In the US at least you're technically required to calculate capital gains on *everything* you purchase with Bitcoin. $4 cup of coffee, $20 book, $50 meal... IRS expects you to break out the spreadsheet and calculate FIFO/LIFO basis on every single purchase.
Can you imagine doing that for a *full years* worth of purchases? This, to me, is problem #1 for mass adoption.
Globe99
npub147…paq44
2025-04-01 02:12:33
in reply to nevent1q…u7aj
Author Public Key
npub147fp2j606qpfysp38phhzvempt7ewsdqwm6uww9uycp6tdvavu0s5paq44Published at
2025-04-01 02:12:33Event JSON
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"created_at": 1743473553,
"kind": 1,
"tags": [
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[
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"content": "In the US at least you're technically required to calculate capital gains on *everything* you purchase with Bitcoin. $4 cup of coffee, $20 book, $50 meal... IRS expects you to break out the spreadsheet and calculate FIFO/LIFO basis on every single purchase.\n\nCan you imagine doing that for a *full years* worth of purchases? This, to me, is problem #1 for mass adoption.",
"sig": "986139186d8fec06cc9ebf9afbf96a5307778c9875b5964b3641deb1eb1dfecf1321c60f294e6283a0083d4e4b410de0e16e05b1412564a5c6f4f4ea1c308887"
}