Replying to 772f9545...

Suppose you want bitcoin to be money. Suppose you'd like to spend 10 bitcoin but only have 0.1 bitcoin worth of USD on hand. The tax rate is 15%. How do you send the 1.5 bitcoin to the tax man?
Avatar
Akashi Hyogo 1y ago

You acquired 10BTC for $0. You should be fine.

Reply to this note

Please Login to reply.

Discussion

77
772f9545... 11mo ago

Choices here are to sell 1.5 bitcoin for USD to pay the tax or risk going to prison. But selling 1.5 bitcoin for USD is not using bitcoin as money. There is not exactly a problem but if you want to stick to the principle of only exchanging bitcoin for goods and services a little bit of yourself dies when doing that dirty exchange.