As useful as Bitcoin is, its use as a payment method runs into one serious problem: it needs electricity and an internet connection in order to function. If power goes out or the internet goes down, so does the ability to use Bitcoin as a payment. But thanks to tech-savvy Bitcoin users in Venezuela, great […]
One of the biggest uncertainties facing cryptocurrencies is their legal status and the prospect of future financial regulation. With the Internal Revenue Service (IRS) providing minimal tax guidance, cryptocurrency users and investors have been largely operating in a gray area for the past several years. One of the biggest questions to face cryptocurrency investors was […]
Central bankers aren’t the most aware people on the face of the planet. They continue to drive country after country into recession, then feign ignorance, as if inflation weren’t the product of their monetary policies. So when a central banker comments on matters of money and currency, you have to take everything with a grain […]
While Bitcoin has gained tremendously in popularity over the past decade, regulatory issues surrounding Bitcoin have yet to catch up. Among the most important of those to most Bitcoin investors were tax issues, with the Internal Revenue Service (IRS) most recently giving tax guidance on Bitcoin in 2014. Aside from being told to treat Bitcoin […]
The Bank of Canada is the latest central bank to try to get in on the cryptocurrency movement. The central bank has decided that it, too, will look at issuing its own digital national currency. But its move isn’t to try to provide a more useful or better currency to consumers, it’s to track their […]
It’s no secret that central bankers don’t like competition. Governments of any type don’t, that’s why their governments. They enjoy their monopoly and seek to squelch anything that might threaten it. That’s why cryptocurrencies have come in for such strong opposition from central bankers, as they directly threaten the monopoly of monetary control that central […]
The Bitcoin ecosystem contains a funny mix of bulls and bears. For every person who thinks that Bitcoin will hit $100,000 by the end of the year you probably have two or three who think that it will sink below $1,000. Yet despite the bearishness of many on Wall Street who think that Bitcoin is […]
One of the the reasons so many people decided to use and invest in Bitcoin was the private nature of the cryptocurrency. With Bitcoin addresses consisting of a series of numbers and letters, people could transfer money to and fro without anyone knowing who was on the other end of a transaction. Governments hate having […]
One of the highlights of Bitcoin when it was first introduced was the relative anonymity with which Bitcoin users could buy, sell, and trade Bitcoin. While all transactions are recorded on the blockchain, they merely record which addresses sent Bitcoin where, with no one being able to tie a single address to an individual person. […]
Coinbase is perhaps one of the best-known cryptocurrency exchanges to most Americans. But the company was just recently the target of a very sophisticated and long-developing hack attempt. Using various methods to develop an attack, hackers sought to penetrate Coinbase and ultimately make off with significant amounts of cryptocurrency. Thankfully the hack was detected and […]
