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jhenfelipe
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June 09, 2016, 08:17:36 AM |
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What I'm thinking is that, when bitcoin become legal worldwide, of course, most people will tend to use it and in addition more merchants will adopt it. It will be really part of both online and offline world, another option aside from VISA, MasterCard, AMEX, etc. But for some reason, the government will make part of it, for sure it will be more strict in making any bitcoin transaction for security purposes and may be fees will be higher because it will be taxable. No matter what happens there will always be both advantages and disadvantages.
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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ranochigo
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Activity: 2968
Merit: 4184
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June 09, 2016, 08:21:11 AM |
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Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
If Bitcoin becomes a currency that is approved by the governments worldwide, the adoption rate would surely skyrocket. Bitcoin would likely replace other online payment methods at the very list. However, it is extremely hard for Bitcoin to be endorsed by governments worldwide. Reason being the government will have no control over it and would open the doors for terrorist financing and money laundering. Government thus would have to implement extremely strict policies to govern this. Bitcoin would be taxed if it does become a legal currency. |
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DuckKeeper
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June 09, 2016, 08:38:07 AM |
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Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
I think that not much would happen it would be a bit more open tho but most people would keep doing the same thing that they were always doing with Bitcoin. |
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PantminerS7
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June 09, 2016, 08:49:34 AM |
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If it happened in the right way, it would be great. No more needing to convert currency when traveling, easy sending money abroad to family, and more. The best thing with it being accepted as legal tender would be being able to spend Bitcoin anywhere in the world. Imagine the possibilities.
If not, then government will usurp BTC and control it or monitor it extensively. Knowing government, I think they'll find using smartphones and digital currency to track everyone around the clock more appealing. It seems to be the path most governments are headed already, the US and Venezuela come to mind.
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pariahbit
Newbie
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Activity: 42
Merit: 0
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June 09, 2016, 11:35:20 AM |
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I think there's not much difference if bitcoin become legal or not. no one are stopping people from using it. the only good thing is it will be accepted in stores as payment.
Yes nothing will happen but payment method in all stores and other shopping sites will become very easy. So people are waiting for this when all country govt will accept Bitcoin as legal currency. Bitcoin is legal in most countries. The reason stores don't take it is because it's a hassle, so they don't want to. |
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talkbitcoin
Legendary
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Activity: 1372
Merit: 1032
All I know is that I know nothing.
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June 09, 2016, 11:40:57 AM |
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Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
bitcoin is not an illegal currency that needs to be legalized but if there is clear rules being set for using bitcoin then i am sure that bitcoin will become much more popular and will eventually be used by all the people in the world and also the price will go to the moon. |
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sobsitesearch
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June 09, 2016, 01:06:26 PM |
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I think if bitcoin will be like a coin that can we use it to buy in store more bitcoin lover celebrates for that and also the demand of bitcoin will increase
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BitcoinHodler
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June 09, 2016, 01:20:19 PM |
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in case something like that happens it would mean government accepting bitcoin as a real currency and then they will take taxes from bitcoin usage.
but also it means that businesses and easily and with the ease of mind accept bitcoin then,.
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Holding Bitcoin More Every Day
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wintermeasures
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June 09, 2016, 02:09:28 PM |
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Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
I think bitcoin will become better known and more popular than it is today, and more if bitcoin accepted by all circles of society it will be able to make bitcoin currency world number one with speed and simplicity. Thank you |
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Jemzx00
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June 09, 2016, 02:18:47 PM |
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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?
Uhm.. I think that bitcoin is a legal currency but not a popular currency. And if bitcoin goes popular, i think bitcoin's will go down fast with a lot of people using it the number of quantity of bitcoin will go up due to a lot of people mining this. |
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poplolnman
Legendary
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Activity: 1442
Merit: 1008
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June 09, 2016, 02:30:58 PM |
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in case something like that happens it would mean government accepting bitcoin as a real currency and then they will take taxes from bitcoin usage.
but also it means that businesses and easily and with the ease of mind accept bitcoin then,.
yeah exactly this, people under government would taken taxes. could we ruled out of this? government would definitely insist to take it no matter how and it's what would happen i agree. |
I'm in 400,000 euros debt , dont help me , i rather die
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Jasad
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Merit: 1001
= jasad =
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June 09, 2016, 02:33:12 PM |
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Everyone would like the bitcoin is accepted in all online and real stores and, as as mentioned in the title, what would happen if Bitcoin became a legal currency?
i guess,people will glad to use bitcoin as new payment and investment,nothing currency like bitcoin,its why peopleeed adaption touse bitcoin. i can't imagine if i buy food with bitcoin in small city,but its look very very cool,i come into digital year. fantastic |
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unamis76
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Activity: 1512
Merit: 1009
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June 09, 2016, 02:43:36 PM |
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Bitcoin becoming legal and officially recognized would probably bring no good to Bitcoin. We'd most likely have to sacrifice something in order for it to be within the laws of currency. The government would have to somehow interfere with it (with the emission of currency, address blacklisting, liking addresses to one's identity...), they would require the same level of control they have with fiat, or even more, and that's simply not Bitcoin.
If it's not illegal, that's good enough for me. We will neve be able to deliver a currency that satisfies governments fully, so might as well stay in the grey area. The currency and the principles will speak for themselves and people will realize the advantages towards fiat.
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Hazir
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Activity: 1596
Merit: 1005
★Nitrogensports.eu★
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June 09, 2016, 03:16:56 PM |
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Bitcoin is legal in most countries, in some others countries government is so hypocritical that they want to instead create their own coin (i.e. AuroraCoin in Iceland).
What Op wanted to say is "when bitcoin will become regulated currency" - and it is hard to say, as we don't have similar statements about legal status of BTC.
Each country has their own version of bitcoin legislation prepared and we don't have 1 definition and definite answer to the question - "what is bitcoin and how to regulate it".
Because of that it is hard to say how future of BTC will look like.
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TastyChillySauce00
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Merit: 1028
Leading Crypto Sports Betting & Casino Platform
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June 09, 2016, 03:28:15 PM |
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Bitcoin is legal in most countries, in some others countries government is so hypocritical that they want to instead create their own coin (i.e. AuroraCoin in Iceland).
What Op wanted to say is "when bitcoin will become regulated currency" - and it is hard to say, as we don't have similar statements about legal status of BTC.
Each country has their own version of bitcoin legislation prepared and we don't have 1 definition and definite answer to the question - "what is bitcoin and how to regulate it".
Because of that it is hard to say how future of BTC will look like.
due to this link as my reference: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_countrybitcoin in the most of the countries still not regulated yet,nor legalised,the status of bitcoin still between illegal and legal,it's allowed to be used,but not recommended,no laws related to bitcoin transaction so no protection for whoever using it |
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socks435
Legendary
Offline
Activity: 2016
Merit: 1030
Privacy is always important
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June 09, 2016, 03:57:58 PM |
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Bitcoin is legal in most countries, in some others countries government is so hypocritical that they want to instead create their own coin (i.e. AuroraCoin in Iceland).
What Op wanted to say is "when bitcoin will become regulated currency" - and it is hard to say, as we don't have similar statements about legal status of BTC.
Each country has their own version of bitcoin legislation prepared and we don't have 1 definition and definite answer to the question - "what is bitcoin and how to regulate it".
Because of that it is hard to say how future of BTC will look like.
due to this link as my reference: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_countrybitcoin in the most of the countries still not regulated yet,nor legalised,the status of bitcoin still between illegal and legal,it's allowed to be used,but not recommended,no laws related to bitcoin transaction so no protection for whoever using it Yeah bitcoin made only for people that they don't to control by government taxes or any in legal if this bitcoin will be legal taxes one of the problem if it will happen.. and i think devs of bitcoin will not accept to be legal this bitcoin.. because they don't want to be controlled by government.. |
Solving blocks can't be solved without my rigs.
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romero121
Legendary
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Activity: 3164
Merit: 1213
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June 09, 2016, 04:08:15 PM |
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The possibilities were very low but if it happens adoption takes place enormously. Also we can't experience big variation in price as its happening now. The price can be found more stable than now.
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Red-Apple
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June 09, 2016, 04:56:17 PM |
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The possibilities were very low but if it happens adoption takes place enormously. Also we can't experience big variation in price as its happening now. The price can be found more stable than now.
actually it is quite the opposite. the possibilities are very high. it has already begun, in many countries there is some groundbreaking work being done for bitcoin and regulation of it. the latest news that i have heard was about Japan and announcing bitcoin as a legit currency. |
--signature space for rent; sent PM--
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OrangeII
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June 09, 2016, 05:17:52 PM |
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maybe people will race to find and buy bitcoin, and it probably will make bitcoin prices to rise. well of course they'll buy it, because bitcoin business promises for the future
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erikalui
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Activity: 2632
Merit: 1094
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June 09, 2016, 05:19:23 PM |
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Bitcoins would require verification before we open a wallet and the price would be as stable as USD, EUR with few cents up and down daily. We could use it to trade in forex which is a positive and then we would also be able to secure our bitcoins incase of a hack, scam or fraud.
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