Bitcoin Forum

My way to class this morning with some of my lovely course mate, someone raise this question that if our government decide to adopt BTC or make BTC legal how will i feel? I told him that the day our government will announce that BTC is now fully legalized in the country, I will throw a big party to host all the bitcoiners in my environment to join me to celebrate. If your government decide to adopt BTC or make BTC legal in your country, how will you feel?  Will you be among the people that will be angry because i know there are some people in our various places that think BTC is a scam digital currency which is not true, will you go to make them to understand it better in a positive way?

I'm not sure what country are you from, but Bitcoin is legal (ie not illegal) in most countries.
However, if Bitcoin will become legal tender, ie I'll be able to pay for everything I want with Bitcoin if I want to, then I'll be indeed very happy.

A bad idea to tell everyone around you that you have BTC's, after the party you may have just invited people to attack you physically and steal your BTC's, torturing you until you send it to them.
BTC is legal where i am. If the government make it a legal tender, then it makes spending it easier for me, so i will feel great.

I wonder if making Bitcoin legal tender also automatically entails a tax exemption on realized gains? That is probably different from country to country? I would like to understand the legal implications of something becoming legal tender.

Otherwise, making Bitcoin legal tender when you still have to pay taxes on realized gains at the time you make a purchase or pay your tax, there is still too much hassle involved in actually using it to buy stuff.

The label "legal tender" isn't so interesting to me. A tax exemption would make Bitcoin way more useful, even if it is up to a certain limited amount for single item purchases.

First of, for those that did not previously believe in BTCitcoin, it will no longer be a question of convincing them that Bitcoin is not a scam because they would have seen that even their Government has made it a legal tender and it is part of their official payment system.
Secondly, I believe that even when this is so, some people might still be reluctant to spend their Bitcoin because I personally believe that most people see Bitcoin as an investment than a financial tool, especially during the bull season however, I think I would love that I will be able to spend my Bitcoin if I fell like it.

I guess it could be a good improvement over long term, not going to really change anything on the very quick short term, we already had such a devastating earthquake recently that changed the whole economical scene, we were doing terrible before, and now we have over 40+ possibly as high as 80 billion dollars worth of damages and that's least of the worries in the short term, we have 50+ thousand of our people died in it, so when you put that two together, bitcoin wouldn't matter anytime soon. However, in the long run, like in 10 years or so then we can start to see how amazing of a decision it was for sure.

Legal tender should not mean tax exemption, knowing that the state is, by definition, hungry for money.
But if bitcoin becomes legal tender there might become pretty difficult to know who and how much bitcoin did spend, since the grocery store doesn't ask for your ID.

I guess that sooner or later bitcoin will be recognized for what it is: another form of money. Then it should be no need for such tax and legal tender would be easy and normal. But governments need to be interested to do such a move, so my hopes are very low on that.

I don't think it is the right question to ask here  ;D. Obviously, everyone in this forum will have a positive opinion about legalizing bitcoin in their respective countries.
If you ask me what I do if my country legalizes bitcoin I would talk openly about bitcoin and I will encourage people to adopt bitcoin.

But I think this dream of yours will not come true any soon, the government won't allow this to happen.

Neuroticfish, the country I came from BTC is illegal which is a big worry to us bitcoiners in the land but there are some promise some of the presidential candidates made during our general election that just concluded few days ago, that they will make Blockchain technology and cryptocurrencies available for the youths to make progress like El Salvador country.

Those who love Digital Currency don't think Bitcoin is a Scam or anything else. But Government think so. It should be legalized through the world to make new era of Currency system. I believe one day it will happen and in my country it will be legalized.

You should also feels the same kind of moves that excites just as when the El-Savadoran hears the news on the bitcoin legal tender adoption in their country and everyone was filled with joy and excitement, the same way we must also not forget that there will be few doubting Thomas as well we will say what good could come out of this, but just as expected, everyone wants something new to come in place.


It's worth celebrating indeed because this will be part of giving answers to the needs and demands of the people they govern, what you will be celebrating will indeed be freedom which the government wouldn't allow on a normal day to be given through banks but bitcoin did it.


Happy, because people will be financially independent.

Making Bitcoin/crypto illegal is stupid at best. The government makes (some of) the voters unhappy and also loses money it could get from taxing crypto gains.
So getting it legal is an easy step and a win-win situation. The "like El Salvador" is another step, a much bigger and harder one. But I wish you good luck and may the right candidate win and also fulfill his promise!

You can celebrate, but a party sounds very unnecessary to me, why will you want to host all the people into bitcoin in your environment, do you have any idea how many they will be and what it will cost you?  A big party like you have described will involve a lot of expenses for music, food, drinks and decoration, all these are unnecessary expenses, money that can be used for better things like even  buying more bitcoins to keep. Do not let your excitement make you make regrettable decisions.

If the Government of my country legalize bitcoin, this indeed would be a great news and another big win for the entire bitcoin community, this simply means that i can now buy and sell my bitcoins through banks and no longer worry about having to trust other people to send me my money or bitcoin after transacting with them through P2P, this indeed looks like a good win and calls for celebration.

But I wont celebrate anything, because even with the current ban on bitcoin transactions in my country, we are still buying and selling bitcoin and selling bitcoin without problems, and the beautiful thing is that, we are not paying any tax on our bitcoin earning/profit.
But then, when bitcoin becomes legalized, it is very possible that the government and banks will start taxing our bitcoin transactions and profit, which to me, is not something i should be really happy about, but generally, and for the sake of bitcoin adoption, i will be happy for the legalization.

Being happy about the news is enough and I think spending too much money to host a party just because Bitcoin is legalized is a waste.  Aside from that, your security would be compromised because many people will know that you hold Bitcoin and might make your family and your life in danger because there is a possibility that you will be targeted by people who do bad thing to make money.


In my country, BTC is already a mode of payment.  So we are free to spend BTC whenever we want.  I don't think it will make a huge impact if it becomes a legal tender but sure I will be happy if it happens.

In my case, the country where I am from has already set some basic legality on Bitcoin, which means it is perfectly legal to buy, sell and hold Bitcoin in this territory.
It has been this way even since before I started to get into Bitcoin and learn about it.

on the other hand, Bitcoin is not legal tender here (I do not expect it to be anytime soon), if some mirage happened and we got Bitcoin as legal tender I would be certainly happy, because it would much to our local economy and people to understand handling one's asset by ourselves is nothing to be afraid of (if we do it responsibly).

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For those newbies who do not have much of an idea on the reach of Bitcoin legality, Ill leave this map over here. Which is easy to find in the wiki.

https://i.ibb.co/v4GkDK0/pon.png (https://imgbb.com/)

Source: https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory

It may have a big difference if my government considers BTC as legal tender, its already legal to use BTC here but the adoption is too slow I can only see 2 stores accepting BTC in my city. If it's the only reason that merchants will tend to accept BTC, then surely I would be happy to use my BTC to buy something from them.

Keeping your privacy is better than partying and announcing to the public that you are an investor makes you look rich target for criminals.

Pretty sure you guys have some pretty heavy restrictions against bitcoin in there, or your country has outrightly banned you. That's besides the point though. The fact that a country could even control bitcoin in manners like these irks me sometimes, coz it makes me ask if bitcoin's decentralized nature is really that powerful enough to warrant being used in some places, and then I remember if it weren't this decentralized governments left and right will have vied for power already since bitcoin's takeoff in 2018. It will take time for it to happen. The government can legislate all bylaws helping people consider bitcoin as a form of legal tender but without proper education and support from the public, no one will ever use bitcoin for payments at all.

It will be my most desired surprise, to be completely truthful. Because my government now gives Bitcoin absolutely no recognition. Also, the government is overly restrictive when it comes to Bitcoin use. Someone must be punished if they are found out. If the government decides to legalize it in that circumstance. I'll be too thrilled. I own Bitcoin and will also accept it for payment in my business. All we have to do is make it legal, and we'll celebrate differently.

I think I'll be glad because now those who have been scared that Bitcoin might start to change their view of Bitcoin and the adoption of Bitcoin will surely increase and most service will eventually start implementing Bitcoin as a payment method in their businesses and that would be a wonderful feeling. And it's definitely going to affect Bitcoin market in a positive way because the demand of Bitcoin Will surely increase and those who have been hodling reasonable amount of BTC for quite sometime might end up making good profits from their stash.


You'll only just end up wanting your money, while not just use that money to invest in Bitcoin or perhaps since its now legal in your country you might want to invest the money by buying thing that will allow you increase the awareness of Bitcoin and also in educating them about Bitcoin in your country or community that way others can still join you in Bitcoin ecosystem.

Most promise has been broken but at least these candidates have an idea about Bitcoin and could probably bring this to legality.
Of course, we feel happy and could really have peace of mind holding it without thinking that the authorities may seize Bitcoin because it was illegal in the country. Now that it has some light, the more it encourages netizens to invest, stores to accept Bitcoin, and discuss more about crypto.

But based on your OP, I don't think we need to create a party for celebrating it, that was too much. But it was your way of celebrating it - you have the freedom to do it.

^Most countries now are BTC-friendly and I don't think how many of them decided to become legal tender.
Talking legal tender is difficult for the government side which is why until now recognition is the best way to show their support. If the government were to make BTC legal, it would be important to educate people about what Bitcoin is and how it works. This could help dispel any misconceptions or fears that people might have and encourage them to approach Bitcoin with an open mind. Educating people about BTC's potential benefits and risks would help them make informed decisions about whether to invest in it or not.

I'll be very happy and have more confidence in what I'm doing, considering the illegal use of it in the country and strict rules being put in place to regulate or prohibit its use. The adoption and acceptance of Bitcoin will increase as it becomes legal tender irrespective of the country. Many people are simply waiting for government approval to begin saving or investing with bitcoin. This news will undoubtedly be beneficial, and I anticipate that it will occur in every country around the world.

i would rather keep it to myself as well and not partying with other people. if the government will make it fully legal, it means, they also have tax protocols on this market. so do you really want this to happen, especially if you are just a small holder of btc? i guess not. most of us here want tax-free btc transactions. but if the govt will be strict about it, definitely, they will put those tax protocols in place.

It helps in creating more space for cryptocurrency and it's awareness. People need to understand well about it and get into the market. When there is support from the government, the scams in the name of cryptocurrency can be reported and the same helps in creating good reputation for cryptocurrency Market.

Well in my country btc is already legal but it is used by so many scammer, that is why most of the people think that btc is scam, but if we do research btc is not a scam the scammer only used bitcoin to scam others that is why the image of btc is not that clear in here and it is now ignored by so many people.

Actually, Bitcoin is already legal here in my country. It may not be a legal tender, but it is legally accepted, albeit not as a currency if my memory serves me right. But it surely could be used for payment, although once transactions reflect in the books, they will probably be denominated in fiat and not in Bitcoin or Satoshis.

There is even an undergoing effort here to create our own version of Bitcoin beach, probably inspired by El Salvador's Bitcoin beach. Some players are trying to replicate that here. Lightning payments are also accepted. So far it has limited success.

To be honest, I really don't care whether the government will accept Bitcoin. Because I use Bitcoin as an investment, a place to store assets, and I don't want anyone to know it, whether the government is legal or not, I have never cared. I am wondering, people always praise Bitcoin's privacy but everyone wants the government to accept it. How, when Bitcoin is widely used, will it get privacy?

I will be very very happy if my government announce that bitcoin is legal from now on in country. Maybe I would give a party to my mates at my place to celebrate that happiness and joy.
I’m sure some people thinks that bitcoin is scam or things like that, but I’m not among those and I would be very happy on such announcements

If the government of my country were to adopt BTC or make it legal, I would feel extremely happy as it would demonstrate a significant development in the recognition and legitimization of cryptocurrencies. This would indicate a growing acceptance of this new form of currency, and I would be excited to participate in any event or celebration to commemorate the occasion. Although some people might be doubtful or suspicious of BTC, I would remain positive and respectful when explaining its advantages and potential, hoping to educate them in a non-judgmental way. Overall, I believe that the adoption of BTC by governments worldwide would be an optimistic step forward for the entire cryptocurrency community.

Well, I'm a bit difficult to understand the people in your country. I think people who have not used Bitcoin so far because the government has not accepted it as legal, so people think that Bitcoin is a violation. But for a country, if Bitcoin has been recognized, there is no reason to consider it a scam, if everyone says it is a scam, it is not different from telling your government is also a scam. What about money? Money is also used by criminals, is it a scam?

if the government legalizes bitcoin, of course we are all very happy for the decision, because bitcoin is indeed a digital currency that must be protected and can provide great benefits for the community and can increase income in a country, and we as bitcoiners certainly have to make a thanksgiving event because what we are proud of now has finally been legalized by the government, But we also have to know that there are good and bad sides because not all of our government regulations can live up to the fullest.

Even in countries where bitcoin is banned, people are still using crypto because of the benefits. It is very hard to regulate crypto in general even for the government. One example of this is in China where people are still using Bitcoin to pay for different types of services.

However, I am in full support of all governments throuhoght the world making crypto legal. In fact, bitcoin should be made a legal tender so that it can be used like currency. Then we will see it being adopted even by small stores as a means of payment.

I will be happy because finally, the government can approve and legalize the use of bitcoin. This means that people no longer need to be afraid to use bitcoin and local shops can also start using bitcoin as an alternative means of payment other than fiat.

But if people are outraged by that, the government should explain that bitcoin is not a scam and that what they understand is wrong. It's time to open their minds to understand the real problem because maybe they are deceived because they have joined an investment program in the name of bitcoin even though it has nothing to do with the bitcoin project.

Bitcoin is mostly legal as a commodities, just few strict and private countries are ban Bitcoin. Since most users are seems to be happy if Bitcoin is legal, I think what they mean are Bitcoin is become legal tender. I'm not completely sure why many people are seems to be happy if Bitcoin become a legal tender, it just make the government will trying to control every users' holding and asking KYC. Although it do increase Bitcoin adoption, but I'm not happy when the government want to be more serious to regulate Bitcoin.

Bitcoin is still illegal in several countries. But the way Bitcoin is constantly increasing in popularity, I think that it will soon be recognized as legal in the countries that are still illegal. But now almost all people in the world know about Bitcoin, so many people are interested in using Bitcoin. I think that way.  The number of Bitcoin users is increasing but very soon there will be a chance for Bitcoin to move to a better position.  But I would like to say that Bitcoin is now the best time for us to hold, if we hold Bitcoin we can get a lot of money from it after several years.

At the end of the day, when most governments decided that Bitcoin was a taxable asset, they decided that Bitcoin was worth something.

I don't think they will ever try to ban it since they can make money off taxing it.

I would feel pretty good about it knowing that the government is there to make my life easier unlike the other governments. You know crypto people usually don’t like any centralized entities. Governments and the central banks are the prime examples of those entities. But when a government legalize crypto (like the government of El Salvador did)  instead of banning or ignoring it that changes everything. Suddenly the government isn’t something you despise anymore. It becomes a powerful ally.

Well, if you ask how bitcoin users feel when the government legalizes it in their country, of course, that would be very good news. Maybe a lot of people will have a party, and I personally will be happy to attend the party. Besides, I might think about and build a long-term business that accepts alternative payments like bitcoin. It would probably be a very big opportunity to set up an offline business that accepts bitcoins in a country. It will attract various crypto users to visit our store to make transactions. Unfortunately, until now the government in my country still prohibits bitcoin from being used as a means of payment.

Me, I will be happy because I know what Bitcoin is and I know how Bitcoin works, and how it will help the finance of the country.
My comment for those people who are thinking that Bitcoin is a scam is yeah, I respect their opinion, but when they give an opinion without knowing how Bitcoin works or don't really know Bitcoin, it's unacceptable. Before they will say something, they must first to know what they are telling.

You sound like someone that likes flexing, well, health is wealth which man need to celebrate good things. That business will really bring more crypto users to do business with you  because people are tired of using Fiat money on the time to buy goods in the community. I believe, the government will soon respond to the cry of crypto users in the land and it will remain permanent for the next government to allow it to continue .

If Bitcoin becomes legal tender, doesn't mean everyone will accept Bitcoin as a payment method. If any service or store doesn't accept the payment gateway, you won't be able to make a payment. On the other side, You are still allowed to pay in Bitcoin if the service Store or person accepts the payment method. Of course, we will see mass adoption if it becomes legal tender. But, there is a chance that government can try to imply a tax on your Bitcoin. I don't know how it will work. But, it's just an assumption.

I would say people should be happy until Government doesn't approach to ban Bitcoin. There was FUD about banning Bitcoin in the USA. But, The officials said they do not have the intention to ban Bitcoin.

If you are into this industry in the first place then for sure it won't be surprising fmthat you'd be happy. In my country, cryptocurrency adoption is somewhat neutral. You are free to use and invest cryptocurrencies but won't be encouraged by businesses to do so unless they are also into this technology, but there are only few who does so. Third party wallets are currently trying to adopt cryptocurrency oayments but thru fiat still which means it is not a true adoption of this technology but more of a way to tax transactions. At the present, there are only few countries wherein cryptocurrencies are actually being supported. But all I know is that, if it is acceptance to this technology because of taxation, investors won't be happy.

Just because you invest in bitcoin doesn't mean you have a lot of bitcoins or a lot of money, so there's no need to worry about being attacked by bad guys. Many people get rich in business without bitcoin, and I have never seen them attacked by bad guys, unless you are a bad guy who is hated by others.

Actually afaik this is what legal tender means: everybody has to accept it as payment method.


(I've bolded the important part).


In my country bitcoin is not illegal. But it's also not legal tender. And since bitcoin is not illegal a few shops accept bitcoin payments, legally.
As I said, I do wait for the next step: seeing it legal tender.

Indeed by definition legal tender is something that is acknowledged by the law as a means to settle private or public debt or meet financial obligation.[1]  Since it is acknowledged by the law, everyone is obliged to accept it if propose as a method of payment or settlement.

here is another information about legal tender..


True but still it is better to be in low profie, bragging too much about having Bitcoin will attract people with negative intentions since people will have a misunderstanding thinking that you have Bitcoin, then you are a rich guy.  There is a lot of news about people being kidnapped and robbed because these bad people thinks that they have lots of money.  I wonder why you did not even noticed these kinds of news?

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[1] https://www.investopedia.com/terms/l/legal-tender.asp

for the government to finally accept Bitcoin as a legal tender is going to be a good news especially in a country where Bitcoin was never a legal tender. This is push for more people learning and adopting the use of Bitcoin which is going to make money people to understand the necessity for us to invest in Bitcoin. Countries like El Salvador are already making plans to ensure that there is equipped tools available for people to learn and start using Bitcoin for normal transactions.  There are people who are already into Bitcoin investment and trading making a living it.

Bitcoin has never been illegal where I live so technically it has always been legal so I cannot really celebrate something like this, the next best thing would be if bitcoin was declared to be legal tender in my country, and if that was the case then I will probably buy a few things that I wanted to buy but which I simply decided against at the time as a way to celebrate that bitcoin is finally being recognized by the government of the country in which I reside as legal tender.

Bitcoin is not banned in my country, nor are Bitcoin adopters subject to any penalties in my place, but all individuals interest in and investment in Bitcoin is at their own risk. Unless Bitcoin is illegal in your country, I do not believe it has become legal tender. If it finally becomes legal tender in your country, then you can think of throwing your party because then you can easily shop for anything and pay with Bitcoin😉. 

I will be very happy for sure. Mostly because I'll be able to confidently tell everyone that yes I earn my income in bitcoin and have been investing in it since so much time. Currently people of my country see investing in bitcoin or earning bitcoin as a bad thing. As per them it's like dealing some scam or shady thing. After such legality those same will look upon me for the guidance.

the presence of bitcoin in this world some people like it and some don't.
Likewise with the government there is a positive view and there is a negative view.
but in my opinion the presence of bitcoin in this world has a positive impact on society because the existence of bitcoin can open up good opportunities for the future of society, especially in the economic field, and it has been proven that many have been successful as a result of investing in bitcoin.

so of course if the government legalizes bitcoin, my feelings will be happy, because if it is legalized by the government it will make people who invest in bitcoin feel safe.

sure if in a country investing in bitcoin but it has not been legalized by the government, then the effect is definitely as you mentioned.
and actually the answer to the op's question is actually quite simple, ie.
if the government supports its people towards the adoption of bitcoin, there are definitely 2 people's answers, namely:
some are happy and the second there are those who disagree.
but for people who are happy that bitcoin is supported by the government, they will definitely be confident when investing in bitcoin and will feel comfortable because they are protected by law and so on.
In fact, in a country, people who buy and sell transactions on an exchange are taxed, and in my opinion that is a positive thing because the existence of a government tax program is also helped and the government will definitely use it to develop the country.

Oh wow. Thanks for the reference. I do not believe in myself. I would argue with you if did not provide the reference. I am still in a confusion and want to discuss this further. In the USA or whatever country wants to adopt Bitcoin as legal tender, they have to wait decades until 100% of people understand how bitcoin works. Because, when you make it legal tender, They must have to accept the payment method when offered. Imagine a guy never heard of Bitcoin and you offered him Bitcoin to buy something. If he denied to accept it, is it any law or rule violation? If so, we have a long way to go.

If that happens then surely we will all rejoice and be happy. But I still won't brag that I will own bitcoin, I still want to keep my privacy even if bitcoin becomes popular. Honestly, if the government legalizes bitcoin that would be great but I still don't want to trust them too much. Once they accept bitcoin, that means they will find a way to control us and also seek to tax the people who use bitcoins. They will do everything in their favor, and they never care about our benefits, which is what the government has done for years.

That's so nice of you that you're gonna throw a party at your own expense.  ;D

We're on the same forum that's all about bitcoin so, there's no sense that I'll be angry with that adoption. I'll definitely be happy with that announcement and there's no need to think about people being stopped from their progress of learning and having bitcoin. Because in other countries, even if people want to learn more about bitcoin, there's a hindrance that they can't proceed and that's the rules of their government about such. It's a positive development for the people that do really hold and invest in bitcoin if ever the government announces it as legal. No barriers anymore but we can learn from El Salvador that not everyone will like it.

Slowly most of the government is adopting bitcoin, even in my country, bitcoin is slowly getting adopted into different platforms or banks, they now allow their users to be able to buy bitcoin or cryptocurrency on their platform some of these platforms promote buying bitcoin and when users buy bitcoin or just used bitcoin to buy foods, items, etc. you will get a small cashback reward on your account or even have a chance to win jackpot money.

I mean that would be great news if bitcoin was legalized in my country but I guess as long as bitcoin was not illegal so you could basically do everything on your bitcoin. I just feel like it doesn't need to be legalized since even today we just use bitcoin and invest in it. Also legalizing bitcoin would be a long process and probably most of the government would take advantage of it probably bigger fees, etc.

You put a question like that in this forum which of course most people in this forum support bitcoin.

so if the government legalizes bitcoin for the people for sure, my personal answer is to feel happy because I can freely invest in btc and don't need to be ashamed to tell anyone about the benefits my can get from bitcoin.

If bitcoin is legalized in my country, of course, I will feel happy, because I was familiar with bitcoin first, and of course it will be easier to transact in various places in my country. on the other hand, of course I will be busier, because there are many people around us who don't understand bitcoin, so educating them is a separate activity and of course it will be more fun, especially if there are a large number of residents in my country, hopefully it will have a positive impact on the price of bitcoin, and I feel the benefits

If it were to become legal, I would be among the people that would think that it was a positive move. I believe BTC will someday come to be known as a medium of exchange globally, so making it legal in one's country is really just a formality. Adopting BTC generally seems to be just a matter of time and I believe the fact that governments are getting involved indicates that this is the direction things are heading. I'm excited to see how things progress faster for adoption in the future.

Even if bitcoin is not legalized by the government, you have nothing to be ashamed of when investing in bitcoin. You invest in your future, and your family, not your honor with everyone. Don't think like that, just be yourself, put aside silly complexes, we live for ourselves, not for others. When I first invested in bitcoin, many people laughed and thought I was a waste of time, but when I made a profit, my life changed, they started respecting me again. But I don't care what those kinds of people say, what I care about is that my wife and children have a happy life while I earn money.

Legal in what sense? several countries have legalized Bitcoin related to asset ownership, but most people are still waiting for how Bitcoin is used to legally pay for goods and services.
if the government is going to legalize Bitcoin as legal tender, it will be the day the shackles of the old payment system end. some people will support this, for those who do support Bitcoin. but some who have difficulty will certainly oppose it. all take time to transition to a new system. much to be prepared and calculated by the government.

First of all, of course, I will be happy that Bitcoin will become a legal tender currency in our country when this kind of thing is decided by our government here.

       Second, for those people who believe that bitcoin is still a scam for them, all I can say to such bitcoin beliefs is that they are ignorant and ignorant of Bitcoin. Because for 13 years they still don't understand bitcoin.

I think I wont feel any difference from what I feel now towards cryptocurrency. First of all Bitcoin or cryptocurrency isnt illegal in my country. What government cares is that I must pay income tax if I get any income. That is all.

I think OP wanted to find out how we would feel, if we will be able to use Bitcoin as a payment instrument directly; to pay directly in BTC. That is different. If BTC will be the only currency in my country, then my attitude wont change much. We have switch one «currency» to «other currency». Not a big deal, as I will still have to make payments, no matter what currency I use. If BTC will be an addition to fiat, I think I wont feel any difference from now, as I will still pay in fiat, but hold crypto till, lets say new ATH.

Wait, wait, wait. Is Bitcoin illegal to your country that's why you're asking this?
I mean aside from the countries where they banned accessing Bitcoin, Bitcoin isn't illegal to most of the countries, so it's legal.

Maybe OP thinks that Bitcoin being legal = Bitcoin is accepted as a legal tender by the government. If that's the case then I'm afraid it will not happen for numerous reasons. I can't answer OP's question because Bitcoin is completely legal in our country and hasn't been illegal since the time I'm using it.

A bit late to see this so Bitcoin is illegal in your country then. Don't expect too much from these politicians. They might be using Blockchain just to increase their chances of them winning. They're putting you into a trap where you believe that they really will do it, but when they win, they will not. Well, it's very unfortunate that Bitcoin is prohibited in your country though.

The specifics are a bit different in each country.

Some countries have Bitcoin as legal tender, others have it as an asset, others ban it, and others don't have an opinion about it.

In some cases it's seen as bartering. It really depends on the jurisdiction that you're looking at.

The thing is that Bitcoin is way more advanced than the current state of laws about money around the world.

for me is it legal or not bitcoin in my country it doesn't matter the important thing is i can get bitcoins in my wallet and i can sell them whenever i want even if bitcoins are legal of course when trading bitcoins it will be taxed for the country so for me it is my loss .

Nations with a lot of money totals should make it legal if we want to see it go up. Like for example China is not a nation where everyone is super wealthy, but when you look at them as a whole nation they are amazingly rich, the factory guy who made your shoes may not be rich, but China making it legal and support bitcoin would suddenly take the price super high.

Same goes for all nations that are rich when you look at the whole nation and not individually. That means the rich people of those nations are super rich and the wealth gap is big, but we need those rich people anyway, and they would only invest if it is made to be legal and supported by the governments.

Lol if Bitcoin isn't legal in your country, it's not that easy to sell your coins in 100% anonymous way because Bitcoin usage is illegal. Yeah your wallet doesn't ask your identity, but what about the exchange you used? even you're using a decentralized exchange, you still need to connect your bank account to receive the money, you're leaving the trace to the exchange.

If you're make profit in Bitcoin trading, you wouldn't loss if your country taxing your profit, because there's no way the tax is higher than your profit.

There are few countries at this time which has completely banned the usage of bitcoin and other cryptocurrencies but on other parts of globe if it's not legal tender you can use it on your risk.But yes it would be great feeling when our government would make it legal tender as we can use it freely for the actual purpose of making payments at our local stores but beleive me many people would still take it as investment tool not to pay off their bills as they want profits in long run.

I guess he is talking about making Bitcoin legal tender, but that is ages away at least. Perhaps it is never going to happen, but my guess is that it is not even necessary and Bitcoin will find its own way into society no matter whether or not it gets officially acknowledged as legal tender.

Bitcoin just has not been criminalized in many countries. I don't think that many countries have explicitly stated that Bitcoin is legal. In most places it is just not illegal. I guess that many governments want to leave a door open just in case. Once you officially legalize it as explicitly written in the law, I assume it is harder to revert the decision than to just decide at some point to criminalize it.

But rest assured, no sane government wants to forego a significant amount of taxes and since they understood that it is essentially impossible to stop Bitcoin from changing hands, they rather "cooperate" with their citizens and offer regulation for taxation.

I guess there's no problem celebrating a big party like what he wants as long as he have the money. Practically thinking yes it is so much expensive and he needs to spend lots of money. If he is a multi millionaire and thats how he celebrate things such as btc  being legal in their country why not right? Think about rich people in your country they do big party event when something good happen to them like winning or anything good. Its expensive but the memories they make is irreplaceable and they know they can gain those money again that they spent for the party.

That’s quite interesting topic to discuss. But to be honest, the government will think thousand times before doing something like this. If it has to be done, then by now many government should have already done it. But they know the power and features of Bitcoins. They know, if they make Bitcoins legal, still they won’t be able to keep trace of each and every transactions of the Bitcoins. All thanks to the decentralised nature of Bitcoins, for which the Bitcoin users don’t have to rely on the government regulated exchanges. To be precise, I really won’t care if Government makes Bitcoins legal.

Yep, you are in confusion.  :D
Do you know how banking works? Do you know how Visa/MasterCard and the partner banks settle the payments? I'm almost sure you don't, and you still use cards.

This being said, a lot of wallets are being made lately, some of them very easy to use (albeit some are custodial). Absolutely ordinary people pay or get paid with bitcoin. They don't know how it works, all they know is how to use their wallets to pay or get paid. As simple as that.

If my country decides to make Bitcoin legal, then I will feel indescribable happiness, and I will get rid of the anxiety and fear that afflicted me when dealing with Bitcoin and cryptocurrencies because I am currently under the weight of the law. If Bitcoin becomes completely legal in the country, I will not be threatened with paying fines or being exposed to legal penalties, I hope to wake up and this day comes, and I will try with all my power to spread awareness among people and educate them to engage in this field so that financial transactions only with Bitcoin and cryptocurrencies become safe in our practical life and without any legal and central threat. The future hides many subtleties, so I hope Bitcoin will be widely adopted and legal in all countries, with legalization and regulation to comply with international and local regulations and laws.

To elaborate just a bit further, and if I am not entirely mistaken here, even the merchants doesn't necessarily have to know that you paid with crypto as there is a middlemen in the backend providing the infrastructure for instant conversion of your Bitcoin into the appropriate amount of fiat currency that the merchant is asking. This means that you are essentially paying the equivalent of Bitcoin to the middlemen in the equivalent amount of fiat currency that the merchant is asking the middlemen for to settle the transaction.

Everyone would still be free to choose. If someone has no idea what Bitcoin is, that someone is also not going to settle taxes in cryptocurrency. But those who are mainly dealing with cryptocurrency would now have the choice to do so. 

Bitcoin is not illegal in my country but it is not considered legal tender. I'll be very happy if my country will follow the steps of El Salvador and the Central African Republic. I am not a whale nor a small whale but I will probably remain private as much as possible. I will be one of those that will use bitcoin as a regular currency in normal transactions but of course only if the fees and prices are similar to the normal expenditures using fiat. I really hope that within 2030, a lot of countries will adopt bitcoin as a legal tender.

I would be very happy if the government in my country fully legalizes bitcoin because when bitcoin has been legalized, what is certain is that we can use bitcoin to make all types of transactions, one of which we can use as a legal means of payment, but unfortunately at this time the government of my country only legalizes bitcoin to be used as an investment asset only so that in my country there are no merchants that accept bitcoin as a payment option, I hope that with the increasing adoption of bitcoin globally, hopefully the government in my area will also legalize bitcoin later and follow the steps of the government of the state of EL Salvador.

Bitcoin is not legal in my country but I will be glad if it legalised as a means of exchange, it will help many people to know about what cryptocurrency really is. Presently a lot of people in my environment thinks Cryptocurrency is scam especially Bitcoin because that's the one most people know by name,so due to the volatility, that it can swing both ways, they think it's scam. So I will be very happy when It is adopted by our government.

Of course it will be amazing to have my country join the list of countries like el Salvador and the central African republic that have made Bitcoin a legal tender.it will be good because monetization and authentication of Bitcoin does not require central authorities or third parties and it's safe and secure.it will ease the rate of doing business and suffice for the cashless policy that my country is fighting so hard to implement and yet haven't been able to achieve it for so long now.

I would most certainly love to be a guest at your party because I can assure you confidently, that I will be happy.
Unemployment first of all would be reduced for majority of the youthful population who own a smartphone and have knowledge of internet.
For those who have been dying to be free from a boss at a white collar job they hate, Bitcoin could just be the redemption too.
I will be very happy indeed, mostly as I already know just enough and willing to learn more.

The government legalized bitcoin not because they want it to grow but because they want to control and tax those who invest in it. I also don't care much whether my government accepts bitcoin or not because, so far, what the government has done is for their own benefit, never for the people, for the country as it is often said. I am not against the government, but they are human like us, personal interests still come first, so I do not expect any decision from them.

In my opinion, Making Bitcoin a legal tender won’t cause any exemptions on taxes, (I can beat my chest to that, lol). Governments that would approve Bitcoin as a legal tender would still want to benefit a way or two from it and as we know, it’s only through taxes they can stand to benefit from Bitcoin transactions. We can not deny that taxes are crucial for the smooth running of any country, and they play a significant role in any country’s economy. As we all know, taxes provide a significant source of revenue for governments, which is used to finance public services, infrastructures, healthcare, education, defense etc. Now look at the benefits, the government would not want to let such pass them as they know a lot of exposed persons will love to transact with Bitcoin.
Nevertheless, without the taxes, it will be very smooth and non time consuming. I see your point but any government will want to seize such opportunity to earn.

That is actually the common view we can see from legalizing Bitcoin. It was sad to say but the government won't take action without expecting returns and benefits and they urge holders/users to pay their taxes once legalized. We are the same, I don't see it was too important to become legalized because as long as it was not banned, people are still free to acquire and use their Bitcoin, and also stores are free to accept payments. But in the moment that the government will have control over crypto, problems may occurs and afraid of being abused.

I will be very happy because it will result in massive Bitcoin adoption within the country and will also bring a long-term alternative to the banking system where people will have full control over their wealth because Bitcoin is transparent and does not require any third-party; additionally, the government will benefit from it because they will input tax in any Bitcoin transaction within the country which will help the government to get more funds to aid any of their work.

Okay, I got your point. Let's forget what I know or I don't know. Let's talk about ordinary people. I don't think Bitcoin is simple as other payment methods. Especially if people use the Native chain of Bitcoin. If people use Coinbase to Coinbase or Binance to Binance, that's another thing. But, Native chains transactions are not fast as other payment methods.

People will get used to it once they start using Bitcoin. But, I don't think ordinary people will like Native chain because of the transaction fees and the time it takes to get confirmed. But, if people get used to with Lightning network, it will be revolutionary.

On this you're correct. However, the wallets too are on the right direction. Some of the LN wallets, although I've seen them for now only in short movies on twitter, have impressed me. And LN is fast too (although some will argue that LN is not actual bitcoin because is not on chain), so I expect this is what most people will use.

Of course, most of the more advanced wallets we use for on-chain transactions are not as newbie friendly as we'd like, but yeah, since they are done by people in their free time, we cannot complain. They are far from bad though. Still, I do agree with you, on this chapter there's plenty of room for improvement. PS. The fees aren't that big, you can still send easily at under 1$/transaction. Still, even if they go way up, keep in mind that it should not be feasible to rent an armored car in order to send 10$... and on chain that's pretty much what we do.

I will never feel happy if the government imposes a high value tax on bitcoin legitimacy. If legalization is given to improve quality of life and provide opportunities for new investment, it will certainly be commendable. As Bitcoin is helping in different sectors and it has a lot of uses, I really want see Bitcoin in a good position in our country.

In my country four million people are connected to crypto currency unfortunately the government of my country has yet to respond positively to it. It was discussed a few times by some positive good among the ministers but it was not implemented. Rather, the hunt is on to take custody of those who are connected with cryptocurrency.And as for me, I work with crypto currency very secretly and with fear. I want to do many things starting from mining to start working on different projects but I don't have any desire or insistence for this illegality.
So after reading this I cannot express how happy I will be when crypto currency is legalized in my country. But happiness will last only when the government taxes it at a tolerable level. ::)

I am sure that this will be the case, as soon as the cryptocurrency is legalized, we immediately received taxes on all cryptocurrency transactions.

I do not aspire to mine, as I do not have sufficient knowledge and time for this, but I invest money in bitcoin and therefore I would like the cryptocurrency to be legal in my country. Governments ban everything they can't control, that's how it's always been.

We dont actually need it and its really that unlikely that most of governments would really be going into this path considering that BTC is decentralized and something that cant really be controlled totally.

Yes, we've seen that there are places in the world did really regulated and recognized bitcoin but of course they are only be able to touch up those services or platforms which are involved into it and
not directly into it or literally.This is the main reason on why most of government arent really that liking for it to be adopted.

If ever this was ending up on legal in our place or where i do live then its great but i dont see for it to be necessary but for the sake of exposure and recognition then this is what we do need.

Bitcoin is almost legal in most of the countries. Even the people living in the countries where bitcoin usage is illegal have got the best usage accessibility. For this reason the governments stand on bitcoin won't cause any big change around. Everyone have the same feeling as now. In my view the people who were in fear of using bitcoin and other cryptocurrencies will find it good and make their participation.

Once the legal announcement comes, more number of people will have bitcoin acceptance into their businesses which is one of the best thing and the same helps with the better usage of bitcoin all around.

You did not mention if where that country you meant for but it is expected that most countries now are more friendly to bitcoin though it is not yet legal but at least they recognized it as a secondary option to fiat. If your government were to legalize bitcoin, it could have a significant impact on the broader adoption of cryptocurrencies, potentially leading to more widespread use and acceptance. If you are passionate about bitcoin and its potential, you could consider educating those around you in a positive and informative way. Sharing your knowledge and experiences with bitcoin can help dispel misconceptions and build greater understanding and support for the technology. So good luck and enjoy using bitcoin.

Almost people are free to use it and not much restrictions in the name of legality. People are free to use it all around. When the legality of any country is declared people freely openup and this paves path for better progress in the market. The spreading happens in a faster way, as people who were investing in cryptocurrency secretly will talk about it. More unknown people will get to know about it. More positive things could happen associated with bitcoin.

Yeah, it's mostly legal in the world as you can see here:

https://i.imgur.com/ivi8xlm.png

And the thing is that, similar to the Internet, even if you try to stop it, you can't really. It's like trying to stop people from drinking alcohol. It just won't happen.

why should i throw a party when i can use those amount to invest and buy more bitcoin ? i would rather keep my money intact inside crypto than being stupid spending with something not in need.
I may conduct a meeting and lure people about how bitcoin can help them but not to spend a single cent about having party lol.

First and foremost, Bitcoin is not illegal in most of the countries. Second, although crypto is not encourage for most of the countries as modes of payment due to it's high risk and volatility, it is also not officially banned by most of the countries.

Personally, it's nothing much to me even if the government declares crypto as a legal tender or recognized and be accepted as currency. It's because, if I were in the position to acquire and afford crypto as payment, I would rather keep it due to it's volatility. That aside, if it happens to be legalized, I would be happy to know that if ever something comes up that requires crypto, I would have another option to choose.

It is not stupid, if I throw party for the adoption of BTC in my country, It will make people around the environment or the country to know that our government has done something good in the land. No way you can conduct a meeting for people to learn BTC in your environment will not involve money, if truly you want people to have idea on it and also use it in away your government will be happy for the adoption of BTC.

You don't show your bank balance to anyone , so why you want to show your BTC.
making bitcoin legal tender means this would give bitcoin greater legitimacy as a medium of exchange and could lead to greater adoption of the cryptocurrency by merchants and new individuals. it would also mean that Bitcoin transactions would not be subject to capital gains taxes in the country, where it is recognised as legal tender.
i will feel great about this, if it will became legal tender in my country.
no i am not among them.
but there are also some risks and challenges associated with using a highly volatile cryptocurrency as a medium of exchange.

I am confused about the Lightning network as well because I never tried it. Sometimes I don't understand what I should say about this. Currently, The Lightning network has over 5490 BTC which is around $130 Million. This is not on the main chain. The maximum supply of Bitcoin is 21M. If you send your bitcoins to any address out of the main chain, it's lost. Is this how it works? I mean, it will be lost from the main net and will be added to the Lightning network? (seems I have to discuss this in another topic since it's going off-topic here).

If people start using the Lightning network, does the main net get benefit from the lightning network?

Maybe it will be good for the upper class people but not for the lower class, who don't understand the use of Bitcoin, if the government makes a decision to legalize Bitcoin as a means for economic growth, then what has to be done is to teach people who don't understand Bitcoin,  from how to use and prospects for the future so they know what they should do when the government really legalizes Bitcoin as the country's currency.

Some govs already legalized it. In the beginning almost any new technology are somewhat perceive as a scam, specially financial related ones, with time bitcoin and crypto in general will be seen as normal as credit cards,no more stigmas.

Nothing stupid mate, having a party is okay, maybe because it shows joy but it is a waste of money or bitcoins, unless you are rich or have a lot of bitcoins that is your right.
and the question is if your country legalizes bitcoin i think there is no need to do it and just for everyone to adopt it or know about bitcoin because by legalizing everyone will definitely use it and will do it themselves or maybe they will take courses or education about bitcoin or crypto i think everything will open.
and i think everyone already knows bitcoin or crypto and it scares them because it's still illegal and they become hesitant to do it and if it becomes legal it's a different story because everyone uses it and also stores accept it and so on like fiat.

actually it's better if you hold a meeting when bitcoin or crypto is still illegal, and it's up to you whether you want to have a party or not, and aim to introduce bitcoin or crypto to them especially the people closest to them and tell them that bitcoin is much better, safe, profitable, under self-control, and other uses and benefits of bitcoin.

The country I live in has recently made cryptocurrencies to fall under PMLA (Prevention of Money Laundering Act) which has certain regulatory policies in it.
Bitcoin is already legal in my country but not a legal tender. It's just legal to trade cryptocurrencies.
So if bitcoin is made legal in a way that it is allowed to be used as a payment method then it would be really great for the country.
I would be definitely happy but at the same time we know that we must have certain knowledge to use bitcoin.
So making the whole country qualified enough to use bitcoin would be the first thing to do.

It’s already legal in my country however we have to pay flat taxes of 30% on it and additionally a 1% TDS on every transaction that is done while trading. That’s crazy amount of tax one can pay all at once. Definitely it’s restrictive factor but it is allowing us to use the bitcoin. With the time the rules are getting stricter and it is but obvious why are they charging so much taxes in the first place. To make sure less and less peeps use the bitcoin over the period of time. Surprisingly, India is still using the bitcoin for trading at an alarming rate. There could be various methodology to get the fiat after trading bitcoin but yeah, peeps are crazy to use it even after such strict legality.

Bitcoin is legalized in your country, is it really happening or just bullshit? I know bitcoin is not easy to legalize in a country because many regulations have to be changed in that country, if bitcoin is legalized in your country and payment transactions are made with bitcoin then what about fiat in your country?

My country is at a point of electing new leaders, the people's choice is the only reason why I may see the possibility of Bitcoin being a legal tender, our past administrators where evil and didn't want the growth of the youth so the banned btc in my country.

Far from personal benefits, if Bitcoin is accepted, the economy would observe a positive turn around even though not everyone would embrace the change.

I would love it when Bitcoin becomes legal, but right now it's still impossible, because bitcoin only gets regulated as a commodity asset and can't go beyond that. Payments still use the main Fiat. But I'm also quite happy if it's only allowed as trading and digital assets, because it's still free to trade crypto etc. Rather than actually being banned or illegal it wouldn't be good. Most developing countries accept crypto as a commodity asset and some also have their own regulations. In addition, the government also regulates taxation, because every local crypto exchange will be taxed and users who trade on the exchange will be taxed on every transaction made.

It will be important if we understand that there is a big difference between bitcoin being legal and bitcoin being a legal tender.
There's so many countries the usage of Bitcoin is not illegal.
That is to say anybody can use bitcoin but in such countries bitcoin is not a legal tender. It is a scenario of Live and Let Live. Which is a true representative of Liberty. But according to your topic, it seems you're talking about making bitcoin a legal tender just as what happened El Salvador.

If that happens, it will be a great joy, but I did not clamour for that. I just want government to leave bitcoin alone. Let guys use bitcoin and people that doesn't like Bitcoin should dwell with fiat.

Well, I can start accepting crypto payments again in my business, which I had to stop because of some legal issue. I will be happy indeed, but to through a party to celebrate? No, I won't go that far. Also, I won't have to go through the process of converting Bitcoins to my local currency whenever I need money. So that will be a good thing to have. One more problem that people face here is that many from our country lives abroad, so they will be able to send money quickly through BTC transactions and will less fee.
Overall, it will be a great experience.

From my perspective it would not be a moment of general joy having the govern accepting BTC as a legal tender. As always, there are pros and cons.

Pros: BTC adoption will soar in that country. This is undeniable fact, since all citizen will be able to use BTC for day to day expenses. From this, entire Bitcoin community will benefit, as a whole.

Cons: I am afraid that such measure will also imply more individuals using centralized exchanges. Since BTC will be accepted everywhere, people will need to obtain it somehow. One of the potential ways (and which is also a very dangerous one) is through centralized exchanges. And since only very few are educated enough about Bitcoin and the dangers associated with centralized exchanges and KYC, I believe that many will use these exchanges. As a consequence, these people will go through KYC process, will pass their personal data to exchanges and will face all risks associated with this process:

- risk to have their money held at exchanges, as they were not in possession of their private keys
- risk to lose their money, as many exchanges were hacked
- risk to lose their personal information, as many exchanges were hacked and hackers used customers' personal information or even sold it on dark web (which led to even more risks for these people, as you may never know when a criminal shows up at your door and robs you, after buying all your personal information for 1$ from dark web)
- risk to lose their money, as many exchanges simply froze their accounts
- risk to lose their money, as many banks froze their accounts, after finding out that money came from crypto transactions
- risk to lose they money and also their freedom, in case they did not obey to the new laws issued by the govern.

It's really not a question of making it legal or not, but the regulations. Most countries in the world made it legal, there are only a few places that banned it, and I do not think that this discussion would benefit. However, if we are talking about the regulation differences between nations then we could actually arrive to a point.

For example, it is legal to buy and sell bitcoin in El Salvador and in UK at the same time, they both made it legal to buy and sell, basically trade. However, do you really think that it is actually the same thing? I feel like we are talking about something much bigger right now which is the fact that regulation differences make it go up or down.

Where it's legal tender, that is in En Salvador and Central African Republic, there is no capital gain tax when you sell Bitcoin.

Also, some countries offer exemptions, I think it's in Austria or Germany that after 1 year you don't pay capital gains tax, and in Australia you have 50% discount after a year as well. And there are other examples of this.

Well, I'll not feel much better if they do this because they will first make it centralized from all sides, then they will start charging highest taxes to this asset class and then you will either stop using it or pay them those hefty taxes to keep using it and be a part of crypto. Will you still feel 'great' if what you will pay will be more than what you earn from crypto?
Seeing the present situation, I can guarantee this that we are not earning enough to even satisfy our needs because the bear phase is not done yet and you know that bearish cycle runs longer and bullish phase is less likely to happen now after so many negative news coming in the market.

I will feel happy because i will have a secure way to earn bitcoin.

As a citizen of this country, I can't wait to feel free. I will be proud, proud to say that the government has legalized Bitcoin. It will be proof that we, the people have said enough is enough with dealing in the dark web, where there is no accountability. To allow their citizens to engage in their own money without fear of being arrested by the state for doing so is a step forward for all Americans

As a legal currency, the price of bitcoin would be regulated. In addition, it could help the government to gain revenue. Finally, with the bitcoin boom, there would be a massive increase of jobs in the BTC sector.

I think it's a good thing because Bitcoin is the future of money. When you talk to people and they are in need of something, they might be afraid to give their information or try to sell their goods. But with the help of bitcoin, the transactions will be so quick that no one can steal their money

will be proud and now may call all the friends who denies and did not pay attention as I lured them to invest in this market.

maybe by that time all of them will message me and approach me to teach them about this as legalization taking part and confidence will be on theirs.
hoping that this will come sooner because i wanted to circulate my crypto in paying bills.