Namibia Now Accepts Bitcoin As Payment

[KaliLinux]

I think it is a great move by the Namibian Government to allow for not only the trade of Bitcoin and other cryptocurrencies but also allow for its use as a means of payment even though cautioning the citizens of the risk that comes with it. This is a step in the right direction in terms of crypto adoption cos if the Government didn't see positivity in it, they wouldn't have taken this step and I also believe it is just a matter of time before they confirm it is an official Legal tender however I know they will want to weigh out the pros and cons before taking that move, nonetheless this is good news.

[KingsDen]

So is this the beginning of adoption of bitcoin in Africa ? I think after Namibia, other African nations will follow the same and bitcoin should become a medium of exchange in African countries.

Only time will tell. This announcement doesn't make Bitcoin legal tender. The Central Bank has just decided to look the other way, and it doesn't mind that individuals or businesses use virtual assets (that's the term they use and not Bitcoin) as a medium of exchange. But they still warn their citizens of the dangers of using unregulated currencies (cryptocurrencies), and they are considering introducing a Namibian CBDC. If that happens, they would rather have people use the centralized government asset rather than bitcoin, which they can't touch or regulate.

I discovered that it is the developing countries that are hungry to accept Bitcoin. They are also making their laws lenient on Bitcoin while some of the developed countries are not concerned about Bitcoin. Rather they are looking for means to starve bitcoin to death, by making or planning to make unfavourable laws for bitcoin and bitcoin mining.

In the other words, any country which is initially hard on bitcoin and later becomes soft could  be looking for a way to shill their CBDC with bitcoin.

[Dunamisx]

I think this is part of an accomplishment of a great milestone but let's anticipate further for the big catch ahead in seeing the next country to third the adoption of bitcoin as a legal tender, i believe since it's a thing of long term decision by many countries to consider a number if factors to back it up, i also believe taking a decision like this may not be as quick as expected since it's something that goes with protocols but despite all, i still got encouraged by El-Savador and Central African Republic for their decision and prompt response in acting toward the adoption.

yeah, It will take some more time but as they say, "better late than never". We slowly move towards the adoption thought the whole world. As this is gaining more popularity, I think other country can't help but also acknowledge this, and they also move towards the adoption to Accept BTC as a legal tender. No one, if they are smart enough, can't accept to stay behind as others move forward.  So this will be interesting to see what happens next.

If we are to look into the reality behind some countries yet to adopt bitcoin but have make it a legal for use, i still see no reason to their indecision, they aren't adopting and same way they aren't giving a ban, maybe all they want is to see others with tangible and evident results before they could decide on their own, but what others among them still lack is the understanding that bitcoin have every potential that makes it outstand fiat, the people want bitcoin but the government is against it adoption, yet everyone remain being decentralized still using it including those in government.

[Piesel]

I think this is part of an accomplishment of a great milestone but let's anticipate further for the big catch ahead in seeing the next country to third the adoption of bitcoin as a legal tender, i believe since it's a thing of long term decision by many countries to consider a number if factors to back it up, i also believe taking a decision like this may not be as quick as expected since it's something that goes with protocols but despite all, i still got encouraged by El-Savador and the Central African Republic for their decision and prompt response in acting toward the adoption.

yeah, It will take some more time but as they say, "better late than never". We slowly move towards the adoption thought the whole world. As this is gaining more popularity, I think another country can't help but also acknowledge this, and they also move towards the adoption to Accept BTC as a legal tender. No one, if they are smart enough, can't accept staying behind as others move forward.  So this will be interesting to see what happens next.

The impact of Bitcoin adoption is lasting, and in some cases, it takes up to 4 to 5 years before thos impact can be felt, but the good thing is that Namibia Central bank may have taken the right step by adopting virtual assets but if you look at the article closely you will discover that the statement doesn't cover bitcoin and other decentralized currencies.

[romero121]

I discovered that it is the developing countries that are hungry to accept Bitcoin. They are also making their laws lenient on Bitcoin while some of the developed countries are not concerned about Bitcoin. Rather they are looking for means to starve bitcoin to death, by making or planning to make unfavourable laws for bitcoin and bitcoin mining.

In the other words, any country which is initially hard on bitcoin and later becomes soft could  be looking for a way to shill their CBDC with bitcoin.

More countries that are against cryptocurrency in the past have begun to adopt cryptocurrency finding ways to keep everything under control through the regulated usage. Even now governments weren't ready to accept the real potential of bitcoin, but they're on the side of creating negative things about bitcoin. As said, this is mostly happening with the growing countries. In the name of CBDC countries were trying to control the increasing usage which is wrong calculation.

[Pmalek]

I discovered that it is the developing countries that are hungry to accept Bitcoin. They are also making their laws lenient on Bitcoin while some of the developed countries are not concerned about Bitcoin. Rather they are looking for means to starve bitcoin to death, by making or planning to make unfavourable laws for bitcoin and bitcoin mining.

Developed western nations don't fear for their economy and their national currencies the same way undeveloped countries do. You can't expect the British, Americans, or the Chinese to recognize BTC as legal tender as it will become a direct threat to their fiat currencies.

If we look back at El Salvador, they use the USD as legal tender because they don't have their own. Now they added BTC to the equation.
Namibia uses the Namibian Dollar which is basically a shitcoin. 1 NAD is 0.05 USD.
The francs used in Central African Republic are even worse and I am getting an exchange rate of 0.0015 USD for 1 CFA franc.

[Oluwa-btc]

I discovered that it is the developing countries that are hungry to accept Bitcoin. They are also making their laws lenient on Bitcoin while some of the developed countries are not concerned about Bitcoin. Rather they are looking for means to starve bitcoin to death, by making or planning to make unfavourable laws for bitcoin and bitcoin mining.

Developed western nations don't fear for their economy and their national currencies the same way undeveloped countries do. You can't expect the British, Americans, or the Chinese to recognize BTC as legal tender as it will become a direct threat to their fiat currencies.

If we look back at El Salvador, they use the USD as legal tender because they don't have their own. Now they added BTC to the equation.
Namibia uses the Namibian Dollar which is basically a shitcoin. 1 NAD is 0.05 USD.
The francs used in Central African Republic are even worse and I am getting an exchange rate of 0.0015 USD for 1 CFA franc.

I consider it rather disturbing that humans can't sit to think for themselves especially when it come to this monetary sysoand rules placed by the government. Those fiat currencies are backed by government and all gains and profits goes back to them directly or indirectly.

Now talking bout, El Salvador, Namibian and also Central African Republic, it's not about adding Bitcoin, how well can they go after one year accepting Bitcoin, how well has it been utilize ? How many old timers has successfully jumped in Bitcoin real life utilization?
How many businesses are using as a means of payment ? That's all that matters really if you ask me.

I don't know how to get those data analysis of Bitcoin from El Salvador and Central African African Republic, it would be nice to see how they have been 6 months or a year with Bitcoin adoption.


It's also a good growth in a way, Government are too recalcitrant to stuff's like this, but they're loosened to it here, what I'm not comfortable with is the introduction of CDBC'S. Which they'll be forced to hold once government stop's circulation of them physical fiat.

[Pmalek]

Now talking bout, El Salvador, Namibian and also Central African Republic, it's not about adding Bitcoin, how well can they go after one year accepting Bitcoin, how well has it been utilize ? How many old timers has successfully jumped in Bitcoin real life utilization?
How many businesses are using as a means of payment ? That's all that matters really if you ask me.

This is something that you can find out on site. It's impossible to know by reading a few articles or looking at interviews with the President. Older and not technically gifted folks will struggle working with a smartphone and getting the grip of bitcoin. They are not the target group for innovation, but still have to be considered.

To understand what the regular people think of bitcoin and if they use it, you walk down a random street and enter small shops and private businesses. By talking with the people there and asking them do they accept crypto and what they think about it will give you the information you need to know. That's completely different from tourist locations, shopping malls, and stuff like that.   

[trendcoin]

Undoubtedly, the Central Bank of Namibia (BON) has made a very important innovative decision. Allowing Bitcoin to be used as a means of payment will one day open the door to its legal recognition. Therefore, BON has made an important decision where we can predict what might happen in the future. I think Namibia is already among the countries that are close to legally recognizing Bitcoin. Congratulations to the Central Bank of Namibia and Namiby politicians for contributing to the adoption of Bitcoin.

Could the next ones be from this list?

https://twitter.com/nayibbukele/status/1526029996787216387