Hey
How do you calculate taxes on alt-coins bought and sold with Bitcoin? For example if i bought 10 bitcoins worth of Monero, and monero rose 10% and i decides to sell for that extra bitcoin, how does that become taxed? Furthermore if/when i decide to sell the 11 bitcoin i now have for fiat, how might that be taxed? Thank you in advance.
I never know that there is already happening a tax deduction in some of the altcoins. I think that is not good, because is a digital currency that is decentralized, and I know majority of the altcoins too are also decentralized due to they clone bitcoin. where even the banks or the government cannot control it. So for me taxation in the alts are a good idea.