Topic: What would happen if Bitcoin became a legal currency? - page 16. (Read 33690 times)
The entire world can't wait around to welcome this news since it will provide financial transformation in each aspect of our lives. Bitcoin turning out to be a legal tender will deliver freedom in payments , low transactional charges, transparency and stability in our payments will be enhanced because of to the blockchain technological innovation powering it. I feel it will even eradicate earnings taxes.
Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
If this is to happen world over it would mean high bitcoin prices as demand would grow faster than the current supply in circulation and some altcoins would ride this wave of bitcoin legalization making long time hodlers rich.Bitcoin is not going to become legal currency
Its already declared legal in some countries and I honestly see other countries following suit as technology keeps getting advanced....so its just a matter of time before this happens 
when I view the Mr robotic series hackers are inclined to just hack cryptocurrencies like no a single is seeing them if this would be authorized several laptop hackers will just walk around acquire things with their stolen bitcoin on-line I never feel it is a great notion, for now that internet stability is not frequent.
Real life is a lot different from movies. Movies show hackers doing cool stuff in minutes but in reality nothing is like that. It takes months to do great things even in the world of hacking. Bitcoin has used SHA256. Just check the security level of this hash. 
Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
It depends if you are telling that bitcoin will be use in every transaction happens in our daily lives, because as you can in our society , paper money is widely used in a certain place and I think before it would happen that bitcoin will be use everywhere someone must conduct a free and quality WiFi worldwide and its kinda possible to happened cause it may take large amount of money so better that if bitcoin was legalized worldwide paper money must still be use for those who are not yet ready to accept bitcoin.
Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
In my own opinion, if bitcoin was accepted by the government we could now use bitcoin as a payment for every stores and almost everyone will use bitcoin as a source of income. I also think if bitcoin become a legal currency, i think we will pay taxes to the government which is unfair and i really wish that couldn't happen.
when I view the Mr robotic series hackers are inclined to just hack cryptocurrencies like no a single is seeing them if this would be authorized several laptop hackers will just walk around acquire things with their stolen bitcoin on-line I never feel it is a great notion, for now that internet stability is not frequent.
If bitcoin is accepted, it will begin to be taxed and lose its anonymity, which will lead to loss of interest on the part of users. Therefore, probably many do not rush to legalize it so as not to lose interest of users.
Of course goverment will imposed tax to all bitcoin holders. Not totally it lose interest for the users and investors because of having tax, but it will give interest and trust to the retailers and establishment to start accepting bitcoin as a mode of payment in their services offered. Because they already the identity of the person who are transacting with them.
We need mass adoption.
it seems not so easy if bitcoin really has become the official currency, because so far bitcoin always fix the security system they have applied to anticipate from the thieves / hackers.
when I observe the Mr robotic collection hackers are likely to just hack cryptocurrencies like no one is viewing them if this would be authorized a lot of computer hackers will just walk around buy things with their stolen bitcoin on the web I do not think it really is a excellent concept, for now that internet protection is not frequent.
If bitcoin is accepted, it will begin to be taxed and lose its anonymity, which will lead to loss of interest on the part of users. Therefore, probably many do not rush to legalize it so as not to lose interest of users.
I agree and you are definitely right on the thing that you said because if bitcoin would be considered or being legalized as a currency then for sure it would comes to a point that it is centralized already since it would really need to comply the things on which government would like to happen in to it which means people who do interest on its anonymity will surely lost its interest. 
If bitcoin is accepted, it will begin to be taxed and lose its anonymity, which will lead to loss of interest on the part of users. Therefore, probably many do not rush to legalize it so as not to lose interest of users.
The planet cannot hold out to welcome this information simply because it will deliver financial transformation in each and every aspect of our lives. Bitcoin turning into a lawful tender will bring liberty in payments , lower transactional charges, transparency and stability in our payments will be increased owing to the blockchain engineering powering it. I think it will even eradicate revenue taxes.
It will be great if bitcoin accepted become legal currency, it will be easier for us to use and spend bitcoin, all transaction will become easier
So if bitcoin become legal it will bring a lot of great impact especially from economy side
So if bitcoin become legal it will bring a lot of great impact especially from economy side
True, given the fact that bitcoin is a simple , irreversible, and decentralized crypto-currency in which power were equally distributed to the forum users and account and profits may only be access by its owner, but accept the fact that theresw no sucb perfection, if bitcoin was legalized worldwide I think tax may come forward and government may do something for them to control it.
The very first factor - It is dependent if Bitcoin will be recognized just in 1 country or around the world.I suppose it indicates that we would be ready to use bitcoin as secondary, official forex, for acquiring/offering items, many retailers would accept Bitcoin, we would have a lot more Bitcoin ATM's, bitcoin debit playing cards and so on.
Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
If bitcoin bitcoin become legalize, it addends the chance for it to be corrupted. Why?? If the bitcoin will be legal therefore it is now under the government. Hence, corruption will possibly occur. I addition, if bitcoin will be legalize, we need to pay taxes for it and I don't like for it to happen.
Bitcoin is not going to become legal currency and it is greater this way that way governments cannot impose the same rules that other currencies have.
If the bitcoin became a legal currency, I think 1/4 of users income were get by the government due to the tax given. Also most of the gambling site were been closed because of legality. That's why it was hard to us if the owner decided to become legalize the bitcoin.
The percent of taxes is different in different countries, for example, in Serbia where I live it's 42% and in Russia where I lived before it was only 13%. So the value of taxes is going to be depended from the current government and law situation. I am sure we will not be able to skip this part of bitcoin adoption.Once mass adoption completely happen,government might make it a way to put taxes on it and to get money from it. Though it will have a long run of study to make it happen.
Yes I think that it is very likely for the government to impose taxes on bitcoin transactions and may even make some restrictions. They may make some regulations so that bitcoin transactions may be tracked, and may even limit its use and storage. Hopefully, the government regulations won't hinder or deprive the bitcoin owners and users.
Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
If bitcoin gets legalized,then immediately we would see a great increase in demand for bitcoins and hence increase in its price also.We just witnessed it before few months in japan when it got legalized there.When bitcoin gets legalized,all traders come forward to accept bitcoin as payment.People get more trust in bitcoin since government has accepted it.So,its usage gets increased.But at the same time,bitcoin earnings would be taxd if it gets legalized.Taxes will not be a problem if all the market attention is very big to bitcoin, our income can increase sharply and able to create more from various platforms. The most important thing in the currency business is traffic and volume. I imagine that bitcoin is acceptable to all public business retailers and we only use smartphones for transactional actions, but bitcoin will make things easier.
If we are only fixated on taxes, we can imagine if the condition of fiat is like bitcoin at this time, of course we have become super rich, and after tax is applied into fiat also we can still enjoy it comfortably.
Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
If bitcoin gets legalized,then immediately we would see a great increase in demand for bitcoins and hence increase in its price also.We just witnessed it before few months in japan when it got legalized there.When bitcoin gets legalized,all traders come forward to accept bitcoin as payment.People get more trust in bitcoin since government has accepted it.So,its usage gets increased.But at the same time,bitcoin earnings would be taxd if it gets legalized. Jump to: