Quote from: agentbluescreen on April 29, 2013, 03:12:23 PM

Quote from: rayfloyd on April 29, 2013, 02:06:35 PM

So how do we cash out now? If need be obviously.

This is totally un-documentable BS, since nobody knows what you are doing on Kijiji or whatever with your friends and Bitcoins.

In fact being stupid or greedy enough to need to be reporting it as "investment income" or "investment losses" should be the crime.

In the USA the "Over the Counter Credit Swap Derivatives" (OTC CDS) are totally tax free "deregulated" mediums of swap-transaction. (eg: a marginal cost, basically zero-sum game)

http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

A "funded" CDS (Credit Swap) is simply an instrument where you fund someone else's "default loss" to be compensated for that by the next owners funding of your "default loss", it's just a rubber cheque that people can all play "bounce" with, and fortunately for us all, it is also the intrinsic nature of a BTCitcoin.

If it's value changed while it was in the air, who's to say if you lost or gained?

Who could determine your costs for one you've sold or still have, or it's "new" value if you haven't sold it yet?

Who can prove you didn't barter your granny's sewing machine for more of them?

Can an exchange know you weren't cashing in or buying them for somebody else?

use your wallets and transfers at all those exchanges you can, often, problem solved...

Yes that whole taxing bitcoin thing is BS, and it is going to be difficult for them to catch it but I mean if for example I have a steady income of 500$ per week and in 2-3 years when bitcoins are worth more, I cash out some of it to partially pay a car let's say. Wouldn't the CRA be like hummm that's weird he just got 20k deposited and it's signed CaVirtex... Wouldn't they come after me?