Evo Terra joins me to discuss the emerging methods by which podcasters can receive crypto from listeners. Evo Terra is the host of Podcast Pontifications!
We briefly introduce crypto in general as well as Podcasting 2.0, Bitcoin, satoshis, Lightning Network, Satoshi.stream support on Telegram, NFTs, and more.
RESOURCES AND LINKS:
Twitter enables tipping with Bitcoin, plans to let users authenticate NFTs
Dave Jackson’s show, Leading The Bleeding
Video on how to setup your show
Basic understanding of Value 4 Value (some podcast apps are “value for value” enabled)
Transferring Bitcoin From satoshis.stream
Here are a few of the crypto creators that I watch regularly:
My NFT artwork:
Comment below with questions 😉
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One Response
This conversation made me wonder about the tax reporting requirements of accepting listener donations in cryptocurrency. So I did a little research. Cryptocurrency is treated as property, so when you receive it you establish the cost basis using the fair market value on that day. That also tells you how much income to report on your tax return. As you sell the cryptocurrency or use it to buy something, you calculate the capital gain or loss of the currency used. That can be a complicated calculation if you spend a combination of crypto with different cost basis. Then you declare the short or long-term gain or loss (as appropriate) in your tax return. It’s not “free money” that you receive and spend without consequence. But don’t take my word for it – I’m not a CPA. Do your own research.