Rabbit Hole Recap RABBIT HOLE RECAP #400: COINBASE FIGHTS BITCOIN
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Mar 12, 2026 Allegations that a major exchange lobbied against a Bitcoin tax exemption and fierce debate over its priorities. New Coldcard Mk5 wallet and recent Bitcoin dev updates are highlighted. U.S. Treasury shifts on crypto mixers and a high-profile retrial raise privacy and legal concerns. Turkey cracks down on unregistered currency exchanges while NATO tests tiny spy drones and Bitcoin-paid arcade gaming gets a spotlight.
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Draw A Red Line To Win Better Crypto Legislation
- Use clear red lines in negotiations to force concessions rather than passively accepting bad deals.
- Marty recommends adopting Brian Armstrong's tactic of preferring no bill over a harmful bill to extract better terms on crypto legislation.
Capital Gains Tax On Bitcoin Is A Tax On Savings
- Capital gains taxation on Bitcoin spending functions like a tax on savings and incentivizes surveillance to enforce it.
- Marty and Odell linked de minimis relief with improved financial privacy and reduced surveillance burdens for citizens.
Coldcard Mk5 Released With Bigger Screen And Keyboard
- Coldcard released the Mk5 hardware wallet with bigger screen, keyboard, faster NFC, and Gorilla Glass while maintaining Q-level security.
- Marty described personal experience with the Mk5 design, form-factor tradeoffs, and passphrase-friendly keyboard.