Topic: Bitcoin Adoption In Your Country - page 2. (Read 11555 times)
In my country you can by drugs via crypto. Thats all
in my country, the government strictly regulates cryptocurrency. Officially legal payments are only official money. But the government does not prohibit its residents owning or investing, especially bitcoin. The government only calls for caution on the dangers of bitcoin investment.
In Croatia post office just started crypto exchange https://bitcointalksearch.org/topic/croatian-post-office-now-offer-crypto-exchange-5168879
We already have first officially registered crypto exchange company, several bitcoin ATM's, some small businesses like bakery shop or barbershop accept payment in bitcoin etc.
Recently, Croatian tax office shared official opinion how to report and pay tax on bitcoin earnings so I think that bitcoin adoption in my country it's going really well.
https://bitcointalksearch.org/topic/croatian-post-office-now-offer-crypto-exchange-5168879We already have first officially registered crypto exchange company, several bitcoin ATM's, some small businesses like bakery shop or barbershop accept payment in bitcoin etc.
Recently, Croatian tax office shared official opinion how to report and pay tax on bitcoin earnings so I think that bitcoin adoption in my country it's going really well.
Bitcoin adoption is still a dream as one in thousand or ten thousand of the population is aware about bitcoin. Even the techie people weren't aware about the bitcoin and the technology that is making a change around the globe. There were several committee that work on analyzing the need of bitcoin. Over the years there will be high demand as the production keeps cut down at specific time interval.
In pakistan here was no problem even that fiat exchanges were available but when BTC dumped hard $20k to $3k then government banned cryptocurrency
and all exchanges have to shutdown so now we can only use only international exchanges or P2p system.
Hope so in near future our government will think about crypto adoption.
I am not surprised that the government of Pakistan did just that. We need to approach this issue very carefully, and not be a blind cryptocurrency enthusiast. We really need to imagine the moment when many users of cryptocurrency invested their money in Bitcoin at the end of 2017. Even today, when the price fluctuates around $ 10,000, they cannot even return the funds that they spent to buy Bitcoin. And still have to wait long enough for their financial condition to rise from the bottom. and all exchanges have to shutdown so now we can only use only international exchanges or P2p system.
Hope so in near future our government will think about crypto adoption.
In pakistan here was no problem even that fiat exchanges were available but when BTC dumped hard $20k to $3k then government banned cryptocurrency
and all exchanges have to shutdown so now we can only use only international exchanges or P2p system.
Hope so in near future our government will think about crypto adoption.
and all exchanges have to shutdown so now we can only use only international exchanges or P2p system.
Hope so in near future our government will think about crypto adoption.
Some bumps on the road on the taxation here in Finland. Even a major bank told their employeers not to buy bitcoin on the last bullrun, but things are moving hopefully for better now. Can still withdraw cash with bitcoin anonymously, if i have a prepaid phone, so that's cool.
here in Indonesia government justifies bitcoin as a digital asset but not for legal payment instruments. as citizens and bitcoin trader we really appreciate that and continue to hope that people can get to know more about bitcoin and accept it as a legitimate payment instrument
That won't happen anytime soon, even in my opinion it won't even happen in the next 1 or 2 decades. By accepting bitcoin or other crypto assets as a means of payment, the government and the central bank will lose power to regulate financial stability. Not to mention there is still an assumption that bitcoin is prone to use for crimes such as money laundry, terrorism funding, tax evasion, and others because with the decentralization system, bitcoin cannot be monitored by any party.
There are several conditions for something to be used as a means of payment such as money, including,
1. Portability, easy to carry anywhere.
2. Durability, the resistance of the object.
3. Divisibility, Can be broken down into smaller units.
4. Standardization, has clear standards.
5. Recognizability, globally recognized.
6. Stability of Value, the stability of the value of the object.
7. Elasticity of Supply, the amount is sufficient.
Points 4,5 and 6 are not yet attached to bitcoin so it is still difficult to be accepted as a means of payment globally, especially in Indonesia. Bitcoin's journey to be accepted as a means of payment in Indonesia is still very long.
I think that the general trend in the development of society in the world is aimed at obtaining greater knowledge in the world of digital technologies. Each country is trying to do everything to ensure that the life of the citizens and the government of the country is at a high-tech level. Based on this, despite the many opponents of cryptocurrency, highly developed countries will introduce High-tech including cryptocurrency. In my country, Bitcoin is already beginning to actively use and even a cryptocurrency has been created equivalent to the national currency, Although there are still no legislative solutions yet.
What about in your own native land...how's bitcoin adoption been going on? Is there a bright future in there or maybe is it facing a gloomy and cloudy prospect? Let's talk...
I see a bright future of cryptocurrencies all over the world in every country.In my country, slowly people are beginning to be interested in cryptocurrency,but if you look at the overall scale of such people is not so much.I hope that with the development of many decentralized platforms, interest should increase.
here in indonesia government justifies bitcoin as a digital asset but not for legal payment instruments. as citizens and bitcoin trader we really appreciate that and continue to hope that people can get to know more about bitcoin and accept it as a legitimate payment instrument
Bitcoin is known only by the people who lives mostly in the urban areas in my country and they are the ones who leads in using bitcoin in buying goods. Some offline shops are already accepting cryptocurrencies like bitcoin and xrp for remittance. So far the bitcoin adoption in my country is still slow compared to the other countries like Singapore and Japan.
in my country, a lot of people know and attract with bitcoin. because it can make economy better, and many of us maybe use bitcoin as main job. but there are some people do other job in real life because its to boring and their time wasted if just in here.
im not sure if in my village many people know and play about it. but i hope government implement crypto as payment in some store to make it easy bitcoin user
im not sure if in my village many people know and play about it. but i hope government implement crypto as payment in some store to make it easy bitcoin user
Here is the current situation regarding Bitcoin Adoption in the Philippines:
1. While Bitcoin and other cryptocurrencies are under regulation and therefore legal and people are free to use them, the central bank clearly and repeatedly emphasized the possible risks in using them.
2. Cryptocurrencies especially Bitcoin may be legal but they are not recognized as currencies. They cannot be considered as such because they are "neither issued or guaranteed by a central bank nor backed by any commodity."
3. There are already at least 10 regulated cryptocurrency exchanges here. However, they are registered in the central bank as services in line with payment and remittances and the like.
4. Despite being ruled out as currency, we have restaurants and cafes here that accept Bitcoin payments. We have Bitcoin ATMs as well.
5. Several of our major banks here are already poised toward blockchain and cryptocurrency. One having had a partnership with "Ethereum-based Blockchain, Consensys." A handful are also preparing to create their own stablecoins.
6. There are so many positive developments here regarding Bitcoin or cryptocurrency adoption in general.
Sources:
https://kryptomoney.com/union-bank-philippines-partners-blockchain-consensys/
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southeast_Asia
https://www.coindesk.com/philippines-central-bank-warns-on-risks-of-growing-cryptocurrency-use
1. While Bitcoin and other cryptocurrencies are under regulation and therefore legal and people are free to use them, the central bank clearly and repeatedly emphasized the possible risks in using them.
2. Cryptocurrencies especially Bitcoin may be legal but they are not recognized as currencies. They cannot be considered as such because they are "neither issued or guaranteed by a central bank nor backed by any commodity."
3. There are already at least 10 regulated cryptocurrency exchanges here. However, they are registered in the central bank as services in line with payment and remittances and the like.
4. Despite being ruled out as currency, we have restaurants and cafes here that accept Bitcoin payments. We have Bitcoin ATMs as well.
5. Several of our major banks here are already poised toward blockchain and cryptocurrency. One having had a partnership with "Ethereum-based Blockchain, Consensys." A handful are also preparing to create their own stablecoins.
6. There are so many positive developments here regarding Bitcoin or cryptocurrency adoption in general.
Sources:
https://kryptomoney.com/union-bank-philippines-partners-blockchain-consensys/
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southeast_Asia
https://www.coindesk.com/philippines-central-bank-warns-on-risks-of-growing-cryptocurrency-use
I think that you are very lucky as you live in a country in which crypotcurrencies are legal.
In my country they are neither illegal nor legal. The environment is very unclear which makes investors frightened of investing in cryptos.
The govenrment has in mind cryptos but they don't take any initiative about them.
in my country bitcoin adoption is only limited to being owned as an asset. the government does not prohibit cryptocurrency trading, but the government does not provide legal guarantees. on the other hand the government prohibits the use of bitcoin as a means of payment. but I think this has been the beginning of a good step, because we are still given the space to keep up with the times
In many countries, people know almost nothing about Bitcoin, but even in these countries there are places that accept Bitcoin as payment. But these are isolated cases and this is not enough so that for example I could say that Bitcoin is adopted in my country. I think only after the governments allow Bitcoin to use at least in parallel with traditional fiat currencies, then the adoption of Bitcoin will be massive.
Here is the current situation regarding Bitcoin Adoption in the Philippines:
1. While Bitcoin and other cryptocurrencies are under regulation and therefore legal and people are free to use them, the central bank clearly and repeatedly emphasized the possible risks in using them.
2. Cryptocurrencies especially Bitcoin may be legal but they are not recognized as currencies. They cannot be considered as such because they are "neither issued or guaranteed by a central bank nor backed by any commodity."
3. There are already at least 10 regulated cryptocurrency exchanges here. However, they are registered in the central bank as services in line with payment and remittances and the like.
4. Despite being ruled out as currency, we have restaurants and cafes here that accept Bitcoin payments. We have Bitcoin ATMs as well.
5. Several of our major banks here are already poised toward blockchain and cryptocurrency. One having had a partnership with "Ethereum-based Blockchain, Consensys." A handful are also preparing to create their own stablecoins.
6. There are so many positive developments here regarding Bitcoin or cryptocurrency adoption in general.
Sources:
https://kryptomoney.com/union-bank-philippines-partners-blockchain-consensys/
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southeast_Asia
https://www.coindesk.com/philippines-central-bank-warns-on-risks-of-growing-cryptocurrency-use
1. While Bitcoin and other cryptocurrencies are under regulation and therefore legal and people are free to use them, the central bank clearly and repeatedly emphasized the possible risks in using them.
2. Cryptocurrencies especially Bitcoin may be legal but they are not recognized as currencies. They cannot be considered as such because they are "neither issued or guaranteed by a central bank nor backed by any commodity."
3. There are already at least 10 regulated cryptocurrency exchanges here. However, they are registered in the central bank as services in line with payment and remittances and the like.
4. Despite being ruled out as currency, we have restaurants and cafes here that accept Bitcoin payments. We have Bitcoin ATMs as well.
5. Several of our major banks here are already poised toward blockchain and cryptocurrency. One having had a partnership with "Ethereum-based Blockchain, Consensys." A handful are also preparing to create their own stablecoins.
6. There are so many positive developments here regarding Bitcoin or cryptocurrency adoption in general.
Sources:
https://kryptomoney.com/union-bank-philippines-partners-blockchain-consensys/
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Southeast_Asia
https://www.coindesk.com/philippines-central-bank-warns-on-risks-of-growing-cryptocurrency-use
Bitcoin can be said is still foreign in my country, especially in the place where I live that has very little internet coverage, I hope that in the future everyone here will know bitcoin like me.
Your condition is the same as mine, in my country Bitcoin is still not can to fully accepted and the development of technology here is not as sophisticated as that of foreign countries. only some people adopt Bitcoin in my country, and the rest people know nothing about this currency.So I can say, that's already dude, sooner there will be some progress towards growth in your country.
Here in the Philippines, there are some mobile apps like coins.ph and abra where you can remit money using cryptocurrencies like BCH, XRP, ETH and of course BTC. The function is mostly used by Filipinos abroad who would like to send money to their loved ones. People buy, hold, and trade bitcoin using the said app and its gaining reputation in the public since I first used it some years ago. The use of cryptocurrencies here in the Philippines is not prohibited, so people can use it freely.
In my country, no legislation stopping it for now though few persons have raised issues concerning its usage. As long as you come across any platform accepting it here, it's very okay as no one will embarrass you for that. Though one financial expert in my country already told the central bank to open fronts for technological advancement because he sees cryptocurrencies as the future of financial transactions.
You are lucky enough. My government do not support their citizens to use bitcoin at all even they have regulation that said any valid transaction have to be made by valid fiat that issued by bank central. Jump to: