Bitcoin Forum

Hi guys,
I saw this article: https://cointelegraph.com/news/ohio-appears-to-be-first-us-state-to-accept-bitcoin-for-taxes-wsj-report
which is about payments allowed in the US state, Ohio, that allows tax payments with bitcoin.
It's really cool that everyday more and more states/countries are starting to allow cypto payments. There is a real potential here i guess.

I think that in the future we might or we should have also some sort of marketplace that allows buying/selling from bananas to cars with cryptocurrencies. Won't that be cool?

Even though that they're accepting bitcoin through BitPay, meaning that your bitcoin will be automatically sold for fiat at point of sale, it's still good news in my opinion. Certain entities that gives people the option to pay for whatever through bitcoin is always good.

Take a look at OpenBazaar[1]. It's a decent potential high-volume market in the future, but it's not that good as of the moment.

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[1] https://openbazaar.org/

Well if the above news is true then this is another great step in the spread of cryptocurrency globally and we welcome more of this in the future. But about the taxation I am confused about who will the tax be paid to since cryptocurrency is volatile

Great News! Globalization of btc will raise its price. At first, people pay taxes with btc, then they buy goods with btc, and this way btc becomes a global currency. The more use cases, the better!

GREAT NEWS! One step closer to mass adoption!  ;)

I never thought that I'd actually see this day; 3 yrs ago, we're just speculating about governments accepting bitcoin as a form of payment for taxes, and 3 years later Ohio is doing it, albeit the help of a 3rd party payment processor Bitpay. Overall this is a step towards a brighter future for bitcoin and its use-cases; awareness would also be raised since people would be curious on what is bitcoin and why can it be used for tax-related payments.

An awesome news coming from the state of Ohio. This will surely ease the stress of paying directing with fiat and cutting off high charged that may be incurred. Mass awareness and adoption increasing gradually.

Tax payment in terms of bitcoin is not new even Switzerland has the same provision.

WOW
I can't believe it!
They allows tax payments with bitcoin.
In my country, central bank issued statement that bitcoin is not currency or financial asset.
So, even to report income from crypto is very difficult.
Those people in Ohio are so lucky :)

of course I hope that bitcoin will make the currency in the future so we will use bitcoin buying / selling because bitcoin is making the current trend with many bitcoin users even some countries that accept bitcoin with transactions that are fast and security is guaranteed.

Hey this is great news for the residents of Ohio, this will give them another way to pay them taxes, and will surely increase the amount of taxes they collect. I remember a year back there was lot of discussion whether governments would accept bitcoins as legal tender, and today we finally see it happening. I hope this leads to more governments accepting it, however it will be a while before we see results from it.

It gives more credibility when government departments start accepting bitcoin, from there it will branch out to other areas as we move towards mass adoption of crypto

This is good news for the future of crypto, and I think a country or group will emerge that will allow crypto to be accepted and allowed for transactions.

This is an excellent news when a state in a world power accepts Bitcoin as a form of payment. I believe everything is back and this damn market can stop. I hope that useful information will be released to help the market recover.

With this news, it should be an encouragement for countries that have not been able to receive crypto back to consider crypto functionality. Certainly, this is a positive hope for a better future.

The dip in prices of cryptocurrency has taken everyone's attention to the significant inroads bitcoin and other cryptocurrency are making. This is one out of many that are yet to come. Once the correction is over and volatility reduced, more of these news will be a regular thing.

only with business tho

In Switzerland, BTC accepted to pay taxes like this if I remember correctly. I read about a year ago. But a state in the United States is also very good.

read that article yesterday too and yes i think it is really cool that government people are finally opening up to crypto currency it will really be a big deal for mass adoption i think. About the market place, there are a lot of projects now doing platform to take care of market place for cars, real estate ect.. if you'll go around this forum will find those sort of projects.

I hope that in the near future all the states in America will accept Bitcoin and we will again be able to hope that prices will rise

Yes great to see some good news. I honestly am surprised that a state body
is allowing payment with bitcoin. Its a positive step.
It really blows in the face of all those people who love to talk down bitcoin.

This is great that every news have a good news if we are reading that some of country was accepting  bitcoin and this is one of the positive steps and we hope that even China or all of the country was easy to transact for all of us so we hope that all country continues to accept  bitcoin one of the currency  of the country because we are one of those beneficiary  for that.

wow its great that there are many place that start to accept bitcoin as the payment, and i hope we can use bitcoin in all places in the world. so we can need to carry our wallet or debit card anymor

Yes, this is great news. And it should be well reflected in the market. But while the market does not want to turn green. And with you, I agree that buying BTC from food to cars would be very cool.

This is the first step in the United States to accept BTC as a means of payment!
As a pilot, if Ohio succeeds, BTC will be widely promoted in the United States!
Ohio may be the first state to accept bitcoin taxation.

Great. Bitcoin is widely accepted throughout the world. But I'm concerned about the bitcoin rate when it's accepted for taxes at OHIO. How will it be calculated?
It is interesting to think about how it works. I will wait for news from Ohio  ;D

Great! Ohio authority finally recognizes Bitcoin and Crypto as official payment methods!

We will definitely reach an era like this, what we need to do now is try to wait. The situation of the development of the digital currency is already on a good track. We are only waiting for decisions and support from the government. Digital currency is a phenomenal thing and all elements must be able to support the development of digital currencies in real terms.

The more places that can accept Bitcoin, the better it will be for the future of Bitcoin.

Have you heard of Virternity project?
I think that's close to what you are talking about.. I've been reading this blog post and it sounds interesting. (https://www.decentpropaganda.com/virternitys-distributed-exchange-network-could-put-crypto-exchanges-out-of-business/)
I am a bit skeptical but.. who knows?! Might actually work.

There's a new project coming on the market (heard about it..) that aims to create some sort of marketplace where most cryptocurrencies are accepted and it's going to be a faster way of exchange, a simpler way of doing trading or other operations with cryptos. I think it's a cool initiative and it might result in something truly great..

Progress does not stand still and pay taxes becomes more convenient with the help of bitcoin , but I think it is not profitable as its potential is limitless !

Yeah that's true Ohio accepting bitcoin as payment of tax and Bitcoin getting famous day by day which is really good for market.
Current situation of crypto market is not good but never sell assets of crypto at very cheap price but if you can afford then we should invest on good potential projects.
I also heard that in Canada jewelry shop accepting Bitcoin as payment. 2019 is gonna be good for crypto market.  8)
https://www.coindesk.com/canadian-jewelry-retailer-birks-now-accepts-bitcoin-payments  

Look, it's great that you now have so many instances where you can pay with Bitcoin, but does it really have an effect on the popularity of Bitcoin as a method of payment?

I'd be way more interested in seeing how many people actually do pay using Bitcoin.
I would imagine that those numbers really aren't that great at the moment.

There are a few stores that accept Bitcoin in the area where I live and they all say the same thing.
The amount of customers paying with Bitcoin isn't anything to write home about.

As long as people aren't using it as a payment method, it doesn't really matter that more stores are accepting it.
Okay, you get some additional visibility because of it, but does that really push people to start using it?

From day to day there will be good news about Bitcoin, Ohio starting to accept bitcoin for transactions and this is a good start for further development of bitcoin, then Canada also has good news about bitcoin, hoping this news can make bitcoin more valuable and accepted everywhere without debating it.

It is not only Ohio accepts bitcoin because bitcoin is widely spread already all over the world. So meaning to say that the use of bitcoin will be also from around the world. This is why I was asking on why is it that bitcoin market price has drop when it is already known globally and many are interested on investing on bitcoin. Hope to see a market price pump for bitcoin.

This means that news of Bitcoin is a step ahead. Bitcoin has begun to be used as a tax payment tool.What's important is that someone has started and is expected to be followed by other countries.With the increasing use of bitcoin applications, it is expected that trust in bitcoin will increase so that the price of bitcoin also rises

It is good sign one of the states in USA is accepting bitcoin that too for tax payments we may soon see more states in USA and other parts of the world accept tax collections in crypto currencies This is positive developments for cryptocurrencies industry all together

I think the rate will followed the bitcoin price at point-of-sale if I'm not mistaken since they're going to used Bitpay.

Yes, it's going to be interesting indeed, it might set a precedent if this whole 'experiment' will be a success. Maybe we can see other States as well follow what OHIO has done.

Isnt it nice to see news like this? This is definitely cool , now that many of us accepts and adopts bitcoin. I will expect that this may have a positive impact on bitcoin especially on bitcoin haters. A lot of countries accept bitcoin especially from the SouthEast Asia. Of course there is potential. The future will be more successful than now. And I know that someday we can already use bitcoin in different things like paying bills or paying for the service.

Excellent already one of the States in the United States began to accept bitcoins legally. Think that the number of States in the us will grow in which accept bitcoin !

Right, another state in the United States of America accepted bitcoin legally this is great news for us bitcoiner cause bitcoin continues spreading all over the world. I wish all countries around the world will accepted bitcoin.

This is a good step and other states may follow this, the potential tax obtained from the crypto industry is quite large and it’s so wrong if they don’t take the opportunity, and especially considering US is one of the big players in the crypto field.

I doubt that news like this has a significant i (http://yubster.com)mpact on the market, especially this is just one state. No need to rush, man.

but actually there is a bad effect if we see this widely, besides why the USA does not simultaneously make crypto and the blockchain becomes legal so there is no need for news that every time every state uses bitcoin. If the price of bitcoin continues to decline, the taxation party will suffer a heavy loss that will affect the development of the state

this is good and positive news, when many countries are afraid to accept bitcoin ohio dare to accept it as a means of payment, hopefully this positive news will immediately change the market situation for the better.

Every day new places start accepting payments in cryptocurrencies, but usually these are companies, shops, and services offered by private individuals - cryptocurrency supporters. A much greater impact is given by the information that institutions connected to the government are beginning to accept cryptocurrencies! Thank you Ohio!

That's right, that's very good. Because, with the increasing number of countries or institutions that use bitcoin as a means of payment. So that, it will accelerate global adoption

When more and more regions accept Bitcoin then this is an extraordinary progress. I am very sure when there is an increase in the number of places that accept payment of transactions with Bitcoin, it will significantly increase the level of trust. Currently in the development of Bitcoin, the increase in the number of places that accept Bitcoin will greatly impact the increase in Bitcoin prices.

Indeed this is a great news for the users of bitcoin in Ohio from now they can pay through bitcoin. By taking this step people of Ohio who loves to adopt bitcoin they feel encouraged to adopt more bitcoin making profits at the same time they will allow paying taxes by bitcoin. So it is going to be a new era for Ohio bitcoin users.

This recent move makes the hope of making Ohio state a leader in Blockchain technology development and can be considered as the adoption of Bitcoin. Without a doubt, State Ohio is a leader in blockchain technology. The officials believe that it is not possible to become the leader in technology without growth in the technological economy.

In Switzerland, BTC accepted pay taxes like this if I remember correctly. I read about a year ago. But a state in the United States is also very good.
Of course, every positive regulation has an impact to Bitcoin, even though it's small but at least Bitcoin has gone one step ahead from before.

Um, unfortunately they don't care and definitely there will be sentences coming out from them, so who cares.

It is great, it means a lot for bitcoin if any states or countries adopting bitcoin, its a positive growth for bitcoin, if this keep continue then the usage will be expanded and it will attract more investors, actually we already got a marketplace for crypto but its not famous, due to the high volatility, people not too pleased to used crypto as payment