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Author Topic: Which countries will end up adopting crypto as legal tender first?  (Read 110 times)
LarryHolmes
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February 13, 2018, 04:48:39 PM
 #1

So far we have Venezuela proposing the petro. Russia is proposing their own. I know Estonia is very crypto and tech friendly.

Where else>

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February 13, 2018, 07:04:22 PM
 #2

Not exactly crypto but it is at least digital.
Quote

Unlike the petrocrypto, this is just basically the Swedish crown in digital format so it is backed up by their central bank. As mentioned, the primary reason for wanting to adopt this was the decrease in cash usage. This meant that transactions mostly go through banks (imagine the Americans usually using credit cards instead of cash).
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February 13, 2018, 07:23:33 PM
 #3

Bitcoin is more or less legalized in Japan, Canada, America, Great Britain, Estonia, Australia, Denmark, South Korea, Sweden, the Netherlands, Finland.
In addition, some countries have taken this position when they officially do not give it legal status, but do not prohibit their use. In addition to Russia, to accept bitcoins as a new legal digital currency or not, think such countries as:
Belgium;
Colombia;
Czech Republic;
Germany;
New Zealand;
Israel;
Ukraine;
France;
Croatia;
Belgium;
Poland;
Hong Kong;
Slovenia;
Turkey;
Singapore;
Switzerland;
Spain
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February 13, 2018, 07:45:30 PM
 #4

Normally, I don't think there is any particular country or countries that will adopt the use of cryptocurrency because any country can adopt  it and we may not know the next in line. It might even be China; we never can tell. What I think we should be looking at is which government of a country will let their ego down and accept crypto as part of their country monetary transaction; this will indeed be a hard one.

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February 13, 2018, 07:54:46 PM
 #5

Bitcoin is more or less legalized

In the vast majority of the world it's not illegal but not embraced either. Some will say Japan, but it's not legal tender there, it's just recognised as a legitimate payment method. That's still nowhere near legal tender.

Even when you can pay taxes with it such as in Switzerland and certain US states, it's probably treated along the same lines as Visa. It's a payment rail, not a currency. It gets converted to the local legal tender. With that treatment it's a totally different category.

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February 13, 2018, 08:24:58 PM
 #6

Bitcoin is more or less legalized

In the vast majority of the world it's not illegal but not embraced either. Some will say Japan, but it's not legal tender there, it's just recognised as a legitimate payment method. That's still nowhere near legal tender.

Even when you can pay taxes with it such as in Switzerland and certain US states, it's probably treated along the same lines as Visa. It's a payment rail, not a currency. It gets converted to the local legal tender. With that treatment it's a totally different category.

Hm, not sure that makes it a payment rail. Arizona is accepting an additional currency, just as you can buy beer with the Canadian dollar at Niagara Falls on the US side. Perhaps it is calculated in USD, but it is stil BTC that is accepted. Whether they convert it or not is something that goes on outside of this question.
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February 13, 2018, 08:27:44 PM
 #7

Actually rather than little countries, US, Japan, Russia, China and South Korea are the ones that have big impact on crypto, lots of country will end up adopting crypto but these ones can change everything.

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February 13, 2018, 08:37:39 PM
 #8

It will be blyats
Every week we see good news coming from the muther land.Even Putin digs into this decentralized currency.He told his cabinet not to put too many restriction on trading ^^
There finance ministry is already drafting a bill, and it will be passed by March.So only one month left! All aboard the blyat train XD

Russia is even shutting down SWIFT! https://www.rt.com/business/418665-russia-banks-ready-shut-swift/
They are ready to move forward in this digital era.Soon many countries will follow this lead.

#Respect
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February 13, 2018, 10:20:03 PM
 #9

It's more and more amusing how we see the big global finance empire crumbling. I'm not a fan of Putin and wouldnt want to live in Russia but it's a smart move. And I can see some of the other Latin American countries close to Venezeula who have been bullied by washington following suit. Shame China is so interested in centralised CCCP control freakery they can't see the bigger picture yet.

It will be blyats
Every week we see good news coming from the muther land.Even Putin digs into this decentralized currency.He told his cabinet not to put too many restriction on trading ^^
There finance ministry is already drafting a bill, and it will be passed by March.So only one month left! All aboard the blyat train XD

Russia is even shutting down SWIFT! https://www.rt.com/business/418665-russia-banks-ready-shut-swift/
They are ready to move forward in this digital era.Soon many countries will follow this lead.

#Respect


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February 13, 2018, 10:32:21 PM
 #10

japan is first regualte about bitcoin
and you trade bitcoin in japan exchanger must pay tax fee too

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April 18, 2018, 05:49:36 PM
 #11

The countries that I think will have the easiest job when it comes to mass adoption has to be Japan. The population is pretty tech savvy and they have no problem when it comes to adopting new technology. The next will be germany.
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April 18, 2018, 05:53:26 PM
 #12

Should be looking for small countries that have a strong economy and don't have a lot of financial relationship with other countries.
Don't look for countries that have a poor economy, the government are trying to save their currency, and accepting bitcoin as a legal tender may just do the opposite.
Japan is an example for such a country, it's not really small but it doesn't have a lot of  financial relationship with other countries and also have a very strong currency.

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June 12, 2018, 10:30:16 AM
 #13

So far we have Venezuela proposing the petro. Russia is proposing their own. I know Estonia is very crypto and tech friendly.

Where else>

suppose about Russia you too much harry ap
because of last low and actions more against crypto
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June 12, 2018, 10:44:36 AM
 #14

I think the. Swedes and the Japanese will be the first ones there being that they're both technologically advanced and economically they have the resources to do so. Besides, they're very open to using crypto currency in their countries so after they see the ease to whicn the transactions are done then they'll adopt right away.

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June 12, 2018, 10:48:05 AM
 #15

It seems to me that those who have accepted the currency will be more than those who categorically forbid. And how do you think who exactly will not accept and will put for cryptocurrency? For example, I am sure that India will consider the decision and refuse the ban.

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June 12, 2018, 10:51:18 AM
 #16

I too believe that Venezuela will make its legal adoption at the earliest, because the country's higher authorities have found it an opportunity to get rid of the financial crisis. Also there continued involvement into cryptocurrency confirms they have initiated the plan of adopting. Next is Russia, and further European nations will adopt as people have the mentality to accept and adopt to technology easily.



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June 12, 2018, 12:41:51 PM
 #17

In the next few decades new countries will arise with no physical land. Think Estonias E-Citizenship but levelled up a few times

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June 12, 2018, 12:50:05 PM
 #18

I too believe that Venezuela will make its legal adoption at the earliest, because the country's higher authorities have found it an opportunity to get rid of the financial crisis. Also there continued involvement into cryptocurrency confirms they have initiated the plan of adopting. Next is Russia, and further European nations will adopt as people have the mentality to accept and adopt to technology easily.
we know that Venezuela is a country that is experiencing an economic crisis. and i think the right choice is to use cryptocurrency, although now it has not seen the effect, but it will definitely improve and the country will certainly be free from the crisis

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June 12, 2018, 12:55:05 PM
 #19

maybe swiss country, swiss is country with the best level of security in this world. bitcoin less attention by the governments of developed countries such as the United States.
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June 12, 2018, 12:55:45 PM
 #20

I would advocate for some EU countries to adopt a parallel tetherd crypto that they deflate and counter negative effects of having no control over the EUR. Italy prime candidate right now.

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