Quote:
Originally Posted by L-Pink
If I have a bitcoin I mined at $7 and give it to your company for $100 worth of product I owe taxes on the $93 gain.
What you owe on the bitcoin depends on your companies profit/loss on that coin when you use it. Telling someone it's a tax-free exchange is wrong.
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How would you peg $7 to your mined bitcoin?
is it by time-stamp when it hit your wallet or when it was actually mined (issued) to a mining pool where you mine, or few milliseconds later when pool assigned it to your account?
That's rhetoric, an actual question is: when does any particular, mined bitcoin get their value? would it be safe to assume that bitcoins kept in storage before being used in actual transactions are valueless or unassigned? - reason being that no exchange of values have had happened yet and its value is undetermined. - does it make sense?