Is a BTC or other altcoin a work of art or store of value?
Is a BTC or other altcoin a work of art or store of value? I want to hear your thoughts - I have been pushing for this discussion for years now. I believe that each "mined" proof of work coin is in fact a unique work of digital art. As such I believe it is not a tangible - nor taxable - until you sell that unique work of art for real currency or exchange it for something else of determinable real world value. Would this not solve a lot of the legal issues? What are the technical aspects of a mined "coin" represent a store of value - and thus any notation that it is a medium of exchange which is generally illegal in most countries? I propose that it is in fact a verifiable unique work with instant copyright and ownership to that person who created it. Now that causes issues for pools - does the pool which received the reward coins for a successful solved block own the unique work or is it split between all those who contributed to the pool's efforts based on the ...