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Topic: 2014-01-07 Forbes - Taxing Bitcoin: IRS Review Has Big Implications For Investor (Read 730 times)

legendary
Activity: 1764
Merit: 1002
They just had to get this bit in didn't they?

Quote
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.
legendary
Activity: 2086
Merit: 1031
They just had to get this bit in didn't they?

Quote
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.
legendary
Activity: 1540
Merit: 1000
They just had to get this bit in didn't they?

Quote
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?
legendary
Activity: 2086
Merit: 1031
Let's hope the IRS reads this & responds.

A good high level summary of the issues.
member
Activity: 93
Merit: 10
Software Engineer
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/
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