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Title: Bitcoin treated as money in Australia from 1. july Post by: Tyrantt on May 12, 2017, 11:59:07 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this?
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Hydrogen on May 13, 2017, 01:09:27 AM Found an article to confirm this.
Quote Australia Will Recognize Bitcoin as Money and Protect Bitcoin Businesses, No Taxes Bitcoin will be treated as money in Australia by July 1, 2017, and will be exempt from goods and services tax (GST). Bitcoin traders and investors will not be taxed for purchasing and selling Bitcoin through regulated exchanges and trading platforms. Over the past two years, the Australian Bitcoin exchange market significantly fell behind growing markets such as South Korea, Japan and South Korea, that control more than half of the global Bitcoin exchange market share. Two majors factors which drove startups, exchanges and businesses dealing with Bitcoin and other digital currencies in Australia away from the country where the termination of banking services by leading Australian banks due to their anti-competitive nature and the double taxation of Bitcoin trading by the Australian government. Starting July 1 however, double taxation and trading and goods and services taxation on Bitcoin will be exempted. In its 2017 to 2018 budget for “Backing innovation and FinTech,” the Australian government wrote: Quote “The Government will make it easier for new innovative digital currency businesses to operate in Australia. From 1 July 2017, purchases of digital currency will no longer be subject to the GST, allowing digital currencies to be treated just like money for GST purposes. Currently, consumers who use digital currencies can effectively bear GST twice: once on the purchase of the digital currency and once again on its use in exchange for other goods and services subject to the GST.” The government will also protect Bitcoin businesses and exchanges More importantly, the Australian government’s new vision to spur the growth of fintech and the digital currency market would most likely prevent local banks and financial institutions for unfairly denying banking services to Bitcoin businesses and exchanges. If the above mentioned issues can be resolved by July 1, the Australian Bitcoin market could potentially experience a rapid growth in terms of user base and trading volumes. The document further read: Quote “Innovation will drive productivity growth in Australia. That is why the Government’s $1.1 bln National Innovation and Science Agenda (NISA) is designed to enable Australia to take full advantage of new economic opportunities. The Government is committed to establishing Australia as a leading global financial technology (fintech) hub and is announcing a new package that aims to position our local fintech industry as a world leader.” At the Blockchain NZ conference held in Auckland, New Zealand earlier this week, Bitcoin and security expert Andreas Antonopoulos emphasized the Australian government’s uninvolvement in its local Bitcoin market and the impact of such actions on Bitcoin businesses and exchanges. More to that, Antonopoulos criticized the local government’s taxation policy on Bitcoin, which essentially drove away businesses and users from Australia to other countries. “Governments can choose to either do nothing – which is okay, make things worse for cryptocurrency trading – like what Australia did by imposing sales taxes on all cryptocurrency transactions, or they can make things easier for companies by reining in the banks and encouraging companies by creating a level playing field,” Antonopoulos said. With Australia’s new policy, the Bitcoin ecosystem in the country could change drastically. Banks will start offering services to Bitcoin exchanges and traders will not be taxed with GST upon the purchase of Bitcoin. https://cointelegraph.com/news/australia-will-recognize-bitcoin-as-money-and-protect-bitcoin-businesses-no-taxes If this raises demand along with russia and japan recognizing btc as a legit currency, it could drive the base cost of btc even higher. :) Here's another more mainstream source: http://www.ibtimes.com/australia-japan-give-boost-bitcoin-price-which-surges-past-1800-2537349 Title: Re: Bitcoin treated as money in Australia from 1. july Post by: BartS on May 13, 2017, 01:42:12 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: pitham1 on May 13, 2017, 02:22:15 AM This is wonderful news. Along with Japan, Australia seems to be taking the lead in recognizing the potential of Bitcoin.
Other countries, who have adopted a wait and watch approach, could learn from Australia. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: btcney on May 13, 2017, 02:40:09 AM THis is going to be great for Australia and all the bitcoin businesses that have a operation base in Australia because right now purchases of bitcoins are charged the GST which is a whopping 10%, something you don't want to be charged on on your money.
It's definitely going to drive up adoption in Australia as well, which is going to be amazing. Good job Australia, i wouldn't be surprised if other countries follow suit as Australia and Japan are two of the most dominant economies in the world. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: omonuyak on May 13, 2017, 08:23:07 AM This is a great news! I do believe that it is another opportunity to make it big in trading because within that July if it happens as stated then we expect the price of bitcoin to pump up and we that have saving in bitcoin, it will be another opportunity to make profit.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Dudeperfect on May 13, 2017, 08:36:23 AM I want all governments around the world to do this because bitcoin is something that is unstoppable now and since governments will not be able to ban bitcoin completely, any wrong move would increase hidden usage of bitcoin and that would be serious trouble. Instead, if governments could cope up with this technology then it would be really helpful for the economies to grow as there will be more interconnectivity between the economies around the world.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: audaciousbeing on May 13, 2017, 08:48:11 AM In as much as it is a good news to be heard in this time, but I still feel can bitcoin handle all this pressure by the time a lot of people start coming into it. Good the price of bitcoin will increase but what will be the effect on the transaction fees that will come with it or the number of hours that delay will occur in the process of making a transfer between a buyer and seller knowing fully well that once a confirmation does not happen then double spending can occur, won't this open another room for scammers to continue their exploitation of innocent people.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Question123 on May 13, 2017, 08:51:45 AM Thats one of the history new in bitcoin because if Australia use bitcoin, adapt bitcoin, as payment or as money the bitcoin price will pump because many people there buy bitcoin because they use it to buy their needs everyday and to shopping and many more. And halving is happening in july10 and thats good for sure the price of bitcoin will increase or maybe it become $3000 or more. I hope many countrg also accept and use bitcoin.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: pinkflower on May 13, 2017, 09:17:23 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? So then now AML laws will apply to those BTC users who move money around the network. Anyone whos constantly moving even the small amounts can be liable by law as money launderers. There are many ways your government can abuse this. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Yuhee on May 13, 2017, 09:58:51 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Nice. This just proves btc is a growing physical asset. Well its better for them because they are considered a 1st world country and they wont be needing tax. But in some 3rd world countries where taxes is a way for the government to give back for the country then it would take long period before the start to recognize btc. Business firms may adapt it but it's not easy for government to input tax on it. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: vatived22 on May 13, 2017, 10:01:04 AM This is just the start of many good things to come for BTC. just cant imagine when China, Africa and India will legitimize bitcoin. the price of 100,000 is very possible.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Nevis on May 13, 2017, 10:13:29 AM Goodnews for all new coming bitcoin users and all users who been in bitcoins for a long time,see what happen after japan accepted bitcoin price pump due to increase in merchants which may also happen when it is launched in australia
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Invester on May 13, 2017, 10:30:46 AM Great news and we will be expecting more soon. I hope my neighboring countries will officially accept too so I can just easily hop in. ;D
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: danherbias07 on May 13, 2017, 10:36:34 AM Holy ****!
Another one. Thanks for this update will be reading it later. This is one big leap for bitcoin again. What will be its impact with bitcoin value? That is one good question when this news spreads out. Bitcoin holders might tighten their wallets into not spending even just a satoshi because of this great news. There will be a lot of demands when the news spreads in Oceania too. People will be buying and might want to hold some too. This is really a great year for bitcoin. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Quartx on May 13, 2017, 10:37:28 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Are you sure you read correctly? Accepting bitcoin as just a currency simply means that transactions using bitcoin from that point onwards will simply be taxed once, and not twice that it has currently been done for most bitcoin transactions. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: joshy23 on May 13, 2017, 01:38:47 PM I initially thought that Australia will decide the fate of bitcoin on July 1, I may have misread it. And if this true, then bitcoin price will have new ATH everyday. ;D moving forward.
This is really a very very good news for all bitcoin enthusiast out there. We now have the backing of 2 economic progressive country now. Bitcoin is truly transforming and changing the economics globally. Maybe some of those that predict the bitcoin price of $5000-$10000 will be realized sooner than we think. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Mometaskers on May 13, 2017, 01:45:42 PM Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process.
Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: ethereumhunter on May 13, 2017, 01:49:07 PM good news and gladly i know about this news so we can see more country that will use bitcoin and will be integrated with the economy of the country. i think in the near future, there are more country that will approve bitcoin so many people will use bitcoin and spread about bitcoin in many places.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: kalodu on May 13, 2017, 01:53:19 PM This is great news however it doesn't mean as some people think that merchants will necessarily accept it. This will only happen if there is demand from the public for them to accept it. And I fear this will be hampered by the scaling issues currently affecting bitcoin.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Sniper44 on May 13, 2017, 02:07:11 PM This is great news however it doesn't mean as some people think that merchants will necessarily accept it. This will only happen if there is demand from the public for them to accept it. And I fear this will be hampered by the scaling issues currently affecting bitcoin. good point but it happens eventually. these things are a slow process of people adopting bitcoin and merchants slowly add bitcoin payment for fun at first (like those merchants that are interested in bitcoin) then more people adopt it and more merchants accept it and then all of a sudden (in a year or two) you see a lot of adoption and growth. the process is like one of those S shape charts with a slow initiation process and then a high speed. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: kalodu on May 13, 2017, 02:11:01 PM This is great news however it doesn't mean as some people think that merchants will necessarily accept it. This will only happen if there is demand from the public for them to accept it. And I fear this will be hampered by the scaling issues currently affecting bitcoin. good point but it happens eventually. these things are a slow process of people adopting bitcoin and merchants slowly add bitcoin payment for fun at first (like those merchants that are interested in bitcoin) then more people adopt it and more merchants accept it and then all of a sudden (in a year or two) you see a lot of adoption and growth. the process is like one of those S shape charts with a slow initiation process and then a high speed. I agree its a slow process, and fixing the bitcoin issues is also a slow process since consensus takes a long time to reach when its grown so big already. I just hope the scaling issues are solved faster than the merchants wanting to start accepting those payments. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Rinder on May 13, 2017, 03:04:36 PM I werent expecting Australia to be the first to legalize bitcoin at all, but i believe once they really make those, we will see others countries adopting it, otherwise i believe its time to moove country. I do hope on the next months, or atleast till 2020 all countries does recognize bitcoin, with those massive support bitcoin will be no more a dark currencie, and can become an investment option, news can talk about its history.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: MingLee on May 13, 2017, 03:13:12 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? +article about itThat's actually pretty cool. Glad to see that some parts of the anglosphere are getting interested in it and are willing to start looking into Bitcoin as something of value and validity instead of something that is working directly against government interests. However, it could always be because they want the Chinese crypto market :^) Title: Re: Bitcoin treated as money in Australia from 1. july Post by: BitcoinPC on May 13, 2017, 03:14:09 PM Well, I really not read that news but if it is true than it is incredible news for bitcoin and also for bitcoin's users. Because it will be a reason to grow the price of bitcoin and definitely it would also help for those countries who are not allowing the bitcoin to accept in government level.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: KuromaYoichi on May 13, 2017, 03:19:05 PM Yes, this is another good news for bitcoin after the one about bitcoin accepted as legal payment in japan. Australia is not the country i expected to accept bitcoin this fast but i don't mind either as more demand is good for bitcoin. I hope with this the demand will continue to increase and bitcoin will become popular in australia.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: lemipawa on May 13, 2017, 03:25:57 PM Good news indeed but lets still wait until it is fully implemented in Australia and if this is indeed true then this will also drive the price of Bitcoin to another level as there will bean increase of demand of Bitcoin in that Country both for old user and new users. This is another reason to hold on to what you have.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: clickerz on May 13, 2017, 03:37:35 PM This is what my friend talking about since last day. Bitcoin is becoming mainstream and more country will be accepting bitcoin as currency. We expect more country will follow suit. Congratulations to Australia!
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Potato Chips on May 13, 2017, 04:52:13 PM This is what my friend talking about since last day. Bitcoin is becoming mainstream and more country will be accepting bitcoin as currency. We expect more country will follow suit. Congratulations to Australia! Yah many countries will certainly follow. i believe that it all started with japan when they announced that they are gonna accept bitcoin and now we are hearing some good feedbacks from them so obviously other countries are hearing them also . I hope we will got some good feedbacks about australia too because if all countries has reported to have made improvements when they started using bitcoin it can be easier for other countries to do the same thing. These are not much but maybe it can be a great start? london- Blockchain Startup Teams Up With London Designer To Transform Fashion Industry (https://cointelegraph.com/news/blockchain-startup-teams-up-with-london-designer-to-transform-fashion-industry) russia- Bitcoin Coming To Russian E-Commerce Giant Ulmart Starting September 1 (https://cointelegraph.com/news/bitcoin-coming-to-russian-e-commerce-giant-ulmart-starting-september) france- France's Government is Beginning a Blockchain Research Effort (http://www.coindesk.com/frances-government-beginning-blockchain-research-effort/) Title: Re: Bitcoin treated as money in Australia from 1. july Post by: cellard on May 13, 2017, 04:54:28 PM I saw a guy claiming that this would mean Australia does not tax bitcoin, and I think this is not the case at all, so study how taxes work because taxes still apply.
I guess this means that in Australia you don't have to pay nothing but capital gains if you cash out in AUS (as it should be, because having to keep track of every single crypto trade you do is an act of insanity) Title: Re: Bitcoin treated as money in Australia from 1. july Post by: skorupi17 on May 13, 2017, 04:54:37 PM I've stumbled upon this type of thread that claims that Australia declared the acceptance of bitcoin. And what is truly fascinating about this is that they are not to impose any taxes at all. Obviously, many business minded person in Australia will start to adopt bitcoin in order to evade taxes. As a result, more and more people will be engaged in bitcoin, the demand for bitcoin will soar up, and to what we always wanted, we will see a tremendous increase in bitcoin's price. I'll be watching this ::)
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: lionheart78 on May 13, 2017, 04:58:43 PM That is great news. One good news after another ;D. I think Australis will be the next highest volume in Bitcoin when that acceptance is implemented. The best thing is that, buy and sell of Bitcoin is exempted of tax. I hope my country will implement such thing. but I doubt they will.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Netnox on May 13, 2017, 05:42:50 PM So after the good news from Japan, we are having another one from Australia? This is great. I hope that very soon the other developed nations (especially the European Union and the United States) are going to follow them.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: KennyR on May 13, 2017, 05:48:47 PM This is what my friend talking about since last day. Bitcoin is becoming mainstream and more country will be accepting bitcoin as currency. We expect more country will follow suit. Congratulations to Australia! Yeah soon after bitcoin adoption from Japan more Countries have started to use bitcoin in a large scale. As a part now Australia have started to use bitcoin similar to mainstream currency. By the coming years we can expect more and more users into the bitcoin as well digital currency network.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: roadbits on May 13, 2017, 05:54:00 PM This is what my friend talking about since last day. Bitcoin is becoming mainstream and more country will be accepting bitcoin as currency. We expect more country will follow suit. Congratulations to Australia! Yeah soon after bitcoin adoption from Japan more Countries have started to use bitcoin in a large scale. As a part now Australia have started to use bitcoin similar to mainstream currency. By the coming years we can expect more and more users into the bitcoin as well digital currency network.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: HTML6 on May 13, 2017, 06:02:39 PM Holy crap this is amazing. They explicitly said they won't be taxing bitcoins. What a great opportunity for everyone in Australia.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Barbut on May 13, 2017, 06:07:41 PM I already saw couple articles about this, I was even surprised when I saw this news on my language, some site noticed that and reported about this. Before bitcoin was double taxed, from 1 July bitcoin will be recognized as a currency and no more double tax. In one article I saw explanation, looks like many technology oriented companies left Australia, now they wish them to come back and now Australia plan to give them better conditions to grow their businesses. All in all good news for bitcoin, adoption started with Japan and now Australia, who is next?
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Tyrantt on May 13, 2017, 06:27:09 PM haha very familiar with all these reactions, I had to take a second look to make sure, thought I've read it wrong at first.
Truly's amazing to see more and more businesses and now countries accepting bitcoin. My money is on the Korea or Swiss to be next. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: bartolo on May 13, 2017, 07:07:28 PM Australia has long taken steps that are leading many people to speculate if it´s headed toward a cashless society http://www.abc.net.au/news/2017-03-27/is-australia-on-the-brink-of-becoming-cashless-society/8377288 (http://www.abc.net.au/news/2017-03-27/is-australia-on-the-brink-of-becoming-cashless-society/8377288). They are betting heavily on technology and in this sense it´s not at all strange this measure they have taken with regard to bitcoin. It´s clear that they bet on the use of bitcoin, the creation of companies and to attract investment. After the news from Japan now Australia, and what is to come, a change is coming and there are only two options, adapt or stay behind.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Sundark on May 13, 2017, 07:39:06 PM Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process. Japan was BTC acceptance bolstered market of cryptocurrencies, highly forward technological society is natural ground for crypto to thrive on.Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies. Australia from the other hand is not that big, total population of Australia (24 million) is smaller than Tokyo metropolitan area 38 million people. It still is totally badass move to accept Bitcoin as legal payment method (an no tax too!) but it will more of a symbolic gesture that anything else. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: xFiber on May 13, 2017, 07:48:49 PM I heard this news on the cryptoverse earlier today. Great news for our fellow bitcoin enthousiasts in australia. Let's hope other countries start adopting this trend aswell!
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: digaran on May 13, 2017, 08:42:10 PM Does it mean Satoshi was from both Japan and Australia at the same time? lol it's confusing or maybe they're competing to prove that Satoshi was from their country?
This however doesn't change anything from the root, of course if they start mining and have a vote in consensus and can actually effect the future of code in a good way that's something. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: SHAWN-MIDWAYS on May 13, 2017, 09:48:17 PM Not only will bitcoin be treated as money in Australia
the double tax system which was imposed on the traders for goods and services will also be scrapped off! These are among other factors contributing to bitcoins growth great move Australia 8). Title: Re: Bitcoin treated as money in Australia from 1. july Post by: clickerz on May 13, 2017, 10:12:55 PM This is what my friend talking about since last day. Bitcoin is becoming mainstream and more country will be accepting bitcoin as currency. We expect more country will follow suit. Congratulations to Australia! Yeah soon after bitcoin adoption from Japan more Countries have started to use bitcoin in a large scale. As a part now Australia have started to use bitcoin similar to mainstream currency. By the coming years we can expect more and more users into the bitcoin as well digital currency network.Well after Japan, Philippines followed also. Philippines Officially Legitimizes bitcoin as payment method. Though rules may vary in each country but we are going there that is acceptance and recognition in each country. Below is the cointelegraph link of news article. Link : https://cointelegraph.com/news/the-philippines-officially-legitimize-bitcoin-as-payment-method Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Harry Callahan on May 13, 2017, 11:55:48 PM Really great to see more countries following what Japan started and i wish more countries doing so will increase the amount of new investors in the coin and we should seriously think about the scaling issues if not it would stall the development. Let us hope we have a solution for that pretty soon.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: darthmaul on May 14, 2017, 02:12:10 AM That is astounding news for Australia. They can just granny amount money they want online in the form of bitcoins plus no taxes. That just makes them more profitable person on the earth. They can save any amount of money online from now to keep their families future safe and sound. I am guessing they will break the boundaries of economical system as the government itself taking part into the bitcoin as currency. They might implement more sophisticated system to use it smoothly within the country as well as for trading in rest of the world. Who knows bitcoin might just raise their economy and Australian dollars' value may raise too as rest of the world will be investing in bitcoins and indirectly pumping their dollar value per se. :D
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: davis196 on May 14, 2017, 06:30:02 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is good news.Australia is a big economy. I hope that New Zealand will join Australia soon.This might help for the btc price to reach 2000 USD. It will be even better if bitcoin is tax free. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Dimelord on May 14, 2017, 08:11:22 AM This is wonderful news. Along with Japan, Australia seems to be taking the lead in recognizing the potential of Bitcoin. More countries are yet to join this rally.These developments were the main reason for steady increase in bitcoin price.Hope India too would follow this path which would contribute more for bitcoin progress because india is the second largest populated country in the world.Other countries, who have adopted a wait and watch approach, could learn from Australia. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: LeGaulois on May 14, 2017, 09:56:19 AM Good to hear news like this one. But are you really sure they are not going to tax bitcoin? It's surprising from a government. If it's true more companies will strart to implement bitcoin just to avoid paying taxs to their government. It may help the small or medium companies at the end
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Taki on May 14, 2017, 10:53:16 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: pinkflower on May 14, 2017, 12:06:20 PM I saw a guy claiming that this would mean Australia does not tax bitcoin, and I think this is not the case at all, so study how taxes work because taxes still apply. I guess this means that in Australia you don't have to pay nothing but capital gains if you cash out in AUS (as it should be, because having to keep track of every single crypto trade you do is an act of insanity) No taxes for BTC? Thats impossible. What government would be so stupid to encourage their citizens to use a competing currency by not taxing it when its used? The guy who said it is probably not that intelligent. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Idrisu on May 14, 2017, 02:43:54 PM I heard this news on the cryptoverse earlier today. Great news for our fellow bitcoin enthousiasts in australia. Let's hope other countries start adopting this trend aswell! Storing satoshi for the upcoming Australia bitcoin adoption! I have read it from http://www.reddit.com/r/bitcoin yesterday. This is another opportunity for we the traders to make money and by this two great events I expect bitcoin to reach $2,500.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: eaLiTy on May 14, 2017, 03:10:36 PM Does it mean Satoshi was from both Japan and Australia at the same time? lol it's confusing or maybe they're competing to prove that Satoshi was from their country? This is a strange way to analyze things,what does the legalization of bitcoin has to do with the origins of the creator :P The time interval Satoshi was online is mainly UK and Australian time zones and other than the Japanese name he does not have any ties with Japan nor does he know the language and one more thing is that they does not need to start mining to legalize bitcoin. :DThis however doesn't change anything from the root, of course if they start mining and have a vote in consensus and can actually effect the future of code in a good way that's something. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: MMysterious on May 14, 2017, 04:08:03 PM I've also read the same article and it is a great way to say that the world of bitcoin is slowly being recognized to some countries. Hopefully more countries would soon follow.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Snorek on May 14, 2017, 04:30:58 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.Taxas is estimated to have more inhabitants than Australia. How many of those 24 million of Australian citizens will be interested in BTC? 1/10 1/20? Probably less. What I am counting on here is the fact that increasing acceptability of cryptographic money will cause chain reaction and other nations will follow. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Ayers on May 14, 2017, 04:31:33 PM This is great news however it doesn't mean as some people think that merchants will necessarily accept it. This will only happen if there is demand from the public for them to accept it. And I fear this will be hampered by the scaling issues currently affecting bitcoin. demand will increase if the coin is accepted as a currency like they are going to do in australia, because people will feel more secure to purchase something that is seen well by their government, after that merchants in australia will naturally accept bitcoin, and the adoption will grow, i think it's all about regulation, the regulation is the most important thing for a country to have better adoption Title: Re: Bitcoin treated as money in Australia from 1. july Post by: richardsNY on May 14, 2017, 04:37:24 PM Hopefully more countries would soon follow. More will follow. Countries just look and wait for other countries to set the first step. It will allow them to properly analyze/observe everything and see how the others are doing after a while. If they see no harm in walking the same path, one country after the other will do the same -- it has already started. Major point of importance is that the average joe will slowly forget about all negativity, and exactly that will contribute towards them slowly but surely adopting Bitcoin. I hope it will no longer be seen as the currency of the underworld. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: xIIImaL on May 14, 2017, 04:41:04 PM I've also read the same article and it is a great way to say that the world of bitcoin is slowly being recognized to some countries. Hopefully more countries would soon follow. After Craig Wright's confirmation about bitcoin. Australia Government has been so eager to adopt bitcoin in their country and bill also has passed there. South Korea also planning the bitcoin as legal there. I think US may fear about it. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: equator on May 14, 2017, 04:49:41 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.Taxas is estimated to have more inhabitants than Australia. How many of those 24 million of Australian citizens will be interested in BTC? 1/10 1/20? Probably less. What I am counting on here is the fact that increasing acceptability of cryptographic money will cause chain reaction and other nations will follow. What you said is correct population dont count but acceptance by a country and how efficiently it is going to workout will be counting it as it will be setting up the example by successfully implementing it and running it. So that other country will also follow their foot steps and start to accept bitcoin as payment and declare it as currency in their respecting country also. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: BitcoinPanther on May 14, 2017, 05:04:10 PM Not only will bitcoin be treated as money in Australia the double tax system which was imposed on the traders for goods and services will also be scrapped off! These are among other factors contributing to bitcoins growth great move Australia 8). The scrapping off of bitcoin tax will have a great impact in the development of bitcoin in Australia. We have seen how Bitcoin grow in Japan when the government declared that bitcoin is money followed by removing the consumption tax of Bitcoin, this hyped the market and boost the volume of Bitcoin trading in Japan. Definitely, the same result will happen to Australia. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: freebutcaged on May 14, 2017, 05:33:48 PM They know about the SW/BU debate hopefully? how can this current network capable of processing 5 transactions at max per second handles millions of transactions every day?
Is there any cryptography experts from any of the two mentioned countries to evaluate review and provide some serious technical ups and downs of SW/BU? I think even if the entire planet+martians and other aliens come and start using Bitcoin we'll still see the current drama over who should be the boss. Assuming legit TX count increases along with fees but do the miners know that people will not pay higher fees than paypal and other processors? Title: Re: Bitcoin treated as money in Australia from 1. july Post by: lilit on May 14, 2017, 05:36:16 PM They know about the SW/BU debate hopefully? how can this current network capable of processing 5 transactions at max per second handles millions of transactions every day? It seems to me that all this still just talk does not have some things worthy of proof, so that it would be possible to judge that Bitcoin will rise in some countries to a sufficiently high altitude.Is there any cryptography experts from any of the two mentioned countries to evaluate review and provide some serious technical ups and downs of SW/BU? I think even if the entire planet+martians and other aliens come and start using Bitcoin we'll still see the current drama over who should be the boss. Assuming legit TX count increases along with fees but do the miners know that people will not pay higher fees than paypal and other processors? Title: Re: Bitcoin treated as money in Australia from 1. july Post by: dothebeats on May 14, 2017, 06:02:40 PM Hopefully before July 1st, we would be seeing some decisions about the SegWit - BU clash. The way the system works right now is kinda absurd, knowing that the number of unconfirmed transactions RIGHT NOW is 78000+ and growing. By then, how could the network possibly handle a volume of probably million transactions every day? It's kinda sadenning that every time something good happens in adoption, a far greater problem is present in the protocol itself.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: CyberKuro on May 14, 2017, 07:58:41 PM Those countries have done and create a better support for bitcoin environment to enhances business relate to cryptocurrency which is very helpful for us. Treated bitcoin as a currency maybe still not suitable for merchants demands where they have to wait for a long time to get a confirmed transaction. If bitcoin cannot scalable, then it's destiny to become as a store of value.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: alyssa85 on May 14, 2017, 08:00:57 PM Does this new law apply just to bitcoin, or to all digital and cryptocurrencies?
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: ananas99 on May 14, 2017, 08:26:12 PM Those countries have done and create a better support for bitcoin environment to enhances business relate to cryptocurrency which is very helpful for us. Treated bitcoin as a currency maybe still not suitable for merchants demands where they have to wait for a long time to get a confirmed transaction. If bitcoin cannot scalable, then it's destiny to become as a store of value. This will benefit all bitcoin users. Many people meet this news with suspicion.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: TheGodFather on May 15, 2017, 01:25:49 AM This is wonderful news. Along with Japan, Australia seems to be taking the lead in recognizing the potential of Bitcoin. Other countries, who have adopted a wait and watch approach, could learn from Australia. yes if im not mistaken , japan first introduces bitcoin as one of the accepted currency in their country, im just suprise that the eastern countries started to accept bitcoin as one of the accepted currency, hoping that many countries will follow so that we are free to use it without problems when we need to buy our goods, but i hope that government will not put a high tax on our transactions. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: iamTom123 on May 15, 2017, 05:58:56 AM Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process. Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies. They can now tax people who are getting income from Bitcoin transactions in a form of income. I am sure that people in those nations mentioned are required to declare all the income they got the previous year and that can definitely include Bitcoin when bought and sold. Japan, South Korea and this time Australia would benefit most with this development. And, of course, we can see spikes on Bitcoin value soon as we already experienced it now because of Japan. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: pinkflower on May 15, 2017, 07:54:32 AM Hopefully before July 1st, we would be seeing some decisions about the SegWit - BU clash. The way the system works right now is kinda absurd, knowing that the number of unconfirmed transactions RIGHT NOW is 78000+ and growing. By then, how could the network possibly handle a volume of probably million transactions every day? It's kinda sadenning that every time something good happens in adoption, a far greater problem is present in the protocol itself. I dont think we matter. So theres nothing we can say that will change things. You can sell all your BTC and it wont matter because most of us dont run nodes, dont mine and dont develop code improvements for the protocol. We are here holding BTC and hoping to make a lot of money out of it. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: gandame on May 15, 2017, 12:54:34 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Am not read it but its a great one because of that now some countries accepting bitcoin as a currency. Now i think Australia is the third country that accepting bitcoin. Hope also in our country to adopt bitcoin as a currency. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Mvaporis1961 on May 17, 2017, 04:40:44 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? What a good new indeed! Another country have now joined Bitcoin and soon there will be more others to follow this rising trend and Bitcoin needs to improve itself also to get ready for this because this surely is a big one to happen before the year ends. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Kakmakr on May 17, 2017, 06:45:54 AM Hopefully before July 1st, we would be seeing some decisions about the SegWit - BU clash. The way the system works right now is kinda absurd, knowing that the number of unconfirmed transactions RIGHT NOW is 78000+ and growing. By then, how could the network possibly handle a volume of probably million transactions every day? It's kinda sadenning that every time something good happens in adoption, a far greater problem is present in the protocol itself. I dont think we matter. So theres nothing we can say that will change things. You can sell all your BTC and it wont matter because most of us dont run nodes, dont mine and dont develop code improvements for the protocol. We are here holding BTC and hoping to make a lot of money out of it. This is the way Bitcoin was designed, there will always be some people doing the mining and some people running full nodes and then normal users that use Bitcoin. Satoshi even predicted mining farms and centralization, when only data centers and big mining giants will be making the calls in the future. < The secret to the success, is not having 1 single entity doing all the mining, but a bunch of different pools doing this > You can still mine in a mining pool and you can still run a node if you can afford it. ^smile^ If one government dumps a lot of money into Bitcoin mining, most of these smaller giants will be destroyed, but they are buying weapons of mass destruction for trillions of dollars. ^Woop^ Title: Re: Bitcoin treated as money in Australia from 1. july Post by: deisik on May 17, 2017, 04:27:55 PM Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process. Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies. They can now tax people who are getting income from Bitcoin transactions in a form of income. I am sure that people in those nations mentioned are required to declare all the income they got the previous year and that can definitely include Bitcoin when bought and sold. Japan, South Korea and this time Australia would benefit most with this development. And, of course, we can see spikes on Bitcoin value soon as we already experienced it now because of Japan I still can't grasp how this would actually facilitate Bitcoin adoption Okay, as I got it, the Aussie government decided to cancel some tax called GST (short for goods and services tax) levied on bitcoins bought and sold starting 1st of July this year. That would allow to avoid double taxation, that's nice indeed. But Australia is a small country in terms of population as well as economy (compared to Japan, EU or US), and they are cancelling something which other countries simply didn't have right from the start (say, the EU). So how is that actually going to help Bitcoin apart from the usual hype and hysteria which typically come along with such events? Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Oralmat on May 18, 2017, 05:12:03 AM Yeah, i have listen, but only in this forum, people discuss with each other, than i know about it. But if it will come true, than this way will be helpful for bitcoin publicity, and bitcoin will be go in a new way, where different countries will be come to use the bitcoin as a money in their countries. Than may be within 5 years, my country also will adopt the bitcoin as a currency and in this way, it will be a really good news for me and my country's people.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: SHANTA on May 18, 2017, 09:28:01 AM This is an awesome news!
I trust that it is another chance to become wildly successful in exchanging in light of the fact that inside that July in the event that it occurs as expressed then we expect the cost of bitcoin to pump up and we that have sparing in bitcoin, it will be another chance to make benefit. BTC going on moon Title: Re: Bitcoin treated as money in Australia from 1. july Post by: frowsiter on May 18, 2017, 10:02:07 AM I am not sure about this topic but read some of the post replies and sounds just great about it. I am amazed how Australia have managed to get it as legit and public currency across its country. This will lead their government to be more careful about their own currency as bitcoin is far away costly and decentralised from local currency. What if people in there stops using local Australia currency and use only bitcoins? It can lead to disastrous effects on their local currency and dropping its value like crazy. The government may fall for it.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: ScriptYoYo on May 18, 2017, 10:10:25 AM If they take bitcoin, then its price will grow even more rapidly, which will greatly please all users. You need to store coins and wait for a positive result.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: pinkflower on May 19, 2017, 09:21:29 AM Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process. Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies. They can now tax people who are getting income from Bitcoin transactions in a form of income. I am sure that people in those nations mentioned are required to declare all the income they got the previous year and that can definitely include Bitcoin when bought and sold. Japan, South Korea and this time Australia would benefit most with this development. And, of course, we can see spikes on Bitcoin value soon as we already experienced it now because of Japan I still can't grasp how this would actually facilitate Bitcoin adoption Okay, as I got it, the Aussie government decided to cancel some tax called GST (short for goods and services tax) levied on bitcoins bought and sold starting 1st of July this year. That would allow to avoid double taxation, that's nice indeed. But Australia is a small country in terms of population as well as economy (compared to Japan, EU or US), and they are cancelling something which other countries simply didn't have right from the start (say, the EU). So how is that actually going to help Bitcoin apart from the usual hype and hysteria which typically come along with such events? Another question is do people in Australia really use BTC for goods and services for it to matter? I dont think they care about BTC apart from the speculaton most people in the community do. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Baofeng on May 19, 2017, 09:37:44 PM Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process. Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies. They can now tax people who are getting income from Bitcoin transactions in a form of income. I am sure that people in those nations mentioned are required to declare all the income they got the previous year and that can definitely include Bitcoin when bought and sold. Japan, South Korea and this time Australia would benefit most with this development. And, of course, we can see spikes on Bitcoin value soon as we already experienced it now because of Japan I still can't grasp how this would actually facilitate Bitcoin adoption Okay, as I got it, the Aussie government decided to cancel some tax called GST (short for goods and services tax) levied on bitcoins bought and sold starting 1st of July this year. That would allow to avoid double taxation, that's nice indeed. But Australia is a small country in terms of population as well as economy (compared to Japan, EU or US), and they are cancelling something which other countries simply didn't have right from the start (say, the EU). So how is that actually going to help Bitcoin apart from the usual hype and hysteria which typically come along with such events? Another question is do people in Australia really use BTC for goods and services for it to matter? I dont think they care about BTC apart from the speculaton most people in the community do. Well they defined it as "digital currency" by the Australian government. So I think bitcoin will fall in this category. That's why they will remove the double taxation on "digital currency". So I'm assuming Australians are using 'digital currency" to purchase items online. Its only more than a month from now before we see what the effects of Australian embracing bitcoin. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: willyum on May 20, 2017, 03:14:10 AM Does anyone here know the tax policy for cryptocurrency in Australia? I have investments in a few coins I have had since 2014 that I am preparing to sell soon. What sort of tax will I pay when converting them back to Aussie dollars?
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: roomfirst on May 20, 2017, 03:21:37 AM That's a big news for bitcoin. More countries that notice bitcoin will make the price of bitcoin become increase again and it will make other countries to think about bitcoin too. I also read that there is also no taxes for bitcoin.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: onrise on May 20, 2017, 03:23:56 AM This is good sign for Bitcoin as an particularly because many countries are still not able to treat and find the actual how to use Bitcoin. Well Australia decision may come as a boon for many country users who are looking to explore more other alternates in form of this currency . This will help other countries also to formulates rules and regulations as what Australia government has done for Bitcoin .
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Cazkys on May 20, 2017, 06:15:27 AM This is good sign for Bitcoin as an particularly because many countries are still not able to treat and find the actual how to use Bitcoin. Well Australia decision may come as a boon for many country users who are looking to explore more other alternates in form of this currency . This will help other countries also to formulates rules and regulations as what Australia government has done for Bitcoin . It's very a good sign and I think it's not just Australia that has adapted Bitcoin. Japan already started and China I think is starting for there own cryptocurrency. So why not, this is the new digital goods and a good thing to mine for there country. And in time I could see other countries making there own crypto currency and when that time comes most goods are now available online and transaction will go into the deep web that is untraceable. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: AK47- on May 20, 2017, 06:44:55 AM This is good sign for Bitcoin as an particularly because many countries are still not able to treat and find the actual how to use Bitcoin. Well Australia decision may come as a boon for many country users who are looking to explore more other alternates in form of this currency . This will help other countries also to formulates rules and regulations as what Australia government has done for Bitcoin . It's very a good sign and I think it's not just Australia that has adapted Bitcoin. Japan already started and China I think is starting for there own cryptocurrency. So why not, this is the new digital goods and a good thing to mine for there country. And in time I could see other countries making there own crypto currency and when that time comes most goods are now available online and transaction will go into the deep web that is untraceable. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: pinkflower on May 20, 2017, 06:58:43 AM Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process. Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies. They can now tax people who are getting income from Bitcoin transactions in a form of income. I am sure that people in those nations mentioned are required to declare all the income they got the previous year and that can definitely include Bitcoin when bought and sold. Japan, South Korea and this time Australia would benefit most with this development. And, of course, we can see spikes on Bitcoin value soon as we already experienced it now because of Japan I still can't grasp how this would actually facilitate Bitcoin adoption Okay, as I got it, the Aussie government decided to cancel some tax called GST (short for goods and services tax) levied on bitcoins bought and sold starting 1st of July this year. That would allow to avoid double taxation, that's nice indeed. But Australia is a small country in terms of population as well as economy (compared to Japan, EU or US), and they are cancelling something which other countries simply didn't have right from the start (say, the EU). So how is that actually going to help Bitcoin apart from the usual hype and hysteria which typically come along with such events? Another question is do people in Australia really use BTC for goods and services for it to matter? I dont think they care about BTC apart from the speculaton most people in the community do. Well they defined it as "digital currency" by the Australian government. So I think bitcoin will fall in this category. That's why they will remove the double taxation on "digital currency". So I'm assuming Australians are using 'digital currency" to purchase items online. Its only more than a month from now before we see what the effects of Australian embracing bitcoin. Its not good to assume. Its better if everything was based on facts not opinions or assumptions. But I agree with you that you that it needs more time. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: deisik on May 20, 2017, 03:54:46 PM Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process. Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies. They can now tax people who are getting income from Bitcoin transactions in a form of income. I am sure that people in those nations mentioned are required to declare all the income they got the previous year and that can definitely include Bitcoin when bought and sold. Japan, South Korea and this time Australia would benefit most with this development. And, of course, we can see spikes on Bitcoin value soon as we already experienced it now because of Japan I still can't grasp how this would actually facilitate Bitcoin adoption Okay, as I got it, the Aussie government decided to cancel some tax called GST (short for goods and services tax) levied on bitcoins bought and sold starting 1st of July this year. That would allow to avoid double taxation, that's nice indeed. But Australia is a small country in terms of population as well as economy (compared to Japan, EU or US), and they are cancelling something which other countries simply didn't have right from the start (say, the EU). So how is that actually going to help Bitcoin apart from the usual hype and hysteria which typically come along with such events? Another question is do people in Australia really use BTC for goods and services for it to matter? I dont think they care about BTC apart from the speculaton most people in the community do. Well they defined it as "digital currency" by the Australian government. So I think bitcoin will fall in this category. That's why they will remove the double taxation on "digital currency". So I'm assuming Australians are using 'digital currency" to purchase items online. Its only more than a month from now before we see what the effects of Australian embracing bitcoin And what makes Australia different from other countries? Especially those countries which didn't have these "double taxation" issues right from the start. The EU economy is times greater than the economy of that country and they always treated Bitcoin as just another currency, but somehow we don't see Bitcoin real trade booming in Europe. So why should that happen in Australia? The price will likely continue to surge but that would be mostly thanks to typical hype rather than real adoption of Bitcoin between merchants in Australia or elsewhere Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Pab on May 20, 2017, 06:59:56 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Yes i know that from my Australian contact on Twitter.Great news Australia is much more related to China than to Westerness world.Maybe we will have another btc hub there Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Mbokani on May 20, 2017, 11:28:02 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Yes i know that from my Australian contact on Twitter.Great news Australia is much more related to China than to Westerness world.Maybe we will have another btc hub thereTitle: Re: Bitcoin treated as money in Australia from 1. july Post by: bohr on May 20, 2017, 11:35:44 PM Whoa, first Japan, and now Australia? Now let's see if the price don't spike high. Governments surely took notice of the developments in bitcoin and decided they want to have some fun as well. That's why they are starting to come up with these regulations, maybe they're anticipating increased use in the future. This also will make it more familiar and trustworthy for regular people, making increased adoption a self-fulfilling process. Bitcoin slowly but surely is becoming more accepted as time passes, and I have no doubt this is just the beginning two countries on two different continents have approved bitcoin, 4 more to go.Governments would still definitely benefit without the tax. They'll probably get something from the exchanges anyway, not to mention money would likely flow into their economies. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: FlightyPouch on May 20, 2017, 11:54:34 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Yes i know that from my Australian contact on Twitter.Great news Australia is much more related to China than to Westerness world.Maybe we will have another btc hub thereTitle: Re: Bitcoin treated as money in Australia from 1. july Post by: tigershark on May 21, 2017, 01:23:35 AM This may be why the price of bitcoin is rising so much right now. I wonder if they treat other cryptocurrencies the same way.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Sled on May 21, 2017, 02:01:30 AM I also read the news about this and i think this is the start of the golden age of bitcoin because the countries around the world are starting to notice bitcoin as a money and also a good currency and they are now doing some great action like fully adopting it to their country and for sure those australian countrymen are so happy especially those who have bitcoins because they can finally spend it on the physical store.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: reuschman on May 21, 2017, 03:09:06 AM Wow. That's a great news for Bitcoin user. This is the starting of Bitcoin, hopefully, this process will be continued and so many countries will adopt Bitcoin as a money.
Today or tomorrow it will bring an evaluation regarding money sector, I'm eagerly waiting for that day.. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: bohr on May 25, 2017, 10:22:29 PM I also read the news about this and i think this is the start of the golden age of bitcoin because the countries around the world are starting to notice bitcoin as a money and also a good currency and they are now doing some great action like fully adopting it to their country and for sure those australian countrymen are so happy especially those who have bitcoins because they can finally spend it on the physical store. I agree, this seems like the beginning of a new era for bitcoin, finally it seems we are going to get our wish, the mass adoption of bitcoin and with it the price is going to skyrocket as well.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Invester on May 29, 2017, 05:17:11 PM I thought it already started there in Australia weeks ago. Well at least during the actual date of implementation we will be expecting another rise of prices.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Siren on May 29, 2017, 05:25:09 PM I thought it already started there in Australia weeks ago. Well at least during the actual date of implementation we will be expecting another rise of prices. It will start on July 1 mate. Although Australians are also into bitcoin past years I believed and embracing it will just put another approval from the government regarding the actual used of bitcoin. This is really a good news for everyone. A new cash will be going to the bitcoin ecosystem coming from the Australian markets. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: megynacuna on May 29, 2017, 07:09:50 PM This is great news however it doesn't mean as some people think that merchants will necessarily accept it. This will only happen if there is demand from the public for them to accept it. And I fear this will be hampered by the scaling issues currently affecting bitcoin. Even if the merchants would not readily accept it for their daily purchases of goods it can still be used to move huge sums of money out of Australia and vice versa. It'll better serve as a money transfer tool even if the scaling issues persist. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: stompix on May 29, 2017, 07:24:21 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Yes i know that from my Australian contact on Twitter.Great news Australia is much more related to China than to Westerness world.Maybe we will have another btc hub there Australia is related to China? In which way? Language... no it's English. Politics... no , sorry no single party there. Laws ... nope , western. Trade agreements again western world. Religion, again nothing. So what has Australia more in common with China than with Ireland or Canada for example? Title: Re: Bitcoin treated as money in Australia from 1. july Post by: L00n3y on May 31, 2017, 11:55:40 AM This is a good news to all of us, because australia is not just a country, it is a continent. Imagine a land with a scale like that and has a roughly 24 million population in 2015 will accept bitcoin as a payment. The demand will increase and the price will rise. Its a sign that we will start storing more bitcoin.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Kemarit on May 31, 2017, 12:53:01 PM This is a good news to all of us, because australia is not just a country, it is a continent. Imagine a land with a scale like that and has a roughly 24 million population in 2015 will accept bitcoin as a payment. The demand will increase and the price will rise. Its a sign that we will start storing more bitcoin. Obviously, the demand will increased once Australia considered bitcoin as legal tender. Look what happened when Japan embraced bitcoin, the price is dump and reaching almost $3000 before its collapse to $2200, but it still good though. And when Australia enter by July 1, I hope we will see the same scenario. Japan and Australia are two different nation, we don't know how Australians will react to it. Of course we all hope that they will go crazy like what the Japanese did, but Australians have different cultures. So it remains to be seen. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: qiwoman2 on May 31, 2017, 03:10:43 PM I believe this is a great idea to have more and more governments accepting and legalizing Bitcoin as many more may accept their wages in BTC and also more people will be able to pay their bills in Bitcoin too. Good luck to the Aussies in achieving this great milestone.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: iamTom123 on May 31, 2017, 03:25:57 PM This is actually another milestone in Bitcoin history. Now, if this means that there would be more demand of Bitcoin in Australia starting July 1st then we can be sure that this can somehow affect the price of Bitcoin. Together with the increasing demand of new markets like Japan and South Korea, I would not be surprised if this can push Bitcoin into the 3K territory.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: deisik on May 31, 2017, 04:41:43 PM This is a good news to all of us, because australia is not just a country, it is a continent. Imagine a land with a scale like that and has a roughly 24 million population in 2015 will accept bitcoin as a payment. The demand will increase and the price will rise. Its a sign that we will start storing more bitcoin. Obviously, the demand will increased once Australia considered bitcoin as legal tender. Look what happened when Japan embraced bitcoin, the price is dump and reaching almost $3000 before its collapse to $2200, but it still good though. And when Australia enter by July 1, I hope we will see the same scenario. Japan and Australia are two different nation, we don't know how Australians will react to it. Of course we all hope that they will go crazy like what the Japanese did, but Australians have different cultures. So it remains to be seen. You have to check your sources Neither Japan accepted nor Australia is going to accept Bitcoin as legal tender. That would be a real milestone that no country has been brave enough to set so far. In Japan, Bitcoin has been made equal to other foreign currencies like the US dollar or Euro, and we don't yet know what impact that will have on Bitcoin prices long term (when the dust finally settles and hype subsides eventually). In Australia, Bitcoin will be released from the burden of double taxation, basically it is to be treated like other foreign currencies. I don't know if it is actually going to add to Bitcoin popularity there (or anywhere) since, as some Aussie said here, Australia is a "Bitcoin desert" Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Hydrogen on May 31, 2017, 06:13:42 PM Will the price of BTC rise on july 1st due to increased trading volume & demand from australia? ???
Looking forwards to other countries becoming more involved with crypto to help mitigate chinese -> bitcoin unlimited attempts to centralize mining. I have no clue what the book "brave new world" is about. Many countries adopting crypto is looking like a "brave new world" to me. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Lancusters on May 31, 2017, 06:38:15 PM What will change from that recognized Australia or Japan bitcoin or not. The main thing is that it recognize the people. Many want the recognition of bitcoin on an official level, but I think that this will only lead to the fact that the government will officially take taxes from operations with bitcoins.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Rinder on June 03, 2017, 12:42:40 PM Its amazing news, knowing another country is joining crypto world, not only bitcoin, sure taxes will come with legalization, but bitcoin will be exposed to several new people that can invest and join crypto world, i do hope more coins does the same, and well we will keep being able to trade without pay the taxes, but imagine you be able to get a loan in the bank to invest over crypto world? Something you can do but hide the real interest under the loan.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Xester on June 03, 2017, 05:40:35 PM If that is true then good for the bitcoin holders on down under. ;D. Wish that the news that you read came from a legitimate source not a fake news. But if they will not be taxed, then what will happen to products or establishments that will not be using bitcoins? Will the government of Australia will allow this thing to happen? Many questions still but maybe if the news is true I think they already reviewed and studied anything and everything about bitcoins.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: The_Dark_Knight on June 04, 2017, 03:13:50 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Definitely this is another great news for bitcoin, I haven’t heard of it but it seems the rate of adoption and acceptance of bitcoin is slowly accelerating it seems 2017 it is really going to be the year of bitcoin and I cannot help but wonder what is next in this year.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: findingthemoon on June 04, 2017, 03:18:11 AM More and more countries are going to follow suit, Australia is not going to be the last and eventually it will be treated similarly as a foreign currency in nearly all countries. This is the future.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: deisik on June 04, 2017, 07:45:58 AM Will the price of BTC rise on july 1st due to increased trading volume & demand from australia? ??? What makes you think that trading volume and demand are going to increase there in the first place? If they are, then Bitcoin price will certainly rise (as per simple supply and demand relationship), but I don't think that the demand for bitcoins is actually going to rise specifically thanks to more people buying more bitcoins in Australia. My reasoning is pretty simple, Bitcoin is not and hasn't been banned in that country, so we shouldn't in fact expect a run for bitcoins there. The price could rise due to hype, but all stores of hype seem to have already been depleted due to Japan legalizing Bitcoin first Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Mr on June 04, 2017, 08:36:45 AM thanks Australia for supporting bitcoin. Thanks the Australian for using bitcoin more widely in the real world. Japan will soon join our force and bitcoin will become the strongest currency in this planet
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: gabmen on June 04, 2017, 09:30:50 AM This is a good sign and if this is true, we may well be seeing another big surge in btc price next month. It seems more countries now are becoming interested in adopting btc now and it can only go better from here. It's high time to save on those btcs guys :)
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: ethereumhunter on June 04, 2017, 11:30:34 AM i am glad to hear this news and one more big country is supporting and accepting bitcoin for their people so the people that lived in australia can used bitcoin with free. this will give another impact for bitcoin community and i am sure the other country will follow this so the chance for bitcoin to be accepted in many country is wide open.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: phr0stbyt3 on June 05, 2017, 01:18:01 AM Damn so much has happened this year. Which japan , now even Australia and there are rumours that even russia is preparing for bitcoin in their country. This is probably the best year for bitcoin in terms of recognition around world . I just all the new countries adopting doesn't to lead further transaction stuck
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Oilacris on June 05, 2017, 05:05:38 AM Damn so much has happened this year. Which japan , now even Australia and there are rumours that even russia is preparing for bitcoin in their country. This is probably the best year for bitcoin in terms of recognition around world . I just all the new countries adopting doesn't to lead further transaction stuck I agree on what you have said when talking about a certain country does accept bitcoin then this year is the best since they are already recognizing bitcoin and does really see some potential on accepting it on its country which means theres more demand and this thing will really affect its value and increase even more.I will watch closely on July 1 if this adoption would happen.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: gabbie2010 on June 05, 2017, 06:19:21 AM Australia adoption of bitcoin as a money has significant impart to both it's citizens and their government, This reduce government borrowing money, control inflation,increase government reserve and brings about good government policy considering the fact that bitcoin is technological based virtual currency. come July 1 we hope to see a price movement of bitcoin higher.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: enhu on June 05, 2017, 06:31:11 AM Japan has really started making th adoption to countries and I guess we from asia are one of the users who gets to have the benefits. Australia is one of the country with huge ecomony, huge rewards for those who holds.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: The_Dark_Knight on June 07, 2017, 06:55:07 AM Australia adoption of bitcoin as a money has significant impart to both it's citizens and their government, This reduce government borrowing money, control inflation,increase government reserve and brings about good government policy considering the fact that bitcoin is technological based virtual currency. come July 1 we hope to see a price movement of bitcoin higher. Australia is only accepting bitcoin as a currency it is not adopting it as their currency, big difference, so this is not going to do anything about the Australian government borrowing money or to control inflation, it will benefit those that use bitcoin, nothing more.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: buharikx31 on June 07, 2017, 09:18:35 AM Australia adoption of bitcoin as a money has significant impart to both it's citizens and their government, This reduce government borrowing money, control inflation,increase government reserve and brings about good government policy considering the fact that bitcoin is technological based virtual currency. come July 1 we hope to see a price movement of bitcoin higher. Australia is only accepting bitcoin as a currency it is not adopting it as their currency, big difference, so this is not going to do anything about the Australian government borrowing money or to control inflation, it will benefit those that use bitcoin, nothing more.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: bct_ail on June 07, 2017, 11:09:28 AM One reason more for me to move to Australia. It is so strange, that the EU is just at the beginning to understand the advantage of Bitcoin, Altcoins and the blockchain. Very sad.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: GG_monster on June 07, 2017, 11:13:45 AM It's a good news. Acceptance bitcoin will increase the number of users and contribute to its growth that will bring even greater profits to investors.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: fanbeila on June 07, 2017, 12:11:36 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Hypnosis00 on June 07, 2017, 01:27:56 PM I hope other countries will also the same like the Australia treat bitcoin because it will help a lot of people to get in bitcoin and also promote bitcoin that can change someone's life without putting a lot of effort like in the usual jobs or sources of income in the real world.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: The_Dark_Knight on June 09, 2017, 01:43:49 AM One reason more for me to move to Australia. It is so strange, that the EU is just at the beginning to understand the advantage of Bitcoin, Altcoins and the blockchain. Very sad. That would seem so, but as far as I know Australia is a very expensive country to live in, personally I will wait until a third world country with a strong enough government decides to accept bitcoin that way you will get the benefits of bitcoin and of a cheap country.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: carlisle1 on June 09, 2017, 07:19:14 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.I think not all people in Australia are being updated with this new so maybe this will be really an incredible news but only for Australians who already know bitcoin I guess, there will be a massive adoption if bitcoin will be introduced to the public by many people or merchants who are already using and accepting bitcoin at least in a way that the public will get curious . Title: Re: Bitcoin treated as money in Australia from 1. july Post by: arwin100 on June 09, 2017, 07:23:46 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.I think not all people in Australia are being updated with this new so maybe this will be really an incredible news but only for Australians who already know bitcoin I guess, there will be a massive adoption if bitcoin will be introduced to the public by many people or businesses who are already using bitcoin . Guess your right with that since not all people are updated to new technologies and digital assets, But for this acceptance/threating acts well this can give a good boost to bitcoins to get more acceptance and accumulate high demands in future and im so sure that the domino effect of this will be the high leap of the price of the history, And surely people will love this one since bitcoins has no tax deduction if people will stake and use it. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Blamsud on June 09, 2017, 09:19:34 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.I think not all people in Australia are being updated with this new so maybe this will be really an incredible news but only for Australians who already know bitcoin I guess, there will be a massive adoption if bitcoin will be introduced to the public by many people or businesses who are already using bitcoin . Guess your right with that since not all people are updated to new technologies and digital assets, But for this acceptance/threating acts well this can give a good boost to bitcoins to get more acceptance and accumulate high demands in future and im so sure that the domino effect of this will be the high leap of the price of the history, And surely people will love this one since bitcoins has no tax deduction if people will stake and use it. Its a good move that btv were accepted in different countries and it does offer good opportunity not just in their people but for country too. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: equator on June 09, 2017, 09:25:40 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.I think not all people in Australia are being updated with this new so maybe this will be really an incredible news but only for Australians who already know bitcoin I guess, there will be a massive adoption if bitcoin will be introduced to the public by many people or businesses who are already using bitcoin . Guess your right with that since not all people are updated to new technologies and digital assets, But for this acceptance/threating acts well this can give a good boost to bitcoins to get more acceptance and accumulate high demands in future and im so sure that the domino effect of this will be the high leap of the price of the history, And surely people will love this one since bitcoins has no tax deduction if people will stake and use it. Its a good move that btv were accepted in different countries and it does offer good opportunity not just in their people but for country too. Ya it is a good news but the population of Australia is very less and i dont think that users impact will be not much on bitcoin but the impact will be that a country is accepting bitcoin as currency. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: boyptc on June 09, 2017, 09:33:56 AM I hope other countries will also the same like the Australia treat bitcoin because it will help a lot of people to get in bitcoin and also promote bitcoin that can change someone's life without putting a lot of effort like in the usual jobs or sources of income in the real world. More good bitcoin related news to come after the adoption of these countries. First Japan and others followed I'm having a very optimistic mind that for the next months we'll see bitcoin's price going up. And we will not be having anymore problems when you want to order a good offshore if you want to pay it with bitcoin. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: lovesybitz on June 09, 2017, 10:11:49 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Wow! another great news again if that happen, bitcoin will surely rise again. Just recently, that Japan declared bitcoin as their legal currency to their country, and awhile ago is China do the same thing to make bitcoin as their legal currency also. I can't wait to make that happen which is July 1, 2017.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: marcbitcoins on August 14, 2017, 06:49:17 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Wow! another great news again if that happen, bitcoin will surely rise again. Just recently, that Japan declared bitcoin as their legal currency to their country, and awhile ago is China do the same thing to make bitcoin as their legal currency also. I can't wait to make that happen which is July 1, 2017.If this is true then this is another victory or great achievements for bitcoin history. Like credir cards or cashcards it is very safe to bring bitcoins pin numbers than cash or money in the street. Now a days more bad guys are now roaming in the street like pickpocket or holdup so in bitcoins you will not easily loss your hard earned money. Congrats to the Australian if that is true. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: helloicon on August 17, 2017, 07:24:38 AM Besides Japan, Austrailia will open the new era of making criptocurrency much closer in our society.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: coinstalker23 on August 17, 2017, 10:03:05 AM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Its a good news. Im wondering when will it be recognize as a legal currency in my counrtry. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: joseafonso123az on August 17, 2017, 10:26:11 AM Great news for Australia and for the world. This will set a new trademark in bitcoin era, and if more countries adhere, thinking of bitcoin as a currency, or atleast as a foreign currency, it's really new. Australia have always been a country that supports new things, and hopefully this would make others realize that bitcoin is not that bad after all.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: rodskee on August 17, 2017, 10:39:07 AM wow thats good news bitcoin treated as money in australia i think have a big possibilities the bitcoin treated also as money in the other country follow the good decision of australian government to help the economy of the country using bitcoin as decentralized currency.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: olubams on August 17, 2017, 10:45:43 AM And seventeen days since the beginning of August which is even 1 month after the purported acceptance of bitcoin in Australia, yet I have not read anything about the confirmation of the news or a release from government that this is exactly the direction of what is going on. Like I always maintained, news like this are only meant for speculative purposes and nothing else.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Zeke_23 on August 17, 2017, 02:00:50 PM Great news for Australia and for the world. This will set a new trademark in bitcoin era, and if more countries adhere, thinking of bitcoin as a currency, or atleast as a foreign currency, it's really new. Australia have always been a country that supports new things, and hopefully this would make others realize that bitcoin is not that bad after all. that's right, maybe in a few months from now it will be adapted by some other countries until it officially be considered as money in all over the world, i cant wait to see it for myself especially in my country. they can see the full potential of bitcoin.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: deisik on August 17, 2017, 02:19:56 PM And seventeen days since the beginning of August which is even 1 month after the purported acceptance of bitcoin in Australia, yet I have not read anything about the confirmation of the news or a release from government that this is exactly the direction of what is going on. Like I always maintained, news like this are only meant for speculative purposes and nothing else I second this view Obviously, even if there was a news about Australia legalizing Bitcoin, it must have been quickly forgotten and abandoned in favor of giving more space to the whole showdown between different groups involved in Bitcoin that we had seen in July. That said, we, nevertheless, shouldn't completely discard the effect of Japan legalizing Bitcoin (another such news). Indeed, it was hyped then beaten to death, but the real effect seems to be still present, and it kinda looks the prices of over 4,000 dollars per coin that we see today are at least partially due to this event plus SegWit activation (and hype thereof) Title: Re: Bitcoin treated as money in Australia from 1. july Post by: TravelMug on August 17, 2017, 02:24:50 PM And seventeen days since the beginning of August which is even 1 month after the purported acceptance of bitcoin in Australia, yet I have not read anything about the confirmation of the news or a release from government that this is exactly the direction of what is going on. Like I always maintained, news like this are only meant for speculative purposes and nothing else. I think we have expected too much of Australia adopting bitcoin. I think we have picture them similar to what Japan did when they legalized it. Price surge, trading volume is up and everything falls into the right places. But with Australia, its a different thing, not much impact so say the least. Only news I saw is about strengthening the country's Anti-Money Laundering And Counter Terrorism Financing Act which of course includes bitcoin. Although this is still a welcoming news for us when Australia started to adopt the bitcoin. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Gaaara on August 17, 2017, 03:31:57 PM And seventeen days since the beginning of August which is even 1 month after the purported acceptance of bitcoin in Australia, yet I have not read anything about the confirmation of the news or a release from government that this is exactly the direction of what is going on. Like I always maintained, news like this are only meant for speculative purposes and nothing else. I think we have expected too much of Australia adopting bitcoin. I think we have picture them similar to what Japan did when they legalized it. Price surge, trading volume is up and everything falls into the right places. But with Australia, its a different thing, not much impact so say the least. Only news I saw is about strengthening the country's Anti-Money Laundering And Counter Terrorism Financing Act which of course includes bitcoin. Although this is still a welcoming news for us when Australia started to adopt the bitcoin. It is indeed a big step for a country to adopt bitcoin but the nothing will change even though it is accepted as money, unless every country treats it as real currency that can be used for everyday basis, actually it can be full adopted by all but the price and being anonymous is affecting the adoption of bitcoin, but as soon as everything is fixed we can assure that bitcoin can be used on daily basis, but the problem is it is not needed to be fixed and that is the reason why world is trying to find a solution for it to be official worldwide currency. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Aventhe on August 17, 2017, 08:21:46 PM I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this? Wow, this is certainly good news. However, I have also not been able to find any official statements about this from any major websites or government release papers. If this is true, it is certainly a good thing to be done and I really hope other countries will follow this example. It certainly looks like the world is changing towards a unified currency that can be used across all countries, and changes like this are the first piece of the puzzle to making this come true. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Slark on August 17, 2017, 08:37:16 PM Wow, this is certainly good news. However, I have also not been able to find any official statements about this from any major websites or government release papers. If this is true, it is certainly a good thing to be done and I really hope other countries will follow this example. That is because Bitcoin is still no legalized in Australia and we can still only speculate of the final term of legalization.It certainly looks like the world is changing towards a unified currency that can be used across all countries, and changes like this are the first piece of the puzzle to making this come true. I've searched to see if there are any solid sources of info about Australian Legalization and it seems that this article is the best clue we have: https://themerkle.com/australia-may-fully-legalize-bitcoin-if-bipartisan-proposal-is-approved/ (https://themerkle.com/australia-may-fully-legalize-bitcoin-if-bipartisan-proposal-is-approved/) Title: Re: Bitcoin treated as money in Australia from 1. july Post by: RedX on August 18, 2017, 03:19:52 AM Bitcoin accepted not by a country but by a continent is really a big news for bitcoin. Australia has a very good economy and it's effect on bitcoin is going to be very positive. All their neighbor countries will surely follow this trend.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: PedroLinh on September 28, 2017, 11:09:15 AM At the Blockchain NZ conference held in Auckland, New Zealand earlier this week, Bitcoin and security expert Andreas Antonopoulos emphasized the Australian government’s uninvolvement in its local Bitcoin market and the impact of such actions on Bitcoin businesses and exchanges.
More to that, Antonopoulos criticized the local government’s taxation policy on Bitcoin, which essentially drove away businesses and users from Australia to other countries Governments can choose to either do nothing – which is okay, make things worse for cryptocurrency trading – like what Australia did by imposing sales taxes on all cryptocurrency transactions, or they can make things easier for companies by reining in the banks and encouraging companies by creating a level playing field Title: Re: Bitcoin treated as money in Australia from 1. july Post by: xSkylarx on September 28, 2017, 11:26:33 AM I have some friends from Australia and for them it is very convenient for them to use bitcoin to do transaction and buy things from small amount of stores in their country and that is why people are getting more into bitcoin because of that ease in doing things. If other countries will do the same then they might experience the same result.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: ekoice on September 28, 2017, 12:06:33 PM Yes,bitcoin would be treated as money in australia.The government had announced that it would do all things to make easier for digital currency businesses to operate in australia.Australians were paying two times taxes for bitcoin when buying in a exchange and when buying any products using bitcoins.Now,government has announced that there is no need to pay taxes when buying bitcoins from an exchange or trading platforms.It has decided to take steps to prevent local banks from denying banking services to bitcoin businesses and exchanges.Such steps would definitely help for progress of bitcoin related industries in australia.
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: btcprospecter on September 28, 2017, 01:44:40 PM As more and more countries start to embrace the digital age we live in it will be even easier for bitcoin and other coins to emerge to the forefront. Old paper currency has to change and with that will come a change in the way we control our own currency
Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Palmerson on September 28, 2017, 02:06:47 PM As more and more countries start to embrace the digital age we live in it will be even easier for bitcoin and other coins to emerge to the forefront. Old paper currency has to change and with that will come a change in the way we control our own currency I hear news like this constantly but no real steps for the legalization of bitcoin there. In fact, governments are not profitable to legalize cryptocurrency. They don't know how to take taxes from the users but it does not recognize it. That's their whole insidious psychology. Bitcoin is the people's property and legalization can only do harm.Title: Re: Bitcoin treated as money in Australia from 1. july Post by: Don Pedro Dinero on September 28, 2017, 02:19:08 PM Wow, this is certainly good news. However, I have also not been able to find any official statements about this from any major websites or government release papers. If this is true, it is certainly a good thing to be done and I really hope other countries will follow this example. That is because Bitcoin is still no legalized in Australia and we can still only speculate of the final term of legalization.It certainly looks like the world is changing towards a unified currency that can be used across all countries, and changes like this are the first piece of the puzzle to making this come true. I've searched to see if there are any solid sources of info about Australian Legalization and it seems that this article is the best clue we have: https://themerkle.com/australia-may-fully-legalize-bitcoin-if-bipartisan-proposal-is-approved/ (https://themerkle.com/australia-may-fully-legalize-bitcoin-if-bipartisan-proposal-is-approved/) I think this article is good as well: https://www.ft.com/content/4cd5cc3c-8309-11e7-a4ce-15b2513cb3ff?mhq5j=e5 I don’t think we can just speculate on the outcome. What seems to be happening is that there has been a proposal to regulate cryptocurrencies, especially to fight money-laundering, and the it still has to pass some legal steps. The proposal comes from the Liberal and Labor parties and there is nothing in the articles that makes me think it won’t be finally approved. However, I don’t know much about Australian politics so I don’t know if it is enough with the votes from both parties to pass all the stages. It would be interesting if someone from Australia could enlighten us. Anyway, we will know in the future. As more and more countries start to embrace the digital age we live in it will be even easier for bitcoin and other coins to emerge to the forefront. Old paper currency has to change and with that will come a change in the way we control our own currency I hear news like this constantly but no real steps for the legalization of bitcoin there. In fact, governments are not profitable to legalize cryptocurrency. They don't know how to take taxes from the users but it does not recognize it. That's their whole insidious psychology. Bitcoin is the people's property and legalization can only do harm.I think both articles make pretty clear that there are real steps for legalizing bitcoin there. Title: Re: Bitcoin treated as money in Australia from 1. july Post by: marjoree on October 05, 2017, 09:08:37 AM Wow! This is totally cool. One of the great news. This is another milestone for Bitcoin. Regarding this, it could be a way for advertising to other country that allowing bitcoin means that the capability of paper money could be done with this too but more accessible :)
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