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Perhaps the difference is that the IRS can theoretically tell how long you've held the particular bitcoin coin you're selling, whereas gold coins aren't so easi
by genwin 13y ago
Perhaps the difference is that the IRS can theoretically tell how long you've held the particular bitcoin coin you're selling, whereas gold coins aren't so easily traceable in that way.
- natdempk 13y agoThe IRS can't tell how long you've held a bitcoin, what price you bought it at, when you bought it or how many bitcoins you hold in total. The fact that you can arbitrarily split wallets and tumble coins means they basically have to trust what you say, or accuse you of fraud. This is similar to how you could melt down gold and lie about when you bought it and the price you bought it at.
- genwin 13y agoAgreed, when the coins are tumbled like that. But if they weren't?
- broolstoryco 13y agogood luck implementing this.