A city in Canada is letting people pay taxes in Bitcoin - page 3.

YoloBull

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Quote from: mrdeposit on April 17, 2019, 03:14:05 PM

Indeed we can count this as good news for both Canada based crypto traders and our community. Hope other countries will take a lesson from Canada government and will accept similar decisions on a governmental level.

Even at a local level it'd be really positive, until whole countries adopt it. At least now, at a local level, we have more power to affect the decision making process and push this idea through. That's where some of this change can happen now.

CryptoTotem.com

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This is still a local experiment, but this is good news!

mrdeposit

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Indeed we can count this as good news for both Canada based crypto traders and our community. Hope other countries will take a lesson from Canada government and will accept similar decisions on a governmental level.

MakeMoneyBtc

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This are definitely some great news especially because we are talking about a city from Canada, not a city from India or some kind of poor country where no one would actually use bitcoin as a payment. Of course we are not talking about a big city here but it's just the beginning and it looks promising

Nolimitz84

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Undoubtedly, this is good news. But why does only one city have such an opportunity? Crypto-enthusiasts live there most of all?I want to see the news when using bitcoin you can do absolutely everything, regardless of location!Perhaps in 10 years it will be so.

LUCKMCFLY

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This is very positive and this is what progress should lead to all the countries of the world, Canada is giving a clear example of what could be the total adoption of payment, and it would be left to them to change directly to USD or Local currency or keep to see if the price rises and start to see profits.

I think that this type of news should pass through all the news channels of CNN, BBC, CBS, and all social networks so that they can get to know and reach more people. If we take into account the technological point of view, the advance is huge, because the transactions do not last to arrive, they are easy and safe to do, and it is impossible to steal ... I believe that this security helps people a lot to make their payments .

shesheboy

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i agree on what of the most users are saying . this kind of news is another good news but this was not really surprising at all because this idea is not new . on some wallet and some online service they do also enable you to pay your taxes using bitcoin and other cryptos . they also offer more service as well which was good because we can do multiple things in one platform . i dont need to promote the said wallet and sites , you can just google it by yourself if you want to .

YoloBull

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Quote from: CryptoTotem.com on April 17, 2019, 02:49:31 AM

This is still a local experiment, but this is good news!

Even though it's local it will be a huge shift in the collective consciousness when people start thinking about paying taxes in bitcoin, as (unfortunately) if you can't pay your taxes with it, adoption will be a lot harder to push. I'm really glad to see this development underway.

Pamadar

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Quote from: Noa_Amable on April 17, 2019, 01:44:23 AM

Quote from: AXELNetwork on April 16, 2019, 10:14:07 AM

This is great for Bitcoin adoption! Innisfil, Ontario in Canada is now accepting property tax payments in Bitcoin:

https://www.youtube.com/watch?v=-YdQ2LOuduI&feature=youtu.be

well, well, well that's really a great news! Grin

the next step would be introducing crypto for other governemnt payments including fees and penalties in crypto.

That's another ways to introduce this chain, allowing the government to initialize and make things clearer for those people who still in doubt from this new system of payment process, if this kind of adoptions will continue surely it will be more usable than we expected to happen.

Johnzky

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Quote from: AXELNetwork on April 16, 2019, 10:14:07 AM

This is great for Bitcoin adoption! Innisfil, Ontario in Canada is now accepting property tax payments in Bitcoin:

https://www.youtube.com/watch?v=-YdQ2LOuduI&feature=youtu.be

Thats one good news on what has bitcoin reached,if i am not wrong i guess theres som states in america that accept also bitcoin like this!?sorry correct me if I’m wrong but this is what we all need to happen the government will adopt cryptocurrency

maldini

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Canada has long supported cryptocurrency, but this can be good news for the world. So that other countries can imitate Canada in the use of bitcoin, and educate the public about bitcoin

bering

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Indeed this is good news and i'm glad to see if there are countries who decide to involved in crypto world because this necessary to increase development of crypto for globally but i was wondering how far this will be successfully helpfull for the people on that country

Leonardo7

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We know all these gradual adoptions will eventually come up, we now need the government and the big banks to give licenses to real sectors to trade and start accepting cryptocurrencies, this will ensure a good inflow of money to the existing market, which will make the market to be more stable.

CryptoInsights

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https://www.ctvnews.ca/canada/ont-town-first-in-canada-to-accept-bitcoin-for-property-tax-1.4379367

Residents of Innisfil, Ont. can now pay their tax using cryptocurrency, in a move that’s made the town the first municipality in the country that accepts Bitcoin.

The town entered a one-year pilot project this month, partnering with Coinberry Pay, a Toronto based crypto currency company to process bitcoin payments for property taxes.

Juggy777

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Quote from: maldini on April 16, 2019, 10:14:54 PM

Canada has long supported cryptocurrency, but this can be good news for the world. So that other countries can imitate Canada in the use of bitcoin, and educate the public about bitcoin

Hey yes their Prime Minister has a lenient approach towards bitcoins, and that’s why adoption rate has grown a lot there. I really like the idea of paying one’s taxes in bitcoins as people won’t hide the fact they have money in the form of bitcoins, and government will receive a steady revenue from the taxes. Also like you have said I’m hoping other countries imitate them, and allow taxpayers the option to pay taxes via bitcoins.

Noa_Amable

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Quote from: AXELNetwork on April 16, 2019, 10:14:07 AM

This is great for Bitcoin adoption! Innisfil, Ontario in Canada is now accepting property tax payments in Bitcoin:

https://www.youtube.com/watch?v=-YdQ2LOuduI&feature=youtu.be

well, well, well that's really a great news! Grin

the next step would be introducing crypto for other governemnt payments including fees and penalties in crypto.

Sithara007

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Quote from: maldini on April 16, 2019, 10:14:54 PM

Canada has long supported cryptocurrency, but this can be good news for the world. So that other countries can imitate Canada in the use of bitcoin, and educate the public about bitcoin

Yes. Canada is one of those countries that has taken a less hostile approach to the cryptocurrency. In fact that is one of the few things that I like about Justin Trudeau. The regulations and policies in the United States are much more hostile.

ranman09

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Quote from: Haunebu on April 16, 2019, 10:39:08 AM

I think this is old news. Heard about this through a thread somewhere in the forum before. This is good news, but this is a single city and not the whole of Canada that is allowing people to do this.

Some of my friends in Canada did inform me that the entire country might provide this feature in the near future though. Exciting times!

Wow, that is great news! So much adaptation news nowadays in the bitcoinsphere. I hope everything fires up bitcoin prices.

Slow death

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Quote from: AXELNetwork on April 16, 2019, 10:14:07 AM

This is great for Bitcoin adoption! Innisfil, Ontario in Canada is now accepting property tax payments in Bitcoin:

https://www.youtube.com/watch?v=-YdQ2LOuduI&feature=youtu.be

this is a small step, because big step would be if they legalized bitcoin, they get in the uncertainty about whether they legalize or not legalize bitcoin and that does not help. Even with this news, even if they said that Canada's Z store and Canada's Y shop are accepting bitcoin as a means of payment, it would still be a small step for mass adoption. What we need most is that governments legalize bitcoin so that all people can use it without fear of ever waking up and hearing that the government is banning bitcoin because it is illegal in their country

Steamtyme

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This is the original thread covering this town accepting Bitcoin. Canada approved paying bitcoin with Bitcoin for Innisfil town

I'll clarify a few points like I did there. They are only a municipality that is accepting Bitcoin. Municipalities pretty much operate like a Corporate entity, and can set up their own by-laws and taxation schemes. These are independent of Provincial and Federal Laws, but must still comply with them.

So this really has no bearing on how the rest of Canada will adopt Bitcoin, other than some other towns or smaller cities might choose to follow suite. To clarify the Canadian Governement (Federal) has no plans to accept cryptocurrencies as payment in any way. They actively try and quash this rumor as it is used to scam Canadians every year.

Personally I think it's a PR stunt to help raise their profile. There will be a small number of individuals who will take part in this. Not to mention they will very likely cash out the majority of the received BTC immediately, because... you know... cost of running a city. They are located about an hour from Toronto, considered to be 95% of Canada by some, the center of the universe by others. Thisd could play into attracting new and vibrant people to their community for second homes, or a place close enough to Toronto.

Topic: A city in Canada is letting people pay taxes in Bitcoin - page 3. (Read 851 times)