David’s spot on! Strategic Bitcoin Reserve and BTC Treasury companies get most of the air time, but @DavidFBailey highlights much more critical issues to Bitcoin miners.
Here’s why this could transform BTC mining & drive mass adoption 🧵
We are at the finish line of getting deminimus bitcoin transactions (<$600) cap gains free AND ending double taxation on mining/staking in the Big Beautiful Bill.
This might be our only shot at this for a while, today/tomorrow call or email your senator and make sure they know how much you SUPPORT this. If you are a major donor, reach out to your point of contact and let them know. It is so so so close, just need one extra push.
A 2014 IRS ruling forces BTC miners to recognize mined BTC as income immediately, even if never sold.
This front-loads taxes, creates selling pressure, and hurts U.S. miners, who drive ~35% of the hash rate. Ending this treatment saves miners precious cash flow and incentivizes HODLing mining rewards.
Currently, every BTC transaction for U.S. persons demands detailed record keeping & a heavy admin burden due to IRS capital gains tracking rules.
This is the single biggest hurdle to everyday use of Bitcoin, like buying groceries or a cup of coffee. A $600 tax-free threshold could skyrocket BTC mass adoption.
As BTC use surges with the $600 de minimis threshold, transaction fees will rise due to increased network demand. With fees at all-time lows, there's no place to go but up — and that’s a good thing.
Higher fees help strengthen Bitcoin’s long-term network security by incentivizing miners as block rewards decline.
Ending double taxation + the $600 exemption = a BIG win for Bitcoin.
Higher profits. More miners. A stronger network.
Call your senator. RT to spread the word — let’s get this passed!
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