Step 1. Get hardware wallet or reputable custodial service depending on your preferences.
Step 2. Buy #Bitcoin
Step 3. Ensure you have a solid accounting system or consult with an accountant regarding taxes and financial reporting
Step 4. Stay informed in regards to #BTC regulatory environment and comply unless you are willing to make a stand and possibly face the consequences.
Hope this helps, I don’t have a business to do this, but I do work for myself at all of my jobs and run on as much of a bitcoin standard as possible.
If I end up with a small business I would take the balance sheet and convert as much as I could to btc. What was left would just be for running what parts of the business are on/need fiat rails for convenience purposes, accounting would be a lot easier if you only bought as much btc as you didn’t plan on spending soon and leaving what needed to be spent in cash…sometimes easier said than done.
sms / Seth Michael Steele
npub14ev…lrc7
2024-06-19 05:17:18
in reply to nevent1q…5huf
Author Public Key
npub14evvr7lp03jf48zl9dy84g2jqqaem0zreyw8ssr8djmzfg9el0dsntlrc7Published at
2024-06-19 05:17:18Event JSON
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"id": "e8e21a19a1a0df477ad8d94a6dc454e51e584015b2be2e0ed07e927bba5cd75e",
"pubkey": "ae58c1fbe17c649a9c5f2b487aa152003b9dbc43c91c7840676cb624a0b9fbdb",
"created_at": 1718767038,
"kind": 1,
"tags": [
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[
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"content": "Step 1. Get hardware wallet or reputable custodial service depending on your preferences.\n\nStep 2. Buy #Bitcoin\n\nStep 3. Ensure you have a solid accounting system or consult with an accountant regarding taxes and financial reporting\n\nStep 4. Stay informed in regards to #BTC regulatory environment and comply unless you are willing to make a stand and possibly face the consequences.\n\nHope this helps, I don’t have a business to do this, but I do work for myself at all of my jobs and run on as much of a bitcoin standard as possible. \n\nIf I end up with a small business I would take the balance sheet and convert as much as I could to btc. What was left would just be for running what parts of the business are on/need fiat rails for convenience purposes, accounting would be a lot easier if you only bought as much btc as you didn’t plan on spending soon and leaving what needed to be spent in cash…sometimes easier said than done.",
"sig": "11a86df2b8860fd4b088b54d14c08963ffb7ddad904206403aa02904fa5751d75184defd90d1bfba4c2f8e1808218a15beeb696a0faaccc123b53d25a1629123"
}