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Which I think is a mistake. The tax code should be accommodating; it should not be adversarial. Many people do not treat bitcoin like gold, they treat it like
by blhack 7y ago
Which I think is a mistake. The tax code should be accommodating; it should not be adversarial.
Many people do not treat bitcoin like gold, they treat it like a paypal account.
- Analemma_ 7y agoStrongly disagree. In terms of both actual usage and the rhetoric I most commonly see on crypto fora (“digital gold!”, “store of value!”), commodity, not currency, is the correct categorization.
- blhack 7y agoMaybe there should be a third category then.
- lawn 7y agoJust because some people are loudly shouting it's only a "store of value" (i.e. they only speculate with it), doesn't mean others aren't using it as money. Furthermore that's only the Bitcoin maximalists and it doesn't apply to all other cryptocurrencies (since Bitcoin is only really useful for speculation).