Bull run loading! Ohio to accept bitcoin for tax payment.

[Juggy777]

I just come across this post  in nypost that Ohio to become the first in United States of America to accept bitcoin as payment for tax.  I see this as a great this news and capable of trigger a recovering in some days and weeks to come.  We have lose so much this year because of governments attack and banning of cryptocurrencies activities but with is developments I expect a very serious breakout that should push bitcoin upwards. This is the link to the news. https://nypost.com/2018/11/25/ohio-becomes-first-state-to-accept-tax-payments-in-bitcoin/

Hey yes this news is indeed true and hopefully this shall lay a precedent for other governments to follow suit, and make use of cryptos legal in other daily activities too. I believe we're already seeing some movements from 3600$ bitcoins prices have shot up to 4300$, hence I feel this is a welcome news. I feel this news carries lots of importance as finally a government has taken a positive step towards bitcoins, will be interesting how this pans out.

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[fabiorem]

at what point (if ever) does bitcoin become reliable enough for governments to hold reserves? nobody bats an eye at government gold reserves.

Do gold falls 90% in value, in a 4-year cycle? I dont know if any national economy can withstand that.

[enhu]

Great news. But how do we verify whether the news is true that indeed the government accepts BTC but from someone who actually did it. Bitcoin currently gain green percentage but it may not be because of this news but perhaps a bull trap still. Those who keep dumping can still see there are more money coming into the circulation and they can still dump.

[Lucius]

This is huge for bitcoin. It is even bigger than the ETF news and anything like that regarding BAKKT and SEC. The point here is that GOVERNMENTS started to accept bitcoin as a means to pay them which makes it official, anything that governments deem official should be highly valuable.

I do not think anyone really understand the size of this deal. It means that if Ohio started to accept it, other states will as well and some other countries will start as well, which means not only bitcoin will be regulated properly all around the world but it will be also a legal money that governments sees as any other fiat currency.

If you live in USA, there is nothing different compared to bitcoin and euro for example. That type of level will help us insanely and will make it amazing to work with it. Price should have soared like hell when it first happened.

Just as a reference Ohio is ranked as 40 from 50 USA states by some factors as : health care, education, economy and so on. So it's not a great example and some big USA state which can change something in favor of BTC, I doubt that the rest of the states will be follow their example in the near future.

To claim that this is something huge for BTC makes no sense, and how this can be bigger then ETF or Bakkt? There are some other examples where tax can be pay in BTC, a year ago one Swiss town announced that it will accept such option this year, and one other Swiss town say the same back in 2016. As far I know this is just only idea and was not implemented in practice.

[BTCGOLD]

at what point (if ever) does bitcoin become reliable enough for governments to hold reserves? nobody bats an eye at government gold reserves.

Do gold falls 90% in value, in a 4-year cycle? I dont know if any national economy can withstand that.

Gold have much bigger market cap. Market cap of whole cryptocurrency market is less than McDonald's.
I have seen, here on Bitcointalk, article about price drops gigants like Google and Amazon during the internet bubble, and it was even more - over -90%. So still it is not the worst bear market.

[gabmen]

at what point (if ever) does bitcoin become reliable enough for governments to hold reserves? nobody bats an eye at government gold reserves.

Do gold falls 90% in value, in a 4-year cycle? I dont know if any national economy can withstand that.

Gold have much bigger market cap. Market cap of whole cryptocurrency market is less than McDonald's.
I have seen, here on Bitcointalk, article about price drops gigants like Google and Amazon during the internet bubble, and it was even more - over -90%. So still it is not the worst bear market.

It's just anxious investors overreacting to every little drop that happens. And you don't even have to look outside of crypto to see similar "crashes" In the past where it rebounded quite well in time. News like ohio tax payments in btc, nasdaq trading futures next year and the likes are a much needed positive rings at a time like this.

[cindygirl]

at what point (if ever) does bitcoin become reliable enough for governments to hold reserves? nobody bats an eye at government gold reserves.

Do gold falls 90% in value, in a 4-year cycle? I dont know if any national economy can withstand that.

Gold have much bigger market cap. Market cap of whole cryptocurrency market is less than McDonald's.
I have seen, here on Bitcointalk, article about price drops gigants like Google and Amazon during the internet bubble, and it was even more - over -90%. So still it is not the worst bear market.

It's just anxious investors overreacting to every little drop that happens. And you don't even have to look outside of crypto to see similar "crashes" In the past where it rebounded quite well in time. News like ohio tax payments in btc, nasdaq trading futures next year and the likes are a much needed positive rings at a time like this.

A bullish market is no doubt coming, what's unclear is when and how that market will be. Only a few more times can crypto survive such wild increases and decreases. Over time relative stability is a must for crypto to survive, generally speaking that comes with size and adoption. Each bubble comes at a higher marketcap, eventually there will be too many people and too much money to see such violent swings.

[matico]

The Ohio state bitcoin adoption news for tax remittance was true and it had a brief impact on tge market of cryptocurrency within twenty four hours and thing was soon return to normal. I dont think a single news can cause a bitcoin rally!

[fordsons]

I just come across this post  in nypost that Ohio to become the first in United States of America to accept bitcoin as payment for tax.  I see this as a great this news and capable of trigger a recovering in some days and weeks to come.  We have lose so much this year because of governments attack and banning of cryptocurrencies activities but with is developments I expect a very serious breakout that should push bitcoin upwards. This is the link to the news. https://nypost.com/2018/11/25/ohio-becomes-first-state-to-accept-tax-payments-in-bitcoin/

That is a great news for the crypto community. We have to support the Bitcoin in all of the fields and if we the community of Bitcoin try to use only Bitcoin for their payments then one day will come when everyone will adopt Bitcoin and that will be a golden time for the Bitcoin and the demand of Bitcoin will make the price more high.