Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Legality effect
by
Rufsilf
on 17/10/2019, 22:27:30 UTC
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
It's already recognized all of the world, and it's been subject to a bunch of regulations. A lot of companies are able to accept and real with bitcoin in the current state.

The problem is adoption - not that legal issues. We just don't have enough people who want or are interested in accepting crypto-currencies as a payment method.

People don't like change. Using fiat is much easier and habit for them, which is why BTC might only ever be a secondary currency and it'll likely never replace the top coin.
We can't say that adoption must be abrupt, it only gradually increases the numbers of people who could appreciate Bitcoin. The legality of bitcoin isn't a question since we/everyone needs it as our assurance.
We could say that the majority are still using fiat at this time and we can't deny it but eventually, we are adopting into the new form of technology that could even help us more and fasten transactions which people appreciated it.