Crypto Paraguay the next to adopt bitcoin .

[Josemendez]

El Salvador decision to make bitcoin a legal tender seems to have prompted other countries towards having a digital currency , precisely cryptocurrency .

News gathered from cointelegraph shows that Paraguayan Congressman Carlitos Rejala and Senator Fernando Silva Facetti are going to present A bitcoin bill to the Congress on July 21. This is to see for a way that the country will capitalize on the potentials of bitcoin.

The rate at which countries are turning to bitcoin now puts question on what the price of bitcoin can be when all the countries of the world accepts bitcoin , considering that there are only 21 Million bitcoin to ever exist. It means then , that they price of bitcoin can soar up to $500k because the demand will be far greater than the supply.

I think it is better to expect this while being careful in case the reverse becomes the case.

 

[btaliat]

This is a nostalgic moment in cryptocurrency world. You don't know whether to be jubilating or be indifferent anytime you read about government intervention in cryptocurrency. The fact is that the disadvantages of government introduction of coins are far more than the advantages. When crypto is regularised, taxation will be surely introduced.

 

[Josemendez]

This is a nostalgic moment in cryptocurrency world. You don't know whether to be jubilating or be indifferent anytime you read about government intervention in cryptocurrency. The fact is that the disadvantages of government introduction of coins are far more than the advantages. When crypto is regularised, taxation will be surely introduced.

Indeed I understand your point here ,because the government regulations will come with a mixed effects , it can be good for the safety of cryptocurrency investors , it can also affect them as they are going to pay taxation to the government as well.
But the good thing is that you won't be bordered of getting arrested for using cryptocurrency.

 

[sincerem]

$500?, I know you'll talking about $500,000 per coin when all the countries in the world come to adopt BTC, let's see how it goes. I'm very much optimistic that such kind of thing will happen in the future that many countries will come to embrace when it starts producing the right dividends for the ones who adopted it first like El-salvador just did.

 

[Josemendez]

$500?, I know you'll talking about $500,000 per coin when all the countries in the world come to adopt BTC, let's see how it goes. I'm very much optimistic that such kind of thing will happen in the future that many countries will come to embrace when it starts producing the right dividends for the ones who adopted it first like El-salvador just did.

Seems I omitted to put the letter K at the front of the $500. My concern is that when this happens , people won't want to sell their bitcoin and small investors may not be able to buy bitcoin because of the price. I hope that in coming years , if bitcoin supply can be increased , then the world will adopt it without any concern of it's limited supply.

 

[sincerem]

Seems I omitted to put the letter K at the front of the $500. My concern is that when this happens , people won't want to sell their bitcoin and small investors may not be able to buy bitcoin because of the price. I hope that in coming years , if bitcoin supply can be increased , then the world will adopt it without any concern of it's limited supply.

I saw it, I knew you're talking about $500k. The future will tell where BTC will reach. I believe the more the adoption the higher the mining power will be, cos more miners will be recruited and trained. The reason why BTC or any other crypto is not moving to the expected mark is the lack of government support. Had it been the government supported it, it would've been on the high price.

 

[Sherman198]

It's ascertain that Bitcoin may hit that mark of 500k worth of price, if some countries adopt it but I don't see how all countries in the world will adopt it, with the plans most of the powerful countries are putting in place to nullify and oust Bitcoin, I don't see how they can adopt it. But I see mass adoption in most of the South American countries.

 

[sincerem]

It's ascertain that Bitcoin may hit that mark of 500k worth of price, if some countries adopt it but I don't see how all countries in the world will adopt it, with the plans most of the powerful countries are putting in place to nullify and oust Bitcoin, I don't see how they can adopt it. But I see mass adoption in most of the South American countries.

It always feels right to see BTC adoption from this countries that never get along since urs inception in early 2009. They've speculated enough, and saw that, their is chances of success around the digital coin, investing into it long time. Their are so many ways for them to earn through BTC, it brings revenue to countries you adopted it when they take it as means of investment.

 

[Sherman198]

It always feels right to see BTC adoption from this countries that never get along since urs inception in early 2009. They've speculated enough, and saw that, their is chances of success around the digital coin, investing into it long time. Their are so many ways for them to earn through BTC, it brings revenue to countries you adopted it when they take it as means of investment.

Seriously, very sad that the adoption is still very slow. Our country's government is shutting all doors for the masses to make money which is not encouraging at all. Imagine if there was no P2P trading, what could have been the fate of most cryptocurrencies traders in the country. I hope there is more freedom in the coming years.

 

[sincerem]

Seriously, very sad that the adoption is still very slow. Our country's government is shutting all doors for the masses to make money which is not encouraging at all. Imagine if there was no P2P trading, what could have been the fate of most cryptocurrencies traders in the country. I hope there is more freedom in the coming years.

That's sane feeling here to me, our government isn't caring about our progress to survive as individuals in the country, that's why they're locking every avenue that will enable citizens to make ends meet legitimately. If not for the P2P method I don't think it would've been possible to withdraw my earnings made online through crypto.

 

[Mika]

I am aware of El Salvador's adoption of bitcoin as legal tender, however, I was not aware of Paraguay trying to adopt bitcoin as the country's currency. I have never given a thought about what happens after 21 million bitcoins will be mined. But maybe the countries start using other coins as legal tender along with bitcoin.

 

[Destinyfejiro]

El Salvador decision to make bitcoin a legal tender seems to have prompted other countries towards having a digital currency , precisely cryptocurrency .

News gathered from cointelegraph shows that Paraguayan Congressman Carlitos Rejala and Senator Fernando Silva Facetti are going to present A bitcoin bill to the Congress on July 21. This is to see for a way that the country will capitalize on the potentials of bitcoin.

The rate at which countries are turning to bitcoin now puts question on what the price of bitcoin can be when all the countries of the world accepts bitcoin , considering that there are only 21 Million bitcoin to ever exist. It means then , that they price of bitcoin can soar up to $500k because the demand will be far greater than the supply.

I think it is better to expect this while being careful in case the reverse becomes the case.

This seems more of a good news than a bad news to me.... Keeping in mind that the amount of Bitcoin is remaining isn't much either ....so if all this gets to work out I'm positive that btc will definitely reach a new ath and worth over $200k

 

[Josemendez]

I am aware of El Salvador's adoption of bitcoin as legal tender, however, I was not aware of Paraguay trying to adopt bitcoin as the country's currency. I have never given a thought about what happens after 21 million bitcoins will be mined. But maybe the countries start using other coins as legal tender along with bitcoin.

The fact is that when this happens , bitcoin will be very costly ,infact the 21 Million bitcoin is not enough for three countries , so if more countries adopts it as legal tender , it will be very costly in such a way that the poor people cannot be able to afford it. Using it as a payment method becomes a burden as well.

 

[Wisdom01]

think the crypto acceptance by elsavador is really contributing positively to the growth of crypto currency in other countries like Paraguay for instance , because the acceptance is giving them more means and confidence to accept the use of crypto currency since this pandemic have affected the flat currency of a lot of countries too so these is what they consider as alternative

 

[Alexandoy]

Let us wait and see if Paraguay will succeed with the adoption of Bitcoin as an alternative currency. El Salvador may be experiencing birthing pains on the Bitcoin but they will try to endure because it is a shame if they will revert the adoption. Anyway, Paraguay is a poor country that maybe they think Bitcoin can help them.