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Author: Bitcoinist

Tax Attorney: Blockchain Immutability ‘Does Make The IRS Smile’ (Interview)

Bitcoinist spoke with Alexander Stern, legal attorney and founder of Attorney IO, to unpack the complexities related to Bitcoin and cryptocurrencies taxes, potential loopholes for users, and how the IRS can easily track individuals using Bitcoin compared to fiat currencies.  The fact that a lot of this is on a blockchain (and cannot be tampered with) does make the IRS smile. – Alexander Stern Bitcoinist: First, how and for how long has your law firm

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‘Losing Credibility’? Ethereum’s Vitalik Buterin Hints He’s Pro-Establishment

Ethereum cofounder Vitalik Buterin seemed to confirm he is “establishment-friendly” in a new interview which has led to a critical reception from cryptocurrency figures. ‘Very Revealing’ Speaking to the Financial Times in a piece published April 18, Buterin was economical with his words but provided some “very revealing” information. Specifically, his links with the Russian government following meetings about Ethereum last year appear to have made Buterin more tolerant. “He has explained he’s establishment-friendly these

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DAOstack – The ‘WordPress’ for DAOs

DAOs (decentralized autonomous organizations) might just be one of the most revolutionary concepts to come out of the blockchain world. DAOs are organizations in which contracts and agreements are enforced through blockchain smart contracts. Because no overseeing force is needed to authorize a smart contract, (just as no overseeing force is needed to authorize a Bitcoin transaction) DAOs have radical potential to create distributed and decentralized organizations. If DAOs are going to fulfill that potential,

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Bitcoin Buy Demand Highest Since March 2017, Exchange Data Shows

For the first time since March 2017, Bitcoin ‘buy’ orders have surpassed 90% of the total placed on cryptocurrency exchanges. 9/10 Want To Buy Bitcoin Linking to data from TurtleBC, p2p exchange HodlHodl described the trend as “indicating there is more demand for Bitcoin than supply.” “This is also an indicator of market sentiment among those who are buying and selling Bitcoin,” it added. A 90-10 ratio effectively means that 90% of the interested investors

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Russia Blocked Telegram Because Crypto Is ‘Uncontrollable,’ Says FSB Memo

Russian authorities blocked Telegram because they would not be able to “control” its new cryptocurrency, likening it to ponzi scheme Mavrodi Mondial Moneybox (MMM). FSB: Telegram TON Token Makes CEO ‘New Mavrodi’ According to a letter which Roman Antipkin, an official with security service the FSB, wrote to colleagues April 18, Telegram CEO Pavel Durov had “decided to become the new Sergey Mavrodi.” The name-drop reference Mavrodi’s notorious MLM ponzi scheme which originated in Russia

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Bitcoin Boosting Square Earnings

Since Square, Inc. added Bitcoin trading capabilities to its payment app, the value of its stocks has increased spectacularly. Dan Dolev, an analyst at Nomura Instinet, believes this ascending trajectory will most likely continue. As a result, Nomura Instinet raised its Square target price to $65 USD. Bitcoin Makes Square Profitable Dan Dolev predicts a “sizable boost” to Square’s revenues and profits in the first quarter, thanks to Square having added Bitcoin trading features on

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Mobile Crypto Mining Democratizes Cryptocurrency for Everyone

Of all extant cryptocurrencies – over 1,500 – those restricted to mobile platforms, wallets, and exchanges comprise a fairly small portion. Yet despite ERC20 and utility tokens’ dominance in the ICO landscape, there is a high potential for mobile-only cryptocurrencies to democratize mining and dramatically decrease transaction costs. Potentially, this makes mobile-based cryptocurrencies, in aggregate, a foundation for tangible and tractable work to reverse the remaining and foundational problems seen with dominant cryptocurrencies today. The

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Venture Captalists Pour $133 Million into Stablecoin Startup

ICOs and cryptocurrency startups have been slumping recently due to the bearish signs which were seen in the first quarter of 2018. However, Basis, a promising start-up, has broken that trend by raising over $133 Million U.S. in private funding. A cryptocurrency startup by the name of Basis (formerly named Basecoin), has just announced that they have raised over $133 Million dollars in funding from well-known venture capitalist firms. Three Princeton grads just got $133

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Cryptocurrency Startup BitDegree Pays Students To Learn

BitDegree, a Lithuanian cryptocurrency startup, hopes to help change the face of online education through their online platform and cryptocurrency. So What is BitDegree? BitDegree is an online platform, with its own native cryptocurrency, that was founded at the start of 2017. BitDegree intends to revolutionize how education functions today and allow prospective users to learn technology-based skills through online courses. BitDegree utilizes companies looking to hire employees to help fund online courses for such

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Blockchain Expo Global – Crypto La La land

Crypto markets are maturing, it remains to be seen how many companies that have raised money by issuing tokens will be alive in the next two years.  For anyone serious about blockchain technology and ICOs, Blockchain Expo Global is a must event to attend and this year, the event has attracted even more visitors than before. Held in London, UK, the event itself is a 2-day exhibition and an opportunity for companies to pitch and

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Got $45 Million in Bitcoin, Ethereum, or Ripple? Buy a House Near Fifth Avenue

Listing properties for Bitcoin is an emerging trend. Now, one cryptocurrency believer is opening up his six-story brick-and-mortar home on New York’s Upper East Side for purchase with Bitcoin, Ethereum, and Ripple. Living Large If you’re a resident of New York and looking to move up to the big leagues, a 22-foot-wide, six-story, marble-and-limestone house at East 76th Street near Fifth Avenue is now available for purchase with the three leading cryptocurrencies. The property in

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Saxo Bank Outlook: Crypto Bull Market Could Return in Q2 2018

Saxo Bank analysts have called the beginning of a new period of growth for cryptocurrency prices, eyeing Q2 2018 as a “springboard” for fresh upside. ‘Self-Fulfilling Prophecy’ In its Quarterly Outlook this week, the famously pro-Bitcoin institution said a mixture of global political uncertainty, tightening of credit access and commodities volatility could all see new money pouring into crypto markets. “In addition to the possible increase in regulations leading to further declines in the short

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