How do you do this with the capital gains tax if you have to sell sats every time you need to pay the credit card bill
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I want to know this too
I don’t see how it makes sense economically as opposed to just putting all fiat you don’t need to spend into bitcoin each month. That way you don’t have to pay capital gains and would actually end up with more bitcoin in the end because you don’t have the make another sale to pay the tax when it comes due, which then would count for another capital gain for the following year. Not to mention paying more tax to the government is exactly what many of us are trying not to do.
what do you mean? you have like 10-12 cap gains events a year and you just pay the taxes
also, think about it, if you have a capital gain that means you avoided asset price inflation. that means you gained against a fiat that is being debased
not wanting to deal with a capital gain is wanting to be poor
you can also just pay the credit card bill whenever you get your next paycheck and then just sweep the rest into bitcoin to stay on 0 fiat. i believe that's what @Sahil Chaturvedi does.
Yes this makes way more sense
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Hi, I am among the unfortunate victims of the FTX scam, a situation that has resulted in the loss of my entire savings, totaling around $20,000.
The distressing aspect of this ordeal is not just the financial loss but the subsequent actions taken by SBF and Sullivan & Cromwell, the involved debtors. Following the success of their global heist, it appears that, rather than working towards justice for the affected customers, they are prioritizing their own interests, demonstrating a complete disregard for the well-being of those who have suffered.
To witness such blatant exploitation of innocent people for personal gain is not only disheartening but also raises concerns about the moral and ethical compass of those involved. Their actions can only be described as mentally and spiritually sick, going beyond mere financial misconduct.
The significance of this situation cannot be overstated for me, as the funds lost were an integral part of my financial stability. I am reaching out to you with the hope that you might consider extending a helping hand during this challenging time. Any assistance or guidance you could provide to navigate through the complexities of this situation would be immensely appreciated.
I believe in the power of collective compassion and the willingness of individuals to make a difference in the lives of those facing adversity. I understand that you may have your own commitments and limitations, but even the smallest gesture can have a meaningful impact.
Thank you for taking the time to read my plea, and I sincerely hope that you may find it in your heart to offer assistance during this trying period. Your kindness will not be forgotten, and I am immensely grateful for any support you can provide.
BTC: bc1q9vfmfwj6av9pxj50r6xyl652mwhqvw5ds86nw2