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Wary
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September 08, 2015, 10:06:56 AM |
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Bitcoin has already been classfied as VAT exempt in multiple tax jurisdictions , don't go expecting anyone to classify it as a VATable.
In Australia bitcoin is currently VATable.  New Zealand haven't decided yet, but it often follows their Aussie neighbor. I believe that's no longer correct. (I think it may have changed fairly recently, to be fair - I seem to remember Australia being fairly hostile to Bitcoin until recently, and it may well have been subject to GST/VAT in the past). Their previous position was: bitcoin is not money, but goods, therefore exchanges have to pay GST(=VAT) as on goods, i.e. 10% of sales volume. If I understand the text of your link correctly, now exchanges have to pay these 10% not on sales volume, but on profit only. Which is very good news indeed. |
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findftp
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Activity: 1022
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Delusional crypto obsessionist
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September 08, 2015, 10:08:16 AM |
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What's driving this rally?
Greed, supply and demand. |
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coinpr0n
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September 08, 2015, 10:28:41 AM |
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What's driving this rally?
Greed, supply and demand. Agreed. It looks like (for now) Bitcoin is following the markets - perhaps a surprising thing, but it's been doing so lately. Futures are on the rise today also. Relation? |
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ChartBuddy
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Activity: 2352
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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September 08, 2015, 11:02:13 AM |
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findftp
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Delusional crypto obsessionist
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September 08, 2015, 11:02:29 AM |
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What's driving this rally?
Greed, supply and demand. Agreed. It looks like (for now) Bitcoin is following the markets - perhaps a surprising thing, but it's been doing so lately. Futures are on the rise today also. Relation?Of course. You should know by now that bitcoin is going to save the world from total collapse.  |
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ChartBuddy
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Activity: 2352
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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September 08, 2015, 12:02:23 PM |
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rjclarke2000
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September 08, 2015, 12:33:53 PM |
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Still waiting for double digit, smell like broke   Still one of my favourites^^ Ha ha |
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rjclarke2000
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September 08, 2015, 12:34:58 PM |
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Come on $300. You really are taking your time.
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ChartBuddy
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Activity: 2352
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September 08, 2015, 01:02:51 PM |
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ChartBuddy
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September 08, 2015, 02:02:50 PM |
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abercrombie
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September 08, 2015, 02:25:32 PM |
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are we rich yet??   |
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Elwar
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Viva Ut Vivas
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September 08, 2015, 02:28:11 PM |
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Ruble exchange hacked? Is this the end of the Ruble?  |
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hdbuck
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September 08, 2015, 02:40:38 PM |
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Ruble exchange hacked? Is this the end of the Ruble? Nothing to comment, already relaunched.
some ol reuters fud.. |
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kromtar
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contracorriente
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September 08, 2015, 02:54:53 PM |
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Nothing to comment, already relaunched.
some ol reuters fud..  |
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ChartBuddy
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September 08, 2015, 03:02:33 PM |
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aztecminer
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September 08, 2015, 03:40:35 PM |
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fud bitcoin... i dont need no bitcoins...... i going to the beach... better things to do then worry about bitcoin. #goals #priorities
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Torque
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September 08, 2015, 03:42:15 PM
Last edit: September 08, 2015, 03:59:38 PM by Torque |
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Mt Gox Bitstamp NYSE China, is that you? |
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ChartBuddy
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September 08, 2015, 04:03:13 PM |
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spooderman
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September 08, 2015, 04:48:45 PM |
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hashtagging in here? really?
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billyjoeallen
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Hide your women
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September 08, 2015, 04:53:19 PM |
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The dollar weakened, so assets denominated in dollars went up, all things else being equal.
Fundamental issues as I see them:
1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)
This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce.
It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty. It's impossible to build a business model based on an unknown fee structure.
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