BTC Now Official Currency in Lugano: Another Milestone for Cryptocurrency - page 2.

Hatchy

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Quote from: Amphenomenon on April 04, 2024, 01:03:55 PM

This is good initiative which may influence other cities and states in Switzerland to follow them also

The adoption is gradually spreading and this is actually another milestone. A good news to the Bitcoin community. Bitcoin has gradually began to gain the popularity it deserve and with many countries joining in on the queue, it won't be longer for some other to join. Elsalvador has been able to convince so many other countries through its profit it has obtain within the period it had held its Bitcoin. I wish more countries from Africa can actually start partaking in this new evolution. If they are able to see how this new innovation can help fix the economic situation in most African states, then in no time we will begin to see developments all around Africa and also the western countries.

buwaytress

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That's pretty much old news though, isn't it? Think even before the 2021 rally they'd already accepted tax payments. Curious to see if the merchants listed on this map still accept Bitcoin. My experience visiting Arnhem several years ago was slightly disappointing, as many shops with the Bitcoin logo didn't actually let me pay (assistants who said they didn't know how to use the service, or simply just offline).

Were I single and available I'd be checking out Lugano for sure =) Been a while since experiencing that simple thrill of Bitcoin payments at physical stores.

Text

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As a crypto enthusiast, it’s exciting to see these developments and the potential they hold for the future of finance. It’s clear that the world is gradually recognizing the value and utility of cryptocurrencies, and it’s only a matter of time before more nations follow suit. This highlights the potential to revolutionize traditional finance, cryptocurrencies are here to stay.

lovesmayfamilis

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Good news.

One of those countries where individual freedom is respected, as well as the understanding that people should and can independently decide what and how to do with their money. The same cannot be said about other countries that passionately ban Bitcoin, allegedly caring that the people are not sufficiently informed about its use and creating the illusion of protecting the people’s assets, but in reality controlling their every move. But as we see, Lugano understands that in her country there are smart people who are able to decide everything with their own heads.

Odohu

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Quote from: TheVeteranAngel on April 04, 2024, 12:16:47 PM

~~ 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-lugano

By all standard, this is good news for Bitcoin. For the government of Lugano to accept taxes in Bitcoin got to show that they consider Bitcoin as legitimate and a worthy medium of exchange. This is expected though following the successes recorded by El Salvador and the inflow of institutional investment following the ETF approval.

I never knew that Bitcoin has made it this far in terms of acceptability. Reading the article, even many big techs are already embracing Bitcoin.

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Take, for example, crypto credit cards jointly issued by global payment companies and trading platforms. Stores and services including Wikipedia, Microsoft, and Google already welcome payments in Bitcoin. The latter exclusively partnered with Coinbase to handle crypto payments for its cloud services. Similarly, Time Magazine teamed up with Crypto.com to streamline digital-asset payments for subscriptions.

From this developments, one can easily conclude that the only way for Bitcoin is up and we expect many businesses to start embracing it soon.

spandamoto

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Quote from: TheVeteranAngel on April 04, 2024, 12:16:47 PM

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-lugano

Paying for high-ticket items and tax bills is practical with BTC. Sure, a tx costs a few dollars so while not ideal for legal tender for everyday purchases, these larger payments are worth it due to how fast the payments are. Bank transfers take a preposterous length of time in current year.

arjunmujay

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Quote from: AmoreJaz on April 04, 2024, 05:21:17 PM

People will also discard the idea that it is only being used for illegal transactions over the net, which sadly, many still have that kind of notion towards this digital currency.

Satoshi himself did not create this for evil purposes. instead it is more about the progress and independence of financial transactions. So it is not surprising that Bitcoin is the most advanced and independent payment system. However, in the past Bitcoin became bad because of the actions of hackers who used Bitcoin as a means of redemption for the attacks they carried out, thus creating a bad stigma against Bitcoin itself.

Gradually more and more people realized how advanced Satoshi's thinking was by creating Bitcoin. and now it is starting to become widely known as an asset that even occupies the top 10 largest assets in the world.

GreatArkansas

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One at a time. This is what I am expecting, it just takes time. It will be like a virus that will spread.
I really appreciate these kinds of country, where they adapt technology, and this technology especially blockchain and Bitcoin will help their country and the people also.

LSDadventure

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Quote from: TheVeteranAngel on April 04, 2024, 12:16:47 PM

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.

It is a good legal adoption for Bitcoin in Switzerland, at least in Lugano. It's another good adoption for Bitcoin in a European country and it can lay down foundation for Bitcoin legal tender in Switzerland in future.

SickDayIn

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Quote from: serjent05 on April 04, 2024, 07:59:40 PM

It is great news that Lugano officially accepts Bitcoin as a mode of payment( I believe they had accept it years ago), but as an official currency, I somehow think that it is an overstatement.

Quote from: Darker45 on April 04, 2024, 07:25:45 PM

I'm not sure what's particularly new in this news. I've been reading news about the Switzerland city of Lugano being friendly with Bitcoin. Is Cointelegraph just recycling news or there's a new development about Lugano's Bitcoin adoption?

If we talk of Bitcoin being accepted by businesses there, this has been going on for a while already. If we talk of taxes and other government invoices in the city, I think Bitcoin has already been accepted by the city as payment as well even before 2024.

Yeah, it looks like they are recycling news to add fuel to the current hype of the Bitcoin market but regardless I do not mind it at all since it brings more positive news that the Bitcoin market can benefit.

I agree "official currency" is an overstatement. The only legitimate case I can see of that is El Salvador and it had top down support from the President. Simply accepting cryptocurrency as a payment for government services, shouldn't be constituted as supporting a new "official currency", unless the highest leadership in that region makes a public endorsement announcement.

serjent05

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It is great news that Lugano officially accepts Bitcoin as a mode of payment( I believe they had accept it years ago), but as an official currency, I somehow think that it is an overstatement.

Quote from: Darker45 on April 04, 2024, 07:25:45 PM

I'm not sure what's particularly new in this news. I've been reading news about the Switzerland city of Lugano being friendly with Bitcoin. Is Cointelegraph just recycling news or there's a new development about Lugano's Bitcoin adoption?

If we talk of Bitcoin being accepted by businesses there, this has been going on for a while already. If we talk of taxes and other government invoices in the city, I think Bitcoin has already been accepted by the city as payment as well even before 2024.

Yeah, it looks like they are recycling news to add fuel to the current hype of the Bitcoin market but regardless I do not mind it at all since it brings more positive news that the Bitcoin market can benefit.

SickDayIn

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It's one thing to endorse purchasing goods and services in your local country with cryptocurrency. However, when the government (i.e. Switzerland), is allowing citizens to make tax payments, as much as I hate tax, it is a huge success and indicator of the future we could have with our own governments. The government accepting tax payments in cryptocurrency indicates they are establishing a mechanism to hold cryptocurrency themselves, so I am curious if they plan to hold it or not. Thanks for sharing the article.

Darker45

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I'm not sure what's particularly new in this news. I've been reading news about the Switzerland city of Lugano being friendly with Bitcoin. Is Cointelegraph just recycling news or there's a new development about Lugano's Bitcoin adoption?

If we talk of Bitcoin being accepted by businesses there, this has been going on for a while already. If we talk of taxes and other government invoices in the city, I think Bitcoin has already been accepted by the city as payment as well even before 2024.

oktana

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This is really great news. I am pleased to read this but not entirely surprised because I would say I saw it coming. That’s how it starts, once a country takes the step, other countries would gradually want to go in. Imagine the other countries who were skeptic if they should do the same. Seeing 2 countries making Bitcoin an actual legal currency will motivate them even more. Can’t wait to see the next country to get into the dance floor.

Maus0728

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Quote from: PX-Z on April 04, 2024, 02:19:45 PM

Nice, it looks like it takes more than 2 years before this to happen which i guess is enough for a authority body to decide what good and bad effect it will take to their governments. Congrats! I wonder if there are people in this forum came from that city. Feel free to share your experience there

Lugano is most likely an experiment to observe the effects of bitcoin adoption/legalization because that much freedom means they're going to have to be getting something out of it right? I really like it if there's people from there that would share their experience but I don't think that it's happening real early.

I don't know if it's going to get bitcoin more valuable though because the way I see it, it going to be used like a currency which isn't bad but the people that's going to be using them and seeing the value that they're giving away because they use it as a currency will probably get a second thoughts about using it that way, I just hope that it won't be the case but given the value, highly unlikely that they're going to use it as a currency for a long time.

Ndabagi01

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Good news coming from another part of the world to encourage bitcoin adoption globally. More countries have been involved in cryptocurrency and trying to see for a way to make it legally used in the country as it becomes the trend around the world today. These countries that are already legalizing the use stand at a bigger advantage than those that will do later because of the information they must have possessed about bitcoin making it easier and simpler for them to use it before it becomes a legal tender globally and a means of exchange in the international market for cross border payments. I have hope in bitcoin and the way it is advancing, it will become legalized one day by every country in the world.

AmoreJaz

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Quote from: arjunmujay on April 04, 2024, 04:46:37 PM

I think this is a follow-up to the news about El-Savador which shocked the world with its success in using Bitcoin as legal payment in its country. Therefore, there are starting to be countries that are opening up to accepting Bitcoin as payment in their country.

Apart from providing financial freedom in a country, the use of Bitcoin as payment has become a bright spot for Bitcoin becoming better known to all levels of society. if that continues, bitcoin will rank first in the world's assets and could eventually beat gold. even though it is rumored that bitcoin is digital gold and deserves to be put on par with current world assets.

Switzerland is I believe one of the countries that is open to crypto market even in the early stages of its inception. So it is no surprise that one of its cities will officially accept btc in their payment/financial transactions. Only a matter of time that other cities will follow thru.

If btc will just be like any regular fiat to be included in the payment sector, this will further boost its popularity and so its demand. Given that it has fixed supply, we already know where the price is heading to. People will also discard the idea that it is only being used for illegal transactions over the net, which sadly, many still have that kind of notion towards this digital currency.

Phoenixtrader

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Quote from: TheVeteranAngel on April 04, 2024, 12:16:47 PM

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-lugano

This is superb news and a giant step towards making Bitcoin acceptable in more countries. I believe that with the integration of crypto payment systems, we'll have a more sophisticated financial infrastructure, as Grace Chen posited. The news about Lugano is just the tip of the iceberg, and we'll soon see crypto play a bigger role in daily payments. People like her are spearheading the adoption of Web3 and crypto through various initiatives, and this news from Lugano is sure to fuel the passion for continued adoption."

Reatim

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This is good news for every bitcoin enthusiast in the world not just those from Lugano. This gives us hope that may be someday we would also be able to have our governments allow bitcoin to become a payment method or a legal tender. This proves how bitcoin will not be going anywhere else anytime soon since many governments seem to be interested in it. Let’s wish for our own country to do the same! Grin

arjunmujay

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I think this is a follow-up to the news about El-Savador which shocked the world with its success in using Bitcoin as legal payment in its country. Therefore, there are starting to be countries that are opening up to accepting Bitcoin as payment in their country.

Apart from providing financial freedom in a country, the use of Bitcoin as payment has become a bright spot for Bitcoin becoming better known to all levels of society. if that continues, bitcoin will rank first in the world's assets and could eventually beat gold. even though it is rumored that bitcoin is digital gold and deserves to be put on par with current world assets.

Topic: BTC Now Official Currency in Lugano: Another Milestone for Cryptocurrency - page 2. (Read 463 times)