Should countries accept BTC as means of payment?

[snowpega]

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.

[Mr. Magkaisa]

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.

[densus88]

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.

[Legion]

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.

[kai]

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.

[fruktik]

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.

[snowpega]

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?

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?

[Fivestar4everMVP]

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.

[doc]

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.

[Gposas]

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.

[JISAN]

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.

[taufik123]

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.
-snip-

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.

[lombok]

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.

[kai]

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?

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.
.....

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.

....
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/

[Legion]

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.