- Category: Digital Currency
- Published: Friday, 16 December 2016 17:24
- Written by Crypto Coins News
- Hits: 3755
The IRS asked Coinbase to produce records for users over a wide time period: two years. Members of the Bitcoin Community have expressed outrage over this. In fact, even Coinbase, whose CEO Brian Armstrong oft takes a pro-regulation stance, has rebuffed the move.
Yet, many Bitcoiners take it much further, demanding a Bitcoin Economy that stands on its own. The premise is old as Bitcoin, but in recent years – as more has become known regarding how easy it is to trace some bitcoin payments – the sentiment has shrunk as an overall percentage of the philosophy directing the Bitcoin Ship. (though, the block size debate has surely obscured what’s exactly going on here)
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- Category: Digital Currency
- Published: Friday, 09 December 2016 15:32
- Written by Investopedia
- Hits: 2289
Bequeathing assets in the form of inheritance is a long standing wish for many individuals, whether it is to their children or grandchildren, to a university, or to a charity. When it comes to bank accounts, investments, or property, there are established rules, laws and protocols that are followed such as the use of wills, life insurance, trusts, and probate. How does one, then, transfer ownership of Bitcoin to their heirs?
Bitcoin addresses, also known as "wallets," represent public keys, but can only be accessed if one also has possession of the corresponding private key. Since there is no way to reverse engineer a private key given a public key hash, if the private keys are lost, so too are the bitcoin inside one's wallet.
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