Australia Says Bitcoin is Money – Japan says Bitcoin can’t be owned

[OrientA]

I think itll be a while before bicoin is got a real value attached to it.

Even today, bitcoin has some value attached to it. The price of each coin is $380. It means it is worth $380 in the market. You can also use bitcoin to buy things online or in some shops. You can buy digital goods in BitcoinTalk forum. The usage of bitcoin will spread widely and its value will increase as a result.

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[bob123]

Each Country may have its own view on it.
But it doenst change the fact that BTC is and will be the Decentralized and Userfriendly currency no.1.
(At least until some big bad things happen (eventually)..)

[OzbigG]

Well the Australian tax office doesn't actually recognize bit coin as currency but it is considered similar to bartering.  If you are making an income from it you need to pay on it.
  https://www.ato.gov.au/General/Gen/Tax-treatment-of-crypto-currencies-in-Australia---specifically-bitcoin/

[calkob]

I love how Bitcoin dosen't care what regulators say..... Bitcoin marches on anyway........

When Bitcoin goes mainstream they'll come round .... hahahaha

[BigBoy89]

I love how Bitcoin dosen't care what regulators say..... Bitcoin marches on anyway........

When Bitcoin goes mainstream they'll come round .... hahahaha

Yes that's the bottom line and the best thing is nowadays Bitcoin is getting more and more popular it's a new revolution and bankers will be the losers if Bitcoin goes mainstream that's why they are trying to create hurdles for Bitcoin using regulatory as tools.

[Snorek]

I love how Bitcoin dosen't care what regulators say..... Bitcoin marches on anyway........

When Bitcoin goes mainstream they'll come round .... hahahaha

If you think it will be easy for bitcoin in the future to retain current unrestricted status quo. Bitcoin is rather insignificant side currency exchange market now in the best case.
In the future - if we grow bigger - situation might change as I don't believe that government will let bitcoin be unregulated the way it is now.

[greg_hill17]

thank you, nice topic

[Nomad88]

I love how Bitcoin dosen't care what regulators say..... Bitcoin marches on anyway........

When Bitcoin goes mainstream they'll come round .... hahahaha

Yes that's the bottom line and the best thing is nowadays Bitcoin is getting more and more popular it's a new revolution and bankers will be the losers if Bitcoin goes mainstream that's why they are trying to create hurdles for Bitcoin using regulatory as tools.

Nicely put.

[Cresciuanto]

i think both have given the right statement about the bitcoin. i think there is not wrong to say that bitcoin is a money of course we are using is as a fiat currenc. and it is also a fact that no one can say that he invented the bitcoin therefore it is his property. it is the property of the person who earn it.

[Superbitzz]

i think both have given the right statement about the bitcoin. i think there is not wrong to say that bitcoin is a money of course we are using is as a fiat currenc. and it is also a fact that no one can say that he invented the bitcoin therefore it is his property. it is the property of the person who earn it.

as we can saw that fiat money or currency of a state is the property of state. and one can use it and hold it with in the boundries of this state but if we want to use the currency out side of the state he has to pay tax on that. but in case of bitcoin the situation is something different. here is a currency of the world and one can use it any where in world but no one can claim that he discover it therefore it is his property.

[patronis]

I love how Bitcoin dosen't care what regulators say..... Bitcoin marches on anyway........

When Bitcoin goes mainstream they'll come round .... hahahaha

If you think it will be easy for bitcoin in the future to retain current unrestricted status quo. Bitcoin is rather insignificant side currency exchange market now in the best case.
In the future - if we grow bigger - situation might change as I don't believe that government will let bitcoin be unregulated the way it is now.

If bitcoin gets bigger then every government is going to want to tax it. Governments live off of tax and when they decide that BTC is worth the trouble of passing regulations for, that's exactly what they'll do.

[abugseuf]

I love how Bitcoin dosen't care what regulators say..... Bitcoin marches on anyway........

When Bitcoin goes mainstream they'll come round .... hahahaha

If you think it will be easy for bitcoin in the future to retain current unrestricted status quo. Bitcoin is rather insignificant side currency exchange market now in the best case.
In the future - if we grow bigger - situation might change as I don't believe that government will let bitcoin be unregulated the way it is now.

If bitcoin gets bigger then every government is going to want to tax it. Governments live off of tax and when they decide that BTC is worth the trouble of passing regulations for, that's exactly what they'll do.

yes and both are in position to impose tax on bitcoin. if we consider it as money we have to pay income tax and if it is the property then we also have to pay tax. now its up to them that what are they going to consider it.

[Gahs]

It's hard to believe China and Japan are neighbors. They certainly have different views about bitcoins: China is one of the major supporters of bitcoins in the world, while Japan seems... I don't know.

[PsursV]

People who know how the world works know Japan is really a vassal state to America. Economically if they oppose Bitcoin it's cause they have been told to by their superiors.

Japan is a vassal state of the USA (like other countries such as United Kingdom, Germany, and Canada), but the decision against Bitcoin doesn't have anything to do with the Americans. If it was so, then the Americans should have banned Bitcoins in the United States first. This particular decision was solely linked to the Mt Gox scandal.

yes that is a fact that America is no decision against bitcoin because america has not yet banned their users from using bitcoin, i think America is also calm in this issue, i think they still no feel the need to give any statement in favour or against bitcoin.

[Universat]

I love how Bitcoin dosen't care what regulators say..... Bitcoin marches on anyway........

When Bitcoin goes mainstream they'll come round .... hahahaha

If you think it will be easy for bitcoin in the future to retain current unrestricted status quo. Bitcoin is rather insignificant side currency exchange market now in the best case.
In the future - if we grow bigger - situation might change as I don't believe that government will let bitcoin be unregulated the way it is now.

If bitcoin gets bigger then every government is going to want to tax it. Governments live off of tax and when they decide that BTC is worth the trouble of passing regulations for, that's exactly what they'll do.

i think it is good if a country is putting  tax on bitcoin. because it mean that the stage is going  to consider it as a legal currency and the people of that country will be free to use bitcoin to trade or invest it legally. it will be really a good progress in the world of bitcoin.

[Sharma]

It doesn't matter what the governments say what bitcoin is. Bitcoin is what it is and it can't be changed, it is a decentralized cryptocurrency  in Australia, Japan , USA etc

Agree.We do not need governments to define or categorised bitcoin for us.Bitcoin is and will always be what it is and it was.Nothing is going to change it

[YTBitcoin]

I agree with the statement of Australia, bitcoin is really money it is just another currency like other currencies of the world, and in one sense Japan is also right, bitcoin cannot be owned, and the really is clear we all are seeing that there is no one who are the owner of bitcoin even Satoshi are unable to own it. only those are the owners who hold them

[eshaal.khan]

The Japanese are not very fond of Bitcoin right now, after the bad publicity generated as a result of the Mt Gox scandal. It takes just a single person (Mark Karpeles in this occasion) to destroy the hard work done by tens of thousands of people. The Japanese citizens accounted for somewhere around 15% to 20% of all the Bitcoin losses due to the Mt Gox scandal.

Good answer but may there will be some problems or issues thats why japan says bitcoin cant not be owned.

[kryptqnick]

It's funny how depending on the country you are, Bitcoin is a thing or another, but at the end of the day the algorithm and the way it works will still work exactly the same in Australia, Japan or Mars. Thats the beauty of Bitcoin and it shows how kinda dumb it is to try to regulate it.

I agree. Bitcoin is sort of universal and only our views on it differ. Just like with mathematics which was thought to be a priori true knowledge amongst many philosophers but early Husserl, for example, viewed it as based on our psychological laws, so like 2+3=5 was the same as 2pounds+3pounds=5pounds.
So, we can say bitcoin is a currency, property, ponzi scheme thing but the work of the btc itself will be absolutely the same.

[boyshx]

the govt of my country considers Bitcoin a currency, an asset or a fraudulent internet thing, depending on what's convenient in the moment they may change their mind.