26Jul 2017 by Tyler Wood No Comments

Bitcoin Fork, Segwit, and Segwit 2x

Bitcoin, News and Updates
If you have been even passively following cryptocurrency headlines in recent months, you are likely at least a little bit aware of the civil war that has been brewing. The reason for this is due to the need for evolution Bitcoin is experiencing. With transaction times and fees at all-time highs, the need for change has been heeded and entertained, however few can agree on what the appropriate plan of action is. The Brewing Problem As you may or may not have known, Bitcoin has grown in popularity significantly since its inception. Though it may not quite yet be a true household name, it has reached hundreds of millions of people, and reaches new folks every day. This popularity, though great for the Bitcoin and cryptocurrency “brands,” has not been…
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20Jul 2017 by Tyler Wood No Comments

CoinDash ICO Goes Up In Flames

Bitcoin, News and Updates
In the stock world, a company that is about to go public initiates what is known as an initial public offer, or IPO. In the constantly evolving cryptocurrency world, the same type of thing happens, only when new coins are introduced for the first time, it is referred to as an ICO, with the “C” meaning “coin.”  Earlier this week, CoinDash—which is known to only a small number of people—attempted an ICO that failed in astonishing fashion. Unfortunately, a short while into the ICO it was realized that the ethereum address to which prospective buyers were depositing ether was compromised. It would later be found out that a hacker deviously altered the ethereum address on CoinDash’s site such that any ether was sent to this new, illicit address, and not…
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14Jul 2017 by Tyler Wood No Comments

Morgan Stanley Report Doubts Bitcoin’s Viability as a Currency

Bitcoin
Even before Bitcoin became a well-known entity, its creators and proponents alike have long dreamed of the day that it becomes accepted as a legitimate currency. In the short while that it has existed, Bitcoin has gone from a fad to something that is, in most corners of the world, a household name. At no point prior to now has it seemed that, finally, Bitcoin might actually be accepted just like the USD, Euro, or any other globally accepted currency.  Unfortunately, Bitcoin’s move into mainstream legitimacy might be a bit further off than some people might think. A report recently publicized by a group of Morgan Stanley analysts indicates that there are some serious problems with the cryptocurrency, and that it is nothing more than the “poster child for speculation.”…
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11Jul 2017 by Tyler Wood No Comments

Mt Gox CEO to Face Trial

Bitcoin
At one point not too long ago, a site by the name of Mt. Gox was one of the leading Japanese Bitcoin exchanges. Responsible for millions and millions of dollars’ worth of BTC on a daily basis, Mt. Gox was one of the biggest names in the industry. Now, however, the company is nothing more than a memory, and the company’s founder is to be put on trial, facing embezzlement charges in Japan. Embezzlement Charges on the Table Mark Karpeles is the French-born founder of the failed Mt. Gox. According to the Japanese government, Karpeles is accused of hacking Mt. Gox’s main computing system and inflating his account to the tune of $1 million. It took authorities more than a year and a half in order to bring suit against…
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09Jul 2017 by Tyler Wood No Comments

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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04Jul 2017 by Tyler Wood No Comments

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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28Jun 2017 by Tyler Wood No Comments

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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17Jun 2017 by Tyler Wood No Comments

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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14Jun 2017 by Tyler Wood No Comments

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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13Jun 2017 by Tyler Wood No Comments

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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