Re: Reason Behind Bitcoin’s Price Crash Revealed

Quote from: clear cookies on August 11, 2018, 08:48:43 AM

Early investors in Bitcoin are faced with large capital gain taxes from the profit they made in 2017.

Read more here: https://smartereum.com/5636/the-real-reason-behind-bitcoins-price-crash-revealed-tue-aug-7/

Qoute from that link,way back 2014 IRS made an announcement that crypto's are defined as a property and not a currency.
So as such they are entitle to pay thier taxes as property owners.

So, this is some question i want to ask;
1. How can IRS make a conclusion thay cryptos is a property? And how much power the IRS is to defined it?
2. Even if this true. How to track all transcation from 3-4 years ago and get their identity with decentralized system? Using what punishment?
We talk about investors globally, i do not think it is possible. Added with different tax regulation in some country.
Please share your thoughts