What would happen if Bitcoin became a legal currency?

[Konyox]

if bitcoin became a legal currency then everyone will start using it and these type of things do not take time to become popular specially the legal once ad it will through out the faints as a timepass stuff.

and everyone will only search a job that is support a bitcoin.

[lady Royal]

If Bitcoins become the legal currency then we will see that everyone will adopt it and the price of Bitcoin will increase very fastly. So I hope that It will get legalized soon.

[Sled]

If Bitcoins become the legal currency then we will see that everyone will adopt it and the price of Bitcoin will increase very fastly. So I hope that It will get legalized soon.

I really hope that bitcoin will be legalized because it will indeed have a massive adoption from the people because they will trust bitcoin because of the legalization and because the government finally trusted bitcoin because if not then it will be just useless thing for them to make it as a legal cryptocurrency. In the next few years, i think that it will happen because even last year, some of the countries already did this.

[shileiya]

At that time, I think the price of bitcoin is very high, because billionaires in the world will surely buy a lot. The total amount of bitcoin will be 21 million. Obviously, the price of bitcoin will greatly increase. Compared with Bitcoin, now it becomes the legal tender , Then its price will fluctuate very little, Bitcoin will change the world economy.

[weiweianll]

All kinds of commodity trading can be paid by BTC. Paper money will be reduced!

The main problem is how to regulate the crime of using BTC!

[Rony24h7]

Bitcoin is electrical data and some countries have banned it because of many reason. This coins price is so much high and it changes its value at a regular interval and for this reason many people can get a good profit from it. If bitcoin  become a legal currency then some its price will not move regularly.

 I think and for this reason many people will be refused to get profit and many rich people will invest their black money into there and government will not have anything to do and for investing their much more money they will buy most of the bitcoin and general public can not be able to buy bitcoin because this coin is a limited coin and the main problem will this coin will move that’s price so high because rich people will so much affected with this coin. I think this position is good for general traders and governments. No need to make it legal currency.

[Xester]

this is still in the process stage of all developed countries, all countries are now making regulations about this digital currency.

Well here in my countries although there is no clear status of our bitcoin into our government.  But atleast here in my country, bitcoin is somewhat legal.  Although there is no direct confirmation. But thr fact that there are governmeny agencies who can be paid by pur bitcoin perhaps it is very legal.

[FLoving]

this is still in the process stage of all developed countries, all countries are now making regulations about this digital currency.

Yes I also think that these regulations are the process of making bitcoin as a legal currency for a particular state. Suppose if a state will take the regulations then it means that they are thinking for the use of it in their state and that is the way that a state make it a legal currency in the state.

[Blackmet]

I think that we will start using other cryptocurrencies in this case. When stick with bitcoin is dangerous better to change your currency and would be enough.

[rowel21]

a lot of things come to my mind bitcoin will be in demand  a lot of investors will pay atention in cryptos then the price will rise up everyone should be happy in that option but the side effect government will implement a  cryptosystem added tax and very time you cash your money in any bank PR remittance they gonna cut your money half and the half of your money will go to the government funds wth

[Leane Lee Natividad Cuenc]

It will be great if bitcoin accepted become legal currency, it will be easier for us to use and spend bitcoin, all transaction will become easier
So if bitcoin become legal it will bring a lot of great impact especially from economy side

It makes easier to all users of bitcoin if become legal currency.and no more doubts.because some outsiders said bitcoin is dangerous and scam,while they dont have any idea what bitcoin is,It will be great to all users if become legal the Bitcoin,all transaction will be fast and easier.

[LegendOF45]

All users would hope so, if bitcoin is legalized and used as a legal currency then it is certain that the price will skyrocket, may reach $ 1 million in a short time, and I'm sure that this will happen someday.

[mak lessoh]

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've been waiting for a long time and if that happens then more and more investors will come with their own money to start investing in new investments and this will make the value of bitcoin very high

[jak3]

First of all, I would like to announce that today Indian government has declared that they are not gonna legalize any decentralized currency so officially Bitcoin is not banned including other cryptocurrencies anyway if Bitcoin became a legal cryptocurrency then retailers and services (both physical and virtual) I going to start accepting Bitcoin on a wide scale. It is also going to improve the taxation collection of the Income-Tax and other types of taxes.

[bib24]

It will be a good news to all bitcoin users. If it was legalized then its easier for us to used our bitcoins in our daily activities the same way we spend fiat currency, however their might be a great chance that tax will be implemented.

[BitcoinPaw]

I think that many people will start selling / buying bitcoins in the same way as drugs and other illegal stuff. People will always find the way how to use illegal things.

[pallang]

If this will happen people will start learning about bitcoin so that they can have something to use and that the whole world would be using internet in order to use it and maybe people in poor countries had a hard time to adopt it.

[Mr.Anonymous]

First of all, I would like to announce that today Indian government has declared that they are not gonna legalize any decentralized currency so officially Bitcoin is not banned including other cryptocurrencies anyway if Bitcoin became a legal cryptocurrency then retailers and services (both physical and virtual) I going to start accepting Bitcoin on a wide scale. It is also going to improve the taxation collection of the Income-Tax and other types of taxes.

As you said, it means the Indian government will not work for any case about cryptocurrency because they do not accept the risk of cryptocurrency (the only decentralized currency at current). It also means in your country,  the cryptocurrency users have to accept the risk of this currency without any risk about the policies of the government, is right?

[Eugenar]

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 be in favor for Bitcoin because in  the frist place that's te goal of Bitcoin as a cryptocurrency which is to be used as a currency. But I think things won't be the same because There are chances that its market price will be higher because it will be more indemand and the market cap of Bitcoin is just limited. No one still knows what will happen if it ever it will be legal to most of the countries so lets just see it for ourselves in the future.

[Clara.Wilfred]

I could see bitcoin becoming the cash of the world. No need to get money changed before you go on holiday.