All of our content is authored by highly qualified professionals and edited by subject matter experts , who ensure everything we publish is objective, accurate and trustworthy. The year kicked off with more of the same, as Bitcoin looked for direction. Afterward, miners will only earn from transaction fees. In October , BitPay reported having over 1, merchants accepting bitcoin under its payment processing service.
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Read MoreOn 4 December , Alan Greenspan referred to it as a "bubble". This article offers insight into Bitcoin's volatility and some reasons why its price acts the way it does. In addition, these regulations could stop cryptocurrency crime and tax evasion, requiring crypto companies that facilitate trades to report tax information to the IRS starting in As you might expect, given its somewhat different aims, Bitcoin does not derive its value in the same way that traditional fiat currencies do. Retrieved 27 July American Bar Association. Bitcoin is a cryptocurrency designed to be used as a payment method.