Vaskiy
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November 21, 2016, 01:22:04 PM |
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Many countries have planned to make their own digital currency. So those currencies were legalized than our bitcoin. In my view bitcoin if legalized won't get much attention from users, because most of the users here were into bitcoin just because of its decentralized system.
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Kotone
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November 21, 2016, 01:26:23 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?
If bitcoin will become a legal currency then all people who are using bitcoin daily will be more happy than i why? Because we don't need to convert our bitcoin into fiat money anytime to use it to buy some foods or goods and we can just simply pay our coffe too and shoping and using it in super markets. |
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deisik
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November 21, 2016, 09:18:15 PM |
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Many countries have planned to make their own digital currency. So those currencies were legalized than our bitcoin. In my view bitcoin if legalized won't get much attention from users, because most of the users here were into bitcoin just because of its decentralized system.
The total majority of countries already have a digital version of their own fiat money. So there is hardly any sense and need in creating another one that would compete with the first. In fact, many online services already "issue" some money tokens which are convertible to the official currency while they are basically the same fiat currency under another name for processing payments. Governments typically try their best to prevent people from using a foreign currency if they can't successfully manage their own, up to outright banning the possession of that foreign currency...  Just like BMW's hardware runs better without windows, money works better without other money in the way |
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ikydesu
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November 22, 2016, 12:43:23 AM |
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I think it will be a legal currency worldwide.
It will attract people to try use bitcoin, some merchant will adopt bitcoin, it will be mass. and I think the price movement have more more stable.
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diegz
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November 22, 2016, 01:57:26 AM |
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I think it will be a legal currency worldwide.
It will attract people to try use bitcoin, some merchant will adopt bitcoin, it will be mass. and I think the price movement have more more stable.
The first thing that will happen if bitcoin become a legal currency is it will be used by many, there will be a mass adoption, depending on how it was being described by media and those that has it, a positive publicity will make it prosper, I hope that it is the first thing that happen, but if those news is being toppled by a negative one, bitcoin will not die, but for sure, it will be stagnant. |
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freedomgo
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November 22, 2016, 06:06:24 AM |
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I think it will be a legal currency worldwide.
It will attract people to try use bitcoin, some merchant will adopt bitcoin, it will be mass. and I think the price movement have more more stable.
If it will be legalize in the future, we will know if the price will be stable. Too early to tell. I think it will be a legal currency worldwide.
It will attract people to try use bitcoin, some merchant will adopt bitcoin, it will be mass. and I think the price movement have more more stable.
The first thing that will happen if bitcoin become a legal currency is it will be used by many, there will be a mass adoption, depending on how it was being described by media and those that has it, a positive publicity will make it prosper, I hope that it is the first thing that happen, but if those news is being toppled by a negative one, bitcoin will not die, but for sure, it will be stagnant. It has to be legalized first before we can attract more users. It's the sequence. |
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pooya87
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November 22, 2016, 06:26:38 AM |
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I think it will be a legal currency worldwide.
It will attract people to try use bitcoin, some merchant will adopt bitcoin, it will be mass. and I think the price movement have more more stable.
The first thing that will happen if bitcoin become a legal currency is it will be used by many, there will be a mass adoption, depending on how it was being described by media and those that has it, a positive publicity will make it prosper, I hope that it is the first thing that happen, but if those news is being toppled by a negative one, bitcoin will not die, but for sure, it will be stagnant. this will never happen overnight. not the legalization nor the mass adoption, there will be a slow uprise. and besides there are countries like Japan that have already been talking about making bitcoin a legal real currency and i think they finally did it in Japan (not sure though) and the adoption didn't change drastically although it helped. |
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groll
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November 22, 2016, 07:02:43 AM |
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I think it will be a legal currency worldwide.
It will attract people to try use bitcoin, some merchant will adopt bitcoin, it will be mass. and I think the price movement have more more stable.
The first thing that will happen if bitcoin become a legal currency is it will be used by many, there will be a mass adoption, depending on how it was being described by media and those that has it, a positive publicity will make it prosper, I hope that it is the first thing that happen, but if those news is being toppled by a negative one, bitcoin will not die, but for sure, it will be stagnant. If bitcoin will be legalized as a currency, it would easily be adopted by many people around the globe. And for sure because of the benefits people gained from using it, it could have a positive publicity and many would be encouraged to use bitcoin for good. I think media will give positive news about bitcoin since many of it's users has gained good profit from it and many has make bitcoin their business. |
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Umotand
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November 22, 2016, 08:11:46 AM |
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I think it will be a legal currency worldwide.
It will attract people to try use bitcoin, some merchant will adopt bitcoin, it will be mass. and I think the price movement have more more stable.
The first thing that will happen if bitcoin become a legal currency is it will be used by many, there will be a mass adoption, depending on how it was being described by media and those that has it, a positive publicity will make it prosper, I hope that it is the first thing that happen, but if those news is being toppled by a negative one, bitcoin will not die, but for sure, it will be stagnant. If bitcoin will be legalized as a currency, it would easily be adopted by many people around the globe. And for sure because of the benefits people gained from using it, it could have a positive publicity and many would be encouraged to use bitcoin for good. I think media will give positive news about bitcoin since many of it's users has gained good profit from it and many has make bitcoin their business. That is right. If the bitcoin is adopted in one country, many country will follow suit. the price will go higher. |
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saiha
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November 22, 2016, 08:47:02 AM |
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I think it will be a legal currency worldwide.
It will attract people to try use bitcoin, some merchant will adopt bitcoin, it will be mass. and I think the price movement have more more stable.
The first thing that will happen if bitcoin become a legal currency is it will be used by many, there will be a mass adoption, depending on how it was being described by media and those that has it, a positive publicity will make it prosper, I hope that it is the first thing that happen, but if those news is being toppled by a negative one, bitcoin will not die, but for sure, it will be stagnant. If bitcoin will be legalized as a currency, it would easily be adopted by many people around the globe. And for sure because of the benefits people gained from using it, it could have a positive publicity and many would be encouraged to use bitcoin for good. I think media will give positive news about bitcoin since many of it's users has gained good profit from it and many has make bitcoin their business. That is right. If the bitcoin is adopted in one country, many country will follow suit. the price will go higher. Not just by one country but it must be adopted by a big country or any from the first world countries. And for sure countries from second world and world. Will just follow the movement of those big countries because they know that their economy is good enough. And upon legalization of bitcoin, that is going to be an easy thing also for poor countries if they sees it from other countries. |
Vires in Numeris
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serjent05
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November 22, 2016, 09:14:08 AM |
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With the benefits comes the resposibility. If bitcoin became a legal currency, we can observe several regulations to be imposed to bitcoin. It is observed that government will do the best of its power to get its cut from all the transaction of bitcoin while making sure they will keep check on the transaction of every citizen with bitcoins.
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severaldetails
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November 22, 2016, 09:21:52 AM |
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With the benefits comes the resposibility. If bitcoin became a legal currency, we can observe several regulations to be imposed to bitcoin. It is observed that government will do the best of its power to get its cut from all the transaction of bitcoin while making sure they will keep check on the transaction of every citizen with bitcoins.
I'm rerally hoping governments will not try that. Putting taxes or whatever on transactions is something nobody will pay. All they would do is create some kind of a black market and drive companies working with bitcoin out of the country. I hope that at least a few of the bureaucrat have some foresight. |
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serjent05
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November 22, 2016, 09:31:23 AM |
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With the benefits comes the resposibility. If bitcoin became a legal currency, we can observe several regulations to be imposed to bitcoin. It is observed that government will do the best of its power to get its cut from all the transaction of bitcoin while making sure they will keep check on the transaction of every citizen with bitcoins.
I'm rerally hoping governments will not try that. Putting taxes or whatever on transactions is something nobody will pay. All they would do is create some kind of a black market and drive companies working with bitcoin out of the country. I hope that at least a few of the bureaucrat have some foresight. I think this may happen (some people doing illegal trades under the government nose), but of course there are lots of honest merchant that all they wanted to do is to have business in peace. With government regulations, assurance on using bitcoin will be imposed, making trust level to use bitcoin go up. There will never be a mass adoption if the government does not support or impose regulation with bitcoin. That is my opinion. |
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deisik
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November 22, 2016, 09:52:11 AM |
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With the benefits comes the resposibility. If bitcoin became a legal currency, we can observe several regulations to be imposed to bitcoin. It is observed that government will do the best of its power to get its cut from all the transaction of bitcoin while making sure they will keep check on the transaction of every citizen with bitcoins.
I'm rerally hoping governments will not try that. Putting taxes or whatever on transactions is something nobody will pay. All they would do is create some kind of a black market and drive companies working with bitcoin out of the country. I hope that at least a few of the bureaucrat have some foresight. It doesn't make any sense to tax individual transactions since that would in effect mean they should trace every transaction hitting the blockchain, which would be next to impossible. Instead, they could just tax miners and that would be a superior way of taxing Bitcoin by any means. If the government succeeds, that would basically mean every Bitcoin will be taxed. And I think doing that would be quite feasible since mining is heavily centralized right now... And huge mining farms can be as easily taxed directly |
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kryptqnick
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November 22, 2016, 10:32:21 AM |
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Well, in some countries it is already legal, you know. Switzerland, for example. But if bitcoin was to become legal-legal, than it would lose anonymity, get some new taxes and licence needed to use it. And something will have nto be done with transactions. I don't think they take much time but if we imagine a shop and a queue there, than waiting additional minute or two is sort of long.
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betohell
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November 22, 2016, 10:49:46 AM |
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It will be awesome, if bitcoin become legal currency for sure it will makes our transaction easier and there will be a lot things that can be buy using bitcoin, i think by making it into legal currency it will make bitcoin become more valuable, and as the user we will feel easier to spend bitcoin on something we want
of course when bitcoin be legal in all countries of course we will find it easy to shop using bitcoin and of course we will not need to convert it to a fiat again, this is a very good thing I really want that to happen, who knows when it will happen |
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deisik
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November 22, 2016, 11:04:00 AM |
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Well, in some countries it is already legal, you know. Switzerland, for example. But if bitcoin was to become legal-legal, than it would lose anonymity, get some new taxes and licence needed to use it. And something will have nto be done with transactions. I don't think they take much time but if we imagine a shop and a queue there, than waiting additional minute or two is sort of long.
I don't really think it will lose its anonymity (or pseudoanonymity because Bitcoin is not quite anonymous) since it is a feature hard coded in it. If you want to use Bitcoin and still remain anonymous up to the level Bitcoin itself allows, you could continue using pure Bitcoin (let's call it plain vanilla Bitcoin) with a default desktop wallet. Other than that, I don't really think that a lot of people actually strive for that level of anonymity. Many folks will start using Bitcoin if it gets accepted by the banks and offered by them as part of their product line... That could as well lead to a wider adoption of Bitcoin by general public, as a nice bonus |
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arseaboy
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November 22, 2016, 12:10:01 PM |
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It will be awesome, if bitcoin become legal currency for sure it will makes our transaction easier and there will be a lot things that can be buy using bitcoin, i think by making it into legal currency it will make bitcoin become more valuable, and as the user we will feel easier to spend bitcoin on something we want
of course when bitcoin be legal in all countries of course we will find it easy to shop using bitcoin and of course we will not need to convert it to a fiat again, this is a very good thing I really want that to happen, who knows when it will happen Yeah this is something that we have to lookup in the future and it would be beneficial for us.. but I think this would take time / years to make this happen.. each countries need approval to make bitcoin become a legal currency and these countries should have an access to internet even most dense part region of their country. |
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Qartersa
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November 22, 2016, 12:31:41 PM |
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I would say that life will get a lot easier, because I don't have to bring a wallet (a physical one, that is). I only would need my phone and an internet connection to pay for anything I need. Also, I can send money to anyone who I know because this time they all have bitcoin addresses too. This would really be glorious!
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michkima
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November 22, 2016, 01:36:39 PM |
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If this happens, I would still be poor tho. I didn't stack too many bitcoins yet. Give me more time please before this happens. But if it did, I would be using bitcoin as my primary medium of paying for anything. But this would probably happen way into the future. Also, I don't think it would be Bitcoin at that time because I feel that the government will create its cryptocurrency to replace fiat currency.
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