Making Money Stuff.

There is new news about Bitcoin, that the government has started to ask for the tax identification numbers of people that transacted more than 20,000 dollars worth of Bitcoin in a year. What this is trending to is that Bitcoin will be taxed in the future. It is online currency, and changing between currencies is not taxed, but the government decided to consider Bitcoin as an investment and therefore will require paperwork. This is terrible news to me personally. This means that I will have to deal with the exhausting and overwhelmingly confusing paperwork with the BIR if I end up wealthy from my Bitcoins. That paperwork is terrible and horrible which is why I decided never to earn more than 10,000 pesos a month as an online worker to remain below minimum wage and be exempt from taxes. I think if I end up with a lot of money from Bitcoin in the future, what I will do is only withdraw 10,000 pesos a month from it so that I will still stay within minimum wage. From what I read, the Bitcoins are only taxed when they are converted to currency with an exchanger, not while they are still Bitcoins.