Topic: Bitcoin is now legal tender in Germany!!! (Read 2190 times)
Legal tender obviously doesn't mean what you think it means. Bitcoin is not legal tender is Germany or anywhere in the world. The ruling is still good news but it doesn't make it legal tender.
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation.
Bitcoin is not legal tender in Germany or anywhere in the world. That isn't necessarily a bad thing but it reality. Nobody is obligated to accept Bitcoins.
Legal tender obviously doesn't mean what you think it means. Bitcoin is not legal tender is Germany or anywhere in the world. The ruling is still good news but it doesn't make it legal tender.
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation.
This simply means that Germany is ready to tax your bitcoins. I think you can expect the same treatment from other countries.
Again, this is true, however, I believe the same happens in the UK if you withdraw more then a certain amount! You can't just suddenly withdraw hundreds of thousands from mtgox for example and direct transfer to your bank without serious questioning and or heavy taxes.
I really appreciate the your insight however!
True, but you also can't help to see some government ploy "to get in on this Bitcoin scheme and scoop some money"; while at the same time they are skeptical of it becoming a valid means of pay...
This simply means that Germany is ready to tax your bitcoins. I think you can expect the same treatment from other countries.
Again, this is true, however, I believe the same happens in the UK if you withdraw more then a certain amount! You can't just suddenly withdraw hundreds of thousands from mtgox for example and direct transfer to your bank without serious questioning and or heavy taxes.
I really appreciate the your insight however!
This simply means that Germany is ready to tax your bitcoins. I think you can expect the same treatment from other countries.
Again this is August news
You are correct, however, I'd like to know how you think this with effect the prices etc.
Again this is August news
Legal tender obviously doesn't mean what you think it means. Bitcoin is not legal tender is Germany or anywhere in the world. The ruling is still good news but it doesn't make it legal tender.
Exciting times ahead for bitcoin by the looks of things! Personally I think it's great news for potential new investors that are still scared teetering on the fence. The clear downside of the situation is the fact they will almost definitely tax Bitcoin related endeavours.
What does everyone think of this?
How do you think this will effect the price of BTC?
How long do you think it will be until other countries follow their lead?
Source - http://rt.com/news/bitcoin-germany-recognize-currency-641/
What does everyone think of this?
How do you think this will effect the price of BTC?
How long do you think it will be until other countries follow their lead?
Source - http://rt.com/news/bitcoin-germany-recognize-currency-641/
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