Did you know you can buy something in bitcoin without a "capital gains tax event"?
I'll show you how I use this trick to save me the headache of keeping track of my cost basis and keep me off of the IRS's naughty list.
I'll show you how I use this trick to save me the headache of keeping track of my cost basis and keep me off of the IRS's naughty list.
Step 1
This trick requires @ln_strike . So, if you don't already have an account, you can use my affiliate link 👇 and we both get $5 - which you can use for this trick (or just buy yourself some #bitcoin)
invite.strike.me
This trick requires @ln_strike . So, if you don't already have an account, you can use my affiliate link 👇 and we both get $5 - which you can use for this trick (or just buy yourself some #bitcoin)
invite.strike.me
Step 2
Once you have a Strike account that has been validated and set up with a payment method, you'll need to add funds. Just tap on the $ at the top, and you can put in some dirty fiat.
Once you have a Strike account that has been validated and set up with a payment method, you'll need to add funds. Just tap on the $ at the top, and you can put in some dirty fiat.
Step 3
Once you have a balance, you can send this to any #Bitcoin or #Lightning ⚡ wallet. To do that tap "pay", then tap on the icon that looks like a QR code in the top right.
Once you have a balance, you can send this to any #Bitcoin or #Lightning ⚡ wallet. To do that tap "pay", then tap on the icon that looks like a QR code in the top right.
Step 4
On the next page, all you need to do is scan the QR code or paste the address from the seller accepting bitcoin as payment. This can be a layer-1 (normal) Bitcoin address, or it can be a layer-2 Lightning address.
On the next page, all you need to do is scan the QR code or paste the address from the seller accepting bitcoin as payment. This can be a layer-1 (normal) Bitcoin address, or it can be a layer-2 Lightning address.
That's it! It's that simple. You just sent someone dirty fiat and they received bitcoin.
(Remember, this is not tax or legal advice).
(Remember, this is not tax or legal advice).
Why is this such a great strategy?
-No capital gains tax (obviously)
-Increased privacy for both parties
-Increased sovereignty for the business/seller
-Promotes adoption and encourages more businesses to accept bitcoin as payment
-Final settlement is fast and "cheep cheep" 🐥
-No capital gains tax (obviously)
-Increased privacy for both parties
-Increased sovereignty for the business/seller
-Promotes adoption and encourages more businesses to accept bitcoin as payment
-Final settlement is fast and "cheep cheep" 🐥
This method was inspired by @WittyUsername30 .
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