Bitcoin Forum

When do we hear news of presidents gifting cryptocurrency to a fellow-president? I hope he installs any ledger wallets and becomes a fanatic! :D IMO, making it easy for these businesses to use blockchain/crypto is key, some of these kiddos still have no idea about the technology too. I hope simple integrations as what NEM Symbol APIs have done with Lithuania's President can open more doors.

These small moves can help wide-spread adoption 100%. Blockchain technology is still very vague, especially to the older generations.

It's a great first step I guess. We'll have to  wait and see if there's a point a G7 country does this to another because that'd be extremely notable...
. I haven't heard about Lithuania being cryptiphillic but I think it was going that way.

It's not a cryptocurrency, it's a digital currency, there is a difference. They make use of the word crypto because it's swag in 2020.
But in reality, it's a state currency and not P2P without a central bank. You can buy it from the Bank of Lithuania and if I'm correct you can not store it, the B of L does it on your behalf.
It's a coin for numismatists I think.

It's like if you buy a car and the seller tells you: "You bought it but the car stays here"

FYI Estonian president is a she. And the gift wasn't some popular crypto like Bitcoin or ETH, it was collectible government-issued crypto coins called LBCOIN. It's not meant to be used for payment, it's just a collectible, you can read about it here (https://www.lb.lt/en/digital-collector-coin-lbcoin). So don't view it as some sort of sign of official adoption for Bitcoin - this wasn't even about crypto, it was more about "blockchain technology".

Cool nonetheless. I think what is more important for us to see is that Lithuania and Estonia's president initiate dealing with the blockchain tech. Take note that those two are not just ordinary people, they are presidents — the man with greatest influence within a country. Thus I'm feeling good about this, their citizens will surely get triggered by this news and now get into crypto as well. And as a result, our community will grow further :).

It's still a good gift tho. This somehow spreads awareness about blockchain technology. Especially during the pandemic where blockchain can really be useful in many ways. Looking at the details of the gift it's really worth keeping and unique.

That's a very good news, because when officials from the governments gift crypto!, then surely that means those governments are pro-crypto and helps to make contributions towards growth of crypto in the larger world. Hopefully, this trend will be adopted by many countries and people should know about the good things of crypto and blockchain!

See , we have seen in the past people gifting cryptocurrencies , this for sure can improve what others might think about them and at the same time create a more progressive era.

Two of the examples:

1. Ellen Gifting Cryptocurrency for Charity on show
2. Warren Buffet receiving Bitcoins as a gift
 
_*_
But Warren Buffet wasn't a good sport to have received Bitcoins since he does not like the whole idea of cryptocurrencies as a whole but in This case I do believe that the president will for sure make a good use of it .

_*_

Other than that when politically significant people do make little moves in the right direction it does inspire other people who follow them to actually do the same , over the years there have been celebrities who actually endorsed the cryptocurrencies.

Example:

Snoop Dog wanted record available to be brought in Bitcoins
Paris Hilton
Bill Gates
Elon musk !!! Etc

_*_

https://aboutmanchester.co.uk/11-celebrities-who-back-cryptocurrencies-and-may-own-millions-in-bitcoin/ (https://aboutmanchester.co.uk/11-celebrities-who-back-cryptocurrencies-and-may-own-millions-in-bitcoin/)

For full list you can go here ^

_*_

This is called using their fan following for good . :D

yep its not the first time where famous people had been on the news about their involvement in crypto.  just recently their twitter accounts were hacked and was used to scam through the giveaways. but we haven't yet heard of the head of the country. its best if its BTC though and not some other token.


so we hear. i remember some developers from that country AFAIK that were developing tokens.  LBCoin is created by a bank though.

No surprise though, as Lithuania is one of the Baltic tigers that are really open and very welcoming to crypto. And this gestures really proved that. And it seems that the country is really moving to a 'right direction' with this adoption specially blockchain technology.

Again, this is something that we should anticipate, and with this move I'm sure adoption on that country will continue to grow in the next coming years.

But make no mistakes about it, they are friendly to crypto, but they have crypto regulations even stricter than the EU's (https://news.bitcoin.com/lithuania-to-adopt-crypto-regulations-even-stricter-than-the-eus/).

Exciting to see such news, maybe is this just small step but in my own idea after increasing the crypto and bitcoin reputation in all over the world we will see more governments, investors and political men attracting to with magical world. After increasing the attraction we can see more capital on this market, hopefully.

If this connection really continues to affect more world leaders, bitcoin community will celebrate!

This is a unique gifts between two Presidents and what we need right now is adoption, and this is a sign for it.

I think their next step should be making transactions with the use of bitcoin, or making the economy grow with the use of cryptocurrencies. Hopefully, all of the presidents are knowledgeable about the benefits and importance of bitcoin in our economy and community. Still there are a lot of people who are thinking that bitcoin is a fraud, which is not.

I'm pretty sure that most Estonians and Lithuanians, like any other people on Earth, don't tract every single movement of their president and don't immediately follow any trend proposed by their president. It's very common in crypto to expect some adoption boost whenever crypto gets new publicity, but practice shows that it never happens. If you go to google trends, there's absolutely no correlation between this event and search terms like blockchain or bitcoin in Lithuania or Estonia.

A lot of blockchain and crypto exchange projects have sought their Estonian license because of the ease of getting from them.
So this small gesture is not surprising and the Estonian President I assume, he is open arms with crypto projects.
I hope those countries that are still banning crypto will change their minds and be accommodating with crypto transactions.
In general, this will benefit their citizens now that we are still in crisis. People need to find alternatives on how to earn money.

I do not really understand what the intention was here but I think this is a great way to increase adoption. If one nation allows bitcoin or generally speaking crypto to exist in that nation with full support and spreads that same feeling towards other nations as well that is a great thing.

The first thing a president or anyone who is in the lawmaking process hears about crypto is a very important thing, if they hear about it like "hey there is this new thing called crypto and it is great because..." that would make them be more supportive unless given any other reason, however if they hear "there is this new thing called crypto and it is horrible because..." they would be against it until given a reason not to and that would take us longer time to make them accept it.

I don't know but I think this collectors digital currency is different from a usual cryptocurrency. I mean that LBCoin is a state-backed digital currency and It has physical forms they call it a silver coin that resembles like a credit card. You can even buy it in the bank of Lithuania.
However, it's a blockchain based currency, so that makes it more of a cryptocurrency, but I really doubt LBCoin has different purpose from a usual cryptocurrency.

I think the intention is very simple, promote bitcoin in there country, imagine Obama gifted Trump crypto I'm sure it will send a strong signal to the whole world.


First, Estonia is very small compare to other EU nations and maybe that's one reason they started to welcome to attract investors. Second, it looks like very successful move at they have attracted a lot of startups with their progressive approach. However, they are amendments on their crypto regulations, it strict so I don't know if projects are going to move there or choose other crypto friendly nations. Specially with the money laundering scandal that rocks EU recently. But it still good that they remain very supported of bitcoin and blockchain technology.

A good start up if they do able to see cryptocurrencies actual usage and benefits compared into its cons or negatives but we know that these kind of positive approaches can turn upside down
one day thats why im not really that much excited nor hoping that they will really be going on positive inputs towards crypto but since they had started positively then most likely they would end up
on reconsidering this one.Its really a good news for adoption, further recognition will vary on how they would research things up even more and imply it into their vicinity.
Its a good step imho.

It is actually not surprising because those two countries are open and welcome to the cryptocurrency world. As we can see in these following.

However, of course, this can be one of the inspirations for many more countries that cryptos are actually acceptable. Even there may be not certain regulations, the acceptance of crypto in each country will support the development and also adoption of the crypto or even the blockchain technology. Many sectors can utilize the crypto or blockchain technology, moreover related to the business. As you said, it will be very useful.

https://complyadvantage.com/knowledgebase/crypto-regulations/cryptocurrency-regulations-estonia/
https://www.ecovis.com/lt/fintech/licensing-solutions-blockchain-cryptocurrency-tokens-ico/

yupp we heard that (https://www.lb.lt/en/digital-collector-coin-lbcoin) at least it lift up the cryptocurrency in it .. the rumor has it that these digital collector LBcoin launched on purpose to see whether are they really need to issue a real digital currency that works just like fiat.

I love seeing this kind news , a progressive one to turn cryptocurrency into a mainstream world.

Wishing that more European banks doing the same on developing blockchain technology through cryptocurrency, they would do it I'm sure. Just the matter of the time tho.

This kind of news should be broadcast in public so people will know that bitcoin is a good asset.

An open minded leader is a key to success, if he understands us, those people who are using cryptocurrency, then this can bring a huge advantage in the future. This is a positive action and mindset that a leader should have, it will probably make a good reputation for bitcoin although it has really a good advantages and benefits to the people.

Proper manipulation, adoption, and utilization can increase and widen our community so always promote and support it in everyday lives.

The EU nations in general have some of the most liberal cryptocurrency laws, when compared to the United States or Latin America. And it is surprising because only a small fraction of the cryptocurrency ventures (cryptocurrency exchanges, investment sites.etc) are based in Europe. Even if you look at the ICO sector, only a few are based in the European Union.

Also the baltic nations are highly advanced in terms of internet. Due to adopting the EUR and being heavily funded by the European Union the countries got their infrastructure completely newly build in the last years. It's very good for the small nations with a small population to be in the EU because they get proportionaley higher benefits and voting rights.

Estonia is rank #13 and Lithuania rank #21 in the Digital Quality of Life Index.

https://en.delfi.lt/lifestyle/lithuania-rises-to-21st-position-in-digital-quality-of-life-rating.d?id=84998193 (https://en.delfi.lt/lifestyle/lithuania-rises-to-21st-position-in-digital-quality-of-life-rating.d?id=84998193)

No wonder that crypto currencies become even attractive for the presidents.

Unfortunately, the Lithuanian president did not give a gift in the form of popular crypto to the President, but instead a collectible
crypto called LBCOIN. Although it is not a sign of adoption for Bitcoin, at least blockchain technology is gaining in popularity. I hope
it's Bitcoin's next turn which is used as a gift, if presidents between countries give each other Bitcoin as a gift it will be much more
interesting news.

But still we crypto enthusiast consider this as a sign that crypto is being recognized by those two nations. Blockchain technology is also very popular on those baltic states, and it seems that their government is really advance and very liberal in terms of their support to crypto or blockchain. And if you live on those countries, you are very lucky, unlike some other states around EU that has some sort of negativity towards crypto and thinks that it is being used only by criminals.

It’s a rare moment in the crypto space where two presidents from different countries are sending and receiving crypto from each other. In this act alone, it promotes a huge step towards mass adoption and awareness of cryptocurrencies and blockchain technology in both Lithuania and Estonia.

Here in the Philippines, it’s a crypto-friendly country but image and reputation are ruined because of these scammers using crypto as front to lure more victims into their trap. I could imagine if our president himself was also gifted with Bitcoin, it would be huge awareness for us.

Definitely a nice thing to see.

Both Lithuania and Estonia have put in a great deal of time, money, and effort to position themselves as global hotspots for blockchain talent and startups.

I think that these two countries, along with Switzerland (Zug in particular) are going to reap the rewards of being early on the blockchain race, and should see their investments pay off in a droves in the near future.

If only we could see US President Donald Trump and Chinese President Xi Jinping do something similar  ;D

There's no LBCOIN in the market and the tweet confirm that It's a coin for numismatists it's more of a memorabilia coin but it's very much close to Cryptocurrency I guess they have an idea on Cryptocurency maybe one day they will create their own Cryptocurrency since they are promoting this stuff.

It is really good, and this move is going to make huge impact on how Bitcoin is being adopted in Lithuania.

As long as it’s something that has to do with the president who is the first citizen of the country, it’s going to go viral and a lot of people in those two countries, whether they know about cryptocurrency or not, are going to hear about it and start talking about it, the media is also going to be carrying the news and that’s a boost for cryptocurrency.

After that, investors in those countries are going to be interested in it. This is one of the best things I am seeing this month, and especially now it seems that the price of bitcoin is preparing for a run up.

Good to see that in gift something similar sort of thing was given. Would have being best if bitcoin was given as it would mean to promote as well and across world this thing would have bring in the news and might also become the trend in coming time when in gift bitcoin could be used it.

That's stupid, how can it be "so huge" for Bitcoin. See yourself right now, does it bring something positive to Bitcoin? Zero, nothing. Do the media outlets have been talking massively about it? No just 1 or 2 articles here and there, 30 seconds on TV, and voila.
Secondly, this is not a cryptocurrency, it's a collective digital currency, for numismatic.

Do you think investors in the country would be interested to spend money on a collectible coin that can not be spend?
The best thing you're seeing this month? LOL, this is full of shit.

So I started searching what “LBCoins” are and why the Bank of Lithuania is issuing it and the thing I found out is thdy are not cryptocurrencies but more of a digital collector coin that also has a physical version of it as also explained in their announcement video (https://youtu.be/zDfjLU6cemY). So I don't think its a crypto related news but more of a blockchain related news since their collector coins uses blockchain in keeping track om the digital versions they are releasing.

That was incredibly something new to be known for it is unusual for a person to receive a gift like crypto and also unusual for a person to give crypto as a present specially knowing that it is a respected leader of a certain country. But it is very good to know that this have happened because it is a simple and very small step to start up with introducing cryptocurrencies to the Estonian president with the act done by the Lithuanian president. Looking forward to see that coming from this it will create a good relationship between those two countries as well lead to the mass adaption and recognizing of cryptocurrency usage.

I believe if it is digital currency that means it is not really crypto and when it is not crypto it really doesn't matter to people all that much, not to our market. Estonia is also already a very digital place, you can stay in your own nation without traveling to Estonia, build a digital company there, like maybe a crypto exchange, and you can basically be based there with an office in your own nation and you would literally never leave your chair while doing that.

This shows you that there is really no need to make it a lot more for Estonia, however if this was done towards some nation with a president who doesn't like digital or crypto currencies, I would assume that it would really work because it could change their perspective when another nations president gifts them.

I believe that this situation, when one politician gave another politician a certain amount of cryptocurrency, will not play a major role in the cryptocurrency market. But with regard to estonia, in general, we need to talk about a different situation where the relevant state institutions issue licenses that have been adopted in accordance with legislative changes that regulate the scope of operations with cryptocurrencies. According to these changes, new requirements arise for market participants, with an increase in the threshold for entering the market. That is, the situation can be explained in such a way that only big players with a huge financial resource and developed infrastructure can participate in the process, and all those who do not meet the above criteria will actually be forced to leave the market.

What great news for crypto lovers. This does mean that crypto has been considered for a long time by many politicians. I bet that soon we will see bitcoin and other coins be adopted in developed countries first. As you can see, Estonia is a great country with good facilities for blockchain technologies.

This year, we have seen many good signs that support digital money. Germany has also put some good laws for bitcoin which means it has been considered as an asset. This year is really a lucky one

We have to hear more of this kind of news, this is good for the crypto community, a leader could influence the other with a simple gift, and it will be written in the history as that transaction will remain in blockchain. I'm not so aware with how crypto is being regulated in these countries, but I have to say a leader of a nation making a bullish move on cryptocurrency.


And more to expect as crypto keeps going and adoption is happening.

Lol, that isn't likely to happen, although I do think it's an interesting choice of gift that was given here--makes me wonder if there's some kind of meaning behind it.

Then again, this also reminds me of Justin Sun's gift of Tron to Warren Buffett.  If I'm not mistaken, he donated it or otherwise got rid of it as fast as he could. 

Yeah, that would make more sense to give that as a gift than, say, bitcoin or ETH. 

So if it's a digital currency that you buy from the Bank of Lithuania and which they store on your behalf, what makes that different from Lithuania's fiat currency?  Now I'm curious as to what they're trying to do over there.

I still think even if it is not crypto and just a digital currency that is a lot of great work putting into currency going a lot more digital and that is what we really need, even if it is close that is enough.

Plus, these are not really that much of a big nation, I am sure they are great on their own, but neither Lithuania nor Estonia really matter in the financial world all that much, not like they are USA, China, Germany, UK or whatever else, there are basically some awesome and huge countries in the financial world, when those do it to each other that would really matter a lot, that would really change the world and make it a huge news in the news channels as well, but right now, this would make it news maaaaaybe in their own nation and maybe not even there.

I wonder how this gift is designed. Any gift to an official as a private person can already be considered a bribe or other type of corruption. But if the gift was presented from one official to another, in this case from the President of Lithuania to the President of Estonia, then this gift must have an official design and, accordingly, savings. I have not yet seen an official clarification on this matter anywhere, since the cryptocurrency should be recorded as a digital asset, as a gift or in some other way.

A progress made by presidden Lithuania using crypto. I think this is a sign that crypto can begin to be used by anyone and for anything, both personally and instinctively. I think of this as the acceptance of crypto in a government.

This was a good thing indeed that usage of cryptocurrencies are starting from the great leaders of two different countries which I think will create a great impact between two countries and would influenced their country men to get along on using cryptocurrencies as well if they would legalize it and would massively adapt the usage of cryptocurrencies on their countries. Such action is already a great move or we can say a small spark to start up getting ready for a massive adaptation of using cryptocurrencies. Actually it sound new to me that cryptocurrencies are being served as presents on an occasion and to think it was between two great leaders. This was just pretty nice for they are showing interest of making good use of cryptocurrencies and I am looking forward to see a greater improvement on cryptocurrency usages on both Lithuania and Estonia.

Everyone should realize that it turned out it wasn't crypto, it was just a digital money, they are totally different things. Well not totally but not same neither. I believe that if the people of the big names actually sponsor bitcoin that would be awesome.

Not the government people because they are not cared in the world, but if holywood stars and other nations equal things (I don't know what Hollywood is equal in your nation) all started to support and say how much they live crypto, we will see a ton more bitcoin people and the price will certainly go up as well. Think of Brad Pitt and Leonardo Di Caprio talking about how they own bitcoin and best investment they made on live television on one of the award speeches, that would have increased the price of bitcoin very suddenly.

   Thanks for clarifying this gift from one president to another. I wonder which crypto-currency was gifted, in headline there just
crypto, and there's not much from OP about the coins. As it turns out, it's not a crypto-currency, it's just digital money.
   I think we will see the promotion you are talking about. It will come from celebrities and famous people, we already have few
examples, but we will need many of them talking about Bitcoin and other crypto-currencies, that could affect many people to
get interested. And that would probably affect the price in a positive way.

LOL, these president surely a follower of cryptocurrency and might a whale too that invested on it. As we all know that a government official has lots of excess money to which they could not declare it as of the moment to avoid any suspiscion on their side having the money. Then high chances that it could be invested in cryptocurrency to which for now I think it could not be traced for we know that crypto characteristics is a non custodial. No one owns crypto except the one who holds the private keys.

we dont know , maybe one of them is familiar to crypto and he wanted to encourage the other to use a crypto . thats a good step of spreading the word crypto .  the excess money that your talking about have its own dedicated use and not to be spend on other things or even on crypto  .  if they want , they are gonna use thier own personal money  but who knows ? corruption is possible too and why would they declare it to public if they spend the money for thier own good ?

Probably one of the coolest present ever. Even its not a crypto, wherever blockchain is cryptocurrency is always attached to it even if they don’t talk too much about it.

A simple gesture with the use of crypto or blockchain by leaders could still contribute to adoption specially if most leaders are highly educated about the technology.