This is interesting, Liechtenstein has been Bitcoin friendly for a while now and this move
is just another step possibly to accepting Bitcoin as legal tender, who knows...
Its a very small country but they are very welcoming to Bitcoin.
Binance and Kraken exchanges are based there and some banks in Liechtenstein have
been offering crypto services for a few years and now the government are taking a
positive and direct approach.
Topic: Liechtenstein is considering to accept bitcoin for government payments - page 2. (Read 255 times)
May 09, 2023, 04:42:27 PM
May 09, 2023, 02:57:12 PM
Many governments don't say this publicly but I'm pretty sure they're hoarding bitcoin so they don't put themselves at a disadvantage to others, and Liechtenstein's stating this could drive others out, high FEE won't stop anything especially when movements million.
May 09, 2023, 02:04:20 PM
This is good news from Lichtenstein government to encourage the adoption of bitcoin. It is a big win for the bitcoin community as this will increase the rate of adoption of bitcoin and citizens will enjoy financial freedom and other attached benefits to using bitcoin.
It doesn't mean that bitcoin must be adopted as a legal tender before it can be used freely for payment by its users. As long as the government has accepted the adoption to use it as an alternative payment method,it is fine because there will be no restrictions on bitcoin. The government of Lichtenstein has seen that bitcoin is a store of value and can resist inflation and they know how bitcoin will help its citizens.
It doesn't mean that bitcoin must be adopted as a legal tender before it can be used freely for payment by its users. As long as the government has accepted the adoption to use it as an alternative payment method,it is fine because there will be no restrictions on bitcoin. The government of Lichtenstein has seen that bitcoin is a store of value and can resist inflation and they know how bitcoin will help its citizens.
May 09, 2023, 11:27:55 AM
It is always great news when bitcoin becomes the currency that governments from one country to another will adopt. It's clear to me that this will drive more power for a better future for bitcoin as an alternative currency should fiat stop helping society so much because of its banks and centralized systems. Bitcoin is worth considering, but really my concern may have been raised and might say tough if the dust attack continues to fill the mempool.
Do any of you think that dust attacks/ ordinals attack are a threat to slow bitcoin adoption growth?
Do any of you think that dust attacks/ ordinals attack are a threat to slow bitcoin adoption growth?
May 09, 2023, 10:57:54 AM
It's nice that Bitcoin is going through these phases. I don't know where this topic will lead in Liechtenstein, but it's good news that it's even discussed. It is too early for it to become a legal payment instrument. Of course, some states or institutions will switch to this payment method over time. What needs to be done now is to remove the obstacles in front of it. Everyone should be able to do whatever they want with bitcoin without encountering any obstacles. When this happens, the other things we've already talked about will gradually come true.
May 09, 2023, 10:29:07 AM
Nice to see if this proposal will come true, although this mean the Liechtenstein's citizens can pay directly the government service with Bitcoin, but it don't need to make Bitcoin to become a legal tender because there's will be a strict regulation they need to follow. Just don't ban Bitcoin and let the citizens know if they're not against of Bitcoin usage, it's enough,
Yeah, no big difference if they consider bitcoin as a legal tender rather than just make it as a means of payment. Making bitcoin a legal tender only confirms it's legitimacy so definitely a no big deal. Another win for crypto and this one is much more better since the government isn't losing anything here since they're going to quickly convert it to hard currency. May 09, 2023, 10:25:45 AM
This is really nice coming from the Liechtenstein’s government. They must have seen what is going on in El Salvador, and also their neighbouring country Switzerland. How the local town Lugano had adopted their own token LVGA as a legal tender in March 2022 and also the acceptance of Bitcoin and USDT as means of payment and so far the results have been encouraging. Even if the government do not get to make Bitcoin a legal tender but accepting bitcoin as a mean of payment would help businesses to thrive and create a lot of opportunities for the country.
May 09, 2023, 09:44:31 AM
Nice to see if this proposal will come true, although this mean the Liechtenstein's citizens can pay directly the government service with Bitcoin, but it don't need to make Bitcoin to become a legal tender because there's will be a strict regulation they need to follow. Just don't ban Bitcoin and let the citizens know if they're not against of Bitcoin usage, it's enough,
May 09, 2023, 09:33:06 AM
The bitcoin community in Europe is awed to hear the intention of the Liechtenstein local lawmakers about the integration of bitcoin for government payments. They intend to swap the bitcoin into Swiss franc immediately after it arrives in their wallet. According to Daniel Risch, the PM, and Finance Minister, he stated that the ruling body could allow its citizen to utilize bitcoin for government payments, but it's not sure if they'll take in bitcoin as legal tender, he didn't mention it.
Hence, regarding the network congestion happening recently, bitcoin communities lament that the Liechtenstein government has not experience network congestion, before the bitcoin gets converted into Swiss Franc it'll take time and they'll pay higher fees too. Hopefully, the whole dust transaction gets decongested before Switzerland concludes its decision of integrating bitcoin as a means of paying government fees. If these countries, adopt bitcoin payment it'll boost bitcoin, but if the mempool busy traffic continues it can demoralize them from taking this step.
https://cryptopotato.com/liechtenstein-could-embrace-bitcoin-as-a-payment-method-for-gvmt-services-says-pm/
Hence, regarding the network congestion happening recently, bitcoin communities lament that the Liechtenstein government has not experience network congestion, before the bitcoin gets converted into Swiss Franc it'll take time and they'll pay higher fees too. Hopefully, the whole dust transaction gets decongested before Switzerland concludes its decision of integrating bitcoin as a means of paying government fees. If these countries, adopt bitcoin payment it'll boost bitcoin, but if the mempool busy traffic continues it can demoralize them from taking this step.
https://cryptopotato.com/liechtenstein-could-embrace-bitcoin-as-a-payment-method-for-gvmt-services-says-pm/
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