cnix on Nostr: If I accept BTC as payment for goods and services, and I spend that BTC on goods and ...
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
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