What is your expectation of bitcoin ?
If all countries legalized Bitcoin, the Bitcoin price would be more stable than it is today. Of course we will find it difficult to see a bull market as we feel today. And while currently Bitcoin is not legal in many countries, I see no restrictions for the use of Bitcoin so far. We use Bitcoin so far it's still smooth, I haven't found a blocked Bitcoin wallet. Of course if Bitcoin is legal, and certain rules are in place, I'm sure there will be high taxes here.
As you said, the legalization of bitcoin will help bitcoin become more popular and used and can be considered as a legal means of payment along with fiat, this is a positive but also has a lot of downsides that many of us will not like. That is it will become more stable, which is probably the worst if that happens. Volatility is a unique feature of bitcoin that no other asset class has ever owned before, if it becomes stable and unprofitable, then I think bitcoin will be no longer interesting and many people will leave the market in search of a more attractive market.
It doesnt really need legalization but rather recognition.It could really be recognized without having the need of centralization specially into the services that it do connects.
Just let recognition and popularity would do the work.Lets just accept the fact that it cant really be adopted nor accepted easily on each government on the world.
It would always be leaving out with that bad impression due into its features which is something that oppose centralization and its common sense that it wont really be
always ending up with good or positive impressions.Just let recognition do move in a normal way, we arent needing those things honestly.
We've been still doing good if we do see or pertain about recognition rate.
Recognize? that's even more unlikely, that's not how the government works, they will recognize it and they don't get any benefit from it. This is something no government has done before. If we were to expect a recognition, in my opinion it would be a permanent ban instead.
I would rather pay taxes and still be able to use and trade bitcoins than be banned forever, as long as bitcoin volatility persists, we can still make a profit, than there will be no chance to use bitcoin.