While this may not change much (if anything) for how miners are required to report income, it has huge repercussions for merchants and consumers. Why would I as a consumer want to buy something if I have to worry that the currency I use to buy it will require me to pay capital gains taxes after the purchase? It renders bitcoin as a currency useless. If you considered buying bitcoins as an investment, like stocks or index funds, then no, not much has changed. BUT...bitcoin is supposed to function as a currency, not an asset.