Quote:
Originally Posted by kane
The other day I read that the IRS is going to treat Bitcoins as property not currency for tax purposes. I don't know if that will or did have any affect on it, but it seems like there has been nothing but bad stories in the news recently.
It may still go back up, but I wouldn't be shocked to hear that bitcoins best days are behind it. Perhaps another cryptocurrency will take its place and be the one that breaks through in a big way.
The saying pioneers get slaughtered and settlers prosper is around for a reason.
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The IRS put all alt coins in the same tax category. So other coins won't be any different in that regard.
I do think the IRS statement had an affect on the price as it would appear that they want to tax as property and income when you sell. (This seems to be, and I think it's freakin' crazy town)