Purchases of digital currency will no longer be subject to GST. Meaning the only time you’ll pay tax on your digital currency is when you spend it.
Bitcoin isn’t the only coin of its type. There’s a whole world of ‘cryptocurrencies’ that you can buy and hold your wealth in.
Make no mistake. Investing in bitcoin is as risky as it comes. However, the opportunity in Bitcoin today is not to be missed.
Now in the first week of March 2017, one single bitcoin has been consistently trading higher than the spot price of an ounce of physical gold. One bitcoin is now worth US$1,278. On ounce of gold is worth US$1,229.
Bitcoin has been making news since the Christmas period. The price started rallying upwards to reach a high of US$1,129.87 on 4 January.
Watch out criminals! The Aussie government is coming for you. Your criminal ‘cash economy’ is over, kaput, finite. The jig is up.
There are only minor differences between the blockchain and how we currently transact electronically. Yet these differences could lead to huge benefits in the long run. Let me explain how.
There might be an undiscovered digital currency which takes over bitcoin and even the US dollar. But it likely won’t be the latest digital currency, S-Coin.
What makes Blockchain so special is that it’s spread over a network of nodes, thus encouraging transparency. It’s a system that works ‘without relying on trust’.
When the world is on the brink of financial collapse, it’s not gold, not currency, not even stocks that really flys. It’s bitcoin.