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RE: Are we in a Cryptocurrency Bubble?
Even if you have Bitcoin, if you spend it what are the tax implications for buying a pizza?
In NL at the moment no tax implications when using BTC or other altcoin.
Consider yourselves very fortunate that you aren't a US citizen then. Our tax structure is one of the most complicated and regressive in my opinion.
Ours in NL is also not that simple, but any complex tax system gives opportunities to establish a new business. I always look it from that point, the opportunities :)
This would be fine but the US IRS hasn't been very clear on what they want.
When US IRS is clear about it, would this not give the opportunity to automate this in the financial processing? An opportunity for an online accounting software for crypto currencies?
That is what we all want to happen and why it's so horrible that they aren't clear!