Germany Recognizes Bitcoin As "Private Money", Sales Tax Coming Soon---> If what Germany did is going to be imitated by other countries as well, this will have a positive or a negative impact on the price of Bitcoins?
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Since the seller has to pay taxes when he sells bitcoins, he will be willing to sell at an higer price that he would without taxation, and this will take the price at an higher level. This will be an advantage for the owners of bitcoins operating in countries where there isn't taxation. Is that correct?
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Answer:
The rebels already like the concept. This wil... You must be signed in to read this answer.Connected to GoogleConnected to FacebookBy continuing you indicate that you have read and agree to the . Loading account...Complete Your ProfileFull NameChecking...EmailChecking...PasswordChecking...By creating an account you indicate that you have read and agree to the .
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Other answers
Real rules, and certainty that it won't suddenly be illegal will have a positive effect on Bitcoin's price. All the tax implications were already there, so this doesn't really add any new costs it just means there are rules you can build a business on top of. I can't think of any jurisdictions that tax their money, but won't legally require you to pay taxes on your bitcoins. Whether you comply with that is another matter entirely, but for law-abiding tax-paying citizens this really is nothing but good.
Adam B. Levine
Positive. Let me tell you why. I asked my dad to invest in Bitcoin when it was around $12 / coin. He rejected my proposition because Bitcoin is a big joke for him. How can a computer mine money, he said? I explained everything about how it works. The 21 million coins cap. The nature of how the crypto currency works and how the capping of Bitcoin can make Bitcoin more valuable than gold in the future. He just didn't buy it. Because it's not money. No government institution support it therefore it is not a currency and it's just a scam. If Government institutions recognize Bitcoin, then maybe I can convince my dad. But I think that would be too late since it is already $130 / coin.
Raymond Ho
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