Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Philinfa on March 10, 2025, 01:26:18 PM
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
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Accepting Bitcoin as a legal tender may not give results and increases such as countries/companies allocating 5% of their profits to buy Bitcoin, so everyone using Bitcoin does not mean that its price will rise, but these companies considering Bitcoin a long-term investment is what will lead to a sharp increase in the price.
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Not really but countries should accept BTC as investment option for the people to earn. Doesn't necessarily for payment in our daily purchases but can be an option for stores.
Because US government is already stockpiling BTC for their strategic reserves, it should also be good for countries to follow stockpiling BTC because this is where US is going. A number of countries already have BTC.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Here I will say currently most of the power full countries they just want to increasing their gold reserve because it is the precious things in this earth and it is limited and that's why in the future the value of gold is always increase.
Here I think for the same reason obviously most of the country should accept the Bitcoin as their reserve. Because Bitcoin is the Digital gold right now it has only 21million maximum supply so the demand will be always on the high. And in the future we will also see that the country who have more reserve in Bitcoin those will be more strong by economically.
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Bitcoin suppose to be go against every bank and government policy.
Bitcoin is just an alternative and not a substitute.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
El Salvador borrowed $1.4 billion from IMF recently and on the agreement that the country will purchase bitcoin no more. This will take effect in April 2025.
Do you think every country should have a Bitcoin reserve?
Bitcoin as a national and state reserve is good if done wisely.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Governments buying bitcoin.
Making it as legal tender
Accepting BTC as payment.
All those things are different from one another, we have countries where users are not encouraged to hold bitcoin but government is accumulating bitcoin.
Some countries in the past enabled BTC as mode of payment for tax reporting but not sure their current status.
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Your title and post content don't match. In the title, you mentioned BTC as a means of payment (as a legal tender within the country), but in the content, you talk about BTC as a central reserve for every country. While the latter is bound to happen, I am a little skeptical about BTC as a means of payment for masses. Bitcoin will be considered an asset class like gold and silver based on the massive holdings of whales and the amount of total BTC in existence.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Here I will say currently most of the power full countries they just want to increasing their gold reserve because it is the precious things in this earth and it is limited and that's why in the future the value of gold is always increase.
Here I think for the same reason obviously most of the country should accept the Bitcoin as their reserve. Because Bitcoin is the Digital gold right now it has only 21million maximum supply so the demand will be always on the high. And in the future we will also see that the country who have more reserve in Bitcoin those will be more strong by economically.
This is why I understand that the main countries accumulate gold, since it is scarce and has been considered as a valuable commodity that can store value for thousands of years. In comparison to Bitcoin, it shares the rarity and the desire to own something that can not be reproduced by mere pressing a button. Yet the fact is that gold has been a significant part of the financial system for many years, while bitcoin has not yet stable position in this sphere. While on the one hand, more and more people seek to obtain Bitcoin, not all the countries consider it as a reliable reserve currency. As more countries in the future adopt Bitcoin as an important asset then it can have great consequences for the global economy particularly for countries first adopters.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Here I will say currently most of the power full countries they just want to increasing their gold reserve because it is the precious things in this earth and it is limited and that's why in the future the value of gold is always increase.
Here I think for the same reason obviously most of the country should accept the Bitcoin as their reserve. Because Bitcoin is the Digital gold right now it has only 21million maximum supply so the demand will be always on the high. And in the future we will also see that the country who have more reserve in Bitcoin those will be more strong by economically.
This is why I understand that the main countries accumulate gold, since it is scarce and has been considered as a valuable commodity that can store value for thousands of years. In comparison to Bitcoin, it shares the rarity and the desire to own something that can not be reproduced by mere pressing a button. Yet the fact is that gold has been a significant part of the financial system for many years, while bitcoin has not yet stable position in this sphere. While on the one hand, more and more people seek to obtain Bitcoin, not all the countries consider it as a reliable reserve currency. As more countries in the future adopt Bitcoin as an important asset then it can have great consequences for the global economy particularly for countries first adopters.
The real BTC can't be reproduced but there are platforms that are actually trying to increase the number of BTC. They are the wBTC, rBTC and so forth. Somehow the number of BTC is becoming unlimited with the number of smart contract platforms that applied pegging and Defi. Despite this BTC still is valuable. They say US, HongKong and Germany are already up to create Bitcoin reserves.
But Gold is still one of the most valuable asset to keep and countries are still buying it like China who have been stacking for awhile.
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Your title and post content don't match. In the title, you mentioned BTC as a means of payment (as a legal tender within the country), but in the content, you talk about BTC as a central reserve for every country. While the latter is bound to happen, I am a little skeptical about BTC as a means of payment for masses. Bitcoin will be considered an asset class like gold and silver based on the massive holdings of whales and the amount of total BTC in existence.
I agree with you, there is a link between Bitcoin and it being against the banking system and it being a cheaper alternative and an investment opportunity.
The real BTC can't be reproduced but there are platforms that are actually trying to increase the number of BTC. They are the wBTC, rBTC and so forth. Somehow the number of BTC is becoming unlimited with the number of smart contract platforms that applied pegging and Defi. Despite this BTC still is valuable.
If they print more tokens than the amount of Bitcoin locked up, these are not wrapped tokens but altcoins, and their value will depreciate sharply compared to Bitcoin and have no impact. In fact, there are many risks associated with using these tokens, so it's best to avoid them.
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This is why I understand that the main countries accumulate gold, since it is scarce and has been considered as a valuable commodity that can store value for thousands of years. In comparison to Bitcoin, it shares the rarity and the desire to own something that can not be reproduced by mere pressing a button. Yet the fact is that gold has been a significant part of the financial system for many years, while bitcoin has not yet stable position in this sphere. While on the one hand, more and more people seek to obtain Bitcoin, not all the countries consider it as a reliable reserve currency. As more countries in the future adopt Bitcoin as an important asset then it can have great consequences for the global economy particularly for countries first adopters.
In a word, if we want to say it, we have to say that the limited things in the world are precious to us. To put it in this perspective, there are only 21 million Bitcoins available for 8 billion people, and the human population is increasing further.
We may not realize now how important Bitcoin adoption is for a country, but we will see it 10 to 20 years from now.
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Accepting Bitcoin as a way of payment would make a easy and fast transaction, but there would be some disadvantages cause not everyone are educated about blockchain technology in some region but overall could be helpful. Countries initiating Bitcoin reserve could be good for long-term let's just hope they don't give up on it during a bear market
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I would not be against all countries accepting Bitcoin payments as optional payment.
El Salvador did experiment with limited acceptance of Bitcoin payment, but this didn't turn out in the best way.
First they used custodial wallet issued by government and I think that is not using Bitcoin mainnet but lightning network as default.
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I would not be against all countries accepting Bitcoin payments as optional payment.
El Salvador did experiment with limited acceptance of Bitcoin payment, but this didn't turn out in the best way.
First they used custodial wallet issued by government and I think that is not using Bitcoin mainnet but lightning network as default.
they still profited from the coins they bought a long time ago. and the experiment isn't over yet i'm sure they can make changes to what they are doing as of now.
but i'm still considering Bukele did the right thing. if he can convince the people to buy more BTC through the funds from the national government budget i guess it will be an strategic reserves.
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If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy,
El Salvador are still dependent on the imf, they still run to them for loans and the imf gives them conditions before grating them loans. Nothing much has changed for their economy as well. I don't see why every country should have a BTC reserve, what i hope for is for BTC to be used as a means of payment in every country and widely adopted.
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Do you think every country should have a Bitcoin reserve?
It depends on the government itself, just like in El Salvador as you have said, but what if Bukele is no longer the sitting President? And now that Trump has somewhat magnified it, then we hear some countries already thinking about doing the same. But the thing with Trump is that they are not going to purchase Bitcoin or any other crypto for their reserves. So it countries think that it's good for them then why not? But for sure, majority won't do it because of the nature of crypto, it's very volatile. Maybe they will just have like a couple of millions to just to test and see how it goes for them in the future. But if we say that it will be the standard, I doubt that it will happen.
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I always want to ask people, who say that they want countries to accept BTC as payment, why exactly do they want it. BTC as a payment is not the same as cryptocurrencies being legal in country. I wonder what people will do when they can pay in bitcoin anywhere. I dont think that a lot of people will use that opportunity. Because it does not make sense. People claim all the time that they are holders, how cool it is to hold because BTC price grows with time. And all of sudden they change vector of thinking and start spending BTC? But minute ago they told that BTC will cost $200k or a million dollars, and they would never sell BTC for a low price.
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but i'm still considering Bukele did the right thing. if he can convince the people to buy more BTC through the funds from the national government budget i guess it will be an strategic reserves.
Bukele didn't convince anyone to do anything, and regular people didnt spend their own money for this :)
He is more like dictator in his country and he spent budget money for purchasing Bitcoin, but than he signed a new deal with IMF and that slowed down BTC purchase.
El Slavador now have 6089 BTC worth around $528,000,000 and this can be tracked:
https://treasuries.bitbo.io/el-salvador/
This is small amount compared to USA, China and other countries:
https://treasuries.bitbo.io/countries/
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I always want to ask people, who say that they want countries to accept BTC as payment, why exactly do they want it. BTC as a payment is not the same as cryptocurrencies being legal in country. I wonder what people will do when they can pay in bitcoin anywhere. I dont think that a lot of people will use that opportunity. Because it does not make sense. People claim all the time that they are holders, how cool it is to hold because BTC price grows with time. And all of sudden they change vector of thinking and start spending BTC? But minute ago they told that BTC will cost $200k or a million dollars, and they would never sell BTC for a low price.
The volatility of crypto oni sometimes makes people wonder whether bitcoin can be used as a payment method, because the price can change at any time.
I also think like you, bitcoin is better used as an investment because we get profit from bitcoin faster. But anything can happen in the future, if bitcoin is more popular and owned by many people, the price of bitcoin will likely be more stable and can be used as a payment method.
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I always want to ask people, who say that they want countries to accept BTC as payment, why exactly do they want it. BTC as a payment is not the same as cryptocurrencies being legal in country. I wonder what people will do when they can pay in bitcoin anywhere. I dont think that a lot of people will use that opportunity. Because it does not make sense. People claim all the time that they are holders, how cool it is to hold because BTC price grows with time. And all of sudden they change vector of thinking and start spending BTC? But minute ago they told that BTC will cost $200k or a million dollars, and they would never sell BTC for a low price.
The volatility of crypto oni sometimes makes people wonder whether bitcoin can be used as a payment method, because the price can change at any time.
I also think like you, bitcoin is better used as an investment because we get profit from bitcoin faster. But anything can happen in the future, if bitcoin is more popular and owned by many people, the price of bitcoin will likely be more stable and can be used as a payment method.
If volatility is the reason why BTC cannot be used as means of payment then fiat currencies which also experience inflation should also not be accepted. Moreover, there is an increasing tendency of institutions adopting BTC and the market proves that there is no decline in demand as much as price swings. That is why many people can view BTC as a high-value asset, not only as a tool for transactions. If someone still carries the mentality that BTC can still only be used after it is truly stable, then that person will not get it that technology changes with time, and the usage of the BTC is not really by the price but by its use in many more fields.
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I can imagine Government agencies accepting bitcoin but transaction is done through payment gateways that will automatically convert BTC into fiat or stable coin. It's like the companies are paying their taxes using BTC but Government receives them in the form of fiat. No difference.
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I can imagine Government agencies accepting bitcoin but transaction is done through payment gateways that will automatically convert BTC into fiat or stable coin. It's like the companies are paying their taxes using BTC but Government receives them in the form of fiat. No difference.
They don't necessarily need to have a custom gateway for that. I believe most payment processors (including open source ones), allow merchants to add a plugin that automatically converts their crypto into fiat as of now, CMIIW. If a government legalizes crypto payments, I think they'll just hold the crypto because it implies decreased volatility. I can still see him selling once a week or so though.
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I can imagine Government agencies accepting bitcoin but transaction is done through payment gateways that will automatically convert BTC into fiat or stable coin. It's like the companies are paying their taxes using BTC but Government receives them in the form of fiat. No difference.
They don't necessarily need to have a custom gateway for that. I believe most payment processors (including open source ones), allow merchants to add a plugin that automatically converts their crypto into fiat as of now, CMIIW. If a government legalizes crypto payments, I think they'll just hold the crypto because it implies decreased volatility. I can still see him selling once a week or so though.
Yes, but I do think that government will not used those payment processors, instead developed their own or at least have their own wallet just like what El Salvador did.
But it's good of government are going to accept BTC, I mean there are more benefits to it and obviously, the adoption that we are looking for. And it makes BTC very reliable to many specially those who are against it.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Yes, Actually I think that if all countries can reserve bitcoin it will be very helpful for them. Because we know that many countries could be reserve bitcoin for there future asset. So I believe that when cryptocurrency market go up bull market, then those countries could be remove poverty soon. But when we want to invest or reserve bitcoin, we should trying to understand in cryptocurrency market, because we know that cryptocurrency market is always depending on up and down. So in this situation crypto knowledge is very important for earn best profit from cryptocurrency market.
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Mass adoption for cryptocurrencies across countries would be very good for the market, that's what every crypto community wants but a lot will be educated about it getting rid of blockchain illiteracy
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Bitcoin as a national and state reserve is good if done wisely.
This. But seems the IMF is choking every country who get loans from them though they have rules and policies to follow I am just wondering why they do that? Is it because there is a high risk that Bitcoin will crash and El Salvador will not be able to pay that loan? Or is there a hidden agenda IMF is trying to make it happen or in control of?
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Accepting of bitcoin for use is what should be a global phenomenon whereby all countries are going to see beyond just an ordinary digital currency or crypto, but the demands from what the people want and the reason behind why everyone has always been more committed to it use, i don't know why some are still inconclusive about their decision on accepting bitcoin as a legitimate digital currency for making payments.
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Accepting of bitcoin for use is what should be a global phenomenon whereby all countries are going to see beyond just an ordinary digital currency or crypto, but the demands from what the people want and the reason behind why everyone has always been more committed to it use, i don't know why some are still inconclusive about their decision on accepting bitcoin as a legitimate digital currency for making payments.
Until governments legalize Bitcoin, it will not be possible to accept Bitcoin as a global currency. Certainly, if Bitcoin is made a global currency, then the benefits that the world will get are not available in conventional currencies. If it can be considered as a payment method worldwide, then Bitcoin is the most suitable platform there. However, the positive side is that although Bitcoin is not considered a fast payment method, in the future we will definitely see it at that level. It takes time for this. Many governments opposed Bitcoin but they are gradually moving towards that position. In the future, Bitcoin will definitely be known as a means of global payment.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
The questions in the topic are different from the topic title. I think I want to answer both questions because they're both interesting and open up many valuable discussions.
We'll talk about El Salvador, the first country in the world to adopt BTC. People have the right to use BTC in payments, and the government also mines and accumulates BTC itself. The results show they've been quite successful with this BTC strategy.
However, the truth is that people aren't yet in the habit of using BTC for payments. The value that BTC brings isn't the convenience of transactions and cash flow, but marketing for tourism and investment services in El Salvador. The crypto community is more interested in the El Salvador government action of buying 1 BTC per week than in the state of BTC usage in the economy.
I support governments strategically accumulating and reserving BTC so as not to be left behind in this financial wave. Using BTC for payments can be considered and requires a long process to assess its impact on fiat and the entire economy. Stablecoins may be a better choice for payments, as people are already used to pricing everything in fiat.
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I can't imagine if every country in the world bought Bitcoin for reserves, the price of Bitcoin would definitely skyrocket. But if you look at the development of Bitcoin from the beginning until now, there are still many debates that maybe that won't happen. There will definitely be countries that support Bitcoin, and vice versa.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Bitcoin is a legal currency in many countries, but a company or a business has to think about many things before accepting payments in Bitcoin, because Bitcoin is a volatile currency. Therefore, when a business accepts Bitcoin as payment from a customer, if they hold that Bitcoin for a long time, they will lose if the price of Bitcoin decreases, and they will gain if the price increases. However, stable coins are much more important for running a business and for proper accounting. And for this reason, although Bitcoin is legal currency in many countries, not all companies are usually seen accepting Bitcoin as payment.
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I believe that if all countries owned a strategic reserve of Bitcoin, it would be very good for Bitcoin. This would increase confidence in Bitcoin and lead to its global spread.
However, we must, of course, differentiate between using Bitcoin as a reserve and using it as a means of everyday payment. Using Bitcoin as a reserve has become a requirement for most governments, especially the United States, but using Bitcoin as a means of payment is currently impractical due to numerous problems.
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...Using Bitcoin as a reserve has become a requirement for most governments, especially the United States, but using Bitcoin as a means of payment is currently impractical due to numerous problems.
Using Bitcoin as a payment method has both advantages and disadvantages, and whether it is "impractical" depends on the context. One of the disadvantages is slow confirmation, and high tx fees while advantages are its censorship-resistant which anyone can use it and can send without limit unlike traditional bank transfer where there is a maximum limit.
So if where talking it as means if daily payment for smaller or bigger stores i guess it's not worth it, especially if fees are higher than the actual amount so it should only be considered as an option for payment and cash should be primarily use.
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I believe that if all countries owned a strategic reserve of Bitcoin, it would be very good for Bitcoin. This would increase confidence in Bitcoin and lead to its global spread.
However, we must, of course, differentiate between using Bitcoin as a reserve and using it as a means of everyday payment. Using Bitcoin as a reserve has become a requirement for most governments, especially the United States, but using Bitcoin as a means of payment is currently impractical due to numerous problems.
Time marches on - and so is the adoption of BTC.
And the earlier other countries will hop on, the earlier we will go to the next stage in the evolution of BTC ;)
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I can't imagine if every country in the world bought Bitcoin for reserves, the price of Bitcoin would definitely skyrocket. But if you look at the development of Bitcoin from the beginning until now, there are still many debates that maybe that won't happen. There will definitely be countries that support Bitcoin, and vice versa.
Though if all the countries will do as the United States of America in using Bitcoin the way they are doing then Bitcoin price will be good as flying because is not a small impact it will make to Bitcoin and those who has already bought will be on a very profiting room, that's why even if so many countries has not think about Bitcoin reserve, who knows if their decision will change in the future because if people that hate Bitcoin are now competing for Bitcoin investment then anything is possible in the future of acceptance of Bitcoin reserve.
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Two samples are not enough... even the US has not provided real results for the reserve fund using Bitcoin... we know that El Salvador is indeed a fairly large country, but its economic ranking cannot be strong data for other countries to start adopting Bitcoin (maybe)... yes, I know, you really want Bitcoin to be adopted by all countries in the world and start making a profit from the price increase... but behind all that there are still many obstacles that must be overcome... yes, the attitude of each government is different, making it difficult to realize... so in my opinion it is very unlikely that BTC will become a currency that is legalized by all governments in the world....
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I can't imagine if every country in the world bought Bitcoin for reserves, the price of Bitcoin would definitely skyrocket. But if you look at the development of Bitcoin from the beginning until now, there are still many debates that maybe that won't happen. There will definitely be countries that support Bitcoin, and vice versa.
It'd actually quite normal for Bitcoin not be accepted by everyone or every country, I mean that's basically what life itself is about as there are definitely going to be haters of something good, no matter how efficient or good that project may turn out to be because that's human nature. Bitcoin is already stamping it's ground in the world of financial and only the few or multitude that know it's value will benefit and one of the many is El Salvador and I believe with time coming maybe many may follow in the steps.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Every country having a Bitcoin reserve funds is not a bad idea but it is not just about having the reserve funds for Bitcoin investment, will the government have a long term perspective towards Bitcoin investment in the future. Bitcoin investment is not a get rich quick scheme, like you said about El Salvador, it takes them years to achieve their goals. So the point is if the government have decided to invest in Bitcoin with their reserve funds, can they be patient for long term investment?
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Using Bitcoin as a payment method has both advantages and disadvantages, and whether it is "impractical" depends on the context. One of the disadvantages is slow confirmation, and high tx fees while advantages are its censorship-resistant which anyone can use it and can send without limit unlike traditional bank transfer where there is a maximum limit.
Banks are also very slow and they usually don't work at weekends and during the night.
This is especially important if you want to send money abroad to other countries, not to mentioned you could be asked many questions and explanations why you are sending or receiving money.
Problem is that regulators are trying to make bitcoin work in similar way with centralized services and exchanges :P
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I can't imagine if every country in the world bought Bitcoin for reserves, the price of Bitcoin would definitely skyrocket. But if you look at the development of Bitcoin from the beginning until now, there are still many debates that maybe that won't happen. There will definitely be countries that support Bitcoin, and vice versa.
Sure, if there are many countries which already decide to have Bitcoin reserves, it will trigger the price of Bitcoin to increase very significantly. Since US have decided to have crypto reserves, I think it is not impossible that most countries in the world to have their Bitcoin reserves. Bitcoin has developed much now, its adoption is getting bigger. I'm quite optimistic with Bitcoin future, it will be more expensive in the future.
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Problem is that regulators are trying to make bitcoin work in similar way with centralized services and exchanges :P
It's becoming a trend now, and it's only getting worse. The so called "mainstream adoption" of Bitcoin heavily depends on regulatory actions and government decisions. As regulations tighten or evolve, it directly impact how Bitcoin is perceived, used, and integrated.
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Problem is that regulators are trying to make bitcoin work in similar way with centralized services and exchanges :P
It's becoming a trend now, and it's only getting worse. The so called "mainstream adoption" of Bitcoin heavily depends on regulatory actions and government decisions. As regulations tighten or evolve, it directly impact how Bitcoin is perceived, used, and integrated.
I do agree, everything boils down on regulations, if countries are going to tighten their regulations then obviously we might not get into that mainstream adoption that we wanted to.
So I guess still this is going to be the trend, but hopefully, many countries who are still in the grey area, will accept crypto so that everyone should enjoy it and it really serves a lot of purpose to us not just means of payment, but obviously as a investment instrument.
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Similar to what others said, I'm not a big fan of Bitcoin becoming a legal tender, meaning merchants being forced to accept bitcoins even if they don't want to. In some jurisdictions this wouldn't be much of an issue, i.e. where legal tender only exists in relation to settlements of debt, so when there's no debt involved, merchants are free to accept/not-accept any type of payments - but I'd still prefer Bitcoin to be 100% voluntary and not forced on anyone.
I don't oppose the concept of countries/states having strategic Bitcoin reserve. I think that's reasonable if it's not out of proportions.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Where did you learn that they paid off all their debts, because recently they changed their BTC policy just to get more loans from the IMF and they stopped buying 1 BTC everyday? The point is they did not pay all of their debt just because of BTC, but I do agree that their economy is growing because they adopted BTC! No, they were doing many other things too.
Covid made things a lot worse for all of us. Speaking of BTC in our country reserves, it would be a good thing for all of us, I mean, they are reserving gold, US dollars, and other assets to diversify their investments so in hard times they won't get affected by one, so why not reserve BTC too.
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Similar to what others said, I'm not a big fan of Bitcoin becoming a legal tender, meaning merchants being forced to accept bitcoins even if they don't want to. In some jurisdictions this wouldn't be much of an issue, i.e. where legal tender only exists in relation to settlements of debt, so when there's no debt involved, merchants are free to accept/not-accept any type of payments - but I'd still prefer Bitcoin to be 100% voluntary and not forced on anyone.
I don't oppose the concept of countries/states having strategic Bitcoin reserve. I think that's reasonable if it's not out of proportions.
I agree, it shouldn't be enforced.
Volanturary inclusion into the means of payment - sure thing, great way for some to implement BTC in their day-to-go operations, but as "implement and there is no other way around" - that's not what BTC is about.
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I can't imagine if every country in the world bought Bitcoin for reserves, the price of Bitcoin would definitely skyrocket. But if you look at the development of Bitcoin from the beginning until now, there are still many debates that maybe that won't happen. There will definitely be countries that support Bitcoin, and vice versa.
Mate, things take time, and in my opinion, those countries that are not supporting Bitcoin today will also start to support it comming tomorrow! Things change over time, points of view change over time, and indeed every country's POV will change about Bitcoin power in the future when they will observe its power. There is a famous saying in the coding world that there is always a loophole in every system, and indeed, for now, there may also be some minor gaps here as well, that may fill over time.
So in short, mate, there is no big deal about bitcoin for now; you will also see the changing developments you want, hopefully! Because we should at least hope for the best! What do you think, dear?
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Do you think every country should have a Bitcoin reserve?
Yes, it can or can't, in my opinion it depends on the level of readiness of the country that will use BTC as their financial reserve, although I am not an economic expert, but if you look at the unstable price of bitcoin, then for poor countries I don't think it will have an impact
and for payment instruments I don't think it is necessary where btc is only an alternative, not the main one, where fiat is better than bitcoin if it is for payment because fiat is the typical currency of each country
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Yea it is a good thing for countries to do but you know what, not all country leaders reason think the same, the financial gains plan and gains made by some countries depends on how intelligent and financially included their leaders and economic team are, ordinarily citizens of many countries are ready to embrace new things in form of assets or store of wealth but the problem they have been encountering is the government policies which has been a set back, as for El Salvador, I think their president saw an opportunity in Bitcoin and embraced it when other countries saw it am a threat to their financial system because of reason best known to them, today we can see what El Salvador has achieved with this decision of their president, am happy that trump is a man that understands what digital asset is, his decision towards cryptocurrency (Bitcoin) may reshape the entire crypto space as time goes by.
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I can't imagine if every country in the world bought Bitcoin for reserves, the price of Bitcoin would definitely skyrocket. But if you look at the development of Bitcoin from the beginning until now, there are still many debates that maybe that won't happen. There will definitely be countries that support Bitcoin, and vice versa.
Sure, if there are many countries which already decide to have Bitcoin reserves, it will trigger the price of Bitcoin to increase very significantly. Since US have decided to have crypto reserves, I think it is not impossible that most countries in the world to have their Bitcoin reserves. Bitcoin has developed much now, its adoption is getting bigger. I'm quite optimistic with Bitcoin future, it will be more expensive in the future.
If this happens of course we will be very lucky, because we already know and have Bitcoin earlier than most people later. If many countries accept Bitcoin, of course this will be very hype and many new people will come in and invest in Bitcoin.
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Do you think every country should have a Bitcoin reserve?
Yes, it can or can't, in my opinion it depends on the level of readiness of the country that will use BTC as their financial reserve, although I am not an economic expert, but if you look at the unstable price of bitcoin, then for poor countries I don't think it will have an impact
and for payment instruments I don't think it is necessary where btc is only an alternative, not the main one, where fiat is better than bitcoin if it is for payment because fiat is the typical currency of each country
because the price of bitcoin is still fluctuating, it seems that bitcoin is not yet suitable to be a means of payment. but bitcoin is already suitable as an investment and possibly as a strategic reserve fund.
I agree that every country accepts bitcoin as an investment, because with the increasing popularity of bitcoin it can become a payment method in the future.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
Bitcoin was not created to go against the government and banks, rather it was created to serve as an alternative to fiat. So, it is at the court of the government to allow bitcoin co-exist with fiat just like the El Salvador you cited below.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
As hugeblack noted above, I think it is more beneficial to the bitcoin if countries hold it as a national reserve instead of approving it as a legal tender.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
Bitcoin was not created to go against the government and banks, rather it was created to serve as an alternative to fiat. So, it is at the court of the government to allow bitcoin co-exist with fiat just like the El Salvador you cited below.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
As hugeblack noted above, I think it is more beneficial to the bitcoin if countries hold it as a national reserve instead of approving it as a legal tender.
Yeah bitcoin was created with the aim of serving as an alternative but most government still see bitcoin as a threat to their economy, but how true is that? Personally u believe the only reason some government had not accepted bitcoin in their country, is because they think they are actually saving their citizens from a volatile market which may lead to loses but in actual sense they are only depriving their citizens from an innovative technology that could change their lifes. As far as I know, bitcoin is not a threat to any country's economy but rather a savior to holding your funds in depreciating economy in times of inflation.
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Yeah bitcoin was created with the aim of serving as an alternative but most government still see bitcoin as a threat to their economy, but how true is that? Personally u believe the only reason some government had not accepted bitcoin in their country, is because they think they are actually saving their citizens from a volatile market which may lead to loses but in actual sense they are only depriving their citizens from an innovative technology that could change their lifes. As far as I know, bitcoin is not a threat to any country's economy but rather a savior to holding your funds in depreciating economy in times of inflation.
Hello mate!
Your government do not care so much about you, they do not wish that you become so much rich that you don't depend on them anymore. Wake up from your slumber, they will tell you that they want to protect you from Bitcoin volatility, that's fallacy
They simply want you to keep using the fiat such that they will be able to tax you to the last dime. They want you to be at their mercy such that whenever inflation comes they print more fiat for themselves and you will be the one to suffer the repercussions. Government of some countries just started welcoming bitcoin since they understood that day bitcoin network is so transparent that they can trace or transaction and the people could hardly avoid tax. This is why they are now clamping so hard on decentralized exchanges and the mixers because these are the routes we could use to avoid them. Be wise!
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Hello mate!
Your government do not care so much about you, they do not wish that you become so much rich that you don't depend on them anymore. Wake up from your slumber, they will tell you that they want to protect you from Bitcoin volatility, that's fallacy
They simply want you to keep using the fiat such that they will be able to tax you to the last dime. They want you to be at their mercy such that whenever inflation comes they print more fiat for themselves and you will be the one to suffer the repercussions. Government of some countries just started welcoming bitcoin since they understood that day bitcoin network is so transparent that they can trace or transaction and the people could hardly avoid tax. This is why they are now clamping so hard on decentralized exchanges and the mixers because these are the routes we could use to avoid them. Be wise!
Lol, so accurate, and it's not only about taxes but they want to have control over people's finances and financial transactions because with traditional financial systems, they can easily do that since they know everything as you use their banks, payment apps, and everything requires KYC from you, so they know it's you and how much money you have, how you spend it, and how much you receive, etc.
With Bitcoin and cryptocurrencies, this thing isn't possible because people can easily bypass this my using non-custodial wallets to store their assets and as long as they are not using KYCed services, the government wouldn't be able to identify whose wallet it is because it wouldn't have any traces or identification.
So, they don't want to lose control is the basic reason why they are always against Bitcoin and cryptocurrencies.
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You can't say it is not a good thing because accepting bitcoin is a choice and not a compulsory to do. But adopting bitcoin a country to buy things and pay for services is the main reason to f Satoshi Nakamoto creation of bitcoin but we have converted it to purchase it and hodle it foe years to come.
Id bitcoin was use to buy things and pay for services then the cost of it wouldn't be as this high and the circulation would have been good.
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Hello mate!
Your government do not care so much about you, they do not wish that you become so much rich that you don't depend on them anymore. Wake up from your slumber, they will tell you that they want to protect you from Bitcoin volatility, that's fallacy
They simply want you to keep using the fiat such that they will be able to tax you to the last dime. They want you to be at their mercy such that whenever inflation comes they print more fiat for themselves and you will be the one to suffer the repercussions. Government of some countries just started welcoming bitcoin since they understood that day bitcoin network is so transparent that they can trace or transaction and the people could hardly avoid tax. This is why they are now clamping so hard on decentralized exchanges and the mixers because these are the routes we could use to avoid them. Be wise!
Lol, so accurate, and it's not only about taxes but they want to have control over people's finances and financial transactions because with traditional financial systems, they can easily do that since they know everything as you use their banks, payment apps, and everything requires KYC from you, so they know it's you and how much money you have, how you spend it, and how much you receive, etc.
With Bitcoin and cryptocurrencies, this thing isn't possible because people can easily bypass this my using non-custodial wallets to store their assets and as long as they are not using KYCed services, the government wouldn't be able to identify whose wallet it is because it wouldn't have any traces or identification.
So, they don't want to lose control is the basic reason why they are always against Bitcoin and cryptocurrencies.
I wonder why people are yet to realise the truth;
I wonder why people think the government care about them so much;
It is you Vs the world (government inclusive).
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If this happens of course we will be very lucky, because we already know and have Bitcoin earlier than most people later. If many countries accept Bitcoin, of course this will be very hype and many new people will come in and invest in Bitcoin.
US already has Bitcoin reserve and many countries already accept Bitcoin, but now the price of Bitcoin is declining a lot. Sometimes, we can't expect much for the Bitcoin price increase because there are too many factors that influence the price. I don't hear any FUDs but Bitcoin price still decreases significantly. Even, we are in the bullrun season but Bitcoin chart looks like a bearish season. There is no hype anymore, bro. We see the red market and people feel afraid now.
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I wonder why people are yet to realise the truth;
I wonder why people think the government care about them so much;
It is you Vs the world (government inclusive).
When most would be betrayed by the govs at one point, probably.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
Bitcoin was not created to go against the government and banks, rather it was created to serve as an alternative to fiat. So, it is at the court of the government to allow bitcoin co-exist with fiat just like the El Salvador you cited below.
It is precisely this alternative role that may make governments and banks feel threatened... we can see that Bitcoin has many differences compared to FIAT, and who doesn't feel challenged, seeing the development of Bitcoin and other cryptocurrencies become very rapid like this...
Yes, although Bitcoin does not aim to overthrow banks, banks feel that there is a threat coming when Bitcoin and cryptocurrencies grow... don't you think so?
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It is precisely this alternative role that may make governments and banks feel threatened... we can see that Bitcoin has many differences compared to FIAT, and who doesn't feel challenged, seeing the development of Bitcoin and other cryptocurrencies become very rapid like this...
Yes, although Bitcoin does not aim to overthrow banks, banks feel that there is a threat coming when Bitcoin and cryptocurrencies grow... don't you think so?
They just don't welcome changes warmly.
If they thought it is a threat, they would do all they see fit to control the network themselves. And the funds they possess are far more than what an ordinary man can count.
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I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
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I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
Bitcoin is not ready to be used as a currency - as a store of value, for reserves - yeah, it's alright to take that role.
I do hope your country will adopt BTC earlier than we expect.
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Bitcoin is not ready to be used as a currency - as a store of value, for reserves - yeah, it's alright to take that role.
I do hope your country will adopt BTC earlier than we expect.
Why should it be earlier in terms of Bitcoin adoption? It's not even about which country adopts bitcoin first, it takes some calculations that calculate all the possibilities in its adoption... I think all countries are still monitoring the development of Bitcoin and cryptocurrency to be truly accepted... at least they also need samples so they can develop the cryptocurrency field for their respective countries....
Making it a currency is indeed impossible, but making BTC a hedge asset is very possible... so there is still a possibility for BTC to play a role in government in the future... even though it is not an alternative currency, it can be an alternative stock investment...
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I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
Meaning that in your country cryptocurrency has not yet been declared a legal asset, right? As you are saying, you have heard of it but not yet confirmed. For full confirmation, you need to see an official bill that may have passed in your country's assembly by your government. In our country, the government has passed that bill and made it totally legal tender, and I was reading the news headline yesterday that Pakistan has appointed the Binance X-CEO as a strategic crypto advisor.
And as a means of payment, Russia, China, and some other countries are already using Bitcoin for their trades, which also bolsters its popularity in the global market. What do you think of it?
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Accepting Bitcoin as a legal tender may not give results and increases such as countries/companies allocating 5% of their profits to buy Bitcoin...
Buying and selling of Bitcoin is the mechanism that has kept its value considerably this high that we've seen it. It's not hodling it like it would be when nations buy for long term investment. I believe taking 5% out as suggested to put on Bitcoin periodically won't be a bad idea. If anything, it will help boost the confidence level of those who have the habit on tracing onchain transactions that activities are going on. That will help encourage more trading activities in that regards on that project, whether it's Bitcoin or any other cryptos. Mass acceptance of Bitcoin as a legal tender will give it more weight than the periodic percentile of buying and hodling of it.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
As the nature of Bitcoin and crypto currencies are decentralized, which is not supposed to be part of the government policy, centralization had to play in to fill that gap, giving the government a chance to be into the crypto space, which doesn't really affect anything much. It is a good thing for countries to take Bitcoin as reserve, which could help in the growth and development of the country's financial economic strength, though, with the fluctuating price movement of Bitcoin and crypto currencies, I don't think it is good for it to be used as legal tender, but as a store of value.
Most countries have still not accepted the legal use of Bitcoin, and which is still a setback to mass adoption of Bitcoin. Only developed and recognized countries around the world that knows the financial benefits that can be acquired from Bitcoin reserve that has lifted the ban against Bitcoin and made it a legal tender for its citizens.
It is a right thing that countries should take Bitcoin for reserve, and other top promising coins for the long run, cause the future is very bright for all digital currencies that will exist.
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Bitcoin is not ready to be used as a currency - as a store of value, for reserves - yeah, it's alright to take that role.
I do hope your country will adopt BTC earlier than we expect.
Why should it be earlier in terms of Bitcoin adoption? It's not even about which country adopts bitcoin first, it takes some calculations that calculate all the possibilities in its adoption... I think all countries are still monitoring the development of Bitcoin and cryptocurrency to be truly accepted... at least they also need samples so they can develop the cryptocurrency field for their respective countries....
Making it a currency is indeed impossible, but making BTC a hedge asset is very possible... so there is still a possibility for BTC to play a role in government in the future... even though it is not an alternative currency, it can be an alternative stock investment...
I agree with you, bitcoin can hedge our assets, this is what makes big investors hold bitcoin for the long term. Whoever owns bitcoin earlier will get higher profits.
although bitcoin is currently owned by many people, I am still sure there are early investors who still hold bitcoin that they bought at a low price in the past.
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If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy,
El Salvador are still dependent on the imf, they still run to them for loans and the imf gives them conditions before grating them loans. Nothing much has changed for their economy as well. I don't see why every country should have a BTC reserve, what i hope for is for BTC to be used as a means of payment in every country and widely adopted.
Very true. If El Salvador who took the lead in holding bitcoin as a national asset still do not have a vibrant economy, then my guess is, it may not be a step in the right direction. The Government of El Salvador went as far as offering incentives of $30 each to its citizens all in a bid to get them to accept the use of bitcoin but only a fraction did subscribe to its use. it perhaps can serve other vibrant purposes in a nation but not national reserve particularly not at this point in time.
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Bitcoin is not ready to be used as a currency - as a store of value, for reserves - yeah, it's alright to take that role.
I do hope your country will adopt BTC earlier than we expect.
Why should it be earlier in terms of Bitcoin adoption? It's not even about which country adopts bitcoin first, it takes some calculations that calculate all the possibilities in its adoption... I think all countries are still monitoring the development of Bitcoin and cryptocurrency to be truly accepted... at least they also need samples so they can develop the cryptocurrency field for their respective countries....
Making it a currency is indeed impossible, but making BTC a hedge asset is very possible... so there is still a possibility for BTC to play a role in government in the future... even though it is not an alternative currency, it can be an alternative stock investment...
I agree with you, bitcoin can hedge our assets, this is what makes big investors hold bitcoin for the long term. Whoever owns bitcoin earlier will get higher profits.
although bitcoin is currently owned by many people, I am still sure there are early investors who still hold bitcoin that they bought at a low price in the past.
Bitcoin is a perfect example of the impact of an innovation in the handling of our monetary affairs. Large institutional investors have decided to invest in Bitcoins due to its scarcity and its role of preserving the value of the investors’ money. As it can be seen, those people who invested in Bitcoins earlier are counting great gains, which is connected with the fact that the price of Bitcoin was significantly lower some time ago. This is in spite of the fact that each day, more individuals and companies are effectively becoming Bitcoin owners, there are those who initially invested in the asset and still hold them with high expectations of good returns. It has been evidenced from the sensitiveness of Bitcoin to various market conditions and its ability to survive stresses that the decision to hold the foreign currency was not hasty.
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- It depends on the leader of a country, if the president or prime minister doesn't care about blockchain technology, obviously bitcoin adoption as a mode of payment will not happen in their territories. This is when their minds are closed to this matter.
Especially if the leaders of each country have different priorities, but if a country or government of the country is open, it will not be difficult to accept or implement it in their country for sure.
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- It depends on the leader of a country, if the president or prime minister doesn't care about blockchain technology, obviously bitcoin adoption as a mode of payment will not happen in their territories. This is when their minds are closed to this matter.
Especially if the leaders of each country have different priorities, but if a country or government of the country is open, it will not be difficult to accept or implement it in their country for sure.
thats right it all depends on the country's leader in seeing crypto especially bitcoin, if they don't support bitcoin of course bitcoin will not be well received in the country.
Maybe they don't have a good understanding of crypto, but each country has its own considerations. and currently I see many governments of a country that have accepted crypto. even though they have not allowed it for payment methods
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I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
Bitcoin is not ready to be used as a currency - as a store of value, for reserves - yeah, it's alright to take that role.
I do hope your country will adopt BTC earlier than we expect.
Our country does not want to be hurried to adopt Bitcoin as a reserve fund because it has to go through various rules in our country regarding the digital financial system.
I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
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In our country, the government has passed that bill and made it totally legal tender, and I was reading the news headline yesterday that Pakistan has appointed the Binance X-CEO as a strategic crypto advisor.
That means your country in Pakistan is very confident in Bitcoin to make a reserve fund and I think your country Pakistan is very brave to take risks to Bitcoin which is used as a reserve fund. Amazing!
And as a means of payment, Russia, China, and some other countries are already using Bitcoin for their trades, which also bolsters its popularity in the global market. What do you think of it?
If it is true that the Russian and Chinese countries use Bitcoin as a means of payment, then it is definitely very appreciated. Russia and China have become pioneers in all businesses, especially in this cryptocurrency business.
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I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
Bitcoin is not ready to be used as a currency - as a store of value, for reserves - yeah, it's alright to take that role.
I do hope your country will adopt BTC earlier than we expect.
Our country does not want to be hurried to adopt Bitcoin as a reserve fund because it has to go through various rules in our country regarding the digital financial system.
As everywhere, I believe, some just want to make it happen faster than others, and some legal systems are truly a mess.
As it was said, I hope it will happen eventually.
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Do you think every country should have a Bitcoin reserve?
Yes, it can or can't, in my opinion it depends on the level of readiness of the country that will use BTC as their financial reserve, although I am not an economic expert, but if you look at the unstable price of bitcoin, then for poor countries I don't think it will have an impact
and for payment instruments I don't think it is necessary where btc is only an alternative, not the main one, where fiat is better than bitcoin if it is for payment because fiat is the typical currency of each country
because the price of bitcoin is still fluctuating, it seems that bitcoin is not yet suitable to be a means of payment. but bitcoin is already suitable as an investment and possibly as a strategic reserve fund.
I agree that every country accepts bitcoin as an investment, because with the increasing popularity of bitcoin it can become a payment method in the future.
Yes, certain payment methods such as online shopping do not apply to payments on the spot or face to face because this will damage the circulation of money in my opinion.
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That means your country in Pakistan is very confident in Bitcoin to make a reserve fund and I think your country Pakistan is very brave to take risks to Bitcoin which is used as a reserve fund. Amazing!
Haha, whenever anything is executed at the national level, it is not like someone suggested it and it had sudden implementation in the system. Everything is done in a well-managed way, with proper separate teamwork on that specific field before its execution, and it is called risk management. Well, I am still waiting to see the Binance X-CEO as an advisor role, like what kind of plan he is going to implement in all that.
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I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
- In order to create bitcoin reserves in a country, the leader of the country must be open-minded about this matter and study and learn about it. Because if the leader has no interest, let's not expect them to make Bitcoin a bitcoin reserve in their country like gold.
Look at what Trump did, it was easy for him to make it a bitcoin reserve in the country he leads through his executive order as president.
But if you are not the president, it will be difficult to do this in a country.
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I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
- In order to create bitcoin reserves in a country, the leader of the country must be open-minded about this matter and study and learn about it. Because if the leader has no interest, let's not expect them to make Bitcoin a bitcoin reserve in their country like gold.
Look at what Trump did, it was easy for him to make it a bitcoin reserve in the country he leads through his executive order as president.
But if you are not the president, it will be difficult to do this in a country.
I agree with you if the president or leader of a country supports crypto, then they can decide to buy bitcoin as a strategic reserve fund. Like what Triump did. but I also believe that some developed countries already have bitcoin even though it is not exposed.
because there are many advantages of bitcoin, it can provide a hedge for our assets.
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I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
- In order to create bitcoin reserves in a country, the leader of the country must be open-minded about this matter and study and learn about it. Because if the leader has no interest, let's not expect them to make Bitcoin a bitcoin reserve in their country like gold.
Look at what Trump did, it was easy for him to make it a bitcoin reserve in the country he leads through his executive order as president.
But if you are not the president, it will be difficult to do this in a country.
It is not an easy thing to add Bitcoin as part of the nation’s reserve due to the need for a visionary leader with a clear understanding of the blockchain technology as well as the future opportunities it holds in the economic field. This implies that when a leader has no interest in or does not comprehend the possibility of adoption of crypto currency, it is challenging to make the policy to take effect. However, making Bitcoin a nation’s reserve seems to be very much influenced by the political position of an executive as the case may reflect with Trump. Thus, for those who do not possess direct power, the promotion of this idea on a national level is a rather difficult task.
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That means your country in Pakistan is very confident in Bitcoin to make a reserve fund and I think your country Pakistan is very brave to take risks to Bitcoin which is used as a reserve fund. Amazing!
....
Well, I am still waiting to see the Binance X-CEO as an advisor role, like what kind of plan he is going to implement in all that.
That means, Pakistan has not fully made Bitcoin a reserve fund?
I think it could be an option for a country to make Bitcoin a reserve asset.
Logically, getting Bitcoin is very difficult and maybe some of them are by Mining and Mining also requires expensive equipment.
In our country in Indonesia, we have never heard of our government implementing Bitcoin as a reserve asset but for cryptocurrency trading taxes it does exist.
Maybe not for now but someday there will be a Bitcoin reserve asset and this is just my guess for Indonesia.
.....
Look at what Trump did, it was easy for him to make it a bitcoin reserve in the country he leads through his executive order as president.
But if you are not the president, it will be difficult to do this in a country.
Our country Indonesia is a Republic type, as far as I know the President is waiting for proposals from various parties such as each ministry and members of the people's consultative council to formalize a letter like Bitcoin Reserve.
If you compare it with Donald Trump for his Bitcoin Reserve policy in the US, it must not be much different, but I don't know how deep the involvement of members of the council, senators, people's consultative council, ministries in the US is like.
This is clearly very different from our country in Indonesia which has to review several times to make Bitcoin a reserve fund.
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I agree with you if the president or leader of a country supports crypto, then they can decide to buy bitcoin as a strategic reserve fund. Like what Triump did. but I also believe that some developed countries already have bitcoin even though it is not exposed.
because there are many advantages of bitcoin, it can provide a hedge for our assets.
These advantages were especially noticeable during the bearish trend a few years ago. However, when investing in Bitcoin, you should understand that it can collapse and quite significantly. And how can you then explain to people where their money went? Therefore, it is not entirely reasonable to just jump into it head first. A reasonable approach should be taken to everything. You should not rush and immediately start accumulating coins in the country's reserve. Yes, you need to have some amount, but do not buy Bitcoin with the money that should be spent on social needs.
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That means your country in Pakistan is very confident in Bitcoin to make a reserve fund and I think your country Pakistan is very brave to take risks to Bitcoin which is used as a reserve fund. Amazing!
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Well, I am still waiting to see the Binance X-CEO as an advisor role, like what kind of plan he is going to implement in all that.
That means, Pakistan has not fully made Bitcoin a reserve fund?
The news that I shared with you is only maybe 2 or 3 days old hardly, when the Pakistani government declared X-CEO of Binance CZ as its role of strategic crypto advisor. So, how can anything be implemented in a hurry? For the best management, one should have a better plan so that they can see better results in the coming days. The team must be working on it for better execution to get good results at the end of the day.
You did not tell me about your country like I asked you in the first interaction of my post. Has your country legalized Bitcoin as a digital currency? Or are you confused about that, mate?
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Every country deserve to have a bitcoin reserve, it's a wise investment decision any country can make since over the years, we have all seen that bitcoin can be completely trusted regardless of how volatile or unstable the prices seems to be.
But all the same, it's commonly said that there is no hurry in life, bitcoin is sure here to stay and it's up to this countries to adopt it, the ones that do it the earliest will enjoy better profit than the ones who are waiting for other countries to do it first, we have seen a good example with El Salvador.
And it's also very gladdening seeing that the US government are also making moves to creating their own bitcoin reserve, I believe that the US succeeds in achieving this, alot of countries that look up to US will also follow suit.
But again, regardless of what happens, bitcoin is here and it's here to stay, many have believed bitcoin to be the digital gold.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
Every country deserve to have a bitcoin reserve, it's a wise investment decision any country can make since over the years, we have all seen that bitcoin can be completely trusted regardless of how volatile or unstable the prices seems to be.
But all the same, it's commonly said that there is no hurry in life, bitcoin is sure here to stay and it's up to this countries to adopt it, the ones that do it the earliest will enjoy better profit than the ones who are waiting for other countries to do it first, we have seen a good example with El Salvador.
And it's also very gladdening seeing that the US government are also making moves to creating their own bitcoin reserve, I believe that the US succeeds in achieving this, alot of countries that look up to US will also follow suit.
But again, regardless of what happens, bitcoin is here and it's here to stay, many have believed bitcoin to be the digital gold.
El Salvador is indeed a pioneer who dares to adopt bitcoin first and allows bitcoin for payment methods. El Salvador has already bought bitcoin as a reserve fund. This is what makes El Salvador have a higher advantage than other countries. And Trump has taken the right step by supporting bitcoin, because bitcoin has been predicted to have a bright future. Countries that have not supported bitcoin will be left behind, we'll just have to wait and see.
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Do you think every country should have a Bitcoin reserve?
It should have been a very good idea but not all countries can adopt this establishment. The US government saw the bigger picture on the positive side of this establishment, so also the El Salvador government and other countries that's sorting for the positivity.
While other countries are viewing the bigger picture from the negative angle, seeing it's decentralized nature as a threat and it's volatility a disadvantage for national integration.
So while most countries looks at it's positivity, others are seeing it's negativity and some are just being startled considering to either join or forfeit this development.
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El Salvador is indeed a pioneer who dares to adopt bitcoin first and allows bitcoin for payment methods. El Salvador has already bought bitcoin as a reserve fund. This is what makes El Salvador have a higher advantage than other countries. And Trump has taken the right step by supporting bitcoin, because bitcoin has been predicted to have a bright future. Countries that have not supported bitcoin will be left behind, we'll just have to wait and see.
While El Salvador is using Bitcoin as their reserve currency, there are still many countries where Bitcoin has not been legalized. In my own homeland, Bitcoin has not yet been recognized as a legal currency. So this shows how far ahead El Salvador is in terms of technology and technical aspects. Bitcoin will start to be used by the whole world in the future, but the countries that have already recognized Bitcoin and are using it as a legal currency will be the most advanced economically and in terms of various technical aspects at that time because the people of those countries are already getting used to using Bitcoin and other cryptos.
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Do you think every country should have a Bitcoin reserve?
It should have been a very good idea but not all countries can adopt this establishment. The US government saw the bigger picture on the positive side of this establishment, so also the El Salvador government and other countries that's sorting for the positivity.
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There are more positive sides if countries start adopting it and seeing how the development of Bitcoin in El Salvador that makes the country grow and benefit from Bitcoin, it will certainly be a good example that the adoption of Bitcoin is not terrible and opens up good opportunities in the future as an optional and revolutionary means of payment.
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There are more positive sides if countries start adopting it and seeing how the development of Bitcoin in El Salvador that makes the country grow and benefit from Bitcoin, it will certainly be a good example that the adoption of Bitcoin is not terrible and opens up good opportunities in the future as an optional and revolutionary means of payment.
In my opinion, Bitcoin usage may well open the door for countries which are trapped into an unfair and complex financial environment. El Salvador has proved that those kinds of assets can open new prospect not only for the innovations but also for the future of the economy. It is not creating a new system to utilise instead of the old one, but offering a transparent system. If you fast forward and try to analyse these effects, it can be seen that this particular technology is penetrating the lives of people without necessarily passing through institutions. This is because trust is gaining its popularity not because of arm twisting but due to the delivered value.
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That means your country in Pakistan is very confident in Bitcoin to make a reserve fund and I think your country Pakistan is very brave to take risks to Bitcoin which is used as a reserve fund. Amazing!
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Well, I am still waiting to see the Binance X-CEO as an advisor role, like what kind of plan he is going to implement in all that.
That means, Pakistan has not fully made Bitcoin a reserve fund?
The news that I shared with you is only maybe 2 or 3 days old hardly, when the Pakistani government declared X-CEO of Binance CZ as its role of strategic crypto advisor.
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Well, I think that I shared the information that the Pakistani government has declared it since 2 or 3 years ago.
It turned out that the reality was that the information was still as warm as the pancake cake that was just lifted from the place where the Panganan 1 minute ago. But I'm sure this is good news for your country in Pakistan when cryptocurrency began to be recognized by the government.
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Has your country legalized Bitcoin as a digital currency? Or are you confused about that, mate?
In Indonesia in our country Cryptocurrency is legal if used as a digital asset as a commodity trade only.
But cryptocurrency will be illegal if used as a payment tool in the real world such as buying food, drinks, clothes, motorcycles, cars using cryptocurrency.
That is why Tax and Cryptocurrency trading rules in Indonesia are quite tight so as not to violate the sovereignty created by the government.
In Indonesia also has a lot of local markets that have a lot of trade pairs and marketcas are quite high, namely the Indodax market. Please check here for the reference --> https://coinmarketcap.com/exchanges/indodax/
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El Salvador is indeed a pioneer who dares to adopt bitcoin first and allows bitcoin for payment methods. El Salvador has already bought bitcoin as a reserve fund. This is what makes El Salvador have a higher advantage than other countries. And Trump has taken the right step by supporting bitcoin, because bitcoin has been predicted to have a bright future. Countries that have not supported bitcoin will be left behind, we'll just have to wait and see.
There are some decisions made by governments which may act as landmark decision, changing peoples perspective towards digital commodities. In this particular case, one can observe how a government promise can predict and design something that is hitherto considered to be fictional. It cannot be downplayed that such audacity brings about new prospects regarding technology and economic models. What was once considered as a process for a niche community has now emerged onto the global stage with more people coming up with the argument. In some cases if there is at one political leader who makes statement, the vibration made may cause others to observe or follow suit. While some people are still sceptical, others are making the changes that indicate that something has to shift in a way that cannot be masked any longer.
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El Salvador is indeed a pioneer who dares to adopt bitcoin first and allows bitcoin for payment methods. El Salvador has already bought bitcoin as a reserve fund. This is what makes El Salvador have a higher advantage than other countries. And Trump has taken the right step by supporting bitcoin, because bitcoin has been predicted to have a bright future. Countries that have not supported bitcoin will be left behind, we'll just have to wait and see.
There are some decisions made by governments which may act as landmark decision, changing peoples perspective towards digital commodities. In this particular case, one can observe how a government promise can predict and design something that is hitherto considered to be fictional. It cannot be downplayed that such audacity brings about new prospects regarding technology and economic models. What was once considered as a process for a niche community has now emerged onto the global stage with more people coming up with the argument. In some cases if there is at one political leader who makes statement, the vibration made may cause others to observe or follow suit. While some people are still sceptical, others are making the changes that indicate that something has to shift in a way that cannot be masked any longer.
Its only going to be needed for the countries to adopt BTC when they realized their financial infrastructure is not as stable as they thought. Russia and China realized it a long time ago that's why they already are looking for ways to move away from USD.
And now that USD is becoming vulnerable due to this tariff war, I think countries will also be seeing themselves finding a safer assets to hold. But by that time, I think the price will already be higher than now.
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As a holder, I want them to adopt and legalized Bitcoin as an asset and as payment. It's an advantage for us because that will shoot the price up. And they are also going to have an idea that many people now are into Bitcoin. I am seeing merchants accepting BTC as payment but most of us don't want to spend it even if it's declared as a legal way of paying their products.
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In my opinion, Bitcoin usage may well open the door for countries which are trapped into an unfair and complex financial environment. El Salvador has proved that those kinds of assets can open new prospect not only for the innovations but also for the future of the economy. It is not creating a new system to utilise instead of the old one, but offering a transparent system. If you fast forward and try to analyse these effects, it can be seen that this particular technology is penetrating the lives of people without necessarily passing through institutions. This is because trust is gaining its popularity not because of arm twisting but due to the delivered value.
El Salvador did start it all and the Bitcoin adoption that was carried out had a huge impact on economic life in El Salvador and it is a real example that Bitcoin adoption is really successful and provides more benefits even beyond the expectations of all of us.
Which was initially the adoption of bitcoin in and received a lot of rejection from some groups, now the adoption of bitcoin provides tremendous advantages to build el Salvador. The value provided by bitcoin is truly a revolutionary advance and makes a small country the attention of the big countries around it.
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In my opinion, Bitcoin usage may well open the door for countries which are trapped into an unfair and complex financial environment. El Salvador has proved that those kinds of assets can open new prospect not only for the innovations but also for the future of the economy. It is not creating a new system to utilise instead of the old one, but offering a transparent system. If you fast forward and try to analyse these effects, it can be seen that this particular technology is penetrating the lives of people without necessarily passing through institutions. This is because trust is gaining its popularity not because of arm twisting but due to the delivered value.
El Salvador did start it all and the Bitcoin adoption that was carried out had a huge impact on economic life in El Salvador and it is a real example that Bitcoin adoption is really successful and provides more benefits even beyond the expectations of all of us.
Which was initially the adoption of bitcoin in and received a lot of rejection from some groups, now the adoption of bitcoin provides tremendous advantages to build el Salvador. The value provided by bitcoin is truly a revolutionary advance and makes a small country the attention of the big countries around it.
The decision to make Bitcoin as an official currency in an El Salvador received criticism from many people, but many such a decision has proved to be useful for the country. What this was true showcased that innovation in the field of technology especially in the financial sector can be viable not only in large but also in small countries. The acceptance of Bitcoin has also influenced changes in other aspects to some respects and the focus on this has drawn attention on the global stage thus offering more opportunities for the growth. For instance, this success is an excellent example of what usually happens when one dares to change something and shift from the status quo.
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In Indonesia in our country Cryptocurrency is legal if used as a digital asset as a commodity trade only.
But cryptocurrency will be illegal if used as a payment tool in the real world such as buying food, drinks, clothes, motorcycles, cars using cryptocurrency.
That is why Tax and Cryptocurrency trading rules in Indonesia are quite tight so as not to violate the sovereignty created by the government.
In Indonesia also has a lot of local markets that have a lot of trade pairs and marketcas are quite high, namely the Indodax market. Please check here for the reference --> https://coinmarketcap.com/exchanges/indodax/
Well, mate, I have opened the shared source link, so I have a little question for you related to that: The source you shared is an Indonesian exchange, right? So can Indonesian people perform P2P on these exchanges to convert digital assets into fiat money? Well, I think this is great to track the Indonesian resident activity easily with the help of its own exchange and can impose taxes accordingly.
Other than that, are there other exchanges like Binance, OKX, KuCoin, and Gate.IO legal there? Or are these exchanges not providing their services there?
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I think Bitcoin payments should be available in all countries, but only optional and not mandatory and not forced by anyone.
If someone wants to pay with Bitcoin they should have the freedom to do it, and governments can even make profit with this with charging small additional fee.
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I think Bitcoin payments should be available in all countries, but only optional and not mandatory and not forced by anyone.
If someone wants to pay with Bitcoin they should have the freedom to do it, and governments can even make profit with this with charging small additional fee.
Agreed! Both parties would win in such a case.
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If two countries can accept bitcoin as a legal tender, then there is nothing stopping others in doing so, we are not taking permission to adopt bitcoin as a legal tender, everyone has the right to choose as when and how they can make use of their internal decision in what they want regarding bitcoin, but if there is any country not willy to adopt the use of bitcoin, then they should allow their citizens to make use of bitcoin for their own good.
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If two countries can accept bitcoin as a legal tender, then there is nothing stopping others in doing so, we are not taking permission to adopt bitcoin as a legal tender, everyone has the right to choose as when and how they can make use of their internal decision in what they want regarding bitcoin, but if there is any country not willy to adopt the use of bitcoin, then they should allow their citizens to make use of bitcoin for their own good.
I agree that the government should allow its citizens to invest in bitcoin, because the popularity of bitcoin is currently high and several countries have made bitcoin a reserve fund. The government must think ahead. because the advancement of crypto technology will be needed in the future.
when it is interesting to see if two countries can make transactions using bitcoin, maybe it will happen in the future.
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I agree that the government should allow its citizens to invest in bitcoin, because the popularity of bitcoin is currently high and several countries have made bitcoin a reserve fund. The government must think ahead. because the advancement of crypto technology will be needed in the future.
Actually nobody stops you from investing in bitcoin. The reason I insist on this is because you will find out that even countries that yet haven't accepted bitcoin as a legal tender, you still tend to have a couple of bitcoin holders there regardless.
The only major difference is when it comes to spending those bitcoins because in a country where it is accepted as a legal tender the freedom to spend is better than that in a country where it isn't accepted.
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I agree that the government should allow its citizens to invest in bitcoin, because the popularity of bitcoin is currently high and several countries have made bitcoin a reserve fund. The government must think ahead. because the advancement of crypto technology will be needed in the future.
Actually nobody stops you from investing in bitcoin. The reason I insist on this is because you will find out that even countries that yet haven't accepted bitcoin as a legal tender, you still tend to have a couple of bitcoin holders there regardless.
The only major difference is when it comes to spending those bitcoins because in a country where it is accepted as a legal tender the freedom to spend is better than that in a country where it isn't accepted.
Actually, I also want my country to be able to accept bitcoin as a legal tender, but unfortunately the government only allows bitcoin for investment. Maybe the government is just reviewing and considering whether the fluctuating bitcoin can be used as a legal tender or not. Let's just wait and see what the government will do in the next few years.
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As a holder, I want them to adopt and legalized Bitcoin as an asset and as payment. It's an advantage for us because that will shoot the price up. And they are also going to have an idea that many people now are into Bitcoin. I am seeing merchants accepting BTC as payment but most of us don't want to spend it even if it's declared as a legal way of paying their products.
- All of us crypto enthusiasts here probably want the government we have to adopt bitcoin as a mode of payment so that the community can become familiar with this digital currency. Because if something like this happens, it will be a great success for our crypto enthusiasts.
I only know of two countries that have made Bitcoin legal tender and these are El Salvador and Central Africa if I am not mistaken in this matter.
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Accepting Bitcoin as a legal tender may not give results and increases such as countries/companies allocating 5% of their profits to buy Bitcoin, so everyone using Bitcoin does not mean that its price will rise, but these companies considering Bitcoin a long-term investment is what will lead to a sharp increase in the price.
We know many countries are accepting Bitcoin as legal currency and as payment. And that is very positive for Bitcoin and total cryptocurrency. Now a days Bitcoin is very popular. We know El Salvador getting Bitcoin as legal and National payment method.
I think it is very positive and for it Bitcoin's price increasing gradually. We know few months ago Bitcoin price was only $30k to $40k and now Bitcoin price is near about $85k. So i think when more country it will accept then it’s price will increase more and more.
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We know many countries are accepting Bitcoin as legal currency and as payment. And that is very positive for Bitcoin and total cryptocurrency. Now a days Bitcoin is very popular. We know El Salvador getting Bitcoin as legal and National payment method.
There are already 2 countries which accepted Bitcoin as legal tender. And there are some countries which legalized Bitcoin as payment tool if we take a look the information on wikipedia. Sure, it is positive thing, it will make Bitcoin to be more popular and people will be more familiar in using Bitcoin for any purposes.
https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
I think it is very positive and for it Bitcoin's price increasing gradually. We know few months ago Bitcoin price was only $30k to $40k and now Bitcoin price is near about $85k. So i think when more country it will accept then it’s price will increase more and more.
Bitcoin has a certain way on growing its price. We know the term of "4 years cycle", it divides into bearish and bullish period. The price increases and declines mostly depend on these matters. However, sometimes Bitcoin can increase suddenly because of the influence of news/issues. Yes, there should be more countries to legalize Bitcoin and they probably have the intention to make it as their funding reserves as well.
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I agree that the government should allow its citizens to invest in bitcoin, because the popularity of bitcoin is currently high and several countries have made bitcoin a reserve fund. The government must think ahead. because the advancement of crypto technology will be needed in the future.
Actually nobody stops you from investing in bitcoin. The reason I insist on this is because you will find out that even countries that yet haven't accepted bitcoin as a legal tender, you still tend to have a couple of bitcoin holders there regardless.
The only major difference is when it comes to spending those bitcoins because in a country where it is accepted as a legal tender the freedom to spend is better than that in a country where it isn't accepted.
Yes, there are many ways for citizens to invest in Bitcoin without it being legal or not. Moreover, it is done online, so that citizens can do it more easily and freely. However, if it is legalized or allowed to invest and trade crypto, then it will make various things related to crypto easier. For example, if there is legality, the country will allow local exchanges to make it easier for its citizens to transact, will expand the forum for the community to relate to crypto, and also several regulations that benefit crypto activists.
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However, if it is legalized or allowed to invest and trade crypto, then it will make various things related to crypto easier. For example, if there is legality, the country will allow local exchanges to make it easier for its citizens to transact, will expand the forum for the community to relate to crypto, and also several regulations that benefit crypto activists.
Yes that's basically the edge if the country generally accepts it. It's even quite difficult to trade in a country that doesn't allow the use of crypto. Basically most crypto trades even require you to deposit some coins before you can trade.
Even when you intend to make use of fiat you will still need to do p2p most times to get crypto first before you can trade. Another down side is you have a high chance of being offered bad rates this is because there are just few vendors available.
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I think Bitcoin payments should be available in all countries, but only optional and not mandatory and not forced by anyone.
If someone wants to pay with Bitcoin they should have the freedom to do it, and governments can even make profit with this with charging small additional fee.
That's the point, I don't think there is a country that will accept Bitcoin as a payment that wouldn't make it optional. They won't like to make Bitcoin mandatory because it will not be everyone that will accept the ideal. Some will, some wouldn't like the idea because they are not educated about it.
However, there are things to pay for, they will make use of the country fiat. There are other things one would pay for, they will prefer using Bitcoin. That's gonna be individual preferences
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That's the point, I don't think there is a country that will accept Bitcoin as a payment that wouldn't make it optional. They won't like to make Bitcoin mandatory because it will not be everyone that will accept the ideal. Some will, some wouldn't like the idea because they are not educated about it.
However, there are things to pay for, they will make use of the country fiat. There are other things one would pay for, they will prefer using Bitcoin. That's gonna be individual preferences
There are still many considerations as to why a country still does not want to legalize Bitcoin as legal tender, as a legal means of payment. This is quite complicated, there will be pros and cons, there are pluses and minuses. But what is certain is that maybe all of them will have their own processes.
The thing that is often considered is because these countries still emphasize the use of their Fiat as a legal means of payment, and are recognized, and they can still control it all under government institutions and institutions. But if with Bitcoin, then it will be difficult to control. Not only that, they argue that it is all to maintain the financial stability of their people, who knows.
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I agree that the government should allow its citizens to invest in bitcoin, because the popularity of bitcoin is currently high and several countries have made bitcoin a reserve fund. The government must think ahead. because the advancement of crypto technology will be needed in the future.
Actually nobody stops you from investing in bitcoin. The reason I insist on this is because you will find out that even countries that yet haven't accepted bitcoin as a legal tender, you still tend to have a couple of bitcoin holders there regardless.
The only major difference is when it comes to spending those bitcoins because in a country where it is accepted as a legal tender the freedom to spend is better than that in a country where it isn't accepted.
Yes, there are many ways for citizens to invest in Bitcoin without it being legal or not. Moreover, it is done online, so that citizens can do it more easily and freely. However, if it is legalized or allowed to invest and trade crypto, then it will make various things related to crypto easier. For example, if there is legality, the country will allow local exchanges to make it easier for its citizens to transact, will expand the forum for the community to relate to crypto, and also several regulations that benefit crypto activists.
It is difficult to stop anything from being able to transact and invest in bitcoin. Even though there is a ban, it can still be done because its nature is very open and can indeed be done online.
Because that, many countries already know this nature, so they do not impose very strict prohibitions so that every citizen is able to transact properly.
I think legalizing is the right way that can be done by providing certain regulations so that the government has the ability to regulate properly and can take advantage of the taxes that are raised.
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There are still many considerations as to why a country still does not want to legalize Bitcoin as legal tender, as a legal means of payment. This is quite complicated, there will be pros and cons, there are pluses and minuses. But what is certain is that maybe all of them will have their own processes.
The thing that is often considered is because these countries still emphasize the use of their Fiat as a legal means of payment, and are recognized, and they can still control it all under government institutions and institutions. But if with Bitcoin, then it will be difficult to control. Not only that, they argue that it is all to maintain the financial stability of their people, who knows.
For that reason, we cannot leave out the probability that, for many countries, management of currency is still a core affair in stability of their economy and systems of finance. The Fiat system on the other hand gives governments unencumbered control of the money in circulation and its supply and hence the inflation rate, the fiscal and budgeting policies, and even interest rates. When managing such assets as Bitcoin, which do not have a central control being electronic currency, it causes anxiety of instability of the exchange rate and tendencies towards manipulation. Even though there are some discussions about the freedom of blockchain technology, the state now prefers to stick with the controlled framework that it still has the only responsibility to maintain the economic stability of the country.
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I think Bitcoin payments should be available in all countries, but only optional and not mandatory and not forced by anyone.
If someone wants to pay with Bitcoin they should have the freedom to do it, and governments can even make profit with this with charging small additional fee.
That's the point, I don't think there is a country that will accept Bitcoin as a payment that wouldn't make it optional. They won't like to make Bitcoin mandatory because it will not be everyone that will accept the ideal. Some will, some wouldn't like the idea because they are not educated about it.
However, there are things to pay for, they will make use of the country fiat. There are other things one would pay for, they will prefer using Bitcoin. That's gonna be individual preferences
It depends on a country's policy to make bitcoin a means of payment or not. While we know that not everyone will agree with it and most in my opinion will reject it.
However, when a country or government is present and makes bitcoin only allowed to be used as a commodity asset, I think that is also good enough. Although of course we will be happier when bitcoin is legalized as a means of payment.
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It depends on a country's policy to make bitcoin a means of payment or not. While we know that not everyone will agree with it and most in my opinion will reject it.
However, when a country or government is present and makes bitcoin only allowed to be used as a commodity asset, I think that is also good enough. Although of course we will be happier when bitcoin is legalized as a means of payment.
You are right to say that the issue of the legalisation of using of bitcoins is vested upon the policy decision of a particular country. While it is crucial to note that transformation of monetary systems is usually resisted, especially in the uptake of new technologies. That is why when a government decides to regulate only Bitcoin as an asset it can be considered to be safe as it observes the impacts. Still once people are able to utilise this asset for speculation or for holding value then it is used in the normalisation process. What is found is that although legalisation of payment mode is not still in great prominence in developing nations currently, gradual recognition is sufficient to help it gain ground.
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t is difficult to stop anything from being able to transact and invest in bitcoin. Even though there is a ban, it can still be done because its nature is very open and can indeed be done online.
Because that, many countries already know this nature, so they do not impose very strict prohibitions so that every citizen is able to transact properly.
I think legalizing is the right way that can be done by providing certain regulations so that the government has the ability to regulate properly and can take advantage of the taxes that are raised.
I agree with you, the government should legalize it by making proper regulations. and the government can take taxes from crypto transactions. This is income for the country. because even though it is prohibited, crypto lovers still invest and transact with crypto so the government has no choice because big countries have started to open up and support bitcoin as an investment
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However, if it is legalized or allowed to invest and trade crypto, then it will make various things related to crypto easier. For example, if there is legality, the country will allow local exchanges to make it easier for its citizens to transact, will expand the forum for the community to relate to crypto, and also several regulations that benefit crypto activists.
Yes that's basically the edge if the country generally accepts it. It's even quite difficult to trade in a country that doesn't allow the use of crypto. Basically most crypto trades even require you to deposit some coins before you can trade.
Even when you intend to make use of fiat you will still need to do p2p most times to get crypto first before you can trade. Another down side is you have a high chance of being offered bad rates this is because there are just few vendors available.
Yes, everything definitely has its pros and cons. However, if it does become legal, even within certain limits, at least, recognition of the legality of crypto can provide a fairly large profit. But one more thing, unfortunately, usually this will also affect the government's decision or consideration to collect taxes from crypto, from crypto transactions. As happened in my country, where after crypto was legalized, then in some time, in the end, the tax was imposed during trading through local exchanges with a certain percentage. Well, again, everything has its pros and cons, including this.
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As happened in my country, where after crypto was legalized, then in some time, in the end, the tax was imposed during trading through local exchanges with a certain percentage. Well, again, everything has its pros and cons, including this.
I'm fine with tax as long as it's reasonable. The current 0.11% per transaction, for example, is OK. I'd be mad if they start charging 2% for each transaction or more, especially when I don't get any tangible benefits after they raise the tax at all. That would also push people towards the underground market if there are cheaper options right there.
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It depends on a country's policy to make bitcoin a means of payment or not. While we know that not everyone will agree with it and most in my opinion will reject it.
However, when a country or government is present and makes bitcoin only allowed to be used as a commodity asset, I think that is also good enough. Although of course we will be happier when bitcoin is legalized as a means of payment.
You are right to say that the issue of the legalisation of using of bitcoins is vested upon the policy decision of a particular country. While it is crucial to note that transformation of monetary systems is usually resisted, especially in the uptake of new technologies. That is why when a government decides to regulate only Bitcoin as an asset it can be considered to be safe as it observes the impacts. Still once people are able to utilise this asset for speculation or for holding value then it is used in the normalisation process. What is found is that although legalisation of payment mode is not still in great prominence in developing nations currently, gradual recognition is sufficient to help it gain ground.
Well that's it, although bitcoin may not be fully used as desired, but when the government or a country recognizes the existence of bitcoin by legalizing it as an asset, that's good enough.
Moreover, we also achieved this in a long time and keep in mind that we also got a lot of rejections and even worse things. But bitcoin has managed to convince many people until now.
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It depends on a country's policy to make bitcoin a means of payment or not. While we know that not everyone will agree with it and most in my opinion will reject it.
However, when a country or government is present and makes bitcoin only allowed to be used as a commodity asset, I think that is also good enough. Although of course we will be happier when bitcoin is legalized as a means of payment.
You are right to say that the issue of the legalisation of using of bitcoins is vested upon the policy decision of a particular country. While it is crucial to note that transformation of monetary systems is usually resisted, especially in the uptake of new technologies. That is why when a government decides to regulate only Bitcoin as an asset it can be considered to be safe as it observes the impacts. Still once people are able to utilise this asset for speculation or for holding value then it is used in the normalisation process. What is found is that although legalisation of payment mode is not still in great prominence in developing nations currently, gradual recognition is sufficient to help it gain ground.
Well that's it, although bitcoin may not be fully used as desired, but when the government or a country recognizes the existence of bitcoin by legalizing it as an asset, that's good enough.
Moreover, we also achieved this in a long time and keep in mind that we also got a lot of rejections and even worse things. But bitcoin has managed to convince many people until now.
It feels good to see stores accepting BTC payments in our area, especially if it is made legal in our country. But we know that the government doesn't like Bitcoin because it will be difficult for them to trace the wallet owners, but they are doing something to identify it in other ways so maybe in the future they will make it legal in our country especially if they see its benefits.
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I think Bitcoin payments should be available in all countries, but only optional and not mandatory and not forced by anyone.
If someone wants to pay with Bitcoin they should have the freedom to do it, and governments can even make profit with this with charging small additional fee.
That's the point, I don't think there is a country that will accept Bitcoin as a payment that wouldn't make it optional. They won't like to make Bitcoin mandatory because it will not be everyone that will accept the ideal. Some will, some wouldn't like the idea because they are not educated about it.
However, there are things to pay for, they will make use of the country fiat. There are other things one would pay for, they will prefer using Bitcoin. That's gonna be individual preferences
the thing is fiat represents a lot more than a currency for countries, it is their identity it represents their economic status as well as cultural identity through the design of the money paper and they can also have control over it which makes it easier to control their economy if there is something they want to adjust and these are things a government can never achieve with bitcoin
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Well that's it, although bitcoin may not be fully used as desired, but when the government or a country recognizes the existence of bitcoin by legalizing it as an asset, that's good enough.
Moreover, we also achieved this in a long time and keep in mind that we also got a lot of rejections and even worse things. But bitcoin has managed to convince many people until now.
Being recognized by the government is a great achievement for bitcoin because at the beginning of bitcoin's launch we saw a lot of rejection and negative news attacking bitcoin.
and now the US and several major countries support bitcoin, this will affect other countries to immediately support bitcoin. We'll just see in the next few years.
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It depends on a country's policy to make bitcoin a means of payment or not. While we know that not everyone will agree with it and most in my opinion will reject it.
However, when a country or government is present and makes bitcoin only allowed to be used as a commodity asset, I think that is also good enough. Although of course we will be happier when bitcoin is legalized as a means of payment.
You are right to say that the issue of the legalisation of using of bitcoins is vested upon the policy decision of a particular country. While it is crucial to note that transformation of monetary systems is usually resisted, especially in the uptake of new technologies. That is why when a government decides to regulate only Bitcoin as an asset it can be considered to be safe as it observes the impacts. Still once people are able to utilise this asset for speculation or for holding value then it is used in the normalisation process. What is found is that although legalisation of payment mode is not still in great prominence in developing nations currently, gradual recognition is sufficient to help it gain ground.
Well that's it, although bitcoin may not be fully used as desired, but when the government or a country recognizes the existence of bitcoin by legalizing it as an asset, that's good enough.
Moreover, we also achieved this in a long time and keep in mind that we also got a lot of rejections and even worse things. But bitcoin has managed to convince many people until now.
It feels good to see stores accepting BTC payments in our area, especially if it is made legal in our country. But we know that the government doesn't like Bitcoin because it will be difficult for them to trace the wallet owners, but they are doing something to identify it in other ways so maybe in the future they will make it legal in our country especially if they see its benefits.
I believe that it is great now that the thing which we once used to tag as a fad in the industry is now beginning to be used for actual practise in things such as everyday transactions around us. However, you are also correct that we are still discussing it because as far as the government is concerned there are still holes that are considered too weak to be controlled and scrutinised. However, as for me the best judge would be time. The more businesses and citizens directly see the advantages of these digital assets, the larger the practise will increase the discussion space. Well I do not think that the government is incompetent to approve them they are only waiting for the right time when they will feel that the implementation of these instruments will not pose a threat to the public. For now, the only thing one has to do is continue using these digital assets healthily and try to gain as much knowledge about them as possible so that one will not be driven by emotions when encountering such issues.
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Well that's it, although bitcoin may not be fully used as desired, but when the government or a country recognizes the existence of bitcoin by legalizing it as an asset, that's good enough.
Moreover, we also achieved this in a long time and keep in mind that we also got a lot of rejections and even worse things. But bitcoin has managed to convince many people until now.
Being recognized by the government is a great achievement for bitcoin because at the beginning of bitcoin's launch we saw a lot of rejection and negative news attacking bitcoin.
and now the US and several major countries support bitcoin, this will affect other countries to immediately support bitcoin. We'll just see in the next few years.
Yes, we can see now where big countries that previously even rejected bitcoin are now slowly starting to show their interest in bitcoin.
Although we never know what the reason is for them, because individuals and governments usually have different views. We as individuals might say honestly that we are here looking for profit and others, but if the country or government usually has other things that are their goals.
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It depends on a country's policy to make bitcoin a means of payment or not. While we know that not everyone will agree with it and most in my opinion will reject it.
However, when a country or government is present and makes bitcoin only allowed to be used as a commodity asset, I think that is also good enough. Although of course we will be happier when bitcoin is legalized as a means of payment.
You are right to say that the issue of the legalisation of using of bitcoins is vested upon the policy decision of a particular country. While it is crucial to note that transformation of monetary systems is usually resisted, especially in the uptake of new technologies. That is why when a government decides to regulate only Bitcoin as an asset it can be considered to be safe as it observes the impacts. Still once people are able to utilise this asset for speculation or for holding value then it is used in the normalisation process. What is found is that although legalisation of payment mode is not still in great prominence in developing nations currently, gradual recognition is sufficient to help it gain ground.
Well that's it, although bitcoin may not be fully used as desired, but when the government or a country recognizes the existence of bitcoin by legalizing it as an asset, that's good enough.
Moreover, we also achieved this in a long time and keep in mind that we also got a lot of rejections and even worse things. But bitcoin has managed to convince many people until now.
It feels good to see stores accepting BTC payments in our area, especially if it is made legal in our country. But we know that the government doesn't like Bitcoin because it will be difficult for them to trace the wallet owners, but they are doing something to identify it in other ways so maybe in the future they will make it legal in our country especially if they see its benefits.
I believe that it is great now that the thing which we once used to tag as a fad in the industry is now beginning to be used for actual practise in things such as everyday transactions around us. However, you are also correct that we are still discussing it because as far as the government is concerned there are still holes that are considered too weak to be controlled and scrutinised. However, as for me the best judge would be time. The more businesses and citizens directly see the advantages of these digital assets, the larger the practise will increase the discussion space. Well I do not think that the government is incompetent to approve them they are only waiting for the right time when they will feel that the implementation of these instruments will not pose a threat to the public. For now, the only thing one has to do is continue using these digital assets healthily and try to gain as much knowledge about them as possible so that one will not be driven by emotions when encountering such issues.
Yeah, the right time will come for everything. Another thing I would consider is why some countries will have difficulty accepting Bitcoin as legal because its value is very volatile, which is there is a real risk that the price of Bitcoin may drop. But if we think about it carefully, Bitcoin is not as volatile as before. The price of Bitcoin now is okay because it is stable so we don't receive much negativity from the government about Bitcoin but what if it is a bearish market, where all the prices in the market will really fall? I think we should consider that.
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Well that's it, although bitcoin may not be fully used as desired, but when the government or a country recognizes the existence of bitcoin by legalizing it as an asset, that's good enough.
Moreover, we also achieved this in a long time and keep in mind that we also got a lot of rejections and even worse things. But bitcoin has managed to convince many people until now.
Being recognized by the government is a great achievement for bitcoin because at the beginning of bitcoin's launch we saw a lot of rejection and negative news attacking bitcoin.
and now the US and several major countries support bitcoin, this will affect other countries to immediately support bitcoin. We'll just see in the next few years.
Yes, we can see now where big countries that previously even rejected bitcoin are now slowly starting to show their interest in bitcoin.
Although we never know what the reason is for them, because individuals and governments usually have different views. We as individuals might say honestly that we are here looking for profit and others, but if the country or government usually has other things that are their goals.
Yes, more and more country who previously refused are now willing to accept bitcoin because they have felt that there are many benefits compared to others, so it is natural that they are starting to look to accept it.
Every policy does depend on each country and all because it is thought out well so that it does not harm them later.
But after developing well, it can be seen that there are benefits for the government and society itself.
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Yes, more and more country who previously refused are now willing to accept bitcoin because they have felt that there are many benefits compared to others, so it is natural that they are starting to look to accept it.
Every policy does depend on each country and all because it is thought out well so that it does not harm them later.
But after developing well, it can be seen that there are benefits for the government and society itself.
They may refuse it in the past because there were still many bad rumors or negative issues on Bitcoin. Now, they already know well Bitcoin and Bitcoin is very popular. Even, El Salvador makes it as a legal tender and USA makes it as their main crypto asset. So, there is no reason that those countries to refuse Bitcoin anymore. The policy in a country can change, it is normal that they accept Bitcoin nowadays.
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Yes, more and more country who previously refused are now willing to accept bitcoin because they have felt that there are many benefits compared to others, so it is natural that they are starting to look to accept it.
Every policy does depend on each country and all because it is thought out well so that it does not harm them later.
But after developing well, it can be seen that there are benefits for the government and society itself.
They may refuse it in the past because there were still many bad rumors or negative issues on Bitcoin. Now, they already know well Bitcoin and Bitcoin is very popular. Even, El Salvador makes it as a legal tender and USA makes it as their main crypto asset. So, there is no reason that those countries to refuse Bitcoin anymore. The policy in a country can change, it is normal that they accept Bitcoin nowadays.
At first, it was like you said, because many were not sure and there was still a lot of news that did not support and many bad issues about bitcoin.
But over time, it has started to develop and many have recognized it because the positive impacts obtained are more than negative.
Many countries have recognized and made bitcoin a legal tender because it is very profitable, so they recognize it, but there are still countries that reject it and that is a different policy, and it is natural that one day they will also recognize it.
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Over the year so many countries are against BTC which is not a good thing, Bitcoin suppose to be go against every bank and government policy.
If we take a look at countries that has accept BTC like El Salvador president started purchasing BTC for about 4 years now and currently they're the first Bitcoin nation has paid all their debts and also growing the country economy, if other countries could do this it would be helpful for every country, good this Trump is thinking of having a BITCOIN reserve let's see how that plays for them and the crypto space.
Do you think every country should have a Bitcoin reserve?
It depends on the leader of a country whether they are open to the opportunity here in bticoin or blockchain technology, because if their minds are closed, no matter how beautiful and potential there is in bitcoin or cryptocurrency, they will not see it for sure.
Therefore, that can happen in all countries but all of that depends on the president or prime minister who leads all countries around the world.