Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is hardly "doomed" because of the IRS ruling
by
Robert Paulson
on 27/03/2014, 16:40:12 UTC
there are no taxes or book keeping a person has to do to buy things with fiat money.
why would anyone choose to use bitcoin now.

What about income tax, sales tax, gift tax, property tax etc? I pay tax on all my their money.  Bottom line, In the U.S. gains in wealth are taxable. None of us like what the gov does with our tax money, but the money to run society has to come from somewhere.  Undecided

the point is not that you have to pay tax.
the point is that with bitcoin you need to keep track of your tax liability after every purchase.
no such hassle with fiat money.