Interesting bit of information I picked up traveling ...
A few merchants I talked to about payments in #Bitcoin & #Lightning told me they would, but don't want to deal with capital gains tax headache.
🤔
Discussion
Would love to see more discussion on this topic.
As would I.
It's the giant elephant in the room nobody seems to be talking about...
It's a huge barrier and also they are suppliers. Whoever they buy their stock from probably doesn't accept Bitcoin, so they would need to convert it to cash.
Yes, they would need to convert what they need for accounts payable (AP) instantly for (zero) 0 capital gains. Then only a % of profits not getting converted, but then thoses are in the books for capital gains later.
It's not reallyworkable currently in many places.