Post
Topic
Board Economics
Re: Most crypto-friendly economies in the world
by
coupable
on 10/08/2022, 18:58:20 UTC
In El Salvador in particular, the country encouraged the use of bitcoin by launching a bitcoin wallet application, and everyone who downloaded the application received a $30 reward. In one study comparing the number of residents who downloaded the wallet and did not continue using it after receiving the reward, and those who continued to use the wallet, the difference was too large to say that El Salvador is a crypto-friendly country in the practical sense.
I do not have accurate information, but I do not expect the situation to be any better in the Central African Republic .

They decided to take a strange path. They accepted bitcoin as a means of payment, but launched the state-owned shitcoin, Sango Coin. Reminds me of Venezuela with their Petro. Such countries will not have a particularly strong influence on the bitcoin exosystem, well, except for additional speculation, and the adoption itself promotes this much less. In my opinion, 10,000 new ATMs somewhere in America or Europe, for adoption, will have a greater effect than the recognition of bitcoin as a means of payment in 5 other countries such as the Central African Republic.
The most noticeable thing in the matter of adoption is that the countries that announce adoption are a country that is very close to collapse with an economy damaged by the failed policies of successive governments. The adoption of Bitcoin is like a dance of a slaughtered rooster as a last attempt to contain the bad situation and avoid the people's reaction. Despite this, these countries do not allow the use of Bitcoin outside the scope of financial supervision, while the philosophy on which Bitcoin is based is to free people financially from the power of banks and governments.