The IRS has announced that, under the US tax code, Bitcoins are
to be recognized as property not currency.
NOT LEGAL TENDER
The IRS also said that virtual currency is not to be treated as legal-tender currency to determine if a transaction causes a foreign currency gain or loss under U.S. tax law.
More developments are sure to come.
Has the real Satoshi Nakamoto indeed been found?
It has been over four years since “Satoshi Nakamoto” posted on the P2P Foundation forum and announced his development of Bitcoin v0.1.
This evening as the world discusses Nakamoto’s unveiling, the same user has declared, “I am not Dorian Nakamoto.”
It is possible that Dorian Nakamoto is attempting to diffuse the media frenzy that is surrounding his discovery, by denying his true identity. Dorian Nakamoto has retracted his confirmation as the Bitcoin developer (as reported in the Newsweek story) and since denied that he is the Nakamoto who developed Bitcoins.
Newsweek reporter, Leah McGrath Goodman, has broken a story which many thought was as unbreakable as Bitcoin itself, the identity of its creator.
Read the article here.
Many had speculated that Satoshi Nakamoto was either a pseudonym, a collective or hackers or even the brainchild of a major governmental agency. What most people didn’t assume was that the man who put the name on the original Bitcoin white paper was actually a man named Satoshi Nakamoto.
Much mystery still surrounds Satoshi Nakamoto, such as his past dealings with defense contractors and why he no longer visibly participates in the currency he birthed.