here in Indonesia government justifies bitcoin as a digital asset but not for legal payment instruments. as citizens and bitcoin trader we really appreciate that and continue to hope that people can get to know more about bitcoin and accept it as a legitimate payment instrument
That won't happen anytime soon, even in my opinion it won't even happen in the next 1 or 2 decades. By accepting bitcoin or other crypto assets as a means of payment, the government and the central bank will lose power to regulate financial stability. Not to mention there is still an assumption that bitcoin is prone to use for crimes such as money laundry, terrorism funding, tax evasion, and others because with the decentralization system, bitcoin cannot be monitored by any party.
There are several conditions for something to be used as a means of payment such as money, including,
1. Portability, easy to carry anywhere.
2. Durability, the resistance of the object.
3. Divisibility, Can be broken down into smaller units.
4. Standardization, has clear standards.
5. Recognizability, globally recognized.
6. Stability of Value, the stability of the value of the object.
7. Elasticity of Supply, the amount is sufficient.
Points 4,5 and 6 are not yet attached to bitcoin so it is still difficult to be accepted as a means of payment globally, especially in Indonesia. Bitcoin's journey to be accepted as a means of payment in Indonesia is still very long.