What would happen if Bitcoin became a legal currency? - page 41.

danherbias07

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Quote from: purebitco on August 26, 2016, 09:15:51 AM

Quote from: SmartIphone on July 06, 2016, 04:41:59 PM

Quote from: Bitshake on June 08, 2016, 04:41:44 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 gets accepted in most of online and real stores then people who manage the fiat currencies will try to centralize the bitcoin as we see that there are many attempts from the big worldwide institutions nowadays.

it would be really good to be honest and i doubt that bitcoin would be centralized as people wouldnt like that for sure and then no one would use it

You got that right. There would be tax, there will be control and many will question if you have a large amount because we know that bitcoin is publicly visible.

Yakamoto

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If Bitcoin became a "legal" currency then there would be a lot of laws put in place around it, and chances are it would be taxed in either a heavier or more aggressive manner than the "natural" fiat currency the government offers. They would aim to discourage use of Bitcoin, and thus heavier taxes or more fees associated with it (VAT, GST, similar taxes/fees) would probably be their main goal to get it out of the economy.

rio3233

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If bitcoin became a legal currency and accepted by all country around the world, i'm sure it will be a good news for bitcoin and it will makes the price of bitcoin increase.

goinmerry

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There is an "if" so it should be answered like bitcoin is already the currency. I think people will got used to it. At first it will be hard but I am just thinking how are those living in the streets going to use it. I think when that time comes everything should be cleaned up in the street and they have their own jobs or government will provide lectures for them.

purebitco

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Quote from: SmartIphone on July 06, 2016, 04:41:59 PM

Quote from: Bitshake on June 08, 2016, 04:41:44 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 gets accepted in most of online and real stores then people who manage the fiat currencies will try to centralize the bitcoin as we see that there are many attempts from the big worldwide institutions nowadays.

it would be really good to be honest and i doubt that bitcoin would be centralized as people wouldnt like that for sure and then no one would use it

Supercrypt

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Quote from: Decoded on August 26, 2016, 02:38:00 AM

Bitcoin will slowly melt away the walls of doubt, fear and uncertainty on cryptocurrencies all around the world. And to the moon we go! As more people invest, the higher the market cap will be.

The higher market cap will attract many new investors from wall street and huge whale investors around the world. This will make bitcoin more sacred investment. Then government will have no other way other than going with people's wish and decision which must be (hopefully) legalizing bitcoin then Unions will make bitcoin global currency. Let's hope for best to happen, that too in near future.

Decoded

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Bitcoin will slowly melt away the walls of doubt, fear and uncertainty on cryptocurrencies all around the world. And to the moon we go! As more people invest, the higher the market cap will be.

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Quote from: Bitshake on June 08, 2016, 04:41:44 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?

Then The Bitcoin Will Be Used By All Over The World And It Is Much Easy to Buy Something with Bitcoins Like Your Daily Needs....

Dudeperfect

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It would definitely boost the growth of the currency but real value addition is if everyone starts using it. Being optimistic (and bias as a bitcoin well wisher), I think most of the countries will have positive approach towards bitcoin, provided if it still remains currency of internet (instead of currency of criminals). We should find solutions to the issues which could emerge as a threat to the goodwill of bitcoin in future. As of now, bitcoin is not legal and even illegal in my country, it’s not yet recognized.

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Quote from: MaritiJames3 on July 19, 2016, 09:42:49 AM

Quote from: Bitshake on June 08, 2016, 04:41:44 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 it became legal then it might have a chance to become even more popular because then people might trust Bitcoin and they will not be afraid.
but maybe it will not go that way, many things can happen if the Bitcoin becomes legal.

Legalizing bitcoins will change the way we perceive our world. It would be revolutionary like the internet !!!! It can positively effect the great aspects of your life. International business would be much more easier and convenient.

MaritiJames3

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Quote from: Bitshake on June 08, 2016, 04:41:44 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 it became legal then it might have a chance to become even more popular because then people might trust Bitcoin and they will not be afraid.
but maybe it will not go that way, many things can happen if the Bitcoin becomes legal.

ultrloa

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Simple bitcoin well be controled by government and we can see slow price progress just like other currency out there and also they might limit the supply for the bitcoin each year, thats why i dont want government legalized it because possibilities for that to be happen since they know bitcoin are profitable currency because it got huge market globally.

Quote from: neochiny on July 09, 2016, 05:28:56 AM

Quote from: Xester on July 08, 2016, 10:56:48 PM

Quote from: Bitshake on June 08, 2016, 04:41:44 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 is a legal currency then it is scam and hacker free. The reason is that the government will regulate it and placed under monitor to trace illegal transactions and nefarious activities. We will be protected from thieves, hacker s and scammers but we will lose the annonymosity of bitcoins.

Well bitcoin being scam and hacker free will only be a dream, no matter what happen to bitcoin may it become
legalize or illegal scammers and hacker will still be there even with the monitor of the government.

Yeah because it can be the end of its anonimosity and that might be a reason for some fraud to go to jail.

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Quote from: Xester on July 08, 2016, 10:56:48 PM

Quote from: Bitshake on June 08, 2016, 04:41:44 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 is a legal currency then it is scam and hacker free. The reason is that the government will regulate it and placed under monitor to trace illegal transactions and nefarious activities. We will be protected from thieves, hacker s and scammers but we will lose the annonymosity of bitcoins.

Well bitcoin being scam and hacker free will only be a dream, no matter what happen to bitcoin may it become
legalize or illegal scammers and hacker will still be there even with the monitor of the government.

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Quote from: davis196 on July 09, 2016, 12:15:14 AM

Quote from: Bitshake on June 08, 2016, 04:41:44 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 is a legal currency in most of the countries.

If all the people in the world adopt bitcoin, the price per btc will be 3M USD and we will be rich.

The fact that this coin is not regulated it would mean that this is not legal nor illegal, but the act could mean illegal if you use bitcoins in transaction that involves violation the laws of the state.

davis196

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Quote from: Bitshake on June 08, 2016, 04:41:44 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 is a legal currency in most of the countries.

If all the people in the world adopt bitcoin, the price per btc will be 3M USD and we will be rich.

Xester

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Quote from: Bitshake on June 08, 2016, 04:41:44 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 is a legal currency then it is scam and hacker free. The reason is that the government will regulate it and placed under monitor to trace illegal transactions and nefarious activities. We will be protected from thieves, hacker s and scammers but we will lose the annonymosity of bitcoins.

Doamader

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Quote from: GamingBro on July 08, 2016, 04:58:28 PM

When only one country will accept bitcoin as legal currency other countries will start doing the same at my opinion and bitcoin can become a global currency very fast.

The question isnt soo easy as if one accept it the others will follow. Bitcoin to achieve mainstream must be from costumers demand, making pressure into the markets, searching and investing into bitcoin. If countries will get more regulating bitcoin, let it be legal, sure they can charge a fee into the people that hold such ammount of bitcoins, lets say less then 5 btc you wont pay any tax, above you will pay year 40 dollars or less.

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When only one country will accept bitcoin as legal currency other countries will start doing the same at my opinion and bitcoin can become a global currency very fast.

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Quote from: ~Bitcoin~ on July 06, 2016, 11:22:59 PM

Quote from: SmartIphone on July 06, 2016, 04:41:59 PM

If bitcoin gets accepted in most of online and real stores then people who manage the fiat currencies will try to centralize the bitcoin as we see that there are many attempts from the big worldwide institutions nowadays.

Centralizing bitcoin is totally a shilly attempt as nobody can do it because bitcoin nodes are distributed worldwide and also if one company from one country try to run maximum nodes other from other countries will also increase the no of nodes making bitcoin network more stronger. Bitcoin is community driven, better to say driven by strong and large community.

It's not about how may nodes do you have but it is about those exchanges and other ways that people buy and sell bitcoin. Once you submit your ID details/verification to these websites then they know/ have what to track and who to track those bitcoin, by this you are not anymore anonymous.

ASHLIUSZ

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Quote from: freedomgo on July 08, 2016, 01:28:47 AM

Quote from: ~Bitcoin~ on July 06, 2016, 11:22:59 PM

Quote from: SmartIphone on July 06, 2016, 04:41:59 PM

If bitcoin gets accepted in most of online and real stores then people who manage the fiat currencies will try to centralize the bitcoin as we see that there are many attempts from the big worldwide institutions nowadays.

Centralizing bitcoin is totally a shilly attempt as nobody can do it because bitcoin nodes are distributed worldwide and also if one company from one country try to run maximum nodes other from other countries will also increase the no of nodes making bitcoin network more stronger. Bitcoin is community driven, better to say driven by strong and large community.

We will surely become a big in the near future with the help of the adopters from all over the world who have use and appreciate the value of bitcoins as digital currency, the market is filled with investors, traders, and bitcoin spenders that would help the circulation to increase.

this is going to happen in near future, if bitcoin is made legal one can explicitly use it, trade and mine, also we can see more adopters for this digital currency.

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