Watching the world clash over digital currencies has been something a little odd for me. My country or origin Australia has legalised bitcoin since 2013 and I'm even able to purchase things with it [Source](https://zipmex.com/au/learn/is-bit...
It's one of the biggest issues with crypto and our current system. We don't know how to treat them tax-wise and there is no real clear way of knowing everything without looking up everything. Maybe at some point we will just have a robot tracking our trades and not have to worry
So, bitcoin is considered an asset and not a currency?
Mel you are correct! 11 SBD is of course a steal. Hive I can't say.. maybe if Bitcoin has a floor 20k Hive will be .25 cents.. I know that sounds bearish but it's much higher than the bear market we had.
Yeah i myself used the hobby provision as a youngster doing night club lighting on a Sat night. It did cross my mind that hive blogging could possibly come under that. It will be interesting to see the ato's response.
No worries. Thanks for your input. I think ill contact the ato and see what they have to say. At least that way there's something in writing. Like you, my generated on paper income isnt much to be overlay concerned about but would rather have a clear direction on it. Cheers
Thanks for the update about the tax situation here in Aus. Will have to look into it.
Do you know off hand if the earnings from the hive network are only reportable if realised or are all on paper gains considered income?
Because Australia doesn't fit the narrative of the "loud-mouthed maxi minority" on Twitter and stuff.
They believe poor people with no money and resources are gonna lead the way in financial revolution while completely disregarding the fact that their 100x gains come from formidable institutions an...