Quote from: boyptc on November 10, 2023, 08:35:12 PM

Quote from: simonova on November 08, 2023, 11:59:51 AM

What if some country decides to pay pension to working population in bitcoin ? What percent of people will agree to getting pension in bitcoin in your opinion ? What will be the benefits and limitations of this occurrence in long term on people and economy ?

Let's just take the example of El Salvador, it may not be a pension but it has made bitcoin as a legal tender so that's almost the same IMO.

We've seen the reaction of people there, some are violent, many did liked it and started to adopt because they have no option as that's what the government says so.

Basically, that's going to make their economy volatile just as how Bitcoin is volatile. Maybe we shall see the effect of it in the future and not as close as it may project.

El Salvador is still using USD along with bitcoin, they do not fully use bitcoin for their country so people still have their own choice and are not completely forced to use bitcoin. But if the El Salvador government completely eliminates USD and only uses bitcoin, I think there will be controversy and opposition from the people. Furthermore, it would be very risky for their economy because the value of bitcoin is very volatile, they could even default if they only use bitcoin as currency.