Are Bitcoin Tax Records Ever Optional With IRS? Expert Blog

Expert Blog is Cointelegraph’s new series of articles by crypto industry leaders. It covers everything from Blockchain technology and cryptocurrencies to ICO regulation and investment analysis. If you want to become our guest author and get published on Cointelegraph, please send us an email at mike@cointelegraph.com. Cryptocurrency may be a new topic for the IRS and taxpayers to tackle but tax records are certainly not a new issue. Since the dawn of the income tax, some taxpayers have struggled with this, and the IRS knows it. At tax time, many…

Mining With Energy From Humans

Is it truly possible to harness energy from the human body to power cryptocurrency mining rigs? A Netherlands-based technology company, Speculative.Capital has pioneered a project that explores the possibility of harnessing energy from idle human subjects. To do so, the company created body suits that turn body heat into electricity from human subjects to power computers that are mining cryptocurrency. According to their website, 37 people were involved in the project. The concept is pretty simple, a subject lies down for a few hours while the body suit harnesses energy…

Bitcoin-Only Charity Fund Donates $1 Mln To Internet Archive

Pineapple Fund has donated $1 mln in Bitcoins to the Internet Archive this Saturday. Pineapple is a Bitcoin-only charity established in early December 2017, whose ultimate goal is to give $86 mln worth of Bitcoin to various nonprofit organizations. For early adopters, Bitcoin’s massive rise in value has been a remarkable ride from rags to riches, and some are now deciding to give back. The Pineapple Fund has been launched by an anonymous person who goes by the username /u/PineappleFund on Reddit. The donor has created a website to issue…

Buy, sell, send and receive Bitcoin Cash on Coinbase

We’re excited to announce that customers will be able to buy, sell, send and receive Bitcoin Cash on Coinbase. You can read more about Bitcoin Cash on our FAQ page. Sends and receives are available immediately. Buys and sells will be available to all customers once there is sufficient liquidity on GDAX. We anticipate that this will take a few hours. See our update below. Our customers should benefit from forks Coinbase operates by the principle that our customers should benefit to the greatest extent possible from forks or other networks…

Enterprise Blockchain is in a “Trough of Disillusionment”

There are few people who have worked in the blockchain technology space for so long and maintained such a seemingly disinterested and skeptical perspective on the emerging technology as Tim Swanson. Through numerous books and a blog, Tim has shown a knack for going out of his way to do deep market research within the blockchain space. This week on Let’s Talk Bitcoin, Tim Swanson, Director of Research at Post Oak Labs, talked with Epicenter’s Brian Fabian Crain and Sebastien Couture. His most notable work within the space has happened…

Expect Some Lower Lows Before the Next Bounce

Two days ago, I outlined a potential BTC-USD price breakdown due the broken hypodermic trendline.  Since then, the price has dropped nearly $7,000 and is showing signs of further downward continuation.  Let’s take a look at the chart from the last BTC-USD market analysis: Figure 1:  BTC-USD, 4-Hour Candles, Trend Prior to Breakdown As you can see, the price was holding on by a thread near the red, hypodermic trendline.  Once it managed to break this trend, the price immediately and aggressively dropped.  Thus, the market signaled the end of…

Fedcoin Could Be Coming Soon, But Would It Really Challenge Bitcoin?

The idea of “Fedcoin,” a cryptocurrency sponsored by the U.S. government and managed by the Federal Reserve, has been around for quite some time. “Imagine that the Fed, as the core developer, makes available an open-source Bitcoin-like protocol (suitably modified) called Fedcoin,” a Federal Reserve VP speculated already in 2015. The idea gained traction also in Europe in connection with the financial crisis in Greece, and was notably discussed in a “Eurocoin” context by former Greek Minister of Finance Yanis Varoufakis. Earlier this year, Nobel Prize–winning economist Joseph Stiglitz said he believes “very strongly” that…

Bitcoin Drops, But Investors Are Encouraged to Hold

Bitcoin, along with many of the other cryptocurrencies, has witnessed a dramatic price drop Friday, with Bitcoin losing almost 50% at its lowest compared to the $20,000 high it had achieved at the beginning of the week. Currently, the coin’s price has readjusted to $14,860 since falling, so already it looks to be in a recovery phase – and this is what many analysts are focusing on and using to keep the calm among the crypto investors. Many analysts are encouraging investors, especially new-to-the-block investors, not to panic about the…