Coinbase IRS Probe

Bitcoin, News and Updates
The United States’ Internal Revenue Service, which is responsible for everything tax-related in the country, recently announced that it would be scaling back audits of Coinbase accounts. The IRS has reportedly been looking into over 1 million different accounts, but said it would scale back requests for passwords and security settings for the accounts in question. The IRS made this announcement last week, shortly after news broke that anonymous buyers were looking for representation and to intervene in the case. Being that Bitcoin is not recognized as legal tender, it may be a bit confusing as to how the IRS is able to come after Coinbase account holders. The reason for this is that that money transacted in Coinbase wallets most often involves USD, and if the USD is being…
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Colombian Government: Bitcoin Subject to Tax Despite Not Being Recognized as Legal Currency

Bitcoin
In a somewhat confusing turn of events, the Colombian government, specifically the Tax and Customs office, announced that Bitcoin is subject to taxes despite it still not being recognized as a legal currency. Back in late 2016, the Colombian government made an official announcement that Bitcoin was not legal tender, and that the only money recognized by the government of Colombia is the Colombian Peso. In addition to that, the announcement went on to warn against becoming involved in cryptocurrency dealings and even referred to them as “scams.” Not Legal Tender, But Subject to Taxes As you have probably become well aware of by now, the Bitcoin movement is reaching farther and wider than ever before. With so many additions to the market in the past few years, the Colombian…
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The Effect of Coinbase on the Bitcoin Gambling Industry

Basics
Now that Bitcoin has entered the mainstream, so to speak, it has received a good bit more attention and use. In recent years, the gambling industry has evolved to make Bitcoin a centerpiece and a banking option at most sites, big or small. In order to utilize a Bitcoin gambling site, the user is required to utilize a Bitcoin wallet of some sort, and most people choose Coinbase as their preferred wallet. In terms of Bitcoin and the cryptocurrency world, Coinbase is to wallets as PayPal is to traditional e-wallets; it reigns supreme. Using Coinbase to facilitate withdrawals and deposits is easy and convenient, but most people would be surprised to know that it is in direct violation of Coinbase’s terms of service. What’s more, users who are caught may…
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Why Do Some Bitcoin Casinos Have Country Restrictions?

Guides
The rapid growth of bitcoin and its mass adoption worldwide has brought about regulatory and licensing challenges in various jurisdictions. While it remains to be seen whether cryptocurrency casinos will surmount this obstacle, many of these casinos have opted to forego operations in countries with stringent laws regarding online gaming. This move, of course, has far reaching implications on the growth and development of the sport, owing to the fact that a significant proportion of potential subscribers are locked out. This article seeks to delve deeper into crypto-coin casino operations and why they have restrictions in some countries. Regulation This is perhaps the most glaring impediment to the growth of cryptocurrency gaming. Many countries either have unclear laws or have banned the sport completely. In this regard, the grey areas…
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What To Look For When Going Through Casino Reviews

Guides
Casino reviews are a good source of information regarding casinos and the games offered. Through reading reviews, new subscribers know what to expect about a certain game, weaknesses and strategies required to beat the house. It is however important to note that some reviews are not always a true reflection of a game or the casino under study. In a bid to attract more gamers to their sites, some online casinos have embarked on creating reviews that do not critic their services but rather praise them. But even with such malpractices in the industry, what should gamers look out for when going through reviews? Criticism Every product, whether a service or good should have its merits and flaws. Casinos and the games that they offer are no different. Gamers will…
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How Do Online Casinos Help You Fight Your Gambling Addiction?

Guides
Gambling addiction has become an incessant problem in today’s gaming scene. In recent days, findings from a scientific research suggested that gambling addiction, if not nipped in the bud at an early stage, may lead to a gambling disorder. This disorder commonly referred to as compulsive gambling, sets the gamer on a downward spiral in regards to his / her gaming tendencies. Usually, the gamer is unable to control the urge for play, making the brain completely obsessed with scoring wins. The downside to this disorder is the fact that it results in a shift of an individual’s priorities rendering one a slave to game outcomes. Gambling addiction has had grievous implications on individuals, including depression, marital problems, and even death. In view of these bleak developments, online casinos have…
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How Can Posting On Forums Help You Solve Casino Issues?

Guides
Online forums provide a suitable environment for consumers to offer reviews, ask questions or complain about various products. Through these platforms, gamers get to appraise various casinos and games. It also provides an avenue for individuals to interact too. So why do consumers and gamers specifically prefer these forums? What is it that these forums offer in betterment of the sport? Various views Forums being a convergence of people from various walks of life, means there is an abundance of divergent views and perspectives about issues affecting the sport. It is within these groupings that fresh ideas are mooted and solutions that can help address various problems are proposed. Usually, casino games vary in level of skill, expertise and strategy required in playing and it would not be difficult for…
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5 Effective Ways To Get More Out Of Bitcoin

Guides
Digital coins have become quite popular in recent years, considering the numerous benefits that users stand to gain. As governments push for a paperless society, the use of virtual money is gaining ground. Bitcoin, which is regarded as the pioneer in the cryptocurrency world is renowned for its incisive security features. All transactions are not only anonymous, but also safe and secure. Additionally, transactions are almost instant, with confirmation not taking a considerable amount of time. In view of all these developments, digital currencies will soon replace traditional notes and coins. While being in possession of digital coins is one thing, making the most out of them is another. You need to find ways of making your digital coins work you. Why would you have virtual money if it were…
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Importance Of HTTPS In Online Casinos

Guides
HTTPS refers to a communication procedure for secure communication over a computer network on the internet. Also referred to as http over transport layer security (TLS), HTTP over SSL or simply http secure, this secure communication platform provides the best bet for online safety. Https offers a wide range of benefits on the web which are particularly vital in today’s technological age. Let’s have a look at the importance of https for online casinos. Privacy and integrity Owing to the presence of the transport layer security, https ensures that information exchanged between parties remains confidential and secure. The message only gets to the intended recipient. Initially, the lack of a secure network on the web greatly affected online communication by making it possible to alter information. Presently, most online and…
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Why Do We Pay Bitcoin Transaction Fees?

Guides
The use of digital coins has picked up tremendously, with more users joining the Bitcoin craze. After all, who would not want to make secure money transfers, anonymously? The fact that no financial intermediaries such as banks and credit cards are involved makes this form of money transfer more popular. Importantly, payments are almost instant and this sets it apart from conventional money transactions. While transactions are instant, it may take a considerable amount of time for your transaction to be confirmed. This is where the aspect of paying transaction fees comes into play. In essence, transactions are almost free, as the fees are almost insignificant. Paying higher transaction fees is voluntary on the persona making the transaction. However, it is important to note that the fee has a bearing…
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