Topic: Bitcoin Legality effect - page 2. (Read 812 times)
In every thing their is negative and positive side, it is upto us to take which one is good. Same like when bitcoin will become legal world wide, then their will be lot of opportunity to each country, like lot of business will get developed through bitcoin and blockchain. More security will be their for every transaction but at the same time scammers will also become more and we have to be more alert in regards to it.
I don’t want to believe that the fiat currency will completely stop working because even the bitcoin itself was only designed as an alternative to fiat and not as a replacement to fiat. It may only gain more popularity than fiat and because we have so many people in the world right now that are all internet inclined, so it would not be difficult for them to actually migrate from the use of fiat to the use of cryptocurrency.
We will surely still have more people too that will keep the fiat system alive, we will have people that will also be using both at any time that is convenient for them. The people that I see the implementation and regulation of bitcoin as currency affect most are still the financial institutions like the bank, they will surely lose lots of customers.
our generation may not have an effect, but in the future it will be clear that encouragement as an alternative will move smoothly into a negative change inductor for fiat value exchanged to bitcoin because there is no control of inter-crypto transactions and can be done at any time. can the government control their btc taxes?We will surely still have more people too that will keep the fiat system alive, we will have people that will also be using both at any time that is convenient for them. The people that I see the implementation and regulation of bitcoin as currency affect most are still the financial institutions like the bank, they will surely lose lots of customers.
The effect of legality will make the government unable to deal with currency controversies against various businesses that use bitcoin, especially currency laundering. There will be many problems that are not trivial.
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
To this about the negative effect, I think the continents that are having issues with social amenities plus internet which is the main challenge to be faced. Believe me, the internet is a major challenge why many people in less technical countries don't embrace digital transactions and so, it will further create more problem. Internet connections are more sufficient in some countries.
in my opinion someday bitcoin will certainly be recognized by the world and get legality, and if indeed bitcoin has gotten legality from the government, I think more and more people who have not understood bitcoin will learn and want to have it. and all that can make the price of bitcoin higher because the number of requests will be even greater. we know the amount of bitcoin is limited, so people will save bitcoin for the long term. in my opinion legality will make prices even higher even though there will be rules that will be created by the government. and all that will not affect the interest of people who already have bitcoin at the moment.
If bitcoin become legal across the globe that will be the start of the bitcoin mainstreaming and bitcoin will be used as a legal tender. But even with the legalities bitcoin needs to overcome some big issues such as slow confirmation rate, areas without electricity and internet connection, poor people who cannot even buy computer or smartphones. So possibly it bitcoin is legalize the usage of bitcoin will still be limited in urban areas with people who can afford to purchase computer and smartphones. The problem will hit the extreme poor people and the people in far flung areas that has no access to electricity and internet connection.
You are absolutely right. Certain rural areas will be affected greatly. Fiat won't disappear easily. It will take decades for bitcoin to be generally accepted everywhere and used by everyone. The unlearned ones would find it difficult to understand what it is, much more use it. We have a long way to long to go ☺️.
If Bitcoin will be recognized and legalized around the world, it will surely bring a positive impact on its growth. Countries who will adopt it would benefit it as a mode of payment and as a digital currency. However, it will take time for most countries to legalize and accept it. There are still countries who lack necessities and equipment to adopt cryptocurrency. It's still inaccessible for a lot of people as well and they still need to be informed about it first.
If bitcoin become legal across the globe that will be the start of the bitcoin mainstreaming and bitcoin will be used as a legal tender. But even with the legalities bitcoin needs to overcome some big issues such as slow confirmation rate, areas without electricity and internet connection, poor people who cannot even buy computer or smartphones. So possibly it bitcoin is legalize the usage of bitcoin will still be limited in urban areas with people who can afford to purchase computer and smartphones. The problem will hit the extreme poor people and the people in far flung areas that has no access to electricity and internet connection.
You are absolutely right. Certain rural areas will be affected greatly. Fiat won't disappear easily. It will take decades for bitcoin to be generally accepted everywhere and used by everyone. The unlearned ones would find it difficult to understand what it is, much more use it. We have a long way to long to go ☺️.
I don’t want to believe that the fiat currency will completely stop working because even the bitcoin itself was only designed as an alternative to fiat and not as a replacement to fiat. It may only gain more popularity than fiat and because we have so many people in the world right now that are all internet inclined, so it would not be difficult for them to actually migrate from the use of fiat to the use of cryptocurrency.
We will surely still have more people too that will keep the fiat system alive, we will have people that will also be using both at any time that is convenient for them. The people that I see the implementation and regulation of bitcoin as currency affect most are still the financial institutions like the bank, they will surely lose lots of customers.
We will surely still have more people too that will keep the fiat system alive, we will have people that will also be using both at any time that is convenient for them. The people that I see the implementation and regulation of bitcoin as currency affect most are still the financial institutions like the bank, they will surely lose lots of customers.
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
If bitcoin will achieve global legality, then this will ne a good start for bitcoin tofinally achieve what it was lacking, which is the adaption of it. Because the only thing that hinders bitcoin to achieve supremacy is the oppression being done by some governments and countries. Bitcoin will be recognized if this really happened and will somehow affect fiat because people will surely patronize decentralization. 
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.
If Bitcoin becomes a legal , can make effect the price of bitcoin will be very expensive because of limited stock and lots of demand. Online Marketplace will open payments via bitcoin, like amazon, ebay, alibaba, etc. Make it easy to send money internationally, open many job vacancies, and will have many ICO projects that sprung up.
But it will not erase fiat. Because fiat is the main currency of every country, bitcoin is only an alternative payment. Because there are conditions where payments can only be made by Fiat, for example areas that have not been covered by the internet network, for shopping at traditional places that do not allow transactions with bitcoin, payment of employee salaries, etc. Because bitcoin prices are not stable.
But it will not erase fiat. Because fiat is the main currency of every country, bitcoin is only an alternative payment. Because there are conditions where payments can only be made by Fiat, for example areas that have not been covered by the internet network, for shopping at traditional places that do not allow transactions with bitcoin, payment of employee salaries, etc. Because bitcoin prices are not stable.
Bitcoin legalization will affect the price of the cryptocurrency. It can grow first, but further, its volatility will be decreased. So, it can be assumed that BTC will start to interest people more not as an investment but as the virtual money for fast transactions. Sooner or later, but most governments will have to make crypto legal as we have come into the new era of blockchain and virtual currencies.
Legalizing bitcoin on a certain country won't increase the price instantly of course but it will surely affect the price of bitcoin slowly plus the incentives that the current country will receive. Like for example opening the eyes of citizens about bitcoin and the full acceptance of blockchain technology in their own country, That's why I believe that the effect of legalization on a certain country will take effect slowly.
There will be an increase in prices if by legalizing Bitcoin then people start flocking to buy Bitcoin so that makes the demand for Bitcoin to increase of course If demand increases, the price also increases. I am optimistic that if many countries legalize Bitcoin, ordinary people will start learning about Bitcoin. 
in my country Indonesian bitcoin has been recognized by the government and is very welcomed by crypto fans especially bitcoin, if the legalization of bitcoin in that country even if used as a transaction tool is good news for bitcoin itself apart from increasing bitcoin prices so people know what bitcoin is and the benefits.
Legalizations or regulations of Bitcoin to a specific country doesnt automatically mean the price will increase. Keep in mind that, not everyone is knowledgeable when it comes to cryptocurrency and blockchain technology. There's going to be a doubt at first. Plus, people might not get comfortable using Bitcoin as medium for transactions.
I just had a though that were still far from global adoption, how much more when we're talking about global acceptance of Bitcoin and Cryptocurrency?
Adaption from a certain country won't take effect instantly to bitcoin price, but we can see the changes in its price due to the increase in demand.
It will slowly increase until every individual that got into crypto will invest in it.
in my country Indonesian bitcoin has been recognized by the government and is very welcomed by crypto fans especially bitcoin, if the legalization of bitcoin in that country even if used as a transaction tool is good news for bitcoin itself apart from increasing bitcoin prices so people know what bitcoin is and the benefits.
Legalizations or regulations of Bitcoin to a specific country doesnt automatically mean the price will increase. Keep in mind that, not everyone is knowledgeable when it comes to cryptocurrency and blockchain technology. There's going to be a doubt at first. Plus, people might not get comfortable using Bitcoin as medium for transactions.
I just had a though that were still far from global adoption, how much more when we're talking about global acceptance of Bitcoin and Cryptocurrency?
The demand will increase that's why its supply will be limited, it is not something to be afraid, but it will be the reason for its price to increase or even maximize its price over the time. Its use will also be expanded where everyone can be able to use it in many ways.
The use of Bitcoin I think will only be used by those who understand about the world of Cryptocurrency not for other ordinary people are still very low in their knowledge of Bitcoin. If later Bitcoin is legalized, new Bitcoin users will increase.
A person don't have to know the advance technicalities of Bitcoin in order to use it. We just need to learn the basic of sending, receiving, and securing the wallet which I think even normal people are capable of. Besides there are lots of tutorial on the internet to acquire those knowledge.
Legalization of Bitcoin will both attrack and repel users. Those who hates centralization will be repelled and will look for another decentralized, unregulated cryptocurrency, probably privacy coins while those who are waiting for the government signal will flock in. Possibly the one getting in will outweigh those who are going out which will result in more demand and start ups since Bitcoin enthusiast can move freely to spread out the news about Bitcoin due to approval and regulation of the government.
in my country Indonesian bitcoin has been recognized by the government and is very welcomed by crypto fans especially bitcoin, if the legalization of bitcoin in that country even if used as a transaction tool is good news for bitcoin itself apart from increasing bitcoin prices so people know what bitcoin is and the benefits.
Legalizations or regulations of Bitcoin to a specific country doesnt automatically mean the price will increase. Keep in mind that, not everyone is knowledgeable when it comes to cryptocurrency and blockchain technology. There's going to be a doubt at first. Plus, people might not get comfortable using Bitcoin as medium for transactions.
I just had a though that were still far from global adoption, how much more when we're talking about global acceptance of Bitcoin and Cryptocurrency?
bitcoin is legalize the usage of bitcoin will still be limited in urban areas with people who can afford to purchase computer and smartphones. The problem will hit the extreme poor people and the people in far flung areas that has no access to electricity and internet connection.
I think for the future everyone will definitely follow the technology, because every day the technology is more extraordinary it only takes time. there will definitely be problems faced, that's the challenge.These problem would be solve the technology as well, an idea that allows the legality and usage of bitcoin and cryptocurrency even in rural areas. Let's take an example, as single Radio Frequency Identification card might store cryptocurrency wallet (including private key), as well as the users information and what we just need is to distribute kiosk that will enable them to easily manage their wallet to check for their fund, transfer and more. In this case, the need for mobile phones, and computer will be necessary.
bitcoin is legalize the usage of bitcoin will still be limited in urban areas with people who can afford to purchase computer and smartphones. The problem will hit the extreme poor people and the people in far flung areas that has no access to electricity and internet connection.
I think for the future everyone will definitely follow the technology, because every day the technology is more extraordinary it only takes time. there will definitely be problems faced, that's the challenge.These problem would be solve the technology as well, an idea that allows the legality and usage of bitcoin and cryptocurrency even in rural areas. Let's take an example, as single Radio Frequency Identification card might store cryptocurrency wallet (including private key), as well as the users information and what we just need is to distribute kiosk that will enable them to easily manage their wallet to check for their fund, transfer and more. In this case, the need for mobile phones, and computer will be necessary.
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
If crypto gets regulated and massively adopted, it doesn't necessarily imply that it will fully take over fiat. Fiat money had already our system and it is difficult to replace a system or medium of exchange that had been there for a long time in a snap.
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
Although i think Bitcoin will never global currency in the near future because all of the countries governments will never do legalization. Because you know that a lot reasons in the behind. Fiat money is playing very important role in every country because it’s own currency so that others any virtual currency cannot beat it. Definitely there are many difference between BTC and Fiat Money how you will go to compare with both of coins. There are no chances to carry both of similar values or demands. Jump to: