How far bitcoin can progress in the financial world without legal acceptance

[emberbekas]

It would be hard for bitcoin to go any further if there is no legal acceptance worldwide. But fortunately, there are some countries that already marked it as legal currency which is good for the future of bitcoin. We just need to wait for more countries to start to accept bitcoin and then the party will be begin.

[metalglowd]

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

I think bitcoin is still really able to go further even if without legal approval, the proof?
since the birth of cryptocurrency until a few months ago before there was a SEC issue and bitcoin ETFs, it still works well right?

[Kakmakr]

Bitcoin is not waiting for some government bureaucrat to determine it's future. They have a choice, accept it or we go underground with it. This has happened many times before with things like liquor and tobacco and look at where those industries are today. Bitcoin anonymity just make it easier to take this technology to the Black markets. 

So, they accept it and they get the tax benefits or they deny it and turn it into a tax avoidance technology. 

[coinhunt]

I think that it can progress far enough. We can see tht now bitcoin make a good job and it’s capable to maintain its development without being legal all over the world. Bitcoin can keep on progressing in the financial system. I think the most important thing that a decentralized system supported by a big community worldwide has proved its efficiency. This fact cannot but frighten governments a lot. But sooner or later countries will decide on bitcoin status. It involves both advantages and disadvantages for the crypto world.

[yurekaa]

In my opinion. bitcoin will continue to grow even though there is no clear legal legality in all countries. for example, when bitcoin was present in the world in 2009 until now, no country has declared if bitcoin has been legally legal to date. but bitcoin continues to grow and grow and is able to attract Inevstor to have it. and bitcoin is able to become the first digital currency that can last more than 9 years.

[Choyor]

When the government does not recognize the existence of Bitcoin as a whole it is likely that there will be little problems regarding the use of Bitcoin in the country, so it can be ascertained that the development of Bitcoin will be hampered.

[bitterdog]

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

i think bitcoin will be able to go on although without legal acceptance because like we all already know the users of bitcoin is increasing time by time and im sure it will be increasing in the future.

[Jateng]

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

We can't really say how long it will takes. Some government is seeing this as a threat but some does not. Yes bitcoin is far from what it is 9 years ago. It is a good to think that it reached that far even though some are trying to stop it. I think bitcoin will continue to grow and be already accepted by a much more country in future. Maybe one of the reason bitcoin did not disappear is because everyday, people aaccepting bitcoin is growing.

[1NV3ST0NM3]

Legalization is an important issue these days. Legalization of the crypto currency market is very essential because then only it will be able to be accepted globally. Universal  acceptance of this digital market will enable the investors worldwide to make more out of it. Right now there are many countries where there are controversies ongoing relating to bitcoin, that is in turn effecting the prices of the crypto coins. In India, as we know lately Zebpay the premier crypto exchange has  shut down and this is the result of deliberations by RBI stating banning of crypto related transactions. So in such kind of environment how can one expect digital economy to flourish?!?

[Wittycoin]

As of now, bitcoin`s progress is still great because of it`s achievements. But as long as it is not yet legal, people would still doubt about bitcoin and think it is a scam. It would be a better progress if bitcoin will become legal already.

[ranman09]

Bitcoin lived through years without legal acceptance it's only now that it is mainstream that it needs legalities. I think bitcoin will still continue and it will be used again underground.

[bangkecol]

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

It is true that bitcoin was not received at the ETF yesterday, but during the session at the SEC, the SEC provided a countdown in 2019 where the progress was before the SEC.

It provides an open opportunity for audiences to comment on bitcoin. In the commentary session, many audiences gave positive responses about bitcoin, this is one of the capital in opening the opportunity for bitcoin to be accepted by the SEC next year.

[bitcoinVPSD]

Actually bitcoin can not go further in the future if it is banned all over the world. Bitcoin needs government approval. If all the governments do not accept the rules will slowly kill bitcoin. But at the present time bitcoin is being accepted from some big countries. That is a good sign and it opens up the bright future for bitcoin.

[Chuksbrownj]

When you say legally accepted by government, I smell "Regulation" discussion and I really don't think Decentralization and Regulation can work hand in hand because there is no trusted party.
Legalization=Regulation=Control
But be that as may, government won't have any option than to legalize it, the people and companies wants it, and government depends on people to remain useful.

[pawanjain]

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

Bitcoin was meant to be decentralized and as long as it stays decentralized it will survive. It will go a long way because the internet will never stop and hence the bitcoin network will keep functioning. As for the adoption of BTC, it depends on governments whether they accept it or not. Even if they don't, people like me and you will continue to use it. So,  as long as  there are people like us in the crypto community bitcoin will survive.

[Goldenmoll1988]

Without universal acceptance of Bitcoin, it will simply pick up its maximum speed, and then it will slowly or sharply jerk down as this will be the pyramid

[bitcoins94]

I am into AML BitCoins and I am sure this coin will and is taking huge steps towards being the best crypto in the market. AML BitCoin rests on a privately regulated public blockchain that facilitates AML-KYC compliance and identifies criminals associated with illicit transactions while maintaining and strengthening the privacy protections for legitimate users.

[bitcoindusts]

Till date, for nearly a century now, bitcoin has been in existence without an actual global legal banking.  Even with other places in the world banning bitcoin and all form of cryptocurrencies, bitcoin gained a price value of USD 20,000 a piece last year. And it all happened as bitcoin is being attacked regarding its legality.

So yes, bitcoin can progress in the financial world even without legal acceptance, should we decide to use it for its primal design, as a digital currency.  The problem of legality has always been focused on the investing instrument and derivatives. With price volatility and concerns about price manipulation, bitcoin as an investment might just face more hurdles in the coming years since the government has started taking serious steps to really know more about cryptocurrency.

[gabmen]

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

Bitcoin was meant to be decentralized and as long as it stays decentralized it will survive. It will go a long way because the internet will never stop and hence the bitcoin network will keep functioning. As for the adoption of BTC, it depends on governments whether they accept it or not. Even if they don't, people like me and you will continue to use it. So,  as long as  there are people like us in the crypto community bitcoin will survive.

Well it think it won't be as easy as that. You and me are probably living in a country that has a lenient or supportive stand about bitcoin but we can imagine how people from countries that ban bitcoin will do. Bitcoin will need support and acceptance from governments so it can grow. A couple of regulations to make it safer for users won't hurt.

[BitcoinPanther]

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

Bitcoin was meant to be decentralized and as long as it stays decentralized it will survive. It will go a long way because the internet will never stop and hence the bitcoin network will keep functioning. As for the adoption of BTC, it depends on governments whether they accept it or not. Even if they don't, people like me and you will continue to use it. So,  as long as  there are people like us in the crypto community bitcoin will survive.

Well it think it won't be as easy as that. You and me are probably living in a country that has a lenient or supportive stand about bitcoin but we can imagine how people from countries that ban bitcoin will do. Bitcoin will need support and acceptance from governments so it can grow. A couple of regulations to make it safer for users won't hurt.

Agreed, the process will entail a lot of difficulties should bitcoin remain to exist with no legal acceptance.

Though ideally, bitcoin was supposed to operate without any government nor legal acceptance, at the rate things are going right now (with many investors both individual and institutional taking interest), a government backing will surely not hurt provided that bitcoin's primal design remains the same.