Yes, this will be a big advantage for us but I believe this will take time before it will be legal since there are a lot of factors to be consider and there will be involvement like the governments before accepting it as a legal currency.
In actually, it is legal in some countries like Brazil, but Bitcoin users and supporters aim to make it legal in the countries which will boost Bitcoin if they accepted and regulated it, I read in the news recently that one of the Bitcoin believers donated more than $1 million for Donald Trump campaign because he see that Trump might boost the Cryptocurrencies. 
Topic: What would happen if Bitcoin became a legal currency? - page 35. (Read 33690 times)
Yes, this will be a big advantage for us but I believe this will take time before it will be legal since there are a lot of factors to be consider and there will be involvement like the governments before accepting it as a legal currency.
If bitcoin became a legal currency, many people will notice bitcoin and start using bitcoins. It will give a good impact into bitcoin for sure and the price of bitcoin can increase.
More and more people will start using it, yes. But a "good impact" may not be a good way to put it because we can't know for sure if being popular is beneficial to the bitcoin industry.
Being popular is for sure beneficial for bitcoin industry as popularity brings investments and investments decides if where bitcoin will go, the more its demand increases the more its price will increase as well, suppose you have 1 bitcoin and there are 5 people willing to buy it, wont they try to win it by bidding higher? That would be the case with bitcoin if it gets more popular
It all depends on what those 5 people are going to do with your precious Bitcoin. If they are competing for it with the purpose of reselling it to the rest of the gang, someone will necessarily be left holding the bag in the end. And Bitcoin will be of no more interest to them any longer since they have all used it (or tried to use, lol) as a vehicle for speculation and profiteering...
This form of popularity is beneficial for bootstrapping a coin, but not for a long-term success of it
If bitcoin became a legal currency, many people will notice bitcoin and start using bitcoins. It will give a good impact into bitcoin for sure and the price of bitcoin can increase.
More and more people will start using it, yes. But a "good impact" may not be a good way to put it because we can't know for sure if being popular is beneficial to the bitcoin industry.
Being popular is for sure beneficial for bitcoin industry as popularity brings investments and investments decides if where bitcoin will go, the more its demand increases the more its price will increase as well, suppose you have 1 bitcoin and there are 5 people willing to buy it, wont they try to win it by bidding higher? That would be the case with bitcoin if it gets more popular.
If bitcoin became a legal currency, many people will notice bitcoin and start using bitcoins. It will give a good impact into bitcoin for sure and the price of bitcoin can increase.
More and more people will start using it, yes. But a "good impact" may not be a good way to put it because we can't know for sure if being popular is beneficial to the bitcoin industry.
if bitcoin legal curency
all the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
yeah it could have been done and it might be happening in the future where the bitcoin be legal and accepted by the government but instead would bitcoin should provide income to the government in the form of taxes. it can be done, but certainly there is a lot of data manipulation that happened so it will not be effectiveall the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
I don't know about your country, but if Bitcoin gets regulated to the gills and, as a result, online gambling sites won't be able to use it, they will simply start using another coin. That seems to be the reason why some Canadian dice sites switched from Bitcoin to Clamcoin (though I can be wrong on this). In any case, online gambling won't go away just because Bitcoin gets regulated up to the point where it can no longer be used for gambling or just gets outright banned...
Dog fights are almost universally banned, but fighting dogs still prosper somehow
I think it is actually legal in most countries, but it is just not accepted as payment at many places. It is still too new and different to have fully caught on yet.
Correct bitcoin is already legal decentralized currency we can spend it internationally, here in my country bitcoin is popular in more people even only few stores are accepting bitcoin as their mode of payment and i am hoping that in the future all stores will start to add bitcoin in their more of payment.
I think it is actually legal in most countries, but it is just not accepted as payment at many places. It is still too new and different to have fully caught on yet.
if bitcoin legal curency
all the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
yeah it could have been done and it might be happening in the future where the bitcoin be legal and accepted by the government but instead would bitcoin should provide income to the government in the form of taxes. it can be done, but certainly there is a lot of data manipulation that happened so it will not be effectiveall the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
if bitcoin legal curency
all the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
yeah it could have been done and it might be happening in the future where the bitcoin be legal and accepted by the government but instead would bitcoin should provide income to the government in the form of taxes. it can be done, but certainly there is a lot of data manipulation that happened so it will not be effectiveall the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
If bitcoin became the legal currency, I think it will be easier. Some illegal transactions will be tracked because if you dont know, government are tracking us without knowing it. We dont need to carry wallets, there will be no snatchers and hold upers..but in disadvantage i know hackers and scammers will really be a good job for bad guys. So bitcoin being the legal currency can wait for years or centuries
if bitcoin legal curency
all the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
I think this policy will not be applied no one can change the system of bitcoin. and bitcoin will be kept anonymous until whenever, so even if you are required to pay taxes you could manipulate your bitcoin amount in other bitcoin address. moreover anonymous bitcoin government not certainly will know itall the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
But I think the government will unable to find that who is using bitcoin and who is not using so they will not be able to start tax on them but only a fees for transaction is possible for the government to keep on the people.
I'm amazed at how naive a lot of people seem to be here on the forum
You really think the government can't know who is using Bitcoin if they really want to?? They've got the world's brightest minds working for them, for all we know, they've already worked out an accurate system to bind real identities to Bitcoin addresses. Remember you get your internet from an ISP and these guys would bend over backwards for the government.Each country has plenty acess to how much money each banks does have, from their costumers. People do save their money at banks its hard to find a person today that doesnt save at bank, at home its something no one does, its a risky thing to make such. Countries interest into bitcoin would be their tax, even if they dont know who is at crypto world, some of us are making a good income at it and will need to justify where those money is coming, or atleast need to hide it with small ammounts.
But I think the government will unable to find that who is using bitcoin and who is not using so they will not be able to start tax on them but only a fees for transaction is possible for the government to keep on the people.
I'm amazed at how naive a lot of people seem to be here on the forum
You really think the government can't know who is using Bitcoin if they really want to?? They've got the world's brightest minds working for them, for all we know, they've already worked out an accurate system to bind real identities to Bitcoin addresses. Remember you get your internet from an ISP and these guys would bend over backwards for the government.Though I agree that there are a lot of naive people sticking around the forum nowadays (certainly much more than some 3 years ago), but you obviously don't consider yourself to be one them, right? But how could you forget that there are quite a few governments in the world, many of which are not quite friendly toward each other? So what a government could do to someone who is simply beyond their reach, even if they managed somehow to bind this individual to his Bitcoin address?
Obviously, having the world's brightest minds is nowhere near enough
The main thing would be the government start to tax bitcoin transaction and people which to buy and sell it, it would be legalized for a price, soo people would raise their prices accordingly the fees being taked. And the funny thing would be say to my friends that said im doing something ilegal, earn bitcoins, they were very wrong and lost time being following the law.
yeah one thing into thinking the government is how to get profit from a foreign company, certainly when bitcoin be legal in a country of course the government will impose a tax policy to provide to bitcoin, but I do not know. is it a tax provision in bitcoin can be effective or not
if bitcoin legal curency
all the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
all the world regulated and legalcy bitcoin
can pay tax fee, your must verified identifity addres and wallet
But I think the government will unable to find that who is using bitcoin and who is not using so they will not be able to start tax on them but only a fees for transaction is possible for the government to keep on the people.
I'm amazed at how naive a lot of people seem to be here on the forum
You really think the government can't know who is using Bitcoin if they really want to?? They've got the world's brightest minds working for them, for all we know, they've already worked out an accurate system to bind real identities to Bitcoin addresses. Remember you get your internet from an ISP and these guys would bend over backwards for the government. 
The main thing would be the government start to tax bitcoin transaction and people which to buy and sell it, it would be legalized for a price, soo people would raise their prices accordingly the fees being taked. And the funny thing would be say to my friends that said im doing something ilegal, earn bitcoins, they were very wrong and lost time being following the law.
I think although bitcoin be legal even though it will be difficult for the government to be able to provide a tax on bitcoin users in their country, if it does occur naturally called anonymous bitcoin advantages will be lost, so what the benefits bitcoin will be an attraction of bitcoin lol? 
The main thing would be the government start to tax bitcoin transaction and people which to buy and sell it, it would be legalized for a price, soo people would raise their prices accordingly the fees being taked. And the funny thing would be say to my friends that said im doing something ilegal, earn bitcoins, they were very wrong and lost time being following the law.
But I think the government will unable to find that who is using bitcoin and who is not using so they will not be able to start tax on them but only a fees for transaction is possible for the government to keep on the people.
Other than these, when we are sticking like paying others direct bitcoin payments and converting bitcoins into cash using local exchangers in person then no one will be able to track us so there will not be any possibility of taxing.
As such, Bitcoin is an actively traded currency now so there's loads to expect for future reference.
Truly though, if BTC becomes more mainstream than it is and is adopted officially in OPEC / Reserve Exchanges the price + startup potential will rise significantly.
Truly though, if BTC becomes more mainstream than it is and is adopted officially in OPEC / Reserve Exchanges the price + startup potential will rise significantly.
Jump to: