Topic: What would happen if Bitcoin became a legal currency? - page 23. (Read 33690 times)
Bitcoin is already a legal currency, it's just not a an official currency of any country yet.
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?
Yes it's true everyone who are using bitcoin would like bitcoin to be accepted by the government so we can use bitcoin to buy in online stores and real stores. If bitcoin became a legal currency we don't need to convert bitcoin as a real money and we can now store it or put it in the banks.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?
Yes it's true everyone who are using bitcoin would like bitcoin to be accepted by the government so we can use bitcoin to buy in online stores and real stores. If bitcoin became a legal currency we don't need to convert bitcoin as a real money and we can now store it or put it in the banks.You are right, but that also can be a good news for bitcoin. People will start notice bitcoin and the price of bitcoin itself can increase too. imagine if the price of bitcoin going rockets and bitcoin will be same as gold.
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?
Yes it's true everyone who are using bitcoin would like bitcoin to be accepted by the government so we can use bitcoin to buy in online stores and real stores. If bitcoin became a legal currency we don't need to convert bitcoin as a real money and we can now store it or put it in the banks.
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?
Yes it's true everyone who are using bitcoin would like bitcoin to be accepted by the government so we can use bitcoin to buy in online stores and real stores. If bitcoin became a legal currency we don't need to convert bitcoin as a real money and we can now store it or put it in the banks. 
Yes, but and about the "collateral effects"? It became legal, but won't they ask anything back?
Like wallets (Coinbase for an example), they didn't charge fees by sending transactions there, but they didn't allow you to send money to gambling sites, and depending some other sites were forbidden too. And there is the Sportsbet too (regulated), they watch gamblers balances, withdraws: If you withdraw an amount bigger than X (I think 20 BTCs) you need to show ID and all related things
Like wallets (Coinbase for an example), they didn't charge fees by sending transactions there, but they didn't allow you to send money to gambling sites, and depending some other sites were forbidden too. And there is the Sportsbet too (regulated), they watch gamblers balances, withdraws: If you withdraw an amount bigger than X (I think 20 BTCs) you need to show ID and all related things
I've never heard that Coinbase was prohibiting payments to certain sites
Really, how would they know that a certain Bitcoin address belongs to a certain gambling site? In fact, a few years ago I was quite regularly sending coins from my Coinbase wallet to PrimeDice casino without having any issues (though rarely in the reverse direction, wtf). Regarding your other point, namely, that Bitcoin legalization brings about regulation, this seems to be inevitable but it largely concerns Bitcoin to real world transactions (like using bitcoins as payment for online stuff). Anyway, as long as you remain in the realm of Bitcoin exclusively, I guess you can safely forget about any such regulations
Well if bitcoin will became a legal currency, definitely it has to be controlled by the government/bankers. I guess bitcoin is part of the evolution of our legal currency. Let see what will happen next. It depends on the peoples acceptance.
Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
Bitcoin was already being legalized in some countries namely Japan. Japan declared last April1, 2017 that they are going to adopt bitcoins as a form of payment in purchasing goods and services. Another country will be also following the footsteps of Japan and it will be Australia. With Japan and Australia having accepted bitcoin we will experience bitcoins value going up to 5k US dollars this year.
If Bitcoin becomes a legal currency worldwide, this is a great and great advantage for BItcoin users around the world. We will be comfortable using Bitcoin without fear of its legality, transactions can also be made easier between everyone. However, Bitcoin may also be taxed. But I think it will take a long time to happen because currently Bitcoin is only recognized in some countries, many people still do not know Bitcoin, need to make Bitcoin popular with more people.
Most likely bitcoin will be taxed and will lose popularity among users, so let it better and remain.
If Bitcoin becomes a legal currency worldwide, this is a great and great advantage for BItcoin users around the world. We will be comfortable using Bitcoin without fear of its legality, transactions can also be made easier between everyone. However, Bitcoin may also be taxed. But I think it will take a long time to happen because currently Bitcoin is only recognized in some countries, many people still do not know Bitcoin, need to make Bitcoin popular with more people.
On my point view, this could be a great suggestion, i mean every transaction would be easy.
Nevertheless, the security must greatly focused on. Online transaction is very dangerous.
Nevertheless, the security must greatly focused on. Online transaction is very dangerous.
To be honest, I have not yet thought about legalizing Bitcoin and how it will affect me, but I'm sure that the state will very quickly react to all Bitcoin users in terms of paying taxes. It seems to me that with this probability every Bitcoin user will have to reconcile and of course the State will never miss the opportunity to rip off a person.
Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
That's right! Legalization of bitcoin can give us many good benefits that will help us in our daily life. Also, the price of bitcoin will also increase as more and more users will also use bitcoin in their online transactions. Hopefully that the time where we will start accepting bitcoin as currency is within arms reach. 
Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
Legalization of the government will certainly provide many conveniences afterwards. There will certainly be many stores that will accept bitcoin as a payment option. So you will have no trouble in spending bitcoin.
Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
Legalization of the government will certainly provide many conveniences afterwards. There will certainly be many stores that will accept bitcoin as a payment option. So you will have no trouble in spending bitcoin.
If Bitcoin became a legal currency, paper money will die. Because if the bitcoin currency were became legalized, digital era ware become more powerful. Also during that time most of the users were spend a lot of time to earn bitcoin.
Aren't you liking how the BTC price is rising since it was created? So why do we need Bitcoin legalized by countries? Do you really think it would bring benefits?
I don't think so... Legalization brings regulamentations that bring extra rules when using the currency. You already have an idea about it by looking Coinbase, Xapo and any other regulamented service. It's the end of your pseudo anonymously, it's the end of the decentralized advantages we have at this moment. I hope countries don't interfer in BTC usage.
I don't think so... Legalization brings regulamentations that bring extra rules when using the currency. You already have an idea about it by looking Coinbase, Xapo and any other regulamented service. It's the end of your pseudo anonymously, it's the end of the decentralized advantages we have at this moment. I hope countries don't interfer in BTC usage.
Its already legal on Japan and it affected its price so much that holder didn't thought it could go up to $1800 this early. If it could be legal to a number of countries specially China, we'd all be seeing a good amount of cash even when you just have few btc in your wallet.
Yes, but and about the "collateral effects"? It became legal, but won't they ask anything back?
Like wallets (Coinbase for an example), they didn't charge fees by sending transactions there, but they didn't allow you to send money to gambling sites, and depending some other sites were forbidden too. And there is the Sportsbet too (regulated), they watch gamblers balances, withdraws: If you withdraw an amount bigger than X (I think 20 BTCs) you need to show ID and all related things...
Good to see that the price increased, I just worry about what comes next...
I wouldn't be so sure about all this. Sure if it becomes widely adopted it would be great! Theoretically it could go up in value exponentially. However, the amount of regulatory pressure that it would see could very easily stifle it. Also that same pressure could force expansion of the blocks. Part of what makes it so valuable is that it has become an investment vehicle, not an item for making transactions.
Aren't you liking how the BTC price is rising since it was created? So why do we need Bitcoin legalized by countries? Do you really think it would bring benefits?
I don't think so... Legalization brings regulamentations that bring extra rules when using the currency. You already have an idea about it by looking Coinbase, Xapo and any other regulamented service. It's the end of your pseudo anonymously, it's the end of the decentralized advantages we have at this moment. I hope countries don't interfer in BTC usage.
I don't think so... Legalization brings regulamentations that bring extra rules when using the currency. You already have an idea about it by looking Coinbase, Xapo and any other regulamented service. It's the end of your pseudo anonymously, it's the end of the decentralized advantages we have at this moment. I hope countries don't interfer in BTC usage.
Its already legal on Japan and it affected its price so much that holder didn't thought it could go up to $1800 this early. If it could be legal to a number of countries specially China, we'd all be seeing a good amount of cash even when you just have few btc in your wallet.
Aren't you liking how the BTC price is rising since it was created? So why do we need Bitcoin legalized by countries? Do you really think it would bring benefits?
I don't think so... Legalization brings regulamentations that bring extra rules when using the currency. You already have an idea about it by looking Coinbase, Xapo and any other regulamented service. It's the end of your pseudo anonymously, it's the end of the decentralized advantages we have at this moment. I hope countries don't interfer in BTC usage.
I don't think so... Legalization brings regulamentations that bring extra rules when using the currency. You already have an idea about it by looking Coinbase, Xapo and any other regulamented service. It's the end of your pseudo anonymously, it's the end of the decentralized advantages we have at this moment. I hope countries don't interfer in BTC usage.
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