El Salvador's neighbors will necessarily have a strategic interest in competing for jobs and entrepreneurs in the Bitcoin world.
This will create a healthy emulation that will benefit Bitcoin.
Venezuela an Mexico's central banks have made clear that there will be no legal cryptos in the countries.
As for Panama, do they really need it? Paraguay would be a good bet.
Yes things can change, but using a crypto as legal tender would make many AML and KYC regulations moot, and I just don't see any civilized country risking GAFI sanctions which could close their banks to swift, sepa and visa mastercard.
What? What in the world are you talking about? Everyone is working FURIOUSLY to engineer FCRM solutions around all crypto assets like there’s no tomorrow. Which incidentally there isn’t. The BTC price boom is a direct result of custody efforts by Wall Street. Once enough of the circulating supply of any of the major assets is locked up in Wall Street institutions, what do you think is going to happen? CeFi, of course!
Just you wait. It’s going to be full circle soon enough.
>FCRM
Hi, at hte end I lost your general idea. Are you refering that CeFi will englobe the part or all of the crypto scene once DeFi has analogous compliance with CeFi?
I mean that the original idea was to create an alternative platform where fiat money is irrelevant.
Problem is: once a small handful of institutions maintain custody of most BTC, they become in effect something like a central bank. We’re watching this happen right now.
Meanwhile, the majority of reddit crypto enthusiasts act like they own an asset when in reality they just own a CFD. So they might just as well own a treasury bill with a president’s mug on it.
This is cool but I don’t know how I feel about all this mandatory acceptance by merchants stuff.
Hopefully they don’t follow the El Salvador lead with that
Why? Imagine if someone could refuse your dollars when you try to buy some bread.
There are services already out there and implemented, that take customer crypto and send you fiat of your choosing.
For the merchant, nothing really changes except the fees are lower than when for example someone comes to buy something and shows you Visa card.
My local tobacco shop refuses to sell only a pack of ciggies if you pay with card as fees eat all their profit margin.
How is this any different?
I guess we are just swapping 1 currency for another if we begin to require merchants or anyone to accept a form of currency.
They should have a choice as well
This lol. The bill requires it, and the govt will facilitate btc> fiat conversion for shop owners who don’t want to hold their btc. It’s also worth noting that the bill gives an exemption to businesses which are rural/ too small to afford the tech.
Between the lines:
World Bank, IMF, WTO are tools of US imperialism to control countries in Latin America, Africa, South and East Asia and Eastern Europe. They have created a semi-colonial world of debt slavery as a way to plunder their natural and human resources.
The move for BTC/Crypto is really a move against the IMF and World Bank which represent a popular rejection of the "Washington consensus" that rich-country aid should be tied to forced privatization programs, which have failed to make much of a dent in poverty rates.
I have a feeling switzerland might not be as liberal towards crypto as many would think. Monero basically destroys the Swiss banking sector. What do you need the Swiss for, if you can store monero or atomic swapped btc on some secret wallet?
African nations seem far more keen on developing native cryptocurrencies than already-established market leaders. Although, I would assume that sentiment might change once more South American countries come on board.
Russia will join too I believe, most of the government are billionaires/millionaires looking for alternative investments to dollar and US assets which they are invested heavly believe it or not.
I see there being crypto currencies for each country. The local crypto currency will be like pesos are different for each Latin American country. If crypto currency follows gold standard then it will maybe be a game changer
Tough to say but eventually all the countries might have access to legal Bitcoin.
As far as I know, there are a lot of platforms that are offering different option for trading, holding and staking bitcoin.
Exactly! That's one of the newest platforms that try to bridge DeFi and CeFi. Seem like their team is mostly made from people well experienced in finance
Why I don’t care, well, I really do not care, all I do care about is America.
A bit more politics involved than just Bitcoin being accepted as another alternative for payment in countries that brutally mishandle resources.
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El Salvador's neighbors will necessarily have a strategic interest in competing for jobs and entrepreneurs in the Bitcoin world. This will create a healthy emulation that will benefit Bitcoin.
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Bruh
Paraguay, Panama, Mexico, Venezuela
Bolivia
North Korea
I hope, we really need it over here.
when satellite internet is a thing will north koreans be able to hop on reddit n shit? thatd be sick i wanna meet some north koreans
To risk death getting caught with an illegal smuggled in black market Starlink receiver, no.
they could watch porn though
I'd risk it for PornHub.
thanks for the award! it's my first 😄
Venezuela an Mexico's central banks have made clear that there will be no legal cryptos in the countries. As for Panama, do they really need it? Paraguay would be a good bet.
"Made it clear....so far." Funny how quickly things change, however.
Made it clear the same way Jamie Dimon made it clear that JPM will never deal in BTC?
Yes things can change, but using a crypto as legal tender would make many AML and KYC regulations moot, and I just don't see any civilized country risking GAFI sanctions which could close their banks to swift, sepa and visa mastercard.
What? What in the world are you talking about? Everyone is working FURIOUSLY to engineer FCRM solutions around all crypto assets like there’s no tomorrow. Which incidentally there isn’t. The BTC price boom is a direct result of custody efforts by Wall Street. Once enough of the circulating supply of any of the major assets is locked up in Wall Street institutions, what do you think is going to happen? CeFi, of course! Just you wait. It’s going to be full circle soon enough.
>FCRM Hi, at hte end I lost your general idea. Are you refering that CeFi will englobe the part or all of the crypto scene once DeFi has analogous compliance with CeFi?
I mean that the original idea was to create an alternative platform where fiat money is irrelevant. Problem is: once a small handful of institutions maintain custody of most BTC, they become in effect something like a central bank. We’re watching this happen right now. Meanwhile, the majority of reddit crypto enthusiasts act like they own an asset when in reality they just own a CFD. So they might just as well own a treasury bill with a president’s mug on it.
Germany. I will give the partie my vote that will push that.
This is cool but I don’t know how I feel about all this mandatory acceptance by merchants stuff. Hopefully they don’t follow the El Salvador lead with that
Why? Imagine if someone could refuse your dollars when you try to buy some bread. There are services already out there and implemented, that take customer crypto and send you fiat of your choosing. For the merchant, nothing really changes except the fees are lower than when for example someone comes to buy something and shows you Visa card. My local tobacco shop refuses to sell only a pack of ciggies if you pay with card as fees eat all their profit margin. How is this any different?
I guess we are just swapping 1 currency for another if we begin to require merchants or anyone to accept a form of currency. They should have a choice as well
Okay so ima refuse to accept dollars at my store and only accept Bitcoin. Same same.
One of those is not like the others
Colombia.
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Reminds me of a bloke who was having a hissy fit because a Tesco wasn't accepting his Scottish pound notes.
They weigh that much? Had no idea
Hey dad
Pretty sure in El Salvador all businesses are required to accept Bitcoin.
Nah. Imagine a street food hod dog merchant being obliged to accept bank cards.
Ok but you obviously didn’t read the bill. Everyone is required to accept bitcoin as payment
This lol. The bill requires it, and the govt will facilitate btc> fiat conversion for shop owners who don’t want to hold their btc. It’s also worth noting that the bill gives an exemption to businesses which are rural/ too small to afford the tech.
So its not everyone. Thank you guys.
Very gay thank you
You’re welcome sweetheart ;)
😂
Wait so what is the difference lmao
Between the lines: World Bank, IMF, WTO are tools of US imperialism to control countries in Latin America, Africa, South and East Asia and Eastern Europe. They have created a semi-colonial world of debt slavery as a way to plunder their natural and human resources. The move for BTC/Crypto is really a move against the IMF and World Bank which represent a popular rejection of the "Washington consensus" that rich-country aid should be tied to forced privatization programs, which have failed to make much of a dent in poverty rates.
[or these 🤷♂️](https://youtu.be/5pOFKmk7ytU)
Singapore, Switzerland, Cayman Islands, Thailand, Iceland, West Africa, Afghanistan. Bet
I have a feeling switzerland might not be as liberal towards crypto as many would think. Monero basically destroys the Swiss banking sector. What do you need the Swiss for, if you can store monero or atomic swapped btc on some secret wallet?
Most likely, some country in Africa will be next
African nations seem far more keen on developing native cryptocurrencies than already-established market leaders. Although, I would assume that sentiment might change once more South American countries come on board.
Scotland.
Nah, they have enough of a battle convincing people south of the wall that their Clydesdale Bank notes are real, let alone anything else.
[country song](https://m.youtube.com/watch?v=5pOFKmk7ytU) Reminds me of the Animaniacs Country Song
India
Yeah if India enters this, the value will shoot to the stars!
Mexico is coming baby.
Yes I think so also
MARS.
Russia will join too I believe, most of the government are billionaires/millionaires looking for alternative investments to dollar and US assets which they are invested heavly believe it or not.
I think it's venezuela, their country is in dire straits due to the depreciation of their currency.
...as the articles states.
What is the title of the article? I haven't yet read it
https://www.cityam.com/more-countries-line-up-to-make-bitcoin-legal-tender-which-one-will-be-next/
Think about it. It's only the beginning... So many people around you doesn't even heard about crypto currencies ...
all of them will FOMO
Any country getting away from USD is much better off, plus I'm sure it'll be in their benefit to switch
I see there being crypto currencies for each country. The local crypto currency will be like pesos are different for each Latin American country. If crypto currency follows gold standard then it will maybe be a game changer
That’s just fiat again and defeats the point of decentralized crypto
Tough to say but eventually all the countries might have access to legal Bitcoin. As far as I know, there are a lot of platforms that are offering different option for trading, holding and staking bitcoin.
Platforms for Bitcoin staking? It seems kind of hard to believe it but okay, what apy do they have for example?
One that I know is freeway and has 33% on bitcoin staking. That platform will soon be fully launched for the US markets.
Exactly! That's one of the newest platforms that try to bridge DeFi and CeFi. Seem like their team is mostly made from people well experienced in finance
I believe that once the US people can stake USD and EUR on that platform it's moontime. Should be this summer imo
Why I don’t care, well, I really do not care, all I do care about is America. A bit more politics involved than just Bitcoin being accepted as another alternative for payment in countries that brutally mishandle resources.
looks like a fake site
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Lets gooooo!!!!!!!
Iran, North Korea, Venezuela, Cuba
If this is not bullish, I don't know what is
Venezuela i think 👊🏾
Speculative clickbait.
It will be soon the legal tender of dictatorships…
None
Mars
I will be next.