Should countries accept BTC as means of payment?

[bitbit97]

Every country, now or later, will believe in Bitcoin and will use it as a means of payment. The quicker they acquire it, the faster they will grow, and vice versa. Take the example of El Salvador, they are now debt free, and they don't have a slave financial system. In fact, everyone is living a good life there. So, if the states adopt it, then they will be free from debt and loans from international bodies, and the interest they are paying will be utilized for their people's benefits. So, it's a good initiative if the government considers it for adoption.

How did you come to conclusion that everyone are living a good life in El Salvador now? And why do you think it is thanks to Bitcoin? Gangs were one of El Salvador problems, and Nayib Bukele with his politics of strength, power, and army put most of them in jail (created mega prison). El Salvador external debt is still around 14 billions US dollars.

If Bitcoin so helped them, why they have paused for some days their promise to buy 1 Bitcoin every day? All that Bitcoin story in El Salvador seems to be made only to get attention from the world and distract from something other, as majority of deals are still in US dollars.

[legend45]

Every country, now or later, will believe in Bitcoin and will use it as a means of payment. The quicker they acquire it, the faster they will grow, and vice versa. Take the example of El Salvador, they are now debt free, and they don't have a slave financial system. In fact, everyone is living a good life there. So, if the states adopt it, then they will be free from debt and loans from international bodies, and the interest they are paying will be utilized for their people's benefits. So, it's a good initiative if the government considers it for adoption.

How did you come to conclusion that everyone are living a good life in El Salvador now? And why do you think it is thanks to Bitcoin? Gangs were one of El Salvador problems, and Nayib Bukele with his politics of strength, power, and army put most of them in jail (created mega prison). El Salvador external debt is still around 14 billions US dollars.

If Bitcoin so helped them, why they have paused for some days their promise to buy 1 Bitcoin every day? All that Bitcoin story in El Salvador seems to be made only to get attention from the world and distract from something other, as majority of deals are still in US dollars.

We do not know the truth of the story about bitcpoin whether it has made its citizens good and experienced an increase in income there, El Salvador. However, I think its citizens are safer and more comfortable in investing in bitcoin and this is a means to increase the income of El Salvador citizens. This is good and deserves to be appreciated. Although perhaps not all El Salvador citizens invest in crypto

[|MINER|]

Adopting Bitcoin as a reserve asset can be a strategic move for countries, even those with limited funds, if done thoughtfully. Bitcoin’s fixed 21 million supply, with millions already lost to inaccessible wallets, ensures scarcity, driving value as demand grows. Countries can accumulate Bitcoin gradually, aligning with their financial capacity, to hedge against inflation or currency devaluation. This doesn’t require complex expertise just a disciplined strategy. By holding Bitcoin, nations could secure long-term economic stability, leveraging its decentralized nature and rising value. However, risks like volatility and regulatory challenges must be managed to maximize benefits for their future.

Event and Bitcoin has a high volalities price in the market but when a country will going to make this as a reserve they will not going sell the bitcoin in a short. Or they will not going to trading with bitcoin. 
It will be an adoption which is for long term and it depends on that country's strategy. And here even then Bitcoin has the high volatility they will get profit because the day will go Bitcoin will have more demand on the market and that's makes Bitcoin more valuable and at a point we will say that even we make a investment in a bull season on the  future bear season we won't going to see the losses. So for long term Bitcoin investment is a guarantee of the countries assets.

[Hisbullah]

Adopting Bitcoin as a reserve asset can be a strategic move for countries, even those with limited funds, if done thoughtfully. Bitcoin’s fixed 21 million supply, with millions already lost to inaccessible wallets, ensures scarcity, driving value as demand grows. Countries can accumulate Bitcoin gradually, aligning with their financial capacity, to hedge against inflation or currency devaluation. This doesn’t require complex expertise just a disciplined strategy. By holding Bitcoin, nations could secure long-term economic stability, leveraging its decentralized nature and rising value. However, risks like volatility and regulatory challenges must be managed to maximize benefits for their future.

Event and Bitcoin has a high volalities price in the market but when a country will going to make this as a reserve they will not going sell the bitcoin in a short. Or they will not going to trading with bitcoin. 
It will be an adoption which is for long term and it depends on that country's strategy. And here even then Bitcoin has the high volatility they will get profit because the day will go Bitcoin will have more demand on the market and that's makes Bitcoin more valuable and at a point we will say that even we make a investment in a bull season on the  future bear season we won't going to see the losses. So for long term Bitcoin investment is a guarantee of the countries assets.

I agree with you, long-term bitcoin investment is a guarantee of state assets if you buy bitcoin as a strategic reserve fund and long-term hold. because the price of bitcoin will become more and more expensive. because the popularity of bitcoin will increase every year and bitcoin enthusiasts will also increase. Bitcoin can protect the value of our assets, this is the advantage of holding bitcoin

[Report]

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Do you think every country should have a Bitcoin reserve?

You wrote with the word "every" in a country?
If I notice the word seems to be forcing, if in business that is called forcing will not be good or will not provide profit.
A country that forces to accept Bitcoin will later cause pros and cons so that when there is a cons it will definitely be returned to the problem at the beginning, namely forcing to accept Bitcoin payments.

There are many ways for a country to accept Bitcoin casually because a country also if it already has the right regulations for Bitcoin will definitely give rise to many private exchanges that accept Bitcoin.
This is just my opinion for now because according to your experience it is also proven that El Salvador has declared that the country accepts payments in the form of Bitcoin.

[yohananaomi]

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.

In the past, we have too many negative issues about Bitcoin. It was the reason why many countries didn't support and accept Bitcoin. Nowadays, Bitcoin has proven as great digital investment and digital currency. So, many countries have accepted Bitcoin and they even invest in Bitcoin now. China and US become 2 top countries who hold many Bitcoins now.

As I said before, there have been many bad issues about Bitcoin, so it is not surprising that many people still cannot accept it as a tool that can be used for transactions and others by them.
But we know that developments have occurred that many are starting to look at accepting Bitcoin because it is very profitable when used and, of course, this will continue to increase over time.
Even now, many countries are also investing in Bitcoin, and it is not only big countries that do it.

[densuj]

Adopting Bitcoin as a reserve asset can be a strategic move for countries, even those with limited funds, if done thoughtfully. Bitcoin’s fixed 21 million supply, with millions already lost to inaccessible wallets, ensures scarcity, driving value as demand grows. Countries can accumulate Bitcoin gradually, aligning with their financial capacity, to hedge against inflation or currency devaluation. This doesn’t require complex expertise just a disciplined strategy. By holding Bitcoin, nations could secure long-term economic stability, leveraging its decentralized nature and rising value. However, risks like volatility and regulatory challenges must be managed to maximize benefits for their future.

Event and Bitcoin has a high volalities price in the market but when a country will going to make this as a reserve they will not going sell the bitcoin in a short. Or they will not going to trading with bitcoin. 
It will be an adoption which is for long term and it depends on that country's strategy. And here even then Bitcoin has the high volatility they will get profit because the day will go Bitcoin will have more demand on the market and that's makes Bitcoin more valuable and at a point we will say that even we make a investment in a bull season on the  future bear season we won't going to see the losses. So for long term Bitcoin investment is a guarantee of the countries assets.

Your perspective on Bitcoin as a long term reserve asset for countries is intriguing and aligns with the growing narrative around its potential as digital gold. bitcoins high volatility, while a challenge for short term trading, becomes less significant in a long term strategy, especially for nations adopting it as a reserve asset. Countries like El Salvador have already taken steps in this direction, holding Bitcoin with a focus on long term value appreciation rather than short term trading. This approach hinges on bitcoin fixed supply (21 million coins) and increasing global demand, which could drive its value higher over time. As more institutions, corporations, and even countries adopt Bitcoin, its scarcity could indeed make it a hedge against inflation and currency devaluation, offering profits in the long run.
However, there are risks to consider. Volatility, while potentially mitigated over decades, can still impact a countrys financial stability if not managed carefully. Regulatory uncertainty, cybersecurity threats, and geopolitical factors could also affect adoption. Countries would need robust strategies, including secure storage and clear policies on when or if to liquidate holdings. Diversifying reserves with Bitcoin alongside traditional assets like gold or foreign currencies could balance risk. For nations with unstable currencies, Bitcoin might serve as a strategic asset, but widespread adoption will depend on global acceptance and infrastructure development. Overall, while promising, long term bitcoin investment requires careful planning and risk management.

[Tribalchief]

Every country, now or later, will believe in Bitcoin and will use it as a means of payment. The quicker they acquire it, the faster they will grow, and vice versa.

In as much as Bitcoin has its way of protecting ones money over a long period of time, do you think it is the solution to a country with a very low GDP, high inflation rate, and high unemployment rate?, No I don't think it is. I think it's high time that we stop seeing Bitcoin as the solution to people's failure. If as an elected president of a country, you can't develop ways to increase productivity, but all you do is borrow from IMF, then it's quite a shame. Let's not forget that Bitcoin's primary purpose is to serve as a decentralized payment system, so whatever benefits that we get(like price growth over time), is like the icing on the cake.

Take the example of El Salvador, they are now debt free, and they don't have a slave financial system. In fact, everyone is living a good life there. So, if the states adopt it, then they will be free from debt and loans from international bodies, and the interest they are paying will be utilized for their people's benefits. So, it's a good initiative if the government considers it for adoption.

I think what the El Salvadorian president did was to encourage the use of Bitcoin locally, and not necessarily forcing it on his people. And you might also want to explain how the entire people of El Salvador are currently living a good life. There is no country where everyone even lives a good life. Government can encourage it's adoption, but certainly can't force it on the citizens.

[bitbit97]

Take the example of El Salvador, they are now debt free, and they don't have a slave financial system. In fact, everyone is living a good life there. So, if the states adopt it, then they will be free from debt and loans from international bodies, and the interest they are paying will be utilized for their people's benefits. So, it's a good initiative if the government considers it for adoption.

I think what the El Salvadorian president did was to encourage the use of Bitcoin locally, and not necessarily forcing it on his people. And you might also want to explain how the entire people of El Salvador are currently living a good life. There is no country where everyone even lives a good life. Government can encourage it's adoption, but certainly can't force it on the citizens.

I think he does not understand the situation with bitcoin, national currency and pricing. After Bitcoin was added as a payment option, all prices in the country stayed the same. A bottle of Pepsi cost $1, the same price it has in BTC. In the middle of June 2021 everyone received $30 in BTC to their CHIVO wallets. The price of BTC at that moment was $35-38k. If they have held it till today (that I doubt they did), they would have had about $100. $100 isnt a life changer even for El Salvador.