Should countries accept BTC as means of payment?

[Mia Chloe]

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.

[JoyMarsha]

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

[sampoerna]

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.

[yohananaomi]

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.

[Blaze]

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.

[ajiz138]

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.

[enwi]

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.

[legend45]

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

[vegasus]

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.

[joniboini]

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.

[ajiz138]

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.

[jeraldskie11]

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.

[bitterguy28]

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

[doc]

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.

[Blaze]

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.