If scalability is unknown, why are some countries going "all in"?

[gomotomoto]

Are they just that desperate to escape their inflation and using bitcoin as a transfer -- thus making the market fluctuate like it's doing?

[Chin Cheng]

Are they just that desperate to escape their inflation and using bitcoin as a transfer -- thus making the market fluctuate like it's doing?

The majority of the funds are coming in from the financial sector who might think that investing in bitcoin is a good way to earn profits and with every investment their dream is to multiply their asset and that is what is happening here ,there are not much technical guys here but a major of the investments are from fund house and they lack technical knowledge.

[Yakamoto]

Are they just that desperate to escape their inflation and using bitcoin as a transfer -- thus making the market fluctuate like it's doing?

I have no idea which countries are trying to go all-in on Bitcoin, but it makes sense to use it as a safe haven of sorts right now since their internal economies seem to be in really bad shape. I know I would be getting my money into anything that isn't the money itself if my country's economy was in that kind of bad shape. Luckily it doesn't look like it will ever be that bad, but you never know.

[iamTom123]

Let me clarify your post...maybe you are saying that if Bitcoin right now has a big scalability or scaling problem why there are still many people coming from different countries who are entering the world of Bitcoin?

Actually, these are not countries that are getting into Bitcoin "all in" but people from these countries like Japan, South Korea, Australia, China and coming soon will be Russia and probably also India. Their governments are not really putting their finances and resources into Bitcoin as that can even be illegal according to their laws.

And the answer is simply because it is a good way to increase one's wealth. Pure and simple as that.

[d5000]

And the answer is simply because these people think it is a good way to increase one's wealth. Pure and simple as that.

FTFY.

It's pure speculation and greed, and many will lose, even if we should go some steps higher - because new and relatively uninformed people are often most affected by bubbles.

In many of the countries that have seen a big growth (Nigeria and Bolivia for example) there also exist Bitcoin-based ponzi schemes that got traction in the last year.

[BossMacko]

In my opinion some countries are going all in is because they have seen the potential of Bitcoin, though it is common that Bitcoin has a risk of a sudden Bitcoin dump, without risking you'll not gain anything same if you are going to start your own business. If i have money i will also going to all in because i've been watching and investing small amount in Bitcoin for the past 4 years.

[Idrisu]

Bitcoin will make inflation disappear from most of the developing countries. Though they leaders are blind fold to the advent of bitcoin now but in future they will come to the an understanding that the only way to reduce the influence of dollars on their economic is through adoption of bitcoin.

[jc89]

I personally do not know what are the reasons why some countries accept bitcoin. I haven't thought about your views but probably it is included in their because. As to what I personally believe, these countries just seen the potential of bitcoin being a currency. That reason is enough for me. Potential has a good relevance to the acceptance, right?

[ozaeri]

Are they just that desperate to escape their inflation and using bitcoin as a transfer -- thus making the market fluctuate like it's doing?

Its got nothing to do with inflation, the majority of money in the world is held in interest bearing accounts anyway. What is happening now is the Fear Of Missing Out (FOMO) effect. More and more people hear about bitcoin and realize they need to get on the bandwagon before it departs.

[audaciousbeing]

Are they just that desperate to escape their inflation and using bitcoin as a transfer -- thus making the market fluctuate like it's doing?

Its high time we believe that the increase witnessed in the price of bitcoin cannot just be traced to one source alone and the argument of governments coming in to me does not hold water because how can one invest in what you don't believe in. In individual capacity is where the moneybags are coming but not as an institution of government since governments of most country are yet to make a stand concerning the position of bitcoin in their respective countries.

[raven7886]

Are they just that desperate to escape their inflation and using bitcoin as a transfer -- thus making the market fluctuate like it's doing?

The scalability is not really unknown, there is much studies going on behind the scenes on how to keep a tab or rather control it. Perhaps the countries going all in have realized the potential and want to lead the race to empower themselves on the technology.

[Amph]

bitcoin is not only about scalability, i bet rich people don't care about scalability too much, they can move with this high fee what they want, if they need they will pay more, it's a rally on who pay more now

also solution are there for this issue, it will be just a matter of time until it solved, and investors now these and want to get cheap coin now