who cares what the U.S. government labels it? (other than as it relates to the taxation scenario)
Wouldn't you be double taxed, i.e, sales tax on the bitcoin "property" then sales taxes on whatever you purchase with it.
I'm thinking there would be legal differences should you have fraud or a dispute. IIRC the laws are stricter on posta/credit card fraud due to theft of currency, but someone stealing your bitcoin would be a lesser crime based on the value of the property stolen.
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