16 Apr '13, 5pm

Bitcoin Celebrated As Way To Avoid Taxes

The issue (as I see it) is that Bit-coins have no real negotiable worth other than "Stated worth". It's not like Gold, which is in finite supply, you can't make more gold to cover a shortfall or cover growing demand for it, so Gold's value is secured in it's physical rarity.. Bit-coins are an imaginary currency - at any time somebody could wrangle something here or there with the system and release Read More... more bit-coins into the system. Imaginary things are not bound by laws of man, or reality, so are seen as unstable.. To make that point, You can't use these things in just any-old store, or broadly in any country..You have to find people as insane as you are to trade with.. To give Bit-coins any real broadly accepted trade value (other than imagined within their users - think - monopoly money), all the crazy people would have to start up their own country, trade exc...

Full article: http://www.huffingtonpost.com/2013/04/16/bitcoin-taxes_n_...

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