• bitcoin taxes
    Alt coins,  Bitcoin,  Cryptocurrencies,  Ethereum,  Litecoin,  Regulation,  United States

    Crypto exchange sued by IRS unveils crypto tax calculator

    Keep calm, trade, and don’t forget to play nice with the government

    We already know that cryptocurrency exchange Coinbase really wants its users to pay taxes on their holdings. Now it’s unveiled a new tool to more easily calculate how much money you owe Uncle Sam for all those profitable bitcoin trades. The government is profoundly hip to cryptocurrency, taking steps to implement and regulate its use for formal purposes like paying tax. It’s also paying deadly attention to people who might be hiding their wealth in crypto assets, which is why the IRS ordered Coinbase to hand over information on nearly 15,000 users it identified as moving more than $20,000 through crypto; it ended up going to court late last year.…

  • Google
    Alt coins,  Bitcoin,  Litecoin,  Media

    Even Google searches for ‘bitcoin’ are dropping, too

    Why google what you already know?

    Fewer and fewer people are searching for “bitcoin” these days, and speculators are wondering what to make of it. Bloomberg first noticed the damning Google Trends report. This chart condenses the past year of people typing “bitcoin” into a Google search bar, and it shows that searches for this particular cryptocurrency are approaching new six-month lows. They’re down some 80% since bitcoin hit its all-time high in December. The crypto community are mostly scratching their heads at this data point. Why aren’t people googling “bitcoin” anymore? Does it mean something or nothing for bitcoin’s price? Google Trends reveals that this decline isn’t strictly limited to bitcoin. A similar pattern, more…

  • Alt coins,  Bitcoin,  Cryptocurrencies,  Ethereum,  Litecoin,  Ripple

    This is not a drill: Cryptocurrencies are crashing

    The dreaded c-word can now be applied to some of the largest cryptocurrencies

    With the major selloff in cryptocurrencies Tuesday, it’s time to call it what it is: a crash. Although prices are still generally higher than where they were only a couple of months ago, five of the six largest cryptocurrencies are down by 40 percent or more from their all-time highs, including the market leader, Bitcoin. Ethereum is off by 24 percent. Tuesday’s declines were attributed to a drop in volume from South Korea and Japan as an internal memo at China’s central bank calling for further crackdowns on cryptocurrencies was reported by Reuters. Currency Price (as of 17:20 UTC on 1/16/18) All-Time High All-Time High Date % Difference Days Bitcoin (BTC)…

  • Bitcoin,  Cryptocurrencies,  Ethereum,  Innovators,  Litecoin,  People,  Ripple

    Let’s see this mighty ‘Goldman Sachs of crypto’

    Mike Novogratz is pouring $400 million worth of his own crypto-assets to start a merchant bank

    A wealthy guy named Mike Novogratz has distinguished himself as a member of his high school wrestling team, as a member of the National Guard, and as a partner at Goldman Sachs. Now the 53-year-old investor has plans to throw major money into starting cryptocurrency-based bank. That specific quote—“the Goldman Sachs of crypto”—comes from “a person familiar with [Novogratz’s] plans,” the leading anonymous source in a recent Bloomberg story on the investor’s cryptocurrency ambitions. Novogratz’s crypto-enabled merchant bank will be called Galaxy Digital Holdings, and will be active in four cryptocurrency arenas—trading, taking principal stakes in initial coin offerings, selling market research, and asset management. And in true 1990s style,…