Topic: Honduras to declare Bitcoin as a legal tender? (Read 560 times)
More and more countries are declarations to legalize bitcoin, bitcoin has passed the benefits and hard tests, massive attacks and FUDs that have been banned from many countries have not killed the community, but continue to grow significantly, even FUDs in various media have become campaigns that make people curious and interested to try to invest in bitcoin so that bitcoin deserves to be a winner and is accepted globally.
I have not clearly seen what can actually happen, according to Xiomara Castro, the president of Honduras has that option on the table, but it is not that she has made the effort to accept it, it would be a good thing because the economy of that country needs it , there are many Hondurans leaving that country for the USA and another country to seek a better life.
However, seeing the numbers of benefits of BITCOIN as they have in El Salvador, it could be said that they are superior to those they handle, a Central American country like El Salvador and Honduras would be an example for the whole world with BTC as local currency.
However, seeing the numbers of benefits of BITCOIN as they have in El Salvador, it could be said that they are superior to those they handle, a Central American country like El Salvador and Honduras would be an example for the whole world with BTC as local currency.
Guys, I don't know if you realize that it was just a rumor coming from Twitter. If you start to listen to rumors on social networks, you will believe the end of the world is coming to the next week and Santa is real.
Nor the central bank or the presidency has said something about it, not even a single word that could give people hope.
And to make it clear, just hours after the allegations began the central bank of the country published a paper to clarify the rumor (you can read it here). Resume: No, they are not interested in Bitcoin, in fact they talk about CBDC, not any crypto.
As soon as it talks about digital currency, people conclude directly with bitcoin. And since the country is close to El Salvador, it can only be that.
Now it is clear that people have overestimated a little too much what remains I repeat: a rumor. The article posted in the original post has even been removed
a brief quote of the press release:
final word: go out, there is nothing to see.
and as a reminder
Nor the central bank or the presidency has said something about it, not even a single word that could give people hope.
And to make it clear, just hours after the allegations began the central bank of the country published a paper to clarify the rumor (you can read it here). Resume: No, they are not interested in Bitcoin, in fact they talk about CBDC, not any crypto.
As soon as it talks about digital currency, people conclude directly with bitcoin. And since the country is close to El Salvador, it can only be that.
Now it is clear that people have overestimated a little too much what remains I repeat: a rumor. The article posted in the original post has even been removed
a brief quote of the press release:
Quote
4. We reiterate that the BCH, considering the importance of the adoption of technological innovation for the offering of payment and financial services, continues with the study and conceptual, technical and legal analysis in order to determine the feasibility of issuing a
central bank digital currency (Central Bank Digital Currency -CBDC-, for its acronym in Spanish).
Currency -CBDC-, which has the characteristic of being recognized as legal tender in the recognized as legal tender in the country and therefore regulated and backed by the BCH.
central bank digital currency (Central Bank Digital Currency -CBDC-, for its acronym in Spanish).
Currency -CBDC-, which has the characteristic of being recognized as legal tender in the recognized as legal tender in the country and therefore regulated and backed by the BCH.
final word: go out, there is nothing to see.
and as a reminder
Quote
Bitcoin for the moment in our country is not regulated (...) BCH does not supervise or guarantee transactions made with cryptocurrencies as a means of payment on the national territory
It’s rumoured that an announcement will be made during the BTC conference in Miami which is in a few weeks. It was during the same event last year that Jack Mallers announced that El Salvador would be using BTC as legal tender via his Strike, Lightning app. I hope it happens any way, would be cool & another baby step on route to widespread, mainstream adoption.
It is truly fascinating to see where countries slowly adapt and realize the importance of having cryptocurrencies integrate into their financial system. Since these countries are starting to view BTC as legal tender, then its citizens can demand something be paid (as debt or as wage) using BTCs.
This will truly benefit BTC in the long-run given its inflationary value and nature. With this kind of development, we can expect its price to somehow increase in the following weeks given this kind of development. I hope more countries again would soon realize and follow this innovation!
I really hope they do, if they do this and then both Honduras and El Salvador ends up paying for al ot of stuff with these bitcoin earnings they will have, that will actually provide a big proof to whole world that the new reserve currency of the world should be bitcoin and stop using dollars. I am not saying that dollars are bad, but bitcoin is pegged to dollars anyway and usually goes up in the long run.
So, not only you are investing into something with dollar pegged, but you are also increasing more than what dollars would have increased. It is certainly a great way to approach crypto world and even bigger nations may soon start to do this.
So, not only you are investing into something with dollar pegged, but you are also increasing more than what dollars would have increased. It is certainly a great way to approach crypto world and even bigger nations may soon start to do this.
They do know that if they adopt early, they will have an early bird advantage when bitcoin becomes mainstream and all other countries starts making it a legal tender. It will be easier for them and their people to work with bitcoin while the reset will still be learning. Even though it is a rumor, it still gives hope to people.
I dont see any reason why there is lots of criticism about Honduras accepting bitcoin, that's if the rumour is true, although they are a small country, the news might make a little impact to the market but I believe this is a good achievement regardless of if its an underdeveloped nation
Doesn't matter if it is a small or a big country. What matters is that they will make it a legal tender and eventually other country will follow their steps.Its still early to adopt BTC as legal tender. Blockchain is just more than 10 years, they shouldn't wait for it to go more than 5 decades before going all in because several county in US already are adopting.
El Salvador is also a small country. Its a testing ground for adoption of cryptocurrency which if they mess up, its easier to fix because after all its just a small country. El Salvador it self is an experiment still and its close to having a success.
They do know that if they adopt early, they will have an early bird advantage when bitcoin becomes mainstream and all other countries starts making it a legal tender. It will be easier for them and their people to work with bitcoin while the reset will still be learning. Even though it is a rumor, it still gives hope to people.
I dont see any reason why there is lots of criticism about Honduras accepting bitcoin, that's if the rumour is true, although they are a small country, the news might make a little impact to the market but I believe this is a good achievement regardless of if its an underdeveloped nation
Doesn't matter if it is a small or a big country. What matters is that they will make it a legal tender and eventually other country will follow their steps. 
If I am not mistaken you can now use your bitcoins directly on paying tax, on transport, and other public service in some parts of Switzerland and in USA but they did not made an announcement about making bitcoin as legal tender, maybe because the use of btc is only limited for now. Let's hope they continue to widen it and of course other countries should follow it too.
You're absolutely right, you can already pay taxes in bitcoin in Arizona, and check out what Lugano (in Switzerland) is doing about bitcoin 
Regarding the US now also Texas and Florida are very open to use bitcoin, and also New York's mayor decided to get his first salaries in bitcoin. It's spreading guys
At first we think it was good news but there could be consequences that a country could face like what happened last time to El Salvador which said the country is in debt by the time bitcoin dumped a lot. Making bitcoin a legal tender seems not easy as we think but the country's economy will now depend on bitcoin other than fiat once they pass the bill.
If I am not mistaken you can now use your bitcoins directly on paying tax, on transport, and other public service in some parts of Switzerland and in USA but they did not made an announcement about making bitcoin as legal tender, maybe because the use of btc is only limited for now. Let's hope they continue to widen it and of course other countries should follow it too.
They were not rich before they adopted bitcoin, hence them being in trouble is not a big news. El Salvador did not become a poor nation because they invested into bitcoin, they were already a poor nation and they are spending the money into bitcoin purchases instead of helping the poor people, and that was seen as a bad thing.If I am not mistaken you can now use your bitcoins directly on paying tax, on transport, and other public service in some parts of Switzerland and in USA but they did not made an announcement about making bitcoin as legal tender, maybe because the use of btc is only limited for now. Let's hope they continue to widen it and of course other countries should follow it too.
But, so far they have done all they could to help people and corruption usually prevented that, this way they are at least trying their best to get richer, if bitcoin does 10x, that would mean the nation would do a lot better. This is why I believe that poor nations could definitely use crypto as a way to make some profit and use that to help their country, it wouldn't hurt them since they are already poor.
- Rumors about Russia accepting bitcoin for oil, not confirmed and most likely fake!
I've just read a post telling that Iran has been doing this for years, and partly with Russia.
Of course, it's a bit strange that they've decide to tell this loudly now, when they could have been continuing to do it without drawing extra attention.
BTC Goes up 6% in price!
That's why I stay out of trading, things don't make any sense when we have confirmed good news the price goes down, when we have fake rumors (like Amazon) we go up even two days later.
That's why I stay out of trading, things don't make any sense when we have confirmed good news the price goes down, when we have fake rumors (like Amazon) we go up even two days later.
Buy the rumor, sell the news!
Actually the same was about the ETF rumors. Some speculators pumped the price a couple of times just because the market had certain expectations.
(And yes, I agree with staying out of trading in this strangely turbulent market.)
The BCH (Central Bank of Honduras), in light of the circulating rumours of BTC becoming legal tender in the country, has made a press release stating essentially that, under the current laws of the country, BTC is not being considered to become legal tender in the country.
Today the finance minister have given statement on it. Malaysia is not going to consider bitcoin and other cryptocurrencies as legal tender considering its limitations. The limitations mentioned were the security concern and the volatility of the market.
Hmm, so let's make a brief summary
- Rumors about Honduras making BTC legal tender - Proven ake!
- Rumors about Malaysia making BTC legal tender - Proven fake!
- Rumors about Russia accepting bitcoin for oil, not confirmed and most likely fake!
- Salvador's claims of over subscription turned into let's postpone this because of market conditions!
BTC Goes up 6% in price!
That's why I stay out of trading, things don't make any sense when we have confirmed good news the price goes down, when we have fake rumors (like Amazon) we go up even two days later.
I've posted this before and I'll post it again.
It would be great news to see another country adopt bitcoin as legal tender. As long as they are transparent about what they are doing. The people need to have a choice in this matter. As many have expressed in the past, the way El Salvador processed it's groundbreaking legal tender law was shady to some degree. I think had the people been aware of this move and by extension given a choice, El Salvador would never have drawn this criticism.
Either way, it would be incredible news to know another country is treating bitcoin as legal tender.
It would be great news to see another country adopt bitcoin as legal tender. As long as they are transparent about what they are doing. The people need to have a choice in this matter. As many have expressed in the past, the way El Salvador processed it's groundbreaking legal tender law was shady to some degree. I think had the people been aware of this move and by extension given a choice, El Salvador would never have drawn this criticism.
Either way, it would be incredible news to know another country is treating bitcoin as legal tender.
This might be fake news,but even if it's true,then so what?
Another small underdeveloped country accepting Bitcoin as a legal tender.Is this a reason for the Bitcoin community to celebrate?It's not like the USA or China adopted Bitcoin as legal tender.
It doesn't make you happy is it because it can't make bitcoin price go up because of that news?Another small underdeveloped country accepting Bitcoin as a legal tender.Is this a reason for the Bitcoin community to celebrate?It's not like the USA or China adopted Bitcoin as legal tender.
When one more person or organization accepts bitcoin, i think that's also a bitcoin success. This is a country, although the 3rd world countries are small and do not have a voice in the world economy like the great powers, but this is a good thing we should be proud of and proud of for bitcoin.
What will happen when all the small, underdeveloped countries of the world accept bitcoin as legal tender?. I think it won't be small anymore. The world is full of surprises so don't look down on anyone, as China is increasingly becoming the world center in place of the US.
The BCH (Central Bank of Honduras), in light of the circulating rumours of BTC becoming legal tender in the country, has made a press release stating essentially that, under the current laws of the country, BTC is not being considered to become legal tender in the country. Moreover, they state that they are considering creating their own CBCD.
In most countries CBDC is getting developed. Malaysia is on the list. Yesterday there were news citing Malaysia will be the next to consider bitcoin legal tender. Today the finance minister have given statement on it. Malaysia is not going to consider bitcoin and other cryptocurrencies as legal tender considering its limitations. The limitations mentioned were the security concern and the volatility of the market.Malaysia is not gonna follow El Salvador and the country is part of the Project Dunbar. The project is testing central banks digital currencies (CDBC).
The Reserve Bank of Australia (RBA), Bank Negara Malaysia (BNM), the Monetary Authority of Singapore (MAS) and the South African Reserve Bank (the Bank) were part of the project. It aims in improving cross border payments through digital currencies making transactions cheaper, faster and secure.
If confirmed, this will be a good step forward, nations will decide their sovereign financial direction rather than just sit there and cry to IMF and world bank that keep them in perpetual debt. I wish African nations and put sentiment outside and adopt bitcoin as a legal tender especially those Francophone nations that are financially indebted to France.
I dont see any reason why there is lots of criticism about Honduras accepting bitcoin, that's if the rumour is true, although they are a small country, the news might make a little impact to the market but I believe this is a good achievement regardless of if its an underdeveloped nation
I'd like to hear your thoughts about this.
Is there anyone with negative thoughts? I don't think so, I guess we all agree it's another huge step for bitcoin! Before El Salvador, now (hopefully) Honduras, soon other countries will follow and it's gonna be very interesting to see when we're gonna have the first very important country actually use bitcoin. Switzerland could be one, but I'm already dreaming too much, I'd be happy to see Paraguay, Panana, Costa Rica for example be added to the list.If I am not mistaken you can now use your bitcoins directly on paying tax, on transport, and other public service in some parts of Switzerland and in USA but they did not made an announcement about making bitcoin as legal tender, maybe because the use of btc is only limited for now. Let's hope they continue to widen it and of course other countries should follow it too.
The BCH (Central Bank of Honduras), in light of the circulating rumours of BTC becoming legal tender in the country, has made a press release stating essentially that, under the current laws of the country, BTC is not being considered to become legal tender in the country. Moreover, they state that they are considering creating their own CBCD.
The press release doesn’t really explicitly and categorically state that BTC won’t become legal tender, but rather it states what is legal currency there (the Lempia), what it is under consideration (CBDC), and which is the only entity which can issue legal tender in the country (them, the BCH).
I presume that it’s not one of those situations where the left hand doesn’t know what the right hand is doing, and that’s it, at least for now …
See:
https://www-criptonoticias-com.translate.goog/comunidad/adopcion/banco-central-honduras-desmiente-adopcion-bitcoin-como-moneda-curso-legal/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp
(In Spanish) BCH statement
The press release doesn’t really explicitly and categorically state that BTC won’t become legal tender, but rather it states what is legal currency there (the Lempia), what it is under consideration (CBDC), and which is the only entity which can issue legal tender in the country (them, the BCH).
I presume that it’s not one of those situations where the left hand doesn’t know what the right hand is doing, and that’s it, at least for now …
See:
https://www-criptonoticias-com.translate.goog/comunidad/adopcion/banco-central-honduras-desmiente-adopcion-bitcoin-como-moneda-curso-legal/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp
(In Spanish) BCH statement
The third world countries accepting bitcoin might not give prices big boost but only little ant pumps could come on which we can't celebrate but the actual happiness is the world accepting the fact that by adopting it as legal tender they can improve their economy is good approach to see it.The USA will also be putting the regulations to accept it but taking small steps to ladder also counts man.
We might gonna say that the countries that are open-minded to adopt bitcoin as a legal tender are those underdeveloped countries, it might not be going to affect greatly the price or may cause pump the price but the thought that there's a country or government body believes in the existence of bitcoin and believes to the worth value of cryptocurrencies for me it is quite enough to consider that crypto is now accepted by the world. I am still optimistic that those big countries will soon to adopt bitcoin also.
I give up for today, trying to scout for news on the so far no new. I’ve gone over local Honduran media for a while now, and there is no such thing as a hint there – not even in light of the event being announced on the crypto media. @Keiser may well be on to something through his contacts, but it’s weird that there is no anticipation over the country’s local media whatsoever.
Many of yesterday’s/today’s crypto media reference their source as being Digit News. I therefore presume it being this article:
https://digitnews.in/the-president-of-honduras-may-announce-the-legalization-of-bitcoin-in-the-country-tomorrow/
Now the above article does not come across as bearing a content close enough to the horse’s mouth to make it the golden nugget of credibility for these news.
Having said that, I’ll remain waiting in hope of being outsmarted by laser eyes on Castro’s Twitter profile over the next hours … (I read another non-sourced comment stating that that would be the sign …)
Many of yesterday’s/today’s crypto media reference their source as being Digit News. I therefore presume it being this article:
https://digitnews.in/the-president-of-honduras-may-announce-the-legalization-of-bitcoin-in-the-country-tomorrow/
Now the above article does not come across as bearing a content close enough to the horse’s mouth to make it the golden nugget of credibility for these news.
Having said that, I’ll remain waiting in hope of being outsmarted by laser eyes on Castro’s Twitter profile over the next hours … (I read another non-sourced comment stating that that would be the sign …)
I think we can confirm all these on Bitcoin 2022 | Miami Beach conference just like the day when Bukele announced his actions. It will also be like what he did so Castro may likely be in the conference or will just send a video for it. I think it will also be legislated quickly. So far we can't yet see any confirmation.
There are many countries citing to legally adopt BTC only a few leaders had vocally expressed it on their social media accounts. Only a few are willing to gamble their political career.
Max Keiser had been roaming in Latn countries spreading the word of crypto actually, I once saw him in some gathering. Seem dipping his toes into politics.
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