Overstock Plans to Pay Some of Its Taxes in Bitcoin

Overstock Plans to Pay Some of Its Taxes in Bitcoin

One of the key aspects to the adoption of any currency throughout history has been the ability for people to use the currency in payment of taxation. That was the case for metal coinage, paper money, and now for cryptocurrencies. With Ohio’s announcement late last year that it would begin to accept Bitcoin as payment for taxes, that set the stage for Bitcoin to finally gain acceptance as a viable currency. Now online retail giant Overstock has announced that [...]

January 17, 2019 By Adam Gardiner

New York state forming Bitcoin task force

New York State to Form Task Force to Study Bitcoin, Blockchain, and Cryptocurrencies

The government of the state of New York has become infamous among Bitcoin enthusiasts for its antipathy towards Bitcoin and cryptocurrencies. With the world’s financial center residing in New York City, it would only be natural for New York to become a center of Bitcoin and cryptocurrency innovation. Yet the New York government continues to put roadblocks in the way of Bitcoin firms. The vaunted BitLicense, which was supposed to provide a framework through which cryptocurrency firms could get licensed [...]

January 14, 2019 By Ryan Tucker

Bitcoin ATM Numbers Doubled in 2018

While the mainstream media focused on the drop in Bitcoin’s price in 2018, Bitcoin users and investors doubled down on their adoption of the radical cryptocurrency. Bitcoin ATMs, which allow users to buy and exchange Bitcoin, became much more popular in 2018, with an almost perfect doubling in use from 2,025 machines in 2017 to 4,051 in 2018. That demonstrates that price movements aren’t an impediment to the further adoption of Bitcoin. The United States remains by far the most [...]

January 10, 2019 By Adam Gardiner

Bitcoin and Cryptocurrencies Trading Lower? There Are a Few Benefits

Many investors are undoubtedly unhappy that Bitcoin is well away from its $20,000 highs. That goes the same for cryptocurrency miners too, many of whom are idling their equipment or even trying to get rid of it as Bitcoin has dropped below the price needed for many miners to recoup their energy costs. But with Bitcoin’s price dropping there are still several benefits that both investors and users can take advantage of. Less Difficulty Mining As the prices of Bitcoin and [...]

January 7, 2019 By Ryan Tucker

What Will 2019 Bring for Bitcoin and Cryptocurrencies?

To many cryptocurrency investors who got in at the height of the craze in late 2017 and early 2018, the rest of 2018 seemed like a bitter disappointment. From highs of $20,000 Bitcoin seemed to crash and burn, ending the year at around $4,000. But what many of those fair-weather friends fail to remember is that Bitcoin started out 2017 at under $1,000. That means that in just two years investors quadrupled their money. There’s not a stock or [...]

January 3, 2019 By Adam Gardiner

Have ICOs Tipped the Cryptocurrency Power Balance Towards Regulators?

If cryptocurrencies were the talk of 2017, initial coin offerings (ICOs) were the talk of 2018. But while ICOs got a lot of attention from investors in 2018, they also attracted a lot of attention from regulators. With such a hot cryptocurrency market fraudsters began to infiltrate. US authorities shut down numerous ICO operators, prosecuting and fining some of them for their actions. Many foreign regulatory authorities took similar measures. Now the question is, has the renewed attention from [...]

December 27, 2018 By Ryan Tucker

A Dozen Large ICOs Yet to Launch: Slow to Market, or Fraud?

If there was a hot trend in cryptocurrencies this year it was initial coin offerings (ICOs). With cryptocurrencies starting off 2018 at the front of everyone’s minds, numerous companies sought to jump into the field by offering various coins. Many of those coins operated in a way similar to securities, raising funds for the company by promising users various goods or services or a share in returns of the company’s project once the ICO launched and the projects were [...]

December 20, 2018 By Adam Gardiner

Venezuela’s Petro Is Getting More Valuable… Or Is It?

Barely a month after its first sale, Venezuela’s oil-backed cryptocurrency the petro has more than doubled in value. That’s a great sign, right? Well, not really. The petro’s value is pegged to the Venezuelan bolivar, and the bolivar continues to weaken as a result of the Venezuelan regime’s hyperinflationary monetary policy. So the revaluation of the petro from 3,600 bolivars to 9,000 bolivars isn’t really a sign of the petro’s strength but rather of the bolivar’s weakness. The petro continues [...]

December 17, 2018 By Ryan Tucker

World Leaders Still Don’t Get Cryptocurrency

In the wake of the G20 meeting in Argentina last week, the G20 leaders issued a joint statement that they would “regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards.” That sounds like a throwback to the days when Bitcoin was new and edgy, and telling people you were involved in Bitcoin got you plenty of jokes about the online criminal underworld. But as cryptocurrencies have gone mainstream and received much more [...]

December 13, 2018 By Ryan Tucker

Floyd Mayweather and DJ Khaled settle with SEC

Crackdown on Mayweather, DJ Khaled Shows Authorities Getting Serious About Crypto Fraud

In a sign that federal authorities are getting serious about cracking down on fraud in the cryptocurrency world, the Securities and Exchange Commission (SEC) recently announced its first case settled over alleged fraud in touting initial coin offerings (ICOs). The case is significant in that it targeted some of the biggest names in sports and entertainment, boxer Floyd Mayweather and rapper DJ Khaled. Both Mayweather and Khaled agreed to settle the charges without admitting wrongdoing. This particular case related to [...]

December 10, 2018 By Adam Gardiner

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