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Given the recent guidance from the IRS regarding bitcoin (it's property like stocks or bonds... http://online.wsj.com/public/resources/documents/0325irsbitcoin.
by deegles 13y ago
Given the recent guidance from the IRS regarding bitcoin (it's property like stocks or bonds... http://online.wsj.com/public/resources/documents/0325irsbitcoin.pdf http://online.wsj.com/public/resources/documents/0325irsbitc...) I wouldn't try to use it as a day-to-day currency. Every single transaction will represent a taxable event, requiring calculating cost-basis and capital gain/loss. If Stripe were announcing today a "pay with MSFT shares" feature, people would ridicule them. That's essentially what bitcoin payment is. (in the US at least)
- danielweber 13y agoIt's really not that bad. Stripe would presumably offer you a full ledger showing the exact time and price of all the Bitcoins you used. There are some things to be skeptical about, but the IRS hasn't made Stripe's use of Bitcoin any harder. They have to keep super-careful records anyway.