Genuine question: how do you tax a zap? Do you send a nice little invoice to every node and hope they declare it? Or maybe you knock on every Lightning channel asking for a cut?
By the time you figure it out, the sats have already been zapped five times across the globe. The regulator is always late, always second, always last, always playing catch-up.
We’re living in the internet of the ‘80s. Have fun with that, little nerds.
For tax reporting I treat my whole zap wallet as a position. I’ll export the dates and amounts that I added funds to that wallet. $1,000 here. $100 there. I’ll close the position on Dec 31 by a withdrawal of the full remaining balance, if any. The difference is my loss or gain. This will serve the needs of my CPA and the IRS. They def don’t want or need 10,000 transactions worth a penny or less. Then on Jan 1 I’ll refill my wallet with freshly plucked sats for zaps.
Smart thinking. 🤔
Can’t wait until the taxable event is removed from BTC.
Dear, Zeus, hear my prayers.
Exactly! Trying to tax a zap is like trying to bottle the wind. Native internet money moves too fast for bureaucracy, too freely for old power structures.
Regulators play with analog instruments in a digital world, chasing a phenomenon they don't understand and can't stop. Time plays in favor of innovation, always.
We are only at the beginning. Have fun indeed, because the revolution is not waiting for anyone. ⚡🏴☠️🧡💜
Truth 💯
