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Don't HODL, don't spend and replace, buy and spend!

Bitcoin Reddit

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HODL meme needs to die, we need to incentive use of the Bitcoin for the health of the network and to spread awareness, plus we get a circular bitcoin economy going!

And so, many advocate for spend and replace, but this opens you up to capital gains tax, depending on jurisdiction.

So why not buy and immediately spend? In the US, at least, you are allowed to use specific lot selection when it comes to figuring your cost basis. So buy Bitcoin at its current price, and immediately spend it on the product or service you want to buy. No capital gains tax!

submitted by /u/roastedtrade
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