Topic: Canada approved paying bitcoin with Bitcoin for Innisfil town - page 2. (Read 704 times)
Once the entire world get to know and understand that they can't stop people from using Bitcoin, they will have no choice but to accept the use of it. I usually get excited when I see such news regarding the acceptance of Bitcoin as an alternative form for the payment of goods and services. Its great that Canada has seen the relevance of using Bitcoin in their financial economy.
This is another step for bitcoin to become more popular, accepting bitcoin for paying tax is a good sign that bitcoin will dominate the future because of it's usage.
If other countries will follow by using bitcoin in any form of payment then there is a very high chance that bitcoin will be legalize and will be accepted in all countries. This is what I've been waiting, once all the government will use bitcoin in the future then sending money, paying bills, shopping and etc will become more easy.
If other countries will follow by using bitcoin in any form of payment then there is a very high chance that bitcoin will be legalize and will be accepted in all countries. This is what I've been waiting, once all the government will use bitcoin in the future then sending money, paying bills, shopping and etc will become more easy.
Just now noticed from investinblockchain that Canada accepting bitcoin for paying Tax. This is one of most important positive news in my opinions. Accept paying tax with bitcoin means, bitcoin is fully supported by central government. I believe more country will encourage when most of rich country will start accept bitcoin officially. Tax payer can pay tax by using Coinberry app, and it will convert bitcoin to Canadian currency.
Great news this the most awaited of every nation or country to get taxes from crypto currency, this ideas of canada best pattern guide of each country how to collect taxes.
One of the biggest strengths of national currencies is that you have to pay tax with them. You have no choice but to acquire your national fiat come tax season. But now in Canada, the news is big. You can pay taxes with Bitcoin. That is a big development.
Some recent news I'm seeing off late shows Canada is trying a large scale crypto/Bitcoin acceptance behaviours. This is something great to hear as a crypto enthusiast. It shows even though some nations are against us, we have tons of powerful nations ready to help make the space better for all.
This is the best news i have heard this month. Canada has done welll and i know for sure neighbouring countries will see this and will be moved to do same. The bitcoin community desires nothing more than seeing bitcoin being adopted for use in all parts of the world.
Those are such good news. Im very happy for them as overall community member.
That makes me feel more positive where more countries will probabily adopt the same principle of the taxing. Making it so that the Bitcoin price rises once more since more investors will take their chances to join this great crypto world.
That makes me feel more positive where more countries will probabily adopt the same principle of the taxing. Making it so that the Bitcoin price rises once more since more investors will take their chances to join this great crypto world.
There is no news that gladdens my heart other than seeing or hearing a particulat country adopts and approves bitcoin for transactions. It goes to show bitcoin growth is on the increase and in no time we will see it spread across the globe. This is definitely a welcomed development from Canada and the bitcoin community is happy.
I, as a bitcoin user, was very happy to hear this news even though this news was outside my country. Today more and more countries are providing great opportunities for bitcoins to be accepted as exchanges and transactions.
Positive news, hopefully other countries will follow like Canada that receives tax payments with bitcoin. It is indeed feasible that Bitcoin must be accepted as a legitimate transaction tool, only a few countries reject Bitcoin.
Its good, this is another big step, with more and more permit from governments we are more and more towards the mass adoption, but I am curious about the regulation that the government going to implemented, and hopefully there is no bad incident like scamming, or exchanges running away with the investors money, so the government could focus and make the regulation that can profit both sides
It is a pitty that they are not accepting Bitcoin directly, but rather opted to use a payment processor type service to convert all coins received to fiat currencies. 
I figure Andreas's discussion with the Canadian senate a few years ago, has opened up a few doors for Bitcoin in that country now.
Canada has not been hostile towards Crypto currencies and they are showing some good promise to be one of the pioneers in the Crypto currency industry. 
I figure Andreas's discussion with the Canadian senate a few years ago, has opened up a few doors for Bitcoin in that country now.
Canada has not been hostile towards Crypto currencies and they are showing some good promise to be one of the pioneers in the Crypto currency industry.
In the past two months, I have seen so much positive news in various media that are milling about related to cryptocurrencies, bitcoin especially. Because the value of bitcoin is very dependent on the user and its usefulness both in the economy and consumption, this news will certainly always get a positive response from the wider community.
For the development of cryptocurrencies in the future, perhaps there will be many banks that are to receive various innovations that can provide benefits such as bitcoin which can be applied internationally, innovatively and can help solve international problems. If this can happen, I think the growth of mass adoption it seems will not be inevitable.
For the development of cryptocurrencies in the future, perhaps there will be many banks that are to receive various innovations that can provide benefits such as bitcoin which can be applied internationally, innovatively and can help solve international problems. If this can happen, I think the growth of mass adoption it seems will not be inevitable.
This is a great news. I see see more Canadian States adopting this method as well. I know it very soon we will get more and more news on bitcoin adoptions across different parts of the world. I really cant wait to make an all bitcoin payed trip from Peru to USA or other parts of the world. 
Just now noticed from investinblockchain that Canada accepting bitcoin for paying Tax. This is one of most important positive news in my opinions. Accept paying tax with bitcoin means, bitcoin is fully supported by central government. I believe more country will encourage when most of rich country will start accept bitcoin officially. Tax payer can pay tax by using Coinberry app, and it will convert bitcoin to Canadian currency.
It seems that the mayor, staff and council of innisfil is enough forward thinking, innovative and brave. This will give good effect for cryptocurrency economy, canadian citizens and cryptocurrency industry are get significant win. Even a canadian town permits its citizens to pay their personal taxes in bitcoin, I think other countries have to do this as well. Pay tax using bitcoin is very profitable when save small amount of bitcoin then next year the price increase then maybe small amount of Bitcoin that we save in the past is enough to pay our personal taxes. 
the most important news is always when we see actual adoption or we see anything that helps that actual adoption. for example this would have been great if the Canadian government has accepted bitcoin as a legal way of payment (as a currency) instead of just allowing it to be used to pay taxes in a small town.
i remember there was some "talk" of the same category in US which has not yet happened.
by the way your title is weird since it says "pay 'bitcoin' with bitcoin"
i remember there was some "talk" of the same category in US which has not yet happened.
by the way your title is weird since it says "pay 'bitcoin' with bitcoin"
Pretty impressive for the government of Canada manage to adopt bitcoin as a way to pay taxes. Looks like bitcoin is getting a positive response from one of the 1st world country. I hope this is the start of bitcoin getting major adoption this year.
the good thing done by the country of Canada might be an example of another country, maybe if all countries want to emulate Canada to adopt bitcoin for all purchases and sales then in the near future Bitcoin will become the single currency in the world. good things are happening in the world of commerce.
I live close-by and I just saw this on the news today.
The town is actually very tech forward, so I'm happy to see this go through. They've been famously known for being one of the first small towns to implement Uber as a transit system, and I've spoken to many people from the town (including municipal government employees) and they believe it's one of the best things the town has done.
The town is actually very tech forward, so I'm happy to see this go through. They've been famously known for being one of the first small towns to implement Uber as a transit system, and I've spoken to many people from the town (including municipal government employees) and they believe it's one of the best things the town has done.
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This is one of most important positive news in my opinions. Accept paying tax with bitcoin means, bitcoin is fully supported by central government. I believe more country will encourage when most of rich country will start accept bitcoin officially.
The government isn't accepting bitcoin as a means of settling tax payments.
I think that the main takeaway from the article is that, a third party middleman is used in order to convert the BTC into CAD first, before the government collects the tax payments. It's not as if the government has the payment infrastructure set up in bitcoin and ready to go, at least not at this stage.
In this case, there is zero exchange rate risks for the government receiving the payment, and it's almost the same from their perspective compared to traditional means of payment through fiat. It's most likely just hyped up news that in reality, won't really make any difference.
But still in the end there will always be a middleman before cryptocurrency as a whole is 100% accepted as a form of payment to even the governments of the world let alone canada.
Yup you're correct they are using third-party applications to convert Bitcoin payments into fiat just like in my country where you can pay your utility bill using Bitcoin, Ethereum, Ripple, and Bitcoin Cash with a third-party app that converts Bitcoin into our native currency to pay bills, I guess if the government will accept Bitcoin directly there will have a problem because of the volatility of this asset and it is necessary for them to let other companies create a trading application that converts Bitcoin to fiat to pay for government bills.
It looks like it is still impossible for now that governments will accept directly a volatile payment method that fluctuates.
It looks like it is still impossible for now that governments will accept directly a volatile payment method that fluctuates.
Then there is nothing new with the news. It is just another companies trying to give a little benefits to crypto users. I think it is really possible because if not why there are still companies who actually hold coins and the government can't?
The simple answer still would be it is because they don't fully understood how it works and they are not taking risks. How could you possibly create a law that is beneficial to the government if they don't understand it in the first place
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