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SuiteWorld #3: The Debits and Credits of Crypto
The Accounting Podcast
Using Debit Digital Assets Credit Sales to Build a Base Ledger
We're going to fair market value the Bitcoin debit digital assets. Let's say it's one Bitcoin. We then are also going to take that Bitcoin and add it into an inventory. This is a, it's a foreign currency you have to track on a lot by lot basis with inventory. So every time 2,000 listeners each send us $8. That's a little bit. And then what if we're paying us per minute listened? And there's a lot. It's even teeny. Because that's the beauty of this. Microtransactions. The way we work is that we give it the ID, the ID of the transaction on the blockchain, that becomes the inventory
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