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Re: Republic of Suriname is considering a national strategy with BTC
by
Fiatless
on 26/12/2023, 04:05:13 UTC
I imagine Countries all over the world adopting a national strategy with BTC,

the only challenge would be the scalability of Bitcoin. As the network's user base grows, there's a limitation on the number of transactions processed per second. If Bitcoin were to be widely adopted as a global reserve currency, managing a substantial transaction volume could pose a challenge.
The scalability challenge of Bitcoin can be tackled by increasing the block size limit. Although it might have some consequences but it is a good option. Another good alternative is to use the Lightning Network for transactions.

It seems that more countries are considering making fair policies on Bitcoin. We got news recently from Nigeria that the government has lifted sanctions on banks facilitating crypto transactions. My prediction is that next year will be better especially if the SEC approves the ETF this is because many nations see the US as their role model. Some unfriendly nations might begin to change the negative views they have about Bitcoin once the US integrates Bitcoin into their financial system.

Also it will greatly help skeptical people around the world to trust Bitcoin and possible make them intrigued about this tech.
Your views are correct that this kind of news will reduce the amount of doubt people have about Bitcoin and it could lead to more an increase in Bitcoin awareness. Suriname might be a small country but the news is good for the spread of Bitcoin education.