Australia moving forward

[xIIImaL]

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 great milestone in bitcoin after bitcoin being adopted by Australia. They are one biggest manufacture and IT consumers through out the world. This will rock and take bitcoin price to 2000$ easily with in 3 months. If they are planned to apply over GST way of use the bitcoin with in their country. It will be equally treat like AUD fiat. All the price through out the country will be same. Great kick Sir. Malcolm turnbull.

[Kemarit]

Yup. Australia making a move as well. If they are going to adopt it similar to Japan, this means that a new source of cashflow will be coming over to the bitcoin market pushing the price to a new level. 2017 is truly a amazing year for bitcoin. The only thing worth asking is, just much is the price at the end of the year? $3000-$5000? We are only waiting for Europe to join the party really, Asia is now leading the way together with US and Canada. Common EU where are you? You still believing that you can control everything? A lot of countries are now joining, don't be left out. Good moved Ozzy's!!!

[LEEMEEGO]

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 just one of the reasons why bitcoin price is mooning. and there are so many positivity about bitcoin. after japan, next is australia? i dont wonder if many countries will follow the steps of these countries towards approaching and embracing bitcoin.  this is really a good news to all of us. and let's hope for more good news.

[nightxglow]

It's such a great big news! I hope more country will follow australia, japan and other countries. It will be even better if my country accept and support digital currencies. That way maybe bitcoin will be more useful for me. But now i wonder, will this affect bitcoin's price? Like increasing soon?

[Kprawn]

This is not to say that the banks are going to play along with this. We have seen what stunts the banks tried a while ago in Australia and the

people had to approach the courts to force the banks to play fair. We do not need them, but we need to accommodate for fiat to be converted

back and forth, if people want to do that.... If they do not play fair, people will bypass them and start trading cash for bitcoins on the street. 

[aTriz]

The best thing I can see about that also Australia has plans to adopt bitcoin is that we will have already two countries that are accepting BTC as a legal payment method.
It will make the trading volume go even higher, because the people living in Japan (or later also, in Australia) are willing to use bitcoin, because it is an asset that is easy,fast and pretty comfortable in use, so why won't you pay with it?
Bitcoin is more than just a currency or a payment solution, you can simply hold it for profits or just invest it in any BTC/crypto related company, that is operating mostly through the internet.

More countries accepting bitcoin = higher price plus bigger market capitalization!

[shintosai]

It's such a great big news! I hope more country will follow australia, japan and other countries. It will be even better if my country accept and support digital currencies. That way maybe bitcoin will be more useful for me. But now i wonder, will this affect bitcoin's price? Like increasing soon?

well just an observtion with crypto the more popularity the more investors and newcomers to show up and support the chain, with this the value
rising up so high so we will expect more price up because this news will bring more new investors to cryptos.

[Baofeng]

It's such a great big news! I hope more country will follow australia, japan and other countries. It will be even better if my country accept and support digital currencies. That way maybe bitcoin will be more useful for me. But now i wonder, will this affect bitcoin's price? Like increasing soon?

Of course this will have a positive impact to the bitcoin ecosystem. Specially that now Australia is on board, we will see the price mooning in the next couple of months. More investors from Australia will joining in and buy bitcoin in the market that will help push the price of bitcoin to new ATH in the future.

[Kyraishi]

It's such a great big news! I hope more country will follow australia, japan and other countries. It will be even better if my country accept and support digital currencies. That way maybe bitcoin will be more useful for me. But now i wonder, will this affect bitcoin's price? Like increasing soon?

Well, you are a newbie rank over here so I assume that is the reason of why you don't know about this, but already bitcoin price have increased a lot!
The big part of this move was probably caused by this news, after all we have seen what happened when Japan goverment has decided to adopt bitcoin as a possible payment option: many more people become interested about cryptocurrencies, and the market capitalization + trading volume has increased quite fast, according to the previous increases.

Imagine what is going to happen when the Australians will decide to buy a lot of bitcoins for that purpose, the price will go up to the skies!
Probably same thing about volume, and also we will see the same thing that was present few days ago: australia (previously, Japan) will make more than 50% of the 24h trade volume on BTC!

[skorupi17]

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?

That is a BIG YES! As to what I've claimed in different threads in this forum, the acceptance of Bitcoin as a mode of payment in Japan triggered many people in engaging themselves to Bitcoin. Because of the left and right great news from Japan about bitcoin, it is inevitable for other countries to look into bitcoin. We have seen the rapid increase in bitcoin's price after the Japan's act and now we can expect more increase in bitcoin's price on the following weeks. These countries utilizes Bitcoin at its finest. Australia is a continent and if the Australia as a whole will accept bitcoin, get your jaws ready for it might drop and your eyes for it might pop

[watermark]

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.

All these positive news stories could be helping the bitcoin price stay high. There will eventually be some kind of bad news to make the price drop some.

[qiwoman2]

This is a step in the right direction and what we have all been dreaming and hoping for. I believe Bitcoin could easily reach 3k USD in price as predicted before the end of 2017 unless we have any major calamity or world war. I do hope that the rise in Bitcoin value and acceptance will also lift many others out of poverty who so far have been left out totally of the banking system.

[daringdiscovered]

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.

First is Japan, and then Korea, and now Australia, I guess this countries already realized that bitcoin would be a really great help to them to solve their problems in their countries. This is just the start, it is possible that we are going to try again the bitcoin ETF if the SEC will approved it this time, but I'm sure they would since, we do already have a proof that bitcoin is not a threat, maybe it is to them, but if we are going to talk about the majority, we win.

[zarintasnim]

This is very good Australia taking bitcoin . For this bitcoin price will be high.  I think Australia  will inspired by japen. Bitcoin show there adopteing increasing day by day and many other countries are Wait for this.

[nydiacaskey01]

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.

Philippine's Central Bank started regulating Bitcoins only 2017, but as early as 2014 the Central Bank of the Philippines issued a warning about use of Bitcoin. Now that Central Bank of the Philippines regulates use of Bitcoin, CBP is instructed exchange sites to step up their KYC protocols with Bitcoin users, making it more harder for us to register and withdraw funds. It's like your anonymity with using Bitcoins stops when you try to exchange your Bitcoins to Fiat in your country. I am expecting Australia to also step up the KYC protocols which also turns off Bitcoin users.

[xuan87]

This is certainly a good news seems like the Japan adoption has been giving a good effect, this event can make bitcoin price rise higher and seems like there are a lot of country start thinking to adopt bitcoin, if everyone can keep using bitcoin for positive things I am sure bitcoin can become bigger and bigger

[Kakmakr]

This is very good Australia taking bitcoin . For this bitcoin price will be high.  I think Australia  will inspired by japen. Bitcoin show there adopteing increasing day by day and many other countries are Wait for this.

It is good for the price, but not if they over regulate the whole matter. Bitcoin is better when it is used with full pseudo anonymity and when governments gets involved, they implement strong regulatory requirements for people to use this technology. These requirements strip away all pseudo anonymity and people can then be linked to their coins.

Bitcoin is then less anonymous than fiat cash. ^sad^

[Xester]

This is certainly a good news seems like the Japan adoption has been giving a good effect, this event can make bitcoin price rise higher and seems like there are a lot of country start thinking to adopt bitcoin, if everyone can keep using bitcoin for positive things I am sure bitcoin can become bigger and bigger

Japans adoption has really made a  big impact to the world. This has encouraged big bag holders to invest on bitcoin. As bitcoin grows Australia was also enticed by the merit so bitcoin and thus decided to adopt bitcoins. These two countries will bring huge impact to bitcoins that will roll bitcoins to the higher level of investment and may touch a 3k$ to 5k$ this year.

[zend7]

This is great to hear. Regarding the anonymity which can be taken away from the governments it can be bypassed easily. It is on the user side responsibility to exchange his coins in a mixing service for new ones after he buys bitcoin from regulated exchange which will need his/her ID in order to let him to buy the bitcoin. So just another few more well developed country and 5000 usd 1 bitcoin can be reached within this year.

[btcforall777]

Australians obviously have balls. Cowardly countries like Russia and India take notice. You are getting left behind.