I really don't think that btc will be possible to do strong influence on some countries economics, even if they legalize it through the time.
You can say this because you haven't experienced it but take a look at those countries like Japan and study on how did bitcoin contributed to their economy.So what commodity is backing the Philippine peso? and yet, it is still being used as a currency. 
I am so sick of these
governments that are making stupid statements like this. Bitcoin is a commodity and it is also a currency, so they
should just accept that and regulate around it. They are missing an huge opportunity to "double" tax it for both purposes.
They are playing safe and they don't want to be blamed once the citizens invested and later on the price goes down. Instead of encouraging people to support crypto's, they don't but what's good about them is they are not banning it. I am so sick of these governments that are making stupid statements like this.
Bitcoin is a commodity and it is also a currency, so they should just accept that and regulate around it. They are missing an huge opportunity to "double" tax it for both purposes.
How do they prevent a global collapse in stocks and Bonds and other commodities? The US has already started to regulate
Bitcoin as a commodity and they are looking at pegging Bitcoin prices to local {regulated} exchange prices to protect the
consumer. They also built in fail safe measures into Bitcoin futures to protect the consumers. The same things should happen
with Bitcoin in other countries. They should find innovative protection measures to protect consumers/investors.
