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Right, but change bitcoin for a game currency. Such as gil in final fantasy. Surely the IRS isn't going to come knocking at your door for transactions man durin
by cglace 13y ago
Right, but change bitcoin for a game currency. Such as gil in final fantasy. Surely the IRS isn't going to come knocking at your door for transactions man during a game.
- dllthomas 13y agoSure, because you're paying for blocks of wood in gil, carving them into figurines, and exchanging the figurines for gil at a profit? And there's a (reasonably) liquid market turning gil into dollars and back? Then they may well come knocking at your door, if the amounts are meaningful. There's an admittedly fine line, with in-game "property" sold on ebay when most players are just wanting to play the game... but with bitcoin it's nowhere near that fine line, particularly when you're engaging in manifestly economic activity like the above with real-world things.
- cglace 13y agoActually, there is a pretty big market for gil. Search on ebay. Or at least there used to be when my brother played.
- dllthomas 13y agoBut nonetheless the vast majority of people using gil aren't intending to use it for anything but entertainment within the game. This is a dramatic qualitative difference between gil and bitcoin, and would expect it to be relevant to how it's treated for tax purposes (though IANAL and certainly don't know all the relevant tax law).