Bitcoin: 'Blood Diamonds' Of The Digital Era - page 2.

alyssa85

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Quote from: RodeoX on March 31, 2017, 09:17:57 AM

Quote from: alyssa85 on March 31, 2017, 09:10:50 AM

https://www.forbes.com/sites/jasonbloomberg/2017/03/28/bitcoin-blood-diamonds-of-the-digital-era/#72915253492a

Quote

The specifics of the IRS subpoena, however, make one thing clear: the majority of Americans who trade in Bitcoin are likely breaking the law.

Hmm. I see absolutely nothing to support this statement. So do they mean because they are cheating on their taxes? That is a completely different topic. Those people are stealing and should be charged.

Yeah. read the article (I didn't want to copy paste the entire thing). But the long and short of it is that they did a search for bitcoin trades declared in tax returns, and found very few, compared to the number of trades on CoinBase.

So they've essentially supoenaed the whole of Coinbase to check for trades that haven't been declared.

Arcteryx

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This would make it look as if bitcoins is still the silk road's offspring. Which is still engulfed in that illegal world or drugs and guns.
This kind of publicity will only hurt the bitcoin movement and not help it to come into the real economic business world of where fiat is still viewed as the global currency within their respective countries.

buwaytress

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Oh the outrage, the eloquent outrage of false journalists pandering to sensationalist hype that's at least four years old. If only proper media with accredited backgrounds and reputable credentials would write about bitcoin. Oh, wait. Forbes.

Can't blame the journalist for writing what the editors think. For a moment when I read it I thought I was reading about the dollar.

gentlemand

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Seems like utter bilge dating from around 2012. I'll carry on being unfashionable and use it for things that aren't nefarious.

RodeoX

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Quote from: alyssa85 on March 31, 2017, 09:10:50 AM

https://www.forbes.com/sites/jasonbloomberg/2017/03/28/bitcoin-blood-diamonds-of-the-digital-era/#72915253492a

Quote

The specifics of the IRS subpoena, however, make one thing clear: the majority of Americans who trade in Bitcoin are likely breaking the law.

Hmm. I see absolutely nothing to support this statement. So do they mean because they are cheating on their taxes? That is a completely different topic. Those people are stealing and should be charged.

alyssa85

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https://www.forbes.com/sites/jasonbloomberg/2017/03/28/bitcoin-blood-diamonds-of-the-digital-era/#72915253492a

Quote

Bitcoin has long been the transaction currency of choice for drug dealers and extortionists, but this month, the IRS has upped the game. Just as tax evasion finally took down Al Capone, now the IRS is looking for tax evaders and other tax cheats who have been using Bitcoin in an attempt to hide their tracks.

The IRS recently subpoenaed customer records from Coinbase, a leading Bitcoin exchange. However, the subpoena is but the latest skirmish in a years-long war against criminals who have been leveraging Bitcoin for a wide variety of nefarious purposes.

The specifics of the IRS subpoena, however, make one thing clear: the majority of Americans who trade in Bitcoin are likely breaking the law.

Coupled with Bitcoin’s popularity among ransomware extortionists and all manner of other cybercriminals, we must now face a chilling realization: the underlying value of Bitcoin really has little if nothing to do with its artificial scarcity or popularity as a medium of speculation.

On the contrary – the only reason Bitcoin has value to anyone is because of the underlying value as a medium of exchange for lawbreakers. If we could flip a switch and eliminate all illegal uses of Bitcoin, there would be nothing left of the cybercurrency.

Topic: Bitcoin: 'Blood Diamonds' Of The Digital Era - page 2. (Read 1036 times)