Bitcoin Legality effect

[romero121]

Fiat will always going to work and I think it will never cease to exist but I don't know in the future, though. Bitcoin wouldn't work without fiat these days because most of the economy in the country are depending on fiat. What would be the crypto do in the economy Bitcoin is not a stable coin in the first place?

Trying to make it as a global currency is impossible IMO since every country has a different leader with different vision that they want to accomplish.

There is nothing complicated, countries always want to keep the economy related factors to be in control. This is where bitcoin doesn't get the legality, through this countries will try to break its decentralized power which is the one that makes bitcoin to be unique from the traditional currencies. At few countries have given it the legality which is truly a big thing. As everything is getting to be part of digital growth, maybe someday we'll get every single country have a consideration on bitcoin to make it legal.

[bounceback]

I think if bitcoin becomes a legality digital currency, then it will put pressure on the fiat currency or government economy, people are automatically very many people today who want to trade with bitcoin and they also really want to invest with bitcoin because they know that bitcoin is good for investing in large amounts, and I'm sure if bitcoin has been formalized as a valid digital currency then the price of bitcoin will be higher because there are more of them interested in bitcoin.

[bitzizzix]

If all countries legalize bitcoin will benefit those who use it because of the limited supply of bitcoin, it will make bitcoin more expensive.
but for whatever reason bitcoin will not be able to replace fiat currency completely and both will be used for transaction tools, because not everyone can use bitcoin because of the limitations of the internet network which is very important to be able to access using bitcoin especially in remote areas and limited public thinking power in its ability to use technological tools and not everyone is supported by technological tools and at least smart phones to be able to use them, and there are many other reasons and for whatever reason fiat money will still be used and as a symbol of the country's currency.

[Zeke_23]

If all countries legalize bitcoin will benefit those who use it because of the limited supply of bitcoin, it will make bitcoin more expensive.
but for whatever reason bitcoin will not be able to replace fiat currency completely and both will be used for transaction tools, because not everyone can use bitcoin because of the limitations of the internet network which is very important to be able to access using bitcoin especially in remote areas and limited public thinking power in its ability to use technological tools and not everyone is supported by technological tools and at least smart phones to be able to use them, and there are many other reasons and for whatever reason fiat money will still be used and as a symbol of the country's currency.

The demand will increase that's why its supply will be limited, it is not something to be afraid, but it will be the reason for its price to increase or even maximize its price over the time. Its use will also be expanded where everyone can be able to use it in many ways.

[riso2015]

The demand will increase that's why its supply will be limited, it is not something to be afraid, but it will be the reason for its price to increase or even maximize its price over the time. Its use will also be expanded where everyone can be able to use it in many ways.

The use of Bitcoin I think will only be used by those who understand about the world of Cryptocurrency
not for other ordinary people are still very low in their knowledge of Bitcoin. If later Bitcoin is legalized, new Bitcoin users will increase.

[Eclipse26]

my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values ​​are the same. or will become commodity items such as gold etc. Give me your opinion

When bitcoin finally achieve adoption and legality around the world, fiat will still remain. Even if bitcoin got legally accepted, it doesn't necessarily mean that all fiat will stop working. Bitcoin will work as an alternative currency but not as a main currency. There would still be currency difference since crypto will just work as an alternative currency just like how bitcoin works now with countries who ain't banning bitcoin.

[SummerBliss]

my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values ​​are the same. or will become commodity items such as gold etc. Give me your opinion

The governments might legalize bitcoin and it can be used as legal tender or legal currency but it cannot be replaced by local currency of the country as fiat is physical store of value which can be exchanged for anything without the use of any internet transaction.There will be many people who would adopt btc but still people will prefer to hold fiat with them as its easy to use and without any complications.And there can be negative and positive effect like boosting of depressed economies or increasing illicit use of funds.Anything can happen who knows.

[Reatim]

my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values ​​are the same. or will become commodity items such as gold etc. Give me your opinion

Specifications cannot be done until things happens and this recognition may bring another dimension for crypt currency worldwide .
What capture my attention is the word “There will be no Currency difference “ what does it mean? Is that about all crypto coins and fiat will be the same?if that’s what you are pointing then I will disagree,what will happen to Bitcoin as number 1 ranked coin if they will have same value with ethereum and Ripple?nope there’s no sucking like this that’s one thing I am sure of

[xiboothrezi]

Fiat will always going to work and I think it will never cease to exist but I don't know in the future, though. Bitcoin wouldn't work without fiat these days because most of the economy in the country are depending on fiat. What would be the crypto do in the economy Bitcoin is not a stable coin in the first place?
Trying to make it as a global currency is impossible IMO since every country has a different leader with different vision that they want to accomplish.

That's true. If someday the legality of bitcoin is recognized globally, it does not mean that cryptocurrency will replace fiat. Fiat is one form of economic sovereignty of a country, where the government has full rights in regulating it in order to maintain economic stability in the country. While cryptocurrency, especially bitcoin cannot be controlled by anyone, the government may be involved only in the imposition of taxes related to all transactions and activities of its people with bitcoin. Besides that, not everyone is able to understand cryptocurrency, its technology, and how to use it, which is fairly complicated for ordinary people.

[imstillthebest]

Fiat will always going to work and I think it will never cease to exist but I don't know in the future, though. Bitcoin wouldn't work without fiat these days because most of the economy in the country are depending on fiat. What would be the crypto do in the economy Bitcoin is not a stable coin in the first place?
Trying to make it as a global currency is impossible IMO since every country has a different leader with different vision that they want to accomplish.

That's true. If someday the legality of bitcoin is recognized globally, it does not mean that cryptocurrency will replace fiat. Fiat is one form of economic sovereignty of a country, where the government has full rights in regulating it in order to maintain economic stability in the country. While cryptocurrency, especially bitcoin cannot be controlled by anyone, the government may be involved only in the imposition of taxes related to all transactions and activities of its people with bitcoin. Besides that, not everyone is able to understand cryptocurrency, its technology, and how to use it, which is fairly complicated for ordinary people.

yes it is . crypto is currently spread globally but look at other payment methods  . whether offline or online kinds of payment methods , they are still there alive and useable . the existence of cryptos did not affect them but itll only improve them i guess because whenever there is a new system , companies are trying to collab with them  .  so that itll make it more easier to cash in or cash out on both payment methods  .

[erickastella]

in my country Indonesian bitcoin has been recognized by the government and is very welcomed by crypto fans especially bitcoin, if the legalization of bitcoin in that country even if used as a transaction tool is good news for bitcoin itself apart from increasing bitcoin prices so people know what bitcoin is and the benefits.

[mdzahed134]

my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values ​​are the same. or will become commodity items such as gold etc. Give me your opinion

Although i think Bitcoin will never global currency in the near future because all of the countries governments will never do legalization. Because you know that a lot reasons in the behind. Fiat money is playing very important role in every country because it’s own currency so that others any virtual currency cannot beat it. Definitely there are many difference between BTC and Fiat Money how you will go to compare with both of coins. There are no chances to carry both of similar values or demands.                

[Ailmand]

my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. will fiat currencies continue to work? which country will be saved by the economy? and which countries are negatively affected? Or not effect in country. because in my opinion. when the legality of bitcoin is recognized throughout the world. There will be no currency difference. all values ​​are the same. or will become commodity items such as gold etc. Give me your opinion

If crypto gets regulated and massively adopted, it doesn't necessarily imply that it will fully take over fiat. Fiat money had already our system and it is difficult to replace a system or medium of exchange that had been there for a long time in a snap.

[Wintersoldier]

bitcoin is legalize the usage of bitcoin will still be limited in urban areas with people who can afford to purchase computer and smartphones. The problem will hit the extreme poor people and the people in far flung areas that has no access to electricity and internet connection.

I think for the future everyone will definitely follow the technology, because every day the technology is more extraordinary it only takes time. there will definitely be problems faced, that's the challenge.

These problem would be solve the technology as well, an idea that allows the legality and usage of bitcoin and cryptocurrency even in rural areas. Let's take an example, as single Radio Frequency Identification card might store cryptocurrency wallet (including private key), as well as the users information and what we just need is to distribute kiosk that will enable them to easily manage their wallet to check for their fund, transfer and more. In this case, the need for mobile phones, and computer will be necessary.

[Kambal2000]

bitcoin is legalize the usage of bitcoin will still be limited in urban areas with people who can afford to purchase computer and smartphones. The problem will hit the extreme poor people and the people in far flung areas that has no access to electricity and internet connection.

I think for the future everyone will definitely follow the technology, because every day the technology is more extraordinary it only takes time. there will definitely be problems faced, that's the challenge.

These problem would be solve the technology as well, an idea that allows the legality and usage of bitcoin and cryptocurrency even in rural areas. Let's take an example, as single Radio Frequency Identification card might store cryptocurrency wallet (including private key), as well as the users information and what we just need is to distribute kiosk that will enable them to easily manage their wallet to check for their fund, transfer and more. In this case, the need for mobile phones, and computer will be necessary.

And when the legality will happen in every nation, then, boom, the price of Bitcoin cannot control anymore, it will be the price we are expecting at as the demand will continually. So, the least thing we can do before that will happen is to have our own bitcoin even less than 1 Btc so that when that happens, we will have profit too.   

[Oasisman]

in my country Indonesian bitcoin has been recognized by the government and is very welcomed by crypto fans especially bitcoin, if the legalization of bitcoin in that country even if used as a transaction tool is good news for bitcoin itself apart from increasing bitcoin prices so people know what bitcoin is and the benefits.

Legalizations or regulations of Bitcoin to a specific country doesnt automatically mean the price will increase. Keep in mind that, not everyone is knowledgeable when it comes to cryptocurrency and blockchain technology. There's going to be a doubt at first. Plus, people might not get comfortable using Bitcoin as medium for transactions. 
I just had a though that were still far from global adoption, how much more when we're talking about global acceptance of Bitcoin and Cryptocurrency?

[lionheart78]

The demand will increase that's why its supply will be limited, it is not something to be afraid, but it will be the reason for its price to increase or even maximize its price over the time. Its use will also be expanded where everyone can be able to use it in many ways.

The use of Bitcoin I think will only be used by those who understand about the world of Cryptocurrency
not for other ordinary people are still very low in their knowledge of Bitcoin. If later Bitcoin is legalized, new Bitcoin users will increase.

A person don't  have to know the advance technicalities of Bitcoin in order to use it.  We just need to learn the basic of sending, receiving, and securing the wallet which I think even normal people are  capable of.  Besides there are lots of tutorial on the internet to acquire those knowledge.

Legalization of Bitcoin will both attrack and repel users.  Those who hates centralization will be repelled and will look for another decentralized, unregulated cryptocurrency, probably privacy coins while those who are waiting for the government signal will flock in.  Possibly the one getting in will outweigh those who are going out which will result in more demand and start ups since Bitcoin enthusiast can move freely to spread out the news about Bitcoin due to approval and regulation of the government.

[abel1337]

in my country Indonesian bitcoin has been recognized by the government and is very welcomed by crypto fans especially bitcoin, if the legalization of bitcoin in that country even if used as a transaction tool is good news for bitcoin itself apart from increasing bitcoin prices so people know what bitcoin is and the benefits.

Legalizations or regulations of Bitcoin to a specific country doesnt automatically mean the price will increase. Keep in mind that, not everyone is knowledgeable when it comes to cryptocurrency and blockchain technology. There's going to be a doubt at first. Plus, people might not get comfortable using Bitcoin as medium for transactions. 
I just had a though that were still far from global adoption, how much more when we're talking about global acceptance of Bitcoin and Cryptocurrency?

Legalizing bitcoin on a certain country won't increase the price instantly of course but it will surely affect the price of bitcoin slowly plus the incentives that the current country will receive. Like for example opening the eyes of citizens about bitcoin and the full acceptance of blockchain technology in their own country, That's why I believe that the effect of legalization on a certain country will take effect slowly.

[angrybirdy]

in my country Indonesian bitcoin has been recognized by the government and is very welcomed by crypto fans especially bitcoin, if the legalization of bitcoin in that country even if used as a transaction tool is good news for bitcoin itself apart from increasing bitcoin prices so people know what bitcoin is and the benefits.

Legalizations or regulations of Bitcoin to a specific country doesnt automatically mean the price will increase. Keep in mind that, not everyone is knowledgeable when it comes to cryptocurrency and blockchain technology. There's going to be a doubt at first. Plus, people might not get comfortable using Bitcoin as medium for transactions. 
I just had a though that were still far from global adoption, how much more when we're talking about global acceptance of Bitcoin and Cryptocurrency?

Legalizing bitcoin on a certain country won't increase the price instantly of course but it will surely affect the price of bitcoin slowly plus the incentives that the current country will receive. Like for example opening the eyes of citizens about bitcoin and the full acceptance of blockchain technology in their own country, That's why I believe that the effect of legalization on a certain country will take effect slowly.

Yes, it still has its progress before its price will surge.
Adaption from a certain country won't take effect instantly to bitcoin price, but we can see the changes in its price due to the increase in demand.
It will slowly increase until every individual that got into crypto will invest in it.

[riso2015]

Legalizing bitcoin on a certain country won't increase the price instantly of course but it will surely affect the price of bitcoin slowly plus the incentives that the current country will receive. Like for example opening the eyes of citizens about bitcoin and the full acceptance of blockchain technology in their own country, That's why I believe that the effect of legalization on a certain country will take effect slowly.

There will be an increase in prices if by legalizing Bitcoin then people start flocking to buy Bitcoin so that makes the demand for Bitcoin to increase of course If demand increases, the price also increases. I am optimistic that if many countries legalize Bitcoin, ordinary people will start learning about Bitcoin.