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Author Topic: Which option will better to take?  (Read 442 times)
Bitstar_coin
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August 25, 2022, 11:45:54 AM
 #41

Making BTC a legal tender by a country won't reduce volatility (not at once anyways) because some other countries will still speculate and trade it as asset. The only way to achieve this , is when all countries government adopt and legalize btc as legal tender to operate as an alternative payment option. Fiat despite how centralized still plays important role in the financial system and will be very difficult to erase it from the system. The moment btc becomes a legal option, the government will exert the necessary control in other to suit their desire and have absolute power. Even if the government decided to adopt btc, i doubt it will have any negative impact on the economy since it will only serve as a means of payment and not an asset, or even if it serves as both, the value will increase overtime which will boost the economy of that country in the long run. 

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August 26, 2022, 05:48:41 PM
 #42

~snip~

I think both options should be taken together. I think it's also possible to take bitcoin legal and also control on them. I can't fully get it what is the meaning of your controls word. But if you mean illegal transactions i.e. money laundering or any crime committed through it, then I would say they can be controlled. And always remember that bitcoin or cryptocurrency will have always volatile and that's why not only about the country every traders should take proper step when they are involving with it . And also should know that the 1st rules of trading is " Invest as much as you can afford to loose".

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August 26, 2022, 08:33:35 PM
 #43

~snip~

I think both options should be taken together. I think it's also possible to take bitcoin legal and also control on them. I can't fully get it what is the meaning of your controls word. But if you mean illegal transactions i.e. money laundering or any crime committed through it, then I would say they can be controlled. And always remember that bitcoin or cryptocurrency will have always volatile and that's why not only about the country every traders should take proper step when they are involving with it . And also should know that the 1st rules of trading is " Invest as much as you can afford to loose".
There's no way on controlling it technically but somehow they could really make out some prohibitions into those platforms or businesses that do touch up crypto to have at least some restriction or specific conditions

which might able to decrease out the probability in speaking with crimes.Government doesnt really like decentralized things honestly speaking although there are some who do see the brighter side which do really

end up for them on adopting it instead of banning or making out prohibitions.Also in terms of volatility then this is the main issue into those people who do really get used on using fiat
and doesnt mind off about investment.

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August 26, 2022, 11:57:06 PM
 #44

It is good in the different perspective because the convenient and adaptation with the new technology of the crypto currency and as additional payment method. Some of the country approved this already because they can make a centralized wallet or exchange for their users at the same time is the transaction fees every transaction committed by the users it is additional tax at the same time.

Also being it is secured and easily get tracked and check by the users by using the Tx Id it becomes more transparent.

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August 27, 2022, 02:17:07 AM
 #45

legal payments using bitcoin in countries that have legalized bitcoin only need the right rules so as not to disrupt the country's economy, because if too many bitcoin adoptions will disrupt the country's economy a little, but if the rules are right maybe not much of a problem it will happen

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October 01, 2022, 12:06:36 PM
 #46

Accepting Bitcoin as legal tender wouldn't harm for the economy even it's on bear market, this because people are use it as a currency and not mainly for store a value. Actually countries that doesn't accept Bitcoin as legal tender would harm the economy since they're not use Bitcoin regularly due to it's not accepted on merchants. But we're talking if there's many people who hold Bitcoin, if it's only small group, then the effect is small.

The best option is don't force the countries to accept Bitcoin as legal tender, but governments shouldn't ban Bitcoin and allow any merchants if they want to accept Bitcoin payment.
I, agree with your opinion, there are indeed many countries that do not accept bitcoin as a legal tender, and indeed certainly cannot be forced, but it would be nice if the government did not prohibit the buying and selling of bitcoin and crypto, but mostly even though bitcoin is not made legal tender, but the government mostly allows buying and selling of bitcoin and crypto, because with the sale and purchase of bitcoin and crypto in the community,
Many people's economy is helped because they can buy and sell bitcoin and crypto.
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