Post
Topic
Board Bitcoin Discussion
Re: Singapore is the second country to follow in El Salvador's footsteps, do you agr
by
tbct_mt2
on 20/08/2022, 11:01:07 UTC
Bitcoin being a legal tender in a country is a different story compared to other regulations from some countries, Singapore is the best example by OP.
By design, with a decentralized network and non custodial wallets, Bitcoin does not require to be accepted as legally or legal tender to be used. All human can use Bitcoin. Legal tender is only a booster for Bitcoin adoption but without legal tender, it will still be accepted.

Quote
El Salvador's current situation on Bitcoin is superb compared to other countries even as you say crypto-friendly country. So, if Singapore will start using Bitcoin as an "official" legal tender, that's the time I can consider Singapore followed El Salvador.
El Salvador is a country with massive support from their president and government but after 2 years, we can verify that the adoption can not be reached by legal tender. Education first and legal tender can has good effect.