The IRS treats Bitcoin that is ‘mined’ differently than Bitcoin that is ‘bought’ For the IRS, buying Bitcoin has a completely different classification than Bitcoin after it is mined. For those who buy it, virtual currency is not treated as cash; it is treated as property.  Because it’s treated as property, and not as currency, it means owners have to track the price of it from when they buy it until when it is sold or used. Because there is no set price for the digital currency, as it trades on numerous exchanges, investors may even want to break down purchases by where it was acquired.
The Heart Beacon Cycle patent in publication stage, has both land / property survey techniques in Telco mesh fabrics AND currency valuations across time / space embodiment's -- essential to sorting out Bitcoin New Economic Eco-system of systems with the old paradigm
SEE: IRS Notice 2014-21 - Internal Revenue Service  LINK

FEDCOIN "On the desirablity of a goverment cryptocurrency" David Andolfatto P2P Finacial Systems Ffm Saint Louis Federal Reserve LINK


CNN Money has put Bitcoin under the category of stocks. It simply means that the digital currency is not associated with any government, but is simply an investment vehicle. According to the International Standards Organization (ISO), if an asset holding value is not backed by a nation, then it starts with an “X”. For instance: Gold is internationally denoted as XAU. The term “XBT” for Bitcoin comes from the same ISO. Time to change the X to B using Thomas Edison et all's commodity indexing concept. Time to change the X to B using Thomas Edison et al's commodity indexing concept  See TERRA Trade Reference Currency proposed by a Belgian economist 70 years after Thomas Edison Source: Article CNN Money Introduces Bitcoin Ticker XBT  Bitcoin News Service NEWSBTC