Title: 10 Reasons Why Bitcoin Will Fail - Listverse
Headings: 10 Reasons Why Bitcoin Will Fail
10 Reasons Why Bitcoin Will Fail
10 Blockchain > Bitcoin
9 Big Brother Is Watching
8 The Lack Of Leadership
7 Laws And Regulations
6 Use Cases
5 Time And Mining Problems
4 Fear, Uncertainty, And Doubt
3 Will The Real Bitcoin Please Stand Up?
2 The One Percent Hate Bitcoin
1 The End Of The World As We Know It

Content: Both Buterin and Garlinghouse met with central banks and the Federal Reserve in October 2017, but Bitcoin did not have a seat, because there is no leader to represent them. 7 Laws And Regulations
In October 2017, China declared that it was illegal to create an “ICO,” which stands for “Initial Coin Offering.” Start-up companies were learning how to use blockchain to make their own spin-off coins to raise funds. The only downside was that a lot of these coins were fraudulent. A few fake coin companies took millions of dollars from desperate people who were trying to invest so they could “get rich” on these ICOs. In New York, all businesses who want to accept Bitcoin are required to register for a “BitLicense” if they want to do business. The license promises to comply with United States taxation laws and regulations. The application costs $5,000, and there are 500 pages of legal paperwork that would require a team of taxation lawyers to decipher. For most businesses, it’s simply not worth the money, time, and effort to accept Bitcoin when so few people will actually use it in their stores. [ 4]
In 2014, the IRS released a guideline that anyone who profits from digital currency needs to pay taxes in the same way that anyone selling their stocks or bonds must pay their taxes.