Bitcoin Forum

So as we know, Japan accepted and the price jumped to 2500$ and now on first july Australia is accepting bitcoin and from 1st August segwit is implemented (as I've read online). Will we see the $3500 price until september? Will that stabilize the price a little?

I think we'll see $ 4000 in September and $5000 until December, we just have to wait.

Since the segwit novel does not bring more news I think we can see  $5000 in December

Eh?

As far as I know the only thing that might be changing is Australia taxing Bitcoin sensibly. Before that it had a ludicrous VAT thing.

It's not going to make much difference in the short term but it's all positive.

Australia has never not accepted bitcoin, we just were taxing it 10% GST to buy them and then again to sell them so they are fixing that double taxation issue.

The ATO (our tax department) has had guidelines on taxing bitcoins up since 2014

The Australian market is also small potatoes too, there is not many of us and we are pretty slow and conservative to new technology

I think that as Australia is slow to adapt, the fact it has changed the law, is a very big positive and in fact remarkable, it serves as defacto recognition of BTC inmho.

Yeah but aside from Australia accepting Bitcoin I don't think there is much difference though. I've read somewhere in this forum stating after the segwit Bitcoin might split so there is a big chance the price might go down. But we can never tell what will happen not until it'll be the 1st of August because usually if people here news about Bitcoins or any other altcoins, usually the prices go up.

australia is not like japan they were not as a big before like ti was for japan, which was prominent in the adoption even before regulating it

if more country begin to adopt like japan did it's clear that the value will increase, this is obvious, by how much no one know

i think segwit activation will play a better role than another country regulating bitcoin

the difference will be huge,the obvious:the more countries legalise bitcoins,the higher the price will be
Japan legalisation saw us break 2000$ mark,even if it was not the only reason
I know that many businesses and gambling site owners live in Australia,if they were able
to establish flourishing businesses aready,think how many more companies and sites will appear after the 1 of August
lets hope Segwit transition goes smoothly and we enjoy tothemoon ride

As the date of the actual implementation of the law comes we'll probably see a definitive rise in bitcoin price. Right now though it doesn't seem to affect btc value all that much at all, although it is recovering quite well from the crash earlier.


Yeah, the only thing that has really changed is the 10% GST that was charged on BTC purchases which made a lot of people unable to buy bitcoins because it would put them in the negatives instantly.. When this is gone it'll be easier for Australians to buy and sell BTC without having to worry about tax. Might not be the best policy that could be implemented but it's a step in the right direction.

Australia is not Japan, after Mt Gox there was a drop on the interest of the Japanese with bitcoin, but it seems this has been renovated and with good reason, Australia has never been on the ma when it comes to bitcoin, most of the time I hear about Japan, China and now even Korea but that is it, so we must not get our hopes up when it comes to Australia.