The Rise Of Digital Currencies On The Baltic Shores

ebliever

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Quote from: MightyStorm on May 20, 2015, 01:56:46 AM

Quote from: Kprawn on May 20, 2015, 01:40:04 AM

The decision to apply 20% VAT to Bitcoin transactions, might be a bit of a blockage, but no more than the USA {KYC/AML regulations}

Damn, 20% VAT - they do not want much, do they? I'm not from US, so what's happening there? What's KYC/AML?

KYC = Know Your Customer
AML = Anti-Money Laundering

Is a shorthand way of referring to regulation that requires banks to be able to provide law enforcement with information on customers, so law enforcement can track down criminals using the bank.

MightyStorm

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Quote from: MightyStorm on May 19, 2015, 10:50:18 PM

I'd like to know who is the CoinTelegraph artist ? He is just awesome

Here's the guy and yes, he's really awesome.

Jeremycoin

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𝓗𝓞𝓓𝓛

Quote from: louise123 on May 20, 2015, 01:21:16 AM

Quote from: Amph on May 20, 2015, 01:11:36 AM

the more who accept bitcoin the better, they said that they did not notice difference when dealing with bitcoin and fiat, maybe this was the reason why they did not accept it before

That means that either, their banks and payment processors are very generous and are not charging them transaction fees,
or, they didn't really pay attention on how Bitcoin works.

No fees??? I can't believe a banks can do that think, the people should be very happy to keep their money in the banks.

gkv9

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!!! RiSe aBovE ThE StoRm !!!

Don't know whether Baltic countries might leave Europe behind or not, but they are surely going to leave an impression of development rather than just seeing the world going ahead, sitting back and waiting for someone to ask them to get into Cryptographic world...

CrazyJoker

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Quote from: MightyStorm on May 19, 2015, 10:50:18 PM

I'd like to know who is the CoinTelegraph artist ? He is just awesome

boopy265420

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May be the rise of crypto/digital currencies in Baltic countries is a big positive sign of economy shift as these countries are very open and friendly fot crypto currencies may be these will have advantage on long term.The world financial system will no more remain the same after the innovation of Bitcoin.Bitcoin single without other crypto currencies can not enough for next economic/financial system so Bitcoin and crypto currencies will dominate next financial system.

bryant.coleman

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Quote from: Kprawn on May 20, 2015, 01:40:04 AM

The decision to apply 20% VAT to Bitcoin transactions, might be a bit of a blockage, but no more than the USA {KYC/AML regulations}

Will this 20% tax be applied on the profit, or will it be applied on the total Bitcoin value? If the latter is true, then I don't think that anyone in their right minds will be using Bitcoin in the Baltics (at least legally). Why go for Bitcoin and its 20% VAT, when I can do the same with a credit card which charges only 1.8% in fees?

MightyStorm

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Quote from: Kprawn on May 20, 2015, 01:40:04 AM

The decision to apply 20% VAT to Bitcoin transactions, might be a bit of a blockage, but no more than the USA {KYC/AML regulations}

Damn, 20% VAT - they do not want much, do they? I'm not from US, so what's happening there? What's KYC/AML?

Kprawn

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We can thank these people for Skype, and their popularity and wealth due to this, might have sparked a innovasion wave.

They seem to be a country with a lot of pioneers : world’s first parliamentary e-elections, fully digital taxation and e-health systems and Latvian airline AirBaltic, being the first to announced that their airline will accept Bitcoin payments.

The decision to apply 20% VAT to Bitcoin transactions, might be a bit of a blockage, but no more than the USA {KYC/AML regulations}

shulio

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Quote from: MightyStorm on May 19, 2015, 10:50:18 PM

Following the trend, do you think the Baltic countries might leave the rest of Europe behind?

They will not. Europe has pride in this things and Baltic Countries are not a big country. It will not make a lot of differences but this news will just be a hype for a short moment. Europe will follow them or leave it to be depending on the hype for this, if the hype is big enough than the rest of europe might follow

louise123

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Quote from: Amph on May 20, 2015, 01:11:36 AM

the more who accept bitcoin the better, they said that they did not notice difference when dealing with bitcoin and fiat, maybe this was the reason why they did not accept it before

That means that either, their banks and payment processors are very generous and are not charging them transaction fees,
or, they didn't really pay attention on how Bitcoin works.

Amph

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the more who accept bitcoin the better, they said that they did not notice difference when dealing with bitcoin and fiat, maybe this was the reason why they did not accept it before

thebenjamincode

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37iGtdUJc2xXTDkw5TQZJQX1Wb98gSLYVP

I look forward to bitcoin's success and i hope many big investors and countries would use it

MightyStorm

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The Baltic region has been noted for its high output of tech start-ups over the last few years.
Now the focus of these companies is increasingly turning towards the digital currency sector.

Though these countries have not been known as strong economies, they show a certain rise recently,
especially in crypto currencies field.

Following the trend, do you think the Baltic countries might leave the rest of Europe behind?

Topic: The Rise Of Digital Currencies On The Baltic Shores (Read 769 times)