Quote from: up2urheadlights on March 25, 2014, 11:32:11 PM

Quote from: jakedeez on March 25, 2014, 07:18:57 PM

I am really shocked at this ruling. It's amazingly positive for BTC. While I can imagine a scenario where it could lead to a small dip, that would be because people who were holding got such good cap gains news they are selling. But I mean, it is being treated para pursue to gold for purposes of mining and exchange, with a smaller tax burden then gold or forex for gains.

Can't really imagine a better result. If they had said no taxes maybe, but that would have been a step to de-legitimize. This is a major step to recognition, and I think the best we could have possibly hoped for in the structure.

This isn't technically true, bitcoin is taxed as income when it's mined. Gold is taxed when it's sold. If you mine the bitcoin and sit on for 100 years you are still paying taxes. If you mine Gold and put it in your pocket until the day you die, you don't pay any taxes on it, and neither do your heirs. That is unless they sell it.

If you are in the US, your heirs would pay taxes on it, other jurisdictions may vary.