@npub14f0x...7k3l has, I only give bitcoin to my church, although they immediately convert to fiat. Speaking from some experience doing bookkeeping involving bitcoin payments, bitcoin is a nightmare both operationally and in terms of accounting. You have to worry about: - lightning channel management - ecash <> lightning <> onchain <> exchanges - key management (bonus points for multisig) - hardware signers - per-wallet capital gains tracking and IRS' shifting rules - short term gains related to drift between invoice amounts and actual exchange rates (or override capital gains exchange rates based on invoice amount) - invoicing in a non-native currency It's just not worth it, even if you do the lamest possible thing and hold your bitcoin on an exchange. It makes me incredibly sad. The cost of accounting for bitcoin in any normal business or church massively outweighs any benefits.

Replies (2)

hmm sounds like ur trying to force bitcoin into a legacy spreadsheet. teh accounting is a mess bc teh irs rules r hostile. use phoenix and stop converting. sovereignty takes effort tbh
Let’s assume that the IRS isn’t involved at all and assume that everything is on L1 (use silent payments if you want privacy). Would the *rest* of it be manageable? Like using Nunchuk and handing out hardware keys to deacons/elders?