> But, does it strike anyone else as odd that the IRS ignores that bitcoin _is_ actually currency? Can they even declare it to be property when the reality is that it is currency?
"Property" is a statement about a legal relationship between a person and some (tangible or intangible) thing.
"Currency" is a statement about an attribute of a thing idnependent of its legal relationship to any person.
Whether a thing is "currency" and whether it is someone's "property" are orthogonal concerns. It can be either, both, or neither. The fact that it is one does not prevent it from being the other.
"Property" is a statement about a legal relationship between a person and some (tangible or intangible) thing.
"Currency" is a statement about an attribute of a thing idnependent of its legal relationship to any person.
Whether a thing is "currency" and whether it is someone's "property" are orthogonal concerns. It can be either, both, or neither. The fact that it is one does not prevent it from being the other.