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Topic: If bitcoin will accepted worldwide for legal then price rising $100k?? - page 8. (Read 1530 times)

MiF
sr. member
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If btc is legally accepted in all countries then huge number of investors will increase. and the use of btc in various fields will increase.

what is your opinion about this?
Yes it is, more users more demand and price will surely rise,it is already happening if we look at the price from year 2010 it is very low and because of the adoption the price in year 2021 increase up to 60k$ and few years from now if the adoption rise drastically the price of btc may go up to 100k$ or even more.
hero member
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Before it was accepted worldwide, Bitcoin was already worldwide. Investors are starting to compete to get Bitcoin as much as they can, the influence that Bitcoin has has made several large companies begin to adapt to this most phenomenal technology.
Bitcoin does not need recognition from any country, its presence has been accepted by investors all over the world due to the convenience offered by Bitcoin. Several countries have started to open their doors to welcome the arrival of Bitcoin, they are very aware of the functions and uses of Bitcoin, even though Bitcoin is not getting recognition in several other countries, Bitcoin is still Bitcoin which is increasingly being accepted by all people around the world.
I think some of your assumptions are justified especially regarding the worldwide presence of bitcoins. Bitcoin was created for alternative options as a means of payment regardless of how governments regulate it, but so far most of the adoption issues have been due to unsupportive regulations.

Government recognition through regulation is necessary even if you don't need regulation to use, receive, and send bitcoins. Regulation plays a key role in getting more use out of bitcoins in their actual use cases instead of hiding while using them. If the government supports bitcoin, then the use cases for bitcoin as a means of payment will probably be higher every year.
sr. member
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If btc is legally accepted in all countries then huge number of investors will increase. and the use of btc in various fields will increase.

what is your opinion about this?
Bitcoin not be a legal tender across the nations is not what makes investors not invest in bitcoin  largely, because I believe that bitcoin  is still have more firms and also have influence,  making bitcoin  a legal tender will make bitcoin to depart from digital currency, if bitcoin remain like this it  have more recognition and value than when it's been legalized
Before it was accepted worldwide, Bitcoin was already worldwide. Investors are starting to compete to get Bitcoin as much as they can, the influence that Bitcoin has has made several large companies begin to adapt to this most phenomenal technology.
Bitcoin does not need recognition from any country, its presence has been accepted by investors all over the world due to the convenience offered by Bitcoin. Several countries have started to open their doors to welcome the arrival of Bitcoin, they are very aware of the functions and uses of Bitcoin, even though Bitcoin is not getting recognition in several other countries, Bitcoin is still Bitcoin which is increasingly being accepted by all people around the world.
full member
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Only certain governments want to accept Bitcoin and make it legal in their country, because maybe the government really likes Bitcoin so they want to accept it. This is about the knowledge and also the government's preference for Bitcoin, because without them knowing and wanting to like it, there will definitely never be a realization to legalize Bitcoin in their country.

And for the reason that some governments can't control Bitcoin, I don't think that will affect the price of Bitcoin either because Bitcoin will keep increasing over time. I am also optimistic about the price of Bitcoin for the future, because as long as there is demand and supply in the market, Bitcoin will still be able to increase. Although not as many people expect.
Governments only care about one thing which is taxes and in order for bitcoin to be legalized in a nation all we have to do is convince them that bitcoin would be profitable business for them. I am not saying that it will be simple but it is definitely something doable and that's what matters to everyone. Of course in order for that to happen we need to make sure that we are at a stage where we can make enough profit with it, otherwise it is going to be a bit harder.

If we do have a lot of volume which means there are a lot of money to be taxed then we can convince the governments a lot easier. Do not get taxed for just holding, but you can get taxed a small amount for each profitable trade, or just in general each trade, and that would be super profitable for them.

You are right, no government hates taxes, but convincing them to accept bitcoin is not easy. Because bitcoin is still decentralized, and they still can't control it even if it's legal. That will make it harder for the government to collect taxes and control the people, I think that's the key point that the government has so far not wanted to accept bitcoin mass.

We are paying taxes because we are tightly regulated, but if there is something that makes us anonymous and can evade the government. I don't think many people will want to pay taxes, that might be the government's concern when considering bitcoin.
legendary
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Only certain governments want to accept Bitcoin and make it legal in their country, because maybe the government really likes Bitcoin so they want to accept it. This is about the knowledge and also the government's preference for Bitcoin, because without them knowing and wanting to like it, there will definitely never be a realization to legalize Bitcoin in their country.

And for the reason that some governments can't control Bitcoin, I don't think that will affect the price of Bitcoin either because Bitcoin will keep increasing over time. I am also optimistic about the price of Bitcoin for the future, because as long as there is demand and supply in the market, Bitcoin will still be able to increase. Although not as many people expect.
Governments only care about one thing which is taxes and in order for bitcoin to be legalized in a nation all we have to do is convince them that bitcoin would be profitable business for them. I am not saying that it will be simple but it is definitely something doable and that's what matters to everyone. Of course in order for that to happen we need to make sure that we are at a stage where we can make enough profit with it, otherwise it is going to be a bit harder.

If we do have a lot of volume which means there are a lot of money to be taxed then we can convince the governments a lot easier. Do not get taxed for just holding, but you can get taxed a small amount for each profitable trade, or just in general each trade, and that would be super profitable for them.
hero member
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If btc is legally accepted in all countries then huge number of investors will increase. and the use of btc in various fields will increase.

what is your opinion about this?
Bitcoin not be a legal tender across the nations is not what makes investors not invest in bitcoin  largely, because I believe that bitcoin  is still have more firms and also have influence,  making bitcoin  a legal tender will make bitcoin to depart from digital currency, if bitcoin remain like this it  have more recognition and value than when it's been legalized
legendary
Activity: 1022
Merit: 1341
Countries adopting bitcoin will help with the increasing usage, but this doesn't assure with the increasing price of bitcoin. The bitcoin market is not as that of the stock market, the functioning is all about the demand to the supply. The price of bitcoin have increased with time along with the adoption and that hadn't got the price moving.

Governments make plans to have their dominance, for that reason every country won't get into bitcoin adoption. The price of bitcoin increases unexpectedly. During every ath the price of bitcoin increases unpredictable. So, adoption worldwide could happen someday, but that isn't the reason for the rise of price.
If all the countries adopt bitcoin in the world the population of the users will definitely increase and it will increase in the circulation of bitcoin in the globe. But the movement of the price might still the way it is now. Because bitcoin price is not something that increase instant but it follows a rigorous process. The number of people that use bitcoin and the price increase are two different things all together.
legendary
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Obviously possible... //....  So if all counties recognised bitcoin then definitely it would cross more than $100k...

The thing is, you agree to something that is based on "bitcoin in wonderland" with the connotation of "Alice...   "

In fact, why not a 1kk, the price is not relative to the acceptance of bitcoin, it is what is believed but the price variable does not always have to be associated with certain parameters, the fact that bitcoin is accepted "legally" does not necessarily it helps to people/bitcoin.

Then, it actually happens bitcoin is used in "the shadows" of certain countries either due to lack of legislation or that gray point of the law for its use legal status, that is, adoption is a Pandora's box with the price.
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If btc is legally accepted in all countries then huge number of investors will increase.
The possibility is high, it's not the number of countries but more on people who know about Bitcoin and have invested in it, Bitcoin may be accepted in one country legally but if a number of investors are not buying more then the price is not likely to skyrocket

 
Quote
and the use of btc in various fields will increase.
There is a big difference between the holders and users, countries cannot use Bitcoin as their only legal tender Bitcoin is an asset I doubt if the majority of countries that accept will use it as their main currency. 

hero member
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That's just your expectation which need a lots of time to come true cause most of the countries already ban bitcoin. Some countries are planning so and the Only reason, they can't Control bitcoin! So it is hard that bitcoin will be accepted worldwide soon but that's possible maybe many years later. Now Let's talk about price!  Bitcoin doesn’t care about government acceptance cause people from most of the countries, already recognised bitcoin as well as invested with it. And this thing is keep going. So i'm optimistic that, bitcoin price will break $100k record within few years.

Only certain governments want to accept Bitcoin and make it legal in their country, because maybe the government really likes Bitcoin so they want to accept it. This is about the knowledge and also the government's preference for Bitcoin, because without them knowing and wanting to like it, there will definitely never be a realization to legalize Bitcoin in their country.

And for the reason that some governments can't control Bitcoin, I don't think that will affect the price of Bitcoin either because Bitcoin will keep increasing over time. I am also optimistic about the price of Bitcoin for the future, because as long as there is demand and supply in the market, Bitcoin will still be able to increase. Although not as many people expect.
hero member
Activity: 3038
Merit: 634
More acceptance = more demand.

That's it and from there you'll have the idea from what's next. So, if many will accept Bitcoin then that will result in a higher demand and with the law of supply and demand.

There goes the higher price that we'll see soon and not just that, we'll about to see the halving and with all the different factors that will trigger a higher price, it's only a matter of time to see both of it you're asking.
hero member
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Countries adopting bitcoin will help with the increasing usage, but this doesn't assure with the increasing price of bitcoin. The bitcoin market is not as that of the stock market, the functioning is all about the demand to the supply. The price of bitcoin have increased with time along with the adoption and that hadn't got the price moving.

Governments make plans to have their dominance, for that reason every country won't get into bitcoin adoption. The price of bitcoin increases unexpectedly. During every ath the price of bitcoin increases unpredictable. So, adoption worldwide could happen someday, but that isn't the reason for the rise of price.
full member
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That's just your expectation which need a lots of time to come true cause most of the countries already ban bitcoin. Some countries are planning so and the Only reason, they can't Control bitcoin! So it is hard that bitcoin will be accepted worldwide soon but that's possible maybe many years later. Now Let's talk about price!  Bitcoin doesn’t care about government acceptance cause people from most of the countries, already recognised bitcoin as well as invested with it. And this thing is keep going. So i'm optimistic that, bitcoin price will break $100k record within few years.
sr. member
Activity: 2366
Merit: 332
If btc is legally accepted in all countries then huge number of investors will increase. and the use of btc in various fields will increase.

what is your opinion about this?

This is possible but for now don't hatch your eyes before they are layed. Go with the current trend and invest just how much you can handle and not to rush in with borrowed money with the hope that the time for price increase has come. Adoption of bitcoin is a gradual step like it is having some legislative support from EU in trying to have a regulation on the system as far as they can. It is a gradual process, be wise and don't carry all you can not.
legendary
Activity: 3052
Merit: 1188
we can do bitcoin transactions as long as there is an agreement between the two parties without government permission. But the role of the government cannot be denied because if they ban us from using and trading bitcoins, we will surely have a lot of difficulties when using bitcoin. The government is still running this world, and we are still living under their rule, so don't think they are nothing.
Are you brave enough to use bitcoin publicly if they ban bitcoin, and do you want to use bitcoin freely and openly or hide and trade in the dark?
Government can't really "ban" you from doing it, they can make it illegal to do it, but they can't stop you from doing it. Biggest example would be; you can't steal someone's money from their pocket right? That's illegal and not allowed, but you CAN do it, correct? You can go out today, steal someone's money, that's possible, you can do it.

Of course if you are caught then you would be jailed and then prisoned, so that is what illegal means, and bitcoin trading could be illegal, meaning you can still trade it if you want to, but if you get caught then you are going to end up with a trouble. All in all, I am guessing that the best thing to do right now would be making sure that it's going to take a while and we are going to live a tougher time without a doubt.
hero member
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If btc is legally accepted in all countries then huge number of investors will increase. and the use of btc in various fields will increase.

what is your opinion about this?

Adoption doesn't necessary mean the price will increase but Bitcoin will begin to be used as a currency. There's an anticipations that when bitcoin will be accepted worldwide that the price will increase and that's why many investors are buying Bitcoin to hold and be expectant.

Example, when adoption happends, investors would have nothing left to be expecting and may reduced their interest. One of the many things making people interested in Bitcoin is the volatility of the market, if that was to stop happening many people will lose interest.

Bitcoin adoption doesn't have any direct relationship to do with Bitcoin price, but it'll make Bitcoin to become more global and more people will get to know about bitcoin which will increase the number users getting involved. With Bitcoin adoption the usage of Bitcoin increase.
legendary
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Making bitcoin a legal tender isn't important before it can be used by a country. As long as bitcoin is legalize worldwide then it is possible for a lot of people to embrace bitcoin as an alternative currency to fiat. If bitcoin is accepted by the whole world a lot of investors wouldn't sell their bitcoin because it will be appreciated and kept idle in their wallet since it is also a store of value

Yea, I quit reading some meaning to this, and you are right. Bitcoin doesn't even need to be approved by the government to be accepted as legal tender. The reason is because the vision Satoshi had for Bitcoin was to be accepted as a means of payment through P2P, which means I don't need the federal government to approve Bitcoin before I can carry out a transaction, for example, with you (@frankolala). As long as you are a Bitcoin user and you agree that I can pay you with Bitcoin, then we can initiate a P2P transaction. That's what Bitcoin is all about. Bitcoin is for people who, genuinely on their own, have learned about Bitcoin or agreed to it, embrace it, and decide to use it. All this push for Bitcoin to become legal tender is not even making sense to me again.



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Right, we can do bitcoin transactions as long as there is an agreement between the two parties without government permission. But the role of the government cannot be denied because if they ban us from using and trading bitcoins, we will surely have a lot of difficulties when using bitcoin. The government is still running this world, and we are still living under their rule, so don't think they are nothing.
Are you brave enough to use bitcoin publicly if they ban bitcoin, and do you want to use bitcoin freely and openly or hide and trade in the dark?
sr. member
Activity: 546
Merit: 342
It will take time for bitcoin to become legally accepted in very country, and even before that time which is a long time from now bitcoin may have already reached this $100k price that you have set as target. there are many events that will favor bitcoin and influence the price positively, and also with the halving which is happening soon, there are still many predictions on the amount it will take the price of bitcoins to. Even if the halving does not carry the price up, it will take it to an amount close for other events to take the price to $100k.

If bitcoin is accepted everywhere, it does not mean that the price will rise quickly. Bitcoin has pretty slow transactions and a cumbersome blockchain. I still think bitcoin will probably be replaced by something else before it goes above 100,000. I hope I'm wrong.
I hope you are definitely wrong on this notion but all the same you are still giving your own opinion but I feel bitcoin is here to stay although I feel its going to take a really long time before bitcoin reaches hundred thousand but I feel that number is attainable, lets just look at some years back every investor or bitcoin lover would have probably thought same if BTC will actually climb up to 50k looking at how low the price was from the onset of it creation but later is the case and bitcoin successfully achieved and even surpassed 50k so 100k is sometime of just mere time interference.
hero member
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If btc is legally accepted in all countries then huge number of investors will increase. and the use of btc in various fields will increase.

what is your opinion about this?

I don't think this is why Bitcoin is going to reach 100k USD soon, because all the countries that invested so much time and effort to ban crypto currencies are not going to change their mind so suddenly. First of all most countries still allow their citizens to invest in Bitcoins, there some crypto regulations but no outright bans. Which means that even all the world would allow free crypto investing, there wouldn't be a lot of new investors all of sudden. And secondly, I am sure that Bitcoin will manage to reach 100k USD in it's current form without many new investors, probably next year after the halving or in 2025 latest. Bitcoin can already be used in many cases and it's up to all off us to increase the use of cryptos in our daily life.   
full member
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Obviously possible. Bitcoin are allowed in few counties and with such condition, bitcoin hit $67k milestone in 2021 bull run. So if all counties recognised bitcoin then definitely it would cross more than $100k. Even i assume, it will cross the $100k target without country acceptance, durning next bull run cause crypto industry getting popular daily and people consistently joining this industry instead of going to share market/stock market. So i agreed with op what he is predicted
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