Quote from: anitaraymonds on August 17, 2018, 11:18:06 AM

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.

But seeing crypto as an asset instead of digital currency which it is, was not successful when SEC mentioned it. Was there another deliberation where finally
it was agreed that bitcoin is not a digital currency but an asset now. I can not remember such news.

Unfortunately we have friends around who are trying to explain Bitcoin to the people who don't know it by themselves that currency by itself is an asset. Currency is a current asset. I guess before we come to explain bitcoin on any forum we should at least study the fundamentals of economics. So that we have a good idea of what we are saying otherwise we will see the same blunders happening in this forum repeatedly.