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A comment on IRS sends warning letters to more than 10k cryptocurrency holders. Parent comment

Re:IRS sends warning letters to more than 10k cryptocurrency... by kosievdmerwe on Friday July 26, 2019 @06:33PM (#20538936)
Well a lot of people are treating cryptocurrencies as speculative assets. ICOs wouldn't have been such a big thing if people didn't do that.

So why shouldn't the IRS do the same?

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Re:IRS sends warning letters to more than 10k cryptocurrency... by patrioticaction on Friday July 26, 2019 @06:38PM (#20538977)
The ICO market crashed and trading volume on crypto exchanges keeps dipping lower and lower and lower. Its main use-case has shifted back to currency after a failed bid as a security.
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Re:IRS sends warning letters to more than 10k cryptocurrency... by mirekrusin on Saturday July 27, 2019 @02:15AM (#20540666)
Can you refer me to the source of "crypto exchanges [volume] keeps dipping", please? I'm looking at BTC volume and it's not dipping at all. There was a sharp drop in Jan '17 when Chinese exchanges were forced to close. Other than that volume correlates to the price.
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Re:IRS sends warning letters to more than 10k cryptocurrency... by kosievdmerwe on Friday July 26, 2019 @06:59PM (#20539085)
This is a relatively new change though, as in the last year/couple of months. So I wouldn't expect the IRS to have shifted it's treatment. Especially in the context of 2018 taxes.
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