The IRS plans to TAX Bitcoin, although not as money.

[James Dean]

http://www.usatoday.com/story/money/business/2014/03/25/irs-says-bitcoin-is-property/6873569/

 

How do you guys think this will effect the value of my coins? (not that I have a lot. )

 

[Wesley]

Those who don't want to pay taxes already know where their Tor browser and favorite mixing service is. Those who are operating more above-board with bitcoin are paying taxes anyway by assessing their value to USD for income, paying capital gains, etc. 

 

In short, I don't think it will change much except make it clear to bitcoin businesses how they should operate which makes things much more predictable when trying to start an entrepreneurial venture.

[James Dean]

In short, I don't think it will change much except make it clear to bitcoin businesses how they should operate which makes things much more predictable when trying to start an entrepreneurial venture.

 

Good point, I guess I get kinda panicky when the IRS points yet more guns at my face.  

[Magenta]

It's property, not money, when it comes to capital gains tax.

It's money, not property, when it comes to registering as a money services business.

 

[NumberSix]

Article:

IRS Bitcoin Guidance To Chill Its Use

http://www.forbes.com/sites/greatspeculations/2014/03/26/irs-bitcoin-guidance-to-chill-its-use/“Having to report a capital gain or loss on each purchase using bitcoin will have a chilling effect on bitcoin reaching its goal to be a widely used digital currency. Who wants to spend 30 minutes or more figuring out their capital gain or loss for a simple $3 cup of coffee? And who wants to risk getting audited by the IRS over bitcoin tax reporting to boot?”