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roomfirst
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May 17, 2017, 12:34:46 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 You are right, but that also can be a good news for bitcoin. People will start notice bitcoin and the price of bitcoin itself can increase too. imagine if the price of bitcoin going rockets and bitcoin will be same as gold. |
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"You Asked For Change, We Gave You Coins" -- casascius
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horeca
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May 17, 2017, 12:47:30 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. You can trade now with bitcoin. You have no limits to it. But never bitcoin will not be recognized as an official currency. The only way is to buy an uninhabited island and establish there a state official currencies to bitcoin. |
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ozaeri
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May 17, 2017, 12:58:35 PM |
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Bitcoin is already a legal currency, it's just not a an official currency of any country yet.
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finzyoj
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May 17, 2017, 02:39:32 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 become popular around the world this will be much better than dollar. The proven is the security, can used in business and online casino, payment transaction and etc. All of this will be the reason why it became a legal currency. Investor use this as number 1 business because of being not stable price, chances to get more profit than the cash. |
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Kyraishi
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May 17, 2017, 02:45:11 PM |
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I think that we can already talk that bitcoin is something close to legal currency: nobody can forbidden using it, because all you need to have is internet connection.
But I suppose you mean something more like a regular cash money, that many people will use it as a legal payment solution.
Im almost sure that if we could see bitcoin very popular, many things would be easier to buy through the internet, or we could also see a big rise in digital markets.
Bitcoin and other cryptocurrencies are very comfortable in paying for some digital goods, so I think that many people would also like to choose that option of using cryptos.
However we need to wait a long time before that happens, because still not so many people are using bitcoin. If even more countries will accept bitcoin, that can be a huge difference for a price and market capitalization!-
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Jewell
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May 17, 2017, 02:48:32 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. and specially those people who know the importance of bitcoin. in fact they are using bitcoin for number of purpose, they are using bitcoin for investment, they are also using bitcoin for trading, they are also using bitcoin for shopping online as well as for shopping n local shops, depending of the availability of bitcoin to be use as currency. |
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Kyraishi
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May 17, 2017, 02:53:30 PM |
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I think that we can already talk that bitcoin is something close to legal currency: nobody can forbidden using it, because all you need to have is internet connection.
But I suppose you mean something more like a regular cash money, that many people will use it as a legal payment solution.
Im almost sure that if we could see bitcoin very popular, many things would be easier to buy through the internet, or we could also see a big rise in digital markets.
Bitcoin and other cryptocurrencies are very comfortable in paying for some digital goods, so I think that many people would also like to choose that option of using cryptos.
However we need to wait a long time before that happens, because still not so many people are using bitcoin. If even more countries will accept bitcoin, that can be a huge difference for a price and market capitalization!
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Zadicar
Legendary
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Activity: 1330
Merit: 1020
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May 17, 2017, 02:54:33 PM |
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It wont become a legal currency because bitcoin cant really replace fiat anytime soon no matter what because government wont really let this thing to happen knowing that bitcoin cant be controlled and cant be taxed which means they cant able to manipulate it if people or its citizens will use it.It maybe a good alternative but not the mainstream.We do really like to use it to purchase offline but on sad reality we cant really change it.
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Pab
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May 17, 2017, 03:03:16 PM |
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That time we will have all kind of taxes and regulations.Next big news that from July 1st Australia will accept btc like a money,like a money so will be no taxes
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reuschman
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May 20, 2017, 09:41:36 AM |
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it will be amazing if it would be a legal currency, but I don't that it would be possible. since bitcoin is based on anonymous username so there is a chance of doing illegal activities, so bitcoin should amend its rules and regulation. if it has clear and credible transaction system then it would be a legal currency otherwise not.
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Cazkys
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May 27, 2017, 04:20:05 PM |
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if we will take it step by step, it will probably look like this:
1. public commotion and confusion - questions of what really is bitcoin
2. media uproar- news and documentaries and interviews will be on every night
3. douchebaggery- smug people who already knows about bitcoin unhelpfully criticizing people on facebook who doesn't know about bitcoin
4. religious mayhem- if this is already the prophesied "Mark of the Beast", blah blah blah debate
5. more media uproar- people in suits spitting about bitcoin and foreign exchange, and trading and terms the general public doesn't really understand, not really explaining everything. they just want to look smart in front of people who have no idea what they are talking about they end up looking stupid.
6. silver lining- finally, a bit of understanding of what bitcoin really is
7. confusion- "will it replace paper money?"
8. politician- "heck no, how will we swim in money like a rapper in badly directed rap music video?"
9. understanding- more of a standstill. bitcoin will be accepted alongside the existing legal currency but will be heavily taxed.
10. more confusion, uproar, and douchebaggerry- but hey, pizzas for Bitcoin.
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KennyR
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May 27, 2017, 04:57:29 PM |
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If this gets a legalized usage access, the value will peak ad at the same time we can expect the network functioning same as that working under a centralized system. Moreover the possibility to get used in majority of the countries is low, because in a short traditional currency usage will decrease which might affect the economy of the country.
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rhamzter
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May 27, 2017, 07:36:22 PM |
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If the bitcoin became a legal currency, I think 1/4 of users income were get by the government due to the tax given. Also most of the gambling site were been closed because of legality. That's why it was hard to us if the owner decided to become legalize the bitcoin.
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bitbob82
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May 27, 2017, 11:49:15 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. although still we can use bitcoin for online shopping, as the government have no restriction over it, but still it bitcoin will become legalize then it will become more easy for the people to use it in local shops and in so many other places, specially in government department. |
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krisnt80
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May 28, 2017, 12:16:10 AM |
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Sorry im confused with the owner, anyway, legalize bitcoin would be better to all even countries that will aproach the legalization and will charge a fee to let the money we do get/ win/ have already to be exchanged without be blocked and try to find the source of it. The use of bitcoin would be another question because currently no one will wait 30-40 minutes to get money confirmed, soo bitcoin at this stage isnt a solution neither an option to the most merchants.
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Taki
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May 28, 2017, 12:38:16 AM |
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If the bitcoin became a legal currency, I think 1/4 of users income were get by the government due to the tax given. Also most of the gambling site were been closed because of legality. That's why it was hard to us if the owner decided to become legalize the bitcoin.
The percent of taxes is different in different countries, for example, in Serbia where I live it's 42% and in Russia where I lived before it was only 13%. So the value of taxes is going to be depended from the current government and law situation. I am sure we will not be able to skip this part of bitcoin adoption. |
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Casabrandy
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May 28, 2017, 01:55:53 AM |
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If the bitcoin became a legal currency, I think 1/4 of users income were get by the government due to the tax given. Also most of the gambling site were been closed because of legality. That's why it was hard to us if the owner decided to become legalize the bitcoin.
The percent of taxes is different in different countries, for example, in Serbia where I live it's 42% and in Russia where I lived before it was only 13%. So the value of taxes is going to be depended from the current government and law situation. I am sure we will not be able to skip this part of bitcoin adoption. Once mass adoption completely happen,government might make it a way to put taxes on it and to get money from it. Though it will have a long run of study to make it happen. |
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Sled
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May 28, 2017, 03:29:28 AM |
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If the bitcoin became a legal currency, I think 1/4 of users income were get by the government due to the tax given. Also most of the gambling site were been closed because of legality. That's why it was hard to us if the owner decided to become legalize the bitcoin.
The percent of taxes is different in different countries, for example, in Serbia where I live it's 42% and in Russia where I lived before it was only 13%. So the value of taxes is going to be depended from the current government and law situation. I am sure we will not be able to skip this part of bitcoin adoption. Bitcoin is tax free in our country and we don't pay taxes for the cash outs of money from bitcoin. I think if the government will decided to charge taxes then it will not be that high because bitcoin is still decentralized and they cannot dictate what they want for bitcoin so they will just make a little difference. |
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BeGoods
Legendary
Offline
Activity: 1372
Merit: 1008
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May 28, 2017, 04:13:33 AM |
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If the bitcoin became a legal currency, I think 1/4 of users income were get by the government due to the tax given. Also most of the gambling site were been closed because of legality. That's why it was hard to us if the owner decided to become legalize the bitcoin.
The percent of taxes is different in different countries, for example, in Serbia where I live it's 42% and in Russia where I lived before it was only 13%. So the value of taxes is going to be depended from the current government and law situation. I am sure we will not be able to skip this part of bitcoin adoption. Bitcoin is tax free in our country and we don't pay taxes for the cash outs of money from bitcoin. I think if the government will decided to charge taxes then it will not be that high because bitcoin is still decentralized and they cannot dictate what they want for bitcoin so they will just make a little difference. Of course for whenever bitcoin users are not required to pay taxes. Bitcoin is a free, secret, anonymous currency. Even if required to pay. You do not have to pay them they will not be able to do anything to you |
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NEWGOODOUBLE
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May 28, 2017, 06:17:44 AM |
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If the bitcoin became a legal currency, I think 1/4 of users income were get by the government due to the tax given. Also most of the gambling site were been closed because of legality. That's why it was hard to us if the owner decided to become legalize the bitcoin.
The percent of taxes is different in different countries, for example, in Serbia where I live it's 42% and in Russia where I lived before it was only 13%. So the value of taxes is going to be depended from the current government and law situation. I am sure we will not be able to skip this part of bitcoin adoption. Bitcoin is tax free in our country and we don't pay taxes for the cash outs of money from bitcoin. I think if the government will decided to charge taxes then it will not be that high because bitcoin is still decentralized and they cannot dictate what they want for bitcoin so they will just make a little difference. I think taxing could make bitcoin legalized by the government. That is one of the conditions But I'm still confused how to give tax to bitcoin users |
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