IRS says Bitcoin will be taxed like property, not currency

[NewYorkExpress]

http://www.usatoday.com/story/money/business/2014/03/25/irs-says-bitcoin-is-property/6873569/

Well, it's about time people had some guidence...

[Adam Griffin]

LOL, good luck collecting that tax from anyone other than people like the Winklevii.

[Antonio the Sixth]

Makes sense since it is not in any way a currency.

[Ban my account ffs!]

Makes sense since it is not in any way a currency.

Just because you don't like something doesn't mean it isn't actually the thing it says it is.

For example, your dismissive outrage at things you don't like could be a form of currency.  Not one that anybody willingly accepts... but one that is used by you nearly constantly on this forum.

[Antonio the Sixth]

Makes sense since it is not in any way a currency.

Just because you don't like something doesn't mean it isn't actually the thing it says it is.

For example, your dismissive outrage at things you don't like could be a form of currency.  Not one that anybody willingly accepts... but one that is used by you nearly constantly on this forum.

Sorry to ruin your whiny vendetta against me, but a currency only exists if it is recognized and backed by a sovereign entity.

[True Federalist (진정한 연방 주의자)]

Makes sense since it is not in any way a currency.

Just because you don't like something doesn't mean it isn't actually the thing it says it is.

For example, your dismissive outrage at things you don't like could be a form of currency.  Not one that anybody willingly accepts... but one that is used by you nearly constantly on this forum.

Sorry to ruin your whiny vendetta against me, but a currency only exists if it is recognized and backed by a sovereign entity.

Fixed.  While governments would obviously like to have people believe only they can create a currency, that simply is not so. No doubt that is why the tax code treats sovereign currencies differently than other forms of property. That said, governments generally have an advantage in creating currencies unless they behave irresponsibly so that no one trusts their money.

[Small Business Owner of Any Repute]

Bitcoin, the unstable no-seriously-this-is-a-currency backed by the hopes and dreams of the libertarian masses, has dropped below $500.

[Small Business Owner of Any Repute]

Meanwhile, Redditors chipped in to a fund to have rival joke currency Dogecoin advertised in NASCAR.



http://www.nascar.com/en_us/news-media/blogs/Off-Track/doge-reddit-josh-wise-talladega-superspeedway-aarons-499.html

[Simfan34]

What exactly is the copyright of the original photo?