We often have guest writers contribute to Bitcoin Magazine with their thoughts and opinions.
The views expressed are the authors own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc.
Over the years, Bitcoin has gained a reputation for having a “toxic” community of users around it. But there is a logical reason that some Bitcoin users get extremely angry at certain members of the greater crypto asset community.
In its latest crypto ratings, the CCID proved that, yet again, its rankings aren’t worth paying attention to and are far from objective — at least, that’s one opinion.
Are your cryptocurrency trades taxable? And how should you calculate your gains and losses and report them to the IRS?
In a SXSW panel discussion, IBM’s Christopher Ferris asked bitcoiner Jimmy Song if he was arguing for anarchy over a regulated financial system . In this op ed, Kyle Torpey posits, “Yes! That’s the whole point!”
In this op ed, CoolBitX CEO Michael Ou argues that “anonymity contributes to cryptocurrency’s notorious volatility and makes it that much less likely that digital currencies will become stable stores of value.”
Last Friday, we discussed a macro resistance level bitcoin would likely test. The level was tested three times prior and immediately rejected. Now, for the fourth time, we find ourselves situated above the level as we wait to see if our support holds.
Bitcoin remains in its tightly coiled range as the market continues its sideways trend for the third week in a row.
In the pursuit of mass adoption, decentralization shouldn’t be our goal, but instead a means to achieve the many different, and equally important, goals that exist for cryptocurrency users.
Bitcoin offers an alternative to a universal security system backed by men with guns. It creates a new model of security based on cryptographic proof that can resist unlimited applications of violence, making a bulletproof network.
An American who owns a financial interest (like bitcoin) worth $10,000 or more, or has signing authority over a foreign financial account, doesn’t necessarily have to actually pay taxes on them. But they must let the IRS know about them.
The question here is whether bitcoin mining is a single point of failure. Could a government or other authority control Bitcoin through controlling a single entity in mining? What would it actually take to “take over”?
Rather than focusing simply on what the genesis block is, today is a day to reflect on what the genesis block represents.
“If we don’t finish freeing ourselves with the open, permissionless, decentralized blockchain, they are going to imprison us with the closed, permissioned, centralized blockchain,” says Nick Spanos.
For the crypto industry, recent developments — at both the federal and international levels — signal that the time for plausible deniability or unregulated freedom is coming to an end and more traditional regulations are moving to the forefront.
Bitcoin continues to tumble lower and lower as it struggles to claim any footing in the market. It’s down almost 50% in three weeks and it’s showing very little sign of stopping. It’s currently clutching onto the $3,500 values but it doesn’t look like it can hold on much longer.
This broad, authoritative declaration is not unexpected, as, to date, the SEC has stated that all digital assets — regardless of whether they function as alt coins or utility tokens — are securities at least initially and, thus, subject to its jurisdiction.
“At the end of the day, it doesn’t matter who you are or where your politics sit. You will end up using crypto and being part of this network. Bitcoin and crypto act as a funnel and, in the end, everyone will fall through.”
Tax accountants and firms that specialize in cryptocurrency will emerge to capture and service this market. The first movers will be the ones who stand to capture the oversized profits.
Last month’s attack on Tether contains a cautionary tale: Only those coins that can survive such attacks have the slightest chance of becoming the “holy grail” of stablecoins.
“Bitcoin is turning ten, and like many of us, I feel like a proud parent, having watched it grow into its potential over the years. I guess I’m the estranged father in prison though, who can’t be there to help raise his kid.”
There are many misconceptions around Bitcoin’s energy use and why it’s required to safely and securely transact cryptocurrencies. Let’s look at the larger picture.
Dr. Jan-Willem Burgers offers an extensive, Bitcoin-specific refutation of Nuriel Roubini’s recent testimony before the U.S. Senate committee on Banking, Housing, and Urban Affairs.
This would be no stunt: Satoshi Nakamoto deserves a Nobel Prize.