Quote from: thecodebear on January 02, 2018, 08:39:08 PM

Quote from: Saimabutterfly on January 02, 2018, 08:12:57 PM

What is wrong in paying taxes for our earnings? If we all pay taxes for our profits it will benefit our countries. Is not it?

Who said anything about not paying the taxes? I'm asking about how to comply with the law, as at least in the USA it is very unclear how to comply with tax law when it comes to cryptocurrencies. Even professional tax accountants aren't sure, so really its just a guessing game.

I think you're complicating things.

Focus first on the obvious things you'd get taxed on. Distributions out of a coin to USD. Purchases using Bitcoin representing a taxable event. Focus on paying taxes on the gains for those transactions and keep track of your losses so you can use them to offset your gains. Rely on the word of the IRS, they're ones making the rules. Stick to the rules literally and be vigilant of changes year over year.

Quote from: trolliban on January 02, 2018, 07:20:48 PM

Bitcoins are 'worthless' based on the economic models they studied on the university, blockchain monetization is a real concept.

Blockchain monetization is called "Bitcoin".