Bitcoin Forum

my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values ​​are the same. or will become commodity items such as gold etc. Give me your opinion

This doesn’t make any sense. For one, bitcoin is a deflationary currency with a fixed supply. Sure enough governments can’t really do much using it for fixing their economies and would still need something that does the job pretty well which is fiat. They can go as to dividing whatever bitcoin reserves they have in their arsenals to the tiniest bit but that’s about it, and it would still be dependent on the current valuation of bitcoin for them to make things work.

I believe that the world might end up using a single, digital currency, but not as soon as in a decade or two. Maybe in 50 or so years, or maybe even longer than that. Is that currency going to be Bitcoin? Maybe, but not likely. If anything, Bitcoin will evolve into a store of value, and something else will become a currency for everyday use. However, to answer your question, I expect that crypto and fiat will coexist for a long time before fiat finally goes extinct. It will have to happen eventually, but the process will be slow. At first, cryptos will be something used by a rare few, even though it will be accepted by most merchants and services. Then, people will start using it more, and in the end, fiat will likely be a back-up currency, most likely existing only in bank accounts and spent via the credit cards. We are becoming more and more cashless with each passing year, and the change is inevitable. All that remains to see is how long it will take.

I think if Bitcoin is recognized throughout the world, then Fiat will continue to exist, because every country has its own currency, it is difficult to replace it. For positive and negative impacts there will definitely be. that's just my opinion

If bitcoin become legal across the globe that will be the start of the bitcoin mainstreaming and bitcoin will be used as a legal tender. But even with the legalities bitcoin needs to overcome some big issues such as slow confirmation rate, areas without electricity and internet connection, poor people who cannot even buy computer or smartphones. So possibly it bitcoin is legalize the usage of bitcoin will still be limited in urban areas with people who can afford to purchase computer and smartphones. The problem will hit the extreme poor people and the people in far flung areas that has no access to electricity and internet connection.

But why would you rely on regulations so much? Why it's so important for you, that some political body will give you special permission to use bitcoin? You and everybody else, can use it, even when stupid politician says otherwise.
Adoption should be voluntary, intentional and performed knowingly. We already have some nonsense accusations against bitcoin being a psy-op of the new world order, government "help" will only discourage suspicious people from trusting it.
I'm a proponent of natural, long lasting processes, evolution of our legal tenders seems like a lot better approach than revolution to me. Besides slow and gradual adoption will neither save nor doom nobody, it will only change and move the positions of financial independence in general direction of ordinary folks, they just have to see this for their own first, special permissions can only corrupt the entire idea. Don't be a supporter of the subversion of bitcoins.  

I think when that time comes, fiat would still exist. But it would exist not in paper, but in digital payments. Bitcoin would be, at first, a speculative investment that day traders would be on to. If bitcoin would be more stable, it could replace existing payment methods even on small enterprises. However, that's unlikely to happen since bitcoin is, and should remain decentralized.

Therefore, digital fiat would still be the main payment method. Bitcoin would be popular for day traders and some investors.

It will be full regulated but fiat will remain for sure, and will be more useful compared to bitcoin as a money.
Bitcoin is just an online currency while majority of the transactions are still done with paper money, in the event bitcoin will gain massive adoption, I think that time we will be able to see a standard regulation the government will use so it will not be hard for them to implement the rules.

Legalization is important, it is the secret to achieve a massive adoption.  ;D

If Bitcoin becomes a legal , can make effect the price of bitcoin will be very expensive because of limited stock and lots of demand. Online Marketplace will open payments via bitcoin, like amazon, ebay, alibaba, etc. Make it easy to send money internationally, open many job vacancies, and will have many ICO projects that sprung up.

But it will not erase fiat. Because fiat is the main currency of every country, bitcoin is only an alternative payment. Because there are conditions where payments can only be made by Fiat, for example areas that have not been covered by the internet network,  for shopping at traditional places that do not allow transactions with bitcoin, payment of employee salaries, etc. Because bitcoin prices are not stable.

Do you think everyone will be using crypto-currencies over fiat when it gets recognized? If so, you could make the argument that it would become popular.

The problem with Bitcoin and crypto-currencies isn't just legality, and getting it approved. We see quite a lot of transactions with bitcoin, and it hasn't been fully approved. The problem lies within people, and then wanting to keep using fiat currencies instead.

First off, it will never happen that all countries all over the world will recognized and regulate Bitcoin. That is already dreaming a very impossible dream. Tell that to China, Russia, India and the likes and we will b getting a good laugh. I am not saying there is no possibility that the minds of the leaders of these countries will not be changing but suffice to say that for now and in the near future that is not going to happen. However, let's assume that all will, I don't think fiat has to stop working. In Japan, Bitcoin is recognized and regualted but we still see yen very much alive. I don't understand why do we have to make Bitcoin a killer of other currencies when in fact here in the world of cryptocurrencies Bitcoin has so many competitors and they are doing just fine (well, except for shitcoins!).  Can we not dream of making Bitcoin and other existing currencies co-exist peacefully with each other?




There is really no point in making Bitcoin the "salvador del mundo" or savior of the world's economy. I don't think Bitcoin is designed for that, in the first place. This is like putting a very heavy expectation and obligation on the part of Bitcoin and then years from now we will just be frustrated and disappointed why Bitcoin has not been the messiah we are looking for.



Obviously, if there will only be one global currency left which is Bitcoin then all values will be the same. Whether Bitcoin can become like a commodity or not, it does not matter at all. In my opinion, Bitcoin can be acting like a currency (medium of doing business) or a commodity (like gold, store of value) depending on how a person is using it and both can be perfectly fine with me...the only big problem is if a person has no Bitcoin at all then he failed to participate in the greatest revolution in human's financial/banking history happening right before our own faces and fingertips.

I don't think the government will legalize bitcoin as their main currency, FIAT is still valid because it is the starting point for economic progress in the country. If as you said that legalizing bitcoin makes currencies the same value, then what about the economic differences in all countries? in the economic factors of the country that cannot keep up with the economic progress of other countries, would not it be the disadvantaged side.

I thought about adopting digital technology. From the opinion of my friends who work in government, they are more interested in blockchain technology because they can make digital currencies with a stable coin concept like USDT with their local currency as investment assets. There are still many weaknesses in blockchain technology to oversee anyone who is included in the ledger. Because of anonymity and freedom of transactions, the government is hesitant to adopt this.

I think Bitcoin is gold. It 's been clear to me for a long time

The best example is Japan after bitcoin legalized, it being used as means of payment just like fiat currency no more no less.
The reality is bitcoin not used by all of the citizens although it is decentralized, people can't use a currency which constantly fluctuates, the value of fiat currency has to be steady, but not Bitcoin.

This is still a controversy that bitcoin must be recognized throughout the world, many countries that oppose the presence of bitcoin can even damage the country's economy because if bitcoin is used and attempted by the state then there is no income to the country or no tax due to the P2P bitcoin system and many also who want to use more Fiat money, Bitcoin is only for the community but spread all over the world and many people recognize it.

Even if bitcoin is accepted all over the world, it does not mean that they will abandon fiat, you should understand this. Indeed, crypto can save the economies of many countries, especially not the rich.

If bitcoin will be legally accepted by different countries, it doesn't really mean fiat will no longer exist. Fiat os already a part of the economy and people are used to having fiat circulating around. It'll be hard for everyone to adopt this changes so it's reall hard to believe that they will remove fiat. If bitcoin achieve legality, I think the effects are on bitcoin itself. It'll have regulations that can limit and help us with regards to crypto.

bitcoin is legalize the usage of bitcoin will still be limited in urban areas with people who can afford to purchase computer and smartphones. The problem will hit the extreme poor people and the people in far flung areas that has no access to electricity and internet connection.

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It depends that how will it be recognized. If it is recognized as a currency then I don't think people would use fiat but for that bitcoin should improve on it's speed and cost only high speed and less cost transactions would make btc practical.

I think for the future everyone will definitely follow the technology, because every day the technology is more extraordinary it only takes time. there will definitely be problems faced, that's the challenge.

In my opinion, Bitcoin will be regulated by most countries one day in the future and fiat currencies will start to evolve into something different. I think the governments will start to create their digital fiat money.

i agree. when the world make regulation about bitcoin and all of country agree about it, i think crypto wont have value. and maybe they have value from other coin like rank.
effect will be apply to country that have big user. and when there is no crypto user, i thing it wont give big effect to that country

indeed legality is not very important in bitcoin because bitcoin has free price movements and no one can control bitcoin so that when there is legality bitcoin will automatically make the condition of bitcoin prices rise because demand will increase.

I don't see too much future for fiat currencies in the long run. The world is evolving into a digital place. The future is on the digital currencies. I think we will see a big economic crisis in the future and that will speed up the process that fiat currencies lose their value.

Fiat will continue in a long run, it is indeed that the world is evolving into a digital place, but it doesnt mean that fiat will be replaced by cryptocurrency, we will still be needing fiat. without having a physical money, it is indeed be hassle free and convenient to anyone, but not every part of the world can adapt to the development of technology if this will happen even in fiat.

yes guys, i feel it too. every day the use of fiat money began to decrease, and switch to debit and credit cards. Fiat currency changes to the number display on the screen. so the possibility of paper money and coins will be destroyed in some future time. because all systems have entered the internet network.

I do have the feeling that paper money and coins won't be destroyed, Paper money does a large part on economy and it will be hard if paper money disappears. We know that if we want to have fewer hassle transactions in real life we do need fiat than credit card especially that not every store is accepting credit card or crypto. Imagine how would each government get rid of every fiat and coins in their own country. I believe that fiat will stay and It will be joined by cards, cryptocurrency and other payment methods available in the future.

it makes sense, would be a major problem about internet needs in areas that are not affordable. but I think in the future, all regions will be affordable for the internet. and there will be lots of atm for bitcoin. so they can use or without a card.

I agree with you Bitcoin ATMs can solve the problem with the popularization of cryptocurrencies around the world. Perhaps in a few years we will no longer recognize the cryptocurrency market.

Why wouldn't they?

The sustainability of fiat currency has little to do with Bitcoin. They are orthogonal. Bitcoiners tend to lean towards the Austrian end of the economic philosophy spectrum -- most will tell you that fiat currencies are destined for collapse either way. I think they're probably right about that.

Furthermore, gold is still probably the leading candidate for underpinning a post-fiat monetary system, not Bitcoin.

As the technology evolves, even urban areas will be reached by this technology in the future. Bitcoin ATM can help, but it will also require its users to stay using physical money.
also, if bitcoin will be recognized as a currency around the globe, I bet that this wont be the primary currency that we will all be using. Money from different countries have different value, it will never be equal to any other country.

National sovereignty stand in the way of Bitcoin becoming a global reserve currency, so do not expect Bitcoin to replace any Fiat currency anytime soon. Most countries have a very personal and close relationship with their own reserve currency and they have spend years to manipulate and strengthen these fiat currencies.  ::)

Something that you might see in the future are countries developing their own Blockchain based digital currencies or even some Alt coin linked to some asset to use as a reserve currency.  :P

Assuming Bitcoin achieved global adoption and acceptance, I think fiat currencies will still exist because there will always be a demand for it as a medium of exchange! Hypothetically, as long as there is one person in this world willing to accept or prefer fiat as a payment or a medium of exchange, then I guess fiat will never go extinct because there is  still a demand for it.

There is no way to form this type of platform following the current world situation, but in the future, the legality of Bitcoin regulation will bring a positive view toward the platform, I think then cryptocurrency will also work simultaneously, it will be a healthy competition for the  cryptocurrency and this platform surely will bring a lot of benefit for the people, not only that but also for the shake of this platform's sustainability, legal regulation must be needed. I wish this legal regulation will form soon then the popularity of Bitcoin will increase rapidly, but one currency's theory is not comfortable to me, I don't think this will bring any positive thing within this system.

I think Bitcoin can help fix a country's economy.  We all know that Bitcoin is an emerging currency and with it, is the blockchain technology.  Any country that became friendly to Bitcoin offers a good deal with it and start-ups can boom on that country which means, more job, taxes that can help in terms of livelihood and funds.  It can help the country to appear in the world in a sense that news everywhere will pop up regarding Bitcoin start-up booming in this country thus tourism in that country may boom too depending on how the country take advantage of the exposition.  It is a domino effect.

Most likely, Bitcoin will remain an asset, a means of storing value. The authorities do not want to replace fiat money with Bitcoin. Bitcoin kills centralisation, so it kills power, no one Big wants it. However, in my opinion, some countries still recognize Bitcoin and it will be legal there.

Even if all the countries recognize and regulate bitcoin fiat currency will continue to perform what they usually does, even if you are looking for a completely digitized world you cannot think that everyone will be transacting using bitcoin as not everyone will be planning to pay a fees with every transaction ;).

Countries who have trade restriction could overcome their restrictions by trading in bitcoin and the power houses who impose those restrictions cannot do anything which means it will be a free trade for everyone and there will be no restrictions.

No in such scenario Bitcoin will be the prime or master currency and other altcoins will be used for doing such transactions with blazing speed. because using Bitcoins for transaction could charge more fees, even take more time to confirm.


The legalization of Bitcoin all over the world is a bit challenging thing for not only just governments but also corporates, bureaucrats and even individuals also. to accept and implement it in day to day world.

In my opinion, By making Bitcoin legal government must have to show interest and give time to educate their people to enhance their knowledge about the digital economy. But it's still a challenging thing for the government to provide a supported environment considering current global conditions about network connectivity and knowledge about usage of Bitcoin.

The success of bitcoin is largely due to it being unregulated. You want it to become regulated thinking that it will increase its value but the history is telling us otherwise.

When New York was forming its bitlicense many bitcoiners were happy because they thought that regulation will pave way for institutional investors but it scared everyone away from NY.

Countries with less laws but no or low taxes like Malta and Estonia are what attracts investors.

It's already recognized all of the world, and it's been subject to a bunch of regulations. A lot of companies are able to accept and real with bitcoin in the current state.

The problem is adoption - not that legal issues. We just don't have enough people who want or are interested in accepting crypto-currencies as a payment method.

People don't like change. Using fiat is much easier and habit for them, which is why BTC might only ever be a secondary currency and it'll likely never replace the top coin.

We can't say that adoption must be abrupt, it only gradually increases the numbers of people who could appreciate Bitcoin. The legality of bitcoin isn't a question since we/everyone needs it as our assurance.
We could say that the majority are still using fiat at this time and we can't deny it but eventually, we are adopting into the new form of technology that could even help us more and fasten transactions which people appreciated it.

Exactly, future bitcoin users are hesistant because of the fact that bitcoin isn't legal yet and not acknowledge by the government and some supporters that have companies or business that wants to promote bitcoin are getting stopped by the legality issues thinkin that they might get sued for it.
Whatever the government announced legal the community  will follow and get curious about it and try it. This is the key factor to mass adoption.

Bitcoin, most likely, will eventually be legalized by most countries of the world, but it, like other types of cryptocurrencies, will not be used more actively by government bodies and business structures than other means of payment. Cryptocurrency, most likely, will mainly be used by individuals and will become one of many types of means of payment.
The national money of states, even in the distant future, will not disappear. The cryptocurrency will develop together with the regular currency and people will use various combinations of their joint circulation.

There will be no currency difference, yes, but more importantly, over a billion of people will be included in the global economy. Those who are underbanked or completely unbanked can now participate thanks to crpyto. Of course, the arrival of regulations that would make Bitcoin legal is only the first step, and people then must actually be willing to adopt it and use it. They need to be educated about it. There is a lot more to do, even after the legal issue has been handled. Which, by the way, needs to be done throughout the world, as a single jurisdiction or even a few of them won't be enough.

Really? A billion people? There are about twice that number of unbanked people and yes, most of them are like this simply because banks cannot give them accounts, because they either do no live near facilities or they even cannot have status like us normal citizens.

But I don't think crypto is the automatic answer for them. You think they can use Bitcoin easily if they cannot use normal money easily?

All values of currency will never be the same, we have to accept that every country have their own pride just like the US and China. Legality of bitcoin will affect so much its price and I'm confident if bitcoin becomes legal on every country its value will be more high and fiat money will just become a second option for us to pay our expenses. It can happen soon, let's believe on this and it will happen but it requires a lot of support from the investors and patience.

How can there be no currency difference?


Ahhh yes, You just that people cannot get access to baking since they have no facilities or make enough to afford to keep one open. Being able to use normal money has nothing to do with it at all. Bitcoin is much easier to use and access and it is much cheaper.

We may not hit a billion people but with legalization at hand we will expect tremendous increase of people who will join into the bitcoin community. We may not reach a billions but a million additional users all around the globe is a very big thing for bitcoin. Though we cannot have all people in the world gain access and use bitcoin but at least we can start wit the urban areas and that will be the start of bitcoin mainstreaming. Not only the adults will use if but soon their offsprings and thus in the end we may just hit that billion account in the far future.

I think fiat and cryptos are two absolutely different things. Even if regulators decide to legalize it and bring regulation on it they would definitely not make it a currency for day to day use and replacement of fiat they would only use it as an asset or security in which people can invest and earn returns or hold them for a period of time and such a thing would not have that much effect on fiat. They will still exist and no economy around the world would be hampered with this. Countries too would work normally I think there won't be any change in world economy at all with mere regulation of such kind Only that people would start considering Bitcoin as an investment option.

In some countries, bitcoin can already be used as payment instrument. But not to replace the whole, because in everyday life bitcoin and fiat can be used but the role of fiat is higher when compared to bitcoin. besides being used as a means of payment, bitcoin is also used as a valuable investment asset and also as a place to store value.
Bitcoin and fiat are both payment instruments, but regulations prohibit them from being used in various countries. For example Indonesia, they still prohibit bitcoin as a legal payment tool.

I dare to guarantee that the legality of bitcoin will definitely be made for the whole country, the proof is that several countries have made regulations and legalized them under government authority. What do you mean, there is no currency diference? I think even though bitcoin is legalized, it does not mean there is no difference for each currency, all currencies will still be different, all values are different, the legality of bitcoin will not equalize all rates in currencies. and bitcoin becomes the currency or commodity that will depend on the rules that will be made in each country.

if cryptocurrencies are legalized throughout the world, fiat currencies will be extinct replaced with cryptocurrencies in a simpler form without having to require a blockchain network in each transaction. the state is actually disadvantaged if the cryptocurrency is legalized because they cannot print money as they wish. and the citizen get benefits because the money value not affected by inflation.

Similar to how the things work now, Bitcoin will obviously have different purchasing power in various countries. Most probably in Africa you will be able to buy a Villa with the BTC you can buy a car in US or Europe for example. Bitcoin is flexible enough as it has up to 8 subdecimals and I'm sure they could be extended if needed through consensus. But I don't think that will be needed in the near future  :D

Bitcoin is legal in many countries at the moment, but it requires adoption. When BTC will be used more often than fiat currencies, that's when major economic changes will happen.

We don't know what would be the effect as even if bitcoin will be accepted worldwide but if fiat is still the most powerful bitcoin will still be limited and users will have to follow the rules created by the government, we might be using a standard rules for that and it will be the centralized government that will regulate us.
maybe if one day a certain country will decide to dump their fiat and will use crypto instead, it might bring some positive result to their dying economy.

Government keep aware with legal bitcoin as transaction payment because bitcoin price can't control by any one else, government do not fault if make bitcoin legal many people invest and price down will be government because very wrong with their legal for bitcoin as transaction, if bitcoin can be stable price maybe government want to adopt bitcoin as transaction payment.

it is possible that bitcoin will become a global currency. but I think it will take a long time. because now there are still many countries that reject bitcoin and there are still many people who don't understand bitcoin. and I think fiat money will remain until later. because fiat money has been used a long time. and in my opinion there will be positive and negative impacts for the countries of the world. and in the future bitcoin will be a good store of value, an investment tool and also a payment tool.

I don't think it will be a second currency I just think it will be one choice of many. Personal preference. It will be very exciting to see cryptocurrencies one the same payment options or logo outside stores.
It will then be widespread.

Already you can use bitcoin at many places alongside paypal. However, paypal is an option much more often then bitcoin even though bitcoin has a larger cap then Paypal. I would like to see more bitcoin payment options and not just Paypal. Sometimes even crypto-related things accept only PayPal and it is crazy.

Well, If cryptocurrency will become legal all over the world, I think fiat currency will still exist. They won't throw or replace it easily because of bitcoin is very volatile compared to fiat that has a fixed supply. Also, they can think that fiat is still useful since it has a more stable value compare to bitcoin and it's more convenient for daily use. Maybe in the long run bitcoin might be able to replace fiat currency but it might take a long time before that happens even if it's already legal.

my personal opinion if bitcoin is recognized and becomes legal throughout the world, I think bitcoin will become a tool of world trade transactions used by various countries in the world. for example in the case of export and import, maybe every country will use bitcoin as the value of the import-export trade. or maybe bitcoin will later be the basis of the value of fiat currencies like bitcoin today which is the basis of the value of all cryptocurrency. but please note, all this is just my personal opinion

Fiat will always going to work and I think it will never cease to exist but I don't know in the future, though. Bitcoin wouldn't work without fiat these days because most of the economy in the country are depending on fiat. What would be the crypto do in the economy Bitcoin is not a stable coin in the first place?

Trying to make it as a global currency is impossible IMO since every country has a different leader with different vision that they want to accomplish.

There is nothing complicated, countries always want to keep the economy related factors to be in control. This is where bitcoin doesn't get the legality, through this countries will try to break its decentralized power which is the one that makes bitcoin to be unique from the traditional currencies. At few countries have given it the legality which is truly a big thing. As everything is getting to be part of digital growth, maybe someday we'll get every single country have a consideration on bitcoin to make it legal.

I think if bitcoin becomes a legality digital currency, then it will put pressure on the fiat currency or government economy, people are automatically very many people today who want to trade with bitcoin and they also really want to invest with bitcoin because they know that bitcoin is good for investing in large amounts, and I'm sure if bitcoin has been formalized as a valid digital currency then the price of bitcoin will be higher because there are more of them interested in bitcoin.

If all countries legalize bitcoin will benefit those who use it because of the limited supply of bitcoin, it will make bitcoin more expensive.
but for whatever reason bitcoin will not be able to replace fiat currency completely and both will be used for transaction tools, because not everyone can use bitcoin because of the limitations of the internet network which is very important to be able to access using bitcoin especially in remote areas and limited public thinking power in its ability to use technological tools and not everyone is supported by technological tools and at least smart phones to be able to use them, and there are many other reasons and for whatever reason fiat money will still be used and as a symbol of the country's currency.

The demand will increase that's why its supply will be limited, it is not something to be afraid, but it will be the reason for its price to increase or even maximize its price over the time. Its use will also be expanded where everyone can be able to use it in many ways.

The use of Bitcoin I think will only be used by those who understand about the world of Cryptocurrency
not for other ordinary people are still very low in their knowledge of Bitcoin. If later Bitcoin is legalized, new Bitcoin users will increase.

When bitcoin finally achieve adoption and legality around the world, fiat will still remain. Even if bitcoin got legally accepted, it doesn't necessarily mean that all fiat will stop working. Bitcoin will work as an alternative currency but not as a main currency. There would still be currency difference since crypto will just work as an alternative currency just like how bitcoin works now with countries who ain't banning bitcoin.

The governments might legalize bitcoin and it can be used as legal tender or legal currency but it cannot be replaced by local currency of the country as fiat is physical store of value which can be exchanged for anything without the use of any internet transaction.There will be many people who would adopt btc but still people will prefer to hold fiat with them as its easy to use and without any complications.And there can be negative and positive effect like boosting of depressed economies or increasing illicit use of funds.Anything can happen who knows.

Specifications cannot be done until things happens and this recognition may bring another dimension for crypt currency worldwide .
What capture my attention is the word “There will be no Currency difference “ what does it mean? Is that about all crypto coins and fiat will be the same?if that’s what you are pointing then I will disagree,what will happen to Bitcoin as number 1 ranked coin if they will have same value with ethereum and Ripple?nope there’s no sucking like this that’s one thing I am sure of

That's true. If someday the legality of bitcoin is recognized globally, it does not mean that cryptocurrency will replace fiat. Fiat is one form of economic sovereignty of a country, where the government has full rights in regulating it in order to maintain economic stability in the country. While cryptocurrency, especially bitcoin cannot be controlled by anyone, the government may be involved only in the imposition of taxes related to all transactions and activities of its people with bitcoin. Besides that, not everyone is able to understand cryptocurrency, its technology, and how to use it, which is fairly complicated for ordinary people.

yes it is . crypto is currently spread globally but look at other payment methods  . whether offline or online kinds of payment methods , they are still there alive and useable . the existence of cryptos did not affect them but itll only improve them i guess because whenever there is a new system , companies are trying to collab with them  .  so that itll make it more easier to cash in or cash out on both payment methods  .

in my country Indonesian bitcoin has been recognized by the government and is very welcomed by crypto fans especially bitcoin, if the legalization of bitcoin in that country even if used as a transaction tool is good news for bitcoin itself apart from increasing bitcoin prices so people know what bitcoin is and the benefits.

Although i think Bitcoin will never global currency in the near future because all of the countries governments will never do legalization. Because you know that a lot reasons in the behind. Fiat money is playing very important role in every country because it’s own currency so that others any virtual currency cannot beat it. Definitely there are many difference between BTC and Fiat Money how you will go to compare with both of coins. There are no chances to carry both of similar values or demands.                

If crypto gets regulated and massively adopted, it doesn't necessarily imply that it will fully take over fiat. Fiat money had already our system and it is difficult to replace a system or medium of exchange that had been there for a long time in a snap.

These problem would be solve the technology as well, an idea that allows the legality and usage of bitcoin and cryptocurrency even in rural areas. Let's take an example, as single Radio Frequency Identification card might store cryptocurrency wallet (including private key), as well as the users information and what we just need is to distribute kiosk that will enable them to easily manage their wallet to check for their fund, transfer and more. In this case, the need for mobile phones, and computer will be necessary.

And when the legality will happen in every nation, then, boom, the price of Bitcoin cannot control anymore, it will be the price we are expecting at as the demand will continually. So, the least thing we can do before that will happen is to have our own bitcoin even less than 1 Btc so that when that happens, we will have profit too.   

Legalizations or regulations of Bitcoin to a specific country doesnt automatically mean the price will increase. Keep in mind that, not everyone is knowledgeable when it comes to cryptocurrency and blockchain technology. There's going to be a doubt at first. Plus, people might not get comfortable using Bitcoin as medium for transactions. 
I just had a though that were still far from global adoption, how much more when we're talking about global acceptance of Bitcoin and Cryptocurrency?

A person don't  have to know the advance technicalities of Bitcoin in order to use it.  We just need to learn the basic of sending, receiving, and securing the wallet which I think even normal people are  capable of.  Besides there are lots of tutorial on the internet to acquire those knowledge.

Legalization of Bitcoin will both attrack and repel users.  Those who hates centralization will be repelled and will look for another decentralized, unregulated cryptocurrency, probably privacy coins while those who are waiting for the government signal will flock in.  Possibly the one getting in will outweigh those who are going out which will result in more demand and start ups since Bitcoin enthusiast can move freely to spread out the news about Bitcoin due to approval and regulation of the government.

Legalizing bitcoin on a certain country won't increase the price instantly of course but it will surely affect the price of bitcoin slowly plus the incentives that the current country will receive. Like for example opening the eyes of citizens about bitcoin and the full acceptance of blockchain technology in their own country, That's why I believe that the effect of legalization on a certain country will take effect slowly.

Yes, it still has its progress before its price will surge.
Adaption from a certain country won't take effect instantly to bitcoin price, but we can see the changes in its price due to the increase in demand.
It will slowly increase until every individual that got into crypto will invest in it.

There will be an increase in prices if by legalizing Bitcoin then people start flocking to buy Bitcoin so that makes the demand for Bitcoin to increase of course If demand increases, the price also increases. I am optimistic that if many countries legalize Bitcoin, ordinary people will start learning about Bitcoin.

Bitcoin legalization will affect the price of the cryptocurrency. It can grow first, but further, its volatility will be decreased. So, it can be assumed that BTC will start to interest people more not as an investment but as the virtual money for fast transactions. Sooner or later, but most governments will have to make crypto legal as we have come into the new era of blockchain and virtual currencies.

Exactly that's the point. Bitcoin was made to give freedom to public, if we rely on government authorities than the purpose of bitcoin will no longer exists.
Regulation may be encourage global adoption but it will take away the financial freedom for which bitcoin was designed.
Moreover a single currency for the whole world seems unrealistic and will not going to happen.

If bitcoin will achieve global legality, then this will ne a good start for bitcoin tofinally achieve what it was lacking, which is the adaption of it. Because the only thing that hinders bitcoin to achieve supremacy is the oppression being done by some governments and countries. Bitcoin will be recognized if this really happened and will somehow affect fiat because people will surely patronize decentralization.

I don’t want to believe that the fiat currency will completely stop working because even the bitcoin itself was only designed as an alternative to fiat and not as a replacement to fiat. It may only gain more popularity than fiat and because we have so many people in the world right now that are all internet inclined, so it would not be difficult for them to actually migrate from the use of fiat to the use of cryptocurrency.

We will surely still have more people too that will keep the fiat system alive, we will have people that will also be using both at any time that is convenient for them. The people that I see the implementation and regulation of bitcoin as currency affect most are still the financial institutions like the bank, they will surely lose lots of customers.

You are absolutely right. Certain rural areas will be affected greatly. Fiat won't disappear easily. It will take decades for bitcoin to be generally accepted everywhere and used by everyone. The unlearned ones would find it difficult to understand what it is, much more use it. We have a long way to long to go ☺️.

If Bitcoin will be recognized and legalized around the world, it will surely bring a positive impact on its growth. Countries who will adopt it would benefit it as a mode of payment and as a digital currency. However, it will take time for most countries to legalize and accept it. There are still countries who lack necessities and equipment to adopt cryptocurrency. It's still inaccessible for a lot of people as well and they still need to be informed about it first.

People who are uneducated will find this system very difficult and for sure it will be hard to embrace and accept the change easily. It will take time and it will serve as alternative and not the main fiat as government all over the world will keep what they originally have and only take the adoptions but not the entire removal of their own currency. The effects will be positive in terms of consumption and adoptions it will bring more success to this industry.

in my opinion someday bitcoin will certainly be recognized by the world and get legality, and if indeed bitcoin has gotten legality from the government, I think more and more people who have not understood bitcoin will learn and want to have it. and all that can make the price of bitcoin higher because the number of requests will be even greater. we know the amount of bitcoin is limited, so people will save bitcoin for the long term. in my opinion legality will make prices even higher even though there will be rules that will be created by the government. and all that will not affect the interest of people who already have bitcoin at the moment.

To this about the negative effect, I think the continents that are having issues with social amenities plus internet which is the main challenge to be faced. Believe me, the internet is a major challenge why many people in less technical countries don't embrace digital transactions and so, it will further create more problem. Internet connections are more sufficient in some countries.

our generation may not have an effect, but in the future it will be clear that encouragement as an alternative will move smoothly into a negative change inductor for fiat value exchanged to bitcoin because there is no control of inter-crypto transactions and can be done at any time. can the government control their btc taxes?

The effect of legality will make the government unable to deal with currency controversies against various businesses that use bitcoin, especially currency laundering. There will be many problems that are not trivial.

In every thing their is negative and positive side, it is upto us to take which one is good. Same like when bitcoin will become legal world wide, then their will be lot of opportunity to each country, like lot of business will get developed through bitcoin and blockchain. More security will be their for every transaction but at the same time scammers will also become more and we have to be more alert in regards to it.

maybe in the future bitcoin will get legal rules and be recognized worldwide as a global coin. although bitcoin has become a global currency, I think fian money will still be there, because there are some people who don't understand technology, they always rely on fiat money.
and in my opinion, the legalization of bitcoin will improve the country's economy which legalizes bitcoin.

The legalization of bitcoin in every country has a big effect on the market itself. Since it is the most used cryptocurrency. It has a big impact because if it is being legalize in some countries that been banned, more investors will come and it has a great impact on the price itself. Making more money because the more investors the more people will buy bitcoin and a great possibility that they will support any other project that are coming since they are using bitcoin as their support but they can also earn while supporting other project. Just like in china if they are going to legalize bitcoin, we all kmow that china is a big country. People that want to invest in crypt but they are regulated before. It is a great help to the cryptocurrency community.

Never ever on a situation where Bitcoin would able to reach out this kind of certain state.It might be recognized or adopted
but it wont come to the point where it would replace fiat currencies.Of cours fiat would always tend to work.Saved some economy? Possibly!
Its just always been good to be an alternative but not totally going to become  mainstream.

If Bitcoin were to become legally available to people the fiat money would not be lost. It will remain until the world does not become equal!

This means that everyone will have the mobile phone, internet, computer and all the gadgets we need to have access to the bitcoin wallet!

But what about the people living in the corners of every country? the people who were not reached by the government service? the people who live in the mountains? people who are not in the center of commerce? How are they? How can they adopt such a technology?

Will they go back to the old days when they would use the gold, metal, silver and other stones to pay their bills when they went down the mountains and into the city?

I am actually hoping that fiat would keep on working when bitcoin gets a legal regulation all over the world. I am not longing to have bitcoin alone existing in our monetary system instead I want bitcoin and fiat to work in harmony so that each and everyone in the world could benefit from using both. In terms of the effect of it in the economy, we cannot be certain about anything yet since there's no living proof that can help us determine if it will cause detrimental effects to the economy or not.

The possibility for that is very difficult to happen even though maybe all countries have recognized that bitcoin is a legal payment tool. because all countries also wish to be the best and get recognition, which will probably become obstacles later. uniting in a legal currency for an entire country might be difficult because of the culture and feel of a decisive country.

Frankly, personally I cannot conclude that bitcoin will eventually be accepted in all countries and have laws. It might be recognized but it cannot replace fiat currency because its value is very volatile, so the economy fluctuates rapidly and it is unstable. If the government accepts this technology, maybe they will only create digital currencies in their respective countries with a stable value to keep the economy stable. It is possible that bitcoin will become a commodity item such as gold and its nature is only for investment and trading and remains as it is now.
Is not it now there are several countries that accept bitcoin but are not used as their country's currency. They just adopt it and impose taxes on citizens who do business in cryptocurrency.

You cannot expect the poverty to just go and disappear in the thin air.
You cannot expect the farmers to have mobile phones and do stuff with it when they are working hard physically.
You cannot expect the countries like North Korea , which is already going through a recession to actually go through with it .
You cannot expect the street markets to shut down when you don't really have any internet .
..
I don't think it happening even 50 years from now.

I think two if bitcoin become legal worldwide and under control by the government and the fiat is also exist, bitcoin and fiat are nothing difference because both is under contrpl by the government the proce value is stay what government want to be.

It is somehow helpful and seemingly may affect the standards of how it will be run. Legality is something regulated by the government and that will definitely change everything. Unless the government just declare its legality and certain rules are more favorable to the usual processes of it. Definitely, certain regulations will have conflicts with bitcoin policies and procedures and taxes may occur. Hopefully only illegal purposes will be decline.

I think this is why those countries actually need to leave the idea of them creating their own currency because it will just be unnecessary competition everywhere, they all have one common goal, and that is their responsibility to the human being that has been placed in their hand to control, and having one single currency will only unite majority of these brings in different part of the world together.

This is what many of these big countries like china, Switzerland, south Korea, France and the rest have seen that is making them to now give a thought to cryptocurrency, even though they are still, kind of shaky about it, but I am sure that soon than later, they will all give in to bitcoin usage as one coon currency amongst them all which I don’t think that it will have any negative effect on any of them, except for their selfish nature.

It is very difficult to see which country will rise to the economy when Bitcoin has a legal rule. But we can see which country uses the most transactions with bitcoins.

These 5 countries are the most Bitcoin holders :
1. United States
2. Romania
3. Czech Republic
4. Spanish
5. China

It could be that among the 5 countries, one of them will generate economies when Bitcoin has a rule of law

In my opinion i think bitcoin have a great effect in the economy and society of a country the legality of bitcoin was always on the line as we know bitcoin cannot be banned completely in a country anyone could is bitcoin anywhere in the world. Bitcoin is just like internet the government is cannot banned internet but they could blocked people from using it. Also bitcoin is completely legal to use  in many country but not everyone knows about it and the government was not sure about it.

Bitcoin and other cryptocurrencies could be an another form of payment for a certain country but I doubt that it will be replace fiat. Bitcoin is already been recognize across the world but some of them aren't ready for this kind of technology. Yeah this could be slightly improve the economic status of one country since crypto is known of having speed transaction and speed is necessary for this business industry.

You should also think that not everyone can afford to own internet, pc. You also have to keep in mind that not everyone has the ability to learn technology today, because even with the simple use of mobile phones, many people still find it difficult. So in my opinion the fiat currency will still remain and will not be lost, it will continue to be available to us for a long time.

Bitcoin is not created to be the sole currency in the world but it can be used for global trade without converting your base currency to different currencies and if you look at bitcoin in that aspect then you will understand that bitcoin can be used parallel to the fiat currency. There are many third world countries where they cannot afford all the luxuries but majority have mobile connection and if we have more companies with good user friendly application then everyone can use.

If the bitcoin will be regulate and will be accepted around the world then the fiat will be useless because bitcoin will be the one who will regulate and circulate around the world. There would be some country that will benefit on implementing it and there is also a possibility that their economy will grow and evolve because of bitcoin and cryptocurrency.
There would also some negative effect of regulating this because if the bitcoin regulate all over the world then maybe some person would be hard to use it because until now there are people who don't have mobile phones or gadgets to be use in able to transact and use the digital currency.

In my opinion, bitcoin requires legality and bitcoin must also be recognized by the world. As one of the currencies, at this time not all countries can accept bitcoin as a legal payment instrument because if it happens it will conflict with existing laws and regulations.
A possible effect of the legality of bitcoin is the reduction in fiat currency transactions for a small population of a country and will develop over time. But I am not sure that fiat currency will completely disappear and be replaced with bitcoin in the near future.
To get bitcoin, we still need fiat and maybe it will last a long time.

in my opinion the effect of legalizing bitcoin does not affect fiat currency and fiat currency will remain and no one will replace it because fiat currency is a symbol of the country, and both will go together to complement each other and money to buy bitcoin and bitcoin to get money, to use wherever you are.
and besides that not everyone can use bitcoin for a reason and you all know the reasons and obstacles?

I honestly don’t think so. Imagine a world where even if you buy a drink and you would wait for a few minutes for your transaction to be processed and on top of that you would be paying the transaction fee which we know is not that worth it to do so considering the hassle. I think Bitcoin or any other cryptocurrencies are better to be used and is more beneficial in international level rather than domestically.