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Author Topic: Lithuania President gifted crypto to Estonian President.  (Read 387 times)
HodlerKing101
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August 15, 2020, 09:45:50 PM
 #1



When do we hear news of presidents gifting cryptocurrency to a fellow-president? I hope he installs any ledger wallets and becomes a fanatic! Cheesy IMO, making it easy for these businesses to use blockchain/crypto is key, some of these kiddos still have no idea about the technology too. I hope simple integrations as what NEM Symbol APIs have done with Lithuania's President can open more doors.
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August 15, 2020, 10:13:51 PM
 #2

These small moves can help wide-spread adoption 100%. Blockchain technology is still very vague, especially to the older generations.
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August 15, 2020, 10:33:34 PM
 #3

It's a great first step I guess. We'll have to  wait and see if there's a point a G7 country does this to another because that'd be extremely notable...
. I haven't heard about Lithuania being cryptiphillic but I think it was going that way.

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August 15, 2020, 10:45:12 PM
 #4

It's not a cryptocurrency, it's a digital currency, there is a difference. They make use of the word crypto because it's swag in 2020.
But in reality, it's a state currency and not P2P without a central bank. You can buy it from the Bank of Lithuania and if I'm correct you can not store it, the B of L does it on your behalf.
It's a coin for numismatists I think.

It's like if you buy a car and the seller tells you: "You bought it but the car stays here"

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August 15, 2020, 10:53:29 PM
 #5

When do we hear news of presidents gifting cryptocurrency to a fellow-president? I hope he installs any ledger wallets and becomes a fanatic! Cheesy IMO, making it easy for these businesses to use blockchain/crypto is key, some of these kiddos still have no idea about the technology too. I hope simple integrations as what NEM Symbol APIs have done with Lithuania's President can open more doors.

FYI Estonian president is a she. And the gift wasn't some popular crypto like Bitcoin or ETH, it was collectible government-issued crypto coins called LBCOIN. It's not meant to be used for payment, it's just a collectible, you can read about it here. So don't view it as some sort of sign of official adoption for Bitcoin - this wasn't even about crypto, it was more about "blockchain technology".

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August 16, 2020, 04:30:14 AM
 #6

FYI Estonian president is a she. And the gift wasn't some popular crypto like Bitcoin or ETH, it was collectible government-issued crypto coins called LBCOIN. It's not meant to be used for payment, it's just a collectible, you can read about it here. So don't view it as some sort of sign of official adoption for Bitcoin - this wasn't even about crypto, it was more about "blockchain technology".
Cool nonetheless. I think what is more important for us to see is that Lithuania and Estonia's president initiate dealing with the blockchain tech. Take note that those two are not just ordinary people, they are presidents — the man with greatest influence within a country. Thus I'm feeling good about this, their citizens will surely get triggered by this news and now get into crypto as well. And as a result, our community will grow further Smiley.
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August 16, 2020, 04:35:40 AM
 #7

When do we hear news of presidents gifting cryptocurrency to a fellow-president? I hope he installs any ledger wallets and becomes a fanatic! Cheesy IMO, making it easy for these businesses to use blockchain/crypto is key, some of these kiddos still have no idea about the technology too. I hope simple integrations as what NEM Symbol APIs have done with Lithuania's President can open more doors.

FYI Estonian president is a she. And the gift wasn't some popular crypto like Bitcoin or ETH, it was collectible government-issued crypto coins called LBCOIN. It's not meant to be used for payment, it's just a collectible, you can read about it here. So don't view it as some sort of sign of official adoption for Bitcoin - this wasn't even about crypto, it was more about "blockchain technology".

It's still a good gift tho. This somehow spreads awareness about blockchain technology. Especially during the pandemic where blockchain can really be useful in many ways. Looking at the details of the gift it's really worth keeping and unique.

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August 16, 2020, 06:12:47 AM
 #8

That's a very good news, because when officials from the governments gift crypto!, then surely that means those governments are pro-crypto and helps to make contributions towards growth of crypto in the larger world. Hopefully, this trend will be adopted by many countries and people should know about the good things of crypto and blockchain!

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August 16, 2020, 07:19:52 AM
 #9



When do we hear news of presidents gifting cryptocurrency to a fellow-president? I hope he installs any ledger wallets and becomes a fanatic! Cheesy IMO, making it easy for these businesses to use blockchain/crypto is key, some of these kiddos still have no idea about the technology too. I hope simple integrations as what NEM Symbol APIs have done with Lithuania's President can open more doors.

See , we have seen in the past people gifting cryptocurrencies , this for sure can improve what others might think about them and at the same time create a more progressive era.

Two of the examples:

1. Ellen Gifting Cryptocurrency for Charity on show
2. Warren Buffet receiving Bitcoins as a gift
 
_*_
But Warren Buffet wasn't a good sport to have received Bitcoins since he does not like the whole idea of cryptocurrencies as a whole but in This case I do believe that the president will for sure make a good use of it .

_*_

Other than that when politically significant people do make little moves in the right direction it does inspire other people who follow them to actually do the same , over the years there have been celebrities who actually endorsed the cryptocurrencies.

Example:

Snoop Dog wanted record available to be brought in Bitcoins
Paris Hilton
Bill Gates
Elon musk !!! Etc

_*_

https://aboutmanchester.co.uk/11-celebrities-who-back-cryptocurrencies-and-may-own-millions-in-bitcoin/

For full list you can go here ^

_*_

This is called using their fan following for good . Cheesy

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August 16, 2020, 08:00:52 AM
 #10


yep its not the first time where famous people had been on the news about their involvement in crypto.  just recently their twitter accounts were hacked and was used to scam through the giveaways. but we haven't yet heard of the head of the country. its best if its BTC though and not some other token.

Estonia is one of the country which has integrated everything into blockchain technology. Following the technology advancement more countries have been into the usage of blockchain technology. Lithuania President gifting crypto to the Estonian President is a good move in the cryptospace for better adoption all around the globe.

so we hear. i remember some developers from that country AFAIK that were developing tokens.  LBCoin is created by a bank though.


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August 16, 2020, 09:51:32 AM
 #11

No surprise though, as Lithuania is one of the Baltic tigers that are really open and very welcoming to crypto. And this gestures really proved that. And it seems that the country is really moving to a 'right direction' with this adoption specially blockchain technology.

Again, this is something that we should anticipate, and with this move I'm sure adoption on that country will continue to grow in the next coming years.

But make no mistakes about it, they are friendly to crypto, but they have crypto regulations even stricter than the EU's.

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August 16, 2020, 10:03:47 AM
 #12

Exciting to see such news, maybe is this just small step but in my own idea after increasing the crypto and bitcoin reputation in all over the world we will see more governments, investors and political men attracting to with magical world. After increasing the attraction we can see more capital on this market, hopefully.

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August 16, 2020, 12:33:45 PM
 #13

If this connection really continues to affect more world leaders, bitcoin community will celebrate!

This is a unique gifts between two Presidents and what we need right now is adoption, and this is a sign for it.

I think their next step should be making transactions with the use of bitcoin, or making the economy grow with the use of cryptocurrencies. Hopefully, all of the presidents are knowledgeable about the benefits and importance of bitcoin in our economy and community. Still there are a lot of people who are thinking that bitcoin is a fraud, which is not.
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August 16, 2020, 03:28:14 PM
 #14

Cool nonetheless. I think what is more important for us to see is that Lithuania and Estonia's president initiate dealing with the blockchain tech. Take note that those two are not just ordinary people, they are presidents — the man with greatest influence within a country. Thus I'm feeling good about this, their citizens will surely get triggered by this news and now get into crypto as well. And as a result, our community will grow further Smiley.

I'm pretty sure that most Estonians and Lithuanians, like any other people on Earth, don't tract every single movement of their president and don't immediately follow any trend proposed by their president. It's very common in crypto to expect some adoption boost whenever crypto gets new publicity, but practice shows that it never happens. If you go to google trends, there's absolutely no correlation between this event and search terms like blockchain or bitcoin in Lithuania or Estonia.

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August 16, 2020, 08:51:47 PM
 #15

Estonia is one of the country which has integrated everything into blockchain technology. Following the technology advancement more countries have been into the usage of blockchain technology. Lithuania President gifting crypto to the Estonian President is a good move in the cryptospace for better adoption all around the globe.

A lot of blockchain and crypto exchange projects have sought their Estonian license because of the ease of getting from them.
So this small gesture is not surprising and the Estonian President I assume, he is open arms with crypto projects.
I hope those countries that are still banning crypto will change their minds and be accommodating with crypto transactions.
In general, this will benefit their citizens now that we are still in crisis. People need to find alternatives on how to earn money.

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 #16

I do not really understand what the intention was here but I think this is a great way to increase adoption. If one nation allows bitcoin or generally speaking crypto to exist in that nation with full support and spreads that same feeling towards other nations as well that is a great thing.

The first thing a president or anyone who is in the lawmaking process hears about crypto is a very important thing, if they hear about it like "hey there is this new thing called crypto and it is great because..." that would make them be more supportive unless given any other reason, however if they hear "there is this new thing called crypto and it is horrible because..." they would be against it until given a reason not to and that would take us longer time to make them accept it.

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August 16, 2020, 09:47:58 PM
 #17

I don't know but I think this collectors digital currency is different from a usual cryptocurrency. I mean that LBCoin is a state-backed digital currency and It has physical forms they call it a silver coin that resembles like a credit card. You can even buy it in the bank of Lithuania.
However, it's a blockchain based currency, so that makes it more of a cryptocurrency, but I really doubt LBCoin has different purpose from a usual cryptocurrency.
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August 16, 2020, 09:52:56 PM
 #18

I do not really understand what the intention was here but I think this is a great way to increase adoption. If one nation allows bitcoin or generally speaking crypto to exist in that nation with full support and spreads that same feeling towards other nations as well that is a great thing.

I think the intention is very simple, promote bitcoin in there country, imagine Obama gifted Trump crypto I'm sure it will send a strong signal to the whole world.

The first thing a president or anyone who is in the lawmaking process hears about crypto is a very important thing, if they hear about it like "hey there is this new thing called crypto and it is great because..." that would make them be more supportive unless given any other reason, however if they hear "there is this new thing called crypto and it is horrible because..." they would be against it until given a reason not to and that would take us longer time to make them accept it.

First, Estonia is very small compare to other EU nations and maybe that's one reason they started to welcome to attract investors. Second, it looks like very successful move at they have attracted a lot of startups with their progressive approach. However, they are amendments on their crypto regulations, it strict so I don't know if projects are going to move there or choose other crypto friendly nations. Specially with the money laundering scandal that rocks EU recently. But it still good that they remain very supported of bitcoin and blockchain technology.

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August 16, 2020, 10:29:05 PM
 #19

I do not really understand what the intention was here but I think this is a great way to increase adoption. If one nation allows bitcoin or generally speaking crypto to exist in that nation with full support and spreads that same feeling towards other nations as well that is a great thing.

The first thing a president or anyone who is in the lawmaking process hears about crypto is a very important thing, if they hear about it like "hey there is this new thing called crypto and it is great because..." that would make them be more supportive unless given any other reason, however if they hear "there is this new thing called crypto and it is horrible because..." they would be against it until given a reason not to and that would take us longer time to make them accept it.
A good start up if they do able to see cryptocurrencies actual usage and benefits compared into its cons or negatives but we know that these kind of positive approaches can turn upside down
one day thats why im not really that much excited nor hoping that they will really be going on positive inputs towards crypto but since they had started positively then most likely they would end up
on reconsidering this one.Its really a good news for adoption, further recognition will vary on how they would research things up even more and imply it into their vicinity.
Its a good step imho.

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August 16, 2020, 11:23:40 PM
 #20

It is actually not surprising because those two countries are open and welcome to the cryptocurrency world. As we can see in these following.
Quote
Lithuania is one of few EU/EEA jurisdiction having clear and transparent cryptocurrency regulation.
Quote
Cryptocurrency regulations in Estonia are open and innovative, especially in comparison to other EU member-states. Although not legal tender, Estonia's government regards cryptocurrencies as “value represented in digital form”.

However, of course, this can be one of the inspirations for many more countries that cryptos are actually acceptable. Even there may be not certain regulations, the acceptance of crypto in each country will support the development and also adoption of the crypto or even the blockchain technology. Many sectors can utilize the crypto or blockchain technology, moreover related to the business. As you said, it will be very useful.

https://complyadvantage.com/knowledgebase/crypto-regulations/cryptocurrency-regulations-estonia/
https://www.ecovis.com/lt/fintech/licensing-solutions-blockchain-cryptocurrency-tokens-ico/


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