Possibility of bitcoin adoption by countries when world fin. giants does.

[WatChe]

Op, you're right in your observation about the IMF pressure when a country wants to adopt Bitcoin, so if by some luck such organizations changed their position and became more open to Bitcoin not just as an investment, but also as a currency, it would have a big impact on adoption because that would greenlight it. It doesn't mean we'd see a sudden spike in adoption, but it could change the world over time.
But, like many others here, I'm doubtful that such organizations will embrace Bitcoin because it's not and can never be under their control.

There is one in million chance of centralised entities accepting crypto in its decentralised state. I don't think institutions like IMF or US government will ever accept decentralised bitcoin since that is something not under there control. My country (Pakistan) recently got a bail out package from IMF and it was approved after strict terms and conditions, one condition was to increase tax net. With decentralised Bitcoin its difficult for government to gather tax, so the possibility of adoption goes down.

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[Wiwo]

International monetary fund is not a money printing bank like central banks of nations and their balance and reserves comes from the contribution and payment of commitments from members countries and this reserve is what are used to loan member nations in time of financial trouble in the form of bailout,  to bring Bitcoin to the reality is going to be something that will meet a lot of criticism from members countries even though if IMF adopts Bitcoin as an organization,  those member countries who are against bitcoin adoption and legalization will do everything possible to only allow fiat paper money since that is what they can print freely and spend to pay membership dues.

So one of the underlying deficits of this move is the inability of the member's countries to manipulate and print Bitcoin as they do with the fiat currency so in the long run,  this idea will still mean a dead end,  I prefer Bitcoin being an alternative currency to the citizens instead of governmental organizations.

[m2017]

Your idea is clear.

You are confusing bitcoin for settlements between countries and bitcoin for settlements between ordinary residents of these countries. If credits or other financial assistance can be accepted or given by countries that prohibit itcoin at home, then the free use of bitcoin within their country, after the adoption of the ban on bitcoin, they will no longer allow. The strict rules regarding bitcoin will not change.

The likelihood of mass adoption of bitcoin in countries that have a law banning it as a legal medium of exchange (you probably meant means of payment) is about zero. I admit that the governments of such countries will use bitcoin to interact with other countries, but this will not be permissible for their ordinary citizens.

[Wakate]

Op, you're right in your observation about the IMF pressure when a country wants to adopt Bitcoin, so if by some luck such organizations changed their position and became more open to Bitcoin not just as an investment, but also as a currency, it would have a big impact on adoption because that would greenlight it. It doesn't mean we'd see a sudden spike in adoption, but it could change the world over time.
But, like many others here, I'm doubtful that such organizations will embrace Bitcoin because it's not and can never be under their control.

There is one in million chance of centralised entities accepting crypto in its decentralised state. I don't think institutions like IMF or US government will ever accept decentralised bitcoin since that is something not under there control. My country (Pakistan) recently got a bail out package from IMF and it was approved after strict terms and conditions, one condition was to increase tax net. With decentralised Bitcoin its difficult for government to gather tax, so the possibility of adoption goes down.

The government knows how to get what they want that is why I am not always bothered about taxing especially those of us that are Bitcoin investors. There are some centralized firms that support crypto especially those ones that are popular with higher liquidity. There are some countries that has laws that support the use of cryptocurrency. The adoption of Bitcoin will still continue with time even though there are some countries that will never want to room for cryptocurrency support and adoption. I hope to see continuous adoption as more exchanges are coming into play.

[hatshepsut93]

And we can see that the IMF has putting pressures on El Salvador

Bitcoiners say that Bitcoin is a panacea for all financial problems and that fiat currency will soon collapse, surely it would make sense to ditch the IMF and go 100% on Bitcoin? It's not like anything can go wrong with this plan.

And with that statement, I don't think that IMF will simply adopt and embrace bitcoin per se and makes it as legal means of exchange. Sorry to burst the bubble for the OP. Just think of bitcoin's volatility as one major drawback why countries are not willing to take the risk.

IMF can't make Bitcoin a legal tender, only national legislators can do that. IMF can only recommend something and put conditions on their loans.

[Hamza2424]

International monetary fund is not a money printing bank like central banks of nations and their balance and reserves comes from the contribution and payment of commitments from members countries and this reserve is what are used to loan member nations in time of financial trouble in the form of bailout,  to bring Bitcoin to the reality is going to be something that will meet a lot of criticism from members countries even though if IMF adopts Bitcoin as an organization,  those member countries who are against bitcoin adoption and legalization will do everything possible to only allow fiat paper money since that is what they can print freely and spend to pay membership dues.

Hmm, Was totally unaware of how the member countries work haha, IMF adopting bitcoins seems like one of the biggest jokes to me for this month because I can recall in memory that IMF was putting pressure on the financial policies of those countries who were under debt of IMF to strongly Ban crypto market activities. Buddy, it's not about the member countries who are going to be affected by Bitcoin it will be the IMF haha because when BTC will be the legal tender there will be no need for the IMF for further loans the countries can directly introduce and raise funds through the high APY surety bonds even they can use their BTC reserves for the loans that will be more easy a greater approach for them to raise as much funding as they can.

[Wiwo]

International monetary fund is not a money printing bank like central banks of nations and their balance and reserves comes from the contribution and payment of commitments from members countries and this reserve is what are used to loan member nations in time of financial trouble in the form of bailout,  to bring Bitcoin to the reality is going to be something that will meet a lot of criticism from members countries even though if IMF adopts Bitcoin as an organization,  those member countries who are against bitcoin adoption and legalization will do everything possible to only allow fiat paper money since that is what they can print freely and spend to pay membership dues.

Hmm, Was totally unaware of how the member countries work haha, IMF adopting bitcoins seems like one of the biggest jokes to me for this month because I can recall in memory that IMF was putting pressure on the financial policies of those countries who were under debt of IMF to strongly Ban crypto market activities. Buddy, it's not about the member countries who are going to be affected by Bitcoin it will be the IMF haha because when BTC will be the legal tender there will be no need for the IMF for further loans the countries can directly introduce and raise funds through the high APY surety bonds even they can use their BTC reserves for the loans that will be more easy a greater approach for them to raise as much funding as they can.

You think countries will adopt Bitcoin 100% it's not possible because at the moment only a figment percentage of the global population know about Bitcoin and what it truly stands for,  and for the fact that Bitcoin is secured against third-party involvement or control makes is uninteresting to countries because,  Bitcoin is not like their local currencies that they can print unlimited number.

Bitcoin have a 21 million total supply which is some thing that stand out against possible inflammatory measure that makes Bitcoin anti inflation,  unless for some few countries like El Salvador who have taken the bold step by differing all IMF warning and adopting Bitcoin.

[famososMuertos]

I do not think it is a mistake to think that adoption is about governments passing laws, about governments financing projects or making loans to each other with bitcoin, but it is not the whole of that process that has as its main objective the individual.

Then people is the true adoption and the most important one, btw they does not need the aforementioned and in fact occurs, perhaps to a greater degree than you imagine.

[serjent05]

Op, you're right in your observation about the IMF pressure when a country wants to adopt Bitcoin, so if by some luck such organizations changed their position and became more open to Bitcoin not just as an investment, but also as a currency, it would have a big impact on adoption because that would greenlight it. It doesn't mean we'd see a sudden spike in adoption, but it could change the world over time.
But, like many others here, I'm doubtful that such organizations will embrace Bitcoin because it's not and can never be under their control.

There is one in million chance of centralised entities accepting crypto in its decentralised state.

From the looks of it and the current Bitcoin acceptance, there are already lots of centralized company that is integrating Bitcoin in their financial options.  One of which are the casinos, micropayment apps,  exchanges and even several merchants are accepting Bitcoin.  These are centralized entities and they integrate Bitcoin to their company.  I do not know if there is a centralized state of Bitcoin, but I am sure that Bitcoin is always been in a decentralized state. 

I don't think institutions like IMF or US government will ever accept decentralised bitcoin since that is something not under there control. My country (Pakistan) recently got a bail out package from IMF and it was approved after strict terms and conditions, one condition was to increase tax net. With decentralised Bitcoin its difficult for government to gather tax, so the possibility of adoption goes down.

There is no need for these institutions to adopt Bitcoin in their system, all Bitcoin need is for these institutions to recognize Bitcoin as it is.

[Sim_card]

Nothing is impossible but for IMF to accept bitcoin for loans might take a very long time because bitcoin is still being criticised by some big nations. This will create a very big impact on bitcoin adoption by individuals and institutes if it is being implemented. But I see little chance of it happening because of the saga that is going on between US and Binance and Kucoin which is still a threat to bitcoin massive adoption presently. If the government of countries are ignorant to promote bitcoin then let's wait and let the adoption be done gradually because as time passes more people will get involved into the bitcoin adoption. Slow and steady wins the race.

[davis196]

The World Bank and the International Monetary Fund will never adopt Bitcoin(or any other cryptocurrency). Period!
I can see the IMF and the World Bank adopting CBDCs, but Bitcoin will never be even close to getting adopted by such global financial organizations. IMF and the World Bank are puppets of the USA and the US financial oligarchy. I think that those organizations are more or less useless. They don't help the underdeveloped countries in any way(giving loans isn't real help). Those organizations are designed to keep the underdeveloped countries dependent from the USA.

[dlightag]

That's a good if a country can start accepting Bitcoin as a means of payment and also taken loan, it going to motivate other countries as well, currently now countries are facing economy challenge's when it comes for financial sectors, which Bitcoin can handle perfectly, secondly Bitcoin operation is not the same as Fiat money, which any mistake made in Bitcoin during payment transaction to another wallet is gone. So before going under going Bitcoin usage, has to deal with education by learning and how it works, and that is reason why most politicians or government official are still lazy to and upgrade they knowledge, by learning how Bitcoin works and use, but the ignorance made them not to accept Bitcoin, but I believe with time, when younger president enter seat, policy's we changed and Bitcoin will be accepted.

[Nwada001]

When nations go to them for financial aid and they tell them that they can give them bitcoin as loan, this would make the nations reconsider their stand in adopting bitcoin as a means of exchange for goods and services. As financial bodies they are, they have strong influence since they set out international monetary policies which these nations look up to for adoption and  implementation in their various nations.

This could really be a good idea, but in the aspect of those financial bodies giving out monetary aid using Bitcoin to other countries, I don't see that as a wise decision based on Bitcoin's nature. Don't forget that the loan that this huge financial body gives out to countries always comes with interest, and when given out a loan on BTC, will you suggest that it should be calculated by the value of BTC as of that time or figure of BTC, because whatever means that's being used, there's going to be some kind of either overvaluation or value reduction? Considering how long countries loans usually take before the repayment period
 
Let's say, for instance, they loan out 100 BTC at the price of $30,000 per 1 BTC, which will be worth about $3,000,000 there plus interest rate, and the loan duration can be about 3 years, which is enough time for Bitcoin to either double in price or go down sideways in price. Whichever it is, it will happen that either part will be at an advantage and the other at a disadvantage, which I don't see as a good option for business.
 
There are better ways that those huge financial bodies can use to promote Bitcoin and increase its adoption aside from the loan part; maybe they can also consider it a means of reserve.

[CryptSafe]

When nations go to them for financial aid and they tell them that they can give them bitcoin as loan, this would make the nations reconsider their stand in adopting bitcoin as a means of exchange for goods and services. As financial bodies they are, they have strong influence since they set out international monetary policies which these nations look up to for adoption and  implementation in their various nations.

There are better ways that those huge financial bodies can use to promote Bitcoin and increase its adoption aside from the loan part; maybe they can also consider it a means of reserve.

Considering bitcoin as a means of reserve would be very interesting. Instead of moving fiat about and spending resources to fly cash about as the case maybe, it will be easier for them to look into using bitcoin as a means of reserve for nations which will in other words reduce expenses moving cash about all in the name of transporting it to their vault in their various nations.

With respect to btc value as at time of loaning, the volume at  which the loan was gotten should be returned as per agreement between both parties because I believe there is always a room for discussion and  negotiation when it comes to obtaining a loan. There should be a benchmark for which the loan should be given in bitcoin and that bench mark should be the binding agreement holding the loan that was taken.

[Broadanbig]

The World Bank and the International Monetary Fund will never adopt Bitcoin(or any other cryptocurrency). Period!
I can see the IMF and the World Bank adopting CBDCs, but Bitcoin will never be even close to getting adopted by such global financial organizations. IMF and the World Bank are puppets of the USA and the US financial oligarchy. I think that those organizations are more or less useless. They don't help the underdeveloped countries in any way(giving loans isn't real help). Those organizations are designed to keep the underdeveloped countries dependent from the USA.

What if the reverse of your opinion becomes the reality and it happens that they agree to use bitcoin as a reserve for savings and they make loan inclusive. Would it not be good for all parties involved?  We know IMF and world bank has a strong affiliation with the US government and through them and member states are financed but I am yet to understand what you mean by this

"They don't help the underdeveloped countries in any way(giving loans isn't real help). Those organizations are designed to keep the underdeveloped countries dependent from the USA."

[OcTradism]

What if the reverse of your opinion becomes the reality and it happens that they agree to use bitcoin as a reserve for savings and they make loan inclusive. Would it not be good for all parties involved?  We know IMF and world bank has a strong affiliation with the US government and through them and member states are financed

They will not do this if Bitcoin price has yet been very stable but you know when Bitcoin price is very stable, it will be less attractive as an investment asset. Invest into an asset which is stable makes no sense and investors will look for better options.

Like recent years they found that Bitcoin is outperforming gold and are more favorite to invest in Bitcoin than in gold.
ROI chart

They will not put their national reserves in big risky condition by adding Bitcoin into their reserves and accept it as loan collateral is more risky.

[Blitzboy]

When nations go to them for financial aid and they tell them that they can give them bitcoin as loan, this would make the nations reconsider their stand in adopting bitcoin as a means of exchange for goods and services. As financial bodies they are, they have strong influence since they set out international monetary policies which these nations look up to for adoption and  implementation in their various nations.

This could really be a good idea, but in the aspect of those financial bodies giving out monetary aid using Bitcoin to other countries, I don't see that as a wise decision based on Bitcoin's nature. Don't forget that the loan that this huge financial body gives out to countries always comes with interest, and when given out a loan on BTC, will you suggest that it should be calculated by the value of BTC as of that time or figure of BTC, because whatever means that's being used, there's going to be some kind of either overvaluation or value reduction? Considering how long countries loans usually take before the repayment period
 
Let's say, for instance, they loan out 100 BTC at the price of $30,000 per 1 BTC, which will be worth about $3,000,000 there plus interest rate, and the loan duration can be about 3 years, which is enough time for Bitcoin to either double in price or go down sideways in price. Whichever it is, it will happen that either part will be at an advantage and the other at a disadvantage, which I don't see as a good option for business.
 
There are better ways that those huge financial bodies can use to promote Bitcoin and increase its adoption aside from the loan part; maybe they can also consider it a means of reserve.

I feel a basic Bitcoin misunderstanding. My friend, loans, interests, and typical financial structures are old-fashioned. The Bitcoin's volatility? A feature, not a bug. It reflects human society's chaos and changing values.

Your scenario is based on the known world, not the emerging one. When financial heavyweights use Bitcoin, valuations will shift. The loan dynamics need a revamp, but who would stick to your outdated model?

There are many Bitcoin promotion methods. But relegating it to reserve status? Similar to employing a spacecraft for city commutes. Widen your view. Consider the immense ocean of possibilities. Maybe try to comprehend a topic before condemning it.