What are the possible changes will happen if the bitcoin is legalized?

[jamids]

There will be more people and big businesses that will invest in cryptocurrency because they can feel the assurance that the law will protect them in case there would be happenings not in their favor. One of the hindrance why some people are doubtful to invest in bitcoin or in cryptocurrency as a whole is the lack of regulation which makes them not being protected and we know some people are not comfortable unless they can see that it is backed by government. Even in some traditional businesses, when it comes to investing we find first its registration and licenses before investing into it. The same applies to bitcoin. If it is legalize then more people would be interested to invest.

[Hellobx]

But I think it's hard to be a currency right now, even if it's legalized, but it's still hard to be a currency.
Because bitcoin transfer speed is slow, transfer fee is high, few people will use bitcoin as payment, I hope lightning network can solve this problem.

[preditor422]

These are the possible changes.

Peoples Perceptions.
It can change the opinions of people about the digital currency. It is because bitcoin is consider as the father of all crypto currency.

Evolution of Currency.
It can change our methods of payments, billing,  buying and selling things. Even our methods of transactions will change.

People.
We all know that money can change the people and so even the even crypto currency but it always depends on how the user will carry the bitcoin.

Transactions.
As I said earlier, bitcoin has the power to change our currency. If our currency will be change then the modes of payments will also change. We can pay using our mobile phones directly.

Share your thoughts.
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The first think that comes to my mind while thinking of bitcoin be legalized is hassle free transaction without any fear.This is of atmost important for small investors.If this happens than people will fear and this makes all the negative news and FUDs invalid.This makes dips invalid and we can have stable market.Isn't that great?

[CryptoBone]

I guess this conversation depends on your definition of "legal".  If you just mean mass adoption and allowed by banks then this would be absolutely huge for bitcoin but it will also slow it down more and show off its weaknesses as a currency.

[Kuya Kim]

it will happen that the community will have additional income and will change the existence of banknotes and ease in online transactions and the community will be easier in understanding how to learn it.

Banknotes will be less and less be significant in the coming years and will definite shape the future of online banking and transaction made evryday. And it will be a normal and common knowledge how bitcoin workds

[buternasek]

The main effect if bitcoins are received all over the world is of course about the method of payment that will change, before we use paper money as a means of payment, it will be replaced with a form of payment that is not shaped, which can be sent via phone or pc
and that's more practical I guess

[PatronRH]

If bitcoin becomes legal currency a lot of changes to be done the currency would be decentralized so governments and banks won't have the power to print more which will cause inflation. Yet with theses advantages comes some disadvantages. We cannot trace thefts and crime will be even stronger with it.

[SummonKing2]

Many can happen when bitcoin is legal throughout the world. it will be discussed and people can enjoy bitcoin likes and the confident they will make a lot of accounts to study carefully how to earn bitcoin and become rich. and you can tell your acquaintance for the same as making money on bitcoin.

[GeorgiyBilyk]

I agree with the guys who describe the situation! Sooner or later, the whole crypt market will be subjected to the greatest power! A lot of laws will appear on the retention and control of bitcoins! But now is a unique time to earn and watch the development of this world! While we have not been given new laws and taxes, we must earn and develop in the world of blockchain!

[Amilhussin24]

The first possibility could happen if bitcoin was being legalized Is, changing of price from lower price, into the moon. And payment method would be a lot easier than before. And off course the world would come into a beautiful world to live in by the beautiful used of cryptocurrency as a decentralized currency.

[filtyfrank251]

I agree with the guys who describe the situation! Sooner or later, the whole crypt market will be subjected to the greatest power! A lot of laws will appear on the retention and control of bitcoins! But now is a unique time to earn and watch the development of this world! While we have not been given new laws and taxes, we must earn and develop in the world of blockchain!

When bitcoin is legalized, the cryptocurrency market will grow stronger than traditional financial markets such as gold, forex, gold ... I think bitcoin can reach $ 100,000 at that time and It will become the common currency of the world.

[jayco25]

Possible Changes if Bitcoin already legalized in the World

1. More people will buy Bitcoin
2. Price will become triple or even times 10
3. No limit of transaction you can pay as you can. Unlike bank limited transaction or withdrawal.
4. Convenient transaction 24 hours
5. Our income thru Bitcoin become taxable


#Datarius

[darkangel]

These are the possible changes.

Peoples Perceptions.
It can change the opinions of people about the digital currency. It is because bitcoin is consider as the father of all crypto currency.

Evolution of Currency.
It can change our methods of payments, billing,  buying and selling things. Even our methods of transactions will change.

People.
We all know that money can change the people and so even the even crypto currency but it always depends on how the user will carry the bitcoin.

Transactions.
As I said earlier, bitcoin has the power to change our currency. If our currency will be change then the modes of payments will also change. We can pay using our mobile phones directly.

Share your thoughts.
P.S merit me if this post is worth for it.
P.P.S. please merit me so that I will be promoted

If bitcoin is legalized, it will become the common currency in the world. It will replace the dollar in the future. More businesses use bitcoin as a form of payment.

[jokowi]

These are the possible changes.

Peoples Perceptions.
It can change the opinions of people about the digital currency. It is because bitcoin is consider as the father of all crypto currency.

Evolution of Currency.
It can change our methods of payments, billing,  buying and selling things. Even our methods of transactions will change.

People.
We all know that money can change the people and so even the even crypto currency but it always depends on how the user will carry the bitcoin.

Transactions.
As I said earlier, bitcoin has the power to change our currency. If our currency will be change then the modes of payments will also change. We can pay using our mobile phones directly.

Share your thoughts.
P.S merit me if this post is worth for it.
P.P.S. please merit me so that I will be promoted

There will be many changes, I think the biggest change is the currency. Bitcoin can become the most used currency in the world because it has more advantages than cash

[rext]

These are the possible changes.

Peoples Perceptions.
It can change the opinions of people about the digital currency. It is because bitcoin is consider as the father of all crypto currency.

Evolution of Currency.
It can change our methods of payments, billing,  buying and selling things. Even our methods of transactions will change.

People.
We all know that money can change the people and so even the even crypto currency but it always depends on how the user will carry the bitcoin.

Transactions.
As I said earlier, bitcoin has the power to change our currency. If our currency will be change then the modes of payments will also change. We can pay using our mobile phones directly.

Share your thoughts.
P.S merit me if this post is worth for it.
P.P.S. please merit me so that I will be promoted

If the government accepts bitcoin, it will be managed by the government. The price of bitcoin will be interfered with by the government, its price is stable and unchanged

[Rooster101]

Many countries permitted their people to use bitcoin as one of their alternative mode of payment even though it is not legal yet or they do not make the usage of bitcoin itself illegal. Some of these are countries are planning to make a law that will tax and regulate bitcoin exchanges and usage by its people. If these happen, we can say that bitcoin is fully legalized.
Some possible changes like more tax, increased scrutiny by tax authorities of every bitcoin transactions,  increase in bitcoin demands, cashless payments will grow tremendously and the possibility that online scammers will use the opportunity to scam more people.

[ice18]

I think many people will shift their hard earned money from banks to bitcoin investment maybe this is one of the reasons why some other countries are still no effort to legalize bitcoin because of possible bankrupcy in some banks but I believe we also need banks inorder to convert our bitcoins to fiat thats why bankrupcy is not a big issue on the contrary it can increase the profit of banks from remittances came from bitcoins and other cryptocurrency win2 situation in both parties. 

[Florc41]

The possible changes if bitcoin will be legalized are:
1. The government would possibly create a law covering the operation of bitcoin.
2. Investors will be taxed especially those with higher investor value depending on the scheme/bracket or tariff to be created by the bureau
3. Foreign exchange is not be left out like in payment and other transactions will might be given rules and regulations by the Central bank
4. Income of investors will be monitored by the government agency
The government will find way to protect the asset of the people as it is always mentioned when it is not regulated bitcoin could be used in fraud or other illegal activities.

[Pamela Jobelle]

banks are the number 1 against legalization of bitcoin. Bitcoin becomes legal currency a lot of changes to be done the currency would be decentralized so governments and banks won't have the power to print more which will cause inflation. Yet with theses advantages come some disadvantages. We cannot trace thefts and crime will be even stronger with it. It will change a lot from nows bitcoin many will join and invest in bitcoins.

[rockyfeller]

If Bitcoin will be legalized then The price will increase rapidly because alot of users will use bitcoin as currency or can be commodities, the thing here is we have fast transaction and it can be done by both parties. Governments will not going to control us but they will use it for paying taxes.