Comment Re:Kind of innevitable and entirely reasonable (Score 1) 297
Yes, capital gains, sorry. :) I was speaking loosely. I'd have gotten it right on my Schedule D, come tax time.
Another thing that plays against these bitcoin idiots is that their "currency" is limited, there will only every be 21M bitcoins
It's not as bad as that. BTC is the wrong unit of measurement here. It's only being used because we are still at the beginning of the BTC inflation ramp. BTCs are divisible down to 8 decimal places, meaning there are 100,000,000 satoshis per BTC. Eventually, at these valuations, prices will be quoted in satoshis (or, if you prefer, decimal fractions of BTC.)
Machines have less problems. I'd like to be a machine. -- Andy Warhol