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not in a modern tax regime, not really. If it's a store of value, like say bonds, then it's property. You have to report gold transactions, too, after all.
by marcus_holmes 7y ago
not in a modern tax regime, not really. If it's a store of value, like say bonds, then it's property.
You have to report gold transactions, too, after all.
- blotter_paper 7y agoIf you wanted to know how it's taxed, you could've asked that directly. I didn't see anything in your question about how it was taxed. Short answer specific to the US (IANAL): capital gains on every transaction, counting transactions between different cryptocurrencies as if you'd sold your original currency for USD and then bought the other cryptocurrency using USD. These are just arbitrary laws though, they have nothing to do with the actual properties of a given cryptocurrency.
- marcus_holmes 7y agothe comment I was replying to was specifically about tax (https://news.ycombinator.com/item?id=21443141 https://news.ycombinator.com/item?id=21443141)