1. What does the IRS think about bitcoins? What are the tax implications of bitcoins? 2. Do...

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1. What does the IRS think about bitcoins? What are the tax implications of bitcoins?

2. Do you think bitcoin or another cyber currency will replace existing traditional currency? Why or why not?

3. Besides bitcoins, what are some practical applications for blockchains? Why are blockchains appropriate in those scenarios? What companies have implemented blockchains and for what purpose?

Related Book For answer-question

Calculus

ISBN: 9781285057095

10th Edition

Authors: Ron Larson, Bruce H. Edwards

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Posted Date: Oct 23, 2023 09:19 AM

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1. What does the IRS think about bitcoins? What are the tax implications of bitcoins? 2. Do...

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Expert Answer:

1 The IRS Internal Revenue Service considers Bitcoin and other cryptocurrencies as property for tax purposes not as traditional currency This means that transactions involving cryptocurrencies are sub... View the full answer

Calculus

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