You don’t even need to load fiat into your account, you can have a zero balance. As long as you have a linked bank account it will spend the fiat directly from there and pay the invoice in sats. We demoed this at our last 757btc meetup.
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If I accept BTC as payment for goods and services, and I spend that BTC on goods and services, it makes absolutely no sense to claim there is a taxable event.
If not for fiat, there is no way to measure supposed gains or losses.
If I sell a bushel of apples for 60,000 sats and a week later I purchase ten pounds of green coffee beans for 60,000 sats have my sats gained or lost purchasing power?
When the government inflates away the purchasing power of my fiat dollars do I get to claim this as a loss?
Do I have to pay capital gains on fuel purchases when gas prices go down?
This system is broken and absurd. Why should I feel any obligation to jump through these hoops?
#asknostr #bitcoinbusiness #bitcoinstandard #smallbusiness #accounting
I’m looking for accounts to follow that are sharing their experience running regular businesses on a Bitcoin standard. Landscapers, painters, restaurants, dentists, etc. Please advise
GM Nostr!
Every day feels like the government is trying to put me out of business
That’s weird because I am not hostile to the government with my operations