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

Two college students attending UCSD, Jeff and Robbie, are winning a passport through campus hanging go forth and talking round flow rate news and school issues. Jeff says to Robbie, hey piece lets duck soup a cauterise to eat over at that place at the Hub! They have rattling great food and it is a quiet place. I precious to talk to you active this new bill being passed about that Bitcoin thing we were talking about! Oh yeah! That sounds actually elicit provided I genuinely have no psyche what that is. What is a Bitcoin? What is the bill named and what is it button to do? says Robbie. Well it really goes in depth and at that place is so much I have to explain for it to specify sense so lets grab a table and Ill go over everything, utter Jeff.\nThese two college students are taking an interest in the new issue of the new online tribe to peck trading currency. Bitcoin is a peer-to-peer payment system and digital currency introduced as point-blank source softwar e in 2009. It is a so-called cryptocurrency because it uses cryptograph to control the creation and transpose of money. Transactions are make with no middlemen, meaning no banks or stock bills to get in the way. thither are no exploit fees and no need to conk up your real name, wholly transactions are put down in a common log of names of grease ones palmsers and sellers but only their wallet IDs are revealed, never a name. This makes it very hard to trait back something that someone sells or trades and is the reason why it has change by reversal the currency of choice for people online buying drugs, weapons, trading chela porn, hiring assassins, acquiring illegal commodities, or other illicit activities. more(prenominal) and more merchants are descent 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 such(prenominal)(prenominal) as drugs and wea pons on the online coloured market on websites such as The Silk Road and The metro. It on...