Can small countries in accepting bitcoin as legal transaction?

[peter0425]

The fear of the government is that Bitcoin is took volatile and that is true but if they learn about the Bitcoin history, they will all be aware of the right season to expect huge profit from Bitcoin which is going to be beneficial to the country economy.

If the government were to accept bitcoin as their legal tender, they can't lift this implementation up when bitcoin is not doing well. It is true that accepting bitcoin as a legal tender will help drive their economy by attracting more investors and encouraging spending. Now if bitcoin were to crash, businesses would have to up their prices which is not ideal for anyone much less the government. Knowing when bitcoin will rise, or fall will not do anything for the government but warn them about future challenges.

[Xampeuu]

The fear of the government is that Bitcoin is took volatile and that is true but if they learn about the Bitcoin history, they will all be aware of the right season to expect huge profit from Bitcoin which is going to be beneficial to the country economy.

If the government were to accept bitcoin as their legal tender, they can't lift this implementation up when bitcoin is not doing well. It is true that accepting bitcoin as a legal tender will help drive their economy by attracting more investors and encouraging spending. Now if bitcoin were to crash, businesses would have to up their prices which is not ideal for anyone much less the government. Knowing when bitcoin will rise, or fall will not do anything for the government but warn them about future challenges.

on the other hand, of course the government wants control over the economy in its country, with its own fiat currency, the government can reduce the rate of inflation and can increase the rate of economic growth in its country, this will be different from bitcoin, as you mentioned above, if that happens then it will be difficult what the government will do, because it does not have full control

[bitterguy28]

we know to be the first country in the world to officially accept Bitcoin as legal tender. This was followed by the President of El Salvador, Nayib Bukele, who announced that the government would start buying 1 BTC per day on November 16 2022, but can other small countries follow in El Salvador's footsteps and what are the country's challenges in this regard? This might be a very interesting discussion to see that so many people from small countries are interested in cryptocurrency, more specifically Bitcoin

Not until there is a clear stand of every big government towards bitcoin ? then small countries will be desperately coming to accept or adopt bitcoin .
though in some state of US bitcoin is accepted as legal payment even in a government establishment.

We are all looking for this acceptance , we as bitcoin users but our government seems to be taking long for having this .