if country has fully adopted crypto and they are releasing their own stablecoin - page 2.

Coin BTC

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

I was wondering about this. many people want to encourage crypto adoption in their country. but whether when adoption happens they will use it. or they are more comfortable using FIAT.

I firmly believe that in the future countries will release their own crypto coins. A very good step taken by Elsavador to legalize bitcoin, this can be an example for other countries to carry out the same steps as those applied in Elsavador..
Big countries like the United States have accepted crypto miners.

Luffygroove

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I think cryptocurrencies are in a development period now, there are still many things to be fixed before people have faith and confidence using them in daily life. However, If I live in a friendly crypto country or even the one that has already legalized it, I think I'll try to familiarize myself using cryptocurrencies in my daily life because I believe that cryptocurrency is the future. IMHO as an adopter, we still have another option too to use Fiat when it's needed, so it's actually flexible for me. It depends on the needs.

ene1980

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

I was wondering about this. many people want to encourage crypto adoption in their country. but whether when adoption happens they will use it. or they are more comfortable using FIAT.

The basic answer you need to give is whether you are willing to spend a transaction fee for each and every minor transaction if you are advocating cryptocurrency adoption. You cannot expect everyone to invest in cryptocurrency and start using it to trade for day to day transactions. For businesses they can accept cryptocurrency and they can give the option to the end user.

Galley

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If cryptocurrency is accepted as legal tender in my country, then I will only welcome it. Your own cryptocurrency can be used quite successfully in your country. It will be very convenient. And for all external payments, you can use our favorite bitcoin.

o48o

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Quote from: Findingnemo on October 18, 2021, 10:57:27 AM

You need to understand the basics first, if a government legalized the decentralized cryptos then they will not implement another thing called their own cryptocurrency aka CBDC. Basically the central banks tokens are here to fight with the decentralized cryptos and just wanted to ensure there will be no freedom to use our own money.

I honestly don't see that even as a fight. As long as price stability is pegged it's just too centralized, and anything too decentralized doesn't have a fighting change against Fiat money as they are not designed for same use cases. Inlfation in fiat money is acting like a buffer to the whole country stable. While cryptocurrencies are not designed to befenefit a one country. Also the scarcity could influence our economic behaviour how we currently are spending money.

bhadz

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Whatever is preferred by most merchants then that's the crypto that I'll be keeping for purchases and won't spend bitcoin most of the time. I'll just hold bitcoin as my asset.
And this is likely for the other people too that are living on that country that has became a crypto friendly country. Having their own stable coin isn't really like the one that we're used to, it's just like going to be digital transactions in the form of their own made crypto.

Teknisi88

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El Salvador has just become the first country to officially adopt Krypto's currency as a legitimate payment tool, and several other Latin American leaders have indicated that they will follow. This is a significant change for Bitcoin's reputation on the world stage.
Supported by technology called blockchain or digital books, Bitcoin holders enjoy a quick and safe way to make payments or receive funds. And El Salvador clearly has the need to receive funds quickly.

yhiaali3

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Of course I will choose cryptocurrencies because the national currency in my country is collapsing and suffers from inflation and many other problems. It loses its value daily. As for the cryptocurrencies that I will choose, there are two things to pay attention to:
1- Daily transactions such as shopping or paying bills and others, such things need stable coin and small fees when transferring, so I will choose Tether USDT for daily transactions.
2 - For safety, long-term investment and maintaining the value of my financial assets, I will use Bitcoin because it is a store of value and also a successful long-term investment. It is like gold.

Yogee

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Findingnemo already said what I was thinking. Just take a look at China and India or other countries that are banning or trying to restrict the use of crypto.

There is also zero point in issuing a CBDC while allowing privately owned and centralized stable coins like USDT. It's like allowing a foreign currency used freely in your own country.

Findingnemo

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

I was wondering about this. many people want to encourage crypto adoption in their country. but whether when adoption happens they will use it. or they are more comfortable using FIAT.

an example is a country has fully adopted crypto and they released their own stablecoin. they also legalize some other big crypto coins like bitcoin, ethereum, and some stablecoins like USDT or DAI. and you become one of the citizens of that country. which one will you use for daily transactions. stablecoins issued by your country's central bank, or mainstream crypto coins like bitcoin. or privately released stablecoins such as tether. or keep using cash because you are used to it. and give the reason why you chose that coin.

You need to understand the basics first, if a government legalized the decentralized cryptos then they will not implement another thing called their own cryptocurrency aka CBDC. Basically the central banks tokens are here to fight with the decentralized cryptos and just wanted to ensure there will be no freedom to use our own money.

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

I was wondering about this. many people want to encourage crypto adoption in their country. but whether when adoption happens they will use it. or they are more comfortable using FIAT.

an example is a country has fully adopted crypto and they released their own stablecoin. they also legalize some other big crypto coins like bitcoin, ethereum, and some stablecoins like USDT or DAI. and you become one of the citizens of that country. which one will you use for daily transactions. stablecoins issued by your country's central bank, or mainstream crypto coins like bitcoin. or privately released stablecoins such as tether. or keep using cash because you are used to it. and give the reason why you chose that coin.

all depends on the goal. if it's about domestic transactions, I'll use government-issued crypto. but if i want to do transactions between countries, coins like bitcoin will be my choice. when adoption has become a reality. I don't need FIAT anymore, because cashless makes me more comfortable. for stablecoins like tether, it doesn't seem necessary anymore because it's better to use coins released by my country's central bank.

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Quote from: FulxilCoris on October 18, 2021, 06:57:04 AM

Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

I was wondering about this. many people want to encourage crypto adoption in their country. but whether when adoption happens they will use it. or they are more comfortable using FIAT.

an example is a country has fully adopted crypto and they released their own stablecoin. they also legalize some other big crypto coins like bitcoin, ethereum, and some stablecoins like USDT or DAI. and you become one of the citizens of that country. which one will you use for daily transactions. stablecoins issued by your country's central bank, or mainstream crypto coins like bitcoin. or privately released stablecoins such as tether. or keep using cash because you are used to it. and give the reason why you chose that coin.

I don't like being regulated by central and state banks in my country, that's why I choose to use BTC as one of my top choices, even though fiat or USDT is weighted. remind. is currency. Stablecoin money but if regulated by the state bank, I will still choose to use BTC or ETH because it makes me feel great and own my own coin without being controlled by anyone ..You can follow the same news all the CBDC banks they always want to create their own stablecoin.

Investing in cryptocurrencies is a very correct decision. Even despite their high volatility, they bring profit much more than, for example, deposits in the banking system. And of course, the fact that thanks to cryptocurrencies you can feel independent and calmly speaks about their excellent prospects and ever-growing popularity.

Baofeng

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

an example is a country has fully adopted crypto and they released their own stablecoin. they also legalize some other big crypto coins like bitcoin, ethereum, and some stablecoins like USDT or DAI. and you become one of the citizens of that country. which one will you use for daily transactions. stablecoins issued by your country's central bank, or mainstream crypto coins like bitcoin. or privately released stablecoins such as tether. or keep using cash because you are used to it. and give the reason why you chose that coin.

Depends, maybe there are situations that really calls for CBCD to be used then I will used it.

But bitcoin and others have their own purpose, I mean it's borderless, so maybe that's the time that you need to used it, whether you want to send or received it from someone, like love ones across the globe.

The good thing is that you have options now, and it's up to you which one fits you better, CBCD or crypto or fiat.

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

I was wondering about this. many people want to encourage crypto adoption in their country. but whether when adoption happens they will use it. or they are more comfortable using FIAT.

an example is a country has fully adopted crypto and they released their own stablecoin. they also legalize some other big crypto coins like bitcoin, ethereum, and some stablecoins like USDT or DAI. and you become one of the citizens of that country. which one will you use for daily transactions. stablecoins issued by your country's central bank, or mainstream crypto coins like bitcoin. or privately released stablecoins such as tether. or keep using cash because you are used to it. and give the reason why you chose that coin.

I don't like being regulated by central and state banks in my country, that's why I choose to use BTC as one of my top choices, even though fiat or USDT is weighted. remind. is currency. Stablecoin money but if regulated by the state bank, I will still choose to use BTC or ETH because it makes me feel great and own my own coin without being controlled by anyone ..You can follow the same news all the CBDC banks they always want to create their own stablecoin.

crwth

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It's kind of hard to encourage the adoption of crypto if no one fully understands it. It's hard to follow if they have no idea what it is. The tendency of layman is that they could get scammed with having that lack of knowledge. That scares me the most when it comes to having the opportunity of people being involved in crypto.

As for the country's development and release of their stablecoin, I think it's best to be the banks there who would facilitate. It would act as "fiat" through digital means, but its background is with blockchain technology or with what stable coins use.

Better opt for inflation prevention.

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

but whether when adoption happens they will use it. or they are more comfortable using FIAT.

I think it depends on what they need but for now some people including me it's much comfort when using Fiat for daily needs but for some digital transactions i prefer Crypto and beside that it's have some scalability problem and compex things comparing to Fiat where you just can get the cash and buy everything so it's still a long journey for crypto.

Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

stablecoins issued by your country's central bank, or mainstream crypto coins like bitcoin.

There already some example out there like China or Turk with upcoming CBDC, Digital lyra or yuan beside that as you can see ecuador with bitcoin as an legal tender but still need some time to see the full efect of crypto especially bitcoin.

joniboini

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It depends on what you're trying to buy. Overseas transaction might require BTC regardless of where you live, since merchants won't like to launch support for fiat from some country where their user base is just a hundred or so. I doubt any VPN or other privacy tools also like to use fiat. It will coexist just like today.

meanwords

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

an example is a country has fully adopted crypto and they released their own stablecoin. they also legalize some other big crypto coins like bitcoin, ethereum, and some stablecoins like USDT or DAI. and you become one of the citizens of that country. which one will you use for daily transactions. stablecoins issued by your country's central bank, or mainstream crypto coins like bitcoin. or privately released stablecoins such as tether. or keep using cash because you are used to it. and give the reason why you chose that coin.

If they released an official stablecoin and it is much more convenient to use than mainstream crypto like Bitcoin, it's pretty obvious that people would use the stablecoin. Especially when we are talking about fees and transaction speed. Stablecoin can have those advantage.

khiholangkang

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

which one will you use for daily transactions. stablecoins issued by your country's central bank, or mainstream crypto coins like bitcoin. or privately released stablecoins such as tether. or keep using cash because you are used to it. and give the reason why you chose that coin.

Of course the tokens issued by our country. Why ? Of course this is highly recommended by the government, and also the transaction fees will be very low compared to BTC or other altcoins.

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Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

which one will you use for daily transactions. stablecoins issued by your country's central bank, or mainstream crypto coins like bitcoin.

Stable coin and bitcoin have different purpose and im sure that people will be using both of coins in their daily life. People are using bitcoin to trade and they will be taking profit through stable coin which can keep their profit will not be affected by the volatility.

Quote from: sulis sudibyo on October 18, 2021, 02:17:15 AM

or privately released stablecoins such as tether. or keep using cash because you are used to it. and give the reason why you chose that coin.

That depends on the various things. Remember that when you're using tether based on the scalable network, the transaction fees will be so cheap. It can be said that if people will always still use tether instead of cash caused by thether adopted globally by various exchange site but your question was so weird.

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