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0 sats \ 1 reply \ @Judge 26 Dec 2022 \ parent \ on: Proposal: create Private LSP (Liquidity Service Providers) for businesses bitcoin
I agree with you in spirit. But the reality I have faced with trying to onboard retail stores onto lightning/bitcoin payments is that they don't want to implement it because of the tax reporting burden.
these are multi million dollar franchises that don't want to risk a cavity search by the tax authorities over fast food lightning payments by 1% of their customers, if that.
making the tax issue easy for them to understand and report for each transaction is a significant opportunity out there for someone to simplify for these end user retailers (and it's not even that hard, the formulas are out there).
I understand if that's not your interest, its a terrible compromise of many libertarian ethics, just know it's a real issue faced by the normie retail store fronts who see it as a barrier to implementing Bitcoin/Lightning acceptance in their store fronts.
Exactly. The illusion of free and open society is just that at this stage. If we want others to start using Bitcoin and potentially our kids be free of slavery, the change needs to be gradual.
Businesses pay taxes (whether it is fair or not, is a different discussion), so if accepting Bitcoin makes it harder for them, it will be their main issue. which cannot be dismissed
If very small amount of customers use Bitcoin to pay for their services, it will also be a problem for them and we need to do a good job explaining why it does not matter at this stage and they still should make the jump.
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