Value for Value ⚡️
So they have let's say they have a custodial wallet on strike, so they have some Bitcoin on strike. Not your keys, not your coins. I don't know why you have Bitcoin there. But let's just say you have Bitcoin on strike. They have some Bitcoin on strike. They have some Bitcoin in cold storage. So, like, on their hardware wallet or hardware wallets with Multisig and Sparrow. So they have a cold storage wallet. And then let's say they have a hot wallet on their phone. Right?
Episode Summary
Satoshi Pacioli is a leading bitcoin focused accounting firm based at Bitcoin Park in Nashville. They discuss the recent IRS rule changes and their best interpretation of how to proceed going forward.Satoshi Pacioli on Nostr: https://primal.net/p/npub1drlw0wmu9tq37usx4qt3u6u4zj44mrf3zsfa6xhcdyrh3n4wpmgqr4rfg0 Website: https://satoshipacioli.com/ EPISODE: 147BLOCK: 877102PRICE: 1060 sats per dollarsupport dispatch: https://citadeldispatch.com/donate nostr live chat: https://citadeldispatch.com/stream odell nostr account: https://primal.net/odelldispatch nostr account: https://primal.net/citadelyoutube: https://www.youtube.com/@CitadelDispatch podcast: https://serve.podhome.fm/CitadelDispatch stream sats to the show: https://www.fountain.fm/ join the chat: https://citadeldispatch.com/chatlearn more about me: https://odell.xyz(00:00:38) Introduction - No More Intro Clips(00:02:06) Bitcoin Tax Discussion with Experts(00:03:06) Understanding the Safe Harbor Provision(00:09:53) Practical Scenarios for Bitcoin Holders(00:28:00) IRS Reporting and Future Changes(00:36:07) Conspiracy Theories and Custodial Pressure(00:43:08) IRS Broker Rule and Legal Challenges(00:52:03) Choosing HIFO and Tax Strategies(01:00:05) IRS Compliance and Reporting Details(01:07:01) Final Thoughts and Wrap-Up