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Love the idea of saving transaction fees for merchants. But what about the customers spending lightening sats. Is @jack mallers strike app the only app that instant converts fiat to lightening to avoid taxable spending events? Is there a fee from strike for this service? Does cash app do that @jack @npub1ds3h...hzcn ? Also, even if it’s not a taxable event, do you still need to record the spending events to prove they are not taxable. Do these apps make nice little reports for the tax man? Most normies aren’t gonna spend in lightening if they are constantly concerned about the IRS. Too much friction for most. @BTC Sessions do you have a tutorial for tax free lightening spending at a square pos?
In @CITADEL DISPATCH ep114 with Adam Soltys from CoinOS, they laid out the two important elements that led to the success starting a circular economy in Vancouver 1. The incentives (bounty) to onboard a new vendor of a specific type that the *local* community sought; and that then enabled .. 2. The local community to immediately bring more, and new, business traffic to the business, validating their decision to onboard The first part is important, but the second makes it stick. How to do some geo-clustering on the demand side?
I like the idea but the devil’s advocate in me thinks it might end up being an extra friction point and even a red flag for some merchants if a bunch of plebs stat nagging them about Bitcoin who get kickbacks for it. But there aren’t a lot of us out there and most of the merchants I’ve talked to in DC have been receptive to the idea.