But if one still has fiat to spend is one accumulating as much as possible?
Even if you’re not on a bitcoin standard it makes more sense to use sats at businesses that accept it. It’s just better tech and user experience. Turn the fiat to sats right before the txn if you’re concerned about volatility
I don’t know one place that accepts BTC around me. Not one. I ask and would use BTC but that’s kind of my point. It’s just not a viable MOE yet. At least in the US. And that’s fine. It’s not there yet. So I’ll spend local currency (USD), some of which I may or may not have sold some BTC to obtain.
I was mainly alluding to online purchases, but it is still very difficult to find brick and mortar businesses that take bitcoin. You can buy gift cards on bitrefill but that can be a hassle.
That would mean less sats for me in the long run ... Pay from fiat = no capital gains, pay from corn means every major transaction taxed more which means less left over to hold?
The tax is on the gain, so unless the tax rate is 100% you will come ahead if there was a gain. But yeah taxable events are a major hurdle preventing ppl from spending bitcoin. Strike lets you pay LN invoices with your fiat balance, which I think is a win win. You don’t have a taxable event and the merchant is able to receive sats directly for goods and services
Big fan of the strike workaround and I use it where I can 😁
