3 ms·
perhaps this is what you meant, but isn't the major impact that the stated price is potentially different from the bitcoin price? in other words, buying somethi
by panabee 13y ago
perhaps this is what you meant, but isn't the major impact that the stated price is potentially different from the bitcoin price? in other words, buying something for $10 might actually cost $12 because of capital gains. i agree that wallet software can track tax data automatically, but it seems like the true impact is that consumers won't know what price they're paying unless wallets compute a real-time real price. unless bitcoin prices stabilize within a very tight band, it seems like this issue is what would impair consumer adoption the most? i'm new to bitcoin, so please lemme know if i'm missing something.
- battani 13y agoYes, price variability (measured against USD) would deter consumers.
- maxerickson 13y agoIt isn't an additional cost if you look at the overall situation of the buyer. The taxes owed will always be less than the gain realized. If anything, using bitcoin that have appreciated in value probably reduces the perceived cost of the item.
- gnaritas 13y ago> buying something for $10 might actually cost $12 because of capital gains No. The cost of goods isn't affected by your taxes. You simply have to realize that your Bitcoin stash is pre-tax just as your 401k is pre-tax; spending it incurs a taxable event that means it's time to pay taxes on your gain, those taxes were always going to be due, the good didn't cost more, you're just paying your income taxes late since you haven't paid them yet.