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Author Topic: What would happen if Bitcoin became a legal currency?  (Read 33331 times)
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June 08, 2016, 09:41:44 AM
 #1

Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
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June 08, 2016, 09:43:29 AM
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so many people whose still in doubt will starting to adopt bitcoin as their secondary currency,bitcoin will be regulated,and there's a big chance to be taxed,the value of bitcoin will be increasing and reach supply<demand point which result the rocketing of a price

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June 08, 2016, 09:44:41 AM
 #3

Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?

This will be a big advantage for us are always consistent and committed to saving the bitcoin, because with bitcoin be legal then the higher price bitcoin because of the many requests and the least amount of bitcoin. But perhaps the more users the amount of fat in any transaction confirmation because the network of btc are having an overhead
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June 08, 2016, 10:10:50 AM
 #4

Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?

This will be a big advantage for us are always consistent and committed to saving the bitcoin, because with bitcoin be legal then the higher price bitcoin because of the many requests and the least amount of bitcoin. But perhaps the more users the amount of fat in any transaction confirmation because the network of btc are having an overhead

In accordance with the growing demand for transactions, how BTC could be improved to meet future challenges?
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June 08, 2016, 10:27:00 AM
 #5

Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
In this case the price will explode and everyone who owns a decent amount of btc will be rich,but i don't think this will happen very soon.
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June 08, 2016, 11:12:02 AM
 #6

Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?

It depends if Bitcoin will be accepted just in one country or worldwide.
It's hard to say because we still didn't have such experience but I guess it means that we will be able to use bitcoin as secondary, official currency, for buying/selling things, many merchants will accept Bitcoin, we will have many more Bitcoin aTM's, bitcoin debit cards etc.
I'm sure that banks will also offer bitcoin or find the way to even offer loans in Bitcoin.



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June 08, 2016, 11:18:07 AM
 #7

It will be great if bitcoin accepted become legal currency, it will be easier for us to use and spend bitcoin, all transaction will become easier
So if bitcoin become legal it will bring a lot of great impact especially from economy side


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June 08, 2016, 11:58:28 AM
 #8

Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?

You mean Legal currency, that world wide accept the Bitcoin?
If you have that mean, so you know that some countries are accept it and their government also accept it, may be in future most of the other countries will be accept it, which i know and where i m living in my country are not accept the bitcoin for a legal currency. But may be it will be happened in future, because all over the world who knows about the bitcoin and using it they all are saying that bitcoin is a secondly official currency.   
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June 08, 2016, 12:27:51 PM
 #9

Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?

In my opinion, being a legal currency and being accepted in all stores are different things. I think its more interesting for bitcoin users having more stores to spend your bitcoins on them,  than being a legal currency.
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June 08, 2016, 12:45:47 PM
 #10

I think if bitcoin will be legal currency many changes will be happen. and more adoption will come.. if it will legal we also involve in government with taxes.. so instead we are paying for a miners fee only we are also paying for taxes..
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June 08, 2016, 12:59:05 PM
 #11

I don't think a lot would change really, it would just be another form of payment/money albeit a more efficient one. But one thing's for sure, it would have to be stable to be used as a currency so you definitely wouldn't be seeing those wild fluctuations anymore.
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June 08, 2016, 01:52:35 PM
 #12

if i am not mistaken the correct phrase is regulated. because bitcoin is a legal currency but there are no rules set for businesses to use them. so i assume that if that day comes there will a big growth for bitcoin in adoption and as a result in price.

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June 08, 2016, 01:58:00 PM
 #13

Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?

What do you mean by "legal currency," OP? Bitcoin is legal in most countries. Accepting it as a form of payment is up to individual businesses.
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June 08, 2016, 02:07:46 PM
 #14

i dont think there would be any change the only thing is that some countrys may put some fees on it futrther i dont think there would happen allot with the coin for sure.
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June 08, 2016, 02:12:40 PM
 #15

That would be good news to people who already invested a lot (and earns a lot) in the Bitcoin industry.
But if I were one, I would not wish for that to happen.

The best thing about Bitcoin (and the reason I tried it) is because that it is not being controlled by anyone.
I would not like our government or some powerful people to take control of it.
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June 08, 2016, 02:22:27 PM
 #16

Many fast food restaurant will accept bitcoin which may easier for doing transaction.
There will be more bitcoin ATM wondering around the world , people will start invest bitcoin with massive transaction

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June 08, 2016, 02:24:17 PM
 #17

Bitcoin is legal in most countries , regardless of their gov rules.
Bitcoin should become currency , and the disadvantage is "anonymous" can't be used again.
The best thing with bitcoin is anonymous (you don't need any verification ID)

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pariahbit
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June 08, 2016, 02:48:10 PM
 #18

Bitcoin is legal in most countries , regardless of their gov rules.

That's 'coz you don't understand what "legal" means.
avikz
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June 08, 2016, 02:57:01 PM
 #19

Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?

Frankly  speaking, I don't want bitcoin to become a legal currency like any other fiat and accepted in most of the stores. Because the nature of bitcoin is decentralized and it is not meant to buy daily groceries.

Also remember, that bitcoin supply is limited so you can't print bitcoin as you want. Take bitcoin as an alternate investment route save it. DOn't buy silly thing with it.

groll
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June 08, 2016, 03:05:48 PM
 #20

so many people whose still in doubt will starting to adopt bitcoin as their secondary currency,bitcoin will be regulated,and there's a big chance to be taxed,the value of bitcoin will be increasing and reach supply<demand point which result the rocketing of a price
Yeah your conclusion is right. Many politician will gain more. Because it has a chance that bitcoin has a tax if you put it as a secondary currency.
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