CNN reports that the IRS quietly deleted the language, with IRS Chief Counsel Michael Desmond telling reporters that the addition of the virtual gaming currencies alongside Bitcoin was a mistake. Perhaps the IRS realized that there is no official way to convert most currencies like V-Bucks back into cash. Though V-Bucks are sometimes used to launder money on the Dark Web, most people use them to purchase new cosmetic it

The Roblox stock was initially listed at an estimated $45 and jumped to $65 within seconds of going live to the public. At its peak, the company's stock hit an impressive $74.55, but trickled back down to a $69.50 closing price with a 54% gain (via Barrons ). The Roblox stock had plenty of competition thanks to GameStop's incredibly chaotic stock battle . GameStop almost hit $350 today but got hit hard, flying down to $180 at its lowest, but quickly came back up to a closing price of $265. The GameStop stock closed above its previous close of $246.90, but its gains weren't nearly as impressive given the strong decl

One day after Roblox 's stock hit the market, and things are looking up. The Roblox stock was reported to go public a couple of weeks ago, but it finally opened its doors to the public this afternoon. Many had expected the stock to go live as the market opened at 9:30 AM ET or at noon, but it didn't go live until much later in the aftern

Desmond initially refused to clarify whether virtual game currencies would need to be reported. Still, the IRS later explained that virtual currencies that do not leave the game environment would not need to be included on tax returns. Robux, however, can be converted back into cash, so the IRS may still want to get a piece of that action. Despite the removal from the website, the 2019 IRS tax form 1040 asks, " At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency ?" Taxpayers will need to answer "yes" if they received any virtual currencies for free, have sold any, or have traded any for goods or services - even other virtual curre

April Fools' Day jokes have always been a source of collective laughs and painful disappointments among gamers, and April Fool's 2020 was no different. Developers have now grown accustomed to using the madness of the day to maximize the possibility of trending, and in the case of the Roblox game Adopt Me! , use the opportunity to cause a potential major spike in the number of people playing their game. If ever there was an optimal time for developers to get free marketing, it would most likely be April Fools' Day... but few people would have suspected it could be achieved with only a pet r

Brookhaven is a role play title inside Roblox that has __ incredible popularity among streamers. Recently, we talked about Mackenzie Turner, one of the well-known Brookhaven streamers who almost updates a new fun story from the game every day in her YouTube chan

Roblox creator DreamCraft decided to run an April Fools' Day joke update themselves this year, offering players of Adopt Me! a free temporary pet rock that could be acquired in the game. According to PC Gamer , this anecdote unexpectedly resulted in Adopt Me! having over 680,000 concurrent players. These numbers are almost triple what the current most popular game on Steam, the RPG Mount & Blade II: Bannerlord, had on the same day, with that game logging roughly 230,000 concurrent players. Those who decided to obtain their free new pet were humorously treated to a pet rock with the visuals of a toddler’s drawing. Adopt Me! has had over 5.3 billion visits to the game since its creation in 2017, which is no surprise considering Roblox has over 100 million active users . Check out a video of the rock in action below, as shared by the game's official Twitter acco

One of the key factors to Roblox’s success over the years has been their platform which allows players to design and create their own games using Roblox’s creation engine, ROBLOX online guide|https://robloxrealm.com/ Studio . This gives users the opportunity to exercise their creative freedom and come up with titles that may go on to become successful and earn them money through in-game purchases. This ability has led to the release of thousands of titles, each quirky and unique in its own right. With games such as Jail Break, Flee the Facility, Super Hero Tycoon and Adopt Me!'s predecessor Adopt and Raise a Baby! , Roblox has become an unconventional avenue to mainstream success in the gaming indus

Roblox is a great playground for gamers and those who want to create a gaming experience at no cost. The platform is home to a lot of fan-made games in different genres and welcomes more and more players every

At this point, nearly every major game utilizes some form of virtual currency. Though the IRS removed the language that included gaming currencies (for now), it's clear that it has realized the amount of money that can be leached from gamers if it moves forward with reporting requirements for purchased in-game currencies. Most gaming currencies function like gift cards: the currency is bought, and then can be used to buy in-game items. If the IRS moves forward with something like this, it would be like taxing a person's income and then taxing them again for buying a gift card. That this language was on the IRS website at all was reckless, and more than a little bit ridiculous. Still, it does act as a sign that gamers, especially streamers who accumulate large amounts of virtual currencies, have a lot to worry about if the IRS decides to tax in-game mo