Because price is now low, people are making this supposed loss of fungibility a big issue, as if it was the end of everything. We have been dealing with this kind of legislation in the PM industry for decades and it is not a big deal. It is not the reason why PM's are not practical to be used as money.
Sure you have to pay taxes on gains, but the fact that you have gains should be the interesting thing here. Even if there was a blockchain-level registration of all your bitcoins, and requirement to keep track of the cost basis of every satoshi, you would not even notice given proper software. This ruling is the beginning of all good things bitcoin, except the loss of anonymity which wasn't there to begin with.
Besides I am sick with this US-centricism. There are 220 other legislations out there to choose from if you don't like the ruling. In my opinion it was very reasonable and I can only dream of 18% cgt rates here..
TL;DR: You are just panicking. Sell all your bitcoins to me.
I'm definitely not panicking. I've been buying for the last few days because even though it seems TA is based off a disintegrating perspective - I'm gambling it will continue for now. Personally I think the tax issue is incredibly inflated. My main concern is continuing collapse. A lot of recent adopters are disillusioned from their [insane] expectations. What I'm really interested in is a ~definitive outlook that accounts for this.
Once the majority of adopters realize this isn't a new economic paradigm (at least for common purposes), what will the market look like? How much will adoption decrease if at all? I could definitely be overestimating the amount of speculative holders/opportunistic futurists but I'm assuming many recent btc users have adopted on false pretenses. Most people probably don't recognize the systems utility outside of personal gain, if they're a futurist then maybe they saw it's utility in terms of an alternative medium of exchange. How many people here are hodling due to tech prospects...