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RE: Japan Ends 8% Consumption Tax On Bitcoin Today
I don't know if this change in rules will increase the value of bitcoin, but it does increase its usefulness as a "medium of exchange".
I don't know if this change in rules will increase the value of bitcoin, but it does increase its usefulness as a "medium of exchange".
yeah but i'm thinking that's gonna increase demand, which also adds to the fact that because of this it's getting a little more attention from the press, increased demand = higher value
Yes, but it is in an indirect way. It will have an effect, but it will play out over a long period of time. I don't think Bitcoin suddenly will increase a lot because of this. This change of rules adds to the usefulness and this is a slow process until Bitcoin "crosses the chasm". Than the effect of this change could have significant impact. An article I wrote about "crossing the chasm": https://steemit.com/bitcoin/@remyremy/a-50-drop-in-a-couple-of-days-and-a-35-recovery-in-24-hours-should-you-worry