Ninjastic
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Board Bitcoin Discussion
Re: Reason Behind Bitcoin’s Price Crash Revealed
by
Ilegendph
on 18/08/2018, 12:59:36 UTC
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.

As far as the definition of taxation is concern, the government can not tax bitcoin because it is not a property of that particular country. The property is only taxed if it is acquired in the country by using its resources and its either manpower or natural resources.