What would happen if Bitcoin became a legal currency?

[Text]

If bitcoin became a legal currency, I think the price would be fixed; the fluctuation will stop let's say the rate will changed from every minutes or hours to days. Many businesses will establish with bitcoin like online shops because the value is stable.

[kidsuzudn]

one thing i can be sure with you if bitcoin becomes a legal currency, the price of bitcoin with get over 5k$ for sure !

[Natalim]

The thing is it will never become a legal currency because we already have one which is the fiat. Bitcoin is only a payment system and it's not hard
to understand that reality.

If bitcoin became a legal currency, I think the price would be fixed; the fluctuation will stop let's say the rate will changed from every minutes or hours to days. Many businesses will establish with bitcoin like online shops because the value is stable.

one thing i can be sure with you if bitcoin becomes a legal currency, the price of bitcoin with get over 5k$ for sure !

If you hope bitcoin will become a legal currency, you'll die waiting as the government would not allow that to happen, the money that we are using will only be the legal currency even in the future. We might shift from paper into digital but still it is controlled by the government.

[thunderbitz2717]

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?

This will be a big advantage for us are always consistent and committed to saving the bitcoin, because with bitcoin be legal then the higher price bitcoin because of the many requests and the least amount of bitcoin. But perhaps the more users the amount of fat in any transaction confirmation because the network of btc are having an overhead

Not only that, many of the bitcoin users in this industry for sure will going to have a prosperous life if that happen. And the economic situation by that time will be resolve at once.

[evilgreed]

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?

The ability of bitcoin is really awesome such as the transparency of it, when this will be legalized i doubt that the banks in the whole world will be doing its best to try to control this currencies and bitcoin's transparency will either vanish or disappear.

[Idrisu]

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 between is legalized then expect it values to increase exponential! Though the world power will try everything within their means to control it and that may lead to war. The values of it will be above $100,000 and it will become difficult to make bitcoin through mining.

[FLoving]

If bitcoin became a legal currency, I think the price would be fixed; the fluctuation will stop let's say the rate will changed from every minutes or hours to days. Many businesses will establish with bitcoin like online shops because the value is stable.

No at that time the price will not come to be fixed as then people will not worry to invest in bitcoin and everyone will try t invest in bitcoin as much as possible and with that way the price will start to increase with fastest speed and only when a time come when everyone will have a sufficient investment in bitcoin then the chance will come when the price reach to a fixed value.

[posternat]

If bitcoin became a legal currency, I think the price would be fixed; the fluctuation will stop let's say the rate will changed from every minutes or hours to days. Many businesses will establish with bitcoin like online shops because the value is stable.

I guess so, stability of the value might happen, the sellers will not be worried if the goes up and low, they gonna have fixed rate for bitcoin in their item they sell. and most people except traders will be revealed seeing bitcoin as a legal currency with stable price.

[Kevin77]

Here is your homework for the evening. Look up the difference between "legal currency" (like bitcoin) and "legal tender" (like US dollars). Bitcoin is, of course, legal. But legal tender would allow you to demand payment of taxes and court settlements using BTC.

Bitcoin is not “legal” , there is not specific law out there that says that you are not allow to use bitcoin, but there is nothing also that says that you are not allowed to use it at least not directly some countries don’t allow you to use foreign currencies, and if bitcoin becomes a currency which it is not at least in a physical way that will actually make it really popular and makes its price go up by a lot.

[stergium]

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 between is legalized then expect it values to increase exponential! Though the world power will try everything within their means to control it and that may lead to war. The values of it will be above $100,000 and it will become difficult to make bitcoin through mining.

to me i think the people trust will increase more and more, i think more people will take interest in bitcoin and so the price of bitcoin will also increase.

[Russlenat]

what do mean by legal currency?
bitcoin at first place is legal as digital currency and now is known globally.
many company and worlds government already adopt this digital currencies.

[Intersan]

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 a big help for every not only for making a profit but for payment transaction. Its not hassle and you can also used it to other countries unlike cash money that will use only in own country.

If bitcoin become popular, investor increase and use this as number business around the world. The dollar will down and bitcoin replace dollar.

Even the price become fixed, the processing through online payment is very fast.

[voltesbit777]

Everyone would like the bitcoin is accepted in all online and real stores and, as mentioned in the title, what would happen if Bitcoin became a legal currency?

If that happen all bitcoin users will become happy, and for sure the value of bitcoin will instantly increase.
And all bitcoin holders will become reach at once because of their coin holdings.

[FlightyPouch]

It would be a good news to many people who have invested BTC. I think if bitcoin will become a legal currency, it will be very helpful in all transactions. And many people will become millionaires.

It will be a good news to bitcoin users, the problem is the transactions, many bitckin users are having a lot of problem with their transaction becauase it is still not confirmed. If bitcoin become legal, and these are still a problem, it will be not that popular,they will be dumping their bitcoin, and find another digital currency.

[BitcoinPC]

I think we should have clear our mind that we are using bitcoin because bitcoin is a legal crypto currency. No doubt in it. But the problem is that in many countries bitcoin is not use in open market like any stores, coffee shops and restaurants. Because we have a limited circle and that is we could use it only online to online. But i believe in future, the time we will come soon when we could easily use bitcoin in open market but it need time.

[Pamadar]

It would be a good news to many people who have invested BTC. I think if bitcoin will become a legal currency, it will be very helpful in all transactions. And many people will become millionaires.

It will be a good news to bitcoin users, the problem is the transactions, many bitckin users are having a lot of problem with their transaction becauase it is still not confirmed. If bitcoin become legal, and these are still a problem, it will be not that popular,they will be dumping their bitcoin, and find another digital currency.

yeah right if bitcoin got legallized and this problem with transaction speed and fee's still present crypto holders will try to find another
coins which will give them the comfort of this issue is better to make sure that this concern will be taking care so it will be a smooth
and easy for newcomers to invest and joined the system.

[dasana212]

If bitcoin is legalized in my country, surely will invite many investors to bring their dollars and transact bitcoin. And that will make country's foreign exchange increase in addition to tax revenues increase as well. I'm sure not small value because we can see the current bitcoin capitalization.

[bouren]

Bitcoin to become a legal currency is far away from truth, its just a sweet dream. I don't think present form of bitcoin can ever be a legal currency due to several obstacles like fees, scaling, micro payment problem and more. If we want to see bitcoin be something that could even accept at coffee shop then we need to re-design it, Segwit indeed.

[digaran]

Bitcoin to become a legal currency is far away from truth, its just a sweet dream. I don't think present form of bitcoin can ever be a legal currency due to several obstacles like fees, scaling, micro payment problem and more. If we want to see bitcoin be something that could even accept at coffee shop then we need to re-design it, Segwit indeed.

Bitcoin is legal and any politician call it illegal is just plain stupid, now if we get SW activated we can buy coffee or SW will pay for our coffee?

No matter what no country will ever invest on a decentralized network where they can't predict and control that's why some of them declare it as an illegal currency.

After all it's a bank and a currency at the same time, many central banks are pressuring their governments to ban Bitcoin for good but they can't go against their people if they decide to use it as a currency.

[clickerz]

Well its happening now, that bitcoin is becoming a legal currency. Recently, Australia approves already and it is effective July 1 of this year.What will happen is that people will be buying a bitcoin at least, to have or own one just in case. It will create more demand, and bitcoin price will significantly rise.Good news to bitcoin holders.