Topic: POLYGON as a national currency. - page 5. (Read 733 times)
Polygon ( MATIC ) is really a good types of currency and very easy to use with low transaction fees wheb ETH gas fee so high and BTC transaction fee is little high and finally if compare with BNB / BSC it’s low but polygon MATIC fees are very low and very faster transaction possible within a minutes but don,t say polygon is national currency because still now no announced any countries government and any billionaire.
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
I know many users will disagree and will say that Bitcoin fits better but I think it's not also wrong to choose other crypto other than Bitcoin. Bitcoin's supply is limited so if many countries will make it as their default currency, I think that is going to be a huge problem but I heard that there are now tool which can extend the Bitcoins supply. Other than supply, there is also high volatility rate.This is where alternative cryptos can shine. In terms of difficulty level, I think Bitcoin is the most user-friendly among all cryptos. People can still use Matic the normal way like a BTC for sending and receiving money. There is no need to complicate things or go beyond than that, if they are lacking in knowledge.
And about the tool you mention which supposedly can extend the supply of bitcoin I will say this is not possible, anyone can change the code and increase the number of coins that could exist, but no one is ever going to accept that change, which is the only way the limit on the amount of bitcoins could be changed as far as I know.
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
I know many users will disagree and will say that Bitcoin fits better but I think it's not also wrong to choose other crypto other than Bitcoin. Bitcoin's supply is limited so if many countries will make it as their default currency, I think that is going to be a huge problem but I heard that there are now tool which can extend the Bitcoins supply. Other than supply, there is also high volatility rate.This is where alternative cryptos can shine. In terms of difficulty level, I think Bitcoin is the most user-friendly among all cryptos. People can still use Matic the normal way like a BTC for sending and receiving money. There is no need to complicate things or go beyond than that, if they are lacking in knowledge.
Many people opinion is bitcoin to became their own country currency,because they are the early adopters of the bitcoin.Most of the people wish the bitcoin to became the world currency like the USD.The world economy will not run without the US dollars,because the USD was the mode of payment to import anything from the United States.So we should have the dollars as our Reserve in their country.Nearly seventy percentage of most of the country population holding the bitcoin as their assets and investments.So as compared to the polygon,Bitcoin and Ethereum had huge opportunities.
In my opinion related this, One of the most important factors is ensuring the country's infrastructure is capable of supporting cryptocurrency use, including factors such as internet access and digital literacy. While POLYGON's user-friendly interface can certainly make it a good choice for countries with low levels of education, there are other factors to consider as well. For example, governments need to ensure that the infrastructure is in place to support the use of cryptocurrencies, including access to the internet and digital devices. They also need to consider how to ensure that cryptocurrencies are used safely and securely, and how to protect against fraud or other criminal activity.
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
Do you have a source that states that any country is thinking about doing something like this and adopting polygon? Because if you do not then there is not too much of a point on having this discussion, because the only coin that we know it has been adopted by two countries so far is bitcoin and only bitcoin.As far as I know there is no country that is considering to adopt an altcoin as a legal tender, something that should not be too surprising as the volatility of those coins is too high and they are nowhere near as solid as bitcoin.
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
Maybe the leader must teach the people to learn basic crypto first before implementing any idea. That technology is not easy to teach to new people who don't know how to use digital payments. In my country, many people can use only fiat money offline. when the government asks them to be cashless, they can't, which I think whatever platform such as Polygon, If the people don't know how to use basic payment online, I am pessimistic that it will happen success.
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
POLYGON is the layer 2 solution to Ethereum high fees problem that may fail to be an attractive currency if many variables occur, such as:- POLYGON fees go up
- Ethereum failure or any problems happen with Ethereum will effect it because it is built on top of it.
- High fees are no longer a problem for Ethereum.
- New coin appears with cheaper fees and more efficient.
With all that I mentioned, can this currency be a national currency that millions of people rely on and whose lives are affected by it? of course not.
It will never come true. The country has it all national currency. So many regulators are also seeing crypto as a thing that is always being related with the bad thing. It's impossible for crypto to be national currency. your opinion doesn't make sense.
You can imagine if you were regularly using crypto for your daily transaction and store your asset but your crypto goes to zero and what's gonna happen with your country? it will be dead.
You can imagine if you were regularly using crypto for your daily transaction and store your asset but your crypto goes to zero and what's gonna happen with your country? it will be dead.
It's gonna be good if a country starts spending money from taxes through these blockchain so that it could be recorded in the ledger and also transparent but as many have said using it for national currency seems unwise decision after all the ecosystem of polygon i think is still pretty much premature.
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
It could be an alternative way of payment and that's possible. The adoption of MATIC by a government or a country leader could offer several benefits, such as faster and cheaper transactions, increased transparency, and improved security. MATIC's scalability and interoperability features could make it an attractive option for governments that looking to improve their existing payment and transaction systems which top cryptocurrencies don't have.
However, speaking of low-level education, this is another story to discuss than the adoption.
The adoption of Polygon as a means of payment or transactions in a country with a low level of education would surely require such education and regulation for sure.
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
there's no steps required I guess just declare legally that the polygon has become country's way of dealing with transaction aside fiat but i think as many have said it's gonna be bad idea, since a country need to take control of its own economy. 
sounds like ridiculous idea, after all i still doubtful in regard of the scalability of these platform, imagine it's being used by people in a country in which definitely gonna be massive and eventually the gas fee increase to the point like ethereum you get the idea how messed up things will be.
and besides, do you really think a government will permit the existence of a cryptocurrency to be their national currency? what will happen to their own currency then?
and that's right, they need to look at the future scenario if in case they will deploy crypto in their financial system. having high demand means fees may increase just like the eth network. there will be a mess as the govt will receive a lot of complaints here and there. that would be a fiasco.
sounds like ridiculous idea, after all i still doubtful in regard of the scalability of these platform, imagine it's being used by people in a country in which definitely gonna be massive and eventually the gas fee increase to the point like ethereum you get the idea how messed up things will be.
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
I mean any country can make any currency tueir local currency. Why wouldn't they start with bitcoin? Since it sits on its own blockchain and more of a proven currency why wouldn't they look there first? I'm pro polygon but that is a step way too far away right now.
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
Creating a law declaring this as their national currency will not be easy, though I expect many countries to make Bitcoin as a legal tender as some countries are already have this law. This could be the future adoption. I just don’t see altcoins to be on this spot but who knows, we might see a good future for crypto adoption as well. Anyway, didn’t see any big updates from MATIC though, there’s a big competition in this market and if they stop updating, then it will be hard for them to stay on the top position, they should remain active. What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
Fiat will stay and crypto will never be a national currency, I’m sure many politicians will also against this one because its too transparent and they don’t want it. Polygon is a good coin but I don’t think a country will never make a move like this, there’s no need for this though. If you believe MATIC will be a good crypto, then better to hold more and know when to take profit, this platform will grow more for sure. 
What steps can a country leader takes before adopting POLYGON as a means of payment or transactions in a country with low level of education. As it's known to be one of the best user friendly platform for easy transactions.
Why an earth would anyone in charge want to adopt that? And wouldn't the adoption happen because people are already using it. So if people choose to use Polygon, it has more changes to be accepted by companies. Country leaders are the last ones in the line to adopt something.And right now the payment and custodial system is too complicated and has too many risks that anyone in charge would want to push to people. Permissionless and immutable transactions are not something countries would benefit from if they want to stay in control.
We in our country didn't have any laws created for us to accept and use BTC, I think it also applies to Matic if this is really what the people wants to do.
So its not for the government to decide which token but they will likely want stablecoin than using a centralised crypto. Matic seem not really fit for it. It only make the country financially vulnerable.
We in our country didn't have any laws created for us to accept and use BTC, I think it also applies to Matic if this is really what the people wants to do.
So its not for the government to decide which token but they will likely want stablecoin than using a centralised crypto. Matic seem not really fit for it. It only make the country financially vulnerable.
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