Quote from: Rruchi man on July 04, 2025, 10:21:19 PM

Quote from: Abiky on July 04, 2025, 10:08:40 PM

What about other countries adopting BTC as legal tender? Is there still a possibility? Or is it "game over"?

The possibilities will always exist so long as any country having it under consideration can learn from the mistakes of El Salvador and strategically make plans to ensure that those challenges that faced El Salvador in making their plan for Bitcoin as a legal tender to fail do not recur in your country.

Yes, any country adopting it will still have to face its own challenges, but learning from the challenges of El Salvador first brings the country's chances closer to success.

Just a quick question, what were the problems that El Salvador faced when it decided to consider BTC as part of their legal tender? I mean on paper, it definitely sounds interesting and innovating given the wonders of the blockchain technology when applied to payments as a whole.

Since you have mentioned that "learning from the challenges of El Salvador first brings the country's chances closer to success.", what were the the expectations and how did everything failed at this point?

Quote from: adaseb on July 07, 2025, 02:45:23 PM

I knew Bitcoin as legal tender wouldn’t work long term because most people don’t know how to use it. This is similar to people paying their debt in Pennies to piss off the impound yard or ticket agencies. But they have to take it since legal tender means a debt owed.

Making bitcoin legal tender I assume was more for publicity than actually solving any issues. And I wonder how many actual debts got paid by bitcoin, probably not many.

I guess this is one issue that El Salvador encountered given that the nature of BTC forces its citizens in their reliance to technology (e.g. mobile phones, etc.) in order to transact their payments.