Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Whcih countries will be forthcoming on adopting Bitcoin on a natioanl level?
by
TimeTeller
on 28/01/2021, 21:14:00 UTC
⭐ Merited by wxa7115 (1)
With every passing day, we have been seeing more and more institutions and governments becoming forthcoming on the crypto scene. So, what do you think, which countries will take the adoption on a national scale and why?

I don't think that any country will adopt it on a national level any time soon.

Why? There are few obstacles:

- fee on every transaction (LN is a solution)
- MAX number of transactions per block + slow blocks. IN every given country, you have millions to billions of transactions daily. (LN is a solution)
- trans-border trades
- VAT, import, and other taxes (without fluctuating rates)
- 1001 more problems on a national scale
Adopting bitcoin can mean different things for different people, some people think of this as bitcoin replacing the fiat currency of the country but I personally I see it as bitcoin being accepted as legal tender and being accepted in the country alongside fiat currencies.

I think a good candidate for this is Venezuela, Venezuela has been facing economic problems for years and even its government seems to be using cryptocurrencies to avoid sanctions, so it is possible that in the future bitcoin could be made legal tender there during the next decade.

Yes, I think Venezuela has good crypto adoption already.
As I've read before on this link - https://www.coindesk.com/venezuela-pizza-hut-bitcoin-dash
They even are accepting dash, XPT, aside from btc as form of payment.
So maybe, they have a lot more shops or merchants that are now accepting crypto.
And we have the same opinion about adoption on a national level, I see it as being accepted as another legal tender not a competitor of their fiat.