More Than Finances

All about cryptocurrency, all the time.

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Why Is Segwit Adoption Rate Bullish?

Why is the SegWit adoption rate bullish

Why is the SegWit adoption rate bullish? Some sources report there is data that indicates a growing number of all Bitcoin transactions are using Segregated Witness or SegWit. That number is as high as 66% according to multiple reports.

There are three main benefits to using SegWit. Segregated Witness is described by CoinTelegraph.com as a “soft work protocol that changes the method of storing data” proposed in 2015 as a way to address scalability issues for Bitcoin.

How SegWit Works

SegWit operates by “segregation of the digital signature from the transactions data”. CoinTelegraph’s description of the process reminds, “digital signature is 65 percent of transaction” and removing that from the data “will increase Bitcoin’s blockchain maximum size from 1MB to a little under 4MB”.

SegWit innovations have also improved security–it was possible before to alter the digital signatures on transactions but under SegWit such signatures are no longer part of the data. No corruption is possible (in this specific context) when the signatures simply aren’t available to modify.

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The IRS Is Watching Cryptocurrency Traders

tax cryptocurrency

Does the IRS tax cryptocurrency? Yes, they DO. And if you trade in cryptocurrency, don’t lie to the IRS about it–or ignore their communication with you regarding such cryptocurrency issues.

That’s the latest word from a variety of sources including the Internal Revenue Service itself, which reminds traders, “Virtual currency transactions are taxable by law just like transactions in any other property. Taxpayers transacting in virtual currency may have to report those transactions on their tax returns.”

You read that correctly, consumers are being advised that when the IRS chooses to tax cryptocurrency, they do so with an eye on extra scrutiny on those perceived to be flaunting the rules.

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How to Make a Cryptocurrency Wallet

how to make a crypocurrency wallet

Do you want to learn how to make a cryptocurrency wallet? Storing cryptocurrency is an important part of using it, and newcomers to Bitcoin, Ethereum, and other currencies quickly learn having a cryptocurrency wallet isn’t the only major consideration–finding a service provider you trust is also an important detail.

Before You Make a Cryptocurrency Wallet

Those new to digital currency should not expect to code their own crypto-wallet. You will need to find a third-party provider and finding one you trust will be a major issue. When you search for online articles explaining how to make these wallets, oftentimes you’ll find authors encouraging you to use one provider or another. Should you take their word for it?

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How Do Online Installment Loans Work?

Given the current economic conditions, saving can be a difficult task. Statistics show that approximately 69% of Americans have less than a $1,000 in their account. In trying circumstances, one might need to take out large sums of money and that’s were online installment loans come into play. Read More

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What Is Cryptojacking?

what is cryptojacking

What is cryptojacking and why should you be concerned with it? It’s something I think about every time my cell phone begins operating slower than usual, or my laptop behaves in unexpected ways; some of the causes for both are routine, and some of the potential causes are definitely NOT. What’s the difference?

Computer experts routinely warn consumers to pay attention to the performance of their devices as unusual behavior, slow response times, and other issues may be caused by a computer virus or other hacking attempts.

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