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Does Bezos think we’re bozos?

Jeff Bezos is the gadzillionaire behind a little site called Amazon.

It’s neat.

But it’s affiliate program sucks.

You get like 1% or 5% commission which is, frankly, an insult to any affiliate marketer’s intelligence.

But you can get one over on Mr. Bezos and his Amazonian cronies by getting a bigger slice of the gadzillion dollar pie.

Here’s here how;

Click Here! (Enter the Coupon Code “discountoffer” to get 37% off the already low price)

P.S. When you grab this through my link you’re also getting the free “Azon Cash Generator” Report which gives you 12 tips and tricks for you to cash in on the worldís greatest ecommerce site (delivered to you in your JVZoo customer area after you order).

Bitcoin Business Home Based Business Personal Finance

Is China Really Banning Bitcoin Exchanges, Or is it Fake News?

Amid a swirl of speculation and assumptions, mainstream media outlets in the West are reporting that China will indeed be banning Bitcoin exchanges.

This comes after the Chinese government placed a blanket ban on ICOs earlier.

The reports in publications like the Wall Street Journal and others are quoting ‘anonymous’ sources that were not providing too much detail.

Anonymous sources

According to the Wall Street Journal, and their unverified and anonymous sources, the regulators were not even sending clear messages on the details of the ban – such as when it would occur.

Apparently, one regulator told an exchange that the decision had already been made, while another said that it could take a few months.

“Despite the foggy nature of these proclamations, the Bitcoin price has taken a second dip after recovering from the news of the ICO ban in China.”

Bloomberg also reports on the claims about exchange bans but says:

“The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the matter, who asked not to be named because the information is private.”

The apparent reason for the exchange ban?

Bitcoin has been a major disruptor in China and its socialist monetary policies.

As such, it is believed that the Chinese government has perceived the growing interest of the digital currency as a threat especially as Chinese investors have been seen to buy up Bitcoin and bet against the yuan.

The anonymous source cites “too much disorder” as the reason for the alleged shutdown, echoing the Chinese central bank’s words last week criticizing ICOs for disrupting the country’s financial order.

Highly skeptical

Many hardline beliefs in Bitcoin are rightly skeptical about the perceived ban from China as there has been no official word, and no one brave enough to put their name on the news.

CEO and founder of Chinese exchange BTCC has put up a twitter poll asking if people believe that the ban is real with over 80 percent of people saying no.

OKCoin responded to this news saying:

“‘Till now we haven’t been informed by any authorities about closing BTC exchanges, if that happens, we will show notifications on our website in no time. Even if that’s the case, we would be running offline trading for users, and your balance of coins in your account will be absolutely safe.”

Re-posted from by Darryn Pollock September 12, 2017

Anonymous sources.  It’s leading to all kinds of fake news in the political spectrum and now maybe in the Bitcoin investment world.  Bobby Lee’s poll seems to indicate that but of course it’s not a scientific poll.  As difficult as it is, try to sort the wheat from chaff.  Look to other reliable sources when making your investment decisions.  In the meantime, consider becoming involved in Bitcoin mining.  I have been using two mining platforms:  Genesis Mines and Galaxy Mines.  Both have been very reliable for the last two plus years I’ve been using them.  To get more information on Galaxy Mines, click here and watch the videos.  For Genesis  Mines click here and if you’re ready to start mining today be sure use the code listed in the tile ad to the right side of your screen.  Whatever you do, I wish you the best of luck.

Business Home Based Business Personal Finance

Bitcoin Owes Success to Three Different Waves of Innovators

Cryptocurrency is a complicated mixture of several different fields, which contributes to the difficulty people have in understanding it. Even the term is confusing and often leaves novices scratching their heads. However, the multidisciplinary nature of digital currency is also probably one of its greatest strengths.

Three different types of people are drawn to cryptocurrency: cryptographers/computer scientists, crypto-anarchists and finance professionals. Each of these types brings their own unique insights and perspectives.

The first wave: cryptographers and computer scientists

Bitcoin was invented and developed by the truly brilliant Satoshi Nakamoto. Although nobody knows Satoshi’s identity, we do know that the genius was exceptionally skilled in both cryptography and software development.

Cryptography is a rather eclectic field, the forte of mathematicians and codebreakers. Satoshi possessed a strong knowledge of cryptography, and when he combined it with his understanding of computer science, he discovered the solution to a vexing problem.

For years, some rather brilliant people had tried to devise a way to enable the transfer of value among a network of people who don’t trust one another. Such trustless transactions would have the potential to disintermediate the finance world completely.

Satoshi’s solution was the Blockchain, which serves as a perfect, trustless, distributed ledger of all transactions done on the currency network he created: Bitcoin.

Satoshi announced his development on the cryptography mailing list, an obscure forum frequented by some of the best cryptographers in the world. Hal Finney was one such person, and he worked with Satoshi very early in the Bitcoin’s history. In fact, the first Bitcoin transaction that ever took place was when Satoshi sent funds to Finney to verify that the software actually worked.

Over time, more and more cryptographers and computer science gurus became associated with Bitcoin, and sometime in 2012, Satoshi vanished. Others carried the torch and continued developing the protocol.

The computer scientists and cryptographers are the founders and maintainers of Bitcoin.

The second wave: crypto-anarchists

The second wave of digital currency enthusiasts were the crypto-anarchists. They saw Bitcoin as a way to liberate the world from the grip of oppressive governments and their fiat-based financial systems. This group tended to be politically motivated and unwilling to compromise on their basic principles.

Much of Bitcoin’s anti-establishment, decentralized culture comes from this group. Satoshi himself likely sympathized with their philosophy, based on posts he made to the mailing list and on BitcoinTalk.

Because of their nature, this group abhors all attempts to regulate digital currency. To them, cryptocurrency isn’t about becoming rich or achieving mainstream adoption. It’s a social and political movement.

The crypto-anarchists are the heart and soul of Bitcoin. They work hard to ensure the project remains decentralized and true to its founding principles.

The third wave: finance experts

Somewhere around the end of 2013, the digital currency sector caught the notice of finance professionals. This group is generally less politically motivated and more willing to compromise on issues such as regulation and taxation. They seek mainstream acceptance and adoption of cryptocurrency.

These finance specialists, many of whom have Wall Street credentials, have been highly successful in increasing the adoption of digital currency. With their help, Bitcoin has made significant inroads into the traditional financial system, and its value has boomed.

Some, like the Winklevoss twins, have sought to establish options for mainstream investors to participate. Though their proposed exchange-traded fund (ETF) application was denied earlier this year, they have appealed the ruling. Recent changes in key SEC personnel could aid their cause.

Likewise, Barry Silbert founded the Digital Currency Group which has full or partial ownership of a number of important Bitcoin-related companies. The Digital Currency Group owns Grayscale Investments, which sponsors the Bitcoin Investment Trust.

This trust is publically traded under the GBTC ticker, and its value is backed by sizeable Bitcoin holdings. GBTC is one of the only ways that US investors can expose their tax-advantaged retirement accounts to the price of Bitcoin.

Entire currencies, such as Dash, have been created when finance professionals discovered something that was missing in existing cryptocurrencies. Dash was founded by Evan Duffield, who himself holds a Series 65 license, and who realized that proper incentivization was missing from Bitcoin and other currencies.

Rather than relying on altruism to get people to run full nodes (as is the case with Bitcoin), Duffield thought these “masternode” owners should be paid for maintaining a copy of the full Blockchain (and performing other services for the network.)

While the number of Bitcoin nodes has been declining over the last several years, the number of Dash nodes has been rising.

A company called LedgerX will soon release a regulated market for the trading of Bitcoin futures, following the CFTC’s approval of their request this summer. This will allow traditional, mainstream investors to expose themselves to Bitcoin more readily, and will likely prove a crucial step in an ultimate ETF approval.

The finance group is responsible for much of the Bitcoin’s mainstream acceptance to date. They have brought in institutional money and are continuing to build on-ramps for traditional investors to gain Bitcoin exposure.


Bitcoin’s strength comes from the fact that so many disparate groups are interested in developing the project.

At first glance, it might appear that the programmers and cryptographers are solely responsible for Bitcoin’s success, but this isn’t so. Crypto-anarchists, financiers and others have all played meaningful roles.

Other talented individuals and groups will likely be attracted to digital currency in the future, and they likely have unforeseen roles to play as well.

Re-posted from by David Dinkin September 11, 2017

Looking at the various groups responsible for the development and continued support of Bitcoin makes me smile.  Why?  Because their motivations are strong and appear to be true.  A good omen for the long term success and viability of Bitcoin.  If you’d like to become involved in Bitcoin or mining same, click here and watch the videos.  There are many mining operations but only a few are transparent, safe and honest.  I believe I’m involved with two such mines:  Genesis Mining and Galaxy Mines.  Perform your due diligence and see if you don’t agree.  With Genesis Mining, and Galaxy too, you can just be a customer.  Or if you wish to invite friends, family or make it a network marketing opportunity that is also available with both companies but it’s not required– with Genesis Mining be sure and use the code listed above the tile ad to the right.  Email with any questions:

Home Based Business Personal Finance

Are You A 3 Percenter?

Let me explain what that is and why it is crucial to your

There are 2 groups of people in this life…

The 97%.


The 3%.

The 97 percenters are the ones who follow the masses and let someone
else decide their futures for them.

They are the ones who like to fit into nicely designed cubicles
and are the “worker drones” that so many in the world are today.

Now don’t get me wrong. The world needs worker bees just
like they need leaders, and that’s exactly how I describe the
97 percenters. They simply follow the system, the rules, and the
dictates of what society says is possible and let the status quo
rule the show.


The 3 percenters are polar opposite of that. In fact, the 3 percenters are
the ones who change the world (for the better) by creating new things,
whether that be software, hardware, technology, or systems.

The 3 percenters are the ones who boldly forge new paths for themselves
and for those who have the courage to follow them. The 3 percenters truly
are the ones who take the spoils in this life.

A friend of mine once told me that success is reserved for the 3% in this
life who have chosen to be:

– People of action.
– Decisive.
– Quick to make decisions yet slow to change once they do.
– Those who want to make a difference in this world.
– Those who choose to show up and play their best game… a bigger game.
– Those who care enough about those around them to step up and do what needs
to be done.

So let me ask you a question. Are you a 3 percenter or a 97 percenter?

Are you someone who watches from the sidelines as others work to create the
success so many others jealously desire but aren’t willing to do what
it takes to get the job done?

You are just one decision away from success.

You are just one decision away from an amazing future.

You are just one decision away from being the person you NEED to become
so you can HAVE the future, the income, and the LIFE that you have always

Make the decision today, and change your life forever.

Carve out twenty short minutes to listen to what my friend and mentor, Jeff Lerner,  has to say and submit an application so you can see EXACTLY how he went from being dead broke to being an Internet
millionaire – and how he is teaching his students to do the EXACT same thing.

They wanted a simple, common-sense, home-based Internet business
with high integrity and years of stability, that will put them back in total
control of  their finances, their freedom, and their life.

If you want this too, watch this and let’s get you  on a call with one of our team’s Top Business
Coaches ASAP.

Business Home Based Business Personal Finance

Bubble Expert’ Shiller Vs. Brian Kelly: Bitcoin Could ‘Burst’ Or ‘Take Off’

Nobel prize-winning economist Robert Shiller has told CNBC viewers Bitcoin might “burst” again but could also “take off again.”

Speaking in a televised debate with host Brian Kelly, the well-known bubble ‘specialist’ appeared to soften his previous comments that Bitcoin was the “best example of a bubble.”

“I don’t mean to demean the innovation and the technology… but it seems to me the enthusiasm for Bitcoin is a little bit out of proportion,” he commented.

“Maybe in the future, there will be some great application of (these) cryptocurrencies.”

Shiller is the latest high-profile traditional finance figure to come out in skepticism of Bitcoin’s growth as prices circle $5,000, up four times since the start of the year.

ICO regulatory turmoil in China produced only temporary backtracking, with prices dipping to $4,000 before rebounding over 50 percent within days.

Speaking to famously bullish Kelly, the Yale professor reiterated his theory that Bitcoin’s popularity was nonetheless due to its “story,” including the “mysterious” nature of its creator Satoshi Nakamoto.

“It’s the quality of the story that’s attracting all this interest,” he hypothesized.

Kelly retorted that as a source of return on investment, Bitcoin held too much promise to overlook, regardless of its future implementations.

“Worst case scenario, if all it ever becomes is digital gold and it can only capture five percent of gold’s market cap, then Bitcoin’s price will be $25,000,” he said to Shiller.

“So for me, on a risk-reward basis, I’ll take that risk-reward … all day long.”

Last month during a spate of volatility caused by Bitcoin Cash, Kelly told CNBC viewers to buy Bitcoin at what he predicted was a “floor” of $3,600.

Re-posted from by William Suberg September 7, 2017

A healthy debate is good both for the product and the consumer.  Always perform due diligence before investing in anything, particularly Bitcoin.  Weight the pros and cons then make your decision.  As for me, I continue to mine Bitcion on two different platforms.  I first started with Genesis Mines.  If you’re interested in getting started with them, it’s not a bad choice.  They have experienced very little problems except for recently when their payout mechanism suffered some kind of a crash.  The company was very transparent in keeping their customers informed which was appreciated.  I believe they are caught up with payments and the operation is functioning normally.  Be sure and use the code from the tile ad to the right of this post.

My second mining platform is Galaxy Mines.  It’s American based, full transparent and bills itself as the safest cryptocurrency mine int he world.  So far, I would have to agree.  There have been no major issues.  What I like about Galaxy Mines (formerly Dragon Mines) is you can change which altcoin you wish to mine with a click of the mouse and you can compound your hash rate.  Very nice.  Click here to get more information; watch the videos.  Any questions, let me know.  Email:  Good luck in all of your endeavors and thanks to Cointelegraph for keeping us informed!

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Can Cryptocurrency Debit Cards Increase Day-to-Day Usage of Digital Coins?

With less than a quarter of Americans using cash in their day-to-day purchases, it’s more evidence that society is becoming an increasingly cashless environment.

On the other hand, cryptocurrencies are growing in popularity. However, most users only hold crypto to save and invest.

So with digital coins like Bitcoin, Ether and Litecoin becoming increasingly popular, why aren’t we seeing more widespread adoption?


A majority of shoppers don’t see cryptocurrencies as a valid payment option, especially when it comes to physical purchases.  To many, it’s too foreign a concept.

We grow up being taught the value of money and how to manage it. We are confident in its deemed value by being able to easily turn it into a tangible piece of paper or coin. When we want to exchange it for a product or service, there are no questions asked.

To take that mindset and change it, to trust and fully adopt a completely digital coin, can take some time.

Another big hurdle is getting merchants to accept digital currencies. It doesn’t help if people are willing to use cryptocurrencies in everyday payments but retailers won’t, or can’t, accept it.

The road to widespread adoption is a two-way street: payment and acceptance.

Big brands like AmazonMicrosoft and Apple are helping the cause by accepting and facilitating Bitcoin payments, but this is mostly for online transactions.

For physical in-store payments, merchants need the right infrastructure. This can be costly and time-consuming to implement. Not many businesses will risk this for a payment method that’s not seen mainstream adoption yet.

Debit cards encourage widespread adoption?

Cryptocurrency debit cards could bridge the gap between users feeling comfortable enough to use digital coins in their everyday lives, and merchants being able to accept them with existing infrastructure.

Most of us are happy to use a card to shop, this would not necessarily change if the card was connected to a Bitcoin account. It’s the payment method, not the underlying currency, which makes us feel at ease.

Both Visa and MasterCard have filed patents for transaction systems that use Blockchain technology, and have been experimenting with these types of payments for some time now.

The fact that established payment companies are getting on board means that existing infrastructure can be used without requiring additional work on the merchant’s end. The customer can therefore pay in a chosen cryptocurrency, while the merchant still receives payment in a fiat currency like Euro.

Opponents will often cite volatility as the number one reason for not seeing widespread adoption. It is true, cryptocurrencies can fluctuate wildly, but this is no different than what is happening to the price of fiat currencies.

Just look at what has happened to one of the world’s strongest currencies, the pound, in the last year as a result of changes in the political environment. Cryptocurrencies like Bitcoin and Ether are still young. It’s only a matter of time for them to settle into the market and for prices to stabilize.

Users are comfortable using their debit cards through current payment channels, and merchants have the right infrastructure to accept such payments. If existing payment gateways can continue to develop and facilitate crypto transactions, we will see a much wider adoption of cryptocurrencies in day-to-day life.

There are currently more than 30 crypto debit cards available from different providers.

Re-posted from by Chrisjan Pauw September 6, 2017

It’s just a matter of time before Bitcoin debit and credit cards are mainstream.  I think most people like simplicity and ease of use.  This will come eventually.  While we wait, why not consider becoming a Bitcoin miner?  I use two mines:  Genesis Mines (click the tile ad and when you get started use the code provided).  It has over 500,000 members last I saw.  Payouts are reliable and the company remains transparent with any issues that come up.  The other mining platform is Galaxy Mines (formerly Dragon Mines), the world’s safest cryptocurrency mine.  You can either just be a miner or if you want to explore the possibilities of a network marketing opportunity that’s available as well but not required.  Click here and watch the videos.  Email me with any questions:

Business Personal Finance

What Do You Know About Bitcoin? Watch this…

Not since the invention of the Internet itself has there been such a controversial technological creation as Bitcoin. Bitcoin’s early pioneers sought to blur the lines of sovereignty and the financial status quo.  After years of underground development, Bitcoin grabbed the attention of a curious public – as well as the ire of the regulators the technology had subverted. Yet after landmark arrests of prominent cyber criminals, Bitcoin, which actually surged on election night, still faces its most severe adversary, the very banks it was built to destroy.

Watch the trailer below:

Knowledge is power.  People all over the world are investing in and making money with Bitcoin and other altcoins.  If you’d like to watch the full video it’s available now on Netflix.  Watch it more than once to get a feel for the future of money.  It’s educational, instructional and motivational to see those that embraced Bitcoin in the beginning and now their names are household known.

If you’d like to become a Bitcoin miner consider two mining platforms I’ve been using for two years or more.  One is Genesis Mines.  Click the tile ad to the right and be sure use the code.  You can start mining almost immediately.  The other mining platform is Galaxy Mines (formerly Dragon Mines)–click here and watch the videos.  It’s considered one of the safest Bitcoin and cryptocurrency mines on the planet.  I’ve had no difficulty with either company.  Genesis Mines did have a crash of some sort that only affected their payouts but it’s fixed and payouts are being made on a regular basis now.  Email me with any questions:  Good luck to you!



Business Home Based Business Personal Finance

Bitcoin By 2020

By now, many Bitcoin enthusiasts are trying to work out a realistic projection for Bitcoin over the next few years.

From analyst Ronnie Moas who sees a $15,000-$20,000 value by late 2020 to independent views that point at $1 mln per Bitcoin, some of these predictions seem outrageous and outright impossible.

Following the activation of the SegWit protocol and early testing of the Lightning Network that SegWit enables, the Bitcoin market has been gradually edging to a capitalization of almost $80 billion. Bitcoin’s market capitalization is now about 50% of the entire crypto market and has now exceeded 1% of gold’s estimated $7 tln market cap. Bitcoin is nearly half of Visa’s $200 bln cap.

Bitcoin’s daily transaction numbers have been growing steadily. According to Coinmarketcap, Bitcoin’s daily trading volume is about 400,000 BTC per day while only 1728 new Bitcoins are created through mining each day.

By the next halving in 2020, the number of Bitcoins mined each day will drop to 864. By the subsequent halving in 2024, there will only be 432 new Bitcoins produced each day. Some time around 2032, nearly 99% of all bitcoin to ever exist (20,671,875) will have been mined. After that, people will spend the next 100 years trying to get their hands on the remaining 1.6%.

At some point, people are likely to realize that nearly all the Bitcoins ever to exist have already been mined, and there aren’t nearly enough Bitcoins to go around. When this happens, there will likely be major “fear of missing out” and prices should climb accordingly. If the price continues to rise as it has this year (going by the $689.80 Bitcoin price as of early July last year), Bitcoin will reach about $20,000 by the next block reward halving in 2020.

Re-posted from by Olusegun Ogundeji

The last paragraph is key here.  Seemingly a sober look at the price possibility in three years.  The author is using history as prologue.  Seems reasonable to me!  But then there’s always that wishful thinking that sometimes, maybe more than sometimes, afflicts humans.  Either way, wouldn’t it be a good idea to mine Bitcoin?  I use two mines:  The first is Genesis Mines and I’ve been with them about three years.  Except for some kind of crash recently which they have fixed, payouts are regular and without any drama.  Click the tile ad to the right and be sure and enter the code if you decide to get started with Genesis.  Then there’s Galaxy Mines.  The world’s safest cryptocurrency mine–click here and watch the videos.  It’s based in the United States and our team has visited the site so there’s plenty of transparency.  Email me with any questions:

Business Home Based Business Personal Finance

How Much $100 Investment in Bitcoin A Year Ago Worth Now?

Bitcoin price managed to rise above the $5,000 mark in trading today, fulfilling the expectations and predictions of a number of Bitcoin faithful. However, it has also led to widespread concerns that a bubble is forming that will eventually crater the portfolios of many investors.

The massive rise is difficult to grasp, without considering what the value of what an investment would be had it been purchased last year.

Consider an average investor who purchased $100 of Bitcoin in September 2016 when Bitcoin was selling for $572. Had they managed to hold the currency through all the ups and downs of the last year, they would be sitting on $850 with today’s $5,000 price point.

This fantastic level of value growth in a short time has led to wide speculation that Bitcoin is in a bubble. Consider Bloomberg’s analysis via Twitter:


Bubble talk

While it is clear from the chart that the Bitcoin price has skyrocketed in recent months, pundits disagree with the bubble analysis. Industry leaders who are otherwise notoriously bearish have seen substantial growth potential for Bitcoin.

The argument is that Bitcoin was substantially undervalued until this recent run-up, and that the only thing that had limited its growth potential was increasing mainstream adoption.

New Satoshi Cycle?


However, as news of returns spread, adoption will certainly increase, leading to greater levels of investment and growth.

This cycle of adoption and growth leading to greater adoption and growth (termed a Satoshi Cycle) may well drive prices far higher in the near term.

Further, limited supply has fueled speculation of massive valuations, some topping out at $1 mln per Bitcoin. Whether these predictions prove true, the cries of bubble and the incentive to buy and hold for the respective camps will increase concurrently.

Re-posted from by Jon Buck September 2, 2017

More bubble talk.  If you’re a long term investor as I am, pay no attention to this stuff.  There will be peaks and valley’s and if you  believe in the underlying value of Bitcoin then ride it out and reap the rewards at the end.  You can also become a Bitcoin miner.  I use two different mining platforms.  Genesis Mines (click on the tile ad in this site and be sure and use the code) or you can click here watch the videos about Galaxy Mines, the safest mining platform in the world, and see if this might be a better fit for you.  Email me with questions:

Business Home Based Business Personal Finance

IRS To Go After Bitcoin and Bitcoin Cash Profits, What to Expect

Recent developments lead many to Bitcoin mining and investing in Bitcoin as many tend to believe that it is a great start for investment. Regulators and tax specialists are now looking into cryptocurrencies and how they should be treated when it comes to income taxation.

Since there are currently no set guidelines and procedures as to how cryptocurrencies are being taxed, the recent split of Bitcoin and Bitcoin Cash has caused many investors to wonder whether profits from Bitcoin Cash will be considered “free cash” in the eyes of the taxman.

A recent report from WSJ explored the question and by the looks of it, it’s still a draw.

Bitcoin and Bitcoin Cash

Bitcoin is a cryptocurrency or what people describe as digital cash. It is a centralized ledger and is accessible by all parties involved from any parts of the world. The specifics of Bitcoin Cash is that the BCH is a new cryptocurrency initiated by miners and Blockchain developers in responses to scaling issues.

In Bitcoin network, the verification process usually takes up to 10 to 15 minutes or even longer – a lot when you compare it to debit cards. Such slow process and often network congestion lead the developers and miners to the idea that the more people are making transactions at the same time, the more its network scalability and speed will be challenged.

The mining pools agreed to integrate the technology with SegWit or the Segregated Witness.

SegWit2x makes the signature and verification data even smaller. SegWit2x, however, does not fix the problem completely.

In August, miners and developers initiated a hard fork which resulted in ‘split’ and born of a new currency called Bitcoin Cash. The latest version is claimed to have faster verification process and upgrades the blocks up to 8mb.

IRS on taxing Bitcoin Cash

Now, those who have been holding Bitcoin before the fork happened have received Bitcoin Cash equivalent to the number of Bitcoin in their wallet especially for wallets and exchanges that supported the split.

While there are currently no existing guidelines as to how Bitcoin (and now Bitcoin Cash) are treated regarding taxation, according to, what’s clear with the situation is that there are applicable income taxes whenever you sell either or both Bitcoin and Bitcoin Cash holdings.

While many Bitcoin and Bitcoin Cash may think it’s “free money,” hence not necessarily taxable, the IRS thinks otherwise. Several Reddit users chimed in the issue, with one user clarifying:

“The IRS has already stated that Bitcoin is treated like property. Mining is considered income. Hodling is the same as owning gold. A $0 cost basis means that you got capital for free, and if you sell it 100 percent is gains.”

The treatment for cryptocurrencies can be at zero cost. If the owner sells his Bitcoin Cash and receives the 100 percent profit as capital gains income, it will be taxable.

Thus, the declaration should be a normal income as part of his capital gains in 1040 Schedule D. A Bitcoin Cash owner can opt to report his BCH as income and pay the tax amount required.

According to 2014-21 Notice of IRS:

“Virtual currency is treated as property for US federal tax purposes.”

The principle for the General Tax for properties is also applicable to the transactions in virtual currencies.

For IRS, Bitcoin is a capital asset which is also subject to short term capital gains if sold for less than twelve months or long-term capital gains if sold within a year. IRS applies the 15 percent to 20 percent tax rates as based on income. The fair market value will be the price.

With sophisticated systems in place by the IRS, US investors, in particular, are recommended to check with their accountants and tax specializing in their specific state regulations in order to ascertain their compliance with their specific federal and state taxes and avoid getting in trouble with the taxman.

Re-posted from by Lisa Froeling September 2, 2017

It was only a matter of time before the government in the United States identified Bitcoin/altcoin gains to tax.  I’ll see if I can find my post about software which will track your Bitcoin activity and make it easier for reporting and filing your taxes.  In the meantime, it might be a good idea to start mining Bitcoin.  I use two mines.  The first I started with is Genesis Mines with no problems except recently when there was some kind of disruption in their payment schedule.  They are now back up and running on schedule.  The other mine I use is the safest cryptocurrency mine in the world–Galaxy Mines.  To learn more click here and watch the videos.  Email me with any questions: