Coney_Croft on Nostr: Looks to me like with rule changes that may be coming to how we will be reporting our ...
Looks to me like with rule changes that may be coming to how we will be reporting our Bitcoin to the IRS that we may not need to report person to person, and person to business transactions if it does not involve the purchase of Real Estate or Securities. We will be incentivized to keep Bitcoin off exchanges to avoid capital gains taxes.
I was out at one of my favorite pubs last night and got into a conversation with the owner regarding his problems with taking credit card payments.
He has found himself needing to add 3.5% to customer bills who use credit cards to purchase.
I’ve been seeing a lot of this lately. Even the gas stations are giving a better price to cash paying customers.
The pub owner also tells me that he has to wait for the Credit card company to send him his money. Sometimes up to a month wait.
In addition, his staffs tips on credit cards are delayed to end of week or more, and are added to their regular payroll check. Of course, taxes and all the other stuff taken out before receipt.
This brings me to the point of this conversation. Bitcoin is now more than ever an answer to this problem. This pub owner could accept Bitcoin on the lightning network, and avoid all of this nonsense. You could even tip the staff separately, and they would have their tip instantly. There was a guy playing his guitar in the corner, and he was collecting some cash tips. I don’t really carry much cash with me anymore. There are others same as I. You want to tip that guy in the corner playing his instrument, and you don’t have any cash. Bitcoin is the answer.
Merchants can talk to Strike or CashApp about converting Bitcoin payments back to USD to pay their vendors, or Bills.
It’s time to get out there in our neighborhoods and promote this. Take your paycheck in Bitcoin, or convert it to Bitcoin immediately. At least some of it. Get out there and spend it with these merchants that sign on to accept this.
This is the kind of adoption that Bitcoin was created for. It was not meant to be a get rich quick scheme that Wall Street could take over.
I was out at one of my favorite pubs last night and got into a conversation with the owner regarding his problems with taking credit card payments.
He has found himself needing to add 3.5% to customer bills who use credit cards to purchase.
I’ve been seeing a lot of this lately. Even the gas stations are giving a better price to cash paying customers.
The pub owner also tells me that he has to wait for the Credit card company to send him his money. Sometimes up to a month wait.
In addition, his staffs tips on credit cards are delayed to end of week or more, and are added to their regular payroll check. Of course, taxes and all the other stuff taken out before receipt.
This brings me to the point of this conversation. Bitcoin is now more than ever an answer to this problem. This pub owner could accept Bitcoin on the lightning network, and avoid all of this nonsense. You could even tip the staff separately, and they would have their tip instantly. There was a guy playing his guitar in the corner, and he was collecting some cash tips. I don’t really carry much cash with me anymore. There are others same as I. You want to tip that guy in the corner playing his instrument, and you don’t have any cash. Bitcoin is the answer.
Merchants can talk to Strike or CashApp about converting Bitcoin payments back to USD to pay their vendors, or Bills.
It’s time to get out there in our neighborhoods and promote this. Take your paycheck in Bitcoin, or convert it to Bitcoin immediately. At least some of it. Get out there and spend it with these merchants that sign on to accept this.
This is the kind of adoption that Bitcoin was created for. It was not meant to be a get rich quick scheme that Wall Street could take over.