Quote from: disclaimer201 on November 28, 2013, 04:57:27 PM

Quote from: mskryxz on November 28, 2013, 04:44:41 PM

Good job to you all that most of you agreed not to sell at $1,000 and roughly 80% of you will continue holding regardless of price.

To the 20% that are deciding to sell at some point, say $2,500 , $5,000, or whatever it may be. You need to realize the importance that once we reach those prices and more opportunities and businesses accept Bitcoin, there is very little point in converting BTC --> $$ --> Buying a house or car. You will actually end up paying more taxes that way.

By the time BTC gets that high in price, I would like to assume that there will also be enough retailers and businesses that accept Bitcoin, that technically you would just purchase a house or a car in BTC without converting to Fiat, thus saving you even more money from tax savings.

Cliffs/TLDR: By the time BTC is at a high price, you can buy whatever you want in BTC. Selling would only mean losing more money since you pay taxes on recognized gains and you would be paying a 2nd tax when you purchase a house or car for example.

You will not be able to buy a house without having to pay taxes for it. Most merchants will be forced to declare sales and pay taxes. Regulation is already here.

I understand you will need to pay taxes on BTC.

What I am saying is you wouldn't need to pay taxes twice.