What would happen if Bitcoin became a legal currency?

[ladydark]

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 becomes a legal currency,the same thing would happen which happened in japan.There would be a huge demand for bitcoins and mass adoption would take place.As a result,bitcoin price would increase more high.But at the same time,bitcoin would be regulated and taxes would be levied for bitcoin earnings and governments would trace every bitcoin transactions.But it would definitely help for bitcoin progress.

[Cazkys]

If it Bitcoin can become a legal currency, not only an acceptable option of payment, then it will be a start of something massive. The mass will see its advantages and its pros. It will start a campaign for other countries  to legalize Bitcoin as currency so it will be easier for two territories to exchange trade.

[doublebit21]

I think it will affect the value of currency on every country on this world remember we have different value of money around the world and I think it start a war or arguement or something.

[BobBct]

Maybe the other money will be replaced and only BTC will be used.

[Pejoh Asu]

Maybe the other money will be replaced and only BTC will be used.

That is what we expect, in this world too much currency because almost every country has a currency (there is euro used europe area), so when transactions between countries cause problems, often use third party currency so that make economic inequality.

[chichigirl]

When bitcoin become a legal currency, definitely, in my opinion, there is a possibility of having a centralized currency if bitcoin will be spreading through out the world and if everyone is already learning about bitcoin. I think it is possible.

[BeGoods]

Everyone start working on bitcoin including those who afraid to join bitcoin world and thought that bitcoin is a scam and people are lying that they earn that much money from bitcoin.

Of course there will be massive mass adoption going on and then bitcoin prices will jump so high as there will be millions of users who come and invest and then work on bitcoin. Then I will not know after that maybe there will be a new problem, and it will always come

[btcdiggingmaster]

Everyone who afraid before will start buying Bitcoins and starts holding it. Now many people are kept understanding the potential of the Bitcoin because many countries are legalizing it as legit currency.

[Bone Collector]

bitcoin is becoming legal as years goes by, I love bitcoins present form and purpose. Theres a lot meaning when we say legal, bitcoins original form is unregulated it is not good to hear government wants to regulate it.

[kupido14]

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?

Massive mass adaptation would surely occur because btc is new in the ears of other people especially to the outside of the internet. Safety will be the biggest problem if btc becomes legal because of the absence of government many hackers will take this as an opportunity to hack many accounts of btc and it makes the digital currency more vulnerable to fraud and identity theft. As we don't have assurance that bitcoin will maintain its high price it is hard for us in the future if it becomes legal.

[Mr.Anonymous]

Everyone who afraid before will start buying Bitcoins and starts holding it. Now many people are kept understanding the potential of the Bitcoin because many countries are legalizing it as legit currency.

Well, after the event of Bimixer and BTC-e in July, we are know Bitcoin in current not anonymous as our means in first time. The government still control Bitcoin and they can catch criminals use Bitcoin for business unauthorized.

[cramcram21]

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?

There would be more investor and more user's because everyone would be using it,
And the price would definitely pump up as the investors and user's number grow up.

[finzyoj]

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 this will happen, the population of bitcoin will increased and no dumping will happen. Imagine if this will accept in all store, more peolpe will buy this because the capital can gives a profit. Since its not stable the only who used to buy is the profit. And I'm sure investor will put their money in bitcoin it is because of the profit, the supply of bitcoin will increase. And also the country who used this will grow the economy.

[epitome]

Everyone who afraid before will start buying Bitcoins and starts holding it. Now many people are kept understanding the potential of the Bitcoin because many countries are legalizing it as legit currency.

Well, after the event of Bimixer and BTC-e in July, we are know Bitcoin in current not anonymous as our means in first time. The government still control Bitcoin and they can catch criminals use Bitcoin for business unauthorized.

Bitcoin is not meant to do criminal or illegal activities and bitcoin was not anonymous even in the beginning and nothing has changed so far and if you are looking for the mixers ,there are several others sites where you could mix your coins if that is what you are looking for,the issue with BTC-e was a shitty affair.

[wahb]

I think it will affect the value of currency on every country on this world remember we have different value of money around the world and I think it start a war or arguement or something.

that is right but i think still people will continue use fiat also. because i do not that bitcoin can get the position of fiat in such a short time and therefore people will also continue using fiat. but i think the use of bitcoin will increase from time to time and so the sue of fiat will decrease, which will in fact become useless after some time.

[CODE200]

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?

First and foremost when bitcoin became a legal currency, it will be a big news published on newspapers, online media and even televisions. Upon legalization, many will be engaging into bitcoin and along with it, establishments will not upgrade their operating system to generate or accept the usage of bitcoin to follow consumers demands.

[Finestream]

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?

First and foremost when bitcoin became a legal currency, it will be a big news published on newspapers, online media and even televisions. Upon legalization, many will be engaging into bitcoin and along with it, establishments will not upgrade their operating system to generate or accept the usage of bitcoin to follow consumers demands.

It could be a legal currency like what some big countries are doing with bitcoin but it will not gonna line up with the features of a legal currency since bitcoin is decentralized and it will not work without people trusting it buying bitcoins from their fiat.
The supply is limited and it is one thing that could give a price increase as it is more popular, the technology behind which is the blockchain is the reason why it should be popular.

[mobilestrike]

Maybe the other money will be replaced and only BTC will be used.

Money cannot be replace by bitcoin easily. Neither the government will do that change because the governments consider their national currencies as their wealth and their national signs and they will not leave it. So i would tell you that it is better if bitcoin is nearly link to people but it is bad if the money changed to bitcoin. Bitcoin is best on its place and money it is good at its place.

[deppil]

Everyone start working on bitcoin including those who afraid to join bitcoin world and thought that bitcoin is a scam and people are lying that they earn that much money from bitcoin.

Yeah sure people who were previously afraid of bitcoin will start to believe with bitcoin and start using bitcoin because bitcoin has been legalized. Legalization will change everything. Including people's confidence in bitcoin because it will certainly make them believe and not afraid of bitcoin

[Mpamaegbu]

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 is a legal tender already. Maybe most people really haven't noticed that. Anything tendered or given in exchange for goods and services is regarded as money or a legal tender. Provided it isn't outlawed. Bitcoin is being accepted by some stores. There are Bitcoin Teller Machines in parts of Europe. It is already a legal tender maybe not generally accepted by all countries. OP, except you mean for all financial institutions of different countries like Central Banks to accept it? I tell you any day that happens Bitcoin will lose it appeal and it will crash because privacy and decentralization will be lost.