site banner
PaperclipPerfector  1yr ago (text post)   5473 thread views

Small-Scale Question Sunday for September 24, 2023

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

3
Top Bottom Old Controversial Comments
Jump in the discussion.

No email address required.

So, I think it is evident that there exist situations where I could create, then donate, an art piece worth $5MM, without being able to create and sell the piece for anywhere near as much.

If it is ever challenged by the IRS, you will need to make an affirmative case that the value has been increased, not only that there exist situations where it is possible. The price you would be able to sell for is literally the definition of fair value the IRS uses.

Is oil's fair market value determined by what someone would pay for all the oil in the world?

The value if you donate $5MM, marked to last trade or mid, worth of oil futures is very close to $5MM, close enough that you can probably claim the full $5MM. The true market value is close to but less than $5MM. This is because the oil futures are fungible and the market is very liquid, with literally trillions of dollars of notional value changing hands regularly. If you think you can regularly move $5MM of oil futures with literally zero transaction cost to arrival you should go become the worlds best market maker, you have discovered an infinite money glitch. What you are proposing is moving millions of dollars of notional value in market with a few tens of millions of dollars average daily notional volume where each product is non-fungible. Your price impact will be greater.

They're certainly not securities, no matter how much the SEC wants them to be.

Surprisingly the SEC hasn't taken a strong stance on if NFT's are securities, but certainly is way to strong of a statment though since the existing case law contradicts you. It also doesn't change the criminality because of the fact that any artifice to manipulate a price done by computer is still wire fraud even if it is not securities fraud.

The "blue chip" NFTs, let's say the top 10, are like 80% of the total NFT market cap.

There is literally a section titled "The Current State of the Top NFT Assets." If you have the ability to consistently create some of the top valued NFTs you have a very valuable skill, running a tax scheme is arguably a very high risk way of monetizing that skill, but it shouldn't be surprising that there is some way to extract value from that ability.

What is this place?

This website is a place for people who want to move past shady thinking and test their ideas in a court of people who don't all share the same biases. Our goal is to optimize for light, not heat; this is a group effort, and all commentators are asked to do their part.

The weekly Culture War threads host the most controversial topics and are the most visible aspect of The Motte. However, many other topics are appropriate here. We encourage people to post anything related to science, politics, or philosophy; if in doubt, post!

Check out The Vault for an archive of old quality posts. You are encouraged to crosspost these elsewhere.


Why are you called The Motte?

A motte is a stone keep on a raised earthwork common in early medieval fortifications. More pertinently, it's an element in a rhetorical move called a "Motte-and-Bailey", originally identified by philosopher Nicholas Shackel. It describes the tendency in discourse for people to move from a controversial but high value claim to a defensible but less exciting one upon any resistance to the former. He likens this to the medieval fortification, where a desirable land (the bailey) is abandoned when in danger for the more easily defended motte. In Shackel's words, "The Motte represents the defensible but undesired propositions to which one retreats when hard pressed."

On The Motte, always attempt to remain inside your defensible territory, even if you are not being pressed.


New post guidelines

If you're posting something that isn't related to the culture war, we encourage you to post a thread for it. A submission statement is highly appreciated, but isn't necessary for text posts or links to largely-text posts such as blogs or news articles; if we're unsure of the value of your post, we might remove it until you add a submission statement. A submission statement is required for non-text sources (videos, podcasts, images).

Culture war posts go in the culture war thread; all links must either include a submission statement or significant commentary. Bare links without those will be removed.

If in doubt, please post it!


Rules


Recommended Posts And Communities

Recommended Realtime Chats