>I do think the friction that will result from the IRS decision really damages the value of Bitcoin as a low transaction cost mean of exchange It doesn't seem

>I do think the friction that will result from the IRS decision really damages the value of Bitcoin as a low transaction cost mean of exchange It doesn't seem to make much difference. In its current form, Bitcoin already suffers from a lot of friction when used as a means of exchange. For the average consumer, buying it is difficult, storing it is difficult, the value isn't stable, using it for physical retail purchases can be very clunky. It's a beta. A lot of things would need to work better for it to really succeed. In that context, the rather clumsy reporting requirements of the IRS ruling are yet another minor speedbump, which needs to be either ironed out or worked around.