Bitcoin Adoption In Paraguay Next Month, the domino effect is unstoppable

[verita1]

Thanks guys for sharing this news.
Bitcoin has its heart in Latin America.
Here is the Twitter account of Grupo Cinco, the most important entertainment company in Paraguay.
As announced, the company will accept payments in cryptocurrencies from July: bitcoin, ethereum, shiba and chiliz.
It is worth noting that payments will be processed through the Lightning Network.

Well! I understand that shiba has been chosen because of the furor it has caused recently and chiliz is a fintech platform that supports the sports industry and Paraguay loves football.
Bravo! Paraguay 🇵🇾 👏

https://twitter.com/grupocinco?s=09

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[kryptqnick]

One restaurant accepting Bitcoin says nothing about mass adoption, to be honest. There's been a restaurant near my home that accepted BTC for years, but there's still no BTC legislation in my country. What's more interesting in the July bill to which Darker45 provided links. But the project law isn't even comprised yet, so it's just on the level of intentions to write it. And then there's always a chance of the bill never passing (we had at least 3 such bills in my country), and it's also unclear how cryptos will be treated there. So it's a little early to get excited about Paraguay, I believe.

[ILuckyGuyI]

Yeah, the domino effect continues. We've started seeing even some countries which were not thinking good about Bitcoin before but now are thinking of making it legal tender. I wonder when this effect will stop.

[hd49728]

Much of the developing world certainly needs solutions to their monetary problems but the entire financial system globally is rotten at the core. I still don't think Bitcoin "is the answer" but yeah, perhaps, there are some use cases for a state to at least protect some of its wealth, or, alongside other types of consumer tech layers like Lightning, maybe Bitcoin network is a viable way to conduct parts of the economy for the masses that's also inflation resistant (but they will still need to solve volatility via heh stablecoins maybe, probably).

Big nations will not accept national adoption for Bitcoin in some small nations. They know how bad the global financial system is. Bitcoin and CBDCs are gates to eliminate national debts for small nations.

That is why the intention years ago in Venezuela die too fast. The game will only become real when big nations launch their CBDCs that can create real domino effects. It will not be official admission for Bitcoin but unofficial it is. In politics and enonomics, in communist nations, they changed to become more likely as Western economy but communist governments never say they fail with initial communist economy.

[buwaytress]

Big nations will not accept national adoption for Bitcoin in some small nations. They know how bad the global financial system is. Bitcoin and CBDCs are gates to eliminate national debts for small nations.

Exactly. Because it's how you tie a country to you with debt. It all began with the Marshall plan 70+ years ago, and when even Marshall Islands tried to use the Sovereign they worried about it, IMF had to step in.

That is why the intention years ago in Venezuela die too fast. The game will only become real when big nations launch their CBDCs that can create real domino effects. It will not be official admission for Bitcoin but unofficial it is. In politics and enonomics, in communist nations, they changed to become more likely as Western economy but communist governments never say they fail with initial communist economy.

You also have to blame the Venezuelan government there, though, as the Petro was not only ill-thought out, it was completely fraudulent, just another tool to oppress the people, and it didn't want it to co-exist with Bitcoin.

[aysg76]

Dumbass, try to put some news that proves your title, this is a clickbait thread because there is no evidence supporting your claim of Paraguay adopting bitcoin next month and the domino effect you are talking about is a bullshit.

Actually if you have read some articles then the official have declared that they will present the legalization bill in the next Congress session in July for cryptocurrencies like bitcoin.These types of move came after the bold move of El Salvador making btc as legal tender although IMF and World Bank have opposed this integration due to the domination of US dollar.But still small countries are advancing the step to adopt Bitcoin.

"This is Paraguay July we legislate! #Bitcoin," Carlitos Antonio Rejala Helman, a deputy of the Nation and member of Congress, wrote Thursday on Twitter.

"From the month of July all the stores of Paraguay Entertainment Group (Grupo Cinco) will accept Cryptocurrencies. One more step in the present with a view to the future," he wrote in a separate tweet.

Moreover there are many tax benefits available in Paraguay which will incentivise crypto holders.One of the university also accepts Bitcoin payments to support them and this type of small acceptance accounts for major adoption as well.See if they agree to accept it.

[tulusikhlas]

One restaurant accepting Bitcoin says nothing about mass adoption, to be honest. There's been a restaurant near my home that accepted BTC for years, but there's still no BTC legislation in my country. What's more interesting in the July bill to which Darker45 provided links. But the project law isn't even comprised yet, so it's just on the level of intentions to write it. And then there's always a chance of the bill never passing (we had at least 3 such bills in my country), and it's also unclear how cryptos will be treated there. So it's a little early to get excited about Paraguay, I believe.

the public doesn't need to know about Bitcoin services in restaurants, simply because they have proven their adoption to be something useful for Bitcoin's growth. As long as the government doesn't put too much pressure on Bitcoin then I'm pretty happy to hear that your local restaurant has been running for years. should all almost follow in the footsteps of adoption of Bitcoin, still, CBDC, IMF and all the elements that lead to politics, economics make them dare to fight small countries and create huge debts initiated by themselves.

[passwordnow]

I went about 4 years ago to Paraguay.. there is a restaurant there that time they accepted the payment with Bitcoin.. dont know if they are accepting nowadays.
if countries legally accept BTC. Then maybe the next time will be the real uptrend

We've got an uptrend just a few months ago and that's a real uptrend and I think you haven't consider that as the actual trend that we've got in? But that's for sure, if these countries make bitcoin as a legal tender a little by little, there will be a massive adoption that will happen to bitcoin.
And if that happens, some neighboring countries might consider to take a look at doing some regulations about bitcoin and publicly announcing it that they're accepting bitcoin or allowing it.

[fiulpro]

I went about 4 years ago to Paraguay.. there is a restaurant there that time they accepted the payment with Bitcoin.. dont know if they are accepting nowadays.
if countries legally accept BTC. Then maybe the next time will be the real uptrend

I think the restaurant will definitely be still accepting Bitcoins! They did make bitcoins an official currency after El Salvador. I think this might just start a chain reaction and more countries might accept bitcoins on a bigger basis.

- We will sure see uptrends if more people start accepting Bitcoins and countries make it a legal currency, but at the same time this will enlist it as a centralized currency. 

But there might be cases where the nominal price might attract more people. Excessive hike in price might take a downturn causing probelms due to Volatility.

I think soon enough we will be seeing more countries joining this trend and hopefully they let bitcoins stay decentralized at least till an extent.

[macson]

I went about 4 years ago to Paraguay.. there is a restaurant there that time they accepted the payment with Bitcoin.. dont know if they are accepting nowadays.
if countries legally accept BTC. Then maybe the next time will be the real uptrend

i have never been to Paraguay, if i have the opportunity and money, i will go on vacation there....All eyes are on El Salvador after they officially announced that Bitcoin is a legal tender there.  Paraguay definitely doesn't want to be left behind, if this is true then the resulting domino effect will definitely continue to grow in South America.

[Gamerholic]

I think that the financial system that was built around the dollar began to lose ground even before the advent of bitcoin. But with what happened after the emergence of bitcoin, this process went faster. Obviously, this domino effect will continue throughout South America. Perhaps this will cause irreversible consequences for the entire financial world, but I do not think that the result will be quick. One thing is clear - the process has begun and will only accelerate.

[Spack17]

As long as the countries which have made Bitcoin legal tender see its benefits in the long run, I'm not against a domino effect actually. I would really like to see especially poor countries having a chance to enliven their economy.

[hd49728]

Exactly. Because it's how you tie a country to you with debt. It all began with the Marshall plan 70+ years ago, and when even Marshall Islands tried to use the Sovereign they worried about it, IMF had to step in.

IMF are part of big plans to control global financial system and IMF together with big nations will not allow those ambitious plans run smoothly without barriers along the way.

You also have to blame the Venezuelan government there, though, as the Petro was not only ill-thought out, it was completely fraudulent, just another tool to oppress the people, and it didn't want it to co-exist with Bitcoin.

I recognized it and the fact is such national adoption came out first with corrupted nations or small nations. They don't have many things to lose so they are free to run their ambitious bet plans. If their plans fail, ok they will go backwards with what they are struggling.

[Vishnu.Reang]

El Salvador was like the trigger. Now it is like a chain reaction which can't be stopped. There are a number of countries, which don't have the capability to maintain their own national currencies. Some, such as El Salvador and Ecuador have resorted to using the US Dollar instead. And they have now realized that Bitcoin is a superior currency when compared to USD. But look at the market. Despite such a significant event occurring, the market hardly reacted to it. On the other hand, it went ballistic over the China FUD.

[int03h]

I went about 4 years ago to Paraguay.. there is a restaurant there that time they accepted the payment with Bitcoin.. dont know if they are accepting nowadays.
if countries legally accept BTC. Then maybe the next time will be the real uptrend

Paraguay and El Salvador are two small countries and the cash flow cannot be higher than in China. Today Agricultural Bank is China's third-largest bank to have banned Bitcoin-related transactions. Also this month Bitcoin mining pools in China had to shut down. Right now we are dealing with too heavy FUD. Bitcoin's chart is in a short-term downtrend, we can't change it. So the news is just an auxiliary factor and it has only motivating value in a bull market, in a bear market, it doesn't promote much value.

[freedomgo]

It is another great story about Bitcoin, 2021 is the best year ever in crypto history. It has to see a kind of domino effect after El Salvador and it comes so fast. This is to picture out the strong support from small countries and certainly be looking for the big and well-established countries to follow then. Coz I had to say that they are more influential than El Salvador and Paraguay (soon) to attract more crypto users, investors, and traders.