Bitcoin Legality effect

[Bitcoin Seller]

If Bitcoin becomes a legal , can make effect the price of bitcoin will be very expensive because of limited stock and lots of demand. Online Marketplace will open payments via bitcoin, like amazon, ebay, alibaba, etc. Make it easy to send money internationally, open many job vacancies, and will have many ICO projects that sprung up.

But it will not erase fiat. Because fiat is the main currency of every country, bitcoin is only an alternative payment. Because there are conditions where payments can only be made by Fiat, for example areas that have not been covered by the internet network,  for shopping at traditional places that do not allow transactions with bitcoin, payment of employee salaries, etc. Because bitcoin prices are not stable.

Bitcoin legalization will affect the price of the cryptocurrency. It can grow first, but further, its volatility will be decreased. So, it can be assumed that BTC will start to interest people more not as an investment but as the virtual money for fast transactions. Sooner or later, but most governments will have to make crypto legal as we have come into the new era of blockchain and virtual currencies.

[malikusama]

my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. ...

But why would you rely on regulations so much? Why it's so important for you, that some political body will give you special permission to use bitcoin? You and everybody else, can use it, even when stupid politician says otherwise..  

~snip~

Exactly that's the point. Bitcoin was made to give freedom to public, if we rely on government authorities than the purpose of bitcoin will no longer exists.
Regulation may be encourage global adoption but it will take away the financial freedom for which bitcoin was designed.
Moreover a single currency for the whole world seems unrealistic and will not going to happen.

[panganib999]

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 bitcoin will achieve global legality, then this will ne a good start for bitcoin tofinally achieve what it was lacking, which is the adaption of it. Because the only thing that hinders bitcoin to achieve supremacy is the oppression being done by some governments and countries. Bitcoin will be recognized if this really happened and will somehow affect fiat because people will surely patronize decentralization.

[henmark]

I don’t want to believe that the fiat currency will completely stop working because even the bitcoin itself was only designed as an alternative to fiat and not as a replacement to fiat. It may only gain more popularity than fiat and because we have so many people in the world right now that are all internet inclined, so it would not be difficult for them to actually migrate from the use of fiat to the use of cryptocurrency.

We will surely still have more people too that will keep the fiat system alive, we will have people that will also be using both at any time that is convenient for them. The people that I see the implementation and regulation of bitcoin as currency affect most are still the financial institutions like the bank, they will surely lose lots of customers.

[Whittiesense]

If bitcoin become legal across the globe that will be the start of the bitcoin mainstreaming and bitcoin will be used as a legal tender. But even with the legalities bitcoin needs to overcome some big issues such as slow confirmation rate, areas without electricity and internet connection, poor people who cannot even buy computer or smartphones. So possibly it 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.

You are absolutely right. Certain rural areas will be affected greatly. Fiat won't disappear easily. It will take decades for bitcoin to be generally accepted everywhere and used by everyone. The unlearned ones would find it difficult to understand what it is, much more use it. We have a long way to long to go ☺️.

[Genemind]

If Bitcoin will be recognized and legalized around the world, it will surely bring a positive impact on its growth. Countries who will adopt it would benefit it as a mode of payment and as a digital currency. However, it will take time for most countries to legalize and accept it. There are still countries who lack necessities and equipment to adopt cryptocurrency. It's still inaccessible for a lot of people as well and they still need to be informed about it first.

[matchi2011]

If bitcoin become legal across the globe that will be the start of the bitcoin mainstreaming and bitcoin will be used as a legal tender. But even with the legalities bitcoin needs to overcome some big issues such as slow confirmation rate, areas without electricity and internet connection, poor people who cannot even buy computer or smartphones. So possibly it 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.

You are absolutely right. Certain rural areas will be affected greatly. Fiat won't disappear easily. It will take decades for bitcoin to be generally accepted everywhere and used by everyone. The unlearned ones would find it difficult to understand what it is, much more use it. We have a long way to long to go ☺️.

People who are uneducated will find this system very difficult and for sure it will be hard to embrace and accept the change easily. It will take time and it will serve as alternative and not the main fiat as government all over the world will keep what they originally have and only take the adoptions but not the entire removal of their own currency. The effects will be positive in terms of consumption and adoptions it will bring more success to this industry.

[secretgirl]

in my opinion someday bitcoin will certainly be recognized by the world and get legality, and if indeed bitcoin has gotten legality from the government, I think more and more people who have not understood bitcoin will learn and want to have it. and all that can make the price of bitcoin higher because the number of requests will be even greater. we know the amount of bitcoin is limited, so people will save bitcoin for the long term. in my opinion legality will make prices even higher even though there will be rules that will be created by the government. and all that will not affect the interest of people who already have bitcoin at the moment.

[palle11]

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

To this about the negative effect, I think the continents that are having issues with social amenities plus internet which is the main challenge to be faced. Believe me, the internet is a major challenge why many people in less technical countries don't embrace digital transactions and so, it will further create more problem. Internet connections are more sufficient in some countries.

[oktana]

I don’t want to believe that the fiat currency will completely stop working because even the bitcoin itself was only designed as an alternative to fiat and not as a replacement to fiat. It may only gain more popularity than fiat and because we have so many people in the world right now that are all internet inclined, so it would not be difficult for them to actually migrate from the use of fiat to the use of cryptocurrency.

We will surely still have more people too that will keep the fiat system alive, we will have people that will also be using both at any time that is convenient for them. The people that I see the implementation and regulation of bitcoin as currency affect most are still the financial institutions like the bank, they will surely lose lots of customers.

our generation may not have an effect, but in the future it will be clear that encouragement as an alternative will move smoothly into a negative change inductor for fiat value exchanged to bitcoin because there is no control of inter-crypto transactions and can be done at any time. can the government control their btc taxes?

The effect of legality will make the government unable to deal with currency controversies against various businesses that use bitcoin, especially currency laundering. There will be many problems that are not trivial.

[bagalkot]

In every thing their is negative and positive side, it is upto us to take which one is good. Same like when bitcoin will become legal world wide, then their will be lot of opportunity to each country, like lot of business will get developed through bitcoin and blockchain. More security will be their for every transaction but at the same time scammers will also become more and we have to be more alert in regards to it.

[barabarian1]

maybe in the future bitcoin will get legal rules and be recognized worldwide as a global coin. although bitcoin has become a global currency, I think fian money will still be there, because there are some people who don't understand technology, they always rely on fiat money.
and in my opinion, the legalization of bitcoin will improve the country's economy which legalizes bitcoin.

[sapnu]

my mind always asks, if one day bitcoin gets legal regulation, and is recognized all over the world. ...

But why would you rely on regulations so much? Why it's so important for you, that some political body will give you special permission to use bitcoin? You and everybody else, can use it, even when stupid politician says otherwise..  

~snip~

Exactly that's the point. Bitcoin was made to give freedom to public, if we rely on government authorities than the purpose of bitcoin will no longer exists.
Regulation may be encourage global adoption but it will take away the financial freedom for which bitcoin was designed.
Moreover a single currency for the whole world seems unrealistic and will not going to happen.

The legalization of bitcoin in every country has a big effect on the market itself. Since it is the most used cryptocurrency. It has a big impact because if it is being legalize in some countries that been banned, more investors will come and it has a great impact on the price itself. Making more money because the more investors the more people will buy bitcoin and a great possibility that they will support any other project that are coming since they are using bitcoin as their support but they can also earn while supporting other project. Just like in china if they are going to legalize bitcoin, we all kmow that china is a big country. People that want to invest in crypt but they are regulated before. It is a great help to the cryptocurrency community.

[Quidat]

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

Never ever on a situation where Bitcoin would able to reach out this kind of certain state.It might be recognized or adopted
but it wont come to the point where it would replace fiat currencies.Of cours fiat would always tend to work.Saved some economy? Possibly!
Its just always been good to be an alternative but not totally going to become  mainstream.

[Gotumoot]

If Bitcoin were to become legally available to people the fiat money would not be lost. It will remain until the world does not become equal!

This means that everyone will have the mobile phone, internet, computer and all the gadgets we need to have access to the bitcoin wallet!

But what about the people living in the corners of every country? the people who were not reached by the government service? the people who live in the mountains? people who are not in the center of commerce? How are they? How can they adopt such a technology?

Will they go back to the old days when they would use the gold, metal, silver and other stones to pay their bills when they went down the mountains and into the city?

[Kersh768]

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

I am actually hoping that fiat would keep on working when bitcoin gets a legal regulation all over the world. I am not longing to have bitcoin alone existing in our monetary system instead I want bitcoin and fiat to work in harmony so that each and everyone in the world could benefit from using both. In terms of the effect of it in the economy, we cannot be certain about anything yet since there's no living proof that can help us determine if it will cause detrimental effects to the economy or not.

[elisabetheva]

The possibility for that is very difficult to happen even though maybe all countries have recognized that bitcoin is a legal payment tool. because all countries also wish to be the best and get recognition, which will probably become obstacles later. uniting in a legal currency for an entire country might be difficult because of the culture and feel of a decisive country.

[Wawa2013]

Frankly, personally I cannot conclude that bitcoin will eventually be accepted in all countries and have laws. It might be recognized but it cannot replace fiat currency because its value is very volatile, so the economy fluctuates rapidly and it is unstable. If the government accepts this technology, maybe they will only create digital currencies in their respective countries with a stable value to keep the economy stable. It is possible that bitcoin will become a commodity item such as gold and its nature is only for investment and trading and remains as it is now.
Is not it now there are several countries that accept bitcoin but are not used as their country's currency. They just adopt it and impose taxes on citizens who do business in cryptocurrency.

[fiulpro]

You cannot expect the poverty to just go and disappear in the thin air.
You cannot expect the farmers to have mobile phones and do stuff with it when they are working hard physically.
You cannot expect the countries like North Korea , which is already going through a recession to actually go through with it .
You cannot expect the street markets to shut down when you don't really have any internet .
..
I don't think it happening even 50 years from now.

[rodel caling]

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

I think two if bitcoin become legal worldwide and under control by the government and the fiat is also exist, bitcoin and fiat are nothing difference because both is under contrpl by the government the proce value is stay what government want to be.