Quote from: JimboToronto on June 15, 2017, 06:01:14 PM

Quote from: Dabs on June 15, 2017, 05:34:57 PM

Quote from: JimboToronto on June 15, 2017, 04:29:34 PM

When the time comes to spend some to buy something like property or fiat currency, the blockchain will serve as a record of when I acquired the coins so capital gains tax can be calculated and paid. Until then it's nobody's business except mine.

And you can get away with paying less capital gains tax, if the most recent paper wallet you are exchanging today is dated less than a week ago. I'll leave it to your imagination. You might even possibly register losses too, but that's unlikely since you wouldn't be buying fiat at that point.

Indeed. This is one reason I keep my coins in many small wallets.

As I've stated in many times in the past, I have no intention of selling any coins except if absolutely necessary. If an emergency were to occur during a dip and I needed to sell more than I could through an ATM for cash, at a price lower than the highest I'd paid, I'd definitely claim a loss.

If you claim that the latest bitcoins you bought are the ones you sold (and either claim a loss or a small profit).... How do you plan to declare the previously bought bitcoins if you ever need to sell them for banking fiat in the future?

I mean, if you do that you are basically claiming the latest bitcoins you bought are the first/only ones you got. You could have a hard time later proving you had some more when you yourself declared you don't.

Or maybe canadian law is different in this specifics.