Next Country to accept bitcoins is legal tender?

Renampun

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Quote from: DOH! on September 13, 2021, 01:54:43 PM

Previously, I was skeptical about progress on the possibility of opening legislation regarding legal tender for bitcoin from Paraquay, but it seems they have been behind Ukraine as they have become the 2nd country to do so get it after El Salvado. Many of the countries on this list are leaving the possibility of legal tender for bitcoin in the near future if the negotiation process can come to a final decision.

I think next will still be Paraquay
...

the issue of Paraguay will make bitcoin as a legal tender very strong in recent days...

as you said that it is not easy to make bitcoin a legal tender, there are many considerations and also voices in the government that must be involved. I still predict that before this year is over there will be other countries that make bitcoin a legal tender following in El Salvador's footsteps.

DOH!

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Quote from: Tumanggor on September 13, 2021, 10:32:08 AM

btw, countries in Latin America seem very interested in making bitcoin a legal tender
very sure with Paraguay or Venezuela to be the next country to make bitcoin a legal tender

Previously, I was skeptical about progress on the possibility of opening legislation regarding legal tender for bitcoin from Paraquay, but it seems they have been behind Ukraine as they have become the 2nd country to do so get it after El Salvado. Many of the countries on this list are leaving the possibility of legal tender for bitcoin in the near future if the negotiation process can come to a final decision.

I think next will still be Paraquay

https://www.cityam.com/more-countries-line-up-to-make-bitcoin-legal-tender-which-one-will-be-next/

haasanjui

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Ukraine country has accepted bitcoin legally. You can buy or sell cryptocurrency in BUYbank of Ukraine you can withdraw it online through bank card. It is great success of Bitcoin.

uttoransen

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This is very hard to predict - but for one, we know that adopting anything early has its advantages. If a country adopts BitCoin as a legal tender now, they will probably be the very few countries to do so - and the amount of crypto currency that will enter that country will be huge. Chances are that in the near future, they will be the holder of most bitcoins. If more countries start to adopt BTC as a legal tender - soon the early adopters will become rich.

Think on it - if you ban Gold today, your country will become poor and you will do a lot of dis-service to your country. If, let's say - India, bans bitcoin today - it is likely that India will be at a loss if BitCoin becomes a legal tender in many countries tomorrow.

Am sure many smaller countries with weaker economies will start to adopt crypto currencies soon and by doing so they will become a strong economy in the future.

Artemis3

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If El Salvador serves as example, the most likely candidate is a country without its own national currency. A politician could genuinely claim to desire independence from the United States Federal Reserve (The case for El Salvador, where the other legal tender is the USD). Of course, Bitcoin also gives individuals independence from their OWN State, but this is generally not a problem when there is no national currency to begin with.

Or, its a place where The State hasn't that much power and its people can actually push them to adopt the new global currency.

No more exchanges or outrageous remittance fees. Where does this wealth goes now? You guess it. Adoption makes sense from an economic point of view, it will occur anyway, but those who act first, will obtain more benefits sooner.

Forget Venezuela, we (the people) can adopt it but the State never will, at least not with the current people in power. They are too happy slashing zeroes from banknotes, to them overspending works fine, "capitalism is a lie", and they can print as much as they want because nothing happens...

Tumanggor

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Quote from: yhiaali3 on September 12, 2021, 11:34:49 PM

Nobody knows exactly. It might be Paraguay, Venezuela, Anguilla or Panama. There is a CoinMarketCap vote where the following countries get Votes:
Paraguay 215,183 votes
Venezuela 162,642 votes
Anguilla 94,840 votes
Panama 42,350 votes

https://coinmarketcap.com/legal-tender-countries/

Of course, these are all predictions and do not necessarily reflect the truth. They only express the opinions of the participants who have voted, but the real results will appear in the near future on the ground.

I took part in that vote too
although there has been no official notification made by the government of that country

btw, countries in Latin America seem very interested in making bitcoin a legal tender
very sure with Paraguay or Venezuela to be the next country to make bitcoin a legal tender

yhiaali3

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Nobody knows exactly. It might be Paraguay, Venezuela, Anguilla or Panama. There is a CoinMarketCap vote where the following countries get Votes:
Paraguay 215,183 votes
Venezuela 162,642 votes
Anguilla 94,840 votes
Panama 42,350 votes

https://coinmarketcap.com/legal-tender-countries/

Of course, these are all predictions and do not necessarily reflect the truth. They only express the opinions of the participants who have voted, but the real results will appear in the near future on the ground.

TimeTeller

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Quote from: Slow death on September 12, 2021, 05:46:54 PM

Quote from: 2girls1facemask on September 06, 2021, 11:36:38 PM

Next Country to accept bitcoins is legal tender will be BLANK? Serbia.

and why did you conclude that the next country to legalize bitcoin would be the Serbia? Serbia is a country in europe and we all know that europe has very complicated laws and rules, i doubt that Serbia does the same thing that el salvador did. things that el salvador did Is something we won't see another country do anytime soon

Quote from: ?? on ??

I think that in the forefront there will be those countries whose economies require changes. Only after that, and perhaps not soon, the more developed countries will think about it.

I agree, first world countries are still at the permit stage without making bitcoin laws, they are observing

I have the hunch that possible country/ies that may follow El Salvador's path is/are those neighboring countries of El Salvador.
If they see the positive impact on their market, they may ask assistance from El Salvador.
We will see the short term impact maybe after 6 months or so, because right now, its people are still in the stage of installing the app and trying it out using the free $30 sign up bonus.
Now, after those free coins are all consumed, we will see if the citizens will continue to use the app with their everyday activities.
A lot of known food chains in their country are now accepting bitcoin as payment, so we will hear also the feedback from those shop owners if it is indeed good also for their business.

Slow death

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Quote from: 2girls1facemask on September 06, 2021, 11:36:38 PM

Next Country to accept bitcoins is legal tender will be BLANK? Serbia.

and why did you conclude that the next country to legalize bitcoin would be the Serbia? Serbia is a country in europe and we all know that europe has very complicated laws and rules, i doubt that Serbia does the same thing that el salvador did. things that el salvador did Is something we won't see another country do anytime soon

Quote from: ?? on ??

I think that in the forefront there will be those countries whose economies require changes. Only after that, and perhaps not soon, the more developed countries will think about it.

I agree, first world countries are still at the permit stage without making bitcoin laws, they are observing

SirLancelot

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Quote from: 2girls1facemask on September 06, 2021, 11:36:38 PM

Next Country to accept bitcoins is legal tender will be BLANK? Serbia.

Cryptocurrency and the blockchain industry has been one of the biggest trends as of lately. I don’t know which country is going to make it a legal tender next, but I am hoping to see one of the developing countries accept it as a legal tender. I believe that any developing country that accepts cryptocurrency we see major growth in the years to come.

Because the area of blockchain and cryptocurrency has been growing so well, if you look at platforms like LinkedIn, you will see that most companies are looking for experts in the areas of blockchain and cryptocurrency. And companies like this that are focused on cryptocurrency would like to have an office in a country where it is legal for them to operate freely.

iTradeChips

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My initial research did not put any particular country as the next country where Bitcoin will be declared a legal tender. Which I think it only means that there might be no plans for any country as of the moment to make any policy changes and declare Bitcoin as some sort of legal tender. It will be difficult for a country to adopt Bitcoin that easy without any objections from that country's banking sector and financial sectors. But if I am really going to answer the question. Then it is likely that the next country where it will be declared a legal tender might be another small country with very less financial resources.

mich

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I think the next country to except bitcoin as legal tender will be Argentina.

Argentina has a long history of massive inflation and as a result the devaluation of their peso.

Argentinians deserve to have a legal tender that will be protected against inflation.

Kong Hey Pakboy

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Quote from: adeyemirichard71 on September 08, 2021, 01:12:26 PM

Actually I'm also hearing that Paraguayan companies were now embracing cryptocurrencies, Entrepreneurs and investors looking at Paraguay for the first time.
As well as introducing measures to make Paraguay a hub for foreign crypto investors, the draft legislation this is really a good news to the country.

But that doesn't mean that the Paraguayan government is going to be embracing crypto. But I do heard of some talk that they will soon follow what El Salvador.

Sithara007

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Quote from: adeyemirichard71 on September 08, 2021, 01:12:26 PM

Actually I'm also hearing that Paraguayan companies were now embracing cryptocurrencies, Entrepreneurs and investors looking at Paraguay for the first time.
As well as introducing measures to make Paraguay a hub for foreign crypto investors, the draft legislation this is really a good news to the country.

There was a lot of hype regarding one of the crypto bills in Paraguay. But after the bill was introduced in the parliament, many of the experts claimed that it was disappointing for the cryptocurrency industry. My next hope is on Panama. There is a good chance that they will make Bitcoin as legal tender sometime soon. But I expect a more cautious approach from the other countries. In El Salvador, the implementation was done in a matter of 1-2 months, and there was not enough time for the industry to make the necessary arrangements.

jakdanyel

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I think that the next country to make Bitcoin legal tender is Cuba. I have already seen some news about it that Cuba is preparing to accept payments with Bitcoin. Maybe after some time passes, they can also make such move like El Salvador did recently. And many Latin American countries seem like they can really do this one by one. Especially these countries are very interested in this and following El Salvador's process closely.

adeyemirichard71

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Actually I'm also hearing that Paraguayan companies were now embracing cryptocurrencies, Entrepreneurs and investors looking at Paraguay for the first time.
As well as introducing measures to make Paraguay a hub for foreign crypto investors, the draft legislation this is really a good news to the country.

isaac_clarke22

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Well there is no indication that what country will be the next actually, OP. It will be like it got reported before you can even know it.

As for Serbia possibly legalizing Bitcoin, there are still no news yet nor proposal so far.
This is what I got so far: https://www.globallegalinsights.com/practice-areas/blockchain-laws-and-regulations/serbia

If you read it, there were proposals for now.

bryant.coleman

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Quote from: BOAEDAN on September 08, 2021, 10:20:05 AM

I've read some media, which says there are several countries that want to legalize bitcoin, including small countries, such as Central America, while developed countries like Europe have no plans to legalize bitcoin, only small countries want to legalize bitcoin, but it's just a draft, so if for now there is no country that has followed the steps of el salvador..

Form the mainstream media, I have heard rumors about the following countries (listed in the order of most probable to the least probable):

1. Panama
2. Malta
3. Paraguay
4. Venezuela
5. Nicaragua
6. Argentina
7. Brazil
8. Cyprus
9. Mexico

For Panama, check this article:
https://finance.yahoo.com/news/panama-touts-bitcoin-ethereum-crypto-132554068.html

Unfortunately, almost all of these countries are located in Latin America (with the exception of Malta and Cyprus). Asian nations remain hostile to Bitcoin (including the two most populous ones - India and China), and although larger EU nations such as Germany and France are more pro-Bitcoin, gaining status as legal tender is a long way off.

BOAEDAN

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I've read some media, which says there are several countries that want to legalize bitcoin, including small countries, such as Central America, while developed countries like Europe have no plans to legalize bitcoin, only small countries want to legalize bitcoin, but it's just a draft, so if for now there is no country that has followed the steps of el salvador..

ChiBitCTy

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I am not sure whom the next country will be to start accepting bitcoin as legal tender but whomever it is will be a trend setter just like El Salvador and it will only even more so legitimatize bitcoin and cryptocurrency as a whole. I can't wait to start to see the dominos fall of countries starting to use bitcoin as legal tender. I think it's only a matter of time before others fall on board.

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