The IRS has a MAJOR hard on for bit coins and not just the IRS in this country. You never WIN an audit, the very best you can hope for is to run up a bunch of expenses and end up with a draw. IMO anything that increases your chances of an audit is a BAD thing. Using bitcoin will definitely get you on the radar of the IRS. Even if everything else about it was just as advertised, will still pass on them simply for that reason alone.
CHICAGO— MasterCard Inc. said it has stopped processing ad purchases on Backpage.com, as payment-card networks become the latest front for public officials trying to crack down on the adult section of the controversial classified-ads website.
Only Visa still processes for BP adult ads. How long until they throw in the towel? American Express has already stopped.
Not good news for those that use BP as their primary marketing tool.
Sheriff Dart of Cook County has been pushing this.
Won't affect me.
This should only have an impact on the left, much of the left's funding comes from illegal enterprise. I've never seen a criminal organization donate money to the right.
Backpage accepts bitcoin. The government may be able to pressure the banks and cc companies into doing its bidding but since bitcoin is not a discrete enterprise it can not be coerced. Cutting off BP from bitcoin would be problematic without causing collateral damage.
I hope the ladies start accepting bitcoin too.
anyonr have resources for learning about Bitcoin?