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Old 06-18-2013, 01:23 AM  
Serge Litehead
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Join Date: Dec 2002
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IRS is not ready to deal with Bitcoin and other virtual currencies

You can treat your bitcoin income as hobby, gambling or bartering according to the article:

http://www.nextgov.com/cybersecurity...bitcoin/65051/

IRS decided to let the market's mature before coming up with new tax codes for it due to other priorities and no avail. resources.

So, it's official - bitcoin is here to stay, for those who didn't realize still that this tech cannot simply be undone or banned.

Funny though how FinCen, IRS and GAO do not treat Bitcoin as play monopoly money or pyramid scheme or whatever else. Gotta wonder why. out of all places preaching "adopt or die" some folks here stuck in past century with their real tangible paper money with different value representations on 'em that they can touch and feel, that is gov. backed until serious financial crisis that is - then value - pufff, is gone; which is the real property of real current money, unfortunately.
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