While I appreciate Bitcoin’s HODL culture and what it may mean for individuals in the future who HODL only, I do agree and think BTC is meant to be spent. I believe a Bitcoin circular economy can’t happen unless we do that now.
😲 Alpaca Socks Bought with Bitcoin Cost approx. $5 Million in today's money.
💰Spending in Bitcoin is important to advance the network.
🧡 Just make sure you replace the Bitcoin you use if possible. #Bitcoin #FinancialFreedom https://video.nostr.build/2fc70ad4b86e0b57085af8a6f9b615210f394458661747b0a9a421910fa7a336.mp4
Discussion
Yes I agree ✅
Only issue I have with spending my bitcoin is the capital gains tax I have to pay.
Any bitcoin I spend, I can buy back in my dca. The more bitcoin I spend, the more cash I have left at the end of the month to buy more bitcoin. So I can top up on even more Bitcoin if I have the money. So I can always hodl and spend my bitcoin at the same time.
So I don't think hodl is the issue, it's the tax. The tax makes me stop and think do I really want to pay an extra 20% on what I'm buying.
I hadn’t thought of the tax aspect of it. Something to consider for sure. Thank you for reminding me of that.