That means nothing.   So you have a bitcoin, you can't buy anything with it.  You cash in at coinbase.  The US Congress passes a law requiring any exchange to issue a 1099 form for any conversion to cash.  What record do you have proving your basis price?  Don't have any,  bingo, the IRS says you have a 100 percent capital gain.  You can bet that legislation is in the works to get access to capital gains taxes on bitcoin transactions.  Buy a car and use bit coin, the dealer will be required to report the transaction.  Buy property with bitcoin, the transaction will be reported to the IRS.  Think carefully people.  Tax is one thing, tax and penalty at 20 percent interest is another.

Anyone  who thinks they can get around a power house like the US IRS is making a big mistake.  Drug dealers fill prisons and so can bitcoin tax evaders.  About all Bitcoin is good for is blackmarket transactions and, that is actually very useful.