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http://www.businessinsider.com/irs-bitcoin-is-property-not-currency-full-release-2014-3
Major ruling - BTC is property, not currency. Basically means if you mine it at $600/coin, and then buy a product that costs $1,200 down the road for 1 BTC, you owe taxes on that $600 gain.
Major ruling - BTC is property, not currency. Basically means if you mine it at $600/coin, and then buy a product that costs $1,200 down the road for 1 BTC, you owe taxes on that $600 gain.
As Bitcoin users have to track their transactions each time, so would it affect the personal transaction rate or not?
