Strip clubs could make it rain in exchange for cyrpto currencies.
Do you pay taxes on cyrpto gains or only when you convert them back to dollars?
Dancers might like getting cyrpto tips. Could be a huge black market see ally if strip clubs handed out cyrpto bills representing currency so that everything is kept electronic but the paper shower still goes on and guys get to enjoy throwing bills on stage.
I finally see how regular paper money could disappear.
Rick999: "Do you pay taxes on cyrpto gains or only when you convert them back to dollars?"
Going to depend on the way you came about them, but generally not mark to market so you can hold onto them (good idea anyway) long term to receive favorable tax treatment. Definitely consult a CPA but for starters:
They also have their own club cryptocurrency, which, unlike pretty much every other "club cash", gets you a discount instead of having to pay something like 10% extra -
"Pro Tip: Whether you’re into cryptocurrencies or not, take a few seconds and buy some LGD tokens when you arrive at the club. There’s no transaction fee and it gets you a 20% discount on everything you buy there. A no-brainer."
It's hard to imagine dives accepting Bitcoin anytime soon, though. If you can't figure out how to properly clean a bathroom, handling cryptocurrency would seem pretty far out of reach.
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I just saw how much they have gone up in just the last year and month. Holy cow.
Do you pay taxes on cyrpto gains or only when you convert them back to dollars?
Dancers might like getting cyrpto tips. Could be a huge black market see ally if strip clubs handed out cyrpto bills representing currency so that everything is kept electronic but the paper shower still goes on and guys get to enjoy throwing bills on stage.
I finally see how regular paper money could disappear.
Going to depend on the way you came about them, but generally not mark to market so you can hold onto them (good idea anyway) long term to receive favorable tax treatment. Definitely consult a CPA but for starters:
https://www.investopedia.com/articles/in…
Legends Room in Las Vegas accepts Bitcoin and Ethereum:
https://news.bitcoin.com/las-vegas-strip…
https://toplessvegasonline.com/venues/le…
They also have their own club cryptocurrency, which, unlike pretty much every other "club cash", gets you a discount instead of having to pay something like 10% extra -
"Pro Tip: Whether you’re into cryptocurrencies or not, take a few seconds and buy some LGD tokens when you arrive at the club. There’s no transaction fee and it gets you a 20% discount on everything you buy there. A no-brainer."
One in the UK accepts Bitcoin officially, too:
https://www.vice.com/en_uk/article/j5jzx…
It's hard to imagine dives accepting Bitcoin anytime soon, though. If you can't figure out how to properly clean a bathroom, handling cryptocurrency would seem pretty far out of reach.