This Week in Bitcoin: Taxes, Forks, Pranks and Porn

Bitcoin in Brief is your roundup of everything that matters from all over the vast cryptosphere that you might have missed. This week’s daily editions included stories about taxes, forks, pranks, porn and so much more. This weekly edition will bring you up to speed with everything covered; just make sure you keep up.



Also Read: Robinhood App Expands Cryptocurrency Trading to Another US State

A Panther’s Moonshot Bet

On Monday we reported why Pantera Capital bets on a moonshot bitcoin price point, how the world’s most popular decentralized digital asset has been forked more than 70 times, and a growing list of countries likely to let you keep your crypto profits. Additionally covered were Yahoo! Japan which confirmed that it is entering the crypto space by acquiring a stake in an exchange, and a good-hearted wager between bitcoin core and bitcoin cash supporters that exemplifies how ecosystem actors should treat one another.

The Tax Man Effect

The world’s biggest economy faced the tax man on Tuesday, as the United States and its crypto traders had to pay for last year’s gains. Economists and market bulls were insisting that this fact caused dramatic sell offs, leading to haircuts across the board. We also covered I Pay You, the supposed hack of Ian Balina, and the release of a bitcoin themed clothing line for babies.

Pornhub? We’ve Never Heard of Pornhub

On Wednesday it was revealed that Pornhub, a website we’re sure you never heard of before because nobody watches porn on the internet, has joined the crypto revolution. We also reported about how South Korea’s loss of ICOs is Switzerland’s gain; how bitcoin is blamed for every crime under the sun; why Ethereum’s Vitalik Buterin is accused of favoritism; and why bitcoin cash (BCH) is getting a ton of love from CNBC’s Brian Kelly.

ICO Scares Investors With Ghost Prank

On Thursday we indulged ourselves with a bunch of crypto crime news stories, including an international bitcoin heist escape, the fury of a scorned woman, a bear spray robbery, and some whole food violence.

The biggest issue of the day was a German online news source claiming that Savedroid has apparently taken the money and run. The company website was replaced with a meme picture, “Aannnd it’s gone.” Founder and CEO Yassin Hankir tweeted a picture of himself on a beach, long gone. All this after having raised $50 million in an ICO. Investors were not pleased.

Truths, T-Shirts, Things That Matter

The most talked about issue on Friday was the stance that Kraken’s chief executive took against the latest actions by authorities in New York. Jesse Powell has refused to complete a questionnaire, and instead respond with strong-worded language. “When I saw this 34-point demand, I immediately thought ‘The audacity of these guys – the entitlement, the disrespect for our business, our time!…I realized that we made the right decision to get the hell out of New York,’” he said.

We also reported about a deal between privacy web browser Brave Software and Dow Jones Media Group to test blockchain technology in digital publishing; and another crypto clothing line – this time for hip adults – by The Hundreds a streetwear brand from Los Angeles.

Coinsecure Working With Authorities

Coinsecure, the hacked Indian bitcoin exchange, has updated clients on Saturday about its repayment plan. The team said they have been flooded with calls and emails over the last few days regarding the disbursement of funds. And they claim to have been working with the authorities tirelessly since the incident and that there have been a lot of back and forth with several data requests. They add that they have been working on providing the data requested and that has consumed the majority of their time.

They wrote that: “We’d like to inform you, that we have started work on the claims process. Our legal team is currently reviewing contracts and our teams are working on putting together the claims form for your perusal. We are hoping that by the following weekend, we should get started and you should be able to submit your claims withdrawal requests. Please understand, that with authorities being involved and investigations underway, things do slow down a bit and we have to follow processes outlined by the authorities.”

What other stories everyone in the bitcoin world must have read this week? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

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