What would happen if Bitcoin became a legal currency? - page 9.

futile-resistance

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Quote from: fianaindriati on November 10, 2017, 10:15:22 AM

Quote from: Sh0ckingCart on November 09, 2017, 09:16:26 PM

Bitcoin for me can't become a legal currency, since right it is now not thought of as a legitimate forex, but because a good investment. If it would turn out to be 1 though, it is always good because you will see greater need. Due to greater need, bitcoin's price will increase and up but there is this issue using the provide so it being a legal forex appears like not possible in my experience.

if it becomes a legal currency, then that is not necessarily the case. because in this case we also never know how the upcoming bitcoin progresses.
even if it is true bitcoin be the currency of the law. of course bitcoin users increasingly make a profit.

If bitcoin would become a legal currency, then obviously the first thing to happen is a seizure on the price reversals, this is because the fluctuation of the value is just due to its decentralized nature and when it would come under the government, the investment rates would be completely checked and maintained within limits as far as the international market is concerned. In this way the price would move towards the stability scale.

Honest Tim

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If bitcoin is legalise by the government, the tag of unstability on the bitcoin will be removed. And there are chances that bitcoin will be accepted by more and more users as a payment method. As people and many Companies has still the doubt about bitcoins investment. But after legalisation there are chances that there is increase in investor and more and more companies will connect with bitcoin and will offer their goods and services in exchange of bitcoin as a payment in future. At least the market will look positive on bitcoin if more countries legalize bitcoin, so there is high probability that bitcoin prices will rise.

elbimbo012

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currently bitcoin is a legal currency sing it has a corresponding dollar value. the difference only that bitcoin is a virtual currency and currency and has no physical coin circulating in any country it only exist online but has a value which you can you to purchase anything thru online

Zuilhsa

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In few countries bitcoin has legalized and in many countries not as there are no such rules, it would be good if it is legal and if it happens more people adopts bitcoin and the demand increases than supply thus price sky rockets and we can see stable price with less fluctuations.

millgates

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Quote from: crustez00 on November 16, 2017, 06:41:03 AM

when it's became a legal currency, i think the first time that bitcoin should have is more stable currencies to make easier in some market transaction in real life. and if bitcoin became legal, well the demands of its became high too. i don't know what will happend if demands got high, but i think the prices will goes up a lot. and it's kinda make it harder to make bitcoin itself stable? Huh

that's my opinion though. #CMIIW

Government intervention like legalization or regulations can influence the price of bitcoin. Some countries legalize bitcoin but they can tamp down excessive enthusiasm for bitcoin by saddling it with regulations that increase the cost of doing business like happen in australia before it change the regulation for bitcoin. At least the market will look positive on bitcoin if more countries legalize bitcoin, so there is high probability that bitcoin prices will rise.

crustez00

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when it's became a legal currency, i think the first time that bitcoin should have is more stable currencies to make easier in some market transaction in real life. and if bitcoin became legal, well the demands of its became high too. i don't know what will happend if demands got high, but i think the prices will goes up a lot. and it's kinda make it harder to make bitcoin itself stable? Huh

that's my opinion though. #CMIIW

niceone

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Bitcoin is not illegal and not legal either, it will gonna be a blast for me if government finally recognized bitcoin and the big companies even local business accepting bitcoin it will make our life easier with no transaction fee if you need to transact with a person far from you
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Beparanf

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Quote from: lichao1395427 on November 16, 2017, 06:21:16 AM

That would be really great moment for bitcoiners, because we would have one globe and one currency.
Transactions would be faster because blockchain technology is faster than any other banking system.
But tbh this is hypothetical answer which i gave, because bitcoin is decentralized currency.
" if no one has control over it than how it could be legal currency"

It will be like some countries who already legalized it, its much faster and easier to do transactions and some shoppings too. Cash in will be much convenient for us.

lichao1395427

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That would be really great moment for bitcoiners, because we would have one globe and one currency.
Transactions would be faster because blockchain technology is faster than any other banking system.
But tbh this is hypothetical answer which i gave, because bitcoin is decentralized currency.
" if no one has control over it than how it could be legal currency"

BlueStackz

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Quote from: Qunetick on November 08, 2017, 06:02:14 AM

Quote from: dali_masmoudi on November 08, 2017, 05:45:43 AM

It is really a good and beneficial thing for the Bitcoin community. But what will happen if it becomes legal ?
I think that its value will drop a lot because gouvernements thinks that the value is inflated.

If I will based it in my country, probably if bitcoin will become a legal currency in the country then it is possible that we will be deducted with labor taxes because this time there's no tax in every amount of bitcoin we could earn from any campaign. But if it will become a legal currency, the government will also make something to benefit from it and may not allow us to earn bitcoin if we will not give taxes from it.

If bitcoin would become a legal currency then the investment rate in the market would increase than the normal one. This would lead to a drastic change in the market price of the Btcs thus leading to a dump indeed. So all the bitcoin community is not in favor of the legality procedure and thus the bitcoin regulation must be done as it is being continued and there is no need to let this decentralized economy become legal.

leexhin

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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?

This would be a big advantage to us because when bitcoin be legal then the higher bitcoin price because of many demands, but there is still so many people who have doubt in bitcoin and when bitcoin get legalized there is a big chance that it will have tax.

reda

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Quote from: Eclipse26 on November 14, 2017, 10:25:05 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?

I think if bitcoin will be a legal currency to a certain country, retailers and online shops will now accept bitcoin as a way of payment. In that way, the sending and receiving of money will be hassle-free because its easy and convenient. Also, sending bitcoin is safe because it is secured and the money or bitcoin will easily go to a specific wallet.

Yes it's good to use for the bitcoin users. It will accept in all the country such as online store, trading and ATM. Bitcoin is use all people for the future improvement. It will use for all purposes. So it best way for the future growth and communicate for the business improvement.
But it will not affect the other currency.

Eclipse26

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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?

I think if bitcoin will be a legal currency to a certain country, retailers and online shops will now accept bitcoin as a way of payment. In that way, the sending and receiving of money will be hassle-free because its easy and convenient. Also, sending bitcoin is safe because it is secured and the money or bitcoin will easily go to a specific wallet.

PrinceCaspian

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If bitcoin will become a legal currency then it will become the greatest day for bitcoin because a lot of people will come to bitcoin as fast as they can because that is a go signal for them to fully adopt bitcoin because the government already trusted bitcoin and made it as a legal currency.

jatin729

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If this ever would happen than we can use bitcoin similarly we are using fiat currency now, we can purchase directly with bitcoin instead of converting it into Fiat,
Life would become very easy in case of bitcoin because everything will be on internet and fast transactions and with proper security.

ricardobs

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Quote from: Alalex on November 08, 2017, 08:10:32 AM

Some countries and their governments also accept it, probably in the future most of what I know and in my country do not accept bitcoin for legal currency. Maybe it will happen in the future all over the world who know about bitcoin and use it all said that bitcoin is the second official currency circulating in the coolest technology in the online world for future development.

Yes the governments are accepting the bitcoin and this is the reason why the bitcoin value and the price is increasing I hope the future of the bitcoin is bright if the bitcoin will become the legal currency because now all the people are buying the bitcoin and they are having the huge investment after getting in the bitcoin I can see the bitcoin is able to give us the best profit and the income of the bitcoin will be more than this.

Andrianla

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What happens is that bitcoin will jump up and all its usage is recorded in the system. It will facilitate all people in transacting safely and at high speed

ross09

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Bitcoin is actually a legal currency already. because in some store in other country are already accepting bitcoin for payment some are restaurants and some are boutique shop .but not that really popular though bitoin is actually considered as one of the safest way to pay bills ( compared to visa credit pr debit ) . but most of it they dont really accept bitcoin well same with golds too. but if just if every business owners and even from the higher stakes will accept bitcoin as same as regular money or regular payment method i think its gonna be easier and on of the safest wmethod of payment..

nikitano

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Indeed, of training course in the situation of accepting bitcoin as Authorized currency on the identical way as fiat the govt would place it truly is arms on bitcoin. I am not sure that this would be very good to us bitcoin holders, but this is the feasible potential for bitcoin, I know that some governments are currently getting ready the foundation for accepting bitcoin, but as I heard it brings new fees.

anhhung409

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I'm expecting this to happen. I imagine a lot of things. If Bitcoin is legit, you go out and just your phone, you can do everything, including investments, money transfers, payments, mining. Everything will be easier, the value of Bitcoin will also grow. Perhaps it will become the world's currency

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