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Author Topic: 2014-01-07 Forbes - Taxing Bitcoin: IRS Review Has Big Implications For Investor  (Read 729 times)
_wayfarer_ (OP)
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January 08, 2014, 12:47:32 PM
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This is a big conversation, definitely not one that is resolved yet.  The fact that Forbes is saying it is what is really meaningful:
http://www.forbes.com/sites/beltway/2014/01/07/taxing-bitcoin/

Try my free BTC price alerts | In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497 - Warren Buffet
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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January 08, 2014, 12:58:33 PM
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Let's hope the IRS reads this & responds.

A good high level summary of the issues.

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January 08, 2014, 07:13:56 PM
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They just had to get this bit in didn't they?

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For now, Bitcoin is little more than a marketing fad, an ideological metaphor, and a sandbox for speculators.

Why do they always resort to this whenever Bitcoin proves them wrong? What's going to happen when the price stops being as volatile or becomes more predictable in it's movements?
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January 08, 2014, 08:37:25 PM
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They just had to get this bit in didn't they?

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For now, Bitcoin is little more than a marketing fad, an ideological metaphor, and a sandbox for speculators.

Why do they always resort to this whenever Bitcoin proves them wrong? What's going to happen when the price stops being as volatile or becomes more predictable in it's movements?

At that point, the market cap on bitcoin will probably be in the trillions, and they'll actually care about it given how much of the world's wealth it represents...

Until then, it's still child's play.

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January 08, 2014, 09:27:00 PM
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They just had to get this bit in didn't they?

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For now, Bitcoin is little more than a marketing fad, an ideological metaphor, and a sandbox for speculators.

Why do they always resort to this whenever Bitcoin proves them wrong? What's going to happen when the price stops being as volatile or becomes more predictable in it's movements?

that's easy.

they'll just say it's not a good investment.
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