Grayscale Bitcoin Trust (GBTC)

[Tenured]

Coin for coin interpretation is not clear in my opinion.

https://www.google.com/amp/s/www.forbes.com/sites/greatspeculations/2018/01/09/cryptocurrency-traders-owe-massive-taxes-on-fat-gains-in-2017/amp/

https://www.google.com/amp/s/www.forbes.com/sites/robertwood/2017/12/28/loophole-allows-tax-free-bitcoin-exchanges-into-2018/amp/

No one seems be able to show an example of how to determine your basis in a coin for coin swap. To me it's just the government wanting to tax something they say is a not real currency so they call it property. Just not clear how I determine a capital fail if I exchange bitcoin trading at $7000 for ethereum trading at $450. What's the amount of the gain.