Good article and agree with 2 of his 3 points.
Now on to FinCEN vs. IRS....
Topic: Bitcoin is hardly "doomed" because of the IRS ruling - page 3. (Read 3775 times)
There was ALWAYS destined to be tax implications to investing and transacting in Bitcoin if it was a technology that truly had sufficient utility to survive.
Here in my mind is a rather good statement of why the current actions of the IRS is actually a positive advancement for Bitcoin.
http://www.nasdaq.com/article/3-reasons-the-irs-bitcoin-ruling-is-good-for-bitcoin-cm339333
Record keeping is going to add certain complexities...but it seems to be that was almost always destined to be the case regardless of how taxation was ultimately chosen to be handled.
Somehow it doesn't seem to me that the necessary record keeping can't eventually be handled with a bit of code.
Here in my mind is a rather good statement of why the current actions of the IRS is actually a positive advancement for Bitcoin.
http://www.nasdaq.com/article/3-reasons-the-irs-bitcoin-ruling-is-good-for-bitcoin-cm339333
Record keeping is going to add certain complexities...but it seems to be that was almost always destined to be the case regardless of how taxation was ultimately chosen to be handled.
Somehow it doesn't seem to me that the necessary record keeping can't eventually be handled with a bit of code.
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