I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this?
Am not read it but its a great one because of that now some countries accepting bitcoin as a currency. Now i think Australia is the third country that accepting bitcoin. Hope also in our country to adopt bitcoin as a currency. 
Topic: Bitcoin treated as money in Australia from 1. july - page 5. (Read 6146 times)
Hopefully before July 1st, we would be seeing some decisions about the SegWit - BU clash. The way the system works right now is kinda absurd, knowing that the number of unconfirmed transactions RIGHT NOW is 78000+ and growing. By then, how could the network possibly handle a volume of probably million transactions every day? It's kinda sadenning that every time something good happens in adoption, a far greater problem is present in the protocol itself.
I dont think we matter. So theres nothing we can say that will change things. You can sell all your BTC and it wont matter because most of us dont run nodes, dont mine and dont develop code improvements for the protocol. We are here holding BTC and hoping to make a lot of money out of it.
Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process.
Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies.
Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies.
They can now tax people who are getting income from Bitcoin transactions in a form of income. I am sure that people in those nations mentioned are required to declare all the income they got the previous year and that can definitely include Bitcoin when bought and sold. Japan, South Korea and this time Australia would benefit most with this development. And, of course, we can see spikes on Bitcoin value soon as we already experienced it now because of Japan.
This is wonderful news. Along with Japan, Australia seems to be taking the lead in recognizing the potential of Bitcoin.
Other countries, who have adopted a wait and watch approach, could learn from Australia.
Other countries, who have adopted a wait and watch approach, could learn from Australia.
yes if im not mistaken , japan first introduces bitcoin as one of the accepted currency in their country, im just suprise that the eastern countries started to accept bitcoin as one of the accepted currency, hoping that many countries will follow so that we are free to use it without problems when we need to buy our goods, but i hope that government will not put a high tax on our transactions.
Those countries have done and create a better support for bitcoin environment to enhances business relate to cryptocurrency which is very helpful for us. Treated bitcoin as a currency maybe still not suitable for merchants demands where they have to wait for a long time to get a confirmed transaction. If bitcoin cannot scalable, then it's destiny to become as a store of value.
This will benefit all bitcoin users. Many people meet this news with suspicion. 
Does this new law apply just to bitcoin, or to all digital and cryptocurrencies?
Those countries have done and create a better support for bitcoin environment to enhances business relate to cryptocurrency which is very helpful for us. Treated bitcoin as a currency maybe still not suitable for merchants demands where they have to wait for a long time to get a confirmed transaction. If bitcoin cannot scalable, then it's destiny to become as a store of value.
Hopefully before July 1st, we would be seeing some decisions about the SegWit - BU clash. The way the system works right now is kinda absurd, knowing that the number of unconfirmed transactions RIGHT NOW is 78000+ and growing. By then, how could the network possibly handle a volume of probably million transactions every day? It's kinda sadenning that every time something good happens in adoption, a far greater problem is present in the protocol itself.
They know about the SW/BU debate hopefully? how can this current network capable of processing 5 transactions at max per second handles millions of transactions every day?
Is there any cryptography experts from any of the two mentioned countries to evaluate review and provide some serious technical ups and downs of SW/BU?
I think even if the entire planet+martians and other aliens come and start using Bitcoin we'll still see the current drama over who should be the boss.
Assuming legit TX count increases along with fees but do the miners know that people will not pay higher fees than paypal and other processors?
It seems to me that all this still just talk does not have some things worthy of proof, so that it would be possible to judge that Bitcoin will rise in some countries to a sufficiently high altitude. Is there any cryptography experts from any of the two mentioned countries to evaluate review and provide some serious technical ups and downs of SW/BU?
I think even if the entire planet+martians and other aliens come and start using Bitcoin we'll still see the current drama over who should be the boss.
Assuming legit TX count increases along with fees but do the miners know that people will not pay higher fees than paypal and other processors?
They know about the SW/BU debate hopefully? how can this current network capable of processing 5 transactions at max per second handles millions of transactions every day?
Is there any cryptography experts from any of the two mentioned countries to evaluate review and provide some serious technical ups and downs of SW/BU?
I think even if the entire planet+martians and other aliens come and start using Bitcoin we'll still see the current drama over who should be the boss.
Assuming legit TX count increases along with fees but do the miners know that people will not pay higher fees than paypal and other processors?
Is there any cryptography experts from any of the two mentioned countries to evaluate review and provide some serious technical ups and downs of SW/BU?
I think even if the entire planet+martians and other aliens come and start using Bitcoin we'll still see the current drama over who should be the boss.
Assuming legit TX count increases along with fees but do the miners know that people will not pay higher fees than paypal and other processors?
Not only will bitcoin be treated as money in Australia
the double tax system which was imposed on the traders for goods and services will also be scrapped off! These are among other factors contributing to bitcoins growth great move Australia
.
the double tax system which was imposed on the traders for goods and services will also be scrapped off! These are among other factors contributing to bitcoins growth great move Australia
. The scrapping off of bitcoin tax will have a great impact in the development of bitcoin in Australia. We have seen how Bitcoin grow in Japan when the government declared that bitcoin is money followed by removing the consumption tax of Bitcoin, this hyped the market and boost the volume of Bitcoin trading in Japan. Definitely, the same result will happen to Australia.
I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this?
This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.Taxas is estimated to have more inhabitants than Australia. How many of those 24 million of Australian citizens will be interested in BTC? 1/10 1/20? Probably less.
What I am counting on here is the fact that increasing acceptability of cryptographic money will cause chain reaction and other nations will follow.
What you said is correct population dont count but acceptance by a country and how efficiently it is going to workout will be counting it as it will be setting up the example by successfully implementing it and running it. So that other country will also follow their foot steps and start to accept bitcoin as payment and declare it as currency in their respecting country also.
I've also read the same article and it is a great way to say that the world of bitcoin is slowly being recognized to some countries. Hopefully more countries would soon follow.
After Craig Wright's confirmation about bitcoin. Australia Government has been so eager to adopt bitcoin in their country and bill also has passed there.
South Korea also planning the bitcoin as legal there. I think US may fear about it.
Hopefully more countries would soon follow.
More will follow. Countries just look and wait for other countries to set the first step. It will allow them to properly analyze/observe everything and see how the others are doing after a while. If they see no harm in walking the same path, one country after the other will do the same -- it has already started. Major point of importance is that the average joe will slowly forget about all negativity, and exactly that will contribute towards them slowly but surely adopting Bitcoin. I hope it will no longer be seen as the currency of the underworld.
This is great news however it doesn't mean as some people think that merchants will necessarily accept it. This will only happen if there is demand from the public for them to accept it. And I fear this will be hampered by the scaling issues currently affecting bitcoin.
demand will increase if the coin is accepted as a currency like they are going to do in australia, because people will feel more secure to purchase something that is seen well by their government, after that merchants in australia will naturally accept bitcoin, and the adoption will grow, i think it's all about regulation, the regulation is the most important thing for a country to have better adoption
I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this?
This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.Taxas is estimated to have more inhabitants than Australia. How many of those 24 million of Australian citizens will be interested in BTC? 1/10 1/20? Probably less.
What I am counting on here is the fact that increasing acceptability of cryptographic money will cause chain reaction and other nations will follow.
I've also read the same article and it is a great way to say that the world of bitcoin is slowly being recognized to some countries. Hopefully more countries would soon follow.
Does it mean Satoshi was from both Japan and Australia at the same time? lol it's confusing or maybe they're competing to prove that Satoshi was from their country?
This however doesn't change anything from the root, of course if they start mining and have a vote in consensus and can actually effect the future of code in a good way that's something.
This is a strange way to analyze things,what does the legalization of bitcoin has to do with the origins of the creator This however doesn't change anything from the root, of course if they start mining and have a vote in consensus and can actually effect the future of code in a good way that's something.
The time interval Satoshi was online is mainly UK and Australian time zones and other than the Japanese name he does not have any ties with Japan nor does he know the language and one more thing is that they does not need to start mining to legalize bitcoin. 
I heard this news on the cryptoverse earlier today. Great news for our fellow bitcoin enthousiasts in australia. Let's hope other countries start adopting this trend aswell!
Storing satoshi for the upcoming Australia bitcoin adoption! I have read it from http://www.reddit.com/r/bitcoin yesterday. This is another opportunity for we the traders to make money and by this two great events I expect bitcoin to reach $2,500. I saw a guy claiming that this would mean Australia does not tax bitcoin, and I think this is not the case at all, so study how taxes work because taxes still apply.
I guess this means that in Australia you don't have to pay nothing but capital gains if you cash out in AUS (as it should be, because having to keep track of every single crypto trade you do is an act of insanity)
I guess this means that in Australia you don't have to pay nothing but capital gains if you cash out in AUS (as it should be, because having to keep track of every single crypto trade you do is an act of insanity)
No taxes for BTC? Thats impossible. What government would be so stupid to encourage their citizens to use a competing currency by not taxing it when its used? The guy who said it is probably not that intelligent.
Jump to: