Quote from: vit05 on September 24, 2018, 11:27:55 PM

Quote from: magneto on September 21, 2018, 11:48:14 PM

Quote from: AAKODI on September 18, 2018, 02:49:07 AM

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 is a legal currency in the majority of the countries around the world.

I think what you mean by your post is really that bitcoin is not the recognised legal tender currency per se of any country worldwide, nor is it officially endorsed in the overwhelming majority of countries. But still, most governments at the moment take a neutral stance of bitcoin and regulate some businesses, without directly restricting the access of it.

I'd say that there is no problem with bitcoin not being legal tender in the long run because it's independent from fiat in the first place, that's what it's designed for. I honestly don't think it'll affect adoption whatsoever. The only concern would be if governments outright ban bitcoin use in their jurisdiction, but even then, these restrictions are hard to uphold because bitcoin itself is decentralised.

This is the great difficulties that many have about Bitcoin. Nowhere in the world is it totally forbidden, meaning no one will ever be arrested for buying or selling Bitcoin today.

What Bitcoin is lacking in many countries is regulation and understanding of what it is before regulatory organizations. This hampers the entire ecosystem related to Cryptocurrencies since many companies and exchanges often have no license to operate.

Still many governments haven't taken a significant action regarding bitcoin because some are bit uncertain whether this is an opportunity or a disaster for there economical system and some doesn't get the bigger picture about bitcoin and that is mainly because still it haven't made a huge impact in the business world that is powerful enough to make change for better so I think it might take more time for us to see a different