I do something similar with a comparable service.
I guess my question is: are y'all reorganizing pricepoints for your buys as part of the safe haven declaration, or just planning to get the screws come tax time given that FIFO will be the only option?
What's everyone planning on doing with their #bitcoin cost-basis tracking in response to the guidance from the IRS come 1/1/25?
#asknostr
Day 99
1 mile
7m 12s
Agreed... Short term volatility is a factor, but that also potentially means reducing my tax burden. On net though, if bitcoin continues a general pattern of appreciation in value, then I'll wind up paying less in bills overall - sometimes more, but more times less.
Another factor is that strike uses HIFO, which minimizes gains while maximizing losses. Couple this with the fact that, at any given point I'm spending "last week's paycheck," it means my risk of volatility is limited to the price fluctuation of a rolling 7-day period.
In the words of Mallers: "Why would any man work for something that another man can print?"
Cheekiness aside: It's not worth being put in a cage like an animal, taken away from my family, and stripped of my freedoms. The cost-benefit analysis doesn't work in my favor...
Because at no point am I having to hold dollars. I'm maximizing my exposure to btc while maintaining my ability to easily transact in dollars.
It's all very hands-off too. All of the steps of the process I laid out are done in the background by strike, including tax report generation at the end of the year.
First billpay on strike today was successful...
I'm super excited about beginning life "on 0."
Earned dollars come in - instantly converts to btc in my account - hold btc on strike much like a checking account - spend dollars using a credit card - pay bill with strike
Obviously you don't want your bags sitting on strike, but treating it as a checking account and transferring to your hardware wallet as a "DCA" periodically makes so much sense.
Anyone else doing this?
#asknostr
#strike
#bitcoin
Day 98
1 mile
8m 30s
Day 97
1 mile
8m 28s
Day 96
1 mile
7m 33s
Day 95
1 mile
7m 51s
Direct deposit into strike with an auto-convert to sats.
Pay your bills with Strike's new "bill pay" feature.
Done.
At least the government is protecting you from yourself... Sure would hate for you to have dangerous freedom
Strike has introduced a bill pay function on their platform to allow users to effectively hold 0 fiat and pay bills directly from a bitcoin balance. Is this available where you live?
Day 94
1.5 miles
12m 12s
The same week I unsubscribe from Mr. Obnoxious I find out that nostr:nprofile1qqsd0uazmzmhwseeym3rjhf3txyjapreapc6sq8yq8cy07cg45tlx2cprdmhxue69uhkummnw3ezummjv9hxwetsd9kxctnyv4mz7qgwwaehxw309ahx7uewd3hkctcpzemhxue69uhk2er9dchxummnw3ezumrpdejz760mw3c has picked up with WBD mantle?!
Thank you, sir, for continuing/starting this project. I have your latest episode in my queue for work tomorrow.
$MSTR is the only altcoin that can successfully lure maxis' DCA away from #bitcoin
In Saylor's own words: There is no second best.
Day 93
2 miles
16m 7s
