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Electra
electrafi@nostrplebs.com
npub1menr...l4nq
Collaboratively Accounting for Bitcoin and Open Blockchains Web2: www.linkedin.com/in/electra-frost Substack: blog.electrafi.finance electrafrost.btc
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ElectraFi 2 years ago
New toys for business are the best! Just got to figure out how to hook up BTCPay Server LN and have a garage sale and invite frens. ๐Ÿ˜„ image
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ElectraFi 2 years ago
I just met with a company that has streamlined a process I've been dreaming about - Bitcoin invoicing through your QuickBooks or Xero invoicing. They provide a non-custodial Lightning node or BYO. When the client pays with their Bitcoin wallet using a QR code on the invoice emailed to them from the accounting software, the invoice is updated as 'PAID' in the accounting software! ๐Ÿคฉ I've tested it. It works with QB and will soon be multicurrency with AUD and Xero integration. They took my feedback to bring in some other other functionalities that I believe will streamline the tax reporting side and improve efficiencies in a point of sale setting. For a demonstration of my bookkeeping and accounting processes and much more, whether you're a business owner or bookkeeper or accountant or just curious, please join my webinar for the project: ACCOUNTANTS ON-CHAIN - Crypto & Blockchain Accountants and Advisers Group (AOC) It's $20 a ticket and I do this probono work with AOC to support the Digital Playhouse Foundation charity. (tax deductible, CPD) Hope to see you there!
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ElectraFi 2 years ago
Could the PayPal-PAXOS partnership with Venmo integration actually be good news for Bitcoin adoption? Thatโ€™s the argument presented by Paxosโ€™ Head of Strategy in this Bitcoin Magazine interview due to the accessibility of Bitcoin in the PayPal app, as well as introducing their users to the world of decentralized networks via stablecoins.
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ElectraFi 2 years ago
Want to know what accountants think, or encourage your accountants to learn more about Business on Bitcoin? Welcome to the new Electrafi Insider blog! Blockchain, Bitcoin and crypto industry updates filtered by accountants for accountants. Following on from the Accountants On-Chain (Digital Playhouse Foundation) knowledge-sharing project, this content will provide weekly insights on the real business in blockchain and opportunities for professional SME accountants (and aspiring accountants!) in this space. Follow link below to find out more and subscribe. https://blog.electrafi.finance/p/welcome-to-the-electrafi-insider?r=2mc0la&utm_campaign=post&utm_medium=web
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ElectraFi 2 years ago
๐Ÿ“š Just came across a brilliant journal article titled "A Review of the Lightning Networks Evolution: Unraveling Its Present State and the Emergence of Disruptive Digital Business Models" by Thomas K. Dasaklis and Vangelis Malamas. ๐ŸŒ The article discusses the Lightning Network (LN) and its potential for revolutionising digital payments and business models. It explores the LN's characteristics, topology, performance, privacy, and security, providing a critical analysis of existing literature and highlighting strengths and weaknesses. ๐Ÿ’ผ๐Ÿ’ก The authors also identify key themes and trends in the research, offering insights for businesses considering LN adoption and suggesting fruitful areas for future research in blockchain technology, FinTech, and cryptocurrencies. ๐Ÿ“ˆ๐Ÿ” This valuable study also contributes to academia, fostering further research in the field. ๐Ÿ“š๐Ÿ’ก #LightningNetwork #Blockchain #DigitalPayments #BusinessModels #Research #FinTech https://www.mdpi.com/0718-1876/18/3/68
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ElectraFi 2 years ago
Wanted - a 2 metre Bitcoin prop for our exhibition stand in Sydney in November. ๐Ÿ˜ƒ Visit us at our stall at Accounting Business Expo 21-12 Nov. Register at for free entry. #ABExpo is the big, in-person, event for the fast-changing world of cloud and digital transformation in accounting, business, finance and money. image
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ElectraFi 2 years ago
Like most jurisdictions, Australian legislation does not recognise Bitcoin as money or currency, which places a significant administrative burden on taxpayers who use it as a mean of exchange, personally and in business. The unspent transaction outputs (UTXOs) on the distributed Bitcoin blockchain satisfy the meaning of 'foreign currency' and should be accounted for as such, argues Australian tax specialist, Damian LLoyd. This is a great paper for accountants to learn the history and technical terms of Bitcoin, and how it functions as borderless 'money' both as a means of payment and for savings. Discussing - Bitcoin: Property, Money, Currency or Legal Tender? https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4051062&fbclid=IwAR3yerGAr15dsOZ5Xx11M0lwMbpvLlIu6Zo2vVjBhaBtX3rQBtlYvmKwYXo
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