I think bitcoin legitimacy depends on it's demand ,popularity,raising rate and the way of using it.If the illegal use of bitcoin rate reduce than it can be possible to accept bitcoin more in all country.

Every instinct as an investor tells me to stay away from bitcoin, the online “crypto” currency invented by some mystery man and criticized by JPMorgan Chase chief executive Jamie Dimon on Tuesday as a “fraud.”

Dimon, one of the most powerful voices on Wall Street, said he would fire anyone trading in it because it’s “stupid.”

“It’s worse than tulip bulbs,” said Dimon, referring to the 17th-century mania that ended in collapse. “It won’t end well. It will blow up.”

Like most American investors, I am into vanilla savings like mutual funds, stocks, bonds and cold, hard cash. I don’t buy gold. I don’t trade in options. No derivatives for me. I don’t know how to trade in currencies. I don’t even buy lottery tickets.

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I don’t know what to make of bitcoin. You can’t eat it, wash in it, wear it, drive it. But you definitely can spend it. The price had risen 300 percent this year to more than $4,000, but bitcoin’s value slipped Wednesday following Dimon’s comments.

 
A bitcoin sign in Toronto. (Mark Blinch/Reuters)
“It’s quite speculative,” said Arthur Levitt, former commissioner of the U.S. Securities and Exchange Commission. “I would consider investing in companies that use bitcoin, or trade in bitcoin. I’m not sure I would invest in bitcoin itself. It fluctuates for reasons that are hard to understand.”


But cryptocurrency is with us for the future, he said. “I don’t know whether it will be bitcoin or ethereum, to name just two. But it’s here to stay because of the disparity between countries where a monetary system is robust and countries where there is virtually no monetary system. This comes up as an alternative currency.”

It was created by an unknown person in 2009 under the alias of Satoshi Nakamoto. Bitcoins can be used to buy merchandise anonymously, involving lower or no fees and no banks.

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When some of the countries find out what they think about bitcoin is not right,they will be forced to legalized bitcoin in there county justvas country are legalising it.

In some countries, any currency other than the national one is prohibited, because of this, not everywhere can regulate. There is another option is monopolize bitcoin, but this is impossible, so it does not work out that way.

In all countries bitcoin will not get legitimacy. There will be countries that will prohibit bitcoin

I think in the near future bitcoin will get legitimacy in every country. Experts still debating about bitcoin for its legalization so that governments also support bitcoin as a no. Crypto currency in this world.

Bitcoin will not create inflation.Inflation is obtained only when the currency is issued in unlimited quantities and then it physically ceases to be valuable.The countries will be divided into two camps. Those who support the cryptocurrency and those who prohibit it.The government are always careful in adapting new types of technology or system for their country.

Good thing, there are also countries that support and believe to bitcoin and the whole industry of cryptocurrency. It's just matter of jumping to the risks of this industry and using them to create more opportunities. Japan and South Korea are just examples of nations who are wise and bold enough to take this market further and encourage their own economy to adapt on it.