The problem with any transaction (on-chain, lightning, or other layers) is we go back to the same taxable event.
I buy a cup of coffee with lightning or liquid and it’s a taxable event.
Maybe a bill gets passed waiving transactions less than $10K (or w/e is reasonable) per year from being taxed. That would be insanely positive. Ideally no limits but not holding my breath.
What would be cool, and maybe you know if this exists or not, is having a lightning wallet that smash buys BTC/lightning at the same moment you make the purchase. Only downside is you need a bank account to fund the purchase with fiat unless there’s some other way to do it. I thought about this a few years ago. Vendor still has the same issue though.
For example, I walk into a coffee shop and order a cold brew and we scan the lightning invoice for 8,000 sats (approx $5). The lightning wallet immediately buys the equivalent amount of lightning/BTC resulting in no taxable event for the user since there was no cap gain or loss (bought and sold for the same price). I’m ignoring fees but maybe the wallet can charge a flat subscription fee instead of a service charge/fee per transaction to truly be a no tax event.
Are you a developer? Let’s work on this! Haha
tonycarrera / Tony Carrera
npub15m…8zz9n
2024-07-03 02:50:40
in reply to nevent1q…2cvw
Author Public Key
npub15mwtfq0va0l93srv3eyv3s00az2hr32e5phymaw2nz7mzyymz30sl8zz9nPublished at
2024-07-03 02:50:40Event JSON
{
"id": "ef6780e2912200c25116d5d7fcc9f5d4c22dd3ec6f49c9a752c8cdeef4c33f61",
"pubkey": "a6dcb481ecebfe58c06c8e48c8c1efe89571c559a06e4df5ca98bdb1109b145f",
"created_at": 1719975040,
"kind": 1,
"tags": [
[
"e",
"98e737d3395125ed2c848b2d12e28a07e546ccf32d9e5809823f56511f284761",
"wss://nos.lol",
"root"
],
[
"e",
"59acf891214c8a97ff85aaa5b2acc14e1fe801a7f9b921a372cc39710888a621",
"",
"reply"
],
[
"p",
"af9c48b738d9891640bcace193befdf4ed82357e135193ff05458ed6a3f7aaf4"
]
],
"content": "The problem with any transaction (on-chain, lightning, or other layers) is we go back to the same taxable event.\n\nI buy a cup of coffee with lightning or liquid and it’s a taxable event.\n\nMaybe a bill gets passed waiving transactions less than $10K (or w/e is reasonable) per year from being taxed. That would be insanely positive. Ideally no limits but not holding my breath.\n\nWhat would be cool, and maybe you know if this exists or not, is having a lightning wallet that smash buys BTC/lightning at the same moment you make the purchase. Only downside is you need a bank account to fund the purchase with fiat unless there’s some other way to do it. I thought about this a few years ago. Vendor still has the same issue though.\n\nFor example, I walk into a coffee shop and order a cold brew and we scan the lightning invoice for 8,000 sats (approx $5). The lightning wallet immediately buys the equivalent amount of lightning/BTC resulting in no taxable event for the user since there was no cap gain or loss (bought and sold for the same price). I’m ignoring fees but maybe the wallet can charge a flat subscription fee instead of a service charge/fee per transaction to truly be a no tax event.\n\nAre you a developer? Let’s work on this! Haha",
"sig": "a7cd63a216595eb2df3192841b168d9645d1f390200bbb0ac58670ab6dfe516a8231155954e025621793b4eaa741800d6bd79fdccfaf32f5193f0b63f51c2071"
}