How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.
If we are considering the general economy performance on them each, then individual of them have how they manage the economy affairs of their country for their own good, but when it comes to digital currency adoption or bitcoin, El-Savador is not only leading these countries, but the entire world, there was a move sometimes last year or so about Panama to adopt bitcoin but they couldn't make it to the last stage before the whole thing die down together with their ambition for it.
Maybe they slow down their plans towards adopting bitcoin since they see how volatile bitcoin is that's why maybe they see some risk if they push their adoption while their knowledge is limited about it. But for sure their they continue their study regarding on its another discussion of possible adoption. If they just have the same guts what El Salvador government did for sure they can learn a lot from them and now successful to circulate this currency on their country but we can understand that not all leaders is open for development and there are still people is in doubt regarding on its usage that's why for now let just see if there's new update if Panama successfully make bitcoin as their legal tender or totally back out on the scene. Many people want this to happen since just like what El Salvador did this can create a huge noise and possible it can attract other country to think about doing the same acceptance.
I don't think they have to take a decision on slowing down on bitcoin adoo because if it volatility, there were times that the bitcoin market wasn't favourable to buy and yet El-Savador made decision to buy and hold, am sure by now they are not regretting from what they have done in the past, Panama indecision about bitcoin adoption has to do with the state of the countries economy affairs orchestrated by the political settings that sorrounds the leadership in that country.
How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.
el salvador has become a country that is not only friendly with bitcoin, but has made it legal tender, where no country in the world (aside from CAR) has made such a bold decision. not only the executive, but the legislature in el salvador agreed to the designation of bitcoin as legal tender in the country and that makes el salvador a country that cannot be compared with panama or costa rica in terms of bitcoin adoption.
It is probably better to consider the various countries in terms of a spectrum in terms of how bitcoin friendly they are, and there are no real absolutes, even if El Salvador seems to be (and probably is) the most friendly to bitcoin. It is not black and white, since there are so many things that countries can do that are either friendly or hostile to bitcoin, and sometimes how they relate and/or treat other crypto (shitcoins) may be one of the factors that would help to show whether or not they actually sufficiently understand how bitcoin is different from various other shitcoins. At the same time, it would be difficult to get exact agreement on some of the factors, but still if many factors are accounted for in order to create scores for countries, then maybe they would end up getting a ranking in terms of how bitcoin-friendly they are. Whether in this thread or in other threads, I have seen some maps that show either bitcoin or "crypto" friendly countries..
As it has been discussed, we are not after the title of having bitcoin as a legal tender digital currency in any country to make the breaking news for more adoption, we are after driving a tangible and positive results through the bitcoin adoption which is what El-Savador did and Central African Republic couldn't realized or acheived, now in the case of Panama or Costa Rica, it's better they are taking their time now to make the best out of their indecision when they are fully ready to makena move for bitcoin adoption.
