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 dare to guarantee that the legality of bitcoin will definitely be made for the whole country, the proof is that several countries have made regulations and legalized them under government authority. What do you mean, there is no currency diference? I think even though bitcoin is legalized, it does not mean there is no difference for each currency, all currencies will still be different, all values are different, the legality of bitcoin will not equalize all rates in currencies. and bitcoin becomes the currency or commodity that will depend on the rules that will be made in each country. 
Topic: Bitcoin Legality effect - page 4. (Read 812 times)
I think fiat and cryptos are two absolutely different things. Even if regulators decide to legalize it and bring regulation on it they would definitely not make it a currency for day to day use and replacement of fiat they would only use it as an asset or security in which people can invest and earn returns or hold them for a period of time and such a thing would not have that much effect on fiat. They will still exist and no economy around the world would be hampered with this. Countries too would work normally I think there won't be any change in world economy at all with mere regulation of such kind Only that people would start considering Bitcoin as an investment option.
In some countries, bitcoin can already be used as payment instrument. But not to replace the whole, because in everyday life bitcoin and fiat can be used but the role of fiat is higher when compared to bitcoin. besides being used as a means of payment, bitcoin is also used as a valuable investment asset and also as a place to store value.Bitcoin and fiat are both payment instruments, but regulations prohibit them from being used in various countries. For example Indonesia, they still prohibit bitcoin as a legal payment tool.
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 fiat and cryptos are two absolutely different things. Even if regulators decide to legalize it and bring regulation on it they would definitely not make it a currency for day to day use and replacement of fiat they would only use it as an asset or security in which people can invest and earn returns or hold them for a period of time and such a thing would not have that much effect on fiat. They will still exist and no economy around the world would be hampered with this. Countries too would work normally I think there won't be any change in world economy at all with mere regulation of such kind Only that people would start considering Bitcoin as an investment option. 
There will be no currency difference, yes, but more importantly, over a billion of people will be included in the global economy. Those who are underbanked or completely unbanked can now participate thanks to crpyto. Of course, the arrival of regulations that would make Bitcoin legal is only the first step, and people then must actually be willing to adopt it and use it. They need to be educated about it. There is a lot more to do, even after the legal issue has been handled. Which, by the way, needs to be done throughout the world, as a single jurisdiction or even a few of them won't be enough.
Really? A billion people? There are about twice that number of unbanked people and yes, most of them are like this simply because banks cannot give them accounts, because they either do no live near facilities or they even cannot have status like us normal citizens.
But I don't think crypto is the automatic answer for them. You think they can use Bitcoin easily if they cannot use normal money easily?
We may not hit a billion people but with legalization at hand we will expect tremendous increase of people who will join into the bitcoin community. We may not reach a billions but a million additional users all around the globe is a very big thing for bitcoin. Though we cannot have all people in the world gain access and use bitcoin but at least we can start wit the urban areas and that will be the start of bitcoin mainstreaming. Not only the adults will use if but soon their offsprings and thus in the end we may just hit that billion account in the far future.
How can there be no currency difference?
There will be no currency difference, yes, but more importantly, over a billion of people will be included in the global economy. Those who are underbanked or completely unbanked can now participate thanks to crpyto. Of course, the arrival of regulations that would make Bitcoin legal is only the first step, and people then must actually be willing to adopt it and use it. They need to be educated about it. There is a lot more to do, even after the legal issue has been handled. Which, by the way, needs to be done throughout the world, as a single jurisdiction or even a few of them won't be enough.
Really? A billion people? There are about twice that number of unbanked people and yes, most of them are like this simply because banks cannot give them accounts, because they either do no live near facilities or they even cannot have status like us normal citizens.
But I don't think crypto is the automatic answer for them. You think they can use Bitcoin easily if they cannot use normal money easily?
Ahhh yes, You just that people cannot get access to baking since they have no facilities or make enough to afford to keep one open. Being able to use normal money has nothing to do with it at all. Bitcoin is much easier to use and access and it is much cheaper.
There will be no currency difference, yes, but more importantly, over a billion of people will be included in the global economy. Those who are underbanked or completely unbanked can now participate thanks to crpyto. Of course, the arrival of regulations that would make Bitcoin legal is only the first step, and people then must actually be willing to adopt it and use it. They need to be educated about it. There is a lot more to do, even after the legal issue has been handled. Which, by the way, needs to be done throughout the world, as a single jurisdiction or even a few of them won't be enough.
Really? A billion people? There are about twice that number of unbanked people and yes, most of them are like this simply because banks cannot give them accounts, because they either do no live near facilities or they even cannot have status like us normal citizens.
But I don't think crypto is the automatic answer for them. You think they can use Bitcoin easily if they cannot use normal money easily?
Ahhh yes, You just that people cannot get access to baking since they have no facilities or make enough to afford to keep one open. Being able to use normal money has nothing to do with it at all. Bitcoin is much easier to use and access and it is much cheaper.
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
All values of currency will never be the same, we have to accept that every country have their own pride just like the US and China. Legality of bitcoin will affect so much its price and I'm confident if bitcoin becomes legal on every country its value will be more high and fiat money will just become a second option for us to pay our expenses. It can happen soon, let's believe on this and it will happen but it requires a lot of support from the investors and patience. 
There will be no currency difference, yes, but more importantly, over a billion of people will be included in the global economy. Those who are underbanked or completely unbanked can now participate thanks to crpyto. Of course, the arrival of regulations that would make Bitcoin legal is only the first step, and people then must actually be willing to adopt it and use it. They need to be educated about it. There is a lot more to do, even after the legal issue has been handled. Which, by the way, needs to be done throughout the world, as a single jurisdiction or even a few of them won't be enough.
Really? A billion people? There are about twice that number of unbanked people and yes, most of them are like this simply because banks cannot give them accounts, because they either do no live near facilities or they even cannot have status like us normal citizens.
But I don't think crypto is the automatic answer for them. You think they can use Bitcoin easily if they cannot use normal money easily?
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
There will be no currency difference, yes, but more importantly, over a billion of people will be included in the global economy. Those who are underbanked or completely unbanked can now participate thanks to crpyto. Of course, the arrival of regulations that would make Bitcoin legal is only the first step, and people then must actually be willing to adopt it and use it. They need to be educated about it. There is a lot more to do, even after the legal issue has been handled. Which, by the way, needs to be done throughout the world, as a single jurisdiction or even a few of them won't be enough.
Bitcoin, most likely, will eventually be legalized by most countries of the world, but it, like other types of cryptocurrencies, will not be used more actively by government bodies and business structures than other means of payment. Cryptocurrency, most likely, will mainly be used by individuals and will become one of many types of means of payment.
The national money of states, even in the distant future, will not disappear. The cryptocurrency will develop together with the regular currency and people will use various combinations of their joint circulation.
The national money of states, even in the distant future, will not disappear. The cryptocurrency will develop together with the regular currency and people will use various combinations of their joint circulation.
Legalization is important, it is the secret to achieve a massive adoption. 
Exactly, future bitcoin users are hesistant because of the fact that bitcoin isn't legal yet and not acknowledge by the government and some supporters that have companies or business that wants to promote bitcoin are getting stopped by the legality issues thinkin that they might get sued for it.Whatever the government announced legal the community will follow and get curious about it and try it. This is the key factor to mass adoption.
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
It's already recognized all of the world, and it's been subject to a bunch of regulations. A lot of companies are able to accept and real with bitcoin in the current state.The problem is adoption - not that legal issues. We just don't have enough people who want or are interested in accepting crypto-currencies as a payment method.
People don't like change. Using fiat is much easier and habit for them, which is why BTC might only ever be a secondary currency and it'll likely never replace the top coin.
We could say that the majority are still using fiat at this time and we can't deny it but eventually, we are adopting into the new form of technology that could even help us more and fasten transactions which people appreciated it.
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
It's already recognized all of the world, and it's been subject to a bunch of regulations. A lot of companies are able to accept and real with bitcoin in the current state.The problem is adoption - not that legal issues. We just don't have enough people who want or are interested in accepting crypto-currencies as a payment method.
People don't like change. Using fiat is much easier and habit for them, which is why BTC might only ever be a secondary currency and it'll likely never replace the top coin.
The success of bitcoin is largely due to it being unregulated. You want it to become regulated thinking that it will increase its value but the history is telling us otherwise.
When New York was forming its bitlicense many bitcoiners were happy because they thought that regulation will pave way for institutional investors but it scared everyone away from NY.
Countries with less laws but no or low taxes like Malta and Estonia are what attracts investors.
When New York was forming its bitlicense many bitcoiners were happy because they thought that regulation will pave way for institutional investors but it scared everyone away from NY.
Countries with less laws but no or low taxes like Malta and Estonia are what attracts investors.
my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work?
Even if all the countries recognize and regulate bitcoin fiat currency will continue to perform what they usually does, even if you are looking for a completely digitized world you cannot think that everyone will be transacting using bitcoin as not everyone will be planning to pay a fees with every transaction 
.No in such scenario Bitcoin will be the prime or master currency and other altcoins will be used for doing such transactions with blazing speed. because using Bitcoins for transaction could charge more fees, even take more time to confirm.
which country will be saved by the economy? and which countries are negatively affected?
Countries who have trade restriction could overcome their restrictions by trading in bitcoin and the power houses who impose those restrictions cannot do anything which means it will be a free trade for everyone and there will be no restrictions.The legalization of Bitcoin all over the world is a bit challenging thing for not only just governments but also corporates, bureaucrats and even individuals also. to accept and implement it in day to day world.
In my opinion, By making Bitcoin legal government must have to show interest and give time to educate their people to enhance their knowledge about the digital economy. But it's still a challenging thing for the government to provide a supported environment considering current global conditions about network connectivity and knowledge about usage of Bitcoin.
my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work?
Even if all the countries recognize and regulate bitcoin fiat currency will continue to perform what they usually does, even if you are looking for a completely digitized world you cannot think that everyone will be transacting using bitcoin as not everyone will be planning to pay a fees with every transaction . which country will be saved by the economy? and which countries are negatively affected?
Countries who have trade restriction could overcome their restrictions by trading in bitcoin and the power houses who impose those restrictions cannot do anything which means it will be a free trade for everyone and there will be no restrictions. 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
Most likely, Bitcoin will remain an asset, a means of storing value. The authorities do not want to replace fiat money with Bitcoin. Bitcoin kills centralisation, so it kills power, no one Big wants it. However, in my opinion, some countries still recognize Bitcoin and it will be legal there.
This doesn’t make any sense. For one, bitcoin is a deflationary currency with a fixed supply. Sure enough governments can’t really do much using it for fixing their economies and would still need something that does the job pretty well which is fiat. They can go as to dividing whatever bitcoin reserves they have in their arsenals to the tiniest bit but that’s about it, and it would still be dependent on the current valuation of bitcoin for them to make things work.
I think Bitcoin can help fix a country's economy. We all know that Bitcoin is an emerging currency and with it, is the blockchain technology. Any country that became friendly to Bitcoin offers a good deal with it and start-ups can boom on that country which means, more job, taxes that can help in terms of livelihood and funds. It can help the country to appear in the world in a sense that news everywhere will pop up regarding Bitcoin start-up booming in this country thus tourism in that country may boom too depending on how the country take advantage of the exposition. It is a domino effect.
There is no way to form this type of platform following the current world situation, but in the future, the legality of Bitcoin regulation will bring a positive view toward the platform, I think then cryptocurrency will also work simultaneously, it will be a healthy competition for the cryptocurrency and this platform surely will bring a lot of benefit for the people, not only that but also for the shake of this platform's sustainability, legal regulation must be needed. I wish this legal regulation will form soon then the popularity of Bitcoin will increase rapidly, but one currency's theory is not comfortable to me, I don't think this will bring any positive thing within this system.
my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work?
Assuming Bitcoin achieved global adoption and acceptance, I think fiat currencies will still exist because there will always be a demand for it as a medium of exchange! Hypothetically, as long as there is one person in this world willing to accept or prefer fiat as a payment or a medium of exchange, then I guess fiat will never go extinct because there is still a demand for it.
National sovereignty stand in the way of Bitcoin becoming a global reserve currency, so do not expect Bitcoin to replace any Fiat currency anytime soon. Most countries have a very personal and close relationship with their own reserve currency and they have spend years to manipulate and strengthen these fiat currencies. 
Something that you might see in the future are countries developing their own Blockchain based digital currencies or even some Alt coin linked to some asset to use as a reserve currency.
Something that you might see in the future are countries developing their own Blockchain based digital currencies or even some Alt coin linked to some asset to use as a reserve currency.
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