It's not taxes of crypto vs fiat. It's capital gains vs income. And paying a tax professional who will go through all the crypto transactions as the government requires at this point. It's not as simple as a P&L. This costs money, extra money in a time where although there is much printing of it, seems to be little to go around. Also thinking of keeping my business off the radar of the government. Any mistakes in business accounting (btc just adds another vector for me) could be catastrophic. I'm not running a million dollar Corp or a store front. It's a small service business that doesn't have the capital for making sure all these boxes get check when introducing a new form vector for mistakes.
This will likely become easier in the years to come, as have most aspects of the ecosystem, but we aren't there yet. Holding BTC in my business is not the same as having btc in my cold storage for personal use.
You risk nothing by using bitcoin to by goods and services. I risk putting food on the table for my child by accepting it. Also, if your rebuttal is you run a business and accept it, great, we're not all in a situation where it is as practical.
I want Bitcoin to succeed too. I stack sats just like the next guy. And at some point I hope to accept it in my business. But it's not there yet for me.
If your asking for points to hit. I gave you two. I would only add that if this is your pitch, you've got a long way to go.
bitcoinforthepeople / Publius
npub1jm…5fe3x
2023-03-26 15:47:01
in reply to nevent1q…el2p
Author Public Key
npub1jmyv7ekdv2n04fyvq3f3drznpvth9r2vf5hwqcya5cflde4hrqgsd5fe3xPublished at
2023-03-26 15:47:01Event JSON
{
"id": "5a34d6b5398dc6af07aeee380929fa67a36595b01b9f60fce526c4ae0d7f1ed7",
"pubkey": "96c8cf66cd62a6faa48c0453168c530b17728d4c4d2ee0609da613f6e6b71811",
"created_at": 1679845621,
"kind": 1,
"tags": [
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"content": "It's not taxes of crypto vs fiat. It's capital gains vs income. And paying a tax professional who will go through all the crypto transactions as the government requires at this point. It's not as simple as a P\u0026L. This costs money, extra money in a time where although there is much printing of it, seems to be little to go around. Also thinking of keeping my business off the radar of the government. Any mistakes in business accounting (btc just adds another vector for me) could be catastrophic. I'm not running a million dollar Corp or a store front. It's a small service business that doesn't have the capital for making sure all these boxes get check when introducing a new form vector for mistakes. \n\nThis will likely become easier in the years to come, as have most aspects of the ecosystem, but we aren't there yet. Holding BTC in my business is not the same as having btc in my cold storage for personal use. \n\nYou risk nothing by using bitcoin to by goods and services. I risk putting food on the table for my child by accepting it. Also, if your rebuttal is you run a business and accept it, great, we're not all in a situation where it is as practical.\n\nI want Bitcoin to succeed too. I stack sats just like the next guy. And at some point I hope to accept it in my business. But it's not there yet for me. \n\nIf your asking for points to hit. I gave you two. I would only add that if this is your pitch, you've got a long way to go.",
"sig": "6c81e8a1ed0fd2f4010f52e8eca3b263827188d39ee516a3436d6e3f8c9af9b9888fcac8efc2ef1208a547a5e0bd3ff2e67b6c043f5faa2c6ed9b33227f60d97"
}