The Bitcoin Tax Act Bill Number: H. R. 1

Two college students attending UCSD, Jeff and Robbie, atomic number 18 fetching a firearmner of walking through campus hanging out(p) and talking closely modern cleans and school issues. Jeff says to Robbie, hey man lets apprehension a grip to eat over at that place at the Hub! They have rattling great food and it is a quiet place. I treasured to talk to you near this new bill being passed about that Bitcoin thing we were talking about! Oh yeah! That sounds authentically elicit tho I actually have no desire what that is. What is a Bitcoin? What is the bill named and what is it outlet to do? says Robbie. Well it really goes in depth and there is so much I have to explain for it to fox sense so lets grab a table and Ill go over everything, tell Jeff.\nThese two college students are taking an interest in the live issue of the new online heap to large number trading currency. Bitcoin is a peer-to-peer payment system and digital currency introduced as coarse sou rce software in 2009. It is a so-called cryptocurrency because it uses secret writing to control the creation and reassign of money. Transactions are do with no middlemen, meaning no banks or stock money to get in the way. in that respect are no deed fees and no need to egest up your real name, provided transactions are put down in a cosmos log of names of geters and sellers but only their wallet IDs are revealed, never a name. This makes it very hard to comply back something that someone sells or trades and is the reason why it has arrive the currency of choice for people online buying drugs, weapons, trading small fry porn, hiring assassins, acquiring illegal commodities, or other illicit activities. more(prenominal) and more merchants are blood line to accept them; you can buy webhosting services, pizza, and other hard goods with them. At first when the Bitcoin was created, it was used primarily to trade for illegal things much(prenominal)(prenominal) as drugs an d weapons on the online ominous market on websites such as The Silk Road and The cloak-and-dagger. It on...