Topic: Andreas Antonopoulos on bitcoin tax (Read 939 times)
I think all governments are understanding no matter how hard the banks lobby them to create the total destruction of such currencies, cryptocoins in general are here to stay. New York is taking huge steps in order to try and get it out of their state. Not doubtful since all the wallstreet richies and banker boys have companies sitting right there. The ones controlling the finances of the people as well as controlling the people themselves do not like those people having the ability to be free from their grasp. Laws will surely be put in place but I think in the end crypto will eventually win the war. Let them throw their little stones we can block them with our firewalls HAHAHAHA
Different gov or individuals take different attitude to bitcoin basing on the level of their recognition of new technology, just like the internet on 1990s. Never mind! Over times, the benefit of bitcoin will be showing up. They cant resist the trend.
Quote
Earlier this year the Australian Tax Office released its guidance on bitcoin, announcing that it did not consider the digital currency to be money, or a foreign currency. The decision means the Goods and Service Tax (GST) applies twice to some bitcoin transactions – firstly on the goods and services being supplied and secondly on the ‘supply’ of bitcoins as payments.
“It’s as monumentally stupid as it would have been in 1994 to classify the internet as a fax machine service, and put it under the control of telecom companies,” Antonopoulos said at a Bitcoin Melbourne meetup on Monday.
“Or to classify it as a CB radio, a fancy CB radio and ask every user of the internet to pass a Morse code exam and have an operator’s licence.
“Those things didn’t happen at the time because regulators took a wait and see approach and decided to let the technology itself flourish for a while before trying to apply regulations.
“By doing regulation in that way, Australia’s not making bitcoin slow down, what they’re doing is making bitcoin move out.”
“It’s as monumentally stupid as it would have been in 1994 to classify the internet as a fax machine service, and put it under the control of telecom companies,” Antonopoulos said at a Bitcoin Melbourne meetup on Monday.
“Or to classify it as a CB radio, a fancy CB radio and ask every user of the internet to pass a Morse code exam and have an operator’s licence.
“Those things didn’t happen at the time because regulators took a wait and see approach and decided to let the technology itself flourish for a while before trying to apply regulations.
“By doing regulation in that way, Australia’s not making bitcoin slow down, what they’re doing is making bitcoin move out.”
http://www.startupsmart.com.au/financing-a-business/gst-on-bitcoin-would-be-monumentally-stupid-says-digital-currency-expert/2014112413685.html
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