Not really, you still gotta pay capital gains taxes cause Strike reports it as a sale to the IRS

Reply to this note

Please Login to reply.

Discussion

Yeah, but I've been doinf that anyway. I used the Strike API with BTCpayServer to convert my sats to cuck bucks. Then I sent the cuck bucks to bank of America to pay my credit cards.

I am morally opposed to the fractional reserve banking system so my goal is to exit that system. Paying bills with bitcoin makes that easier.

Cap gains suck, but I only need to pay if bitcoin is up that month and they only tax the gains.

If I keep money in the bank for a year, the government takes a *no gains tax* called inflation on 100% of the money. They say it's like 2.6%, but it's really like 12%.

So I ran the numbers. I spend less in taxes if I live on a bitcoin standard.