Quote from: kokjo on April 21, 2013, 11:52:38 AM

Quote from: Bitcoinpro on April 21, 2013, 11:49:04 AM

no one is avoiding paying taxes, bitcoin is a global currency its called a totally new concept

that does not matter in tax laws... if i have a capital gain from bitcoin, i would have to pay taxes. it does not matter if im exchanging them back into fiat: i still had a gain.

This. Profiting from bitcoin whilst living in the USA would be no different to profiting from trading Euro/JPY. You're making a profit and you need to pay taxes. The "oh it's global" and "oh it's brand new" is self-serving self-justification that is rooted in nothing but wishful thinking.

Now, you could mount an argument that unrealised bitcoin gains aren't taxable until said gains are realised - either by sale or by exchange for goods/services. But I have no doubt that once you sell bitcoins for fiat or trade bitcoins for a good/service, you are liable for tax on those gains.