JofryTheKing
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Merit: 250
Fast, Smart, Trustworthy
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May 14, 2017, 11:58:26 PM |
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Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
If bitcoin is legitimate it will certainly provide many advantages for its users, including the price to be bolted, users will increase, etc. It will definitely be very influential for bitcoin I think that the time will come and we will see the real legalization of bitcoins. But I'm sure that this version of the development of events will not be to the liking of many users. |
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Pattart
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May 15, 2017, 12:23:44 AM |
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Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
Yeah legalization will definitely give a very good effect for bitcoin. Including prices that will explode as bitcoin demand will surely skyrocket as many people will start using bitcoin. Because bitcoin is safe |
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fitty
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May 15, 2017, 12:41:51 AM |
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Recently bitcoin has became the legal currency of Japan and the result can be easily found from the price of bitcoin that its price started to increase so much faster and it reached to $1800 and if it is made a legal currency by all other countries then we will be millionaires with our bitcoins.
Haha  funny thing but it is right. Take note that only one county legalized Bitcoin and its price pumps 100% in just a matter of one month. Think about half of the world legalizing it that would be 60+ countries and by rough estimating it its 6000% price pump. Well, I admit my calculation is pretty much impossible but anything can happen to Bitcoin. So keep holding your Bitcoin as much as you can or loose that opportunity  |
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mrcash02
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May 15, 2017, 01:59:51 AM |
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Aren't you liking how the BTC price is rising since it was created? So why do we need Bitcoin legalized by countries? Do you really think it would bring benefits?
I don't think so... Legalization brings regulamentations that bring extra rules when using the currency. You already have an idea about it by looking Coinbase, Xapo and any other regulamented service. It's the end of your pseudo anonymously, it's the end of the decentralized advantages we have at this moment. I hope countries don't interfer in BTC usage.
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enhu
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Activity: 2492
Merit: 1018
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May 15, 2017, 02:09:44 AM |
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Aren't you liking how the BTC price is rising since it was created? So why do we need Bitcoin legalized by countries? Do you really think it would bring benefits?
I don't think so... Legalization brings regulamentations that bring extra rules when using the currency. You already have an idea about it by looking Coinbase, Xapo and any other regulamented service. It's the end of your pseudo anonymously, it's the end of the decentralized advantages we have at this moment. I hope countries don't interfer in BTC usage.
Its already legal on Japan and it affected its price so much that holder didn't thought it could go up to $1800 this early. If it could be legal to a number of countries specially China, we'd all be seeing a good amount of cash even when you just have few btc in your wallet. |
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TronQuix
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May 15, 2017, 02:39:16 AM |
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I wouldn't be so sure about all this. Sure if it becomes widely adopted it would be great! Theoretically it could go up in value exponentially. However, the amount of regulatory pressure that it would see could very easily stifle it. Also that same pressure could force expansion of the blocks. Part of what makes it so valuable is that it has become an investment vehicle, not an item for making transactions.
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mrcash02
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May 15, 2017, 02:55:58 AM |
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Aren't you liking how the BTC price is rising since it was created? So why do we need Bitcoin legalized by countries? Do you really think it would bring benefits?
I don't think so... Legalization brings regulamentations that bring extra rules when using the currency. You already have an idea about it by looking Coinbase, Xapo and any other regulamented service. It's the end of your pseudo anonymously, it's the end of the decentralized advantages we have at this moment. I hope countries don't interfer in BTC usage.
Its already legal on Japan and it affected its price so much that holder didn't thought it could go up to $1800 this early. If it could be legal to a number of countries specially China, we'd all be seeing a good amount of cash even when you just have few btc in your wallet. Yes, but and about the "collateral effects"? It became legal, but won't they ask anything back? Like wallets (Coinbase for an example), they didn't charge fees by sending transactions there, but they didn't allow you to send money to gambling sites, and depending some other sites were forbidden too. And there is the Sportsbet too (regulated), they watch gamblers balances, withdraws: If you withdraw an amount bigger than X (I think 20 BTCs) you need to show ID and all related things... Good to see that the price increased, I just worry about what comes next... |
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rhamzter
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May 15, 2017, 03:40:28 AM |
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If Bitcoin became a legal currency, paper money will die. Because if the bitcoin currency were became legalized, digital era ware become more powerful. Also during that time most of the users were spend a lot of time to earn bitcoin.
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BeGoods
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Activity: 1372
Merit: 1008
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May 15, 2017, 04:02:47 AM |
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Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
Legalization of the government will certainly provide many conveniences afterwards. There will certainly be many stores that will accept bitcoin as a payment option. So you will have no trouble in spending bitcoin. |
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jonnybravo0411
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May 15, 2017, 04:06:25 AM |
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Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
Legalization of the government will certainly provide many conveniences afterwards. There will certainly be many stores that will accept bitcoin as a payment option. So you will have no trouble in spending bitcoin. Of course this will all happen if Bitcoin really becomes legal. But you need to find the circumstance of looking at the other side and it is especially worthwhile that a simple person will have a bit of difficulty using Bitcoin. I every simple person has an education or access to the Internet. |
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speem28
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May 15, 2017, 04:58:09 AM |
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Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
That's right! Legalization of bitcoin can give us many good benefits that will help us in our daily life. Also, the price of bitcoin will also increase as more and more users will also use bitcoin in their online transactions. Hopefully that the time where we will start accepting bitcoin as currency is within arms reach. |
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E-shipper
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May 15, 2017, 05:03:38 AM |
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To be honest, I have not yet thought about legalizing Bitcoin and how it will affect me, but I'm sure that the state will very quickly react to all Bitcoin users in terms of paying taxes. It seems to me that with this probability every Bitcoin user will have to reconcile and of course the State will never miss the opportunity to rip off a person.
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thymeow
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May 15, 2017, 05:13:31 AM |
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On my point view, this could be a great suggestion, i mean every transaction would be easy.
Nevertheless, the security must greatly focused on. Online transaction is very dangerous.
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PhucS
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May 15, 2017, 09:43:03 AM |
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If Bitcoin becomes a legal currency worldwide, this is a great and great advantage for BItcoin users around the world. We will be comfortable using Bitcoin without fear of its legality, transactions can also be made easier between everyone. However, Bitcoin may also be taxed. But I think it will take a long time to happen because currently Bitcoin is only recognized in some countries, many people still do not know Bitcoin, need to make Bitcoin popular with more people.
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Joshua101101
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https://saturn.black
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May 15, 2017, 10:17:05 AM |
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If Bitcoin becomes a legal currency worldwide, this is a great and great advantage for BItcoin users around the world. We will be comfortable using Bitcoin without fear of its legality, transactions can also be made easier between everyone. However, Bitcoin may also be taxed. But I think it will take a long time to happen because currently Bitcoin is only recognized in some countries, many people still do not know Bitcoin, need to make Bitcoin popular with more people.
Most likely bitcoin will be taxed and will lose popularity among users, so let it better and remain. |
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Xester
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May 15, 2017, 12:04:36 PM |
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Well, if Bitcoin became a legal currency that would be great! If all countries accepted it and engaged it to legalized it's a big advantage. Bitcoin absolutely help people. For my standpoint, bitcoin is the future. It must be legalized for helping many people. Bitcoin is not only a currency but an asset.
Bitcoin was already being legalized in some countries namely Japan. Japan declared last April1, 2017 that they are going to adopt bitcoins as a form of payment in purchasing goods and services. Another country will be also following the footsteps of Japan and it will be Australia. With Japan and Australia having accepted bitcoin we will experience bitcoins value going up to 5k US dollars this year. |
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BobBct
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May 15, 2017, 04:18:43 PM |
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Well if bitcoin will became a legal currency, definitely it has to be controlled by the government/bankers. I guess bitcoin is part of the evolution of our legal currency. Let see what will happen next. It depends on the peoples acceptance.
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deisik
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English ⬄ Russian Translation Services
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May 15, 2017, 07:46:03 PM |
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Yes, but and about the "collateral effects"? It became legal, but won't they ask anything back?
Like wallets (Coinbase for an example), they didn't charge fees by sending transactions there, but they didn't allow you to send money to gambling sites, and depending some other sites were forbidden too. And there is the Sportsbet too (regulated), they watch gamblers balances, withdraws: If you withdraw an amount bigger than X (I think 20 BTCs) you need to show ID and all related things I've never heard that Coinbase was prohibiting payments to certain sites Really, how would they know that a certain Bitcoin address belongs to a certain gambling site? In fact, a few years ago I was quite regularly sending coins from my Coinbase wallet to PrimeDice casino without having any issues (though rarely in the reverse direction, wtf). Regarding your other point, namely, that Bitcoin legalization brings about regulation, this seems to be inevitable but it largely concerns Bitcoin to real world transactions (like using bitcoins as payment for online stuff). Anyway, as long as you remain in the realm of Bitcoin exclusively, I guess you can safely forget about any such regulations |
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stephanirain
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Activity: 756
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Freshdice.com
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May 17, 2017, 12:24:11 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?
Yes it's true everyone who are using bitcoin would like bitcoin to be accepted by the government so we can use bitcoin to buy in online stores and real stores. If bitcoin became a legal currency we don't need to convert bitcoin as a real money and we can now store it or put it in the banks. |
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gabmen
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May 17, 2017, 12:32:05 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?
Yes it's true everyone who are using bitcoin would like bitcoin to be accepted by the government so we can use bitcoin to buy in online stores and real stores. If bitcoin became a legal currency we don't need to convert bitcoin as a real money and we can now store it or put it in the banks. that's right though I think we'll lose some anonymity if ever that happens. of course governments would want to have control over any currency that is being legally used so btc's anonymity may he compromised and there may be a lot of changes that can happen with btc |
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