Frontline countries considering bitcoin as legal tender.

[Ahmedo24]

Bitcoin is no doubt the first and most famous cryptocurrency coin at the moment, it is the coin that is first know by most Crypto currency enthusiasts and Investors today.
El-Salvador took a strong and bold decision to adopt the use of Bitcoin as legal tender which will be passed into law by September hopefully, the country is working smartly to ensure smooth running activities arround the use of bitcoin as legal tender. This great development has pushed or motivated other countries to begin to work on adopting bitcoin as legal tender and amongst them are Panama, Argentina, Uruguay, Tonga, Brazil, Paraguay , Hinduras and South Africa.
In your opinion how fast did you see any of these countries legalizing the use of bitcoin as legal taking into consideration their economy and level of technological innovations and advancement.

 

[Deleted member 28127]

There is no uniformity of laws so some countries are thinking for banning cryptocurrencies lifetime while others are legalising it and make taxation so for each country his reason to follow first scheme or second scheme, citizens complains about country decision will unfortenally change anything unless the country changes his mind about banning crypto currency to unban them and let this legal, this can be a long procedure.

 

[Sherman198]

This is a solid movement in favor of Bitcoin. With some countries banning Bitcoin, some countries have several reasons to adopt it, perhaps it suits their political system. I think we will have many South American countries adopt Bitcoin and maybe in most of the European countries it may be ban. We may have an extreme cold war in our hands.

 

[Chibson]

I think this is a great move by this country is and it simply means that they have seen the advantages of their citizens using Bitcoin as a legal tender. Any visionary government must see the advantages in cryptocurrencies generally because it is definitely going to be in the new currency. The mass adoption of Bitcoin really tells me that the price will skyrocket soon.

 

[Sherman198]

I think this is a great move by this country is and it simply means that they have seen the advantages of their citizens using Bitcoin as a legal tender. Any visionary government must see the advantages in cryptocurrencies generally because it is definitely going to be in the new currency. The mass adoption of Bitcoin really tells me that the price will skyrocket soon.

Government may believe that Bitcoin can't be relied upon because of it's high volatility, and to say the fact, this excess volatility can't be suited for a generally acceptable currency yet. I think maybe it can be accepted as an asset for now, I don't think it's riped enough to be a legal tender.

And if we look at the range at which some perpetrators are going haywire with the wrong use of Bitcoin, you may want to support government of issuing a ban.

 

[Josemendez]

Well , as for me , I wouldn't call this a good or bad move until we see it functional in the country for months.
El Salvador president made this decision without probably aligning with the citizens and the countries regulators.
News gathered from coinmarketcap shows that the survey carried out by a university in the country shows that 54% are not comfortable with bitcoin as a legal tender.

 

[Sherman198]

Well , as for me , I wouldn't call this a good or bad move until we see it functional in the country for months.
El Salvador president made this decision without probably aligning with the citizens and the countries regulators.
News gathered from coinmarketcap shows that the survey carried out by a university in the country shows that 54% are not comfortable with bitcoin as a legal tender.

I would not advice anybody to go with news of the surveys. As most surveys are not always 100% accurate. Who knows, we may have lotta people who prefers Bitcoin to those who don't, in El Salvador, but the news won't feed you well.
What I just believe is, If El Salvador successfully adopts BTC lotta countries would follow suits and this will cause a spike.

 

[sincerem]

Now we have lots of them who are simply trying hard to legalize BTC as source of income through its various means of bringing revenue. El-salvador have taken it far indeed, I see them legalizing it here than the likes of ARG, BRA, SOU, HON, etc. They'll shown more resilient and eagerness towards its legalization. They'll airdropped $30 each to every adult citizens that downloads its BTC software wallet, that's a massive boost showing they are more positioned legalizing it.

 

[Josemendez]

I would not advice anybody to go with news of the surveys. As most surveys are not always 100% accurate. Who knows, we may have lotta people who prefers Bitcoin to those who don't, in El Salvador, but the news won't feed you well.
What I just believe is, If El Salvador successfully adopts BTC lotta countries would follow suits and this will cause a spike.

The issue there is something that is difficult to understand. If El Salvador adopts bitcoin as a legal tender , it is a Borden on some businesses especially those who cannot be able to solve the issue of bitcoin volatility . Secondly , the international monetary fund will be a thorn in their flesh.