The major tax myths about cryptocurrency debunked
More crypto tax enforcement is coming, and many taxpayers are complying going forward, and amending prior returns if they have something to clean up. Crypto and taxes may not be a match made in heaven, but taxes seem inevitable, and the United States Internal Revenue Service (IRS) has made it clear it is going after people who don’t report. With IRS summonses to Coinbase, Kraken, Circle and Poloniex, plus other enforcement efforts, the IRS is on the hunt. The IRS sent 10,000 letters in different versions asking for compliance, but all were nudges to encourage taxpayers to be compliant.The....
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We've all heard them before. As a groundbreaking innovation, bitcoin naturally attracts skeptics just as strongly as it attracts supporters, and the technical and theoretical complexity of the digital currency can cause a considerable amount of confusion with those who are not 'in the know'. The result is that critics of bitcoin oftentimes fall back on one or two euphemisms to express why they think it will never succeed - simplified statements like "bitcoin is a ponzi scheme" that higlight often misunderstood characteristics of the digital currency but rarely fully address the situation.....
Bitcoin has several persistent myths about it that just refuse to die. Stefan Molyneux and Erik Voorhees dispel the myths and talk about the reality of the predominant cryptocurrency. Erik Voorhees is the co-founder of Coinapult, worked as Director of Marketing at BitInstant, and was founder and partial owner of the Bitcoin gambling website SatoshiDice. Follow him on twitter at: https://twitter.com/ErikVoorhees
With the international attention on El Salvador’s historic adoption of Bitcoin, some critical myths have emerged that are in need of busting.
The privacy issues associated with Bitcoin make it unsuitable for any illegal purpose in general. For several years now, there seem to be a lot of myths surrounding Bitcoin which need to be clarified and rectified. Several of these topics keep returning on a regular basis, showing an apparent lack of education as far as mainstream media is concerned. It is not all that hard to get some basic facts about Bitcoin right in the first place. Debunking Common Bitcoin Myths. One of the most often heard comments is how Bitcoin has a CEO or leader, which is not true. Bitcoin has a creator, who goes....
With everything that’s taking place in the blockchain sphere today, many facts have blurred into myths while several myths have become facts. New technologies usually, bring with them mixed reactions from audiences. But as far as blockchain is concerned, Evan Luthra is here to bust the top misconceptions surrounding it. Evan Luthra is a serial […]