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Topic: IMF reject BTC adoption (Read 228 times)

hero member
Activity: 2184
Merit: 531
February 28, 2023, 02:27:49 PM
#27
Does IMF stand for International Institute of Mother Fuckers? If yes then that'd explain a lot. If not then who cares, right? Bitcoin is a rogue element in this totalitarian world of fiat ruled economy.

They do because they're a group that looks for poor countries in need of loans and offer these loans and wrapping it all in a pretty packaging by saying they wantthe world to prosper and countries to realize their goals. It's all a bunch of lies. They're a business.

What would people say if you were going from one poor neighbor to another, picking people in trouble like addicts, people with ongoing court cases and such and offering them loans with extreme conditions like you'd take a room in their apartment and use it for whatever you like if they won't be able to pay in time. People will say that you're abusing them. That you're just a leech and a crook.

When they're doing it to whole countries it's somehow a different thing.

hero member
Activity: 2436
Merit: 877
February 28, 2023, 11:57:11 AM
#26
The rejection of Bitcoin by the IMF does not have a direct consequence for Bitcoin users, but it may make it harder for Bitcoin to be accepted in international financial systems. This could limit the use of Bitcoin and have negative consequences, such as other countries banning or regulating Bitcoin.
Unless IMF starts some sort of "sanction" on countries that have adopted bitcoin (stuff like rejecting loans and putting pressure on them like that), I don't see how publishing an "opinion" about bitcoin can have any kind of consequences in countries and their adoption of bitcoin.

Bitcoin will have no effect on adoption even if the IMF does not support it and has hinted to discourage the use of bitcoin globally.

However, there are countries whose economies depend on the loans given by IMF and I live in one such country. IMF will impose restrictions never to legalize bitcoin until our government pays off all the loans. It's difficult for an underdeveloped country to pay off all the loans and this means that our dream to legalize bitcoin in our country seems far away.  Sad
legendary
Activity: 3472
Merit: 10611
February 26, 2023, 11:38:14 PM
#25
The rejection of Bitcoin by the IMF does not have a direct consequence for Bitcoin users, but it may make it harder for Bitcoin to be accepted in international financial systems. This could limit the use of Bitcoin and have negative consequences, such as other countries banning or regulating Bitcoin.
Unless IMF starts some sort of "sanction" on countries that have adopted bitcoin (stuff like rejecting loans and putting pressure on them like that), I don't see how publishing an "opinion" about bitcoin can have any kind of consequences in countries and their adoption of bitcoin.
jr. member
Activity: 57
Merit: 1
February 26, 2023, 01:45:58 PM
#24
The IMF states that the success of a currency is based on factors such as its reliability, stability, liquidity, acceptability and usability. Bitcoin is not considered a reliable currency by the IMF because it does not fully meet these criteria.

The rejection of Bitcoin by the IMF does not have a direct consequence for Bitcoin users, but it may make it harder for Bitcoin to be accepted in international financial systems. This could limit the use of Bitcoin and have negative consequences, such as other countries banning or regulating Bitcoin.

Moreover, the IMF's stance does not mean that other countries may also refrain from adopting Bitcoin or turn to other cryptocurrencies. Therefore, the use and adoption of Bitcoin and other cryptocurrencies will move forward with ongoing discussion and regulatory initiatives, so in short, there is nothing to worry about yet.
sr. member
Activity: 1610
Merit: 406
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February 26, 2023, 09:12:52 AM
#23
I have seen on the news.  And I think you're wrong about the rejection from the IMF.  I have seen that what the IMF is doing is an option to reject the use of Bitcoin as a digital currency that can be used for trading transactions.
hero member
Activity: 1400
Merit: 674
February 26, 2023, 08:59:51 AM
#22
There's a term "smash head to kill easier" that's what motivates them FIAT elites, they didn't just once or twice disrupt bitcoin along the journey of growth in bitcoin.
We see that there are lots of alts motivated by bitcoin that show developments in the crypto world itself and many alts that they have destroyed in any way, but bitcoin is still standing, growing and becoming king in this world, that's what makes them feel hot and don't know what to do to tear down bitcoin apart from spreading FUD while on the market many people and even companies have ruled out FIAT.
legendary
Activity: 1498
Merit: 1116
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February 26, 2023, 08:40:23 AM
#21
Bitcoin rejection is not a new topic in bitcoins, I'd say we are (bitcoin and us) are already used to rejection, and  the IMF's opinion on bitcoins if valid has no influence on HODLers. When something new is rejected, we know it is usually due to two reasons. Either it is bad, or it is feared. In this situation we fully understand as the enlightened that bitcoin has been rejected because it is feared even by the IMF. Give these people some time and their opinions may likely change.
legendary
Activity: 2968
Merit: 3684
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February 26, 2023, 08:39:30 AM
#20
Already pointed out by the first response that it isn't BTC adoption, but the use of it as legal tender.

Also spoiler, this isn't a new stance. I believe it was as early as 2018 when Marshall Islands first wanted to do that (the trigger here I believe was that they wanted to abandon their existing currencies a la El Salvador in favour of Bitcoin).

So, no (new) news really.
sr. member
Activity: 826
Merit: 460
February 26, 2023, 08:31:27 AM
#19
The IMF just said it doesn't want any other country in the world to adopt Bitcoin. They're scared, and still, bitcoin does not care!

Nothing can stop the honey badger. What a hell? PaintingBitcoin

https://twitter.com/paintingbitcoin/status/1628856606816337922
They are afraid that their products will no longer sell well in the market with all the manipulation by FIAT. It is normal for financial regulators to feel threatened by a system that they have created until now and will be replaced, something like that is what they have to do to frighten other people.
On the other hand, this is indeed FUD, but if you look at it from another perspective, this is free bitcoin advertising without having to pay, all forms of FUD circulating in the community about bitcoin, more and more people will get to know bitcoin, even though at the first introduction they thought bitcoin was bad and not worth it. but the more bitcoin develops, the easier it will be for people to enter the market.
sr. member
Activity: 714
Merit: 253
February 26, 2023, 08:09:47 AM
#18
If I am not mistaken, they had never accepted bitcoin before or encouraged any country to accept bitcoin. With this announcement, it won't have any effect on bitcoin, which just shows that they are more and more afraid of bitcoin. They have no solution to stop bitcoin other than to advise countries not to accept bitcoin, but no one listens to what they say.
hero member
Activity: 2268
Merit: 588
You own the pen
February 26, 2023, 07:02:26 AM
#17
When a country's economy is about to fall, they won't go to listen to anybody anymore instead, they will do their own way to survive and if it means adopting bitcoins as their primary currency, they will going to do that without hesitation they won't going to listen to these people because they cannot resolve their problem anyway. We all know that they are big groups behind this decision and those hostile companies are really not slacking when it comes to working on blocking the success of bitcoins all around the world.
legendary
Activity: 3472
Merit: 10611
February 26, 2023, 07:00:17 AM
#16
Carstens says that the technology behind cryptocurrencies can also improve payments in general.
That is what they say before creating a new centralized shitcoin created and controlled by the government or the banksters and call that CBDC claiming it is solving all the problems because it is using the "technology behind bitcoin".
jr. member
Activity: 74
Merit: 1
February 26, 2023, 06:54:50 AM
#15
Every country have their own adoption ways
legendary
Activity: 3080
Merit: 1500
February 26, 2023, 03:08:43 AM
#14
That's fair from the perspective of IMF. They pretty much work as a bank for the nations. They pool billions of dollars in lower interest rates and lend that money to the countries at a higher interest rate and earn spreads. That's pretty much what they do! So they are acting like any other commercial banks when it comes to crypto currency. Majority of the commercial banks have a negative view of cryptos and IMF is no exception. That's fair from their part.

Does that mean crypto industry will slow down? Oh hell no! We are far more resilient now from any such comments from any big businesses or personalities. We just don't give a shit anymore!
member
Activity: 295
Merit: 28
Enterapp
February 25, 2023, 11:51:25 PM
#13
The IMF just said they don't want the whole world to adopt Bitcoin like the OP said, but something else got interesting when I logged on to their twitter page. After reading it can be said Cryptocurrencies are not a threat to the financial system, and could be part of a solution to increase cross-border payments, according to the head of research of the International Monetary Fund (IMF). Carstens says that the technology behind cryptocurrencies can also improve payments in general. See this link https://www.imf.org/en/Blogs/Articles/2023/02/23/technology-behind-crypto-can-also-improve-payments-providing-a-public-good.
legendary
Activity: 3472
Merit: 10611
February 25, 2023, 11:29:23 PM
#12
Apart from the fact that OP seems like advertising a twitter account, these things start from attacking ICOs and shitcoins and then could continue into attacking bitcoin itself. After all IMF is an American organization and obeys and fulfills US interests, one of which is preservation of United States Dollar and bitcoin is another serious threat to it's dominance.

So the real question is not about what IMF says but how much countries care about it (or forced to care about it)?
hero member
Activity: 1960
Merit: 537
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February 25, 2023, 11:08:31 PM
#11
The IMF just said it doesn't want any other country in the world to adopt Bitcoin. They're scared, and still, bitcoin does not care!
If they accept Bitcoin, it's good.

If they refuse to accept Bitcoin, it's not bad actually. Bitcoin is used widely around the world and with that global adoption, Bitcoin does not depend on a single organization like IMF now and will not depend on IMF in future.

A few years ago, big techs did not accept Bitcoin but now they accept it and soon we will see big banks accept Bitcoin. IMF will accept Bitcoin in future after massive acceptance from banks.

Exactly, Bitcoin is a decentralized currency, and it does not depend on any organization or government. In the past 14 years, the IMF has not once accepted bitcoin, and bitcoin is still alive and well. So in the future, their not accepting bitcoin is not a problem that we need to worry about.
Honestly, I would be happy if governments and banks accepted bitcoin, but if they don't accept it, it doesn't matter to me, I will still use bitcoin my way.
hero member
Activity: 1064
Merit: 843
February 25, 2023, 11:02:18 PM
#10
also IMF said banning PRIVATE cryptos should be an option.
this means something totally different than just banning cryptos
We need to say goodbye for Monero, Zcash, Dash etc where many centralized exchanges have start to delist privacy coins, if banning the whole privacy coins will happen, it's can be traded on decentralized exchange and any people who hold that's coins are somewhat like a criminal from their views.

If they refuse to accept Bitcoin, it's not bad actually. Bitcoin is used widely around the world and with that global adoption, Bitcoin does not depend on a single organization like IMF now and will not depend on IMF in future.
IMF is an international organization consist of 190 counties, so their decision is really huge to control the other countries. If IMF declare Bitcoin is illegal and must be banned, I would think the other countries which currently accept Bitcoin, will follow IMF's move.
hero member
Activity: 2156
Merit: 575
February 25, 2023, 10:39:56 PM
#9
https://www.imf.org/en/News/Articles/2023/02/23/pr2351-imf-executive-board-discusses-elements-of-effective-policies-for-crypto-assets

Definitely what they said at all. Read what Franky1 said, he knows what he is talking about, he is the first person here who knows what really happened. It is not about countries adopting, neither about rejection of bitcoin adoption or anything like that at all. This is just about the fact that there are risky assets in crypto which we all know, and most of us do not even invest, and it should not be done by big banks either, that's it. The misinformation going around on twitter is just too much, I can just tweet "IMF thinks bitcoin is the future and fiat will die" and you guys will believe that too? Look at the source, not the tweets.
legendary
Activity: 2044
Merit: 1018
Not your keys, not your coins!
February 25, 2023, 10:25:01 PM
#8
The IMF just said it doesn't want any other country in the world to adopt Bitcoin. They're scared, and still, bitcoin does not care!
If they accept Bitcoin, it's good.

If they refuse to accept Bitcoin, it's not bad actually. Bitcoin is used widely around the world and with that global adoption, Bitcoin does not depend on a single organization like IMF now and will not depend on IMF in future.

A few years ago, big techs did not accept Bitcoin but now they accept it and soon we will see big banks accept Bitcoin. IMF will accept Bitcoin in future after massive acceptance from banks.
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