Thread: Bitcoins: perfect for micro-transactions?
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Old 04-01-2013, 06:29 PM  
ilnjscb
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Quote:
Originally Posted by MikeRoth View Post
Link me to these tax laws on bitcoins you speak of. Why would you pay tax on bitcoin when it's still in bitcoin form? If you buy AAPL stock you don't pay taxes on the stock until you sell it.

There is no difference in how you pay taxes currently and how you would pay taxes with bitcoins. Currently you receive USD and you pay taxes on the USD. If you receive bitcoins, you convert it to USD and you pay taxes on the USD. One extra step to convert it but it's still the same end result. You'd have the same transaction logs and book keeping on the incoming USD.
This - remember only a few years ago you could hold huge options positions off book, and options are way less cuckoo than bitcoins.
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