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…

South Korean Government Concerned With Scams in Bitcoin Market, Fake Exchanges

The South Korean government and local financial authorities have warned investors about the emergence of fake cryptocurrency and Bitcoin exchanges. Fraudulent exchanges On Dec. 13, the South Korean government and its cryptocurrency task force formed by the Ministry of Strategy and Finance, Financial Services Commission, Ministry of Justice, Fair Trade Commission and Financial Supervisory Commission held an emergency meeting to discuss the state of the South Korean cryptocurrency market and draft regulations for both businesses and investors. Two of the four regulations drafted by the South Korean government during the…

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…

BitPay Stops Processing Payments Less Than $100, Backpedals Two Days Later

Bitcoin payment service provider BitPay has announced Friday, Dec. 22, that it is updating the minimum payment amount on its platform from $5 to $100, only to retract the change two days later, as reported in a blog post on Sunday. BitPay has shared an update Dec. 22, notifying its users that the platform will no longer process invoices that are less than $100 equivalent in Bitcoin, a vast increase over the previous limit of $5. The company cited unprecedented Bitcoin transaction volume and the resulting record-high network congestion and…

2017 Was Wild Ride, Eventful 2018 Seems Likely

The festive season is in full swing and those who celebrate Christmas have enjoyed turkey dinners, presents under the tree and long Christmas specials on TV. But for many of us involved in the world of cryptocurrencies, this has been one Christmas Special we will never forget. November was an extraordinary month, as Bitcoinsmashed barrier after barrier on its way to the $11,000 mark. Despite multiple corrections, time after time, the virtual currency bounced back from volatile swings in price. Some called it a bubble, others said is was just…

Israel Government Considering National Cryptocurrency

Following in the footsteps of Russia and Dubai, Israel is considering offering a national cryptocurrency – a digital shekel – which would correspond in value to physical shekels. According to the sources close to the Finance Ministry, Israel’s black market is approximately 22 percent of the country’s gross domestic product. A digital currency, registered with the government of Israel, would make black market transactions less possible. Additionally, per the news source, the government is considering legislation that would substantially reduce the amount of physical cash in the economy. For example,…

Crypto Markets Are Broken

Cryptocurrencies have captured international attention this year. Although trading currency is nothing new, it certainly feels like an ancient concept being renewed by novel technology. The rapid price increase of almost all digital tokens, which is most noticeable in Bitcoin’s 1,600 percent improvement this year, and their surprising integration into mainstream investment markets through futures contracts, has made crypto trading an appealing pursuit for many investors. In fact, with a total market cap of more than $400 bln, crypto trading is becoming one of the hottest investment opportunities available. Unfortunately,…

I Try to Make Everything Simple For the Community, Founder of Orioncoin

Cointelegraph continues publishing interviews with prominent guests of BlockShow Asia 2017, that took place in Singapore in November 2017. Woanjen Tang is an experienced asset manager. After completing a Bachelor of Civil Engineering with Ryerson University, Woanjen returned to Malaysia to hone his multinational business management experience. Projects under his leadership flourished at a commercial and residential real estate brokerage. Upon his exit from real estate, he went to Canada, where he founded Orioncoin Computing Corporation. Cointelegraph talked to Woanjen Tang, founder and CEO of Orioncoin about new startups, traveling…

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…