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micahcmiracle
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____________ 🌎⚑️🌍 Abhorrent to the uniform. Anathema to the mundane. The words contained in this repository will astound. 🌎⚑️🌍 ...

Taxes on short-term gains are based on income and range between 10 and 37% of your gains at the time of disposal (when you spend it).

So if you buy $1000 of bitcoin on Jan. 1st at $100k per BTC and bitcoin goes up 10% before you pay off your credit card on Feb. 1 (let's assume you pay off $500 on your card and BTC is now 110k) then the 50 bucks of gains you made (simplified here) would be taxed at your income rate. If your income puts that rate at say, 24%, then you owe $12 to .gov.

You still did much better than paying your $500 in fiat when it was due. In fact, you end up with reducing what you've paid by $38.

If you have bitcoin that you've held for more than 1 year in Strike (or you transfer some to Strike), you could use that and pay less taxes.

Yeah. Luckily, you can adjust how much of your income goes to bitcoin vs cash in Strike. And you can do it anytime.

The way I see it, if I owe taxes, it's because number went up, in which case I made more than I'm paying.

If number goes down, I'll save some on my taxes, countering the gains from previous months.

I'll likely switch back to the fiat standard during the next crypto winter.

Maybe I'll pay my tax bill through Strike too.

I read this:

https://decrypt.co/resources/what-are-ordinals-a-beginners-guide-to-bitcoin-nfts

It gives me the basics inclusing some no-code solutions for creating them and a wallet recommendation for holding any that I may have.

The article says that some feel like it abuses the blockchain, but is short on details.

Can anyone go more in depth here?

I'm interested in releasing music and/or stories on ordinals.

Has anyone heard of #stuff.io on #Cardano? They do something really interesting with DEAs (decentralized encrypted assets).

If that can be done via ordinals, then I would no longer have need for any other blockchain or shitcoin-based projects.

Hey. Good to see you. Sorry to hear that. I'm on the verge of depositing πŸ’― of my income into bitcoin via Strike and using credit like Jack Mallers also a out doing. I'm imagining I'll use Bill Pay to pay down the credit cards.

I guess #Strike got over the compliance hurdles for Bill Pay in California.

I just got the email and updated the app. Sho'nuff. There it is.

Bam! πŸ’₯

#asknostr Sorry for being dense about an old subject, but what's the deal with ordinals? Aren't they like NFTs on bitcoin or something similar?

Also, why are they controversial? What do you guys think?

I heard a guy talking about thr Motown music label today. He said that when they started, they ran their production like a factory.

They had their writers, their musicians, their producers and sound engineers and with this all set up, they would attract a rotation of potential star singers that they could market.

The market was radio πŸ“».

It got me thinking, what if the market was #Nostr?

What if a group of #bitcoin focused writers, musicians and sound engineers set up a decentralized music factory to target ONLY #Nostr clients with a commitment to NEVER target centrally controlled entities?

I'm comfortable with 99.4k ... as a floor.

You're lining up all my favs today

Soon even normies will see real estate as a headache vs bitcoin. When that happens, no one will want a third or fourth house in the hamptons. It may hit the luxury market first, but it will hit hard.

In 1 hour, bitcoin will have held above $100k for 24 hours straight.