US Arizona Senate Passes Bill To Allow Tax Payments In Bitcoin: it will help?

alyssa85

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Quote from: squatz1 on February 11, 2018, 01:10:05 PM

I mean I really don't think this is going to change anything, the government is just trying to increase revenue any way that they can. So it's not like they're openly promoting for Bitcoin, I think they just come to terms (with research and stuff) that they'd be able to do well with accepting bitcoin, maybe save some money on fees and then maybe even bring in some more tax revenue. So this isn't be done out of good faith, it's just being done in general.

While it does look good it's really nothing of value for us. We need adoption by businesses.

If people can pay tax in cryptocurrency, that makes it a currency not an asset (for example no-one pays tax in gold or diamonds or real estate).

Arizona is trying to attract cryptocurrency enthusiasts to their state, and more power to their elbow.

squatz1

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I mean I really don't think this is going to change anything, the government is just trying to increase revenue any way that they can. So it's not like they're openly promoting for Bitcoin, I think they just come to terms (with research and stuff) that they'd be able to do well with accepting bitcoin, maybe save some money on fees and then maybe even bring in some more tax revenue. So this isn't be done out of good faith, it's just being done in general.

While it does look good it's really nothing of value for us. We need adoption by businesses.

angelomoraaaa

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That's great, Arizona is definitely now the place for blockchain and digital currency. Now, you can have unlimited wallets. One for commerce, one for privacy. It is really a good development not just for Arizona, but the international economy. If the bill got signed, the law allows a 24-hour conversion, someone pays in crypto, the other side receives a comparable amount in USD. It will make life easier.

Vatimins

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Quote from: virendarnagpal on February 11, 2018, 04:34:08 AM

Senate of Arizona, United States has approved the bill to accept taxes in bitcoins and has sent the bill for further approval to House of Representatives.
It is one step forward to give legal status to the coin. It will definitely increase the demand of the bitcoin and as a result it's price will move upward.
Good news for bitcoin family.

This truly is a great news not just for bitcoins but for all the other altcoins out there too. And yes, I really do agree that this can really increase the demand and of course also increase the prices of the bitcoins and all the other cryptos present. I can only see great things happening more and more as time passes by after this bill has already been implemented. Just imagine, for sure after this state has approved this bill, some of the states near this place may consider following Arizona. Which then may lead to a chain reaction or a domino effect. I just hope this really tuns into reality someday.

coinlawyer

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Will bee a huge step towards the real massive adoption of BTC and the other cryptocurrencies at general if they pass the final stage for this bill. Also, most economists agree that taxes are a key sphere where bockchain and cryptocurrencies would be widelly used in the future, what gives them the additional value.

virendarnagpal

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Senate of Arizona, United States has approved the bill to accept taxes in bitcoins and has sent the bill for further approval to House of Representatives.
It is one step forward to give legal status to the coin. It will definitely increase the demand of the bitcoin and as a result it's price will move upward.
Good news for bitcoin family.

Topic: US Arizona Senate Passes Bill To Allow Tax Payments In Bitcoin: it will help? (Read 142 times)