Will other countries adopt Bitcoin as legal tender after El Salvador's recent mo

[ropyu1978]

according to my estimation in the near future, it is likely that other countries will not follow in el salvador's footsteps in legalizing bitcoin, as a legal tender, because considering that other developed countries are still using fiat currency, and are still looking for profit in fiat currency. .

[decodx]

I think that the way governments should handle Bitcoin is through regulation, not elimination. Each government will approach the Bitcoin phenomenon in a different way. In most countries, the only real concern is money laundering and illegal transactions. If the government is able to keep its grasp on the use of Bitcoin, then they will prefer to stay out of its way.

If Bitcoin is to become a global standard, will it be through the cooperation of national governments?

[ShowOff]

OP, I feel that there are a lot of thing a country's government should consider if it want to legalize bitcoin as a legal tender. Meanwhile, the fiat system that most people consider problematic is still very much wanted to be maintained because the government cannot fully control the bitcoin network. It's well known that government always want to control thing so they're centralized, but with bitcoin they definitely won't be able to do that.

I just think that adoption and legalization are two different thing. Meanwhile, El-Salvador is not the only country that has legalized bitcoin as a mean of payment because previously several other countries also gave freedom to business people to adopt bitcoin as a mean of payment as did Tesla and other companies that adopted bitcoin.

[randegibran]

it is very difficult to predict whether other countries will accept bitcoin as a legal currency, like what elsavador
did.This is indeed interesting to discuss.of course large countries such as China and the United States will continue to monitor small countries in advantages in using bitcoin, if the country is successful it will be interesting to follow the continuation of these big countries

[conected]

according to my estimation in the near future, it is likely that other countries will not follow in el salvador's footsteps in legalizing bitcoin, as a legal tender, because considering that other developed countries are still using fiat currency, and are still looking for profit in fiat currency. .

- For the major economies, it will be difficult for countries in this region to follow suit in legalizing bitcoin because their cash is valuable to the community, some of the changes make it difficult to adapt, sometimes these countries also can't explain bitcoin and its opportunities and to be safe, incorporating bitcoin into their economy will need more reasons and a few experimental proofs like other small countries. That means some small and neighboring economies in the El Salvador region will be inclined to follow

[Shenzou]

A lot of countries don't have a real strategy towards dealing with cryptocurrency in general, either they make it ilegal because they don't have the resources to track or deal with the transactions which is what many countries are doing currently, or they accept it and let the people do what they want with it and use it as a p2p payment system, i really don't think that any major countries will adopt it as a supported payment system at least not publicly, but in small countries where the local currency and the economic system is having some problems maybe bitcoin would be a very good option to consider as a replacement.

[Abiky]

A lot of countries don't have a real strategy towards dealing with cryptocurrency in general, either they make it ilegal because they don't have the resources to track or deal with the transactions which is what many countries are doing currently, or they accept it and let the people do what they want with it and use it as a p2p payment system, i really don't think that any major countries will adopt it as a supported payment system at least not publicly, but in small countries where the local currency and the economic system is having some problems maybe bitcoin would be a very good option to consider as a replacement.

That's certainly true, mate. Not every country has the resources to be able to adopt Bitcoin as legal tender. Even those that do have the resources don't feel the need to embrace Bitcoin because their Fiat currencies are still going strong. It's very unlikely developed countries like the United States, the United Kingdom, and Germany will adopt Bitcoin as legal tender or a replacement of Fiat. Heavy-handed regulations will be inevitable in the long run as governments try to prevent money laundering and tax evasion. Let's hope more countries join the game after El Salvador's recent move. Just my thoughts

[ARTURVH]

It is only a matter of time. El Salvador succeeded, and the third world countries will follow. The best way is that a big country like the United States adopts Bitcoin as legal currency, which will greatly accelerate the process of Bitcoin legalization.