Quote from: anrian062 on August 11, 2018, 03:51:29 PM

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

I agree with the points that you made. The fact is that the IRS cannot track every single cryptocurrency related transaction due to the anonymous nature of this market no matter how much manpower they possess at the end of the day.

It is quite obvious that the primary reason for Bitcoin crashing in price is due to the fact that many investors were simply pulling out their profits due to the bans imposed by several countries scaring them and spreading fear.