Bitcoin is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments. Bitcoin, the digital currency, has been all over the news for years. But because it’s entirely digital and doesn’t necessarily correspond to any existing fiat currency, it’s not easy to understand for the newcomer. Let’s break down the basis of exactly what Bitcoin is, how it works, and its possible future in the global economy. Bitcoin Mining Definition Breaking down everything you need to know about Bitcoin mining, from blockchain and block rewards to Proof-of-Work and mining pools. more Bitcoin is a cryptocurrency created in 2009. Marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. The Simple Fact of the Matter Tax accountants can be very conservative when it comes to IRS regulations or guidance. However, in 2014, the IRS decided to classify cryptocurrency as property  .
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