Quote from: SHAWN-MIDWAYS on June 14, 2017, 06:53:10 AM

Quote from: iamTom123 on June 14, 2017, 05:15:36 AM

Quote from: lukmandog on June 14, 2017, 05:08:36 AM

Might help make life better if bitcoin becomes legal currency. Many parties will benefit from bitcoin. But for a country less able to protect value of currency, it may be an inflationary disaster for the country and its people.

Bitcoin is representing a technology that can disrupt with how we do things most especially in the financial sector and so far blockchain technology is praised as a very innovative way. There are now many countries who recognized Bitcoin as form of a currency...some are doing it for taxation purpose and some are laying down regulatory requirements and platform inorder to make sure that Bitcoin is not being used for illegal purposes.

Adoption of Bitcoin for all countries can take time though even in countries where Bitcoin is still illegal to own I am sure that there are those who have Bitcoin secretly.

Agreed. If Bitcoin became a legal currency we would see improved crypto services, also a shift of interest from fiat to cryptocurrencies as everyone wants to get to enjoy financial freedom and which could possibly cause some disruption in the money market for some local currencies.

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In the coming years, I am sure we can see a big boom for Bitcoin most especially if the scaling problem can be solved once and for all.

Very valid insight legalization would bring high demand and a problem to the bitcoin network if a scaling solution is not brought forward

Yes, bitcoin scaling is a real issue that the bitcoin is facing. In current situation I dont think the Bitcoin has the strength to deal all at once with the legalization. It can better be possible if the countries one by one accepts it and legalize it so that the Bitcoin get the time to upgrade its system to bear the increased transactions as we already are facing the transactions delay in the bitcoin.