Despite the billions of dollars (which is projected to be trillions in 2018 according to a September 2018 Satis Group report) flowing in and out of the various cryptocurrencies such as Bitcoin, Ethereum and Litecoin, the United States taxation of these products is governed mostly by Internal Revenue Service (IRS) Notice 2014-21 issued back on March 25, 2014. With regards to the nuances and uncertainties not covered by the notice, the IRS has chosen to remain mostly silent.