Bitcoin May Split Many Times in 2018

Re:Bitcoin May Split Many Times in 2018 by tehlike on Tuesday January 23, 2018 @05:05PM (#16218224)

Best effort. If you went the lengths to "cash it out" because it was free money, you should pay someone to keep track of it for you, if you don't intend to.

Wasn't the whole point of bitcoin that it was auditable? IF you know and want to use a fork for something, you can figure out the exact price fork has happened.

IF you don't know, you have plausible deniability.

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Re:Bitcoin May Split Many Times in 2018 by raybayfay on Tuesday January 23, 2018 @07:24PM (#16219237)

Responded somewhere else; but to be fair hard forks should be unrealized gain with 0 cap gains. IF/when someone wants to cash out is when they should pay the tax. It resolves the bad actor issue with scam coins; meets the need to pay tax on gains and ultimately saves everyone in bitcoin land (or other crypto for that matter) from inadvertently not declaring income. It's a win win for everyone; including the IRS. This is the most common sense approach and it stuns me that many of the couch / tax advisers are positioning otherwise.

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Re:Bitcoin May Split Many Times in 2018 by tehlike on Tuesday January 23, 2018 @08:56PM (#16219717)

I agree with this, and i hope this is how hard forks are taxed. It makes sense to me.

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