Tag: cryptocurrency

We’re hiring in Tokyo – become an editor at DowBit

Here at DowBit, we believe that Cryptocurrency is the future. Not only for the financial sector, but also for the global economy. Our mission is to publish quality content and to raise awareness for cryptocurrency by delivering stories from the world of virtual currency in a no-nonsense tone. Beginners and hardened pros alike depend on us for the latest crypto news. Who we’re looking for: Ambitious self-starter based in Tokyo with excellent writing skills and an interest in cryptocurrency markets. Duties: – translating content from English to Japanese – posting content on diverse platforms – writing articles and news...

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IRS slams the door on like-kind cryptocurrency swaps

Beginning in 2018 swapping one cryptocurrency for another will become a taxable event. As expected, U.S. president Donald Trump signed the new tax reform bill into law on Friday marking the first major revamp in over thirty years. Cryptocurrency investors will no longer be able to defer their tax payments in so-called like-kind exchanges. U.S. tax code amends IRC Section 1031 (a)(1) regarding property swaps excluding all cryptocurrencies from a former loophole. Investors will now have to declare their income from the trades. Like-kind exchanges Like-kind exchanges allow business owners and investors to defer their tax payments by trading...

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Market capitalization declines by $150 billion, all cryptos in reverse

The last few days were a great opportunity to earn money on altcoins. Many of them hit new peaks – IOTA, Ripple, Lisk, Verge…. this list goes on. This morning, the reality looks different. Investor’s blood ran cold this morning. Market Correction Investors often use the phrase “to the moon!” When the price of BTC and other coins increases. But as soon as the situation reverses, this shout turns into a desperate “hodl!” They’re usually right, but there is always a note of uncertainty. This is how the world’s current situation cryptocurrency market looks. The 20% drop applies to...

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Digital Gold for Black Gold — Oil Rich Nations Eye Crypto-Alternatives to the US Dollar

The growing popularity of cryptocurrencies may erode the dollar’s dominance. Western financial institutions, have dictated global commodities trade for decades. But now, many isolated nations are looking for alternatives. Digital currency may just be their solution. Crude Tactics The best example of this phenomenon — crude oil — is bought and sold in US dollars. This automatically links the oil market with US policy. Western powers have imposed sanctions on wayward, oil-rich countries making it difficult for them to trade in raw materials. Venezuela, Iran and Russia are most affected by Western economic pressure. Following Venezuela’s model, Russia and...

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Bypass Sanctions With Bitcoin: A Ukrainian Shipping Firm Will Do Just That

Ukrainian shipping company, Varamar Ltd. will accept bitcoin. Citing red tape, and to bypass sanctions, bitcoin may revolutionize the industry – while also increasing transparency in one of the most corrupt countries on earth. Smooth Sailing According to founder Alexander Varvarenko, Odessa-based shipping firm Varamar Ltd. is finalizing its first transaction in bitcoin with a client. Digital currency will make it easier to ship or receive goods from countries affected by sanctions. It also means less bureaucracy, and lower fees than traditional banks he said. Good Companies Victims of Sanctions Varvarenko said: Paperwork is complicated with banks. Bitcoin payments...

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