Topic: CZ Wants Your Opinion (Read 163 times)
It's been days and the confusing title still wasn't fixed by the op. As for the actual topic, I do think it's only the beginning, but the way it'll go is crucial for further development of events. If El Salvador adopts Bitcoin successfully and gets its economy on the way toward improvement, I'm sure the example will motivate other countries whose economies are in trouble. If the El Salvador experiment gets no results, the impact will be more or less neutral. If it gets worse with Bitcoin than it used to be without it, this will be a major setback. I think there would still appear some countries that recognize Bitcoin as a legal tender eventually, but way slower than if everything goes will with El Salvador.
CZ has just shared his thoughts on El Salvador making BTC legal tender. We can say a new chapter started in the crypto market and it's a hugely positive step for the crypto space and I hope many other countries will follow the same in the coming years and it will help to gain some confidence in new investors or traders who are planning to enter into the crypto market.
No need for a much deep analysis of what CZ tweet. There's no hidden message about that or something he wants to implies.
"Just the beginning" - it will stay like that for years. Don't expect much that other countries will make bitcoin a legal tender. It's already good that there are lots of crypto-friendly countries and I prefer that way. At least, too far from being fully centralized.
It’s just the beginning, most country will adopt to it, even in the countries were it’s not yet a legal tender, the number is really increasing like Nigeria they have been the top using crypto. More countries will approve it as a legal tender.
He is absolutely right this is just the beginning as the Bitcoin will be accepted by the people from all over the world then one by one every country will legalise it. We already know some countries where Bitcoin is legal.
CZ recently tweeted " Only 1 country in the world uses #crypto as legal tender. Just the beginning".
What's Your Opinion. This is really a Beginning or wants to take more time?
What's Your Opinion. This is really a Beginning or wants to take more time?
This is the beginning of course because you can't write off cryptocurrencies and their existence, and also you can't pretend that crypto isn't the way forward, that is, restricting citizens from accessing crypto is more like stopping them from advancing in what is obtainable in the current world era.
The country that adopted crypto and legalized really took a big step, that is, this will open up more access to good opportunities like crypto exchanges, platforms and many more, thus generating more works and of course revenue for their country.
Therefore, I strongly believe this is a nice move by that country and as time goes on, they will start reaping the benefits and it won't be far when other countries will start taking same step.
how is this called cz want to hear our opinion? CZ only made a tweet that was true and didn't ask us to think about it.
but what's more interesting is whether it's just elsavador or will more countries adopt maybe you mean that.
this depends on the policy of the country and the hope is that if the elsavador policy is successful it is not impossible for other countries to follow in his footsteps.
Indeed, there is no question mark in it. He doesn't need an opinion but I think OP does. Maybe he is having a hard time understanding the hidden content of the tweet. but what's more interesting is whether it's just elsavador or will more countries adopt maybe you mean that.
this depends on the policy of the country and the hope is that if the elsavador policy is successful it is not impossible for other countries to follow in his footsteps.
IMO, adoption had been the hardest part when it comes to Bitcoin and as soon as one pops out it becomes the main event.
It could become the first step into Bitcoin being one of the options to transact if ever this will be a success. History will be made and written and who knows if other countries will follow.
yes this is just the beginning. and there will be many countries that will follow suit. CZ knows this, because he believes bitcoin will be adopted by all countries in the world. el salvador being the first, and i read yesterday news ukraine started the discussion to legalize bitcoin and crypto. they have come to draft laws and are currently under discussion. it's like a domino effect that is interconnected. and it is possible that other countries will follow this step
it depends on how the outcome of what El Salvador does. I'm sure now many countries will pay attention to El Salvador about how their country's finances are managed. especially some of the problems that are feared by many countries about the use of crypto and bitcoin as a means of payment.but this is really the beginning of a change in the future.
yes this is just the beginning. and there will be many countries that will follow suit. CZ knows this, because he believes bitcoin will be adopted by all countries in the world. el salvador being the first, and i read yesterday news ukraine started the discussion to legalize bitcoin and crypto. they have come to draft laws and are currently under discussion. it's like a domino effect that is interconnected. and it is possible that other countries will follow this step
how is this called cz want to hear our opinion? CZ only made a tweet that was true and didn't ask us to think about it.
but what's more interesting is whether it's just elsavador or will more countries adopt maybe you mean that.
this depends on the policy of the country and the hope is that if the elsavador policy is successful it is not impossible for other countries to follow in his footsteps.
but what's more interesting is whether it's just elsavador or will more countries adopt maybe you mean that.
this depends on the policy of the country and the hope is that if the elsavador policy is successful it is not impossible for other countries to follow in his footsteps.
Bitcoin does not need to be legal tender to be used. If you think that it is prohibited and people can not use it in countries that it is not legal tender, you are misunderstand it.
Bitcoin is for underbanked and for everyone, in every country.
Legal tender is only one of things to bring Bitcoin to more people on social media. I think Bitcoin will be get accepted more without legal tender. However El Salvador is a good test for the world.
Bitcoin is for underbanked and for everyone, in every country.
Legal tender is only one of things to bring Bitcoin to more people on social media. I think Bitcoin will be get accepted more without legal tender. However El Salvador is a good test for the world.
We are hearing this 10 years since the launch of bitcoin. Bitcoin doesn't need support of governments, its other way around. Most of big economic powers are still not in favor of decentralized bitcoin. Despite this opposition bitcoin has grown in terms of price, market cap and developing huge community.
Quote
Bitcoin is for underbanked and for everyone, in every country.
Globally, about 1.7 billion adults remain unbanked — without an account at a financial institution or through a mobile money provider. (source)
While BTC is open for every single person on this earth. Thats the power of Bitcoin that's frighting big economic powers.
Cz is pro bitcoin, of course, he would say more positive news about bitcoin and he wants to expect us that there will be more countries to legalize bitcoin. Well, El Salvador makes bitcoin legal tender, they will be the barometer for other countries, especially for those who experience a high inflation problem, if that results in the economic growth of El Salvador, then possibly other countries will follow.
This take more time because our country minister or prime minister or banker Don't know about crypto and how crypto work! When they study about this and they saw some better vibe, than we saw hope for legalized
I think cz's statement is not to make all countries make bitcoin their main currency, but about mass adoption which was previously rejected by some countries will start to turn around and start using crypto in their country or transact.
This is still beginning.
This is still beginning.
when the BNB goes to 1K or above
I do not know how many nations will use it as legal tender and I do not know when the next one will be. However, one thing I am 100% certain is the fact that it will happen with another nation without a doubt. It could be just 5-10 nations that accept it as legal tender, it could take 10 years to get to number 10, but I know 100% for sure there will be one more eventually.
El Salvador will not be the only one and there will be more. However, the really interesting thing is that, what if in the next 20-30 years we get to see EVERY nation to start accepting it? I mean it could start with very low economy nations like Venezuela or Zimbabwe to help the nation, and then it could move to just bad, and then it could move to below average and so forth until one day even China and USA starts to accept it? There could be a few nations absent like North Korea and China that is ruled by a dictator, but it is still possible that many nations could do this and then the price will be insane if that happens.
El Salvador will not be the only one and there will be more. However, the really interesting thing is that, what if in the next 20-30 years we get to see EVERY nation to start accepting it? I mean it could start with very low economy nations like Venezuela or Zimbabwe to help the nation, and then it could move to just bad, and then it could move to below average and so forth until one day even China and USA starts to accept it? There could be a few nations absent like North Korea and China that is ruled by a dictator, but it is still possible that many nations could do this and then the price will be insane if that happens.
CZ only tweeted and he's not asking our opinion. It's YOU who is asking. Change the misleading title.
I bet the poster just wanted to make the topic captivating enough to get people to read it without realising it's needless doing so. It's called sensational journalism. Going by Musk's own tweet, he has a positive mindset already that it's just a matter of time before other countries join in the fray –"Just the beginning" as he says. For CZ, reading into that tweet of his, I see a man who is satisfied with the fact that there's motion in place already towards adoption.My opinion on this is simply that Bitcoin, and by extension the entire crypto sector, is better off in the current post Bitcoin halving year than it was in 2017. One can only but imagine the tremendous spike (not the dip we're currently experiencing) had El Salvador been India, Japan or the US. For me, no leap is a small one. There's always a start point for anything and we should also remember that Rome wasn't built in a day, after all.
Let's just wait and see what effect the legality of bitcoin has in the country, if it has a good impact on the country then the effect on bitcoin must be a lot and other countries might consider bitcoin to be legalized
I follow CZ and he is like the news outlet for recent crypto events. Whatever opinion you have he won't care much. Because thats not his purpose for doing that.
So about adoption as it is El Salvador which he is talking about. It had been the goal since Day 1 but it had been a slow decade.
It's a start, I can't say it is a good start for many controversies might come out. All we can do for now is be updated about the news if it will do good for their economy or will it just make it worst.
So about adoption as it is El Salvador which he is talking about. It had been the goal since Day 1 but it had been a slow decade.
It's a start, I can't say it is a good start for many controversies might come out. All we can do for now is be updated about the news if it will do good for their economy or will it just make it worst.
CZ recently tweeted " Only 1 country in the world uses #crypto as legal tender. Just the beginning".
{..snip..}
What's Your Opinion. This is really a Beginning or wants to take more time?
{..snip..}
What's Your Opinion. This is really a Beginning or wants to take more time?
We can't really tell, maybe there will be a lot of nations that will follow El Salvador path's, specially neighboring countries in Latin and South America. Or maybe some in Africa and Asia as well.
So this is a just a beginning, in my opinion. If developing or underdeveloped nations find that bitcoin or crypto will help them a lot then why not? But don't expect though that bitcoin will become the world's financial instrument, I doubt that it will happen, the US dollar is still the king.
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