In the US at least you're technically required to calculate capital gains on *everything* you purchase with Bitcoin. $4 cup of coffee, $20 book, $50 meal... IRS expects you to break out the spreadsheet and calculate FIFO/LIFO basis on every single purchase. Can you imagine doing that for a *full years* worth of purchases? This, to me, is problem #1 for mass adoption.

Replies (2)

That sounds like those sales taxes I heard about in history class. Something about paying taxes on tea or some shit like that.