Post
Topic
Board Altcoin Discussion
Re: Bitcoin declared a commodity, are ETH and other currencies to follow?
by
reactorjuno
on 05/10/2018, 11:06:33 UTC
https://m.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552

What do you think? is this the early stages of acceptance towards cryptocurrencies?

It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.
While I agree, no one can deny Bitcoin is not a currency right now, it's more digital gold so I can agree that it is a commodity at the moment.
If some of us can get very rich in the future, there is always the possibility to move to a tax friendly country such as Malta (or similar options) Wink