Quote from: sgk on August 28, 2018, 05:51:19 PM

@Tokenista Wow fam, you really seem to have been deep into it! Some nice references there!

yeah, I have been into Cryptocurrencies since like 2012, and I have been studying some legal stuff, so I always like to look at the cases and everything around this, and throughout all of it it has seemed so far that the best way to compare it is with digital currencies from video games, because you can actually go sell gold from video games

then from there you can start thinking of it for what it is, lines of code, comparable to a composed piece of music, which the creator (developer) has given all of us for free, so we did not have to pay him for it, and the fact that we are paying each other for it is, again, comparable to video game gold, so that is where the law really is so far, except for a few little things like the IRS claims that it is taxed on Capital Gains, but the IRS has never taken anyone to court for it

and the general law with taxes, regardless of its attachment to cryptocurrency, is that if you don't BELIEVE you have to pay taxes, and that belief is not based on some Constitutional theory, such as that the Tax Amendment was not properly ratified in the States, then you don't have to pay taxes. So as long as you can HONESTLY tell a Judge "I thought it was like a line of Code or a Lyric of Music, created by someone" then you don't have to pay taxes, and that is really where the law is right now anyways, the IRS is getting ahead of themselves