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Old 11-28-2013, 08:47 PM   #293
xpl0sive
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i just read this thread... first time I've ever heard of these things... i still don't get what makes them worth money.
You guys are comparing them to foreign currency or to stocks on the exchange. To me, foreign currency is backed by governments, who have economies, which is why their currency is worth money.
stocks for various companies are worth money because the companies that sell stocks have some assets and profits which makes their stocks worth money.
What makes bitcoins worth money? Just because there's a limited number of them? What exactly are they? They aren't anything physical from what I understand like gold or diamonds, for example.

What about taxes? Do you guys declare the profits you make from trading these things? Are they considered investments by the CRA? I sure hope no one gets audited and fined for not paying taxes
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