What would happen if Bitcoin became a legal currency?

[Cloak1]

It would absolutely make our life easier for any transactions. We don't need to bring a lot of money everywhere. The problem is when bitcoin becomes a legal currency, it would definetely be authorized by the government which might cause financial problem in a country.

[JTASSOCIATES]

If bitcoin become a legal currency we have to obliged to follow the rules and regulation of the country government which might impose taxes and the rete of bitcoin will be struck and it will be normal currency. people like as might suffer in future due to that let bitcoin be as it is and we will get more benefit from it. May be I am wrong but what I think only I mentioned here nothing else. Lot of things we should not force to change it we have to accept as it is then only it will be good for all.

[ruslango]

The entire world are unable to hold out to welcome this news because it will carry economic transformation in each aspect of our life. Bitcoin turning out to be a legal tender will bring liberty in payments , low transactional expenses, transparency and security in our payments will be improved owing to the blockchain engineering guiding it. I feel it will even eradicate earnings taxes.

[wurth]

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?

I think there is no need for bitcoin to be legal in a country, the government will just make things complicated because ploitician will have their own personal interest. I just love how bitcoin works in our coubtry, its not legal but it is accepted as a form of payment. It works well without government interference. But if government would help the crypto become develop and advance, then maybe that would be a good advantage of becoming legal.

Yes it will be good if that could be happened.  The rumors about bitcoin being illegal will be changed and those who are hesitant to use or join Bitcoin economy will adopt bitcoin since for them it is safe to be involved with it since government finally acknowledge bitcoin.  We can see in the economy of Bitcoin and then price will certainly goes up but tax will be implemented.

It has been done in some countries, you can check the government of the United States, Japan ... are taxing Bitcoin Miners and Bitcoin Exchange. Although they want to collect taxes on Bitcoin users, it is not easy for some users to not use KYC.

[sariz12]

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 legality... I think the bitcoin is legal because if this crypto currency is illegal why other company accept it to convert to fiat?? And all I want to say is, if this is illegal why they accept it??  Its legal in our country which is Philippines and I want to ask if there's a country that the bitcoin is illegal there??  I think all country allowed their countrymen to use bitcoin and other country introducing to use bitcoin.

[dmbragin]

If bitcoin turned authorized currency, all of money papers and cash will disolve or be out of date. Papers and cash that can be use to purchase items, foods and apparel will grew to become bitcoin or became a digital funds. Bitcoin income can depriciate the benefit of cash, it can virtual cash or be a high foreseeable future technologies involving income

[samputin]

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?

I think if bitcoin become a legal currency many transactions become easy..many people will be educated about bitcoin, many jobless will have thier source of income and i think the economy of a particular country will rise up..but in the bar side also many scammers and hackers will come...

[corroze]

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 in a country would be more benefits that can be obtained in the country especially for a better economic change of course.
but it certainly needs an effort from the government to socialize bitcoin to the community to be able to use bitcoin as a means of payment transactions or as a useful business asset.

[pathapoddo]

It will be nice. All of we want that. If it happen, there will be no place for paper money. Everyone will do their transactions by bitcoin. In every store, there will be payment by bitcoin. I think there will be a subject on bitcoin in college & university. It will be so nice.

[jatin729]

That would be really great moment for bitcoiners, because we would have one globe and one currency.
Transactions would be faster because blockchain technology is faster than any other banking system.
But tbh this is hypothetical answer which i gave, because bitcoin is decentralized currency.
" if no one has control over it than how it could be legal currency"

[Bellator]

It will be nice. All of we want that. If it happen, there will be no place for paper money. Everyone will do their transactions by bitcoin. In every store, there will be payment by bitcoin. I think there will be a subject on bitcoin in college & university. It will be so nice.

It has a great advantage so far it this will become a legal currency and that would will certainly be the reason that its value will rise due to demand also increase. We can have that assurance that our assets will be worth to hold for a long period of time. Being decentralized currency it will be also a good reason for us to reach our goals in the future, because of the proper adoption for all who known it due to legalization which every person become's familiar with.

[taiwww]

Chances of this are quiet less and difficult.
But even if this happens in future it will be a great opportunity for bitcoin to become number one currency.
People who are restricted because of legal status issue start investing in bitcoins.
As demand for bitcoins rise in numbers it will raise the volatility, and price will rise further more.
May the price of bitcoin will go out of range of many investors.
More opportunities will be available for minors, it will be a golden opportunity for them.

[tunctioncloud]

What is sure is that there would not be a surge in surge in usage by the average people. However geeks might buy some, and price would rise, as it did last time from Japan.

[Star_Bucks]

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?

A lot of things would change for sure but the certainty that this will occur is still far since bitcoin is not yet being trusted by some countries. If ever bitcoin will be legalized, convenience on how people hold their mone will occur and transactions of money all over the world will surely be easier than ever. Bitcoin's value is increasing so fast so if bitcoin will be proclaimed legal, a lot of oppurtunity will be given to people which will help them with their finances.

[Suguha]

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 will surely benefit if ever this will happen since we've known bitcon for long making us more able to adopt to the wide change that is coming. We will surely be beneficial in a way that we don't have to work that hard anymore since we have already bitcoin in our pocket. A lot of things will change starting from the method of payment and buying up to the process of transactions from different places in the world.

[Vaskiy]

If bitcoin becomes a legal usage all around the world, surely goodness in it will get affected. In specific bitcoin will go under some authority and the decentralized functioning might not be there anymore. Such a legalized usage has got disadvantages as well disadvantages associated with it.

[rainezerr401]

Probably bitcoins value will increase more than what is happening as of today, Everyone is striving to earn bitcoins as fast as possible because they know that the price will massively increase in the near future.

[_Mikasa_]

In my opinion its pretty hard to think that it could be a legal currency for a certain country but if it will happen, it could be a really big advantage for all people who invested in bitcoin. I think online selling will have the most potential if bitcoin became a legal currency.

[youdacapt]

In my opinion its pretty hard to think that it could be a legal currency for a certain country but if it will happen, it could be a really big advantage for all people who invested in bitcoin. I think online selling will have the most potential if bitcoin became a legal currency.

bitcoin will dominate future online sales as it trims down complex transaction and bureaucratic processes. But bitcoin would be very dangerous if it could shift the dominance of fiat in every country because they would lose their structured economic sovereignty, this would happen even after official regulation is in place.

[MAJICOIN]

If bitcoin become a legal currency then the people will love to accept everywhere and they will easily buy and sell their products in this currency worldwide. Bitcoin will get the legal status I hope that in the near future bitcoin will be legally accepted everywhere. If it get the legal status the popularity ratio of bitcoin will be increasing day by day.