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Author Topic: What would happen if Bitcoin became a legal currency?  (Read 33331 times)
FsJsxy
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April 14, 2018, 11:21:12 AM
 #941

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

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April 14, 2018, 04:20:16 PM
 #942

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.
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April 15, 2018, 06:04:12 PM
 #943

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.
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April 15, 2018, 06:16:13 PM
 #944

Surely the world would be welcomed, when many transactions with real money (using rate from strong currency as USD, EUR, JPY and etc) certainly gives rise to the strengthening that currency so the value of the local currency steadily rectified.
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April 15, 2018, 08:00:52 PM
 #945

This would become a big problem for the government, primarily in the legal sense. Monopoly of the right to issue money is one of the main privileges of the state. If you equate bitcoin to the official currency, it turns out that anyone can issue money. This is one of the reasons why the legal status of the biton is still unknown.
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April 15, 2018, 08:10:28 PM
 #946

Think when bitcoin becomes lawful, it will be very good because many people accept bitcoin, including online fraud. It will be one of the best currencies around
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