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388 sats \ 8 replies \ @benthecarman 11 Jan 2023 \ parent \ on: Ask SN: how accurate does BTC price need to be for reporting transfers on taxes? bitcoin
If this is a concern you should put in your terms that the sats on stacker.news are just points that are redeemable for sats, that way the user would only need to report on withdrawals
Does anyone else do that? Can I do that if we call them sats everywhere?
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That's what we do at TBC
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have you asked a lawyer about this? :thinking:
not a lawyer but if the points are transferrable and redeemable for money this is effectively money and most likely courts will say calling them "points" doesn't get around the fact of the matter.
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this is what our lawyers told us to do
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And there is another question: would renaming them from "sats" to "points" be necessary? Afterall, that would be an after-the-fact thing. I would guess the answer depends on what the SN ToS currently says about the nature of the sats-on-SN vs sats-on-Lightning.
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There is no ToS lol.
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There is one and only one for IRS/govs: GFY
ššš
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very good point.
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