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RE: August to be a BREAKING month for Bitcoin ?
Keep in mind, July 1st Australia will recognize Bitcoin as a currency in their country. That is going to cause a nice wave going into August. I agree, these developments you mentioned will make August an interesting month, though I would not discount what is going to happen in July either.
is there a source article or video for this information about australia? id like to read up on it. thanks
indeed! we simply cannot underestimate the untapped market potential of cryptocurrency. still only a small portion of the world is aware, less than that are involved. even with the current spree of crypto adoptions in major countries, remember that a huge portion of the world is still not online, or does not own a cell phone. there are so many new users available to crypto that it's very hard to imagine any kind of real slow down for years to come. add to this the movements of china and others to return to gold-backed monies and away from the petro-dollar, and things should really be just fine!
Here is one article discussing Australia's move towards it. https://news.bitcoin.com/bitcoin-double-taxation-ends-australia-july-1st/
I will get some more sources for you tonight after work, currently on a cell phone and links suck this way.
I think it's a great move by Australia to do this. But removing GST from the purchase of cryptocurrency isn't necessarily the same as recognizing it as a currency, though. And to be honest, I'm not so sure if having states and central banks recognize cryptocurrency as a currency is even a good thing. It's great to avoid the tax, but there may be broader implications that ought to dampen our enthusiasm for such a move.
Thank you for the reminder about getting more sources on @Australia and their move concerning #Bitcoin. I am home now and can provide more links:
https://cointelegraph.com/news/australia-will-recognize-bitcoin-as-money-and-protect-bitcoin-businesses-no-taxes
Well, maybe not many more sources as everything I have found links back to the Coin Telegraph article so no use in posting them all.
Good addon :)
Very interesting ... triverse, what do you think will happen in july
I am obviously hoping for great adoption and exponential growth. I fear we will see government regulation and interference.
Here's the relevant section of the Australian Budget 2017-18 entitled "Backing innovation and FinTech"
http://www.budget.gov.au/2017-18/content/glossies/factsheets/html/FS_innovation.htm
Most of the countries are sensing the future of the coin market and trying to enter into that, IMF is planning something else to stop the bitcoin. Unless they did with Gold and Silver to manipulate to bitcoin, It will not stop as they wanted. Go Higher Bitto !!!
Japan has done something similar too. So that's telling me I need to start putting money into cryptos each month now as this is going to really explode! This should definitely benefit Bitcoins competitors too
This will be interesting in Australia, I wonder how it will effect all the other currencies, especially Litecoin?
Perhaps could finally go up, fingers crossed :)