I don't know what would happen if bitcoin became legal currency. Is it not legal now??
Well, I think it is gonna be a good thing bitcoin to be accepted everywhere. To me it is good, as to other bitcoin users and holders. If I could pay with bitcoins right away it would mean that I don't need to pay some % for cashing out my coins, so it would be good economy.
As I saw on bitcoin news - bitcoin is already accepted as way for payment to some stores and even cafes. The time when bitcoin will be normal way of payment is really close, by my opinion.
Topic: What would happen if Bitcoin became a legal currency? - page 38. (Read 33670 times)
if bitcoin become a legal currency it will be too good for the future of bitcoin, then more and more people will show interest in investing their money in bitcoin, and bitcoin will become more strong and powerful and will also be used by most of the people of he world.
Bitcoin can not be implemented on shops due to fact, that transfer for shops need very fast transaction time - 0.5 - 1 minute max, so Bitcoin transfers currently are around 20 minutes. And therefore it can not be legal currency, because shops will not work with it. 
Bitcoin transfers can be made directly, literally from hand to hand (just like you pass paper money over the counter), without involving the use of Blockchain and not suffering from time delays associated with transaction confirmations. The technology is already here, and hopefully it will get polished to perfection over time...
Just in case, being or becoming a legal currency has nothing to do with shops accepting or refusing to accept it
I agree on this, whether shops will accept bitcoin or not has nothing to do to bitcoin being legal. If it is legal then the first thing i can see is the tax on every transaction or purchased made in bitcoin. Pricee might skyrocket due to the hype of it being legal but will settle down to it's real price eventually.
Bitcoin can not be implemented on shops due to fact, that transfer for shops need very fast transaction time - 0.5 - 1 minute max, so Bitcoin transfers currently are around 20 minutes. And therefore it can not be legal currency, because shops will not work with it.
Bitcoin transfers can be made directly, literally from hand to hand (just like you pass paper money over the counter), without involving the use of Blockchain and not suffering from the time delays associated with transaction confirmations. The technology is already here, and hopefully it gets polished to perfection over time...
Just in case, being or becoming a legal currency has nothing to do with shops accepting or refusing to accept it
Bitcoin can not be implemented on shops due to fact, that transfer for shops need very fast transaction time - 0.5 - 1 minute max, so Bitcoin transfers currently are around 20 minutes. And therefore it can not be legal currency, because shops will not work with it.
i guess it was a dream of all users bitcoin least if that thing happens then we need not worry that bitcoin will be lost or become useless.
I prefer governments must have some good opinion about bitcoin so that bitcoin will get spread out so quickly.
Yes, that is the only benefit we can get from a government's declaration of bitcoin as a legal currency. That will give free advertisement for bitcoin system so that many people will come to know about bitcoin and will start adopting it. Also merchants will start accepting bitcoin because they will not have any hurdle with the legal issues so find it easy while exchanging for fiats.Yeah it's a very good thing for the growth of the bitcoin. Because it is more powerful and has a bitcoin warranties or have the power to dominate the market, but the problem is about the storage or management of the bitcoin against all transactions or storage. because of all the technology certainly has the maximum performance limits
I prefer governments must have some good opinion about bitcoin so that bitcoin will get spread out so quickly.
Yes, that is the only benefit we can get from a government's declaration of bitcoin as a legal currency. That will give free advertisement for bitcoin system so that many people will come to know about bitcoin and will start adopting it. Also merchants will start accepting bitcoin because they will not have any hurdle with the legal issues so find it easy while exchanging for fiats. 
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?
As far as i know bitcoin is legal in most of the countries in the world, so I think its not all about if it should be legal or not.
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?
As far as i know bitcoin is legal in most of the countries in the world, so I think its not all about if it should be legal or not.
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?
As far as i know bitcoin is legal in most of the countries in the world, so I think its not all about if it should be legal or not.
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?
As far as i know bitcoin is legal in most of the countries in the world, so I think its not all about if it should be legal or not.
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?
Then the government would watch and control things, that would be not a good thing because then they would put taxes on it. If that happens then many users would leave because the government would ruin it.
If bitcoin became legal it would mean that demand for the digital currency would raise there by influencing the price to raise and restrictions would probably be imposed as entities would be forced to follow KYC and the alike which would negatively affect btc.
so many people whose still in doubt will starting to adopt bitcoin as their secondary currency,bitcoin will be regulated,and there's a big chance to be taxed,the value of bitcoin will be increasing and reach supply
Would not the price be stable if bitcoin is regulated? Just thinking.
It will not result to a rocketing of price but will be just little ups and downs just like fiat currency.
Just wondering.
then way more people would be using bitcoins and in my opinion adoption would be way faster than it is now
well most probably you are right, a lot of new people would get into bitcoins willing to use it really often and to make some decent profit with it 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 would possibly be decentralized and tax would be applied as well from government of each country where it is legalized, and i guess it wont be as rare as it is now and people wont take it as serious as they do now because that time it would be normal for everyone to have bitcoins.
Indeed it would be applied and certainly it will make bitcoin become digital currency that is protected by law, as owner of the bitcoin must pay taxes. So this will be a good thing if all the users of the bitcoin do something things properly without having to wear things that are not useful
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 would possibly be decentralized and tax would be applied as well from government of each country where it is legalized, and i guess it wont be as rare as it is now and people wont take it as serious as they do now because that time it would be normal for everyone to have bitcoins.
It might have simply been someone's opinion or just a rumor, but I sure that the technology is either making it easier for banks and credit card companies to integrate things or, in the least, is a small part of the motivation.
if bitcoin became totally legal then in every country there may be some charges of saving bitcoins in wallet like another type of bank money . and if there ia no taxation then the use of bitcoin will rise sharply .
That sounds not good. I would rather want it to fluctuate up and down than be stabilized by a government while will steal through taxes if that is what they meant. Of course they wont say they are stealing like what they are doing now.
Jump to: