What would happen if Bitcoin became a legal currency?

[makolz26]

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 legal in many country. If it is legal in its own present term and conditions then the price of a country own currency will be fall. Their will be a possibility of economic crisis in those countries. The tax collection will be decrease . And this thing seriously affect an country economy growth. And i think their will be a possibility of increase in crime rate. And this is because the uninterrupted and untraceable money transaction facility given by Bitcoin. And if Bitcoin is legal according to government term and conditions then the price of Bitcoin will be stable. And it will be a simple currency like others. 

For sure now it is impossible for that to happen, but we cannot say that in the future, if in the future the law allows it then they know what is good for the country, then it would be alright for all of us at least something big change happens in the world. But for now, it will take a lot of studies before it will implement.

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[Mr.John19]

I think if bitcoin legal in this world it will be great currency of all transaction and the investors getting more bitcoin because of the financial and benefits for the everyday so it is very exciting if can happen.

That right! Additional, That is better be conceivable if the nations one by one acknowledges it and legitimize it. It also can influence the value bitcoin it goes pump because a lot of individuals need to get involved on the bitcoin. If there are allot people adopt it, I am confident that store and others company need to acknowledge the bitcoin. We can go anywhere we want. We can purchase stuff on others district by utilizing the bitcoin. We don’t need a remittance center to convert the bitcoin into fiat.

[Harper6]

The demand for bitcoin would soar I believe if bitcoin became a legal currency which means more people would want to get in and get their hands on bitcoin and this will make the price go up.

Sure as much as people are listing about bitcoin are trying to get bitcoin for the sake of the future so the price of bitcoin is going to be very high, For me the bitcoin is already the legal currency in a lot of counties which means bitcoin is going to be the legal globally. Already Japan and the South Korea and now Philippines are announcing bitcoin as legal currency so I am really hopeful about bitcoin future that it will be legal in my place as well.

[Bobocantik]

I think, if bitcoin was accepted by the government we could now use bitcoin as a payment for every stores and almost everyone will use bitcoin as a source of income. I also think if bitcoin become a legal currency, i think we will pay taxes to the government which is unfair and i really wish that couldn't happen.

[sheryl26]

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 the bitcoins will become a legal currency then a lot.of people will have a chance to use them again because there are pretty much legal for a lot.of xountey especially Japan and they also want to be a bitcoins capital of the world and thebbitcoins price can rise  back up again into the market if all the country the bitcoins will be legalize. Expect that the bitcoins will.go to the moon again

[Legwist]

The total majority of countries already have a digital version of their own fiat money. The government will not like a currency that is not controllable by them since it has a negative impact on society.

[Docafid888]

Ofcourse it will be a big advantage for all the investor now, bitcoin is limited and im sure the price will go bullish and sky rocketing, and it will affect another alternative coin, especially etherium.

[jakoylantern]

For me, if bitcoin become legal currency, it will give bitcoin users an excellent feeling that all this year's bitcoin become legal and accepted. If bitcoin became legal, I’m sure its value will rapidly increase because the acceptance of it skyrocket. Also, I’m sure that all store’s establishments or company will now accept bitcoin as payment. We all know that there are so many possibilities will happen if bitcoin become a legal currency and I’m looking forward and hoping it will happen even there are some country already ban bitcoin for some reasons. 

[jatin729]

First of all we have to regulate the bitcoin before considering it as a legal currency, because no govt. want any decentralize currency as a legal tender.
even japan has regulated it. But if it is legal all over the world then  price of the bitcoin is getting too high because demand will be more and supply will be less. and one thing more govt. can able to control inflation rate by using crypto as a legal tender.

[Olawale16]

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

[Akupuniard]

Bitcoin is legal currency almost eveywhere, everything we need is make pruchases with bitcoin but it's impossible to make because bitcoin isn't accepted by everybody.

[waqasniaz007]

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 become legal on world 6 to 10 percent population than its value will be 10 to 20 times more from current price.  Till now we have seen much popularity of bitcoin in Japan where it is legal.

[Apaxy]

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 become legal on world 6 to 10 percent population than its value will be 10 to 20 times more from current price.  Till now we have seen much popularity of bitcoin in Japan where it is legal.

The point is that the legalization of Bitcoin in Japan can greatly affect the status of the crypto currency in the world. Each country can think about it, If it wants to conduct international relations and trade with Japan and similar countries.

[imking]

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 am very happy because of I already a lot of coins on my wallets. I’m just kidding. If the bitcoin became a legal currency, I think we need another blockchain because the community is getting more and more and to maintain the fast and reliable transaction. We all so need to are global regulation came from the government to avoid the criminal’s activities using the bitcoin.

[Saiful Islam777]

It will be news of happy happiness. If Bitcoins become legal currency, then everyone will start using it. Bitcoin prices will be more concentrated. Arrangements for many will be arranged. It will hold huge size and everyone will be able to use it.

[faranisa]

If that happens then chances are that bitcoin will be the world's currency like the dollar and can replace the dollar position because bitcoin will be much more practical to use than the dollar.

[maaydin]

we won`t see so much difference in our daily life I guess because now we are making the transfers with paypal and similar stuff and cards than we will use the same cards with a different name.

[FsJsxy]

This should positively affect its price, perhaps bitcoin would become even a reserve currency on an equal footing with the euro and the dollar.

[fearcoka]

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 become legal on world 6 to 10 percent population than its value will be 10 to 20 times more from current price.  Till now we have seen much popularity of bitcoin in Japan where it is legal.

The point is that the legalization of Bitcoin in Japan can greatly affect the status of the crypto currency in the world. Each country can think about it, If it wants to conduct international relations and trade with Japan and similar countries.

The reality is that there is not much change after the Japanese government legalized cryptocurrency. You should remember that the US and UK governments have taxed cryptocurrency as a form of financial investment. In addition, the Chinese government has banned cryptocurrency after too tired to find ways to overcome speculation in this country. Bitcoin's value has increased over the past year, but it's not in the Japanese market, because of the crazy speculation from the Korean market, you should remember that Korea is still the country with the highest trading volume in the world until now.

[multimix]

If bitcoin became a legal currency, many people will notice bitcoin and start using bitcoins. It will give a good impact into bitcoin for sure and the price of bitcoin can increase.