Good for them but given that they're still in a dictatorship with Raul Castro in lead, I don't think that we're going to see any difference if bitcoin gets accepted in the country.
Even though the leader Raul Castro has a dictatorial attitude, but maybe the policy of legalizing Bitcoin will have a different effect for Cuba. I believe this is because the agreement to legalize bitcoin is in the hands of leaders in a country 
Topic: Cuba the next country to accept cryptocurrencies? (Read 625 times)
Cuba is a country that has experienced an economic crisis for a long time, a high poverty rate due to uncontrolled inflation is a difficult factor for trying to develop like other countries, if the government tries to legalize bitcoin then this is a smart solution that will make the economy try to rise, of course there will be many an opportunity for all citizens trying to improve the economy if the government legalizes bitcoin.
Before fantasizing about Cuba's economic rise, you should ask yourself and many people here, whether our economy has improved a hundred percent from crypto or just five to ten percent of participants improved, such legalization only targets a small audience in Cuba and this plan also just drifted into history without making any useful contribution to Cuban society. In addition, the flying flag of Cuba is not a symbol that can mobilize resources and promote the role of crypto, it is quite difficult to believe their acceptance. 
Cuba is a country that has experienced an economic crisis for a long time, a high poverty rate due to uncontrolled inflation is a difficult factor for trying to develop like other countries, if the government tries to legalize bitcoin then this is a smart solution that will make the economy try to rise, of course there will be many an opportunity for all citizens trying to improve the economy if the government legalizes bitcoin.
How's the news from Cuba? Began accepting bitcoin and the economy "flourished"? 
People have become richer, prices are more acceptable, private business has received an impetus to development, and the market is saturated with affordable products and goods?
After El Salvador many countries thinking about this specially those are facing some serious troubles around sanctions or other, but its adoption is increasing very quickly, but one matter is going to be against Cuba that they are controlled and bitcoin is self controlled It's completely opposite, and I don't think it's going to solve their current problems because now they are in deep troubles due to their own long term ignorance. People have become richer, prices are more acceptable, private business has received an impetus to development, and the market is saturated with affordable products and goods? If they have no personal agenda or anything related to personal benefits and working for all their peoples, then hopefully this will help them, and they will be able to regroup their economy and able to give peoples their better way of life.
cuba is still considered as a communist country by some political ideologists.
bitcoin will never be acceptable there.
bitcoin will never be acceptable there.
How's the news from Cuba? Began accepting bitcoin and the economy "flourished"? People have become richer, prices are more acceptable, private business has received an impetus to development, and the market is saturated with affordable products and goods?
People have become richer, prices are more acceptable, private business has received an impetus to development, and the market is saturated with affordable products and goods? 
This is really good news! We have already known that Latin American countries have been very interested in making Bitcoin legal tender. El Salvador has started this chain. And now, finally we are seeing a new country doing so also. But this is the first step for it of course. First, they started leaning towards accepting payments with Bitcoin. Next, they will be leaning towards making Bitcoin legal tender as El Salvador.
This is very good news for all of us who are related to the cryptocurrency world. Cause Day by day who will understand the importance of cryptocurrency, they will take positive decision so it will very help another county to take positive decision.This is good development towards crypto ecosystem so hopefully their government will not get discourage for the current market flaws since if they get distracted by the bearish market happening maybe they will think twice about adopting it but so far we can still say that we are doing great eventhough market drops so hopefully they can seal this and adopt the potential of bitcoin towards their system.
The adoption intends for long term results, the first step is to legalize the use of bitcoin and maybe consider it as a legal tender, and eventually, it would result in greater positive feedback on the economy as money will enter their country that does not need to go first with the conversion of foreign fiat.
I think they are inspired by El Salvador, a country that has already adopted bitcoin, and they decided to follow it.
The drop is just temporary, let's bear that in mind and let's believe that it will be bullish in the future as real adoption increases.
Lets hope that this one will be seen by the government since if they find how questionable the market is toward this season then maybe they will back off since we can't deny its a huge threat to their economy if they don't know what they are doing or to do in this current times where bitcoin and alts price drop. Lets see how the new adoption roll and lets hope that they will be the next country announce the adoption of bitcoin and make it as a legal tender on their country.
This is really good news! We have already known that Latin American countries have been very interested in making Bitcoin legal tender. El Salvador has started this chain. And now, finally we are seeing a new country doing so also. But this is the first step for it of course. First, they started leaning towards accepting payments with Bitcoin. Next, they will be leaning towards making Bitcoin legal tender as El Salvador.
This is very good news for all of us who are related to the cryptocurrency world. Cause Day by day who will understand the importance of cryptocurrency, they will take positive decision so it will very help another county to take positive decision.This is good development towards crypto ecosystem so hopefully their government will not get discourage for the current market flaws since if they get distracted by the bearish market happening maybe they will think twice about adopting it but so far we can still say that we are doing great eventhough market drops so hopefully they can seal this and adopt the potential of bitcoin towards their system.
The adoption intends for long term results, the first step is to legalize the use of bitcoin and maybe consider it as a legal tender, and eventually, it would result in greater positive feedback on the economy as money will enter their country that does not need to go first with the conversion of foreign fiat.
I think they are inspired by El Salvador, a country that has already adopted bitcoin, and they decided to follow it.
The drop is just temporary, let's bear that in mind and let's believe that it will be bullish in the future as real adoption increases.
This is really good news! We have already known that Latin American countries have been very interested in making Bitcoin legal tender. El Salvador has started this chain. And now, finally we are seeing a new country doing so also. But this is the first step for it of course. First, they started leaning towards accepting payments with Bitcoin. Next, they will be leaning towards making Bitcoin legal tender as El Salvador.
This is very good news for all of us who are related to the cryptocurrency world. Cause Day by day who will understand the importance of cryptocurrency, they will take positive decision so it will very help another county to take positive decision.This is good development towards crypto ecosystem so hopefully their government will not get discourage for the current market flaws since if they get distracted by the bearish market happening maybe they will think twice about adopting it but so far we can still say that we are doing great eventhough market drops so hopefully they can seal this and adopt the potential of bitcoin towards their system.
This is really good news! We have already known that Latin American countries have been very interested in making Bitcoin legal tender. El Salvador has started this chain. And now, finally we are seeing a new country doing so also. But this is the first step for it of course. First, they started leaning towards accepting payments with Bitcoin. Next, they will be leaning towards making Bitcoin legal tender as El Salvador.
This is very good news for all of us who are related to the cryptocurrency world. Cause Day by day who will understand the importance of cryptocurrency, they will take positive decision so it will very help another county to take positive decision.This is really good news! We have already known that Latin American countries have been very interested in making Bitcoin legal tender. El Salvador has started this chain. And now, finally we are seeing a new country doing so also. But this is the first step for it of course. First, they started leaning towards accepting payments with Bitcoin. Next, they will be leaning towards making Bitcoin legal tender as El Salvador.
This is very good news for all of us who are related to the cryptocurrency world. Cause Day by day who will understand the importance of cryptocurrency, they will take positive decision so it will very help another county to take positive decision. 
So I am assuming, previously, they are converting their crypto mostly via p2p exchange?
Yeah, I wonder about that too. I'm also wondering what the adoption rate for bitcoin is in Cuba, though I doubt there's any reliable data on that. If this is true and Cuba is planning on "legalizing" bitcoin (I'm not sure that word is appropriate here), I think that's a fantastic thing as long as the Cuban government doesn't require its citizens to register their BTC addresses or anything like that. That would be a surveillance nightmare. Too bad there isn't a Cuban local board on bitcointalk. I suspect there are reasons why one doesn't exist.
Lately, I have been thinking that bitcoin is just a tool that governments cannot like if they want to carry out the usual monetary policies. Typically, most governments tend to print money near the elections or under any excuse available. If you adopt bitcoin you would have an economy that, on one side, will have a legal tender that is inflationary and then bitcoin, which for now is deflationary.
What would you pay salaries and pensions with? What would you hold as a reserve? I can only imagine the politics around these decissions.
So I am assuming, previously, they are converting their crypto mostly via p2p exchange?
Yeah, I wonder about that too. I'm also wondering what the adoption rate for bitcoin is in Cuba, though I doubt there's any reliable data on that. If this is true and Cuba is planning on "legalizing" bitcoin (I'm not sure that word is appropriate here), I think that's a fantastic thing as long as the Cuban government doesn't require its citizens to register their BTC addresses or anything like that. That would be a surveillance nightmare. Too bad there isn't a Cuban local board on bitcointalk. I suspect there are reasons why one doesn't exist.
When El Salvador accepts bitcoin as a legal payment then they get a lot of benefits, this certainly makes other countries to follow El Salvador. now Cuba is planning to accept bitcoin so this will make the future of bitcoin even brighter, I'm sure bitcoin will continue to skyrocket so that it becomes the most valuable asset if it is legalized in Cuba.
The case of El Salvador is very different from that of Cuba, because El Salvador enjoys many freedoms, freedoms that people enjoy having facilities to acquire goods and services, houses, cars, credits, which is very different from Cuba where everything is Centralized by the government, the government is the one who decides anything for its inhabitants, although BTC entering Cuba would be something exceptional, it would be an exit for many, but as long as Cubans trade with BTC and cryptocurrencies away from any control for part of your government.
Anyway, if they manage to adopt it in Cuba, it would be a higher demand volume for the entire crypto market, which would cause BTC to rise more in price, this would be a good consequence for the market in general.
Cuba is my favorite country for a long time, I can't wait to see it officially try to become a crypto-adopting country like El Salvador. the Cuba economy will definitely boost when they officially make bitcoin a legal tender too..
After El Salvador's making Bitcoin legal tender, we are finally seeing another country which is leaning towards accepting Bitcoin as a payment method at least. Latin American countries have been observing El Salvador's actions since it made Bitcoin legal tender. They just want to understand the possible results of taking such action. And it is totally normal actually. Because Bitcoin is a volatile asset. It is not easy to make big decisions like this.
I'm glad that there are finally other countries that might be inspired by what El Salvador did by making Bitcoin a legal tender. This is a very good thing
with more and more countries starting to accept Bitcoin, will indirectly make Bitcoin more popular and of course the price of Bitcoin will also increase.
This is a positive trend that the crypto community is hoping for, as more countries accept Bitcoin, then the Bitcoin adoption process will be faster.
Question for all participants in this topic:
1. Please answer the question - how exactly, the adoption of bitcoin as a means of payment, solved the problems of the stagnating economy and the local population? Just write in more or less detail what will happen?
2. If the main advantage of bitcoin is deflationary, or at least non-inflationary model, what prevents the state from carrying out a reform, replacing the existing depreciated pesos with stable pesos, with a non-inflationary concept?
Bitcoin will not solve the problems of the stagnant economy, however it can solve one of the big problems that Cubans are facing, those that are outside the country and have family there would like to send money to their family members but a great deal of that money is stolen by the government, so what do they do? If they do not send the money then their family members suffer but if they do then they support the government they hate so much, by using bitcoin they can send money to their family members while at the same time they avoid to support the government, and that is huge.1. Please answer the question - how exactly, the adoption of bitcoin as a means of payment, solved the problems of the stagnating economy and the local population? Just write in more or less detail what will happen?
2. If the main advantage of bitcoin is deflationary, or at least non-inflationary model, what prevents the state from carrying out a reform, replacing the existing depreciated pesos with stable pesos, with a non-inflationary concept?
Then the question is - what was forbidden to them "yesterday" to send bitcoin or any other crypt to their relatives? There is Internet in Cuba, I know for sure, good or bad, this is another question, but it exists, and this is already enough for accepting transactions!
The fact that the Cuban government is thieves and they stole money from Cubans living in other countries and helping their families - so this problem will not be solved by the crypt, they can in the same way, since it is an OFFICIAL decision, make a gateway or the like, which will have a monopoly right to pass such payments, and everything will happen again ...
It is unlikely that the government, which is used to robbing its people, will suddenly "bite off the hand" that puts them in their pockets?
Until no final confirmation about their acceptance, it was still uncertain and these leaders might change their decisions as well. Those countries who are giving support to crypto are subject to this but can't hide the fact that it needs a law to cover such action which takes months or even a year before it is officially and legally proclaims as an accepted currency. But for now, it was still a rumor until it was finalized and of course, this was a job opportunity for the Cubans.
That is not correct, because if we could talk about it and predict it beforehand then we could make a profit based on it. El Salvador may have not been a big one but Cuba is bigger and it doesn't stop with just Cuba neither, that would make it second nation and then a third will appear and a fourth and it will grow. Which means if we could invest right before it happens and sell right after then we could actually make a profit based on the news.This is why people keep talking about it, yes it is uncertain and we will never know until they make it legal but that doesn't mean that we should just sit and wait for them to make it legal, we should try to guess if they will do it or not in order to make a lot of profit. Cuba making crypto a legal tender will surely have a big impact over the world and that is what we need to predict right now, that is a big discussion.
Question for all participants in this topic:
1. Please answer the question - how exactly, the adoption of bitcoin as a means of payment, solved the problems of the stagnating economy and the local population? Just write in more or less detail what will happen?
2. If the main advantage of bitcoin is deflationary, or at least non-inflationary model, what prevents the state from carrying out a reform, replacing the existing depreciated pesos with stable pesos, with a non-inflationary concept?
Bitcoin will not solve the problems of the stagnant economy, however it can solve one of the big problems that Cubans are facing, those that are outside the country and have family there would like to send money to their family members but a great deal of that money is stolen by the government, so what do they do? If they do not send the money then their family members suffer but if they do then they support the government they hate so much, by using bitcoin they can send money to their family members while at the same time they avoid to support the government, and that is huge. 1. Please answer the question - how exactly, the adoption of bitcoin as a means of payment, solved the problems of the stagnating economy and the local population? Just write in more or less detail what will happen?
2. If the main advantage of bitcoin is deflationary, or at least non-inflationary model, what prevents the state from carrying out a reform, replacing the existing depreciated pesos with stable pesos, with a non-inflationary concept?
After El Salvador's making Bitcoin legal tender, we are finally seeing another country which is leaning towards accepting Bitcoin as a payment method at least. Latin American countries have been observing El Salvador's actions since it made Bitcoin legal tender. They just want to understand the possible results of taking such action. And it is totally normal actually. Because Bitcoin is a volatile asset. It is not easy to make big decisions like this.
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