Post
Topic
Board Legal
Topic OP
It is now next to impossible to spend bitcoins legally if your american
by
Robert Paulson
on 26/03/2014, 20:13:46 UTC
Quoting from http://www.bloomberg.com/news/2014-03-25/bitcoin-is-property-not-currency-in-tax-system-irs-says.html

Quote
Purchasing a $2 cup of coffee with Bitcoins bought for $1 would trigger $1 in capital gains for the coffee drinker and $2 of gross income for the coffee shop.

so now anyone who is taxable by the IRS and wants to buy something with bitcoin must check if he owes capital gains to the IRS.
land of the "free" indeed...