the problem is that technically it's a taxable event

the problem is that its a taxable event

Well alright.

Transparency

This post on X just made me come back. 💯

@Leathermint this may give you a clue as to why

I would love being able to spend in Bitcoin, but worrying about the tax implications makes it impossible for large scale adoption.

Merchant adoption is probably the canary in the coal mine.

NICE

Right now I have to go pretty far out of my way to spend Bitcoin at physical locations, even though I'm in a major global city. I do it, but can't every day. So it's not a habit and I mainly use my fiat credit card for things. Likewise with online payments. Some retailers accept gift cards, but it's still a lot of friction tracking them all then entering codes at checkout (Amazon is unfortunately the best UX for gift cards - convenient, but makes me feel dirty buying stuff there). If suddenly 30% of merchants start accepting Bitcoin I will be able to pay with it almost all the time. Bitcoiners will be activated to do this. They will start using wallets more, finding merchants because they know one is likely just down the road, and creating a habit of paying with Bitcoin. They can show their friends and people in the queue. Merchants hopefully see savings on these purchases because Block will email them their fees and charge backs broken down by payment type. It will be slow at first, but the friction is much lower than 2014 where you had to wait for confirmations and QR UX wasn't familiar. Make it so the merchant never has to add friction for fiat payers and they'll never need to turn it off. We have to start somewhere. This will resolve the chicken and egg issue of: people don't pay with Bitcoin because they can't pay with Bitcoin.

Welcome back🫡

Welcome back 🎉

@Leathermint @Ben Justman🍷 @Mapletrade @npub1pvcd...q6u7 @Oshi (推し) @Jimble's Jumble @Store of Value Remember, our merchants are the greatest scale example of Bitcoin for every day payments. Thank them. Buy their goods. Tag more of you know them.

Merchants I've talked with, for those moatly in the west, either don't know, or don't want to deal with the taxes on Bitcoin payments. Too much friction, if we can remove that, it's half of the issue.

bloody users not doing what the unaccountable autists want again? Tsk tsk, must be a day ending in Y!

Beautiful.

Perhaps the issue largely boils down to how what ever is marketed? If one offers X for $10 in fiat or $10 in BTC, I"m going with $10 in fiat every time. If one offers X for $10 in fiat or $1 in BTC, now I'm interested in paying wtih BTC.

The latter option makes you a speculator, not a true consumer. Spending Bitcoin instead of hoarding it shifts its role from a mere asset to actual money. Every time Bitcoin is used in place of fiat, the monetary demand for Bitcoin increases while demand for fiat declines. This creates a feedback loop where Bitcoin’s value grows as its use in exchange grows. This is not just theory but historical pattern. When gold became widely accepted in trade, its purchasing power surged. When silver was demonetised, its value collapsed relative to Gold. The monetary premium vanished. If gold were used as money today, its fiat price would almost certainly be far higher. Bitcoin is no different. Its long-term strength comes not from speculation, but from increasing monetary utility. The more we use it as money, the more it becomes money.

In that case, more women need to get involved in Bitcoin because they can spend money faster that I can make it. 😂

🙏

bluesky-quality

WE CALL HIM... NO CAPS JACK

⚡️

You might be on to something 😆