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WARNING The IRS to tax Millions of Bitcoin Trades

To all US bitcoin traders you are now in the sights of the internal revenue service for not complying to report your trading gains. The IRS have decided that a share of up to $150 billion of bitcoin trades should go to the lovely US treasury, and is now taken steps to make this happen. All the IRS is waiting for, is a judge from San Francisco judge to grant an order that will allow an audit of one of the largest US cryptocurrency exchanges “Coinbase Inc”. The ruling will open the door for the IRS to investigate files of...

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Billionaire Ken Griffin Sees Signs of Bitcoin Bubble

The hedge fund CEO and founder of Citadel today spoke with CNBC and announced that he sees signs of the bitcoin bubble happening. Speaking to CNBC he says: "Bitcoin right now has many of the elements of the tulip bulb mania we saw back hundreds of years ago in Holland," he said in an interview on financial news channel CNBC. “I think what is happening is people confuse bitcoin with blockchain." "I get very worried that people that are buying bitcoins don't really understand what they're participating in other than the headline stories that it keeps going higher and 'I...

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Amazing Things Happening with Bitcoin, fancy A full set of Retro Games. Just 1.6 Bitcoins!

I like to browse the local ads for retro gaming items. It just takes me back to fond memories of Jet Set Willy on the Zx Spectrum with its sexy rubber keys or maybe you are more of a Resident Evil fan on the PS1. That moment the dog jump through the mirror, I literally soiled my pants. As I was looking through the ads there was one ad in particular that caught my eye. A full set of PS2 games, 2500 in total. This made me look and to my surprise they were asking for payment in Bitcoins. This...

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How is a Bitcoin made?

So far in this series, we've already talked about what Bitcoin is, about how you can buy it, and how you can spend it, but how is it actually made? Bitcoin vs. Gold The short answer is that new Bitcoins are mined. However, since that is just giving a label, rather than a definition, you’re probably going to want to know a bit more than that. It’s perhaps easiest to compare Bitcoin to its nearest physical equivalent: gold. Just as existent banking systems are (or at least were) based on the quantity and value of gold in a given country’s...

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Bitcoins Surge could be start of the end for Crypto Currency

We have seen a huge jump over the weekend and could exceed $10,000, however we have seen in the past that the bigger the bitcoin bubble, the higher the likelihood it will burst. This is what some experts say. The poster boy of bitcoin reached an all-new high value. This saw all publicly traded cryptocurrencies take a boost, which include Ethereum. Ethereum jumped to $486, this is the first time it’s crossed the $400 mark. So why will the bubble burst? In September, the bitcoin soared beyond expectations by reaching $5,000, but then the cryptocurrency dropped by more than 16%...

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