Good news for Bitcoin Price!

CryptoGuru Level X³

1

October 13, 2016, 2:56 pm

5

Good news for Bitcoin Price!

Bitcoin is the topic of discussion today! As you guys know i have been following it for about 2 years, and i started mining about 1 year ago. Few things have just happened recently that will affect the Bitcoin price in the near future. Today i will explain two of these things.

The first thing that will help the price of BTC is the recent discussion and moves to make the %8 sales tax in Japan go away. Japan is currently in advanced talks to remove the %8 sales tax from people who are using BTC to buy things. The law is considering Bitcoin a "prepaid" thing as opposed to cash. This means that it cannot be taxed when it comes to sales. This will help the BTC economy grow in Japan for sure making the price increase.

The second thing is KimDotCom reinventing Mega upload and using BTC as the only form of payment allowed. KimDotCom is currently fighting a court case about his previous website Mega upload and is facing extradition to the USA. he is in the media spotlight and he is using that to help Bitcoin. He will take Bitcoin to the mainstream if the USA doesn't get their hands on him first.

As always thank you for reading please don't forget to follow me.

https://listingdock.com/user/jkeyz2

https://www.seoclerks.com/user/jkeyz2

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Lynne

I had no idea that Japan added 8% sales tax onto Bitcoin. It will be great a big move for Bitcoin if that tax gets removed. Everyone likes paying less tax don't they?

0 8 years ago

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Everett

It's really great that Japan is removing the 8% sales tax on Bitcoin which is supposed to be decentralized currency. How can a country tax Bitcoin? The only tax from Bitcoin i am aware of is really not even a real tax but a transaction fee. Transaction fees I am okay with but country taxes on Bitcoin I am not okay with.

I'm seriously hoping that the United States doesn't even attempt to tax bitcoin because they already tax way too much stuff. We have taxes, and fees for a lot of stuff. Didn't we actually depart from England because of taxes? I think taxes was one of the reasons, and if that is the case, why do we have these insane taxes now? Kinda defeats the purpose of leaving england if you ask me. Lol.

Bitcoin hopefully will increase in price, I notice that a lot of the time the bitcoin increases when a lot of people are buying it. I think some vendors accept bitcoin to sell technology related products such as laptops, phones, etc. So if there is ever a new version of something or a new tech product there is always a slight increase in price. Remember when it was $300 per bitcoin? Now it's 636.13 US Dollar per bitcoin. If I remembered my wallet details I think i have a couple of bitcoins, but of course i can not remember what it was!

0 8 years ago

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CryptoGuru

Yes i have no clue how the tax works but im sure its like the existing sales tax. Companies that accept Bitcoin have to charge %8 on top of what the sale is if the person is using Bitcoin to pay. Bitcoin is also taxed in the United States and some people don't realize this. Bitcoin is considered a digital asset and you must pay a Capital gains tax once you cash Bitcoin out into traditional currency. If you live off of Bitcoin and you never cash out then you still must pay income tax. Last year it was low 300 price yes and now we are going to see it cross the 700 marker here in the next few weeks. Thanks for sharing guys!

0 8 years ago

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Barida

Bitcoin prices will continue to fluctuate with time considering the fact that it is a cryptocurrency that can be traded online, that involves buying and selling. In as much s the Japan got some taxes on bitcoin, I do not think that it is really going to affect anything for it is only the forces of supply and demand that can shift the prices upwards or downwards.

0 7 years ago

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Corzhens

Have you noticed that Bitcoin and other crypto currencies are quiet in the forefront? There’s not much news about them because, according to one post in social media, people are now having second thoughts on the crypto currencies. There are so many of them and naturally there are the fakes and scams which may have turned off people in the use of crypto currency.

0 6 years ago

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