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Feb 8, 2006
^ Sorry I must have touched a raw nerve... don't tell me you're also mining in bytecoin Jesus?? The future of virtual currency whahahahahaha
May 7, 2013
Bitcoins aren’t real, but they’re taxable, Norway says
December 16, 2013, 10:37 AM

Europe’s war on bitcoins took a fresh turn on Monday after the director general of taxation in Norway declared they aren’t a valid currency.

“Bitcoins don’t fall under the usual definition of money or currency,” Hans Christian Holte, director general of taxation in Norway told Bloomberg in an interview.

Instead, the country will treat bitcoins as an asset and charge capital gains tax, he said.

Germany also said this year that it wouldn’t recognize bitcoins as foreign currency and gains from buying and selling would be taxable.

On the heels of a tacit approval for bitcoin by the U.S. back in November, officials across Europe have been sounding the alarm, with one former Dutch central banker likening it to the tulip bulb frenzy of the 17th century, only worse. The European Banking Authority also said it is weighing up whether to regulate bitcoins.

China has also said that bitcoin is not a real currency, and cautioned users to beware. (Coindesk said that China view is open to interpretation.)

Of course is it a real word? Bitcoin just barely got edged out by the word “geek” as 2013 Word of the Year by Collins Dictionary, unveiled on Sunday.

Still, maybe the Norway tax question will get a few others thinking about their bitcoins and taxes:

John Butler @ButlerGoldRevo

Norway now taxes #bitcoin as an ordinary asset. If the US IRS weren't embroiled in constant scandal they would have got round to this too.
4:21 AM - 13 Dec 2013
Again and again