Quote from: NotATether on January 18, 2024, 09:07:00 AM

Quote from: KupaCrypto on January 07, 2024, 10:01:25 PM

Since it has to do with the government another agency can be set up in the country in respect to paying salaries as Bitcoin which will somehow help in the growth of the economy of the country.

Government agencies are full of bureaucrats who slow down every process, and this includes Bitcoin. They don't necessarily hate it, but the way a government works is that everything is usually done at a snail-pace, so in other words, months or years.

Also, the central banks of those countries would be fiercely opposed to anything involving bitcoin, since that would hurt the banking systems in those countries.

Believe me, when I say it will be done very fast, if there are something in it for them. Let's take these examples :

1. Let's say your country are being sanctioned by other countries, then you have an incentive to bypass the sanctions with say Crypto currencies. (This will motivate the government leaders to push for this change)

2. Let's say your government are corrupt and you want to hiden bribes and payments, then you will quickly move to a currency that can help you with that. (Monero)

3. Let's say you destroyed your local currency (hyper inflation) and you need another currency to protect the value of your wealth.

4. Let's say the majority of your voters wants to use the new currency and they base their decision to vote for you on your support for this, then they will rush the process.

In cases like this, countries will rush the implementation of new currencies or new technologies, because they are getting something from it.