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daily bitcoin - fails currency test in Finland

Posted on 1/20/14 at 10:04 am
Posted by tigermoney
Member since Oct 2008
366 posts
Posted on 1/20/14 at 10:04 am
Posted by Poodlebrain
Way Right of Rex
Member since Jan 2004
19860 posts
Posted on 1/20/14 at 10:31 am to
quote:

The U.S. Internal Revenue Service hasn’t offered guidance on Bitcoin beyond saying it’s working on the issue and that it has been monitoring digital currencies and transactions since 2007.
Bitcoins weren't around until 2009. Seems the government was concerned with so-called digital currencies before Wiki. Do you think the IRS might have devoted any resources to mining Bitcoins to keep track of developments? Wouldn't it be ironic if the government owned a significant portion of the digital currency some have forecast will topple governments?

I wonder how the IRS has been monitoring transactions?
Posted by Teddy Ruxpin
Member since Oct 2006
39582 posts
Posted on 1/20/14 at 10:44 am to
quote:

I wonder how the IRS has been monitoring transactions?



If they're using NSA computers, they know quite a lot.

If not, I imagine they know very little, because, hey, its the government we're talking about here.
Posted by brucevilanch
Fort Worth, Tejas
Member since May 2011
24333 posts
Posted on 1/20/14 at 1:30 pm to
quote:

I wonder how the IRS has been monitoring transactions?


That's a question that we've all been waiting for someone to answer.

I know guys who are making 80k a year from mining cryptocurrencies. All of them are reporting it because it's too easy for the IRS to ask how you randomly have $2000 a week deposits into their bank accounts.
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