3 ms·
The idea is that you never need to 'cash them out', because it is meant to be used as a currency not as a casino game. If you do your transactions in them you d
by wladimir 15y ago
The idea is that you never need to 'cash them out', because it is meant to be used as a currency not as a casino game. If you do your transactions in them you don't need to go back to dollars.
- DiabloD3 15y agoNope, not at all. Ask a certified accounted. This is no different than US companies doing business in foreign currencies... you keep your books in USD equivalent values indexed to an exchange rate that is regularly updated. As in, daily, weekly, quarterly. Gaming that also raises eyebrows at the IRS.
- wladimir 15y agoYeah I believe you. I don't live in the US so I know nothing about your tax system. I just wanted to make clear that the goal is to get a worldwide (micro-)economy running in BTC, not to bubble and 'cash out' to other currencies. Though it looks that way at the moment...