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DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Bitcoin is taxable. Troub... » Reply #3

Response to lettucebe (Original post)

Mon Feb 8, 2021, 01:47 PM

3. That's the point: Bitcoin isn't currency. It's a bartered good.

Currency has been issued by some sort of organization. But Bitcoin is an object, a piece of code, that is not tied to the oversight of any organization or bank or state.

For example: If counterfeiters find a way to make counterfeit coins or bills or if the integrity of the currency is threatened in any way, then there is someone responsible for taking care of this and ensuring the value of the currency. But Bitcoin is static. Bitcoin is fixed. If something goes wrong with Bitcoin, there is no authority-figure who takes the responsibility for fixing it.

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lettucebe Feb 2021 OP
BSdetect Feb 2021 #1
qazplm135 Feb 2021 #2
LineNew Reply That's the point: Bitcoin isn't currency. It's a bartered good.
DetlefK Feb 2021 #3
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