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Friday, August 22, 2014 9:34:26 PM
"IRS treats Bitcoin as property. The IRS recently issued guidance stating that it will treat virtual currencies, such as Bitcoin, as property for federal tax purposes. As a result, general tax principles that apply to property transactions apply to transactions using virtual currency."
http://www.sec.gov/oiea/investor-alerts-bulletins/investoralertsia_bitcoin.html#.U_fsXJKbhR9
According to the SEC, Bayside should have listed their bitcoins on page 8 in the last paragraph. The heading of this section as listed by Bayside is...
"The goal of this section is to provide a potential investor with a clear understanding of all assets, properties or facilities
owned, used or leased by the issuer."
So just like listing all the pipes, motors and such at their oil operations, they should have listed the Bitcoins (if they owned any) and told where they are at because they ARE PROPERTY (asset).
If there is a disagreement, please give a link and proof other than "we decided it on this board".
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