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>BCH received in the fork should be treated like the receipt of free money Why is that? Another way of looking at it is that the value of your existing bitcoi
by nokcha 9y ago
>BCH received in the fork should be treated like the receipt of free money
Why is that? Another way of looking at it is that the value of your existing bitcoin holdings got split between two competing chains. In a rational market, value of your bitcoin holdings pre-fork should be equal to the sum of the value of your holdings on the two post-fork chains.
- gamblor956 9y agoBecause the value of your Bitcoin holdings did not split. You had Bitcoin before, and the same amount of Bitcoin after, but also a new quantity of valuable other-Bitcoin. And let's not describe Bitcoin as a rational market...Even if that were true, it's not relevant to the tax treatment.