Quote from: arabspaceship123 on Today at 04:08:48 PM

Bitcoin can't become a global reserve asset like gold unless it's backed by rich countries. El Salvador's a small country it's decisions don't affect other countries. If BRICS G8 or G20 want to make bitcoin a global asset it's possible.

Everything is possible but it just takes time most times to happen. We know that where El Salvador stands today cannot be compared to where countries in BRICS or G20 stands, but with their interest in bitcoin as one or the countries that have taken the first step towards bitcoin being seen as a legal tender, then they can become bigger than they happen to be now. They have hold quite a large number of bitcoin that when it’s been used as a reserve will cause the bitcoin market to plummet and make them high returns in their investment in bitcoin.

Quote from: hyudien on Today at 07:47:10 PM

When a country wants to adopt Bitcoin to be used as a state reserve, it means it must get approval from all parties and the process will not be easy. Moreover each parliament with different views on Bitcoin is the biggest obstacle why not many countries quickly adopt it. The stages are quite long but the outline also raises concerns if the majority of Bitcoin holders fall into the hands of the government.

Many countries quickly adopting bitcoin is what we’re all anticipating for now but I feel it’s going to take some time as this process is not something that can be decided by one person in a country. They need to look into the advantages of it and how to adopt more the after effect of it that will make them benefit from such investment. It’s a gradual process and we will get there one day too.