Australia moving forward

[aoluain]

I just read this article this morning on.
https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1.

“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.”

This is really positive news a a big step forward.
Following on from japans good news story are we seeing a snowball effect?

[SimmonenY]

There is a positive tendency towards bitcoin, so in the light of these events, I guess the bitcoin price will soar further on. Congratulations Australia!

[iqlimasyadiqa]

I just read this article this morning on.
https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1.

“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.”

This is really positive news a a big step forward.
Following on from japans good news story are we seeing a snowball effect?

Wow if this is true then there will be an increase in bitcoin prices that continue. Australia will follow in the footsteps of japan country. This is a revolutionary of bitcoin. When big countries begin to recognize bitcoin then we just wait for time for all countries to use it. I am very enthusiastic when I see big countries like japan and australia acknowledge bitcoin legally. These are all things that envisioned by the creator of bitcoin.

[JeffBrad12]

I just read this article this morning on.
https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1.

“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.”

This is really positive news a a big step forward.
Following on from japans good news story are we seeing a snowball effect?

Wow if this is true then there will be an increase in bitcoin prices that continue. Australia will follow in the footsteps of japan country. This is a revolutionary of bitcoin. When big countries begin to recognize bitcoin then we just wait for time for all countries to use it. I am very enthusiastic when I see big countries like japan and australia acknowledge bitcoin legally. These are all things that envisioned by the creator of bitcoin.

Another side can be good news for us, But bitcoin isn't ready for mass adoption. And this is, and enough evidence Bitcoin is not ready for that. https://blockchain.info/unconfirmed-transactions
Over 110k unconfirmed transaction. WTF my transaction was not getting confirmed over 100 hours.

The more countries will be accepting bitcoin or just give permission for bitcoin and there will be more unconfirmed transaction due to the bitcoin network can't validate a lot of transaction in once time.

[Amph]

another big country that will regulate bitcoin, like i said this si only the beginning, $10k value will not be a dream anymore when more country will join the party

now we have australia japan and russia that are seeing bitcoin like money and not property or assets, few country and bitcoin is nerly at $2k, imagines if all ther world regulate it...

[Carlsen]

Interesting how bitcoin is developing in the eyes of the public and the gouvernments.
It's really great to see how it turns from the black market currency to a widely even amongst authorities respected valuta.
I think this is one of the reasons why the price is entereing new heights these days.

[Pursuer]

I knew it ! Japanese finally had their effect on the whole world and their stance against bitcoin. the first one which was huge in my opinion was Russia, they stopped treating bitcoin as "something we may call illegal soon" and started "we may call it legal".

the next was the European countries which had some chatter about legalizing bitcoin as a currency like Japan.

and now this. if this is accepted then I am sure many more countries will follow. we have to fasten our seatbelts because this year the final price may surprise all of us.

[SingAlong]

I knew it ! Japanese finally had their effect on the whole world and their stance against bitcoin. the first one which was huge in my opinion was Russia, they stopped treating bitcoin as "something we may call illegal soon" and started "we may call it legal".

the next was the European countries which had some chatter about legalizing bitcoin as a currency like Japan.

and now this. if this is accepted then I am sure many more countries will follow. we have to fasten our seatbelts because this year the final price may surprise all of us.

Yep. Japan's recognition and legalizing Bitcoin truly serves as popularity boost and also known as having a strong economic prowess that is known across the entire globe then those other big nations would be more open minded to the potentials of Bitcoin it will bring especially in the economic growth of their respective countries and knowing these big nations, they will not allow to be left behind. This is really a good news though there are also a downside like:

I just read this article this morning on.
https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1.

“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.”

This is really positive news a a big step forward.
Following on from japans good news story are we seeing a snowball effect?

Wow if this is true then there will be an increase in bitcoin prices that continue. Australia will follow in the footsteps of japan country. This is a revolutionary of bitcoin. When big countries begin to recognize bitcoin then we just wait for time for all countries to use it. I am very enthusiastic when I see big countries like japan and australia acknowledge bitcoin legally. These are all things that envisioned by the creator of bitcoin.

Another side can be good news for us, But bitcoin isn't ready for mass adoption. And this is, and enough evidence Bitcoin is not ready for that. https://blockchain.info/unconfirmed-transactions
Over 110k unconfirmed transaction. WTF my transaction was not getting confirmed over 100 hours.

The more countries will be accepting bitcoin or just give permission for bitcoin and there will be more unconfirmed transaction due to the bitcoin network can't validate a lot of transaction in once time.

I hope that it will not be an all out and everyone would just take it slowly so that Bitcoin can cope up with the increase in demand and remain or raise the quality of the services it offers.

[ice18]

This is another good news to cryto world especially  to bitcoins and indeed another big step in the legality of bitcoins in every countries..I expect more increase in value of bitcoins this coming months..

[Sniper44]

this is yet another good news in a series of good news about bitcoin adoption and it will lead to higher price in long term. these things may cause a short term FOMO thing where bitcoin price rises fast and drops a little after some time but in the long term the real adoption will happen and all the new money coming in will increase the size of the market and cause the real big rise by then.

[findingthemoon]

Following on from japans good news story are we seeing a snowball effect?

I believe so, some conspiracy theory believers think the government is trying to hold bitcoin down for some unknown reason but in reality governments are going to accept it more and more, even in France the newly elected president is a bitcoiner.

The reality is that its getting adopted by every walk of life and it will continue to ride the wave of adoption, the bigger question is will people still use bitcoin as soon as the price stops rising?

[romero121]

That's a good news, by the same time banks of Australia are much focused towards the digital growth. They are with plans of starting separate banking service for bitcoin usage with several partner firms who were already into the digital currency related activities.

[Xester]

I just read this article this morning on.
https://cointelegraph.com/news/bitcoin-to-become-just-like-money-in-australia-july-1.

“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.”

This is really positive news a a big step forward.
Following on from japans good news story are we seeing a snowball effect?

This is not just a snowball effect but rather a complete movement towards the use of cryptocurrency especially bitcoin in their country. With Japan on the lead Australia had followed their move and is marching towards the same goal of making their economy alive by accepting bitcoin in exchange for goods and services. This just means that bitcoin could reach as high as 5,000 dollars by the end of the year.

[timerland]

Im very, vey glad to see that also Australia has made that wise move.
To be honest, many times before in my posts I have mentioned that such a situation may, and wil probably occur. We should just be thankful to Japan goverment and their society, because they have pretty much made bitcoin more popular, and thanks to their decision we can see that more countries will follow their steps: the first country after Japan is Australia.

A very good thing about that, is that the both countries are highly-developed, and also they have wealthy community. It can really cause the bitcoin price go to the  moon in a really quick time, as we have seen the same thing last week.

[Red-Apple]

this is what will slowly but surely happen in almost all countries. when people start adopting bitcoin, the government has to do something about it, of course many may thing they will ban it but they can't be the only country in the world to do it while other bigger countries move forward.

think about how much this is going to affect them, when many people want to use bitcoin but their government says no!
the adoption is something that will happen. better get ready for it.

[LFC_Bitcoin]

Great news, slowly but surely we are getting there, bitcoin is going to explode into mainstream adoption in a few years. Don't miss out guys, make sure you are invested.

[Peter789]

Yooohooooo      btc to cost 10% less after July 1st.

[Renji Abarai]

Aside from Philippines and Japan, now Australia is following suit, that is to recognized bitcoin as currency. This is a good news, and it will propel the continue rise of bitcoin prices. Its good to all of us who has bitcoin but an expensive now to start to the new ones but we know, the target for this year they say is $4,000 and we are on the way to half of it.

[Doms]

It is definitely a step in the right direction towards more exposure for bitcoin, considering that before this announcement, there have been an increase in the use of bitcoin with transactions relating to utility bills. Australia should be a role model to other countries who think otherwise of bitcoin. If the local currency of a certain country is strong enough, I don’t think bitcoin would be a threat to it.

[joshy23]

Australian government has removed the tax on "double taxation" on purchases made by bitcoin and other digital currencies in the country. So this is a very positive news not only Australians but for the bitcoin ecosystem. By the looks of it, Australia will now regulate on even followed Japan and embraced as legal tender. If this happen this year, bitcoin price will really going to the moon guys.