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Topic: Bitcoin declared a commodity, are ETH and other currencies to follow? - page 2. (Read 291 times)

full member
Activity: 644
Merit: 100
https://m.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552

What do you think? is this the early stages of acceptance towards cryptocurrencies?

It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.

IMHO this neutral news. BTC price must depends on mass adoption, not from fat cats in suits. A lot of people trading on usual markets already sending money in BTC to China. If many sellers will be accepting BTC it will be great. All this regulation is bad in my opinion. I already can't accept crypto in open way for my hobby(leathercrafts) in my country. Because there are a lot of conversations about taxation, about all this can be illegal and many others. For me was great when government forgets about crypto.
hero member
Activity: 1470
Merit: 655
altcoins never follow bitcoin because they are not even the same thing even though they may be all categorized as cryptocurrencies. bitcoin has a well established market while altcoins are still struggling with their pump and dumpers who are controlling most of the market and the price with it.

besides bitcoin has been considered as a commodity for almost 6 years now by IRS. now it is CFTC that is calling it a commodity and in reality bitcoin is a currency and more countries in the world (apart from US apparently) are calling it a currency!
legendary
Activity: 3374
Merit: 2198
I stand with Ukraine.
https://m.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552

What do you think? is this the early stages of acceptance towards cryptocurrencies?

It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.
But this is also good news, it means the recognition of bitcoin. So if we could use it with easy taxation, it would be much easier and better, but still step.

I agree. This is a good news imo. Any recognition is better than none. Besides, we can expect that the SEC will not be rejecting Bitcoin ETFs with previous persistence.

Quote
In theory, as a commodity, from a regulatory perspective, bitcoin could be treated like gold or oil, and have ETFs built around it much like the physical commodity SPDR Gold Trust (GLD) or the futures-based commodity ETF, the U.S. Oil Fund (USO).

As for other altcoins, I'd say it'll take some time, a year or maybe more, before they turn their attention to any of them. One can say, they are really slow in making decisions, if the recognition of Bitcoin has taken so long.
sr. member
Activity: 1092
Merit: 250
it is clear that we are waiting for that there is no ETF for this year, this means that there is very little possibility and our hope that crypto will go up as we imagined for the end of this year, and hopefully there is little hope for that
copper member
Activity: 182
Merit: 2
https://m.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552

What do you think? is this the early stages of acceptance towards cryptocurrencies?

It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.

There's also the positive side to it. As it's gotten some level of recognition that we need. Remember that it would be hard for Bitcoin to be regarded as a currency as it would compete with the various national currencies of different countries, and this is what their exact fight with Bitcoin and crypto in general. Now that's it's even valued as a commodity, that's something you know..baby steps. Soon they'll realize it's got more than that.
full member
Activity: 490
Merit: 103
https://m.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552

What do you think? is this the early stages of acceptance towards cryptocurrencies?

It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.

I see your point, for sure, but do you not also agree that the very classification of bitcoin as anything other than a "fad" will serve all of us better in the long run?
Well, that's what I was writing about. Once bitcoin is perceived as something legal, it is already a great step in the real world for him. Right before all the major financial players wrote that this is a bubble, what is a pyramid, this method of fraud. Moreover, bitcoin was used to pay for goods and services that are usually prohibited by law. Therefore, it could simply be banned, say that it is an illegal product or tool for payment for goods.
newbie
Activity: 19
Merit: 0
https://m.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552

What do you think? is this the early stages of acceptance towards cryptocurrencies?

It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.

I see your point, for sure, but do you not also agree that the very classification of bitcoin as anything other than a "fad" will serve all of us better in the long run?
full member
Activity: 490
Merit: 103
https://m.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552

What do you think? is this the early stages of acceptance towards cryptocurrencies?

It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.
But this is also good news, it means the recognition of bitcoin. So if we could use it with easy taxation, it would be much easier and better, but still step.
member
Activity: 322
Merit: 20
https://m.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552

What do you think? is this the early stages of acceptance towards cryptocurrencies?

It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.
newbie
Activity: 19
Merit: 0
https://m.nasdaq.com/article/bitcoin-ruled-commodity-palladium-etf-shines-cm1030552

What do you think? is this the early stages of acceptance towards cryptocurrencies?
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