Naomi Brockwell: Does Bitcoin's Fungibility Mean Paying More Taxes?

  • Friday, 11 January 2019 19:14
Naomi Brockwell: Does Bitcoin's Fungibility Mean Paying More Taxes? © Naomi Brockwell
All currencies work as if the tokens of money in circulation are interchangeable with one another. This fungibility means a dollar is always worth another dollar. Bitcoin is no different. However, money can also act like a unique and discrete asset. A coin’s rarity, age, or its easiness to spend can gain or lose it additional value. These opposing sides come into conflict when capital gains tax is applied to a sale of a coin and how a seller must pay a percent of the profits to the government. In this video, I explain how if tax laws assess bitcoin as fungible it could mean paying higher taxes than if it’s a commodity. If you liked this video, please subscribe! Please visit my page on BitBacker.io, which is like patreon (and superchat) for crypto! https://bitbacker.io/user/naomibrockwell/ HUGE thank you to all my AMAZING BitBacker AND Patreon supporters! Patreon.com/NaomiBrockwell And a GIANT thank you to my sponsors: Nelly's Organics (https://nellysorganics.com/) Decentranet (https://decentranet.com/) HardFork Entertainment (http://hardforkentertainment.io/) Fort Galt (https://fortgalt.com/) Horizen [formerly Zencash] (https://www.horizen.global/) (Horizen telegram: https://t.me/zencash) Thanks for watching!! Leave a comment below and come say hi to me on: Twitter (@NaomiBrockwell) Steemit (https://steemit.com/@skycorridors) Telegram (https://t.me/hijinxandhightea) Bitchute (https://www.bitchute.com/naomibrockwelltv/) Podcast: https://soundcloud.com/naomibrockwell/tracks https://itunes.apple.com/us/podcast/bitcoin-blockchain-and-the-technologies-of-our-future/id1332680060?mt=2 Songs: Freenauts - Third Party Girl https://www.youtube.com/watch?v=tfZZkKr-YsU BTC: 37xcH3CgPUZNHDnhsihcZprHDdSD2ST8m1 BCH: bitcoincash:qrvq77guzjajf549g727dastmxrf2jsgjsl34rjfg8 Dash: XwdzPHwqVnCpJAnqJHEzxrJyPcBTCGLA2T Zcash (ZEC): t1efmA8uL5AZtrA1C4EBet8kE65zPPnj9eV ETH: 0x7603d2c5C00266D5d155a651840eaa22aef590dA

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