In one fell swoop the IRS just took the wind out of Bitcoin’ sails. From the taxman’s perspective this is a clever move. It matters not what use the owner of a BTC has in mind, the IRS still gets its rather large cut (43.4% of the gain if sold within a year, up to … More Bitcoin Is Now Property
The major grudge against Bitcoin seems not so much to be that it isn’t backed by anything – remember, we’ve already established that most currencies, and therefore economies, aren’t backed by anything – but that it isn’t regulated by any established (read: government) body. Yes, cryptocoin at this stage is going to be used for … More Cryptocoin: Hedge or Grudge?
We’re already comfortable with the idea of a virtual digital currency. Most of the $16.1 Trillion dollars of the US 2013 Gross National Product was not paid out in greenbacks. And we expect that the virtual currency we do own will be well protected and properly accounted for. Such measures include encryption of the information … More Cryptocoin To The Rescue
It’s been used to buy drugs, weapons and all manner of illicit goods. Even though each one has a unique code, it’s anonymous and untraceable. It’s being stored in wallets, safety deposit boxes and slicks, yet it makes its way around the world quietly and quickly. Its fluctuations in value have made paupers into millionaires … More Bothering With Bitcoin