Meet Charlie Lee, Inventor Of Litecoin Cryptocurrency

By Leigh Cuen On 08/20/17 AT 7:00 AM

If future generations buy their coffee with cryptocurrency, they will have globetrotting programmer Charlie Lee to thank for it.

Lee was born in the Ivory Coast, West Africa, and immigrated to the United States at thirteen. He read a Wired article about the Silk Road black market back in 2011, when Lee was still a Google software engineer who dabbled in gold trading on the side. Intrigued, he immediately reached out to Bitcoin Core developer Mike Hearn and bought a bitcoin from Hearn. Soon Lee was mining bitcoin and buying computer equipment off the darknet.

“I really didn’t expect it to become what it is today,” he said. “Just for fun… I wanted to create silver to bitcoin’s gold.” Lee left Google and worked at the world’s most popular bitcoin exchange, Coinbase, before dedicating himself completely to his brainchild “litecoin” in the summer of 2017.

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Video Source – IBTimes

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The Cryptocurrency Boom is a Once-in-a-lifetime Opportunity

Search through your coat pockets… behind the sofa cushions… the glove compartment of your car.
Because all it takes is some spare change to capitalize on the stock opportunity of a lifetime: cryptocurrencies.
If you make the right moves, you could find yourself jumping for joy on top of an enormous pile of cash.
Ready or not, a growing number of economies, banks, and billionaires are backing these new forms of tender.
And once you understand how easy it is to profit from cryptocurrencies, it’s easy to see why…
The cryptocurrency market is preparing to take off.
And the only time to buy is now.

Source – StrategicTechInvestor

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Is Bitcoin Really Anonymous? IRS Moves To Track Cryptocurrencies With New Chain Analysis Tools

Authored by Mac Slavo via SHTFplan.com,

Last month Alt-Market.com founder Brandon Smith warned that Bitcoin may not be all that it’s cracked up to be in terms of its purported anonymity:

For years, one of the major original selling points of bitcoin was that it was “anonymous.” It always surprised me that so many people in the liberty movement bought into this scam.

Surely after the revelations exposed by Edward Snowden and organizations like Wikileaks, it is utterly foolish to believe that anything in the digital world is truly “anonymous.”

The feds have been proving there is no anonymity, even in bitcoin,…

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Source – Zero Hedge

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Your Bitcoin is NOT Anonymous: IRS Moves To Track Bitcoiners With New Chain Analysis Tools

By:  Mac Slavo  August 25th, 2017

…Because every transaction exists on a public blockchain ledger, an enterprising organization – say like the NSA or IRS – could conceivably implement blockchain analysis tools to track down Bitcoin fund transfers around the globe. These days most bitcoin transactions are originated on “trusted” exchanges that exist in Western nations, where governments have always found new and innovative ways to ensure citizens have no privacy whatsoever, especially when it comes to personal finances. This means that there is more than likely a record of your original Bitcoin transaction, perhaps involving a credit card or bank transfer, and if regulators ask an exchange to turn over the information you can bet they’ll do so in order to avoid unwanted government scrutiny. Moreover, most exchanges now require a driver’s license, passport and even a phone number in order to approve your account for trading…

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Source – SHTFplan.com

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IRS Crackdown; Tracking Bitcoiners with Chainalysis

By  Sterlin Lujan  Aug 24, 2017

According to a contract recently obtained by the Daily Beast, the IRS can now track bitcoin and other cryptocurrency addresses. They can do this to route out potential tax evaders. They purchased software from the blockchain analysis group Chainalysis.

The document details that “criminals” have used digital currencies to launder money, deal drugs, and commit other unlawful behavior. However, criminals have also been using digital currencies to ignore tax liabilities and evade responsibility. The Daily Beast article elaborated:

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Source – Bitcoin.com

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IRS Now Has a Tool to Unmask Bitcoin Tax Cheats

Cryptocurrencies were supposed to be largely anonymous. But a software tool gives the IRS has a better chance of identifying people who hide their wealth.

By:  Joseph Cox   08.22.17 12:00 AM ET

You can use bitcoin. But you can’t hide from the taxman.

At least, that’s the hope of the Internal Revenue Service, which has purchased specialist software to track those using bitcoin, according to a contract obtained by The Daily Beast…

…The IRS has approached bitcoin tax evasion in some more controversial ways in the past. In a legal order filed last November the IRS demanded the identities of all US users of the bitcoin exchange Coinbase over a three year period. The case is ongoing.

Source – DailyBeast

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The IRS Has Special Software to Find Bitcoin Tax Cheats

By:  Jeff John Roberts    Aug 22, 2017

One benefit of using bitcoin is the digital currency can be anonymous—its owners can move money around the world without revealing who they are. Well, in theory at least. In reality, bitcoin is less secret than people think.

The latest reminder of this comes via a report that the Internal Revenue Service is using software to unmask bitcoin users who have failed to report profits. According to a contract unearthed by the Daily Beast, the IRS is paying a company called Chainalysis to help identify the owners of digital “wallets” that users employ to store their bitcoins.

In a letter to the IRS, the co-founder of Chainalysis says the company has information on 25 percent of all bitcoin addresses and that it deploys millions of tags to help track and identify transactions. Here is a screenshot of a paragraph from the letter:

Video Source – Fortune