I've just read that Australia will start accepting bitcoin as a currency from July 1st. Also allowing bitcoin to be integrated better into the economy and offers no tax on it. Anyone else read about this?
This is incredible news, could we be seeing the start of the massive adoption by the public of bitcoin? I think the answer is yes.
Australia is big developed country and I suppose after this bitcoin as money will become mainstream and countries will join it one by one or maybe by whole unions like EU!
Australia is a big continent - 7,5 millions square kilometers, but it is not a densely populated country, with population not even reaching 24 million.
Taxas is estimated to have more inhabitants than Australia. How many of those 24 million of Australian citizens will be interested in BTC? 1/10 1/20? Probably less.
What I am counting on here is the fact that increasing acceptability of cryptographic money will cause chain reaction and other nations will follow.
What you said is correct population dont count but acceptance by a country and how efficiently it is going to workout will be counting it as it will be setting up the example by successfully implementing it and running it. So that other country will also follow their foot steps and start to accept bitcoin as payment and declare it as currency in their respecting country also.