Purchasing with Bitcoin?

Given the record high price of Bitcoin these days, and having come out of the winter underwhelmed with my current install, I'm in the mood to fund a much better storage and inverter setup. I'm likely looking at a rackmount battery setup, with something like a 6000xp inverter.

Is anyone aware of US-based battery distributors that accept Bitcoin directly? Of course I could exchange BTC to USD, but the banking end of that is going to take a while (US banks are so far behind most of the world with financial infrastructure and transfer speed), and there are of course exchange fees. Figured it'd be worth an ask, as I'm probably not the only HODL'er needing to buy more solar equipment than my cash savings has!

Thanks!

AKExcalibur said:

Given the record high price of Bitcoin these days, and having come out of the winter underwhelmed with my current install, I'm in the mood to fund a much better storage and inverter setup. I'm likely looking at a rackmount battery setup, with something like a 6000xp inverter.

Is anyone aware of US-based battery distributors that accept Bitcoin directly? Of course I could exchange BTC to USD, but the banking end of that is going to take a while (US banks are so far behind most of the world with financial infrastructure and transfer speed), and there are of course exchange fees. Figured it'd be worth an ask, as I'm probably not the only HODL'er needing to buy more solar equipment than my cash savings has!

Thanks!

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CoinBase deposits funds next day into a checking account.

Actually, same day, if requested before 9am IIRC and target has to be Wells Fargo.

I.e. I request funds at 8am and around 11am it is in my account at Wells.

Indeed they do have Wire transfer (for $25). AHC being the the free slow-boat option. But the 1.5% withdraw fee is what I'd rather avoid. Anyway, it was a long shot, but figured it's worth asking, given the preponderance of prepper-types in the trade.

AKExcalibur said:

Indeed they do have Wire transfer (for $25). AHC being the the free slow-boat option.

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my previous comment about same day funds was not wire transfer. It was ACH. That's why I specified Wells Fargo. With CHASE, it takes a day longer. I have never done a wire transfer with CoinBase.

AKExcalibur said:

But the 1.5% withdraw fee

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There is no such 1.5% fee with ACH. You only pay a fee for the trade of crypto to fiat. And the trading fee is 0% to 0.5% depending on your account standing.

Most of my off-grid friends use Bitcoin and we buy and sell stuff to each other.

We do not convert to fiat. BTC wallet to BTC wallet. Fee is minimal

We need a distributor that can accept Bitcoin directly. That would be fantastic. I would cover it on my channel for free any day of the week.

Yea newegg has accepted bitcoin for like 10 years, it's interesting that almost nobody else has.
There's a food truck in australia that does as well

Home Depot accepts Bitcoin payments via Flexa’s checkout systems installed in their stores. This makes it super simple to checkout using Bitcoin since Geminis partnership with Flexa has taken out all of the friction traditionally involved with Bitcoin payments.

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WTF anyone ever tried that? apparently home depot accepts bitcoin

gotbeans said:

WTF anyone ever tried that? apparently home depot accepts bitcoin

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It's not hard to imagine any Store taking Bitcoins so long as they are running it through a third party company that pays them in Cash. A few like NewEgg seem to do it directly but that is not surprising given who their biggest customers are.

I'm almost all Bitcoin currently. Only using cash for bills, food and taxes. I don't need much either.

Will Prowse said:

I'm almost all Bitcoin currently. Only using cash for bills, food and taxes. I don't need much either.

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Probably not appropriate for your main YouTube channel, but it would be really interesting to hear a breakdown on how you got to this point, caveats, etc.

I personally have a bit of the "chilling effect" with the Samourai Wallet stuff going on. I have a suspicion we will see more and more threats by government into the crypto space attempting to deter the average person from adopting crpyto (same stuff we've seen in the gun space for years).

Not trying to spin this into politics, just navigating the tax implications of selling crypto to try to stay above board with the IRS is one of the hurdles for me to navigate, especially having held crypto since before the IRS was requiring reporting of sales into fiat currency and such.