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Topic: Plagiarism and copy/paste posts - page 4. (Read 4433 times)

legendary
Activity: 2674
Merit: 3000
Terminated.
February 25, 2018, 06:09:43 PM
#62
Correct, Lone Shark was permabanned[1] for copy and pasting, but then later unbanned. Not sure if there's any other cases though.

[1]https://bitcointalksearch.org/topic/solved-2058662
Ah, yes. How could I forget about that one. Thanks.

-snip-
I am not going to argue this anymore; I have better things to do (hundreds of tags in backlog ATM) and I have stated my opinion on it anyways (nor is it up to me to handle such a case). The opinion is not going to change unless something new is presented regarding the user or new cases of said behavior.
legendary
Activity: 1582
Merit: 1064
February 25, 2018, 06:05:13 PM
#61
For lower ranking randoms (most often trying to get quickly into sig. campaigns), sure. For established traders who didn't know better?

Who didn't know better? Who are we trying to kid here?
User wears a paid signature. He has been caught copy-pasting. Not once, but multiple times. That "usually" results in a perma-ban.
What has the fact that he is an established trader have to do with anything? Lots of people have given him positive trust. That doesn't mean that plagiarism can be condoned.

So: Doing wrong = bad. Correcting wrong = Bad. Huh He, obviously, started doing that after acknowledging the problem (after my PM) in this post. Would you rather that he left them as is?

He is editing the posts that I have quoted and he is doing them today. If correcting posts is all that it takes to escape the ban hammer, I am sure Meta will be filled with posters trying to get their bans overturned. They would all scream "Give me another chance to correct my wrongs"

There are internal moderation policies (although I'm not sure whether I'm allowed to share that; or at least what I remember of it). You should really take a good look at the user's posting history (outside of collectibles). e.g. Warning about BitConnect.


The user may have made very good posts in the past. You should merit these posts. That doesn't change anything from the fact that he has been caught copy-pasting.

[1] They are often not tagged, but just banned. Maybe neutral feedback (as long as it is not repeated again).

True. They are often not tagged, but banned. Once they are banned, there is no need to tag them. But again, the bar has been far lower for DT to tag accounts for shit-posting. And blatant copy-pasting is the worst kind, intended to cheat signature campaigns.

It would be clearly double standards if a user is able to get away with it.
legendary
Activity: 2772
Merit: 3284
February 25, 2018, 06:03:50 PM
#60
You seem to be too generous, Lauda. Plagiarism, in my opinion, should be dealt with a perma-ban hammer at the first offense.
There is just no excuse.
For lower ranking randoms (most often trying to get quickly into sig. campaigns), sure. For established traders who didn't know better? No. I'm pretty sure we had cases like this one before (or at least one-time established member violations that didn't get banned; unless my memory is fooling me).

Correct, Lone Shark was permabanned[1] for copy and pasting, but then later unbanned. Not sure if there's any other cases though.

[1]https://bitcointalksearch.org/topic/solved-2058662
legendary
Activity: 2674
Merit: 3000
Terminated.
February 25, 2018, 05:31:54 PM
#59
You seem to be too generous, Lauda. Plagiarism, in my opinion, should be dealt with a perma-ban hammer at the first offense.
There is just no excuse.
For lower ranking randoms (most often trying to get quickly into sig. campaigns), sure. For established traders who didn't know better? No. I'm pretty sure we had cases like this one before (or at least one-time established member violations that didn't get banned; unless my memory is fooling me).

In this case however, it is not an isolated instance.
Correct.

Yes, it does look unfair. The user is trying to edit his old posts and insert sources.  Roll Eyes Roll Eyes Roll Eyes
So: Doing wrong = bad. Correcting wrong = Bad. Huh He, obviously, started doing that after acknowledging the problem (after my PM) in this post. Would you rather that he left them as is?

[1] Seems surprising that none of the DT users / mods have acted upon this so far.
There are internal moderation policies (although I'm not sure whether I'm allowed to share that; or at least what I remember of it). You should really take a good look at the user's posting history (outside of collectibles). e.g. Warning about BitConnect.

[1] They are often not tagged, but just banned. Maybe neutral feedback (as long as it is not repeated again).
sr. member
Activity: 490
Merit: 256
February 25, 2018, 05:26:22 PM
#58
Hello! I think that this message was partially copied, which is not prohibited by the rules of the forum. Why is this given a permanent ban? You can also make a warning or impose a temporary ban.

Especially when you consider the message completely, it was a direct response to the author of the topic, and your message was addressed to someone who is not clear. Why do you complain about a person, if you do not benefit from it. I'm sure that he copied part of your message just because you liked your idea and he wanted to convey it to the author of the topic.

I believe that the ban is too harsh punishment.


If only your friend quoted the post he copied then it won't come to this. But the fact that he copied and partially edited the context, he is making that context as his own. Thus, plagiarism. (punishable by law, not allowed in this forum). The punishment is Permanent Ban.

33. Posting plagiarized content is not allowed.[e]



Examples:

33. This includes both copying parts or the entirety of other users' posts or threads and copying content from external sources (e.g. other websites) and passing it as your own.

newbie
Activity: 14
Merit: 0
February 25, 2018, 04:10:31 PM
#57
Hello administrator, please consider banned this account -> Dimedroll. He stole my comment VERY exactly the same
Topic: https://bitcointalksearch.org/topic/why-signature-campaign-allocation-always-high-2996523

My comment:

This is my reasons,

1. It's hard to get a bitcointalk account
2. This forum is very strict on shitposting or spamming, that's the way to build this forum healthy and clean.
3. Not easy to raise your rank. You have to write great content, to get more ranks.
4. As far as I know, every token or coin start from this site, so if your signature been seen by someone, it will make an impact on their exposure.

Dimedroll. comment:

This is my opinion:

1. Hard to get a bitcointalk account with good rank
2. This forum is very strict on shitposting or spamming, that's the way to build this forum healthy and clean.
3. Not easy to raise your rank. You have to write great content, to get more ranks.
4. As far as I know, every token or coin start from this site, so if your signature been seen by someone, it will make an impact on their exposure.

He only changed for the first part of my comment. Please consider this man to permban
thanks!

Hello! I think that this message was partially copied, which is not prohibited by the rules of the forum. Why is this given a permanent ban? You can also make a warning or impose a temporary ban.

Especially when you consider the message completely, it was a direct response to the author of the topic, and your message was addressed to someone who is not clear. Why do you complain about a person, if you do not benefit from it. I'm sure that he copied part of your message just because you liked your idea and he wanted to convey it to the author of the topic.

I believe that the ban is too harsh punishment.
member
Activity: 140
Merit: 20
February 25, 2018, 04:02:36 PM
#56
DON'T POST OFF TOPIC REPLIES ABOUT MERIT BECAUSE THIS IS NOT MERIT DISCUSSION THREAD!


I've found something, it seems that anti-spam giveaway is useful in some way  Smiley
Accounts: matthewogus01, akosibatman, chimcoin, VINCEAKTIN, onpages, emondot, lookjoz, kawasanz,
happydevil

Bitcoin Advantages:
Freedom in Payment
With Bitcoin it is very possible to be able to send and get money anywhere in the world at any given time.
You don’t have to worry about crossing borders, rescheduling for bank holidays, or any other limitations one might think will occur when transferring money.
You are in control of your money with Bitcoin. There is no central authority figure in the Bitcoin network.


https://coinreport.net/coin-101/advantages-and-disadvantages-of-bitcoin/

Due to unique characteristic of bitcoin, it inherent some advantages, digital currencies has:
- Convenient as mode of payment.
- Very Low transaction fees.
- Goverment has now way to interrupt user transaction.
- Purhcases are not Taxed.
- Information is transparent when using digital currency
- Fewer risk on merchants (bitcoin transaction cannot be reversed thus dont carry information, merchant are protected from potential losses.
- Bitcoin can be backed up and encrypted to ensure safety.

But for every advantages there's always a Disadvantage like:
- High risk and voltatile
- Still developing (we cant so rely so much on bitcoin)
- People need to learn bitcoin before engaging on how bitcoin earn.

https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp
I think everything in life has it advantages and disadvantages.Bitcoin has many advantages as many of us know but these are some of it disadvantages.
1. unregulated- Unlike other investment avenues, cryptocurrencies are not regulated by government entities or banks. For example, If we buy something with a credit card and get ripped off, we can call the bank and ask to be compensated. But if we get ripped off in a bitcoin transaction, it is impossible to get the money back.
2.may be open to illegal activity - Due to the lack of government control, terrorists and extortionists are also utilizing the cryptocurrency space to their advantage. Bitcoins users on either end of a transaction can remain relatively anonymous and cybercriminals have found ways to mask their addresses, so it can be difficult for government authorities and companies to trace such illegal activities
3.Bitcoin and altcoins are volatile -Investing in cryptocurrencies involves very high risk, as prices have been extremely volatile.

From here https://economictimes.indiatimes.com/wealth/invest/7-reasons-why-you-should-not-invest-in-bitcoins-cryptocurrencies/articleshow/60891341.cms

If we talk about bitcoin deficiency means we are talking about its weakness, I think this is the weakness of bitcoin:

1. Not Stable
Bitcoin is a speculative currency. Currently not enough companies that offer the purchase and sale of products with bitcoin as a means of payment.

2. Very risky lost or stolen
As a virtual currency, bitcoins are encapsulated in the form of digital files or known as wallet files. In use, the wallet file is similar to the cash register function.

But the wallet files stored on the hard disk of your electronic equipment are very vulnerable to damage. In addition, viruses that attack your hard disk can also make stored bitcoins just disappear.

3. Money laundering tool
The use of bitcoin currency is not controlled by the government or authorized financial institution. As a result, such conditions provide great opportunities for criminal activities such as money laundering and tax evasion.


Copy:
1. Unstable

Bitcoin is a speculative currency. While there are not enough companies currently offering the purchase and sale of products with bitcoin as a means of payment.

2. Very risky lost or stolen

As a virtual currency, bitcoins are encapsulated in the form of digital files or known as wallet files. In use, the wallet file is similar to the cash register function.

However, wallet files stored on your hard disk electronic equipment are very vulnerable to damage. In addition, viruses that attack your hard disk can also make stored bitcoins just disappear.

Copy:

1. Not Stable

Bitcoin is a speculative currency. While there are not enough companies currently offering the purchase and sale of products with bitcoin as a means of payment.

2. Very risky lost or stolen

As a virtual currency, bitcoins are encapsulated in the form of digital files or known as wallet files. In use, the wallet file is similar to the cash register function.

However, wallet files stored on your hard disk electronic equipment are very vulnerable to damage. In addition, viruses that attack your hard disk can also make stored bitcoins just disappear.

Copy:

As a virtual currency, bitcoins are encapsulated in the form of digital files or known as wallet files. In use, the wallet file is similar to the cash register function. However, wallet files stored on the hard disk of your electronic equipment are very vulnerable to damage. In addition, viruses that attack your hard disk can also make stored bitcoins just disappear. The digital wallet can also be hacked and stolen through malware. Not to mention the risk of hard disk content of bitcoin owners erased accidentally. More painful than cash, you lose all the contents of the wallet without being traceable to where it disappears. In addition, people with computerized expertise have the potential to steal the money.

so I guess if we do not really keep it thoroughly it will most likely happen.

Copy:
The weakness of bitcoin is not yet fully for transaction tools and also if bitcoin is stored in digital file form or known as wallet file.
However, wallet files stored on the hard disk of your electronic equipment are very vulnerable to damage. In addition, viruses that attack your hard disk can also make stored bitcoins just disappear.
The digital wallet can also be hacked and stolen through malware. Not to mention the risk of hard disk content of bitcoin owners erased accidentally. More painful than cash, you lose all the contents of the wallet without being traceable to where it disappears.

Copy:
This is one of the disadvantages because As a virtual currency, bitcoin stored in the form of digital files or known as wallet.Sedang used, wallet files similar to the cash register function.
However, wallet files stored on the hard disk of your electronic equipment are very vulnerable to damage.Besides, a virus that attacks your hard disk can also make the stored bitcoin just disappear.
Digital wallets can also be hacked and stolen through malware. Not to mention the risk of hard disk content of bitcoin owners being erased accidentally.More painful than cash, you lose all the contents of the wallet without being traceable where the losses.
In addition, people with computer skills potentially steal money.


About advantages
Transactional convenience: Any transaction has a limit on the transfer and receive money, but for bitcoin there is no limit. You can send unlimited number of bitcoins to your friends. No matter where they are in the world they will also receive. You can also send at any time no one can manage the amount you send.

Ensure security and confidentiality

Every bitcoin transaction can be done and completed without any personal information. Transaction information is still kept, but your identity is kept private. This is one of the outstanding advantages that you get when investing in the field of virtual money.

Bitcoin can not be faked

The cost of testing gold is very high, and bitcoin testing is not costly and the truth is that bitcoin can not be faked. Because bitcoin is not shown in physical form.

The cost is extremely low

There are no intermediaries involved in the field of virtual currency investing. However, you still have to deal with the transaction but it is not worth it.

On the downside
Not many users: The fact is that the field of virtual money is still quite new and not many people know. The people of Vietnam have been used to using gold and silver. People are very shy and anxious to invest in this field.

Somewhat unwieldy: In order to invest in bitcoin you need to have certain knowledge to get involved in this area. For those who are not technologically savvy, they can not participate in bitcoin. If not understood, the risk of fraud is very high.

From here:
http://bitcoinforus.com/bitcoin-invest-bitcoin-not/

Quote
Safety and security: Every bitcoin transaction can be done and completed without any personal information. Transaction information is displayed but your identity is completely confidential[...].
I mean, whole post is plagiarism.
WTF, there's a lot of users doing plagiarism even they know the rules of this bitcointalk. It was truly copy pasting because there's no different from the original post or they only change some words.
If that is happen do you think author need sanction too? Or only the users who copy pasting? That copy pasting is not only against the rules of bitcointalk because it also against the law of all countries "PIRACY".
Thanks for your info marlboroza
legendary
Activity: 1582
Merit: 1064
February 25, 2018, 11:20:47 AM
#55
-snip-

Another example
Accommodation-Travel agencies CheapAir and Destinia also accept Bitcoin payments for hotel bookings.
Expedia doesn’t accept Bitcoin for flights, but it does for hotel bookings. The travel giant uses an online platform called Coinbase to secure transfers of the digital currency.
Gyft.com is a digital gift card platform that lets you buy gift cards in Bitcoin to Hotels.com, which offers bookings at more than 150,000 hotels.
9flats.com, Airbnb’s European rival headquartered in Berlin, accepts Bitcoin payments for its short term home rentals.

http://fortune.com/2017/12/21/bitcoin-travel-cryptocurrency-bookings/

Accommodation
  • Travel agencies CheapAir and Destinia also accept Bitcoin payments for hotel bookings.
  • Expedia doesn’t accept Bitcoin for flights, but it does for hotel bookings. The travel giant uses an online platform called Coinbase to secure transfers of the digital currency.
  • Gyft.com is a digital gift card platform that lets you buy gift cards in Bitcoin to Hotels.com, which offers bookings at more than 150,000 hotels.
  • 9flats.com, Airbnb’s European rival headquartered in Berlin, accepts Bitcoin payments for its short term home rentals.

I really found this forum biased, When a newbies are tagged and permabanned, rules are different for Senior Member who is copy/pasting multiple times.

Yes, it does look unfair. The user is trying to edit his old posts and insert sources.  Roll Eyes Roll Eyes Roll Eyes
Seems surprising that none of the DT users / mods have acted upon this so far.
member
Activity: 224
Merit: 10
The revolutionary trading ecosystem
February 25, 2018, 09:14:03 AM
#54
Hello administrator, please consider banned this account -> Dimedroll. He stole my comment VERY exactly the same
Topic: https://bitcointalksearch.org/topic/why-signature-campaign-allocation-always-high-2996523

My comment:

This is my reasons,

1. It's hard to get a bitcointalk account
2. This forum is very strict on shitposting or spamming, that's the way to build this forum healthy and clean.
3. Not easy to raise your rank. You have to write great content, to get more ranks.
4. As far as I know, every token or coin start from this site, so if your signature been seen by someone, it will make an impact on their exposure.

Dimedroll. comment:

This is my opinion:

1. Hard to get a bitcointalk account with good rank
2. This forum is very strict on shitposting or spamming, that's the way to build this forum healthy and clean.
3. Not easy to raise your rank. You have to write great content, to get more ranks.
4. As far as I know, every token or coin start from this site, so if your signature been seen by someone, it will make an impact on their exposure.

He only changed for the first part of my comment. Please consider this man to permban
thanks!
sr. member
Activity: 742
Merit: 395
I am alive but in hibernation.
February 25, 2018, 05:03:07 AM
#53
I hope this can help.

-snip-
He's a legitimate user. I've contacted him.


You seem to be too generous, Lauda. Plagiarism, in my opinion, should be dealt with a perma-ban hammer at the first offense.
There is just no excuse.

In this case however, it is not an isolated instance.


Ethereum has some inherent problems one being a single layered coin.  I personally like Cardano (ADA) as better replacement for ETH- Cardano utilizes a multi-layered infrastructure. The accounting layer is separate from the smart contract execution layer. This is a signifcant innovation since it allows for absolute flexibility in protocol utilization, app development and security systems.

Bitcoin is undoubtedly the best coin to "invest" in at the moment.  Not that others aren't ( I like IOTA, GameCredits, and ADA as well) but BTC is King.

https://www.investing.com/analysis/how-cardano-muscled-its-way-into-the-cryptocurrency-top-10-200291919

Andrey Solovyev, a software engineer with an academic background in applied mathematics who is also co-founder and head of product for mom.life, explains that Cardano utilizes a multi-layered infrastructure. The accounting layer is separate from the smart contract execution layer. This is a signifcant innovation, he says, since it allows for absolute flexibility in protocol utilization, app development and security systems.


Another example
Accommodation-Travel agencies CheapAir and Destinia also accept Bitcoin payments for hotel bookings.
Expedia doesn’t accept Bitcoin for flights, but it does for hotel bookings. The travel giant uses an online platform called Coinbase to secure transfers of the digital currency.
Gyft.com is a digital gift card platform that lets you buy gift cards in Bitcoin to Hotels.com, which offers bookings at more than 150,000 hotels.
9flats.com, Airbnb’s European rival headquartered in Berlin, accepts Bitcoin payments for its short term home rentals.

http://fortune.com/2017/12/21/bitcoin-travel-cryptocurrency-bookings/

Accommodation
  • Travel agencies CheapAir and Destinia also accept Bitcoin payments for hotel bookings.
  • Expedia doesn’t accept Bitcoin for flights, but it does for hotel bookings. The travel giant uses an online platform called Coinbase to secure transfers of the digital currency.
  • Gyft.com is a digital gift card platform that lets you buy gift cards in Bitcoin to Hotels.com, which offers bookings at more than 150,000 hotels.
  • 9flats.com, Airbnb’s European rival headquartered in Berlin, accepts Bitcoin payments for its short term home rentals.




I really found this forum biased, When a newbies are tagged and permabanned, rules are different for Senior Member who is copy/pasting multiple times.
legendary
Activity: 1582
Merit: 1064
February 24, 2018, 06:59:11 AM
#52
I hope this can help.

-snip-
He's a legitimate user. I've contacted him.


You seem to be too generous, Lauda. Plagiarism, in my opinion, should be dealt with a perma-ban hammer at the first offense.
There is just no excuse.

In this case however, it is not an isolated instance.


Ethereum has some inherent problems one being a single layered coin.  I personally like Cardano (ADA) as better replacement for ETH- Cardano utilizes a multi-layered infrastructure. The accounting layer is separate from the smart contract execution layer. This is a signifcant innovation since it allows for absolute flexibility in protocol utilization, app development and security systems.

Bitcoin is undoubtedly the best coin to "invest" in at the moment.  Not that others aren't ( I like IOTA, GameCredits, and ADA as well) but BTC is King.

https://www.investing.com/analysis/how-cardano-muscled-its-way-into-the-cryptocurrency-top-10-200291919

Andrey Solovyev, a software engineer with an academic background in applied mathematics who is also co-founder and head of product for mom.life, explains that Cardano utilizes a multi-layered infrastructure. The accounting layer is separate from the smart contract execution layer. This is a signifcant innovation, he says, since it allows for absolute flexibility in protocol utilization, app development and security systems.


Another example
Accommodation-Travel agencies CheapAir and Destinia also accept Bitcoin payments for hotel bookings.
Expedia doesn’t accept Bitcoin for flights, but it does for hotel bookings. The travel giant uses an online platform called Coinbase to secure transfers of the digital currency.
Gyft.com is a digital gift card platform that lets you buy gift cards in Bitcoin to Hotels.com, which offers bookings at more than 150,000 hotels.
9flats.com, Airbnb’s European rival headquartered in Berlin, accepts Bitcoin payments for its short term home rentals.

http://fortune.com/2017/12/21/bitcoin-travel-cryptocurrency-bookings/

Accommodation
  • Travel agencies CheapAir and Destinia also accept Bitcoin payments for hotel bookings.
  • Expedia doesn’t accept Bitcoin for flights, but it does for hotel bookings. The travel giant uses an online platform called Coinbase to secure transfers of the digital currency.
  • Gyft.com is a digital gift card platform that lets you buy gift cards in Bitcoin to Hotels.com, which offers bookings at more than 150,000 hotels.
  • 9flats.com, Airbnb’s European rival headquartered in Berlin, accepts Bitcoin payments for its short term home rentals.

jr. member
Activity: 52
Merit: 2
February 24, 2018, 03:51:00 AM
#51
I think thats not a good idea, plagiarism, act of copying others work. We should improve ourselves on our own way, its fine to be inspired to others but not in the point to copy them. We should learn to develop and improve our skills in cryptocurrency.
legendary
Activity: 2968
Merit: 3406
Crypto Swap Exchange
February 23, 2018, 09:52:50 PM
#50
Found another user: "alexclaye"

Thread link / Archived link
Atomic Swaps Allow You to Trade From Blockchain to Blockchain, From Within Your Wallet
An atomic swap is a direct trade between two different coins running on two separate blockchains; there are no centralized-exchange websites or other third-parties required for this trade. The technology enables common users to bypass the labyrinth of website-exchanges currently necessary to purchase cryptocurrencies. Once implemented, the atomic swap will allow common users to trade and purchase any desired coin directly within their own wallets.


Copied from "KomodoPlatform blog" / Archived link
Quote
Everything You Need to Know about Atomic Swaps, and How Komodo is Advancing the Technology
Over the last several years, at Komodo we have quietly worked with a blockchain innovation called “The Atomic Swap,” a technology seen recently in the news. The growth of this technology throughout the entire market shows an exciting future where cryptocurrencies can be accessible to the average user. The Komodo Platform is the first exchange to support atomic swaps, and we have even forged our own unique variations of the protocol, advancing the technology beyond its previous capabilities.

Atomic Swaps Allow You to Trade From Blockchain to Blockchain, From Within Your Wallet

An atomic swap is a direct trade between two different coins running on two separate blockchains; there are no centralized-exchange websites or other third-parties required for this trade. The technology enables common users to bypass the labyrinth of website-exchanges currently necessary to purchase cryptocurrencies. Once implemented, the atomic swap will allow common users to trade and purchase any desired coin directly within their own wallets.
legendary
Activity: 1932
Merit: 2272
February 23, 2018, 03:31:58 PM
#49
~
earl07 and creamy08!

I can't fucking believe that you are using this topic to farm merit and to abuse system by sending merit to your alt account https://bitcointalksearch.org/topic/m.30929156 !  Angry
member
Activity: 168
Merit: 22
February 23, 2018, 01:53:32 PM
#48
Hi
How do we archive the posts?

Copy/paste the url of the certain topic here https://archive.fo/ then  save it,once done,copy its url, it is usually a combination of letters and numbers.eg. (archive.fo/xxxxx)
sr. member
Activity: 742
Merit: 395
I am alive but in hibernation.
February 23, 2018, 01:33:44 PM
#47
Hi
How do we archive the posts?
legendary
Activity: 2282
Merit: 3014
February 23, 2018, 11:49:00 AM
#46
I hope this can help.

-snip-
He's a legitimate user. I've contacted him.


Whoops sorry guys. Thanks Lauda! I was just trying to be helpful by posting that..not to take as my own. Will make sure to not fail to quote author again.
legendary
Activity: 2674
Merit: 3000
Terminated.
February 23, 2018, 07:49:34 AM
#45
I hope this can help.

-snip-
He's a legitimate user. I've contacted him.
member
Activity: 102
Merit: 15
February 23, 2018, 07:41:16 AM
#44
I hope this can help.

Virtual currency like Bitcoin has shifted into the public eye in recent years. Some employees are paid with Bitcoin, more than a few retailers accept Bitcoin as payment, and others hold the e-currency as a capital asset. Recently, the Internal Revenue Service (IRS) clarified the tax treatment of Bitcoin and Bitcoin transactions.
Convertible virtual currency is subject to tax by the IRS
Purse filled with coins

Bitcoin is the most widely circulated digital currency or e-currency as of 2017. It's called a convertible virtual currency because it has an equivalent value in real currency. The sale or exchange of a convertible virtual currency—including its use to pay for goods or services—has tax implications. The IRS answered some common questions about the tax treatment of Bitcoin transactions in its recent Notice 2014-21. Tax treatment depends on how Bitcoins are held and used.

Bitcoin used to pay for goods and services taxed as income
If you are an employer paying with Bitcoin, you must report employee earnings to the IRS on W-2 forms.

You must convert the Bitcoin value to U.S. dollars as of the date each payment is made and keep careful records.
Wages paid in virtual currency are subject to withholding to the same extent as dollar wages.
Employees must report their total W-2 wages in dollars, even if earned as Bitcoin. Self-employed individuals with Bitcoin gains or losses from sales transactions also must convert the virtual currency to dollars as of the day received, and report the figures on their tax returns.

Bitcoins held as capital assets are taxed as property
If you hold Bitcoins as a capital asset, you must treat them as property for tax purposes. General tax principles applicable to property transactions apply.

If the Bitcoins are held as a capital asset, like stocks or bonds, any gain or loss from the sale or exchange of the asset is taxed as a capital gain or loss. Otherwise, the investor realizes ordinary gain or loss on an exchange.

Bitcoin miners must report receipt of the virtual currency as income
Some people "mine" Bitcoins by using computer resources to validate Bitcoin transactions and maintain the public Bitcoin transaction ledger.

According to the IRS, when a taxpayer successfully “mines” Bitcoins and has earnings from that activity whether in the form of Bitcoins or any other form, he or she must include it in his gross income after determining the fair market dollar value of the virtual currency as of the day he received it. If a bitcoin miner is self-employed, his or her gross earnings minus allowable tax deductions are also subject to the self-employment tax.



Quote

Virtual currency like Bitcoin has shifted into the public eye in recent years. Some employees are paid with Bitcoin, more than a few retailers accept Bitcoin as payment, and others hold the e-currency as a capital asset. Recently, the Internal Revenue Service (IRS) clarified the tax treatment of Bitcoin and Bitcoin transactions.

Convertible virtual currency is subject to tax by the IRS



Bitcoin is the most widely circulated digital currency or e-currency as of 2017. It's called a convertible virtual currency because it has an equivalent value in real currency. The sale or exchange of a convertible virtual currency—including its use to pay for goods or services—has tax implications. The IRS answered some common questions about the tax treatment of Bitcoin transactions in its recent Notice 2014-21. Tax treatment depends on how Bitcoins are held and used.

Bitcoin used to pay for goods and services taxed as income

If you are an employer paying with Bitcoin, you must report employee earnings to the IRS on W-2 forms.

You must convert the Bitcoin value to U.S. dollars as of the date each payment is made and keep careful records.
Wages paid in virtual currency are subject to withholding to the same extent as dollar wages.
Employees must report their total W-2 wages in dollars, even if earned as Bitcoin. Self-employed  individuals with Bitcoin gains or losses from sales transactions also must convert the virtual currency to dollars as of the day received, and report the figures on their tax returns.

Bitcoins held as capital assets are taxed as property

If you hold Bitcoins as a capital asset, you must treat them as property for tax purposes. General tax principles applicable to property transactions apply.

If the Bitcoins are held as a capital asset, like stocks or bonds, any gain or loss from the sale or exchange of the asset is taxed as a capital gain or loss. Otherwise, the investor realizes ordinary gain or loss on an exchange.

Bitcoin miners must report receipt of the virtual currency as income

Some people "mine" Bitcoins by using computer resources to validate Bitcoin transactions and maintain the public Bitcoin transaction ledger.

According to the IRS, when a taxpayer successfully “mines” Bitcoins and has earnings from that activity whether in the form of Bitcoins or any other form, he or she must include it in his gross income after determining the fair market dollar value of the virtual currency as of the day he received it. If a bitcoin miner is self-employed, his or her gross earnings minus allowable tax deductions are also subject to the self-employment tax.

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February 23, 2018, 02:34:35 AM
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Although the user put a twist on it to make his/her post different from the original but it's still determinable from where it comes from and can be considered as plagiarism.

Topic : https://bitcointalksearch.org/topic/--3002413

Per definition, Bitcoin is a decentralized digital cryptocurrency and a worldwide payment system. Its's concept is peer to peer and transactions take place between users directly without intermediary.These transactions are affirmed by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. It is like investing in a stock exchange market where the profit would be very promising in a very limited time.

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Bitcoin is a cryptocurrency and worldwide payment system.[9]:3 It is the first decentralized[a] digital currency.[9]:1[10] Its conception is peer-to-peer and transactions take place between users directly, without an intermediary.[9]:4 These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto[11] and released as open-source software in 2009.[12] [/b]

From here : https://en.m.wikipedia.org/wiki/Bitcoin


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