Does Bitcoin need to be a legal tender in order to be successful?
Do we need to wait for approval from a centralized body like Government in order to start feeling secure about using a decentralized cryptocurrency whose purpose of creation was to initially get rid of that centralized corruptible middle man (Read government/central banks)?
You are absolutely right but the problem remains that, some people are thinking this is the way to verify the global acceptance of Bitcoin. I would say that Bitcoin has been successful even before a country like El Salvador made it a legal tender but the upside would be, with Bitcoin being accepted as a legal tender by most governments the adoption would further push demand which will affect the price +vely.
Bitcoin is supposed to be independent of the government and away from the control of any form by legal finance but since we are in the open market nothing can stop any individual or firms to get into Bitcoin since they got the resources to do so. However, there is no denying that the coming in of the governments like those in El Salvador and others who are now willing to recognize and even make BTC as a legal tender can have a long-term impact especially on how people can be perceiving Bitcoin because we know that people tend to follow and to use anything that is already popular and endorsed by people and institutions they know can be credible and powerful. This one in California can be interesting to watch since this is not just making BTC as an acceptable mode of payment but really make it a legal tender in the same stature as the dollar...and certainly there can legal concerns on this matter.
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