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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How Can Posting On Forums Help You Solve Casino Issues?

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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

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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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6 Alternative Cryptocurrencies That Are On The Rise

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The world of cryptocurrency has for the longest time been synonymous with Bitcoin (BTC). Being a global pacesetter in this scene, it enjoys massive popularity, a fact that has seen it remain top in world rankings. Over the years, similar cryptocurrencies have made a debut with a view of creating a niche in the market. The constant attempts by the developers of these alternative cryptocurrencies to capture a slice of the market share have bore some fruit. The defacto status long enjoyed by this crypto coin is slowly fading. Altcoins have received some acclaim owing to the fact that they are easier to mine as compared to their superior counterpart. But with these advantages comes myriad downsides: Altcoins have long been dogged by acceptance challenges by the public coupled with…
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The Rise Of Esports In Bitcoin Betting Sites

Guides
Esports is a gaming activity that has been with us for a long time now. Unlike sports betting, Esports involves two players or teams going head to head on a computer or video game. There can be a broad range of games to be played which provides the players with a wide choice. Spectators then make bets on either teams and whoever wins takes the spoils. Esports is suitable for those with a preference for video games as opposed to contact sports like football, basketball and the like. The continued rise of esports can be attributed to the financial injection that it enjoys. In recent days, esports tournaments have offered huge sums of money as awards to winning participants, with some offering well over $20 million. These kind of attractive…
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How To Tell When A Casino Is Trying To Scam You

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The online gambling industry has grown in leaps and bounds. It is clear that more people are interested in gambling online for money, more so with the advent of Bitcoin casinos. Be that as it may, as is the case in any growing industry, unscrupulous individuals will dedicate their time and resources to ensure that they make away with your hard earned money. Sometimes it is not the rogue hacker, no – it is the very online casino that you play at that may turn out to be your scammer. You need to read between the lines and know just how to tell when an online casino is trying to scam you. Here are some tips to ensure you are okay. Delayed payouts Whenever you request a payout, it should…
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My Deposit Has No Blockchain Confirmation Yet- What Do I Do?

Guides
Every once in a while, a Bitcoin transaction may fail to confirm and/or become stuck. This so happens for various of reasons and stuck transactions usually get approved after several days. However, waiting isn’t always an option for most players looking to use their funds in online cryptocurrency casinos. Fortunately, it is possible to clear stuck transactions with simple steps. What happens when you send digital coins to someone? Whenever you send someone cryptocurrency, the transaction goes through different computers that run Bitcoin protocols throughout the world to verify the validity of the transaction. Once this is done, the transaction is put in some kind of limbo, waiting to be picked up by a miner and entered into a Blockchain transaction. So until the transaction is picked, it is treated…
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