Although cryptocurrencies like Bitcoin are virtual currencies, they are treated as an asset for capital gains tax purposes, and “ordinary” investors who purchase Bitcoin as an investment will experience a capital gain or loss when they exchange it for traditional currency, products, or services.
Bitcoin hit another new all-time high above $68,000 Wednesday, two days after its previous all-time high when it went over $68,000 for the first time on Monday.
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The day after April 20, a day celebrated by marijuana enthusiasts, the SafeMoon team hosted an AMA with two of its members who joined by live video from a crypto conference in Miami. Instead of just providing updates on the token, Thomas Smith, SafeMoon’s chief technical officer, wandered around the conference floor in an unfocused way to capture attendee shoutouts and show off a painted Porsche.
Although the hype around this coin isn’t as much as it was at some point, it is still a strong digital coin that’s attracting several investors. While cryptocurrencies such as Bitcoin have limited coin supply, Dogecoin doesn’t have limits. As a result, something that started is now a cryptocurrency with several supporters and investors, including celebrities and billionaires, notably Elon Musk.
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Although transaction fees don’t accrue to sellers, miners are permitted to prioritize fee-loaded transactions ahead of fee-free transactions when creating new blocks, even if the fee-free transactions came first in time.
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Millions of Salvadorians are expected to download a digital wallet app with $30 of free Bitcoin.
Enforcement Director Joe Rotunda discusses fraud in crypto-related securities offerings:
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Cryptocurrency is a type of currency that’s digital and decentralized. Cryptocurrencies can be used to buy and sell things, and their potential to store and grow value has also caught the eye of many investors.
Income tax: Profits and losses from cryptocurrency transactions must be shown in a non-incorporated business’s accounts and are taxable/allowable under conventional income tax laws.
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In what traders call a “scam wick,” the one-minute BTC/USD differed dramatically from other major exchanges, which logged a one-minute candle with a floor of around $64,200.
Polkadot (DOT) turned down from $53.87 on Nov. 8, indicating that bears are selling at higher levels. The price has dipped back to $49.78, which is likely to act as a strong support.
“If it is a Ponzi, get in on the ground floor,” he said. In about an hour, the price of SafeMoon rose 18%. A Barstool Sports spokesperson was unable to confirm whether Portnoy still owns SafeMoon.