For those still skeptical about cryptocurrency's role in the future of finance, recent developments underscore its growing significance as a payment system.
With major institutions and countries embracing BTC as a legitimate form of payment, the security of BTC holders' future is increasingly evident. Notably, global giants such as Google, Microsoft, and Wikipedia now facilitate transactions in crypto.
While El Salvador made headlines by legalizing BTC as a payment option, the recent decision in Lugano, Switzerland, allowing citizens and tourists to transact in BTC—including tax payments—signals further mainstream adoption. This news is undoubtedly welcomed by crypto enthusiasts, with hopes for more nations to follow suit. For further insights, refer to this article by Cointelegraph:
https://cointelegraph.com/news/cryptos-role-daily-payments-beyond-luganoWell, Switzerland is known as money laundering capital and tax heaven of the world. Their banking systems helped politicians and criminals to safely store billions of dollars since a long time now. So it's just a matter of time before Switzerland accepts cryptocurrency as a legal tender in the country. It's now started in a city as a trial run. If it succeeds, soon it will be everywhere in Switzerland.
Good development for sure! Such kind of things surely brings in much needed cheer and liquidity in the market. But I am still skeptical about the future of Bitcoin as a payment processor. It's slow and expensive. The network is jammed quite often and now with the ordinals madness, it's even more evident. Block size debate needs a serious resolution.