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Author Topic: Germany recognized the bitcoin  (Read 2444 times)
lili song
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March 05, 2018, 05:32:24 PM
 #21

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?




It's a great news from Germany Ministry. They accept and use bitcoin as their transactions. But all the transactions in bitcoin don't have a tax.
It will problem for some government because the tax problem. Now no rules do transactions in bitcoin will paid tax.
So some of people want do transactions free of tax, they can use bitcoin for the transactions.
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March 05, 2018, 05:36:35 PM
 #22

What is there to think ... normal countries that understand that behind the bitcoin the future is doing everything to be a leader. In contrast to China, whose government in every possible way hinders the development of the crypto currency

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March 05, 2018, 05:42:57 PM
 #23

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?



This is a great news for people who uses bitcoin in Germany and they accept Bitcoin transaction and don't need to pay a tax that's really great.

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March 05, 2018, 05:59:20 PM
 #24

It's a great news for all cryptocurrency lovers, this move by Germany is a welcome one. I believe everyone will follow Germany in accepting Bitcoin after Japan and Canada. Hope Bitcoin price will soar up because of this awesome news. The good news has double bonanza like tax free for Bitcoin is another feather in the crown for Bitcoin lovers especially German citizens.

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March 05, 2018, 05:59:31 PM
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Germany is an advanced country. They understood the prospects of the BTC and are not afraid to introduce advanced technologies. I think to example of Germany will soon be followed by other countries.

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March 05, 2018, 06:12:52 PM
 #26

Do you think if the preconditions in your countries to accept bitcoin as payment means?

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March 05, 2018, 06:18:52 PM
 #27

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?



An excellent step. This shows another currency in this world is standing with bitcoin and cryptocurrencies but I still doubt if they are openly accepting it as legal tender. Legal tender is a very heavy word to use. Legal tender means govt. takes responsibility of every satoshi that their citizen hold so its hard to say if they are pretty much with making it a legal tender.
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March 05, 2018, 06:35:02 PM
 #28

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?
This is a huge step toward global acceptance of cryptocurrency not only as a pyament method but as market where people can create bussniess and make a living out of it, i am sure that not taxing it is just a starting thing because if you think of it, having people earning millions of dollars out of this market without paying a dime to the govermment while a small worker that barly earns his lving does, however i am sure that germany is the first and many other countries will do the same.


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March 05, 2018, 06:35:38 PM
 #29

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?




I believe that the Germans are very satisfied with this decision, especially the investors that are making trades and transactions to the FIAT. Most of the investors from the other countries are looking for the backdoor transaction that can free them from the tax system which is inevitable in the end. There are even ATMs which are anonymous but the transaction fee is high. Each country has their own tax system which is higher or lower.
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Germany is the great supporter of the cryptocurrency and with this fantastic decision, they are only making the benefit for their country in the opposite to the other governments which are greedy and money hungry!
I think that is a good sign for the Bitcoin participants in Germany, many other countries do not recognize Bitcoin, so investors who want to join Bitcoin are also afraid of being found and detained by the government, in my country Bitcoin is banned by the government, and this discourages investors.

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March 05, 2018, 06:44:10 PM
 #30

That really does clears a lot of stuff which people are messing about. If Bitcoin is not taxed then people are free to make whatever they want and provide their skills and services to all over the world. I did not think the government is ready for such a big step so they are taking it as a social experiment.

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March 05, 2018, 07:20:29 PM
 #31

Germany is an advanced country. They understood the prospects of the BTC and are not afraid to introduce advanced technologies. I think to example of Germany will soon be followed by other countries.
I agree with you, Germany is a great country which it interssed about new technology around the world, So as you said, they surely understood the prospects of bitcoin and how much he is very important to make the country more richer. This step will be followed by other countries as you said, I think until now there aren't a lot of countries that legalize bitcoin to be used freely by people.
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March 05, 2018, 07:31:38 PM
 #32

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?



in the midst of governments banning cryptocurrencies Germany has made the fantastic step. This will be really a great news for bitcoin and bitcoin users, promotes and gives good growth to it. Many countries has legalized it and tax free purchases satisfies the people and by seeing this if other countries too does this the growth of bitcoin will be inevitable.

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March 05, 2018, 07:35:13 PM
 #33

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?
That's an important step towards worldwide legislation, if no taxes are implemented this means that Bitcoin is finally considered to be a currency, not a property, but this is definitely going to affect Germany economic system, I wonder how they'll regulate cycle of money then.
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March 05, 2018, 07:44:24 PM
 #34

This is good news, Germany is a leader in EU and this might prompt other countries to do the same, perhaps Austria or Switzerland as part of the DACH region.

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March 05, 2018, 07:47:47 PM
 #35

The Ministry of Finance of Germany signed the Decree on recognition of bitcoin  legal tender.  The document specifies that purchases made for cryptocoins, are not taxed!What do you think about it?
That's an important step towards worldwide legislation, if no taxes are implemented this means that Bitcoin is finally considered to be a currency, not a property, but this is definitely going to affect Germany economic system, I wonder how they'll regulate cycle of money then.

You spend the money, this boosts economy. The money you spend goes to somebody else, who in turn spends it, etc. If you spend it in Germany (or maybe the EU as a whole, not sure about this), there is VAT the state collects for every sale (around 20%, I think but it varies from country to country). Kudos to Germany for the wise decision!
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March 05, 2018, 07:47:52 PM
 #36

It never claimed that it is a legal tender, it just said that it is a currency.
The different between declaring that it is a currency to declare that it is an asset is that selling and buying assets require you to tax just like you sold your house in a profit or something like that.
When a country declares that bitcoin is a currency it doesn't mean that bitcoin is legal tender.
Legal tender means that all the shops in that country will be required to accept bitcoin, as well the ministries of this country.
 

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March 05, 2018, 07:49:18 PM
 #37

Germany is an advanced country. They understood the prospects of the BTC and are not afraid to introduce advanced technologies. I think to example of Germany will soon be followed by other countries.

germany is an advanced country, thats true... but when it comes to the internet (connection) or the digitalisation itself..........germany is years behind others (especially compared to the scandinavian countries in europe) ....
many people in germany  suffer from bad internet connections.....and we are in the year 2018....... even in some bigger german cities the internet connection is only 1mb (or less) ...........

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March 05, 2018, 08:02:49 PM
 #38

This happened over a year ago and Bitcoin isn't quite legal tender in Germany. Instead it's a unit of account, which means it's legal for tax and trading. Legal tender means that it has to be accepted as payment for debts, and Bitcoin doesn't have that status in Germany for obvious reasons - it'd be a bit unwieldy to enforce.

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March 05, 2018, 08:09:55 PM
 #39

This is so great, I thinking about moving to Germany right now. Maybe all EU countries will recognize cryptocurrency in future.

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June 02, 2018, 03:20:55 AM
 #40

Germany legalised bitcoin  even Germany handling overseas payments in bitcoin .it's a positive move for bitcoin news
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