South Korea and Australia, they are bitcoin pro

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Quote from: LogitechMouse on August 18, 2020, 08:20:13 PM

Most of the countries right now are either pro-bitcoin or its just they aren't doing anything related to it like some regulations and the like.
South Korea and Australia are just ones who are doing moves to adopt crypto in their country. S. Korea is very open to new technology that is why they are at the top when it comes to this aspect.

I just wish that this will happen to in some countries in the future where most of the establishments will accept crypto as another payment system.

I am not very sure about South Korea, because a couple of years back I have seen threads here complaining that the government has forced many of the crypto-exchanges there to close. The users were facing a lot of issues related to KYC and taxation. I am not sure whether the situation has changed or not, but back then Japan was having much more crypto-friendly laws when compared to Korea.

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It feels like they are only concerned with the applicability of blockchain and their development. Not only China, Australia, Japan but other countries are also silently developing their own blockchain. China has been testing its currency and will soon launch a national crypto. They also have a lot of blockchain companies in the country. I think they will. It is certain that when their country's blockchain launches, they will change the economy of their country rapidly.

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Most of the countries right now are either pro-bitcoin or its just they aren't doing anything related to it like some regulations and the like.
South Korea and Australia are just ones who are doing moves to adopt crypto in their country. S. Korea is very open to new technology that is why they are at the top when it comes to this aspect.

I just wish that this will happen to in some countries in the future where most of the establishments will accept crypto as another payment system.

joinfree

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That's true, ever since I got into this space I have come across several Korean projects and Australian projects. People from these countries take initiatives and understand the potential of blockchain technology and how it can impact this world. Too bad most countries in Africa don't recognize this.

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Quote from: plvbob0070 on August 18, 2020, 08:55:13 AM

There are really countries that are leading when it comes to crypto adoption and I think if it shows a good response to the people in these countries, others will follow. And we have already heard various news for crypto in South Korea and it's really great. One of their advantages is the country is already technologically advanced that's why we can see more adoption.

South Korean has one of the best approach in the cryptocurrency, they already got a regulation for cryptocurrencies and cryptocurrency exchanges. More than third of their workers are investors mostly in bitcoin and ethereum. And as far as I know the capital city of South Korea has already its own coin called 'S-coin-' introducing cryptocurrencies to koreans which can be use throughout the cities of South Korea. As technology is concern, I never doubted Korea to be this far especially the South Korea, I see how welcoming they are in technology field apart from cosmetic products. The only thing that I'm not glad of is the tax imposed to crypto traders, it is on 20% that's quite high for every trader, less profitable I think.

Quote from: plvbob0070 on August 18, 2020, 08:55:13 AM

It's really nice to see other countries being positive towards crypto because it's a step to achieve mass adoption. I just hope that after some years, more countries will also follow Korea and Australia.

It is really overwhelming seeing countries adopting cryptocurrencies, even making their own coin for a centralized one but there are countries who is prohibiting the use of it which might give a slight effect on the market.

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Quote from: Viscore on August 18, 2020, 09:43:59 AM

Quote from: plvbob0070 on August 18, 2020, 08:55:13 AM

There are really countries that are leading when it comes to crypto adoption and I think if it shows a good response to the people in these countries, others will follow. And we have already heard various news for crypto in South Korea and it's really great. One of their advantages is the country is already technologically advanced that's why we can see more adoption.

It's really nice to see other countries being positive towards crypto because it's a step to achieve mass adoption. I just hope that after some years, more countries will also follow Korea and Australia.

It is because they know how could this technology gives them a satisfying result out from negativity they've heard. Those leaders have good insights and they don't want to be left behind while the others are already adopting it.

Soth Korea and Australia's leaders have further to see what could be happening in the future and how Bitcoin being potential. Not only it gains trust but people see this as a big opportunity for them to make money despite the big challenge aside from being used as a payment option.

I think that mass adoption would be possible if leaders who are bold enough to make such movement, following their visions, would encourage their supporters to do so. In this time, where people are somehow reliant with the opinion and beliefs of their idols, they can be influenced through endorsements. Bitcoin has so much to offer to our future and I hope people would start to realize this soon.

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Quote from: plvbob0070 on August 18, 2020, 08:55:13 AM

There are really countries that are leading when it comes to crypto adoption and I think if it shows a good response to the people in these countries, others will follow. And we have already heard various news for crypto in South Korea and it's really great. One of their advantages is the country is already technologically advanced that's why we can see more adoption.

It's really nice to see other countries being positive towards crypto because it's a step to achieve mass adoption. I just hope that after some years, more countries will also follow Korea and Australia.

It is because they know how could this technology gives them a satisfying result out from negativity they've heard. Those leaders have good insights and they don't want to be left behind while the others are already adopting it.

Soth Korea and Australia's leaders have further to see what could be happening in the future and how Bitcoin being potential. Not only it gains trust but people see this as a big opportunity for them to make money despite the big challenge aside from being used as a payment option.

plvbob0070

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There are really countries that are leading when it comes to crypto adoption and I think if it shows a good response to the people in these countries, others will follow. And we have already heard various news for crypto in South Korea and it's really great. One of their advantages is the country is already technologically advanced that's why we can see more adoption.

It's really nice to see other countries being positive towards crypto because it's a step to achieve mass adoption. I just hope that after some years, more countries will also follow Korea and Australia.

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The action of these two countries will likely to influence the early adoption of crypto currencies and the fiat will be replace in the following years if the this will
continue. I love how South Korea and Australia very open to crypto currencies future as they will serve as bridge for cashless society in the future.

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What's crazy is this stat:

Quote

As an example, one out of every three South Koreans either owns cryptocurrencies or gets paid in it, while only one South Korean out of ten trades.

That's quite impressive! They must not have a very interesting stock market?

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Quote from: rodskee on August 16, 2020, 09:27:22 AM

Quote from: tabas on August 16, 2020, 05:55:12 AM

Quote from: malekbaba on August 15, 2020, 01:49:09 PM

In Busan, visitor can pay service charges with byc/eth.

You mistyped BTC into BYC.
News about Australia accepting payments in bitcoin like its airport on Brisbane has been one of the biggest news ever as the first-ever, two years ago.
Australian airport becomes the first to accept Bitcoin

And regarding to South Korea they are really crypto friendly country, they also started accepting ETH
for every people who visit their beaches is some places.
The news regarding to this two countries will attract more people who are not that much familiar
about crypto not just bitcoin but the entire market itself.
Giving positive news like this will attract more readers and more interest out from people who are trying
to navigate in exploring crypto industries.

I've heard of that news. Each country that's aware of crypto's existing are doing whatever they can to adopt the technology and the new payment system because it's reliable and accountable, a very good for alternative payments. While the other countries that still don't like it, they're missing the game and a lot of opportunities to be given for their people. These countries will thrive together with the other crypto friendly countries that we have.

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Quote from: Debonaire217 on August 17, 2020, 05:29:31 AM

Quote from: mezzaluna on August 17, 2020, 02:34:14 AM

Its really good to see some countries adjust their mode of payments because of the fact that they are using the capabilities of the advancement of their technologies. Even though we see some countries adjust, it is nice knowing that their people are willing to adjust because it is for the greater good. It also lessens the capability of being snagged by a thief since you can have no cash available on you. The use of Blockchain Technology will be beneficial if put into good use.

Perhaps, these countries has the most adaptive people especially with ages lower than 50 that could easily absorb knowledge about cryptocurrency. In countries especially those that belongs to third world country, even smartphone and computers aren't that mainstream. So there will be huge gap that needs to fix first before they could even start knowing what bitcoin is.

going back, we can see that S korea and Australia is quite leading in bitcoin based on the OP, with this ranking of top 10 countries for technological expertise, South Korea ranks the third, will technological expertise be a factor for a country to adopt to cryptocurrency?

not only for ages lower than 50 but to also for the people that are 50 and above because you said this country is advanced in terms of knowledge and technology ? being smart doesnt start with young teens but they started with thier parents that act as a first teacher to them . computers and smartphones are getting cheap to all countries , there was a statistics that 3rd wold countries have a higher rate of smartphone users and social media users , these country can also compete in the use of crypto

AbuBhakar

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South Korea and Australia are rich in innovative gadgets and there is no limit to the good things to enhance and speed up all their actions especially in the business fields because I see their development, obviously, they are really much more advanced with all materialistic things that's why they are also professional about the processing of Bitcoin.

They are open for technogy operated advancement that can ease the people's transaction. South Korea been adopting cryptocurrency and says to be legal to be able to put some taxes in transactions as well in the companies with applications related to crypto that they put tax but with rules also unlike in Australia that there is no certain news in tax mentioned, lucky Australian crypto users.

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I heard that South Korea has too high fees on crypto.

Not just in Korea there is a high tax as well in Austria when cryptocurrencies are treated as investment assets in case the taxpayer uses them to generate interest income. In this case, capital gains from a subsequent sale are taxed at 27.5% for individuals (taxation at lower progressive income tax rates optional) or at 25% for corporations. But there arestill exemption in their rules especially if it didn't reach a certain amount to be taxed. (https://www.globallegalinsights.com/practice-areas/blockchain-laws-and-regulations/Austria)

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Quote from: mezzaluna on August 17, 2020, 02:34:14 AM

Its really good to see some countries adjust their mode of payments because of the fact that they are using the capabilities of the advancement of their technologies. Even though we see some countries adjust, it is nice knowing that their people are willing to adjust because it is for the greater good. It also lessens the capability of being snagged by a thief since you can have no cash available on you. The use of Blockchain Technology will be beneficial if put into good use.

Perhaps, these countries has the most adaptive people especially with ages lower than 50 that could easily absorb knowledge about cryptocurrency. In countries especially those that belongs to third world country, even smartphone and computers aren't that mainstream. So there will be huge gap that needs to fix first before they could even start knowing what bitcoin is.

going back, we can see that S korea and Australia is quite leading in bitcoin based on the OP, with this ranking of top 10 countries for technological expertise, South Korea ranks the third, will technological expertise be a factor for a country to adopt to cryptocurrency?

maxreish

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I heard that South Korea has too high fees on crypto.

Too huge to charge 20% tax in crypto trading income but with considerations because it was tax per year depends on how much income.

Quote from: https://news.bitcoin.com/south-korea-to-charge-20-tax-on-bitcoin-profits-under-new-law/

the Ministry of Economy and Finance said income from digital assets below 2.5 million won per year (around $2,000) will not be taxed.

Since crypto trading is consider as other job, it is still a job that has been subjected to add tax.

With this, even Australia are bitcoin friendly until now. Looks like more countries wanted to be part of this evolving technology.

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Its really good to see some countries adjust their mode of payments because of the fact that they are using the capabilities of the advancement of their technologies. Even though we see some countries adjust, it is nice knowing that their people are willing to adjust because it is for the greater good. It also lessens the capability of being snagged by a thief since you can have no cash available on you. The use of Blockchain Technology will be beneficial if put into good use.

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Quote from: cabron on August 16, 2020, 09:46:35 AM

It will not take long to see more countries will also adopt BTC and ETH for it really can thrive even in this covid crisis. A developed countries like South Korea and Australia can easily adopt cryptocurrency, it must be easy for other countries as well. All other countries I think will have no option but to also adopt because we all need secure transactions.

No longer far from realities as bitcoin and blockchain system are already
gaining interest from more countries around the world, for now we are
seeing news from this two places.

Allowing more readers to learned about this new technology, eventually
we will see more countries will participate to this innovated technology.

Soon every places from the world will learn how to use and take advantage
of this industry both for investment and for the actual usages of this chain.

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Quote from: fiulpro on August 16, 2020, 10:00:10 AM

Here is the list of countries that I found online where Bitcoins and other cryptocurrencies are highly valued:
Malta
Bermuda
Switzerland
Japan
Gibraltar
Slovenia
Singapore
Estonia
Georgia
Belarus
Hong Kong (it's system is separate from China , thus can be classified differently)
Germany

https://99bitcoins.com/bitcoin-friendly-countries/

Honestly these are the countries which have already won the race of being years ahead of other countries.

Germany? you might get mixed up with Austria, there you have BitPanda or the Austrian Post got ETH crypto stamps and selling btc on the counter, but in germany you need a banking license to run a btc atm and even you
have a kyc send to the bank your account get closed and people wait to get their money back because of regulations.
Some small shops take btc as payment, but thats all.
We are a third country when it comes to bitcoin compared to Australia.

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Quote from: Assface16678 on August 16, 2020, 09:15:00 AM

I think this is another year with the number of people making an investment with the use of the cryptocurrency because they know now already and spreading the news with the support of the bitcoin we all know that those countries are a friendly adopts the use of the digital currency. Still, we are heading toward the other countries that will make move too right now with the use of the bitcoin. Even this takes a lot of time still we are wanting to make innovation and process with the use of the bitcoin.

Indeed the user growth of cryptocurrency is increasing through the years, this reflects the increase in the users in exchanges like coinbase and binance which is relatively high compare to 2017 and 2018. People tends to look at online investments because it is on trend right now, yet we can't blame them coz it is unbelievably behaving giving high profits with the right coins. However, on the other page, there are countries who continously attacks cryptocurrency by banning it to circulate in their country due to some not so logical reasons, still we should respect them.

Quote from: Assface16678 on August 16, 2020, 09:15:00 AM

Right now one of the best things and kind of payment is the online transaction in which bitcoin is on the scope with this kind of transaction but the problem is only a few businesses support this kind of transaction but still what if sooner or later there is some improvement.

Digital currencies are on the run and I don't think bitcoin will be use mainly for digital transaction in casual times like buying from online stores, still people would choose the digital fiat coz that's what they need right now.

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Quote from: fiulpro on August 16, 2020, 10:00:10 AM

Quote from: malekbaba on August 15, 2020, 01:49:09 PM

Bitcoin is winning digital war in South korea and Australia. They will replace some physical licenses into digital formats.
In S. korea, Seongnam's payment already have integrated digital certificate into existing payment system. In Busan, visitor can pay service charges with byc/eth. And finally KEB, one of the biggest bank have partnered with Korean express Highway corp to introduce a decentralized blockchain based system to implement several toll services.
Now Australia, also have strated trial for eth based license that may replace the physical obe, in future

Good vibes are coming from different parts for crypto, happiness overload

It's not just South Korea and Australia there are many other countries which have integrated Bitcoins and other cryptocurrencies in their economics and it's as normal as using a master card.
With the new Advent of crypto cards soon being in circulation in Europe I do believe there will be other countries willing to jump in the race too .

Here is the list of countries that I found online where Bitcoins and other cryptocurrencies are highly valued:
Malta
Bermuda
Switzerland
Japan
Gibraltar
Slovenia
Singapore
Estonia
Georgia
Belarus
Hong Kong (it's system is separate from China , thus can be classified differently)
Germany

https://99bitcoins.com/bitcoin-friendly-countries/

Honestly these are the countries which have already won the race of being years ahead of other countries.

There are many countries where BTC /ETH are being utilized widely. I never deny that. All I tried to say S. Korea and Australia have initiated some new projects that will help btc to grow, recently. I never say these 2 are the only BTC/crypto friendly. Hope you will understand now. Whenever some countries show interest towards crypto, it improves the whole crypto world. That was my point.

Topic: South Korea and Australia, they are bitcoin pro (Read 551 times)