Quote from: killer2021 on July 22, 2011, 02:12:21 PM

Quote from: LeonGeeste on July 21, 2011, 05:24:26 PM

Quote from: Jaime Frontero on July 21, 2011, 03:48:21 PM

Quote from: NetTecture on July 21, 2011, 03:34:44 PM

Same in most parts of europe.

...

So, I sell some, to pay and expand, and keep some fo which I dont pay income tax until I sell them and get "real" currencyl.

Real and not currency totally in the definition of the law here Wink

yes. if you keep them they're not taxable, but if you sell them for the currency of your country, they are.

Are you sure? The IRS pages linked above suggest that merely receiving bitcoins would count as barter income and so is taxable at its market exchange rate to dollars Sad

Yea thats how it works. The IRS has this saying, "all income from whatever source derived is taxable." It defines income as anything of value. So bitcoin income is indeed taxable.

Why doesn't Bitcoin qualify as currency from another country, where it would only be taxable when you "repatriate" the currency into USD?