You pay US federal taxes with bitcoin? Can you walk me through that process?
Discussion
#ecash, taxes paid, money made
Easier close really.
No. You are converting to dollars before you pay.
Do tax return > select payment > use Strike Bill pay
Strike will auto convert my BTC to pay that bill
So you covert your bitcoin to dollars. You use dollars. You are not on a bitcoin standard…by your criteria at least
I don't own any dollars is how I see it
I’ve heard the nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle pitch. You’re missing my point. The only difference between that and keeping a month worth of bills in cash is when you convert the money over. We both have the same end goal of having more bitcoin. Hence a Bitcoin standard.
Additionally, all the fiat I use gets me Bitcoin rewards. Mortgage paid in fiat - 1.5% back in bitcoin. All other bills on a credit card (2% cash back used to buy bitcoin), paid off in fiat - 1.5% back in bitcoin.
LARP all you want but your paycheck hitting at $108k and your rent coming out at $95k is a L
To clarify, I fucking love nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle but o think the flaw in this logic is that bitcoins is down more days than its up. It’s up days just outweigh the down days. That’s why we’re at 100k. But on a week to week/month to month level I don’t want the volatility of my bills swinging up 20%.
We’re all traders 🤷♂️
I also get Bitcoin back on my purchases. For me the hassle of having to manage cash to have enough to pay bills and keep an eye on a regular basis is not worth my time.
And Bitcoin goes up on average, so yeah there could be instances when it's down, but Bitcoin is fungible, why would you say you're selling the one you just bought? Why not the one you bought 5 years ago. But on average I come out ahead.
I think it's good that different method suit different people