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Posts tagged "bitcoin"

The IRS Remains Unclear on Bitcoin

With bitcoin's phenomenal success this year, many are left to wonder how the virtual currency will be taxed. Released in 2009 by an unknown person or group known only by Satoshi Nakamoto, bitcoin is the most prominent of several "virtual currencies," and is maintained by a decentralized network of computers called "miners." These miners process and verify transactions. All bitcoins in circulation are estimated to be worth a total of $8 billion, according to CoinDesk.

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