Bitcoin and all cryptocurrencies are a set of technologies I am interested in looking at. Today's news is big.The decision is clear:

The U.S. government will treat Bitcoin as property for tax purposes, applying rules it uses to govern stocks and barter transactions, the Internal Revenue Service said in its first substantive ruling on the issue.

Apparently this means:

  • Mining as well as payments will be treated as transactions similar to stocks
  • Also similar to stocks, losses can be deducted

At the very least, this gives some guidance and even legitimacy to cryptocurrencies.