Quote from: Bravut on March 14, 2024, 07:09:50 PM

I have been pondering on the motion of making bitcoin a legal tender, if bitcoin becomes legal tender, it can be used in place of fait currency to purchase goods, used for transactions,etc.
   For me, making bitcoin will take years because that motion will never be assigned by our financial institutions and central banks. The main reason is what we call;

   Decentralisation of Financial Power
   Removing the power to control money and financial asset from
centralized body like; Central banks, and other financial institutions.
Thus our fait currency begin to operate in a decentralized system as
bitcoin.
   And we know that our governments,elites that take the will of the
people at stake will be at the verge of losing everything if that occurs,
meaning the system will be open and run by anyone at all that means f
freedom.
   We all know bitcoin runs in a decentralized system, so making it a legal tender simply means the government will also have control over it and it system which wasn't the original motive of it
   So two colliding forces, which can't be met at all.
I know El Salvador has bitcoin as a legal tender, but can only be used as a means of payment and transaction which also works in other countries.
   IMF,World Bank, Central Banks of countries these are the major controllers and Most powerful institutional bodies,so imagine making this system decentralized.

  What do you think will be the fate of our Economy..?
Let share our ideas on this guys.

What the government threatens to do and what the government can realistically do are two different things.

Whether the government does or does not make Bitcoin legal tender has absolutely no influence on the decentralized and free nature of the blockchain. They will not have influence or control over Bitcoin any way.

Legal tender at this point is nothing but a formal declaration of acknowledgement and support of the blockchain technology called Bitcoin. Which is a good thing for the inevitable international adoption for the new generation of money.

The one's holding the most Bitcoin will be the new billionaires.