You are viewing a single comment's thread from:
RE: If You Traded Bitcoin, You Should Report Capital Gains To The IRS? Really?
Are you really surprised? I don't recall the Bitcoin white paper mentioning tax evasion as a purpose.
Are you really surprised? I don't recall the Bitcoin white paper mentioning tax evasion as a purpose.
Bitcoin. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin.
Wouldn't this meant it can not be taxed?
That is a non sequitur. It does not follow that because bitcoin is not fiat or centralized you should not expect to be taxed on fiat gains you make with it.