Bitcoin is property, not currency

[Catherine]

And tracking this nonsense would be an absolute nightmare - and people won't do it.

http://www.bloomberg.com/news/2014-03-25/bitcoin-is-property-not-currency-in-tax-system-irs-says.html

[Eric]

Seems logical to me. It has more in common with silver and gold than currency. They are a commodity (although imaginary) that can be "mined", there's a finite amount available, it has a market value that fluctuates, but not a value that can be easily manipulated.