What would happen if Bitcoin became a legal currency?

[Osarman]

when I view the Mr robotic series hackers are inclined to just hack cryptocurrencies like no a single is seeing them if this would be authorized several laptop hackers will just walk around acquire things with their stolen bitcoin on-line I never feel it is a great notion, for now that internet stability is not frequent.

Real life is a lot different from movies. Movies show hackers doing cool stuff in minutes but in reality nothing is like that. It takes months to do great things even in the world of hacking. Bitcoin has used SHA256. Just check the security level of this hash.

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[Zicadis]

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 is to happen world over it would mean high bitcoin prices as demand would grow faster than the current supply in circulation and some altcoins would ride this wave of bitcoin legalization making long time hodlers rich.

Bitcoin is not going to become legal currency

Its already declared legal in some countries and I honestly see other countries following suit as technology keeps getting advanced....so its just a matter of time before this happens

[Livictere1958]

The entire world can't wait around to welcome this news since it will provide financial transformation in each aspect of our lives. Bitcoin turning out to be a legal tender will deliver freedom in payments , low transactional charges, transparency and stability in our payments will be enhanced because of to the blockchain technological innovation powering it. I feel it will even eradicate earnings taxes.

[Cazkys]

If Bitcoin will be a legal currency the first things that im thinking or events is that a lot of people will suddenly become millionaires or perhaps billionaires once it became legal. Since before the Bitcoin boom happened a lot of people have already traded and kept their bitcoin. Now those peoples expectation are bearing fruit giving them more excitement that they are already rich with a digital currency that they can use anywhere on the globe.

[Mailly]

  So, all of who owns the Bitcoin is in an irregular predicament! This is completely inconsequential. We did not get this money by legal activities  Or instead most of us acquire this money by tough work and sleepless evenings and the continual thought.

[Sonin1944]

Bitcoin is not heading to grow to be legal currency and it is much better this way that way governments are not able to impose the exact same restrictions that other currencies have.

[RodeoX]

You newbies crack me up. Still talking about "legalizing" bitcoin when it has never been illegal. 

[fanbeila]

Legalization is good for bitcoin progress.If bitcoin gets legalized,most of retailers would start accepting bitcoin as payment.We saw in japan,just after legalization of bitcoin,now over 250,000 retailers accept bitcoin payment.Legalization would increase trust over bitcoin among people thus increasing more demand for new bitcoins.Bitcoin price also increased considerably after japan legalized bitcoin.But if bitcoin gets legalized,surely the bitcoin transactions would be regulated and bitcoin earnings would be regulated by the appropriate governments.

[Therly]

In most countries Bitcoin is not unlawful, just it is not legaly regulated. These are two distinct issues. Probably the question is what would take place if bi turns into the official currency in one of the nations around the world in the world, even though this is not extremely probably because of shifting the total economic climate technique.But with lehgal regulation we would do no hurt to Bitcoin, just split authorized of illegal use of it so that could assist us all.

[ajqjjj]

In most countries Bitcoin is not unlawful, just it is not legaly regulated. These are two distinct issues. Probably the question is what would take place if bi turns into the official currency in one of the nations around the world in the world, even though this is not extremely probably because of shifting the total economic climate technique.But with lehgal regulation we would do no hurt to Bitcoin, just split authorized of illegal use of it so that could assist us all.

Of course in most countries bitcoin is not unlawful.and it not legaly regulated there are the two distinct issues . Probably the question was take place if bitcoin into the official currency in some of the nation are called bitcoin economy and not legaly regulated we have don't  hurt to bitcoin and this only happen if bitcoin became a legal currency.

[Natural Perm]

I think it would be great if bitcoin accepted to bacome a legal currency in our country. Many people would be happy if it is comes. Anf id it accepted bitcoin will be very interesting so many people will use bitcoin. Every people wants to be a  millionair so they use bitcoin as a income. I hope goverment would not put tax on bitcoin.

[lazaruseffect11]

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 will have a disadvantage and advantage depends on the person who will use bitcoin. Some people who do not understand well the usage and capabilities of bitcoin will be confused on how can bitcoin will be used in transactions or any payments. For those people who knew bitcoin well, it will be easier for them to pay any transactions.

[bitcoinmasterlord]

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 bitcoin become legal, and all online shoppes and real stores accept it means it will reduce the tax that's it. Becasue what we will buy from our fiat currency that we can buy it from bitcoins, and there is no tax for bitcoins that's it right. There is no big changes can happen. And one more thing is we can transfer any amount of bitcoins to another person without paying much tax and no time limit for this transaction. Useally the banks will put some limit on every transaction.

[Tungsten-1]

I think it would be great if bitcoin accepted to bacome a legal currency in our country. Many people would be happy if it is comes. Anf id it accepted bitcoin will be very interesting so many people will use bitcoin. Every people wants to be a  millionair so they use bitcoin as a income. I hope goverment would not put tax on bitcoin.

Yes you are fully right and according to me if bitcoin become legal currency of the world, it will globalize all the economies of the world due to its decentralization and security. Secondly a large number of people will start using it for their business and sale/purchase of online products. It will totally discard the paper money from the world.

[SiDtHeBeSt]

I dont think bitcoin should become a legal currency that would replace the currency being used now, it should remain as digital currency and the physical currency should remain as it is, both of those cant be compared

[Webetcoins]

Bitcoin is not heading to grow to be legal currency and it is much better this way that way governments are not able to impose the exact same restrictions that other currencies have.

It will be the best news of this year if the bitcoin will become the legal currency because it will make our transaction and the conformation easier and shopping through bitcoin will be the easy and simple as compare to the past time;. So I think it will make bitcoin this currency more valuable and as the users of the bitcoin we will feel relax using bitcoin.

[Red Fish]

Bitcoin will not be accepted in shops due to confirmation times - up to 20 minutes and more, shops and supermarkets cashier will not wait. So may be Bitcoin can be accepted in Web shops, but it will also take time. And yes - Bitcoin can became a legal currency, with time that's possible. One country will start and others will follow.   

[bearexin]

Bitcoin is not heading to grow to be legal currency and it is much better this way that way governments are not able to impose the exact same restrictions that other currencies have.

It will be the best news of this year if the bitcoin will become the legal currency because it will make our transaction and the conformation easier and shopping through bitcoin will be the easy and simple as compare to the past time;. So I think it will make bitcoin this currency more valuable and as the users of the bitcoin we will feel relax using bitcoin.

I would say it the golden news of year, if bitcoin becomes legal its price will go more up than any other cryptos which will be very beneficial for the traders and investors. Online transactions will be taking less time because of legalization and the verification of the account holders will be simple.

[Spontebob]

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 are a lot of things that may happen if ever bitcoin will be legalized. It may help a lot in making every individual's life more convinient in terms of holding their money and using it. Maybe some will get confused a bit due to the sudden change of the currency. Another thing is I think it will reduce physical contact when it comes to mone because bitcoin will surely be dominant on those times knowing that it is the digital age already.

[Ajinomoto40]

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?

We are all waiting for this to happen because we know that this will really help us a lot in many ways. It will bring ease with the transactions when it comes to distance. If this would occur someday, I think it will result to a massive set of people who will use bitcoin as an instrument for them in starting a business. A lot of things may happen, it may cause some advantage or disadvantage to a certain individual but I know it will be innovated more for the better.