Thoughts on using strike (npub1ex7…vyt9) more in day-to-day use in the States.
I’d love to spend (+ replace) Bitcoin wherever possible. Not just to facilitate adoption, but also to reduce the “normalized invasion of privacy” over fiat networks. This can be achieved using prepaid debit cards, purchased with Bitcoin from a service like Strike.
However, in USA, every single sell/spent UTXO is a taxable event, which includes (to my knowledge) small spends.
How can we utilize Bitcoin conveniently, without needing to deal with the minutiae of what amounts to a “buy + immediate sell” order, from a tax perspective?
My understanding is you have to report every sell order, even if there are no capital gains… right? How do Bitcoin businesses do it? How to stay within legal parameters and not end up with a migraine?
nostr:jack mallers (npub1cn4…3vle) any thoughts you have re: how to make the strike user’s experience more “tax convenient” would be appreciated 🙏🤙
bostonwine / boston wine
npub14q…e2q26
2023-07-14 03:20:40
Author Public Key
npub14qz92uedt0a8jte8jqg63jr3s5cc99cej36jh883z6tprlu354uqqe2q26Published at
2023-07-14 03:20:40Event JSON
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"pubkey": "a80455732d5bfa792f279011a8c871853182971994752b9cf1169611ff91a578",
"created_at": 1689304840,
"kind": 1,
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"content": "Thoughts on using nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 more in day-to-day use in the States.\n\nI’d love to spend (+ replace) Bitcoin wherever possible. Not just to facilitate adoption, but also to reduce the “normalized invasion of privacy” over fiat networks. This can be achieved using prepaid debit cards, purchased with Bitcoin from a service like Strike.\n\nHowever, in USA, every single sell/spent UTXO is a taxable event, which includes (to my knowledge) small spends.\n\nHow can we utilize Bitcoin conveniently, without needing to deal with the minutiae of what amounts to a “buy + immediate sell” order, from a tax perspective?\n\nMy understanding is you have to report every sell order, even if there are no capital gains… right? How do Bitcoin businesses do it? How to stay within legal parameters and not end up with a migraine?\n\nnostr:nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle any thoughts you have re: how to make the strike user’s experience more “tax convenient” would be appreciated 🙏🤙",
"sig": "2af0d9f8a8a8bf79b71417ebed70f0bedf197c511ce29c7907a2953c6b45993fdad9de0bd1bc62f30ad71fc2cd47322572a622d67d05176f880c5cd8e6454592"
}