Can Afghanistan replace afghan currency with Bitcoin?

[Tybi]

Bitcoin may gain legitimacy in the country to recover from the economic crisis after the country was occupied by the Taliban. Moreover, the economic source of the Taliban must come from another border country. So for their economic prosperity, the government of the country is more focused on legalizing bitcoin. You can know all the details through the video link below. I hope you will watch the full video and you will find the video source at the link below.

https://www.indiatoday.in/newsmo/video/afghanistan-replacing-afghan-currency-with-cryptocurrency-bitcoins-1846934-2021-08-30?jwsource=cl

[TravelMug]

And why would they do that? doesn't make sense at all.

If they would replace it, are there enough infrastructure in Afghanistan that will help them transact using BTC? First you have internet to be able to used bitcoin around that country, is there is none then it's useless.

Besides, do you think oppressive government like Taliban will allow the people to use crypto as way to hide their money and wealth? Or give financial freedom? Nah, don't think so.

[Kittygalore]

@TravelMug is right, it's useless at all and wouldn't the Taliban refuse that from happening right because they at least have some inkling knowledge as to the implications of making bitcoin an official currency. Also, it's not really the right step for them to use bitcoin as a currency since there's not enough to go around.

[dansus021]

one or two people will have bitcoin, but like other nation who doesn't allow bitcoin as currency. people gonna hide it.

and since syariah law will gonna use it bitcoin maybe on two side halal and haram

[OgNasty]

I believe only around 20% of the population in Afghanistan has access to internet, so that would make it a pretty bad candidate to switch to Bitcoin. The unstable government also seems counter to what we’re currently seeing with Bitcoin adoption in El Salvador. So to answer your question… No.

[Ausgewielt]

I think bitcoin will help them a lot but they should develop their national currency too, create new national currency is also okay. It is good investment for them, when the price rise they can buy more tanks and etc to defend themselves or atleast make other countries think twice to attack them so the citizens can be more comfortable to live in that country. In my opinion, if there are more countries accept bitcoin then it will be good for bitcoin and our community.

[cabron]

The country is not yet very stable, they are yet not organized to set up the kind of government that will unify them. There is so much tribe in Afghanistan that when the US was there they can't sort out. All things now I guess depend on the Talibans they are now in control of the country.

one or two people will have bitcoin, but like other nation who doesn't allow bitcoin as currency. people gonna hide it.

and since syariah law will gonna use it bitcoin maybe on two side halal and haram

That law also will block users from using Bitcoin. Such an od law that suppresses progress.

[NathanielParker]

When El Salvador chose to accept Bitcoin as its legal currency, I thought that other countries would follow suit. Even in the fully developed world, it is a very esoteric subject, but for Afghanistan, I think it will not work.

[Kiley33]

They now first need to develop their own currency. They cannot access the Internet without a mobile phone. Assuming the use of Bitcoin will not be able to be fully popularized.
They are different from El Salvador. The economic support of El Salvador’s own country can be exchanged for Bitcoin,
The important thing is to develop the economy.

[DapanasFruit]

People in Afghanistan can certainly use Bitcoin as a way to protect their wealth but if you are right now inside the country I think that can be so difficult if not downright impossible. Not unless of course, maybe if you have trusted relative or friends abroad that can buy Bitcoin for you. Those who really have the money can probably now out of the country so maybe they can themselves get into Bitcoin but I am guessing that this is farthest on their minds right now...they are after surviving and waiting for the kind of government Taliban will be making.

[ropyu1978]

can afghanistan replace afghanistan currency with bitcoin,, according to my prediction, it is very difficult to happen, because of political problems in their country which is unstable, and internet problems are constrained, and in addition only about 30% who understand about bitcoin, and they also still lacking in communicating in English, I think they will find it difficult to follow the steps taken by el salvador, but in the future we don't know what will happen, because if we are sure we can.

[Dhoe]

it can't be denied that over time, bitcoin has become very popular, many of us have adopted bitcoin, there are even countries like el salvador that have legalized bitcoin, and now afghanistan wants to replace the afghanistan currency with bitcoin, if they want to change the currency their money with bitcoin, I think this will be very difficult to happen, but if they legalize bitcoin in their country, and make bitcoin the second currency in their country, I think this can be said okay, but if you immediately want to change their currency with bitcoin, I think it's very difficult to happen.

[cotton ball]

I'm not sure afghanistan will succeed in replacing their currency with bitcoin, as has been done by el salvador, because the country of afghanistan is not yet stable, and there are not many people who understand bitcoin, but if they legalize bitcoin in their country, I think it could happen, and easy for them to legalize bitcoin..

[Darker45]

I cannot see the point why the Taliban will have to legitimize Bitcoin in order to prosper economically. In what way could Bitcoin help the country's economy?

Anyway, before this group occupied Afghanistan recently, they're already very wealthy. In 2018 alone, the group had $1.5 billion in income.^[1] And now that they are the ones controlling the country, there is no reason why they cannot increase their wealth even further. The resources of the entire country is now under their control. They are now in control of the country's taxes as well.

[1] https://www.bbc.com/news/world-46554097

[Ozero]

I cannot see the point why the Taliban will have to legitimize Bitcoin in order to prosper economically. In what way could Bitcoin help the country's economy?

Anyway, before this group occupied Afghanistan recently, they're already very wealthy. In 2018 alone, the group had $1.5 billion in income.^[1] And now that they are the ones controlling the country, there is no reason why they cannot increase their wealth even further. The resources of the entire country is now under their control. They are now in control of the country's taxes as well.

[1] https://www.bbc.com/news/world-46554097

For now, the Taliban are just forming their government. In general, we do not yet know what they are going to do and what policy to pursue. Their first promises are at odds with their deeds. Therefore, for now, you just need to observe what the Taliban will do in power and how to behave.
In Afghanistan, within a month, they predict big problems with an acute shortage of cash and money in general, since almost everything that the central bank of this country had is blocked in foreign accounts. In this case, cryptocurrency could mitigate the situation, however, to what extent they and the residents of Afghanistan are able to accept and use cryptocurrency. However, in any case, the economy needs to be raised with its own national currency.

[btc78]

Bitcoin may gain legitimacy in the country to recover from the economic crisis after the country was occupied by the Taliban. Moreover, the economic source of the Taliban must come from another border country. So for their economic prosperity, the government of the country is more focused on legalizing bitcoin. You can know all the details through the video link below. I hope you will watch the full video and you will find the video source at the link below.

https://www.indiatoday.in/newsmo/video/afghanistan-replacing-afghan-currency-with-cryptocurrency-bitcoins-1846934-2021-08-30?jwsource=cl

Don't put you self too deep on this matter because though you are in crypto world yet not all the news and videos are worth sharing because most of those are shit videos and news that only covers to gain viewers but the content is  shit.

what would be the benefits of Bitcoin if being adopted by this one of the worst country so far? a country that does not stop having war?

do you really believe this is beneficial ? in both crypto and afghans?

[20kevin20]

I'm pretty convinced the Talibans don't want Afghans to use a currency that enures 100% freedom and potential anonymity (or at least privacy much better than fiat offers if used correctly). If there was a country adopting Bitcoin as a national currency replacement, it would definitely not be Afghanistan at this point in time.

[kidbounty]

it could happen. and I'm sure they've been familiar with bitcoin for a long time. most of the funds they have may be stored in the form of crypto coins so that they are not easily tracked. and when they are in power, they will surely use it. bitcoin is more profitable than using existing currencies.

[SFR10]

@Tybi
Regardless of the current cash shortages and bank closures, BTCitcoin can't replace their own currency ^{[for now]}, but it could somewhat complement it!
<sup>- Even if the internet penetration rate was high [it's quite low], I still highly doubt that the Taliban would've allowed its citizens to have that much power over something that they could hardly control.
- As it stands, it's only good for those that want to flee the country in the near future.</sup>

[cryptomaniac_xxx]

I think bitcoin will help them a lot but they should develop their national currency too, create new national currency is also okay. It is good investment for them, when the price rise they can buy more tanks and etc to defend themselves or atleast make other countries think twice to attack them so the citizens can be more comfortable to live in that country. In my opinion, if there are more countries accept bitcoin then it will be good for bitcoin and our community.

The wealthy and rich Afghanistan have fled the country already because they know that the Taliban regime will be oppressive to anyone. Of course everyone can treat bitcoin as good investments. But for the government in Afghanistan, bitcoin could be prohibited. What do you mean buy tanks? for curse Taliban is well funded inside or outside, so I doubt that they will go into bitcoin. Even the anti-Taliban forces for me would rather used fiat, the US dollar to continue their fight. So No, is the answer to the OP's question.