In the U.S., it seems absurd to even consider Bitcoin (or any other cryptocurrency) for small day-to-day transactions like Steam purchases. Under the current IRS guidance, every sale or exchange of cryptocurrency is a taxable event.

That means that for every $10 game you bought with Bitcoin during the last summer sale, you now have to calculate the cost basis, capital gains, etc., of the BTC you used, and list it on a Form 8949 in April.