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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
So, i've been playing BetOnline just for fun. I made some money and transferred that to my Coinbase account. Can IRS come to me and ask where did you get that $100 (or any value) in Bitcoins? If I transfer them to my bank account, do I pay ordinary income taxes? Other thing, I live in IL, it is illegal to play that kind of online casino I guess, what might be consequences? Or state really doesn't care?
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