16.12.04

New Scientist - Virtual island sells for $26,500 in cyber assets

Right, so now he owns a virtual island and plans to sell off assets. Except Project Entropia has a 10:1 cash exchange with US dollars. So I wonder what the real world tax bill is going to be. Is it in escrow until he pulls it out? Like you don't pay capital gains on stock until you sell?

No comments: