Could it really be every Bitcoin transaction needs to be defined differently for legal and tax purposes?
Governments decide based on laws how they want to treat something for legal and tax purposes. Since many governments haven't yet created bitcoin (or cryptocurrency) specific laws, each agency needed to decide for themselves how bitcoin fit into the existing law structures.
Can it be that in certain cases Bitcoin is a currency while in others property?
That's how various U.S. agencies have decided to treat it.
Many "features" exist in Bitcoin that allow progression such as this.
Such as?
The internet was full of "features" that was not being utilized until many years down the road..
I'm not sure that is was, and you've offered no examples. Even if it were so, the fact that the internet experienced something has nothing to do with whether or not the bitcoin would experience anything similar.
Are we really utilizing Bitcoin to the max?
No. Bitcoin is still in its infancy. It is a protocol without much infrastructure yet.
Has development on core functions come to a stop?
Apparently not:
- 2015-02-16 Version 0.10.0 released
- 2015-04-27 Version 0.10.1 released
- 2015-05-19 Version 0.10.2 released
- 2015-07-12 Version 0.11.0 released
- 2015-10-14 Version 0.10.3 released
- 2015-10-15 Version 0.11.1 released
- 2015-11-13 Version 0.11.2 released
- 2016-02-23 Version 0.12.0 released
- 2016-04-15 Version 0.12.1 released
In the end, we are just constantly redefining 1s and 0s?
No, we are creating new concepts and then using a language of 1s and 0s to represent those concepts.
