What would happen if Bitcoin became a legal currency?

[elbimbo012]

currently bitcoin is a legal currency sing it has a corresponding dollar value. the difference only that bitcoin is a virtual currency and currency and has no physical coin circulating in any country it only exist online but has a value which you can you to purchase anything thru online

[1714816446]

1714816446

[1714816446]

1714816446

[1714816446]

1714816446

[1714816446]

1714816446

[Honest Tim]

If bitcoin is legalise by the government,  the tag of unstability on the bitcoin will be removed.  And there are chances that bitcoin will be accepted by more and more users as a payment method.  As people and many Companies has still the doubt about bitcoins investment. But after legalisation there are chances that there is increase in investor and more and more companies will connect with bitcoin and will offer their goods and services in exchange of bitcoin as a payment in future. At least the market will look positive on bitcoin if more countries legalize bitcoin, so there is high probability that bitcoin prices will rise.

[futile-resistance]

Bitcoin for me can't become a legal currency, since right it is now not thought of as a legitimate forex, but because a good investment. If it would turn out to be 1 though, it is always good because you will see greater need. Due to greater need, bitcoin's price will increase and up but there is this issue using the provide so it being a legal forex appears like not possible in my experience.

if it becomes a legal currency, then that is not necessarily the case. because in this case we also never know how the upcoming bitcoin progresses.
even if it is true bitcoin be the currency of the law. of course bitcoin users increasingly make a profit.

If bitcoin would become a legal currency, then obviously the first thing to happen is a seizure on the price reversals, this is because the fluctuation of the value is just due to its decentralized nature and when it would come under the government, the investment rates would be completely checked and maintained within limits as far as the international market is concerned. In this way the price would move towards the stability scale.

[JCO05]

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?

Chances are high that it will be used by most of the people and the demand that it is having from the market will be higher that will positively affect its value on the market and would probably be more expensive. And since the deamand will be high, there's also a probability that it will be less volatile thaf will make it a better currency than it is at this moment.

[bakunawaaa]

I think the value will rise even more. Not unless they can figure out a way to actually regulate it from bottom up of the block chain technology, the price will continue to rise especially if it is made legal. But who knows what people are capable of.

[Rufsilf]

If bitcoin become a legal currency then it will make a huge difference in the price compare now and in the future, the price of bitcoin is still low because the demand is not fully maximized since there is not a lot of legalization for bitcoin but if bitcoin will become a complete legal currency then it will make a huge move for the price of bitcoin price.

[Gumpfire]

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?

In my own personal opinion, if bitcoin is accepted by the government and bitcoin can be used as payment in all online stores and real stores, maybe bitcoin users might increase because bitcoin is already legal and they cannot consider bitcoin scam anymore.

[dificanovi]

I think everyone will be crammed into buying bitcoins. everyone will use bitcoin to buy everything. bitcoin prices will also rise if bitcoin is legalized because people's need to buy bitcoin will increase.

[batang_bitcoin]

If bitcoin become legalized all over the world, think about this. We will buy products or services through decimals, "I'll buy clothes that's worth point zero zero one bitcoin". And if that happens, all of us will be rich that has some bitcoin before this happens. The demand will be vastly increasing that will make it's price very expensive. There will be no more robbers except those hackers and phishers but still this is now a cashless society.

[winfair]

I think if the bitcoin going to legal currency maybe it is OK for that or in near in future

[rayneh]

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?

In my own personal opinion, if bitcoin is accepted by the government and bitcoin can be used as payment in all online stores and real stores, maybe bitcoin users might increase because bitcoin is already legal and they cannot consider bitcoin scam anymore.

Bitcoin has practically changed the world by wiping out the joblessness on the planet and now a huge number of individuals utilize bitcoins for various reasons for existing that is the reason it appears that soon Bitcoin will be the legitimate currency of numerous nations and afterward the world will totally change and afterward nobody will carry on with an existence of neediness.

[Greatergrace]

It will bring another job opportunity for many broker and investors to increase new level of investment, bring about creativity and innovation to all

[sweetstakes]

Tax law firms will start completely new business units dedicated on how to properly account for collecting tax per country.

[noel2123]

It will bring another job opportunity for many broker and investors to increase new level of investment, bring about creativity and innovation to all

Yes this is true there will be more jobs opportunity to people since many will surely build there own businesses out of bitcoin/cryptocurrency ! we could also expect that the price will increase as bitcoin become a legal currency on a certain country,

[ricardobs]

currently bitcoin is a legal currency sing it has a corresponding dollar value. the difference only that bitcoin is a virtual currency and currency and has no physical coin circulating in any country it only exist online but has a value which you can you to purchase anything thru online

What would happen if at last it becomes a legal currency? As much as I think that will not ever happen, I will still give an answer to it, and this is it– if Bitcoin happens to be declared legal everywhere, it won’t nothing, it will still be the same Bitcoin we know today, people who doesn’t have interest still won’t develop interest in it. Though it will attract more people, and worst, more of the government’s attention and they will seek control over it (not likely possible, cause its decentralized) but they will find a way…. They will try to regulate and follow up with every transactions that goes in and out of every country (each government will have to control the share that comes into its country.

Fees are likely to increase to favor the government and other third parties. Lots of things will change, making a transaction to a different country will a huge fee just like in bank. As I said before, lots and lots of things will change. That’s what I have to say, it’s left for you guys to judge.

[coat47]

I don’t know if it’s a good thing if the bitcoin was accepted in the world as a currency, because currency need stability and there is so much speculation on the btc. Imagine you buy something for 10000 satoshi and the next day, the bitcoin increase of 10% ! and the next day collapse of 20% etc.  The shopkeepers would go crazy, you become crasy too, because that’s mean the  wages, the bill, the bread you buy would vary too much. The governments want to control the inflation. And you can’t control the btc unless all the governments buy 70% of btc ?

[putrii]

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 digital money and is formalized by the government then bitcoin will be very expensive and increasingly rare because everyone wants to have bitcoin.

[BitcoinNational]

I think everyone will be crammed into buying bitcoins. everyone will use bitcoin to buy everything. bitcoin prices will also rise if bitcoin is legalized because people's need to buy bitcoin will increase.

It will rise for a while for sure, the time that everyone run on the BTC but then I guess it would stabilize and becomes like every other currencies.

[Babylon]

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 digital money and is formalized by the government then bitcoin will be very expensive and increasingly rare because everyone wants to have bitcoin.

I do not think that it will become very expensive as it is or will be used by all over the world.  It would be of the same rate all over the world and that maybe help people to atleast alleviate their lives.  It would help the poor one to afford things which they cannot afford before since the price or value of bitcoin would be fair or equal to each and every country.  But that would be a daydreaming for us because there are other countries who are not in favor of bitcoin.

[susuberuang]

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 means of payment it will make the bitcoin price very expensive.