Coinbase -- now tracking your bitcoins

[leex1528]

Based on how things are developing, I am expecting them to be the first BTC company to start sending out 1099s

Which probably won't happen for at least a few years.

I don't see how they could tax you on bitcoins you sell at this point in time.  Because one they haven't clearly defined how it works if you mine the coins.  What is to stop you from saying you mined some coins? 

I think we will all be good for a couple years before we get taxed anything on them..

[keithers]

Based on how things are developing, I am expecting them to be the first BTC company to start sending out 1099s

Which probably won't happen for at least a few years.

I don't see how they could tax you on bitcoins you sell at this point in time.  Because one they haven't clearly defined how it works if you mine the coins.  What is to stop you from saying you mined some coins? 

I think we will all be good for a couple years before we get taxed anything on them..

They definitely are headed that direction with all the reporting options they now have when you log into your account.   They make it seem like it is a feature, but it is definitely so that it can be tracked.   They are still the most convenient, but on the regulation side they are definitely on the forefront

[leex1528]

They definitely are headed that direction with all the reporting options they now have when you log into your account.   They make it seem like it is a feature, but it is definitely so that it can be tracked.   They are still the most convenient, but on the regulation side they are definitely on the forefront

hmmm...What reporting options?  I have logged in everyday haven't seen anything about reporting anything?

[valvalis]

Coinbase: The PayPal of Bitcoin

Well put, could not agree more.  Basically they are having to make compromises to go legit.  Hopefully, they will be as successful as Paypal.

If the government interfered in bitcoin, so what's the difference with fiat? don't let the government interfere in bitcoin. Bitcoin is independent currency

[keithers]

They definitely are headed that direction with all the reporting options they now have when you log into your account.   They make it seem like it is a feature, but it is definitely so that it can be tracked.   They are still the most convenient, but on the regulation side they are definitely on the forefront

hmmm...What reporting options?  I have logged in everyday haven't seen anything about reporting anything?

The advanced reporting options that track the histories of buys and sells

[leex1528]

The advanced reporting options that track the histories of buys and sells

ahh....Those have been there for like 8 months so I wouldn't exactly call them new features...