The big stumbling block will be the tax situation if the IRS requires each BTC transaction on Amazon to be a taxable securities event. There will be an added cost incurred for the buyer on every purchase if they purchased their BTC at a good price.
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Good point. We need that legislation to pass where anything under $600 is exempt.
Good point on the $600 legislation, the exemption would be nice. However, my fear is the provisions could get changed on capitol hill to limit the benefit.
If the price ever goes, down, I'm sure this $600 exemption might include fine print to prevent the ability to take an investment capital loss which is a tax benefit, instead this is now a "personal" loss. I am a block-chain believer and sure hope this doesn't happen (a loss), but the current classification of Bitcoin seems to be favorable if a loss every does happen.
I also get concerned if the IRS tries to find a way to exclude digital currencies from capital asset treatment altogether, depending on how we use them in consumer transactions (losing capital gain rates on the sale).
For these fears I am trying to avoid using too much of my crypto in consumer transactions at this point.
Hi Jrcornel,
today 26-10-2017 XAUUSD is upward trend and BTCUSD is also in upward trend ,that mean Gold and BTC both have upward trend vs USD ,if you focus on technical analysis. thanks