Should LivingRoomOfSatoshi trade Steem for direct australian bank deposits ? Show your support here!
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Australian here. This would be an excellent idea for Living room of Satoshi. I might go and message them too.
No need - we're watching this thread :)
We're watching your response. ;-)
Quis custodiet ipsos custodes?
I would definitely use this service for using steem to directly pay to aussie bank account/bpay)- sounds awesome!
I would definitely use this service, this would make things so much easier
Disclaimer: I am just a bot trying to be helpful.
Services like these are an essential part of crypto for personal users!
I've been looking into the ATO taxation treatment of cryptocurrencies. I'm sure a lot of people are sitting on large capital gains at the moment on their crypto holdings after the recent rally. If you sell on an exchange, and your originally bought bitcoin as an investment, you will be liable for taxation on those gains.
Now, I know a lot of people would just say, don't declare it. However, if you want a clear conscious with regards to your state overlords, according to ATO guidance, so long as you acquired bitcoin (or STEEM or whatever other crypto) for less than $10,000 and use it to purchase goods or services for personal use, you will not be liable for income tax on the gains. See:
So, you should be able to spend your bitcoin (or STEEM in the future) on LROS and not have to worry about having the ATO on your back.
I am not a lawyer or tax accountant. Get your own professional advice before relying on this strategy.
Great post, I don't think it's as simple as not declaring the profits... Every exchange I know asks you to register your details and electronic funds transfers into your account are probably tracked by the ATO. Hard to defend in an audit
Thanks man, good to know...and No if the overlords audit me I wont come looking for you because of this advice..
I honestly think this is going to become a massive part of how we handle money here, no need using our cash when we can use what we earn here to pay our bills and keep the cash for life.
I really hope we can convince Living room of Satoshi to accept steem directly, it's just so much more convenient than having to pass our bitcoins through multiple exchanges to end up there anyway.
Bitcoin itself has become slow and this holds up how long it takes to actually get access to our funds, to send them through to living room of satoshi.
If we could transfer our steem directly in then it would be faster and even more convenient, be so nice to be able to essentially get paid from a post transfer as is to living room of satoshi and then have cash available in your bank or have paid a bill with no more hassles.
If steem is added, I see no reason why we wouldn't use this for the majority of our crypto transfers.
What a fantastic service, and based in Brissy too. I'm not yet anywhere near a point to withdraw Steem, but when I am a service like this would make the whole process so much easier.
I am on the Sunshine Coast, great to see some more local Steemians
Brissy. Stop you're making me homesick
Excellent, another potential user :)
Love this idea!
This is awesome! I just googled and found a place in Canada that does this from Bitcoin to various bills like Hydro and to credit cards.
So I could pay credit cards with Bitcoin, and then shop with those card, and then pay them with Bitcoin.
Thanks for the idea to search this out!
This is a great idea and just the kind of market integration that steemit users would embrace and adopt. Outstanding innitiative!