the irs clfbs it as property and not currency. when you use it to buy something. think about the stock. you sell the stock for it the bitcoin. that's the sell and you buy something else. and if you bought and sold with a profit, you pay taxes on that. >> go over that again. >> yeah. >> $1,000 worth of bitcoin. i bought at $100. it's now $1,000. i take the bitcoin and i don't cash it but i take the bitcoin and pay you for something. >> yes. >> am i still taxed on that? >> you are. >> even though you sold me an object? >> absolutely. >> there's no reason to use bitcoin ever. >> i don't recommend doing it. unless you can actually put the tax aside and save that amount. i don't think people are aware of that. >> no. >> and the issue is that the irs came up with a tax rule on krip tow currency in 2014. one year later in 2015 only 802 people mentioned it on the tax returns. >> my understanding is the irs is basically taken a crypto to court to say you need to give us about the information who have been trading. that's one. how many others will it be? >> yeah. >> there w