Bitcoin Under Attack


Bitcoin is under attack, but why? What's in it for the government? Billions.


It's no secret that those of us over here @IRSMedic World HQ like to talk about things like bitcoin.  We've written about how users of the digital currency might be required to report their bitcoin holdings to the IRS, and we've also discussed the complexities that might arise if, say, this attorney was paid in bitcoin.  (By the way, Robert Woods over at Forbes discusses additional issues with being paid in bitcoin here.  I'll forgive him for being a month late on this one, because his analysis is rock-solid).  So, we like to read/write/talk about bitcoin.  But it's hard to keep up these days, and it's hard to know if bitcoin itself is under attack, or if bitcoin is always going to be involved when the government goes after cash-like transactions on the world wide web. I'd say it's the former.

To frame the issue, here's some commentary from another Forbes writer, Peter Cohan.