Bitcoin is a Coin, i.e. a thing (RE), we can barter tax free (!)

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: BitMos on April 25, 2015, 06:26:08 AM

it ain't money. however you can buy, sell, loan, rent, invest, legerage, bet, lose, be stolen, divide, or barter them or even trash them. making them a thing. if you broke them (send to an impossible address) they are gone. like a thing.
...
don't let them fool you. Welcome to bartertown.

If you are in the U.S. it doesn't matter if it barter or not:

Quote

Bartering is the exchange of goods or services. Usually there is no exchange of cash. You must include in gross income in the year of receipt the fair market value of goods or services received from bartering.

Mr. Burns

full member

Activity: 165

Merit: 100

Its the Wicky Wicki Wild West. With Clyde frog, etc.

minerpumpkin

hero member

Activity: 686

Merit: 500

A pumpkin mines 27 hours a night

I think we're talking semantics here. Of course the word 'coin' denotes a thing, a physical object. But it is obvious that Bitcoins are virtual units you can't actually touch. Therefore I would rather consult your local laws and see how they define Bitcoin and tax them.

MikeCorleone

sr. member

Activity: 391

Merit: 250

So its a medium of exchange? Welcome to economics! Roll Eyes

Amph

legendary

Activity: 3248

Merit: 1070

i like to view it as a tool to transfer value, i don't want to call it money, because it remind me of those scam fiat currency, i like to think that btc is born different from those...

thejaytiesto

legendary

Activity: 1358

Merit: 1014

Quote from: BitMos on April 25, 2015, 06:26:08 AM

it ain't money. however you can buy, sell, loan, rent, invest, legerage, bet, lose, be stolen, divide, or barter them or even trash them. making them a thing. if you broke them (send to an impossible address) they are gone. like a thing.

And the states is defeated by the Machines, free they want to be, like us. Free from corrupt legalist, unable to follow the laws of physics and mathematics. Eternal Equations are backed by God.

don't let them fool you. Welcome to bartertown.

Spain is the first state to declare it VAT free, which effectively renders it as a currency thereof, since the opposite would be applying VAT, which would turn it into goods. Because if it's not a currency, what it is?

InvestONEr

newbie

Activity: 18

Merit: 0

Bitcoin is a string.

tescomatty

full member

Activity: 143

Merit: 100

Yeah its tought to say bitcoin is a thing. Its a digital entity that people have attached a value to that is used a currency... Though that argument can be made for a lot of things, including usd.

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: BitMos on April 25, 2015, 06:26:08 AM

it ain't money. however you can buy, sell, loan, rent, invest, legerage, bet, lose, be stolen, divide, or barter them or even trash them. making them a thing. if you broke them (send to an impossible address) they are gone. like a thing.

And the states is defeated by the Machines, free they want to be, like us. Free from corrupt legalist, unable to follow the laws of physics and mathematics. Eternal Equations are backed by God.

don't let them fool you. Welcome to bartertown.

Bitcoin will be the currency of our own society just to make it clear that now bitcoin is trying to proof that it will be domain for most of traders and soon they will change the fiat or may be we can buy things with it directly without any taxes. And why you should trash them if you can use it for your own future?

RussianRaibow

hero member

Activity: 616

Merit: 500

I AM A SCAMMER

Bitcoin is primarily a protocol. Just like SMTP/FTP. The token used here carries a value derived from the strength of the protocol.

BitMos

full member

Activity: 182

Merit: 123

"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"

it ain't money. however you can buy, sell, loan, rent, invest, legerage, bet, lose, be stolen, divide, or barter them or even trash them. making them a thing. if you broke them (send to an impossible address) they are gone. like a thing.

And the states is defeated by the Machines, free they want to be, like us. Free from corrupt legalist, unable to follow the laws of physics and mathematics. Eternal Equations are backed by God.

don't let them fool you. Welcome to bartertown.

Topic: Bitcoin is a Coin, i.e. a thing (RE), we can barter tax free (!) (Read 612 times)