what is bitcoin?
Lots of definitions for bitcoins, one thing is for sure...Its tax free.
Not entirely true. I believe it was established a while ago that Bitcoin would technically fall under barter tax.
"would technically fall under barter tax" still to happen or no longer will, not happening till this writing...It will not happen that's for sure...I Hope.
If you somehow have a nice expensive car, and a nice expensive house, and a nice expensive yet your income in USD is labeled as being 0.... I think IRS (or your local equivalent of choice) will be asking some nasty questions.