Re: Reason Behind Bitcoin’s Price Crash Revealed

Quote from: Gabali126 on August 17, 2018, 11:02:14 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.

I am still confused as to why cryptocurrency should be regarded as a property thereby mandating people to pay tax on it. Cryptocurrency should be seen as money or currency and not as a property.

I agree since Bitcoin price is in Dip state now, But Im sure at the Q4 of the month it will rise again like last years happens.