Bitcoin Forum

Costa Rica is trading on eggs market with bitcoin. The government of Costa Rica advise citizens to increase sales of eggs for nutrients and exchange of bitcoin should be allow to increase it demands in the country.

This is good news despite the situation of bitcoin some country still believes in it and wish it to spread viral. If integration of nations can advance the value of bitcoin like Costa Rica, we can build a stronger economy

Soon South America will have highest number of countries legalising Bitcoin. El Salvador started it, Guatemala, Paraguay, Brazil, Costa Rica and others are moving well towards it

Yes it is a good news, but can you provide the link about this that we can read? I want to read more about it.

El Salvador is in North America, not South America. Some countries only legalized bitcoin for it to become a taxable asset, I prefer to be in a country that do not completely ban it.

The story is quite interesting, and if you were as curious as I was to have made a search, then you will discover there is no headline of such. I'm just curious where he got this information.

OPs, please add more information about this headline to your thread or a link.

For a few moments I thought about Easter eggs! But I didn't understand the connection between eggs and bitcoins: from what I understand it is a suggestion to increase subsistence agriculture, in which I doubt innovative currencies such as bitcoins will have space. Could you post the news?

I saw a similar video tweet from Bitcoin Magazine on Twitter earlier today. https://mobile.twitter.com/BitcoinMagazine/status/1643012333235580928/mediaViewer?currentTweet=1643012333235580928&currentTweetUser=BitcoinMagazine
 
Costa Rica is a Bitcoin-friendly nation; the country already has about five or more Bitcoin ATMs that are publicly accessible. They have been revolving around in a few ways trying to promote and adopt the Bitcoin currency in their possible ways, which I find interesting, and I think it will really be of great interest if they can allow that going with a bigger move like trying to impose the use of the currency on the people or using any means to regulate it within their jurisdiction, which will give them a way to tax all Bitcoin-related purchases in the country. 

Just as @_act_ said, it's really better for one to stay in an environment where its citizens are crypto-friendly but the government is neither against nor for crypto. That will really pave the way for freedom from tax law and other monitoring policies that might be incurred from that. 

OP, everyone wants to get a link to the news so they can verify its authenticity. Such information about the global acceptance of bitcoin is extremely important and valuable to share. If the Costa Rican government wants to improve the use of bitcoin in the country through agriculture, it is a welcome and appreciable step, even if it is only through one sector of the country's economy.
Having such acceptance gradually increases the likelihood of its global adoption occurring soon.

El Salvador isn't south american country, it's central american country region in north america, same as Costa Rica, so, they're not south american countries. But, well, hopefully we will see a high adoption of Bitcoin on the continent.


These are the sources:

9Gag - https://9gag.com/gag/abvALWO
Youtube - https://www.youtube.com/watch?v=_1QoHM9qLnk
Twitter - https://twitter.com/BitcoinMagazine/status/1643012333235580928
Twitter - https://twitter.com/BitcoinNewsCom/status/1630906674411126784

It is a video that is on the Internet about a grandmother who accepts Bitcoin payments from someone who buys her eggs. Legally, Costa Rica has not made Bitcoin as legal tender there.^[1] And maybe the grandma will get in trouble for accepting payments other than CRC (Costa Rica Colon).

Reference:
[1] https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory

Bull*****
This kind of clickbait fake headlines are destroying everything nice about what should be normal good news is making people not trust a thing anymore.

It's one person in a market that has decided to accept bitcoin for her products.
The government has nothing to do with it, there is no such government proposal, and how the hell would even be possible for the government to ask citizens to sell eggs for bitcoins? What would the benefit be in this since from their point of view since it's simple coins changing hands without taxation?

This is one perfect example of LN doing its thing, despite all the fearmongering about mempool full, attacks, fees more expensive than a cup of coffee and it's great that we see it in practice but to go fully nutcase and think the government is demanding BTC for its citizens balls eggs is just nonsense.


So are Costa Rica and Guatemala, with just 12 countries on the continent it will be a wonder for South America to lead the pack in a number of counties legalizing Bitcoin but don't expect people to dwell that much on the subject, if the name sounds exotic then it must be somewhere in the Amazon.

It would have been more appropriate if you'd inserted the link to this nee development, this is actually going to be interesting because in doing so, the government also encourages using bitcoin for payment or as an exchange goods and services, and with this recent endorsement, we may conclude on adding Costa Rica among the list of countries where bitcoin is likely to be adopted this year base on this.


There's no any bad situation attributed to the adoption of bitcoin, it has always been a preferred currency despite the challenges of different attacks as opposition against the decentralized network.

You can't eat your wallet can you? I admire your trading skills.

Coming from a master trader.

Admins and mods love me.

Edit: The Avatar is a bread mixer and baker machine.

I guess, other countries will like to follow the step of Costa Rica government to increase their economy too because, many countries that see BTC as a scam currency based on what they heard till they Carry out their personal research to discovered that BTC can do a lot of good things to the citizens. In five years time, I believe the citizens of Costa Rica will be doing massively well like citizens of El Salvador because, they are the first country that made BTC legal tender to help their citizens to grow their businesses.

With time BTC will dominate global for other countries that banned BTC to unbanned it so that they will be free from this high inflation that is affecting many countries economy.

Though might not happen soon, but my prediction is that bitcoin will sooner or later become the number one and the biggest internet money, it will become the number one means through which individuals can buy and sell, transact, send and receive money through the internet..
Fiat might still be in use, especially for those who might not possess the level of knowledge needed to transact in bitcoin successfully, and also for those who might be making smaller payments like in cents or lesser, but in all, bitcoin will become a major means of sending and receiving, paying for goods and services through the internet.

I’m not really sure about the subject matter of this thread being eggs, but there is no doubt that facilitating trade in bitcoin opens new doors for merchants. It’s great to read that Costa Rica is becoming a place where Bitcoin trade is being normalized and I think as time goes on we’ll continue to see more adoption not just in small countries like Costa Rica, but also larger nations.

Do you mean eggs from a poultry farm? and the payment for the egg is bitcoin? is that right? If this is how the trade is happening in Costa Rica, this is another good development for bitcoin and another edge for bitcoin enthusiasts too of course.

    It also means that bulk or bulk eggs are also ordered, so it's okay if you pay bitcoin to this egg seller. It's the first time I've heard this,
and I haven't even read it in any article here in the crypto industry.

I already thought about it that is the subject matter yhe egg we know about but when the topic creator said about increasing nutrients among the citizens of the country, I then believe that it is eggs that he actually mean.
But how will they trade a physical products with bitcoin or is any code written to represent the eggs on the blockchain where it is traded and exchange or any other platform?
Or is it simply paying for egg with bitcoin?

I would also want to need a link to read more about this topic.

That is very good news for Bitcoin, but why don't you provide a little resource here so people can read it in plain view? Because I was just researching this and I found a bit of news related to what you're saying here on news.bitcoin.com (https://news.bitcoin.com/costa-rica-might-be-the-next-country-to-establish-bitcoin-as-regulated-currency/) where it's explained that Costa Rica May Be The Next Country To Designate Bitcoin As A Regulated Currency. However, I did not find any egg traders who have accepted Bitcoin as payment on the site.

I think the topic of the op  is totally different from what is on the source of information as provided by@ fathafraink, am still trying to see where Costa Rica is mentioned as a country using bitcoin to make transactions in the egg market rather it's a clear picture of a grandmother accepting bitcoin in her egg business that is an individual thing not the Costa Rica as a Country.

news regarding Costa Rica introducing Bitcoin as legal tender dates back to the end of last year. it looks like the Costa Rica government is really serious about developing an update to the Bitcoin payment system in their country. they have studied a lot of existing problems, and it is hoped that the use of Bitcoin will attract many larger transactions in certain productive trade sectors of Costa Rica. this is a form of effort to strengthen their economy. the government of Costa Rica has good and forward-thinking.

Oh thanks for the Correction
Those that means they see Bitcoin as a type of investment?

There's one thing we always misinterpretes concerning Bitcoin. It can not be used in developing countries because the whole system of cryptocurrency might crashed down due to the poor state of the country economy. Bitcoin will not operates fully in most African countries because the government impose strict bans on crypto because they're frightened that it will surpassed their fiat currency and giving more volatility to the country economy. Costa Rica is quite stable interms of budgets of the country and they're among country aiming for the best for their citizens. A welcome development for Costa Rica and the country will improved positively and a strong economy will triggered into action.

the use of Bitcoin as a medium of exchange depends on people's willingness to accept it as a form of payment.  While there are many people who believe in the potential of Bitcoin, there are also many people who are skeptical and prefer to use traditional currencies such as the dollar or the euro.If Costa Rica can increase the demand for Bitcoin through the use of eggs, it will be interesting to see if other nations follow suit.

That is a very good development by the government of Costa Rica, making the use of Bitcoin easily accessible by everyone in that country to the extent of even trading eggs for Bitcoin. However, both El Salvador and Costa Rica are two countries not that far away from each other, of which they are likely to be next in line of the number of North American countries that have officially adopted Bitcoin as legal tender.
Secondly, I see no reason why not to stay in a country where Bitcoin is fully legalized, because as a good citizen, it is our duty to pay task and not run away from our basic responsibilities, in as much as government uses that for the good of everyone in that country and not embezzled the funds.

I understand that it's only specific for trading bitcoin<->eggs but there will be more to it soon.

But that's a good news and bringing good vibes to the market and for Costa Rica. That's a nice approach by the government since it's a consideration that bitcoin = money for them if they allow it to happen.

Aside from that trade, this will open the idea of other citizens that why is it just only used for trading egg. They can also use it for their other goods and commodities since they've been considering the acceptance of bitcoin to trade for their eggs.

Great news indeed, it seems like the government of Costa Rica is looking for a better alternative to fiat. Buying Eggs with bitcoin will not only make bitcoin more demanding it also increase the adoption rate among normal people of that country.

I hope every other country is going to make these kinds of steps to adopt bitcoin and cryptocurrency into their financial system. 

Yes, it seems the OP gave wrong information regarding Costa Rica as a country that legalizes Bitcoin for buying eggs as example there. It's nothing more than click bait or indeed a lack of further tracing from the OP. I believe the OP can't provide the source of what he says " The government of Costa Rica advise citizens to increase sales of eggs for nutrients and exchange of bitcoin should be allow to increase it demands in the country ".

I can't wait for Costa Rica country will follow El Salvador which will start treating Bitcoin as legal tender, which means Bitcoin will become a currency that is accepted by a government as payment for debts, taxes, and other financial obligations is known as legal tender.

From what I have read, it seems Costa Rica situation is the same with El Salvador before they adopted bitcoin as a legal tender. In Costa Rica the US Dollar is used in addition to the Costa Rican Colón. I can therefore infer that their currency is weak. So, I think they are taking a cue from El Salvador, but they are trying to take it one step at a time. I saw on YouTube someone actually paying for eggs with bitcoin. The striking thing is that the seller was in her sixties. Bitcoin in transactions is surely easy to understand. I hope to see what's next for this central American country.

Well, allowing people to pay for eggs are one step closer to allowing people to use it as legal tender.... right.  ;D  I think it is a trial run to see if it will work or not and if people will actually use their bitcoins as a currency.

I think, if all the governments of the world start accepting Bitcoin as legal tender... more than 80% of the world will still hoard their coins and use it as a commodity to trade and profit.  ::)

I am not sure if the given source which was published by Bitcoin Magzine is true or not but that is an interesting way to attract people. If Costa people are into Bitcoin then definitely it will help the Government to boost the eggs sale while on the other hand, Bitcoin adoption will also rise with time. Obviously, this is just local news if it is true and it's gonna have a micro effect on the entire Bitcoin network.

As long as the news does not spread out like a fire with valid sources, it is going to stay in the costa rica itself. Imagine the effect if they start giving away a coupon for every nutrient diet the locals follow. May be they should add bonuses like, using public transport and earning X satoshi or something similar. Could boost the adoption.

It is very nice to know that Bitcoin is now going legalized in different countries. This has a very big impact on Bitcoin, especially on other altcoins. Most of the people who know about Altcoins, they know about Bitcoin first. The design of Bitcoin is that the price will continue to rise due to its limited supply. It's price will increase if the demand also increases. That's why the exposure is very helpful in increasing its value. Since Bitcoin is not legally accepted in all countries, this is a great opportunity for us, those who have small businesses that accept Bitcoin payment. It's even more advantageous if you do accept Bitcoin payment in your business now than the next time it's accepted globally because the price is so high. So because its price is very high, as well as its market cap. So the volatility of it will decrease, that's why it's also one of the things that interest many people who enter the crypto space, volatility.

The citizens will benefits more profits from bitcoin when the country accepts it as legal tender and they're developed country already. Bitcoin is popular and generalized form in the space. It's acceptable and legal interms of payment of debts and running the affairs of businesses. Costa Rica will follow the footsteps of El Salvador in making bitcoin a legal tender in the country. Business transactions will go smoothly in the market because bitcoin is legit and very fast interms of payment transactions, incomparable to the fiat currency.

Ive also seen a video on it in social media about vendors accepting bitcoin as payment for the eggs they sell, but I can't recognize the app they used. It is really nice to hear this kind of thing because that country will really legalize bitcoin once they accept it and do transactions on it. What amazes me most is that, for sure, most merchants, even small ones, will be more technologically literate.