Square’s rollout of integrated Bitcoin payments for local merchants has accelerated the bitcoin industry’s shift toward mainstream commerce, giving sellers options to settle “btc to btc, btc to fiat, fiat to btc, or fiat to fiat,” as Jack Dorsey noted. In a detailed FAQ, Satoshi Pacioli Accounting explains the tax and reporting implications for businesses adopting these tools. The firm reiterates that the IRS treats Bitcoin as property, meaning payments are recognized as ordinary income at the asset’s fair market value upon receipt, with capital gains or losses realized only when the Bitcoin is later sold or spent. The guidance emphasizes structured record-keeping, unchanged sales-tax obligations, and payroll rules for Bitcoin-denominated wages. Satoshi Pacioli argues that better software integrations, automated cost-basis tracking, and clarifying conversations with CPAs can reduce friction as more companies operationalize Bitcoin payments.
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An incisive discussion with AnchorWatch cofounder Rob Hamilton on What Bitcoin Did, explored rising tensions around a proposed soft fork designed to restrict non-monetary Bitcoin transactions, especially inscriptions and ordinals. Hamilton argued that the proposal, informally dubbed BIP 444, attempts to impose a one-year “emergency patch” that tightens consensus rules, disables certain Taproot features, and risks freezing user funds. “Bitcoin is not a democracy. Bitcoin is anarchy. It is rules, not rulers,” he said, warning that introducing moral criteria for on-chain data weakens long-term censorship resistance. Hamilton noted that activating such a fork would require broad miner and business support, yet none has materialized, and emerging prediction markets price its odds extremely low. They consider that a failed user-activated soft fork could ultimately strengthen confidence in Bitcoin’s resilience as the bitcoin industry continues to debate protocol governance.
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Ten31 argues that modern finance has drifted too far from verifiable truth, making credibility, once anchored in ledgers and proof, dangerously interchangeable with reputation. In a new essay, the firm writes that “credibility is the invisible balance sheet of economies,” warning that paper claims often multiply faster than underlying proof. Drawing on historical bubbles and corporate failures, the team orients Bitcoin as a corrective mechanism: an open, permissionless system where reputation cannot outrun verifiable ownership. Ten31 says its investment model mirrors this discipline by treating equity as long-term “bitcoin-aligned” capital, measured in halvings rather than quarters. Its portfolio, spanning Unchained, Strike, Fold, Mempool.Space, Battery, and others, creates a mutually reinforcing network that Ten31 describes as credible finance built on proof-of-work. The firm expects traditional companies to increasingly integrate with this infrastructure, accelerating digital asset adoption and raising the standard for institutional trust.
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Jeremiah Johnson in Infinite Scroll critiques venture capitalist Marc Andreessen after he mocked a papal call for ethical technology development, an episode Johnson argues exposed “the nexus of all the ways society is decaying.” The piece highlights Andreessen’s investments in gambling-style consumer apps and AI tools that encourage deception or mass bot deployment, portraying them as emblematic of a tech sector drifting from public benefit toward extractive behavior. Johnson contends that Andreessen’s reaction, recycling the same meme at critics before deleting the posts, reflects a broader culture of online polarization, vice signaling, and rage-bait incentives. Though written from a broadly pro-growth perspective, the column warns that techno-optimism without moral grounding accelerates societal fragmentation. Johnson suggests the industry’s credibility will hinge on whether leaders can prioritize human-centric innovation over culture-war theatrics and speculative digital excess.
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The BIP-444 debate is fascinatig because it exposes the tension between practical concerns and Bitcoin's core censorship resistance. Hamilton's point about rules not rulers resonates strongly here. The fact that prediction markets are pricing activation extremely low tells you evrything about where miner consensus actually stands. Meanwhile, Square's merchant integration feels like the quiet infrastructure buildout that matters more long term than protocol drama.