I would never choose to lay pine for a dance floor, as it is a soft wood, easily marked, and subject to significant knots, which may bleed resin or even come loose.
However, if you already have a servicable pine floor (smooth, or at least capable of being smooth after sanding) and level (you may need to fill gaps), and with any nails used in securing the boards punched well below the surface, then it might serve.
If the floor has been newly stripped and sanded, and left as bare wood, then I would use only natural sealants and finishes. My suggestion would be to clean the floor to rid it of all dust from the sanding, and then to seal the grain with shellac before applying beeswax thinly, which should be well buffed before use. If the surface starts to show signs of wear, then reapplication of further wax should be all that is required to keep the floor in good condition as long as it is kept clean and free of grit and dirt.