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15 sats \ 0 replies \ @Judge 27 Dec 2022 \ on: Ask SN: What are some of the top bitcoin 2022 stories of the year? bitcoin
All time high hashrate during a bear market
I agree with you in spirit. But the reality I have faced with trying to onboard retail stores onto lightning/bitcoin payments is that they don't want to implement it because of the tax reporting burden.
these are multi million dollar franchises that don't want to risk a cavity search by the tax authorities over fast food lightning payments by 1% of their customers, if that.
making the tax issue easy for them to understand and report for each transaction is a significant opportunity out there for someone to simplify for these end user retailers (and it's not even that hard, the formulas are out there).
I understand if that's not your interest, its a terrible compromise of many libertarian ethics, just know it's a real issue faced by the normie retail store fronts who see it as a barrier to implementing Bitcoin/Lightning acceptance in their store fronts.
Auto taxation calculations would also be valuable. ie capital gains tax implications for each transaction etc
immediate settlement to fiat would mitigate some of these tax implications.
GENESIS