Topic: Bitcoin Legality effect (Read 812 times)
I honestly don’t think so. Imagine a world where even if you buy a drink and you would wait for a few minutes for your transaction to be processed and on top of that you would be paying the transaction fee which we know is not that worth it to do so considering the hassle. I think Bitcoin or any other cryptocurrencies are better to be used and is more beneficial in international level rather than domestically.
In my opinion, bitcoin requires legality and bitcoin must also be recognized by the world. As one of the currencies, at this time not all countries can accept bitcoin as a legal payment instrument because if it happens it will conflict with existing laws and regulations.
A possible effect of the legality of bitcoin is the reduction in fiat currency transactions for a small population of a country and will develop over time. But I am not sure that fiat currency will completely disappear and be replaced with bitcoin in the near future.
To get bitcoin, we still need fiat and maybe it will last a long time.
in my opinion the effect of legalizing bitcoin does not affect fiat currency and fiat currency will remain and no one will replace it because fiat currency is a symbol of the country, and both will go together to complement each other and money to buy bitcoin and bitcoin to get money, to use wherever you are.A possible effect of the legality of bitcoin is the reduction in fiat currency transactions for a small population of a country and will develop over time. But I am not sure that fiat currency will completely disappear and be replaced with bitcoin in the near future.
To get bitcoin, we still need fiat and maybe it will last a long time.
and besides that not everyone can use bitcoin for a reason and you all know the reasons and obstacles?
In my opinion, bitcoin requires legality and bitcoin must also be recognized by the world. As one of the currencies, at this time not all countries can accept bitcoin as a legal payment instrument because if it happens it will conflict with existing laws and regulations.
A possible effect of the legality of bitcoin is the reduction in fiat currency transactions for a small population of a country and will develop over time. But I am not sure that fiat currency will completely disappear and be replaced with bitcoin in the near future.
To get bitcoin, we still need fiat and maybe it will last a long time.
A possible effect of the legality of bitcoin is the reduction in fiat currency transactions for a small population of a country and will develop over time. But I am not sure that fiat currency will completely disappear and be replaced with bitcoin in the near future.
To get bitcoin, we still need fiat and maybe it will last a long time.
If the bitcoin will be regulate and will be accepted around the world then the fiat will be useless because bitcoin will be the one who will regulate and circulate around the world. There would be some country that will benefit on implementing it and there is also a possibility that their economy will grow and evolve because of bitcoin and cryptocurrency.
There would also some negative effect of regulating this because if the bitcoin regulate all over the world then maybe some person would be hard to use it because until now there are people who don't have mobile phones or gadgets to be use in able to transact and use the digital currency.
There would also some negative effect of regulating this because if the bitcoin regulate all over the world then maybe some person would be hard to use it because until now there are people who don't have mobile phones or gadgets to be use in able to transact and use the digital currency.
You should also think that not everyone can afford to own internet, pc. You also have to keep in mind that not everyone has the ability to learn technology today, because even with the simple use of mobile phones, many people still find it difficult. So in my opinion the fiat currency will still remain and will not be lost, it will continue to be available to us for a long time.
Bitcoin is not created to be the sole currency in the world but it can be used for global trade without converting your base currency to different currencies and if you look at bitcoin in that aspect then you will understand that bitcoin can be used parallel to the fiat currency. There are many third world countries where they cannot afford all the luxuries but majority have mobile connection and if we have more companies with good user friendly application then everyone can use. my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values are the same. or will become commodity items such as gold etc. Give me your opinion
You should also think that not everyone can afford to own internet, pc. You also have to keep in mind that not everyone has the ability to learn technology today, because even with the simple use of mobile phones, many people still find it difficult. So in my opinion the fiat currency will still remain and will not be lost, it will continue to be available to us for a long time.
my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values are the same. or will become commodity items such as gold etc. Give me your opinion
Bitcoin and other cryptocurrencies could be an another form of payment for a certain country but I doubt that it will be replace fiat. Bitcoin is already been recognize across the world but some of them aren't ready for this kind of technology. Yeah this could be slightly improve the economic status of one country since crypto is known of having speed transaction and speed is necessary for this business industry. my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values are the same. or will become commodity items such as gold etc. Give me your opinion
In my opinion i think bitcoin have a great effect in the economy and society of a country the legality of bitcoin was always on the line as we know bitcoin cannot be banned completely in a country anyone could is bitcoin anywhere in the world. Bitcoin is just like internet the government is cannot banned internet but they could blocked people from using it. Also bitcoin is completely legal to use in many country but not everyone knows about it and the government was not sure about it. 
It is very difficult to see which country will rise to the economy when Bitcoin has a legal rule. But we can see which country uses the most transactions with bitcoins.
These 5 countries are the most Bitcoin holders :
1. United States
2. Romania
3. Czech Republic
4. Spanish
5. China
It could be that among the 5 countries, one of them will generate economies when Bitcoin has a rule of law
These 5 countries are the most Bitcoin holders :
1. United States
2. Romania
3. Czech Republic
4. Spanish
5. China
It could be that among the 5 countries, one of them will generate economies when Bitcoin has a rule of law
The possibility for that is very difficult to happen even though maybe all countries have recognized that bitcoin is a legal payment tool. because all countries also wish to be the best and get recognition, which will probably become obstacles later. uniting in a legal currency for an entire country might be difficult because of the culture and feel of a decisive country.
I think this is why those countries actually need to leave the idea of them creating their own currency because it will just be unnecessary competition everywhere, they all have one common goal, and that is their responsibility to the human being that has been placed in their hand to control, and having one single currency will only unite majority of these brings in different part of the world together. This is what many of these big countries like china, Switzerland, south Korea, France and the rest have seen that is making them to now give a thought to cryptocurrency, even though they are still, kind of shaky about it, but I am sure that soon than later, they will all give in to bitcoin usage as one coon currency amongst them all which I don’t think that it will have any negative effect on any of them, except for their selfish nature.
It is somehow helpful and seemingly may affect the standards of how it will be run. Legality is something regulated by the government and that will definitely change everything. Unless the government just declare its legality and certain rules are more favorable to the usual processes of it. Definitely, certain regulations will have conflicts with bitcoin policies and procedures and taxes may occur. Hopefully only illegal purposes will be decline.
my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values are the same. or will become commodity items such as gold etc. Give me your opinion
I think two if bitcoin become legal worldwide and under control by the government and the fiat is also exist, bitcoin and fiat are nothing difference because both is under contrpl by the government the proce value is stay what government want to be.
You cannot expect the poverty to just go and disappear in the thin air.
You cannot expect the farmers to have mobile phones and do stuff with it when they are working hard physically.
You cannot expect the countries like North Korea , which is already going through a recession to actually go through with it .
You cannot expect the street markets to shut down when you don't really have any internet .
..
I don't think it happening even 50 years from now.
You cannot expect the farmers to have mobile phones and do stuff with it when they are working hard physically.
You cannot expect the countries like North Korea , which is already going through a recession to actually go through with it .
You cannot expect the street markets to shut down when you don't really have any internet .
..
I don't think it happening even 50 years from now.
Frankly, personally I cannot conclude that bitcoin will eventually be accepted in all countries and have laws. It might be recognized but it cannot replace fiat currency because its value is very volatile, so the economy fluctuates rapidly and it is unstable. If the government accepts this technology, maybe they will only create digital currencies in their respective countries with a stable value to keep the economy stable. It is possible that bitcoin will become a commodity item such as gold and its nature is only for investment and trading and remains as it is now.
Is not it now there are several countries that accept bitcoin but are not used as their country's currency. They just adopt it and impose taxes on citizens who do business in cryptocurrency.
Is not it now there are several countries that accept bitcoin but are not used as their country's currency. They just adopt it and impose taxes on citizens who do business in cryptocurrency.
The possibility for that is very difficult to happen even though maybe all countries have recognized that bitcoin is a legal payment tool. because all countries also wish to be the best and get recognition, which will probably become obstacles later. uniting in a legal currency for an entire country might be difficult because of the culture and feel of a decisive country.
my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values are the same. or will become commodity items such as gold etc. Give me your opinion
I am actually hoping that fiat would keep on working when bitcoin gets a legal regulation all over the world. I am not longing to have bitcoin alone existing in our monetary system instead I want bitcoin and fiat to work in harmony so that each and everyone in the world could benefit from using both. In terms of the effect of it in the economy, we cannot be certain about anything yet since there's no living proof that can help us determine if it will cause detrimental effects to the economy or not.
If Bitcoin were to become legally available to people the fiat money would not be lost. It will remain until the world does not become equal!
This means that everyone will have the mobile phone, internet, computer and all the gadgets we need to have access to the bitcoin wallet!
But what about the people living in the corners of every country? the people who were not reached by the government service? the people who live in the mountains? people who are not in the center of commerce? How are they? How can they adopt such a technology?
Will they go back to the old days when they would use the gold, metal, silver and other stones to pay their bills when they went down the mountains and into the city?
This means that everyone will have the mobile phone, internet, computer and all the gadgets we need to have access to the bitcoin wallet!
But what about the people living in the corners of every country? the people who were not reached by the government service? the people who live in the mountains? people who are not in the center of commerce? How are they? How can they adopt such a technology?
Will they go back to the old days when they would use the gold, metal, silver and other stones to pay their bills when they went down the mountains and into the city?
my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values are the same. or will become commodity items such as gold etc. Give me your opinion
Never ever on a situation where Bitcoin would able to reach out this kind of certain state.It might be recognized or adopted but it wont come to the point where it would replace fiat currencies.Of cours fiat would always tend to work.Saved some economy? Possibly!
Its just always been good to be an alternative but not totally going to become mainstream.
my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. ...
But why would you rely on regulations so much? Why it's so important for you, that some political body will give you special permission to use bitcoin? You and everybody else, can use it, even when stupid politician says otherwise.. ~snip~
Exactly that's the point. Bitcoin was made to give freedom to public, if we rely on government authorities than the purpose of bitcoin will no longer exists.
Regulation may be encourage global adoption but it will take away the financial freedom for which bitcoin was designed.
Moreover a single currency for the whole world seems unrealistic and will not going to happen.
maybe in the future bitcoin will get legal rules and be recognized worldwide as a global coin. although bitcoin has become a global currency, I think fian money will still be there, because there are some people who don't understand technology, they always rely on fiat money.
and in my opinion, the legalization of bitcoin will improve the country's economy which legalizes bitcoin.
and in my opinion, the legalization of bitcoin will improve the country's economy which legalizes bitcoin.
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