Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: admin on May 23, 2020, 01:42:32 PM
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The national currencies of both Lebanon and venezuela have suffered a lot lately.
Do you think it would be a good bet if the population of both coutries go in crypto
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The national currencies of both Lebanon and venezuela have suffered a lot lately.
Do you think it would be a good bet if the population of both coutries go in crypto
I think it is better to use crypto stable-coins rather than a regular cryptocurrency such as Bitcoin and other cryptocurrencies. Because the volatility and Fluctuation of all the regular cryptocurrencies are very high and for me, It will not help the present economic situation in both countries. So it is better to use both the crypto stable-coins and all regular cryptocurrencies to show more options to choose.
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This is a great achievenent in crypto community.if these countries will go all in crypto, they saw the potential of blockchsin technology.
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On venezuela even dogecoin is better and most valuable that their own fiat currency, a lot of pople there are going to crypto and yeah, they should go all in on it.
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This is a great achievenent in crypto community.
Achievement? I don't see any achievements here. Using crypto to solve the problem of the financial sector on those countries is still a suggestion. It is still not implemented yet, and still no plans on both governments.
if these countries will go all in crypto, they saw the potential of blockchsin technology.
It is not an automatic thing. Crypto and blockchain technology has a different sector even both have a correlation.
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The use of BTC in Venezuela for payment & reserve has become commonplace, their cryptocurrency Petro actually exists only as a joke of the national bank.
Of course, the price of BTC varies hour by day, so a stable coin like USDT will be the optimal solution in the time of inflation of the national currency. However, national governments will not accept that, because it means they give up the right to manipulate the national economy.
We all see the answer, but don't know the best way to apply it to problem solving.
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Before implementing crypto to a country, they should know well the condition of their society. Is going to crypto the best choice with the current condition of the country and its society? If they go to the volatile crypto, it means that they also have big risks. But if they go for the stable coins, it means that they probably have the same chance as their fiat? I think if they get suffered and difficulties, they need to solve it with the basic elements of the problems, one by one.