Have you heard the buzz about Citizen X? This tech-savvy Citizenship by Investment (CBI) company based in Switzerland is making waves in the industry. With the recent merger with Plan B Passport, led by Katie "The Russian" Ananina, Citizen X is reshaping the way Bitcoiners approach passport diversification.
The Rise of the Sovereign Individual Movement
Empowering Individuals in a Decentralizing World
Let's dive into the Sovereign Individual thesis. Originally published in 1997, this book has become a cornerstone of Bitcoin culture. It envisions a future where individuals hold more power than nation-states, thanks to technological advancements like digital cash and the internet.
- Decentralization of political power
- Competition between governments for high-value talent
- A shift towards a consumer-to-service-provider relationship with governments
Challenges Faced by Bitcoiners
The Struggle for Recognition and Acceptance
Bitcoiners have long faced challenges in getting their wealth recognized for citizenship. Traditional processes require financial statements and proof of funds, which Bitcoiners often struggle to provide. The lack of recognition from legacy systems has created a gap in the market that Citizen X aims to fill.
Innovative Solutions for Bitcoiners
Addressing Privacy Risks and Knowledge Gaps
Plan B Passport has developed innovative solutions to bridge the gap between Bitcoiners and traditional CBI processes. By leveraging cryptographic proof and institutional partnerships, Bitcoiners can now satisfy proof of funds requirements in a secure and efficient manner.
- Building relationships with government officials in CBI jurisdictions
- Utilizing cryptographic proof to demonstrate ownership of Bitcoin
- Empowering Bitcoiners to navigate the CBI landscape with confidence
The Future of Citizenship By Investment
Empowering Bitcoiners to Shape Their Future
With the merger of Citizen X and Plan B Passport, new opportunities are on the horizon. By advocating for policy changes and launching education initiatives, Katie and her team are paving the way for Bitcoiners to access citizenship and residency programs with ease.
Join us on this journey towards a future where individuals have the power to choose their path and shape their destiny. Embrace the possibilities that Citizen X and Plan B Passport offer, and unlock a world of opportunities in the evolving landscape of citizenship by investment.
Frequently Asked Questions
Should You Buy Gold?
In the past, gold was considered a haven for investors during economic turmoil. However, today many people are turning away from traditional investments such as stocks and bonds and instead looking toward precious metals such as gold.
The trend for gold prices has been upward in recent years but they still remain low relative to other commodities like silver and oil.
Some experts think that this could change in the near future. Experts predict that gold prices will rise sharply in the wake of another global financial collapse.
They also noted that gold is growing in popularity because of its perceived value as well as potential return.
These are some important things to remember if your goal is to invest in gold.
- Consider whether you will actually need the money that you are saving for retirement. It's possible to save for retirement without putting your savings into gold. That said, gold does provide an additional layer of protection when you reach retirement age.
- Second, you need to be clear about what you are buying before you decide to buy gold. Each offers varying levels of flexibility and security.
- Finally, remember that gold doesn't offer the same level of safety as a bank account. It is possible to lose your gold coins.
Do your research before you buy gold. Protect your gold if you already have it.
Are gold investments a good idea for an IRA?
Gold is an excellent investment for any person who wants to save money. It can be used to diversify your portfolio. There's more to gold that meets the eye.
It has been used throughout the history of currency and remains a popular payment method. It is sometimes called the “oldest currency in the world”.
Gold, unlike other paper currencies created by governments is mined directly from the earth. It's hard to find and very rare, making it extremely valuable.
The supply and demand for gold determine the price of gold. People tend to spend more when the economy is healthy, which means that fewer people are able to mine gold. As a result, the value of gold goes up.
On the flipside, people may save cash rather than spend it when the economy slows. This results in more gold being produced, which drives down its value.
This is why both individuals as well as businesses can benefit from investing in gold. If you invest in gold, you'll benefit whenever the economy grows.
Additionally, you'll earn interest on your investments which will help you grow your wealth. Plus, you won't lose money if the value of gold drops.
Is buying gold a good retirement plan?
While buying gold as an investment may seem unattractive at first glance it becomes worth the effort when you consider how much gold is consumed worldwide each year.
The best form of investing is physical bullion, which is the most widely used. But there are many other options for investing in gold. The best thing to do is research all options thoroughly and then make an informed decision based on what you want from your investments.
If you don’t need a safe place for your wealth, then buying shares of mining companies or companies that extract it might be a better alternative. If you need cash flow to finance your investment, then gold stocks could be a good option.
ETFs allow you to invest in exchange-traded funds. These funds give you exposure, but not actual gold, by investing in gold-related securities. These ETFs may include stocks that are owned by gold miners or precious metals refining companies as well as commodity trading firms.
How do you withdraw from an IRA that holds precious metals?
First, decide if it is possible to withdraw funds from an IRA. You should also ensure that you have enough money to cover any fees and penalties associated with withdrawing funds.
If you are willing to pay a penalty for early withdrawal, you should consider opening a taxable brokerage account instead of an IRA. This option is also available if you are willing to pay taxes on the amount you withdraw.
Next, determine how much money you plan to withdraw from your IRA. This calculation will depend on many factors including your age at the time of withdrawal, how long the account has been in your possession, and whether you plan to continue contributing towards your retirement plan.
Once you have an idea of the amount of your total savings you wish to convert into cash you will need to decide what type of IRA you want. Traditional IRAs permit you to withdraw your funds tax-free once you turn 59 1/2. Roth IRAs have income taxes upfront, but you can access the earnings later on without paying additional taxes.
Once these calculations have been completed you will need to open an account with a brokerage. Many brokers offer signup bonuses or other promotions to encourage people to open accounts. Avoid unnecessary fees by opening an account with your debit card, rather than your credit card.
When it comes time to withdraw your precious metal IRA funds, you will need a safe location where you can keep your coins. Some storage areas will accept bullion, while others require you to purchase individual coins. Before you choose one, weigh the pros and cons.
Bullion bars, for example, require less space as you're not dealing with individual coins. But you will have to count each coin separately. However, individual coins can be stored to make it easy to track their value.
Some prefer to keep their money in a vault. Others prefer to store them in a safe deposit box. Whichever method you choose, make sure you store your bullion safely so you can enjoy its benefits for years to come.
Statistics
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
External Links
bbb.org
cftc.gov
investopedia.com
law.cornell.edu
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement accounts
How To
A rising trend in gold IRAs
Investors seek diversification and protection against inflation by using gold IRAs.
Owners can invest in gold bars and bullion with the gold IRA. It can be used as a tax-free way to grow and it is an alternative investment option for people who are not comfortable with stocks or bonds.
A gold IRA allows investors the freedom to manage their wealth without worrying about volatility in the markets. Investors can use the gold IRA for protection against inflation and potential problems.
Investors also get the unique benefits of owning physical Gold, including its durability, portability, flexibility, and divisibility.
In addition, the gold IRA offers several other advantages, including the ability to quickly transfer ownership of the gold to heirs and the fact that the IRS does not consider gold a currency or a commodity.
Investors looking for financial security are increasingly turning to the gold IRA.
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By: Juan Galt
Title: Citizenship By Investment: How Citizen X is Revolutionizing Passport Diversification for Bitcoiners
Sourced From: bitcoinmagazine.com/news/citizenship-by-investment-the-emerging-market-for-state-services-via-citizen-x
Published Date: Mon, 28 Apr 2025 14:11:00 +0000
