Post
Topic
Board Economics
Re: Why did BTC drop by $75 in the past week
by
godislove
on 03/04/2014, 15:42:02 UTC
People are selling coins in order to pay their taxes.  It will probably go up after April 15.

Why do people keep repeating the coindesk hogwash that the tax rule is unexpected or bad?  This is the exact same treatment any other foreign currency gets.  It will probably even publish an official exchange rate on December 31, 2014 along with all the other currencies.  There are no taxes if bitcoin stops changing value relative to the dollar.  Why are people complaining about having to pay the lowest possible tax rate on getting profit for doing nothing?  And if you lose money from it decreasing, then it's a tax write-off.  In terms of taxes, this is win-win-win (lowest possible tax rate, deductible, and declaration that it is same as a currency). I am astounded by the stupidity shown in this forum.  Makes me want to sell my bitcoin.