What would happen if Bitcoin became a legal currency? - page 3.

coinic

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Quote from: BitsandBites on June 08, 2016, 10:07:46 AM

i dont think there would be any change the only thing is that some countrys may put some fees on it futrther i dont think there would happen allot with the coin for sure.

Absolutely bro, if btc will be legal then the amount rates of btc will go high as the demand is high. Then tax rates will be implemented for btc. It could be good but we can not deny it can affect us too. Those who have big amounts in btc in this community will/shall pay for taxes. It is just in my opinion.

Granxis

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Quote from: alrez on March 12, 2018, 08:40:56 AM

I still hard to imagine if bitcoin becomes a legal currency. because there is no bitcoin form as physically. But I think it would be more practical if bitcoin is used in trading and sale of goods. because there is no need to bring currency to the transaction.

Bitcoin has been banned in many countries as it has become legal in many countries. I do not think it is important for Bitcoin to become legal to be more valuable, it is important that Bitcoin is not banned.

Sinamail17

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There are already some small countries that use Bitcoin as a legal currency for circulation.

alrez

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I still hard to imagine if bitcoin becomes a legal currency. because there is no bitcoin form as physically. But I think it would be more practical if bitcoin is used in trading and sale of goods. because there is no need to bring currency to the transaction.

Freddie Aguiluz

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Quote from: Bitshake on June 08, 2016, 05:41:44 AM

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?

Bitcoin are legal to some stores, but only few. But when the time comes that bitcoin is legal in all nation, it will be easier to get access on everything online. You can buy without cards and any other hard to do payments. Every one will have access on buying export products and other things that are on the internet.

maichimoto

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Quote from: Bitshake on June 08, 2016, 05:41:44 AM

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?

Bitcoin already is a legal currency in Japan as far as I know. It's getting close to that in South Korea either. You can see what is happening, people are putting more attention towards bitcoin at those countries

Mark 360

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If bitcoin becomes legal currency then it will get stabilized and people will use it as a good alternative currency for online purchases.

gawer33

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at the current state of BTC, it will never be. to be a currency widely adopted by many it should be fast(sometimes it lags behind) cheap transaction most of the tome BTC fee's is ridiculously high.

Palmholder

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If bitcoin will become a legal currency then prices of national currencies should descrease because of fair competition. New range of people will receive an opportunity to prosper, someone does not even have a passport today, someone is not allowed to leave a country, everyone is limited I mean, but almost anyone will be able to create bitcoin privat key and act independently

Ondongeric18

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https://i.imgur.com/Wl0rfMA.jpg

As or now while bitcoin is yet unstable or volatile, if it will become a legal currency, there would be too many problems encountered. Its volatility could ruin the price of something like products and or any online transactions made. This makes it difficult to transact business not unless if such price during transaction can remain unchanged and is guaranteed by the transacting partners.

romeo23

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Mostly there would be a big decline in cash handling since bitcoins only exist as a virtual currency.I presume there would be some changes to accounting practices as well...But it really depends how fast the transition would be. If it is gradual, more citizens will be able to participate in the economy since Bitcoin wallets are easier to get than a bank account.

sevenbits

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I think it's not the investors, but when society accepts crypto. Now a lot of people, on the habit of trusting traditional means of exchange and this strongly inhibits the development of crypto in this direction

Crafts12

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Quote from: bib24 on February 20, 2018, 03:39:35 PM

It will be a good news to all bitcoin users. If it was legalized then its easier for us to used our bitcoins in our daily activities the same way we spend fiat currency, however their might be a great chance that tax will be implemented.

Exactly, its usage will spread also. If bitcoin was legalized as a currency we dont need to convert it into fiat before we used it. We can freely used it by itself. But I think there are still doesnt want it to happen. Why because they are aftaid that if government have access on it, it will be controlled and make not cause good if the government wont manage it well or maybe become greedy on it.

ButtCrack

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Quote from: KrisAlex18 on March 09, 2018, 04:53:43 PM

Quote from: Bitshake on June 08, 2016, 05:41:44 AM

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?

I think there's a large possibility that bitcoin would become legalized worldwide since the influence of it has been improving a lot since there are different ways to dessiminate the news about it already since technology has improved a lot lately. If ever bitcoin became legalized worldwide, it will surely end up being prioritized by many and it would surely bring great convenience to many which will attract more users and investors.

First of all, we need to find the interesting point of Bitcoin can attract the "normal" user, not only investor, trader are the user of Bitcoin if it can becomes one of currenecies for the world someday. Transaction fees is useful for global transfer money, but for national transaction, it is useless. The value is unstable with strong volatility everyday. Only two factors are enough to make Bitcoin can not become the best option for the normal user.

lopez cryptomania

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Quote from: Bitshake on June 08, 2016, 05:41:44 AM

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?

The world would become a better place where things were transparent, honest and less corrupt. I commend this ICO for targeting the masses adoption of Crypto and presenting a solution to that problem that I believe can work.

https://bitcointalksearch.org/topic/m.31823480

KrisAlex18

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Quote from: Bitshake on June 08, 2016, 05:41:44 AM

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?

I think there's a large possibility that bitcoin would become legalized worldwide since the influence of it has been improving a lot since there are different ways to dessiminate the news about it already since technology has improved a lot lately. If ever bitcoin became legalized worldwide, it will surely end up being prioritized by many and it would surely bring great convenience to many which will attract more users and investors.

berungan

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if the legal bitcoin is certainly a lot of rules made by the state, but a lot of fortunately also if bitcoin is legal, surely all merchants will accept bitcoin as transaction, and like the company will pay the salaries of its employees with bitcoin.

jonaire99

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It will be a big welcome development for all of the cryptocurrency users if bitcoin become a legal currency in many countries. Having a bitcoin as a legal tender will benefit all the users because they are no longer required to convert their coins into fiat first. But legalizing bitcoin and other cryptocurrencies might have a price: Regulation and Taxation.

Apple Mac

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Quote from: Bitshake on June 08, 2016, 05:41:44 AM

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 will be considered as a legal currency all over the world, then possibly, many people will go start engaging on it for the reason that it will be only legalized if it already gains too much popularity so better know that many people are already knowledgeable on using Bitcoin effectively and have already experienced the benefits it can provide. Then it will be much easier for all of us to do transactions in any part of the world.

Wylie330

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New Era of Freelancing

Then that feels like I won a lottery. Because ever since I've started here, I join because I believe that one day Bitcoin will be accepted worldwide as currency. That is why, as much as I can do I want to earn more Bitcoin so that by the times I am prepared for anything.

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