I think the most obvious way to classify bitcoins is to consider them as a fungi... | Hacker News

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		aidenn0 on June 1, 2011 \| parent \| context \| favorite \| on: Large German lobby organization supports ban on Bi... I think the most obvious way to classify bitcoins is to consider them as a fungible commodity (like gold). Just about anybody would accept gold as payment for something, but it is still classified as a commodity tax-wise.

tptacek on June 1, 2011 [–]

What do you mean, "classified as a commodity tax-wise"?

aidenn0 on June 2, 2011 | [–]

I mean that if you were to buy a bunch of gold it is treated by the IRS the same as if you were to buy a bunch of wheat or crude oil; not as if you were to buy a bunch of euros.

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