Bitcoin Legality impact

[AyanShop 0]

My personal thoughts usually require, in the event that eventually bitcoin will get lawful legislation, and it is acknowledged worldwide. may fiat foreign currencies still function? that nation is going to be preserved through the economic climate? as well as that nations tend to be adversely impacted? Or even not really impact within the nation. simply because for me. once the legality associated with bitcoin is actually acknowledged around the world. You will see absolutely no foreign currency distinction. just about all ideals would be the exact same. or even will end up item products for example precious metal and so on. Provide me personally with your own viewpoint.

[Rg123 318]

8 hours ago, Jarrem said:

If that is the case I think improvement in transaction will be succeed, but unfortunately how the other countries adapt in btc especially the non-tech like ethnic groups and other non-urbanized lands?

I agree mate, We’ve no way of knowing what kind of impact bitcoin could have on the world if it is globally used although many believe that it could help third world nations, help the economy and so much more.

 

 

[Thekingcallme 1975]

Even if Bitcoin is supported by the world
Fiat currencies will not disappear as some think because they are important and there will be a bug if they disappear

[Great Commander 659]

Flat currency will still exist as they have been of our history but if bitcoin became legal globally, it will ne harder for poor countries to implement a new payment system as they have no enough knowledge on how to operate it. 

[bestprofi 372]

10 hours ago, Dprincebh said:

The Fiat Currency will be used for as long as the world exist, most of our people have already gotten used to the Fiat system I don't think they will want it go off the table

Perfectly agree with you on what you said. There are many interests for FIAT, from many parts of the economy and for this reason it will be used for a very, very long time.

[aika 286]

Bitcoin will always be an alternative system for fiat currency. It was never meanst to replace it, as per Satoshi's initial ideas. But as it become widespread, governments have to adjust their laws to make cryptocurrency use legal, trying to take out the illegality oura involved with the crypto. 

[Zzoro6110 19]

I don't think fiat currencies will disappear, but cryptocurrencies are a new addition to the business world

[Tine0313 3053]

Some country do not legalized the use of Bitcoin as use of payment but some see or recognized it as virtual currency. If bitcoin will be legalized all over the world, we need to make sure that our technology or i can say that we need an advanced technology that even ethnic people are literate about this.

[Syedbesharat 5423]

On 10/31/2019 at 9:09 PM, AyanShop said:

My personal thoughts usually require, in the event that eventually bitcoin will get lawful legislation, and it is acknowledged worldwide. may fiat foreign currencies still function? that nation is going to be preserved through the economic climate? as well as that nations tend to be adversely impacted? Or even not really impact within the nation. simply because for me. once the legality associated with bitcoin is actually acknowledged around the world. You will see absolutely no foreign currency distinction. just about all ideals would be the exact same. or even will end up item products for example precious metal and so on. Provide me personally with your own viewpoint.

The process of bitcoin lawful legislation take some time and their would be a procedure for that.Not like they came at mid night  and announce Bitcoin is legal now.Their is huge circular debt and credit of many countries.It will effect all financial circul.Which country have most bitcoin  will become richest country on earth.So thus will be take some time and after his legialation all things settel down easily.

[Khan 1414]

On 10/31/2019 at 9:38 PM, Jarrem said:

If that is the case I think improvement in transaction will be succeed, but unfortunately how the other countries adapt in btc especially the non-tech like ethnic groups and other non-urbanized lands?

Transaction are still not proper and also there is no check and balance on that transactions because if that's possible then all the issues will be fixed.

[dentolas 551]

On 11/1/2019 at 11:13 AM, bestprofi said:

Perfectly agree with you on what you said. There are many interests for FIAT, from many parts of the economy and for this reason it will be used for a very, very long time.

I do not agree with you guys... there is poerfull people and companies behind fiat currencies... but what will be the problem for these guys to transfer their power to crypto? not necessarily the current existing cryptos...

If you look carefully, this transfer of the system from fiat to digital money is already happening... even regular banks are adapting...

in the end, if people do not unite and build something different... we'll end up with exactly the same system, but with upgraded control over the people

[cheewy 271]

the legality of bitcoin is only for its use. the rules from goverment can help bitcoin and other crypto help the community, more oprtunity.

[Syedbesharat 5423]

14 hours ago, bitnoval said:

If bitcoin is fully legal to be used everywhere in the world, the impact to humanity will just be great, people everywhere will have a means to transaction freely without people looking over their shoulders and also cheaply.

You are right the economic atmosfair will be change around the glob and pepole will uae crypto and leave fiat money.But i think nothing is free in this worls.Their would be tax charges on bitcoin.The governwment could not let if good withoit taking some intereat from Bitcoin.It may be low tax but their would be tax applied on Crypto transactions.

[bestprofi 372]

14 hours ago, dentolas said:

I do not agree with you guys... there is poerfull people and companies behind fiat currencies... but what will be the problem for these guys to transfer their power to crypto? not necessarily the current existing cryptos...

If you look carefully, this transfer of the system from fiat to digital money is already happening... even regular banks are adapting...

in the end, if people do not unite and build something different... we'll end up with exactly the same system, but with upgraded control over the people

Rich and financially powerful people are in the cryptocurrency market only to earn money and manipulate prices in their favor. I doubt they will support a decentralized system that they cannot control.

[dentolas 551]

7 hours ago, bestprofi said:

Rich and financially powerful people are in the cryptocurrency market only to earn money and manipulate prices in their favor. I doubt they will support a decentralized system that they cannot control.

hmmm, I understand that point of view, but in my oppinion, things are not just black and white... remember that the best way to control people is to let them think they are free... and if we analyse things through, there are many ways crypto tech can be used against it's ideals

[Syedbesharat 5423]

On 11/4/2019 at 2:44 AM, bitnoval said:

Yeah what cryptocurrency is bring to the world is better than any financial payment system when crypto is fully legalize in all countries people will abandon flat to use cryptocurrency on a day to day basis.

Crypto is bringing many advantages but their are many disadvantages are  also .Which we are neglecting now.This financial system will take some time and proper legislation.Because crypto have been blamed for funding illegal activities like child porn,drugs,weapon buying ,terrorist .So all countries will so something about this.