuming verifiably nutritious, real food.
Read Breeauna Sagdal's full article here.
The Hidden Trap: IRS Tax Code and Bitcoin
One critical issue that remains under-discussed is the IRS tax code's impact on Bitcoin transactions, particularly the short-term capital gains tax, which ranges from 10% to 37% depending on your income bracket. This tax code treats Bitcoin as property rather than currency, meaning any increase in Bitcoin's value from the time of purchase to the time of spending is subject to this tax. Additionally, transferring Bitcoin between wallets can trigger tax implications if you cannot prove ownership of both wallets, further complicating the use of Bitcoin as a medium of exchange.
For those unfamiliar with the intricacies of cryptocurrency taxation, these rules can feel like a trap. Imagine making a simple purchase or paying a friend in Bitcoin for dinner, only to face a significant tax bill at the end of the year. This scenario discourages the use of Bitcoin as a medium of exchange, undermining its potential as a transformative financial tool. Dennis Porter and the Satoshi Action Fund are among the few raising awareness about this issue, advocating for Bitcoin to be treated as money, free from these punitive tax measures.
This legislative oversight places a substantial burden on everyday users and stifles innovation. By addressing this issue, we can move towards a financial system that truly recognizes and integrates Bitcoin as a viable form of money.
Why Self-Custody Matters
Self-custody of both money and food is about reclaiming our independence and ensuring our sovereignty. When you and your community control your own resources, you are no longer at the mercy of external entities that may not have your best interests at heart. Here’s why it matters:
Transparency and Trust: Knowing your rancher and understanding the origins of your food ensures transparency and builds trust.
Quality and Nutrition: Self-custody allows you to choose high-quality, nutritious food produced through sustainable practices.
Economic Freedom: Managing your own money without intermediaries safeguards your financial freedom and autonomy.
Resilience and Security: By decentralizing control, self-custody enhances your resilience against systemic failures and external threats.
Embracing American Values
The concept of self-custody is deeply rooted in the values that define us as Americans: independence, integrity, and resilience. As we celebrate Independence Day, it is crucial to reflect on these principles and how they manifest in our daily lives. Self-custody is more than just a financial or agricultural practice; it is a commitment to maintaining the autonomy and freedom that our nation was built upon.
By embracing self-custody, we honor the legacy of those who fought for our freedom and ensure that we continue to uphold the values that make our country strong. This Independence Day, let’s commit to self-custody—of our food, our money, and our freedom.
Join us at the Cattleman’s Feast in Nashville to learn more about these critical issues and meet the leaders advocating for our rights. Secure your spot today and be part of the movement towards true independence.
Calls to Action
1. Support Our Cause
Rally Behind The Beef Initiative
The Beef Initiative and the I Am Texas Slim Foundation, a 501(c)(3) organization, stands at the forefront of a movement, committed to educating and empowering the next generation of regenerative ranchers. Your support is crucial in this endeavor. By donating, you're not just contributing financially; you're investing in the future of our planet. Join us in this vital mission and be part of the change we all wish to see.
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2. Affiliate Links
Captain Sidd's American Heartland Tour 2024
Retrace a piece of Captain Sidd’s journey across America on the Ride of Passage American Heartland Tour, a thrilling 8-day motorcycle trip through the American Midwest. Dive into thriving Bitcoin meetups, uncover the powerful link between sound money and nutrition, and explore the stories of those shaping a new frontier in health and freedom. Follow this journey and be inspired by the quest to rejuvenate America, one handshake at a time. To learn more visit the event page at https://www.rideofpassage.live/american-heartland-tour or by clicking the image below.
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Our Commitment
At TBIAC, our mission is to deliver unparalleled data-driven insights to micro-processing facilities, both in Texas and nationwide. Guided by unwavering integrity, we rely on verifiable results as we collaborate to nourish local communities sustainably. Your partnership is our strength—let's build a better future from the inside out
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Connect: Reach out to us at info@beefinitiative.com to get started.