
Bitcoin transactions taxable, says GAO - rubikscube
http://thehill.com/blogs/regwatch/finance/306015-bitcoin-transactions-taxable-says-gao
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chiph
I think intent matters here.

If I exchange currencies because I intend to buy goods & services with it,
then it's no different than stopping by a Thomas Cook/Travelex.

However, if I'm trading in & out of Bitcoin because I'm arbitraging it, then
I'm a trader, not a traveler. And should pay tax on the profits.

