[PeterPrinciple]

Since you appear to be a big player in Bit Coin and since you have philosophical and practical issues here, I will assume the you will not be writing off losses regarding Bit Coin on your tax return? You will only report profits, not losses? Am I correct?

Of course I am probably wrong in assuming there will losses regarding Bit Coin.

[Errant]

Well, I guess I'm not the brightest rock in the box when it comes to taxes, but it seems like I remember something about counting the value at the time they were mined, since the IRS has declared them to be "paintings and etc.". Therefore, some are worth a lot less than $100...

Others are worth a tad more. I'll probably file an extension and wait at least until October for software in development that will pull in the data and perform the calculations automatically. Who knows, the IRS may even issue updated guidelines and offer payments/refunds in BTC by then! Currently, preliminary back of the napkin calculations indicate treasury owes me a "refund"! :-D