IRS At A Standstill with Bitcoin; Users and Tax Professionals Remain in the Dark
The Internal Revenue Service (IRS) has halted its proceedings of how individuals should report the earnings they make from bitcoin after failing to provide additional guidance to a notice released in 2014, according to the Tax Revolution Institute. In March 2014, the IRS was reported to have released Notice 2014-21 to the masses. Their aim was to inform people how they should apply current tax regulations to the digital currency, bitcoin. However, it did the exact opposite when it stated that bitcoin was a property and not a currency for tax purposes. Under the notice, the Tax Revolution....
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Drug sales on the dark web actually increased after the closure of bitcoin-only marketplace Silk Road, a new survey has shown. Established by addiction specialist Dr Adam Winstock in 2011, the Global Drug Survey is a harm reduction initiative that seeks to provide accurate statistics on substance use worldwide. Analysing over 100,000 responses from 50 countries, the survey found the number of users buying drugs from dark marketplaces rose by 1.2% in 2014. The UK led this surge in demand, with 15.1% of British drug users buying from the dark web, a near-3% rise from the year before.....
What is behind Dark Wallet, the new plug-in browser-based bitcoin wallet designed for non-technical users, and described in the New Yorker last week? The wallet is under development by Cody Wilson, who has gained notoriety as a distributor of information that can challenge traditional notions of free speech. Wilson did not respond to requests for an interview, and little is known about Dark Wallet at present, other than what is reported in the New Yorker. The system will be designed as a wallet for mainstream users, used as a plug-in for Chrome and Firefox browsers, on Windows, Mac, and....
Bitcoin has been the de facto currency of the Dark Web - the 'hidden' Internet accessible only by Tor - since the pioneering marketplace Silk Road, the 'eBay of drugs', arrived in 2011. But just how much do we know about these new underground economies? Who is buying and selling - and what? Here's what available data can tell us about bitcoin on the Dark Web. Bitcoin on the Dark Web: the Facts
Paying a higher price can be annoying, but it is still worth it to the majority of deep web users. Plus, Bitcoin developers are working on adding privacy and anonymity to the protocol, which will benefit users of dark markets even more. The recent Bitcoin network congestion has been a topic of substantial debate on Reddit. But could it affect something as obscure as the dark markets? Despite the block reward halving, they should have no imminent need of switching to different forms of payments. It would be shortsighted to deny the success Bitcoin has on the deep web. Underground....
At least 400 dark net web domains have been reported seized and 17 individuals arrested in connection with Operation Onymous, an ongoing global cybercrime crackdown. A number of high-profile dark net markets, most notably Silk Road 2.0, have been shut down by law enforcement agencies in the US and Europe over the past 24 hours. The European Union's Judicial Cooperation Unit, or Eurojust, reported on 7th November that 414 dark web domains have been seized so far as part of Operation Onymous. All of the sites in question were accessible through the Tor network, which according to those....