Quote from: maarx on April 10, 2018, 05:06:27 PM

Quote from: orions.belt19 on April 07, 2018, 05:23:04 AM

According to this video, https://www.facebook.com/cnbccrypto/videos/1688689147880991/

Bitcoin is considered as property and therefore whenever you sell your BTCto cash, there are two transactions. You first sell the property to cash value then what you gain from the sale is used as cash. These transactions are therefore taxable.

For HODLers, if you cash out it in less than a year then it would be considered as income so theres tax for that. If you hodl for more than a year, then IRS will consider it as 20% capital gains.

Interesting to watch the video created. New way of getting tax to what is earned from bitcoin. How can you consider crypto currency bitcoin as a property. In order charge tax how can you term bitcoin as a property. Why such a foolish expression? Lets pay tax if the government asks for but it depends, we can pay if the respected government legally accepted bitcoin and other crypto currencies. What is the use of creating such a video which is not a use and viewers time is wasted as well.

How every bitcoin is called, never mind, i take it as an asset to save for future. I love to save bitcoin instead of exchanging bitcoin into fiats and use it for other purpose. I am saving the earnings though it is very small. I love to rank up soon with merits which will help me earn bit more and save them for future. This savings should help my son's studies as well it should help me invest on other crypto currencies.