“Why would I spend bitcoin?”
— person who spends unrealized-sats every day in the form of fiat
Discussion
For me, spending bitcoin is more about the decision it makes me face:
> Am I willing to ignore tax law in my jurisdiction? <
If not, I then have to treat my every Bitcoin transaction as a taxable event, requiring me to know and document the cost basis for every sat, and self-reporting this on a complex and obscure tax form that is likely to raise red-flags and the attention of the tax authorities who demand and enforce capial gains regulation.
It’s a real question to consider where applicable.
If you’re worried about a ‘taxable event’ every time you spend bitcoin, you’re doing it wrong.
You could choose Monero for your spendings.
But instead you choose inactivity in the hope others will fix the system for you.
Okay so you trade more privacy for a lack of auditabilty.
Those who can use Bitcoin privately have zero use case for moenro.
Yeah; I hear what you are saying...
I was thinking about the adjacent issue.
I was focusing primarily about the decision a person has to make about complying [or not complying] with tax laws.
Using Monero doesn't make that particular decision go away; Monero is under the same tax regulation as all cryptocurrencies.
----
Monero's usefulness to the person who decides not to report crpytocurrency transactions to the taxing rulers is a slightly different topic.
Why would I spend btc instead of spending fiat?
nostr:note1pgszl99udaez5tg5ryvvum4h7aj4uywp0r33qjgqvkrph9dasppqv4vy4t
“Because you have transcended the fiat world altogether and it’s all you own, all you spend, all you save.”
Ask not: Why spend bitcoin, ask rather: What else would I spend?
“Unrealized sats” LOVE IT
THANK you *in michael scott yell*
Fiat is just unrealized sats.
GOOD.
So true, pay in SATs and buy the SATs back if you need to. The only way spending SATs should be an issue is if you are actually all in on Bitcoin and then can't afford what you are buying. At that point what you are buying isn't really worth it to you. EVERYTHING IS PRICED IN SATS!
Reminder that dollars are just unrealized sats.
nostr:nevent1qqsfvqx8sjuk6lk24l35d7selt2yc97s4nn33s4eucx5chkclregftc6myufr
bingo
this is the weakest argument against the bitcoin MoE
why do you even have cuck bucks in the first place? Its completely irrational.