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71 sats \ 4 replies \ @nout 1 Oct 2023 \ on: A Good Sats Purchase Flow Ive Discovered bitcoin
Strike would be better for this option, because in Strike you hold the value in USD. Paying LN invoice in Strike with your USD balance won't create a taxable event.
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50 sats \ 0 replies \ @cryptocoin 2 Oct 2023
I love Strike, I just haven't used them since I can no longer add funds via my debit card. I still regularly use Send Globally, but that is because I'm funding my account with BTC, which I then sell on Strike for USD, and then send fiat from that USD balance.
I wish Cash App offered this "Pay BTC / Pay an LN invoice", from a USD balance. Seems such a simple step for them, yet such a game changer for us.
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100 sats \ 0 replies \ @jamesviggy 2 Oct 2023
https://i.postimg.cc/mDM6Fxtv/st-small-507x507-pad-600x600-f8f8f8.jpg
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0 sats \ 0 replies \ @bzzzt OP 2 Oct 2023
Strike has always been a shitty exp for me, unfortunately. But you can also hold cash in cashapp too, not sure how itd be diff.
Cash app also tracks your buy and sells well enough for reporting, in my experience. I guess if i had concerns for my tax reporting...if the bills were large enough, id just buy zenledger to take care of it 🤷‍♂️
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0 sats \ 0 replies \ @rijndael 2 Oct 2023
If you buy and then immediately sell/spend, you dont have a capital gain
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