I use nostr:nprofile1qqsvn0dkjt80raqrxd470c98n7zrdehmcvj6p5hgw3kyku6zyd8z0fqpp4mhxue69uhkummn9ekx7mqpzpmhxue69uhkummnw3ezuamfdejsfkw85c to convert 100% of my paycheck to bitcoin automatically. With no fees either!
My latest paycheck has given me ownership of approximately 0.00000000763 % of the entire Bitcoin network. Bullish!
Thanks nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqprfmhxue69uhkummnw3ezummjv9hxwetsd9kxctnyv4mqz9mhwden5te0wfjkccte9e3h2unjv4h8gtnx095sezgzht 🫡
65k
Do you live somewhere you can buy groceries with SATs without triggering a taxable event on you "capital gains"?
No. I live in Washington state. I’m still subject to capital gains.
Ooff. And you just swallow that as the cost of living on a bitcoin standard?
Sometimes, yes. Remember, a capital gain only applies when you profit. So if my paycheck buys Bitcoin at 110k and it’s 121k when I pay my bills with it, then my life became 10% cheaper at the time of sale. Yes, I’m going to owe a capital gains on that profit but I would rather have gained and be taxed for it than to have ended the month with a net zero increase on my overall wealth. I hope I explained that correctly. Side note, the credit cards I do all my monthly spend on give me cash back, this can help offset any losses I may incur in the short term.
Very good point, my low IQ brain somehow forgot that factor 😅 do you need to make a bunch of accounting and reporting in order to do that within the legal framework though? Sounds like a hell of a lot of work... Or do you just wing it and hope for the best 😅 I assume, that as you are using strike and fully KYC'd you're doing everything legally and reporting every taxable event? 😅
That’s the beautiful thing about living on a bitcoin standard with Strike. They make taxes easy and issue the appropriate tax form to come tax season. The form sent to you is a 1099-DA.
Oh ok! That's pretty sweet, 🤔 hmmm, thanks for the info! it's definitely some food for thought to work towards that BTC standard 💪🏼
You’re welcome. I’m glad we had this conversation. Let me know if you have any other questions on the topic. What I love about Bitcoin is it can be used a variety of ways. How one person uses the technology will differ from how someone else uses it.
What’s the spread on strike for these?
There’s no fee for this. There used to be but this was changed in the past couple weeks I believe
Your math looks out, BTW: 0.0000000763 not
0.00000000763% of the entire Bitcoin network.
You are ten times richer than you said 😱
I am in the process
No fees? My app and their website both claim there is a fee.
