What would happen if Bitcoin became a legal currency?

[upsidedown75]

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.

Yeah it is sure that at that time the supply of bitcoin will be decreased because of high demand of more buyers, and that will be a better chance for bitcoin holders to get big profit from their coins as in this situation the price definitely increases to a peak.

[Btcvilla]

It will become really popular, meaning breaking the network because of the block size limit.

[salmanahmedone]

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.

Yeah it is sure that at that time the supply of bitcoin will be decreased because of high demand of more buyers, and that will be a better chance for bitcoin holders to get big profit from their coins as in this situation the price definitely increases to a peak.

If bitcoin becomes a legal currency its worth and price will increase a lot. I still feel it will be difficult for this to happen as Government want to have control over the local currency and if bitcoins replaces as a legal currency , the government authorities will have no control over it, there will be no rules and regularity authority for the bitcoins and hence no government wants to permote bitcoins.

[ausbit]

Then the price will rise to a highest value and at some stage it will sooner come to stability and everyone will then know about it through their government and national media etc, and it will take no time to become a legal currency.

Yes once the govt. see that the price are stable they will gladly accept it. I think though to get a still price for bitcoins we have to wait for years as its yet not stable or still.

[nicojaewpunk]

Price will go up so high and make me rich 

[fllipperr]

then its more okay on our part cause we can buy a lot of things with these aster all this what we need on real life.. the money.

[JanpriX]

Well, if BTC became a legal currency, it will produce positive results. The demand for it will increase incrementally and the price will go up much higher. Though many positive outcome can be produced, we should also expect that there will be opposite effects when this happens. I don't exactly know what it is but we just need to be prepared about it.

[MHopkins]

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 already is, here in Europe. Bricks & Mortar shops, ATM's etc. 

[kidayb@sina.com]

It's a sure thing to happen.
But have to go through a long process
At present, the biggest problem is that the efficiency of transfer

[rickadone]

then its more okay on our part cause we can buy a lot of things with these aster all this what we need on real life.. the money.

But can't we buy a lot of things with cash? I mean, if that's the reason you're going to be having, then cash would've been better to use than bitcoins because not everyone is using bitcoins just yet. And that's where legalizing bitcoins come into action. The fact that not everyone is using bitcoins, if it is indeed legalized, more and more people will start using bitcoins.

[Snorek]

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 already is, here in Europe. Bricks & Mortar shops, ATM's etc. 

It is not exactly what Op had in mind. Legal payment method = equal and accepted as standard 'money' in every possible situation.

Bunch of exclusive shops or 1 or 2 BTM in the your capital city is not gonna make bitcoin legal currency. For now we are lucky that bitcoin is not being ostracized.

[Supercrypt]

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?

That day would be a worth a heaven. I think though this is not possible reason being its decentralized and the government of any country would not want to make it legal as they have no interest in this and without personal benefits they hardly move.

[klf]

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?

That day would be a worth a heaven. I think though this is not possible reason being its decentralized and the government of any country would not want to make it legal as they have no interest in this and without personal benefits they hardly move.

Yes if Government make bitcoin as legal currency they who will pay tax so no income to government that is why they are not allowing this currency as legal. If it happen means yes those who will do online business for them it will very helfull and women can easily addict this Bitcoin i think because they can use it for online shopping right so but let's see when it will happen.

[CasioK]

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.

True and actually if it becomes legal then it would be more problem because then all the sites will ask us long and bad verification and the anonymity which is the best thing about bitcoins would be lost. Let it run as it is

[Betwrong]

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?

Is it illegal? Well maybe in some countries it is, but most of the world is using it legally I guess. So I think if it will become "more legal" than it is now nothing will change much.

[BTCLovingDude]

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?

Is it illegal? Well maybe in some countries it is, but most of the world is using it legally I guess. So I think if it will become "more legal" than it is now nothing will change much.

in almost every country using bitcoin is legal without any problem and there is only a couple of countries that have the problem with bitcoin..

and in some of the countries there are rules and regulations for using bitcoin in businesses.

[darewaller]

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 got accepted online and it become an a legal currency,I think the supply of btc will decrease, because many people is buying it right? And also the demand will increase. But i think the people will just make this one as their secondary mode of payment.

There is a disadvantage also, which is that once its legal we cannot gamble with bitcoins ? I think I use bitcoins mostly for fun gambling and if made legal I can not play with bitcoins anymore freely

[Endikadija]

People will start to use it in everyday life.it woudnt be needed to carry a wallet anymore. A lot of people will be more interested and trust in it because nowdays a lot of people believe it is a big 'scam'

[ontrackk]

i think then most of the people would use it on every day occasions and the price of the bitcoin would grow more

[beerlover]

The world would be a better place. Crime will go down, wars will end, people will get out of debt, and the world will continue to spin.

Haha not the crime will go down, but surely the technologies will get high. I think many places where we still worry would be made easy, for example we can pay someone with bitcoins and order pizza and dont have to worry as we have the transaction ID