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Compiling resources for orange pilling local businesses
572 sats \ 6 comments \ @Atreus 14 Feb bitcoin
I'm compiling a list of guides and informational articles for businesses wanting to accept Bitcoin. Ideally, am looking to address:
  • The pain points small businesses currently have with the legacy system
  • Which pain points Bitcoin fixes and why
  • Challenges, whether technical, regulatory, or otherwise, that business owners are likely to come up with
  • Easiest wallets (I'm assuming LN) for beginners to just get started with
This'll be used to draft some short write-ups for local businesses and hopefully get them at least thinking about bitcoin. Fire away, please.
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20 sats \ 2 replies \ @0xIlmari 14 Feb
Make sure to include a local interpretation from a tax authority.
It's surprisingly difficult to find tax information that does not relate to cryptocurrency capital gains taxes (i.e. as an investment vehicle) but most business owners will want to stay on the "good" side of the law, even if they wear a "fuck the state" shirt.
That being said, most countries treat all cryptocurrencies as property. So it does not matter if you accept Bitcoin, Ethereum, gold or Rai stones, the sale is a taxable event and the "benefit" received must be accounted as gain at its fair value at the moment of transaction.
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0 sats \ 1 reply \ @Atreus OP 14 Feb
Thanks for the tip! Do you by chance have experience talking to business owners about this?
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0 sats \ 0 replies \ @0xIlmari 15 Feb
Not about accepting bitcoin but about running a business in this shithole. I also worked for several companies, big and small, and I technically am a business owner myself, being self-employed. A top concern that always comes up is always tax compliance, followed closely by labor law.
And extra accounting means extra cost, means the incentives need to make it economically viable.
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0 sats \ 0 replies \ @DarthCoin 14 Feb
Here in the most compacted way...
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0 sats \ 0 replies \ @UCantDoThatDotRugged 14 Feb
Look at Square and Bitpay and Coinbase and similar for what they have written as marketing copy on their websites already.
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0 sats \ 0 replies \ @ama 14 Feb
Easiest wallets (I'm assuming LN) for beginners to just get started with
Have a look at coinos: https://coinos.io/ama
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