Posted by Techvibes Newsdesk on Nov 14, 2013 Xen Accounting announced this week that they will now be accepting Bitcoins as a form of payment for their accounting services. Having already set up an e-commerce website to accept credit card payments for its fixed-fee accounting packages,… and freelancers in the tech community. Designed for modern day business owners who are always connected and always on the move, Xen Accounting uses cutting edge cloud and mobile accounting technology in order to blend innovative software experiences with personal, professional... more

Robert W. Wood ,Contributor I focus on taxes and litigation. Taxes | 6/18/2013 @ 4:17PM | 9, 779 views Bitcoin is virtual currency with no central bank or government. What does the federal government think of it? The IRS could do a better job telling people they have to pay tax on Bitc…Currencies . The IRS started watching such issues in 2007. In 2009,the IRS posted information on its website on the tax consequences of virtual economy transactions. However,IRS has not provided taxpayers with information specific to virtual currencies. Does that mean IRS doesn’t care?

Wed, Nov 20, 2013 | 05:17 GMT Tweet US eSports organisation ESEA has agreed to a $1 million settlement over malware hidden in its client by a couple of rogue employees. The settlement follows a July lawsuit. In a statement issued by the New Jersey attorney general, the malware allowed …y clear that we do not agree, nor do we admit, to any of the State of New Jersey’s allegations. The press release issued by the Attorney General about our settlement represents a deep misunderstanding of the facts of the case, the nature of our business, and the technology in question.

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Ultimately, Bitcoin’s gee-whiz experimenters will understand why it is actually a good thing to have a monetary system that is law-governed and well-regulated, and whose market value doesn’t oscillate wildly in response to speculative frenzies. Notice that the current surging value of … recipient will convert them into the currency of choice. It will be a small appendage to existing currency systems, not an alternative to them. The government will take its tax cut out of the currency conversion, and any capital gains resulting from the buying and selling of bitcoins.