Making Bitcoin taxable is a good development because it will connote that in places or countries where this happen the government of such countries have accepted bitcoin and other cryptocurrency as a legal means of transaction and that will definitely contribute to the growth of cryptocurrency. However, I don't think it will be very easy to to tax bitcoin in this state because of its decentralized nature. This will be a major set back in the quest to make bitcoin and other cryptocurrency taxable. I believe in the future if a system can be developed to make every transaction concerning bitcoin traceable to a particular person then the issue of taxation will be a welcome development.