Bitcoin Forum

I was just fiddling with ChatGPTng and then I thought why not ask this AI "Which country is best suited to adopt Bitcoin in 2023? The answer it gave me was controversial. I never expected these countries to be on that list.

https://i.imgur.com/gA4M79Ql.png

I was not happy with the response therefore I went ahead and clicked on Regenerate response. 

https://i.imgur.com/Xld1WVJl.png

Again it was a similar reply but now it wrote me the reason why these countries are best suited to adopt Bitcoin. Do you think this prediction would be correct or do you have any other country in your mind? 

 

In my opinion, bigger countries should do so IF they will have the initiative. But what we are seeing are thirld world countries trying to engage simply because they are trying to benefit from this industry through taxation since this is becoming more popular to people. On the contrary, bigger countries are taking bigger mesure to do such thing because of the risks involved although they are more likely to be able to stand against market price volatility in this technology. Little by little, adoption occurs through third party wallets but it costs bigger fees which simply shows that countries are not yet ready for mass adaptation. But we'd go there eventually and as progress continues.

The fact in itself that third world countries (Switzerland excluded) are the only ones actively making moves to help bitcoin be adopted faster globally is a little concerning, at least for me. But then again it's been proven that most of the time it's the impoverished countries who would benefit the most out of novel inventions and concepts so I understand why they are hastily adopting bitcoin. In any case, bitcoin adoption is a little bit impossible to happen in developed companies because, well, they are developed and do not need the value of bitcoin, since their currency alone is powerful enough to shoulder their whole economy, This could change in the future though as you have said, when a rally of countries move towards the globalization of bitcoin.

I believe that those countries are already good candidates to become Bitcoin users. However, despite a media campaign by Bukele that paved the way for Bitcoin's rise in the country, El Salvador has not seen the expected success. It has been documented that adoption from the bottom-up, such as from the streets, is more effective, as seen in the Bitcoin jungle or Bitcoin lake. One beautiful country that may soon adopt Bitcoin is Lebanon. Following their financial crisis, people no longer have faith in banks and are turning to cryptocurrency.

Countries with high inflation rates, double digit will more suited to adopt Bitcoin in 2023 and future years. With Bitcoin, hopefully they can find solutions to handle their national debts.

https://www.visualcapitalist.com/mapped-which-countries-have-the-highest-inflation/

https://www.visualcapitalist.com/wp-content/uploads/2022/12/mapped-worlds-highest-inflation-rates.jpeg

I think adoption of bitcoin at this point should be about the numbers, we appreciate the smaller countries giving crypto the nord but now it should be about the "Big" numbers. Say if China gave bitcoin the green light all out this will be an instant bullish reaction to this news and that's what we await!

El Salvador might be a case of lack of numbers that are ready to adopt this technology and I think the general population isn't that tech savvy too.

Not exactly. First of all, we must consider the population's illiteracy, which is not yet ready to manage this type of technology, even if there are schools that teach how to use it, such as "Mi Primero Bitcoin." Additionally, it should be remembered how Bukele's campaign encouraged the use of the Chivo wallet with a $25 airdrop, which led to millions of downloads from digital stores because $25 is not a small amount in those regions. However, a year later, Bitcoin adoption has not progressed, and merchants have abandoned their tablets with the Chivo wallet in old drawers and cannot even remember the password. This is an obvious sign of mismanagement, but it may not be the only issue, and we may need to wait a little longer to find out the real goal. In any case, I will leave you a link to two Italian explorers who did an excellent job documenting this trip.

https://youtube.com/@bitcoinexplorers

Still not any exactly country will adopt and make Bitcoin as legal payment currency after El Savador have did more than last one year, could be positive impact later if this year have country want to give space and Bitcoin become legal payment currency transaction. Until two months in this years seems not any indicates with countries want to make Bitcoin as legal payment currency transaction.

In my country have good progress with cryptocurrency after last two weeks minister of trade open public seminar and make discussion about how to promote or discussing with Bitcoin interested from our citizen, but still not any good news when Bitcoin will be legal payment transaction.

There are many means through which we can bring up some suggestions about the next country to adopt bitcoin as a legal tender base on the category of those that have already been showing interest and thise that doesn't give any notice about their interest, we can consider Panama for now, india may also be in next of line but there's no much on their interest as for adoption rather than it's usage only, we can consider the way Central African Republic from nowhere surprised us by showing interest and not only that, they with immediate effect adopted and make bitcoin a legal tender, while the attention was never on them for possible interest till they came up with such decision and implemented it without a waste of time, let hope we have more adoption this year and look forward to countries we least expect to also join towards adoption for a legal tender with bitcoin.

It's not a prediction but it's likely a fact that chatgpt gathered all over the web. And that's probably because of the news that has been seen before. I'm not surprised to see that it mentioned El Salvador.

But then, I guess it missed a country that we've been discussing even years ago where it has been friendly to crypto companies and people.

And that's Malta. I don't know if they've got new policies.

I never imagined any communist country would eventually adopt bitcoin, it would be very difficult. Countries like China and some of its neighbors are much more likely not to adopt bitcoin as legal tender because of their centralized government system. But I tend to expect all European countries to adopt bitcoin in the future as legal tender due to its high market share.

But it would always be possible to expect some Asian countries to adopt bitcoin as currency, but not in 2023. It should be a few years before they decide on the status of adoption which is still illegal to use as legal currency. Right now that I can think of some Arab countries, of course there is have big potential for them to adopt bitcoin in the near future, but one again not in 2023.

I am sure that in the coming years no major country will make bitcoin a legal tender. It's too much of a risk for them. While smaller countries, on the contrary, will take steps towards bitcoin and cryptocurrencies. I think Mexico could be a good candidate to be the next country to adopt bitcoin.

Any country can adopt Bitcoin in 2023.  With the increasing popularity of Bitcoin, I believe even a place that is not known to many will certainly appear on the map due to Bitcoin's popularity.   Prediction of ChatGPT doesn't guarantee any country given on the list will adopt Bitcoin as a legal tender.


It is obvious, every year more and more countries are getting interested in bitcoin so definitely those who see the real potential in Bitcoin  will surely adopt it either by mode of payment or legal tender.

El Salvador has already adopted bitcoin, so it shouldn't be on that list by the AI, anyway. Switzerland is directly related to banking system, economics, since it's the destiny of many wealthy investors and professionals from the banking, financial system. Singapore is a technological pole and Ukraine has been trying to improve their economy during a war, what must surely lead politicians and regulators to open their minds to suggestions and possibilities, including bitcoin adoption through friendly laws to its usage.

As I see, all of them are possible countries to adopt bitcoin soon, although it's impossible to say if it's going to happen by the end of 2023.

It's a pretty controversial question as well that ought to be followed or answered with another controversial answer. The nations to make out the prediction remains too wide and with all the majority of the nations of our world not being crypto friendly, it makes a hard choice to pick.
Perhaps, if you limit the search based on certain elements to sort out for, the system could narrow it down and give you some results that would be more concrete.

I think the nations to tha should look towards bitcoin adoption the most are rge over populated once, nations mostly affected with inflation and those whom are having difficulty with making fiat available for its citizens.

Here its been summarised about the incidents that have taken place with bitcoin adoption over the years. Based on the data available ChatGPT have pointed out El Salvador as the country to adopt bitcoin first. Switzerland is much positive about technology as well as bitcoin. Singapore being friendly to blockchain technology and other form of advancement the country have adopted the technology. Ukraine started its usage in its hard time and for the time being funds collected are kept aside for the benefits of its suffering citizens.

Big rich countries will likely be the last to adopt Bitcoin in a meaningful way. Speaking of government/business of course, not people.

Because big rich countries have their own strong currencies that gives the government lots of power and they will probably provide more legal/regulatory road blocks to Bitcoin at first than smaller countries where the politicians see Bitcoin as actually something that could give the nation more power and riches. The big countries fear Bitcoin because the politicians see it as a threat to upend their power and wealth, while smaller countries see Bitcoin as an avenue to increase their power and wealth because currently they don't have much power and wealth. Thus we see third world countries more likely to be more friendly to Bitcoin than places like the US and Europe. In the big rich countries the politicians don't see Bitcoin as a powerful new technology to boost the economy but just either as a potential threat to their national currency or simply as a financial asset that should be regulated.

Like in America most people view Bitcoin as a risky investment, few have any idea about it being an incredibly powerful new money. But in third world countries people adopt Bitcoin because it is a path to financial freedom and sovereignty and can help them get their money away from corrupt banks and governments and away from weak national currencies.

Basically, rich countries have it too easy and are too powerful and so they don't get the point of Bitcoin and at worst think it is just a threat and don't see the upside. While poor countries understand the importance of Bitcoin because they have a poor economy / weak currency / no good options for saving so they are more living in the real world of tough finance and Bitcoin is a beacon of freedom to them.

I expect there will be many smaller or third world countries that adopt Bitcoin in a more serious way before we start seeing any major western countries get friendly to Bitcoin. Just look at what the SEC is starting to do now with crypto, just blindly going after crypto companies not for protecting customers, not for safeguarding the industry with common sense rules to promote it to more people and help it grow the economy, but just to apply old rules to a new system where those rules don't even make sense just to clamp down on something new that the regulators don't understand because they don't live in an environment where they see the need for such a powerful freedom-giving monetary technology.

I think the reason why the developed countries have a push back for Bitcoin adoption is not on the ground of risk assessments but it is more of a defence of their economy and currency since most of them already know the positive disruption Bitcoin will expose their economy to and how their citizens will become financially free due to the alternatives options that Bitcoin brings to the table for it users.
-The countries that are already taking steps to adopt Bitcoin like El Salvador are looking for an alternative means of connecting the economy to global financial tools different from the traditional financial system.
-Using Bitcoin as an escape root from the IMF holds on many countries' economies mostly those countries with high debt profiles are in this category.

I will simply go with the bot's predictions, I thinks the probability of those countries making bitcoin a legal tender is very high, for example, Switzerland, like the bot said, have given a lot of operational licenses to many cryptocurrency projects and exchanges, that alone is a clear indication that they not against crypto, so also is Singapore.
Ukraine on the other hand have benefited greatly from cryptocurrency, the donations they received at the initial beginning of the war between them and Russia, was all done through bitcoin and some other major altcoins, so I don't this country to turn away from cryptocurrency after the war is over, they are likely to make bitcoin a legal tender if they end up becoming an independent country on their own.

Answers provided by AI have no value, they are just some sort of average of answers given by humans on the public segment of the Internet. There is no original though, no conscious effort, no intelligence. Often times if you read carefully what AI produces, it's just nonsense, but it's got to a level where it's grammatically correct, so at first glance it looks impressive.

Predictably, ChatGPT performed a one dimensional analysis and gave you the first country it could find with Bitcoin legal status, which was the country that has certified Bitcoin as legal tender.

Of course, it is completely irrelevant whether crypto's utilized as legal tender because that classification, or lack thereof, does not dictate whether it can be utilized as a core currency in a country.

It's probably true that some Latin American countries would be quicker to adopt Bitcoin than westernized countries because of the stringent regulations, though. I would infer that westernized countries would be the first to "ban" Bitcoin if they ever got the chance.

Third world nations are in better position to to utilize the adoption of bitcoin into the their economy as part of economic diversification that can boost their GDP in the process. It's high time African countries tap into this initiative like the likes of El Salvador https://www.crypto-news-flash.com/bitcoin-can-help-all-nations-el-salvador-able-to-pay-back-an-800m-bond-because-investment-in-btc-brought-money-to-the-country/ that are gaining advantage from their adoption of bitcoin despite the risks that may be involved.

As far as we understand chatGPT is all about collective information available over World Wide Web. It was very reasonable that it will tell us about El Salvador considering the available info and all the keywords connected with El Salvador (bitcoin, legal tenders, payment processors, government bonds and investment in bitcoin and much more).

So asking AI was funny move here. Also even when I just read the title, my conscious mind itself started saying “El Salvador”, and I think we can safely state that AI was good at answering. 😜

Moreover, as bitcoin maximalist I would love to see every country adopting the bitcoin. This will boost infrastructure everywhere and it would be easy to penetrate bitcoin and have that legal tender order for borderless payments.

Not because of strict regulation, because with their economic growth, they don't need bitcoins, adopt bitcoin is just a threat to their national currency. While Latin American countries are poor countries, with high inflation, and they have almost no solution to revive the economy, and bitcoin is a suitable option for them.

ChatGPT's data only goes up until September 2021, so it misses one year and some months. Also, it's not really an artificial intelligence, it's just an improved version of search engines that is capable to take information from them, filter and provide to you in human language.

If there is any country that truly implements bitcoin, it's El Salvador, for instance, they even plan to open Bitcoin Embassy in the USA. But I don't really understand why is this country so praised and why it become an idol worldwide. El Salvador is full of corruption, full of gangs, full of violence and full of high crime rate. Is anyone going to ignore everything listed above and travel in El Salvador for the sake of Bitcoin adoption? I don't think so. Are companies going to open businesses in El Salvador because of bitcoin adoption? I don't think so. They won't find necessary amount of local people that will meet their criteria and I genuinely believe no one will wish to relocate in El Salvador because of violence and high crime rate.

So, why is this country still an idol for people? To my mind the only reason they implemented bitcoin is that gangs can't carry cash all the time, gangs can't use banks also, so crypto is an only option for them to change physical currency. Don't blame me for saying this because it's true in this case! Gangs have the gov by the balls! Bitcoin is also beneficial option for local politicians to avoid future international sanctions.

Bing pretty much has the same answer, although newer data to work with.

https://storage.googleapis.com/openscreenshot/C%2Fe%2F1/AlNSoX1eC.png

I think all countries have the right to adopt bitcoin, not only for ruling countries and poor countries but all countries on this earth.
what is being considered is when the government of that country can accept btc for payment and whatever, that is the question
i hope malta is the country that catches up with elsavador to adopt btc not china or USA

Of course they have the right to adopt bitcoin but this doesn't mean they will adopt it given that bitcoin for them is pretty uncertain and is still a gamble if they adopt it. There are countries that fit or viable to adopt bitcoin such as El Salvador. El Salvador is using US dollar as there main currency and adopting bitcoin as an alternative type of currency to them is good because they won't rely so much on US dollar anymore. There are still disadvantage in adopting it. As we see from the last crash, El Salvador citizens who don't have an idea on how volatile bitcoin is greatly affected by it. Adopting it is a gamble but countries such as El Salvador is on it's step toward the future.

But bitcoin is not only suitable for adoption by countries that do not have their own currency like El Salvador, but is generally suitable for adoption by any country even if it has its own fiat. Bitcoin had wide range of real use cases when it was adopted, it could also help users save moderate or large amounts of financial transaction fees so it is not just limited to means of payment.

I will still support any country that wants to adopt bitcoin, but of course I don't really expect it to be adopted by many countries verry soon. The regulation and mindset of the government towards bitcoin must be changed, it is far more important to be the main thing to think about.

ChatGPT didn't make any prediction, it only extracts all the information it found online that related to your question and if you read the response answer well you'll see that it only provides the history and record of the countries when it comes to blockchain, crypto, and technology. If we are to list the countries that are best suited to adopt Bitcoin in 2023 the list cant be complete if we don't include South Korea since it's one of the most crypto-friendly.

That's right, AI just has a huge database that is not even up to date and based on that it creates answers like this. Although everyone immediately remembers El Salvador because it is the first country in the world to declare Bitcoin as legal tender, data shows that the rate of real adaptation in that country is even lower than in some other countries that no one else actually mentions.

I don't see any specific country as the "best" in terms of the question posed by the OP, because the whole thing about someone looking at the success and adaptation of Bitcoin in a country through how much a country supports it is not something that should be the most important in the whole approach. Asking permission or legitimacy from politics/state to use Bitcoin is a bit absurd, because not even Satoshi contacted the FED or ECB and asked their opinion - their opinion is known to everyone anyway.