Post
Topic
Board Bitcoin Discussion
Re: The future of Bitcoin as digital currency
by
_BlackStar
on 27/12/2023, 22:06:59 UTC
-snip-
I honestly couldn't have said it any better. While it is true that there are unquestionable advantages and abilities that Bitcoin can provide to various states and counties that legalize its use, we can't also ignore the fact that there are various factors that need to be considered here.
Of course - this is quite understandable.
Every country that legalizes bitcoin will gain benefits which will ultimately help the economy and state coffers. Taxes are one profit target that can be considered - while increased local economic turnover in various business sectors can also be expected.

Moreover, reiterating what you have stated it is without a doubt true that different countries run different governments and regulations that are vital in making significant decisions or changes such as the legalization or acceptance of a different currency as it will prove to provide a significant change in the market and economy of the country as a whole. Hence, it should be considered that while legalizing Bitcoin may work for some, there is also a high probability that it will not work for others as differences and gaps exist.
Hmmm - the potential for adoption failure might be worth considering instead of just imagining success. However, the system can still be regulated as long as the government is always open to supporting change. They can get an idea of ​​how other countries are doing - if there are obvious mistakes, then other countries can still correct them by not making the same mistakes.

El Salvador is not as perfect as one might hope for in terms of adopting bitcoin as a legal currency - but all countries wishing to adopt bitcoin as a means of payment can use El Salvador as a benchmark for better adoption. In-depth research and openness to change must be a consideration if you want to adopt bitcoin as a legal means of payment – ​​it must also be supported by all groups in society.