Tag: money

On April 9, the chief of the NYSE declared that crypto trading is an area that they cannot ignore, and stated that people trust the mysterious creator of Bitcoin, Satoshi Nakamoto, more than they trust the Federal Reserve (or ‘the Fed’), the central bank of the world’s largest economy. In this article, we answer the question, ‘why do some people…

READ MORE

The Internal Revenue Service (IRS) released an official reminder to taxpayers that they need to report any income in the form of virtual currencies on their income tax returns. On March 23, 2018, the IRS deemed that cryptocurrency transactions are taxable by the law. Any taxpayer who does not report their virtual currency transactions can be audited and liable for…

READ MORE

Bitcoin and crippling student loans, the two things which are defining the financial futures of most college students in America. According to a survey held by Student Loans.net, college kids are using money from their student loans to buy bitcoin and other digital currencies. The Student Loan report polled over 1,000 students for purposes of this survey and found out…

READ MORE

Give it another ten years and bitcoin will emerge the single currency of the internet, as opposed to more than 1,000 different digital tokens circulating today. As for fiat-equivalence, the most widely used cryptocurrency in the world could even overtake the U.S. dollar in importance. Skeptical as you probably are about the predictions above like many of us, they are…

READ MORE

Charlie Schrem, the former CEO of bitcoin startup BitInstant, went to prison a few years back. It was found in 2014 that his service was used to facilitate illegal transactions on the former Silk Road black market. Charlie went to prison in 2015 for this, and so like any true bitcoin fan, he created a thought experiment to consider how…

READ MORE

In yet another forward-thinking maneuver, the German Federal Ministry of Finance has released a report on Tuesday, February 27, outlining taxable events regarding bitcoin payments. Specifically, the financial authority looked into how to tax miners, cryptocurrency transactions, and the taxable role that exchanges play in the ecosystem.  Whatsmore, the document based these statements on the contents of the European Union’s…

READ MORE

Microsoft co-founder and the world’s former richest man Bill Gates has raised concerns about cryptocoins being used for financing criminal and other illegal activities. During a Reddit ask me anything session (AMA) on February 27, 2018, he squarely blamed cryptocurrencies for causing death in a fairly direct way. His remarks were in reply to a question asked by another Reddit…

READ MORE

Curtis James Jackson III, better known as the rapper ‘50 Cent,’ has just realized that he is a bitcoin millionaire. He was one of the earliest musicians to be associated with cryptocurrencies in 2014. During the worldwide release of his album Animal Ambition at the time, he was also the first one from the music industry to accept bitcoin payments….

READ MORE

In a recent announcement the Grand Mufti of Egypt, Sheikh Shawki Allam, suggested he would be in favor of a ban on cryptocurrency trading. In referring to Sharia law, the moderate Sunni leader cited its capacity to fund terrorist activity and lack of formal backing as reasons for his endorsement. Islamic Finance and Sharia Law The western principles of finance…

READ MORE

While many cryptocurrency projects focus on hype and marketing, Monero has worked on getting the foundation right first before engaging in outreach. More than three years after its birth, the community is now undertaking a clever guerilla marketing campaign to spread awareness and encourage broader adoption by individuals. The plan, known as Stamp Monero, is to use ink stamps to…

READ MORE