Topic: Possibility of bitcoin adoption by countries when world fin. giants does. (Read 339 times)

This could really be a good idea, but in the aspect of those financial bodies giving out monetary aid using Bitcoin to other countries, I don't see that as a wise decision based on Bitcoin's nature. Don't forget that the loan that this huge financial body gives out to countries always comes with interest, and when given out a loan on BTC, will you suggest that it should be calculated by the value of BTC as of that time or figure of BTC, because whatever means that's being used, there's going to be some kind of either overvaluation or value reduction? Considering how long countries loans usually take before the repayment period
 
Let's say, for instance, they loan out 100 BTC at the price of $30,000 per 1 BTC, which will be worth about $3,000,000 there plus interest rate, and the loan duration can be about 3 years, which is enough time for Bitcoin to either double in price or go down sideways in price. Whichever it is, it will happen that either part will be at an advantage and the other at a disadvantage, which I don't see as a good option for business.
 
There are better ways that those huge financial bodies can use to promote Bitcoin and increase its adoption aside from the loan part; maybe they can also consider it a means of reserve.

What if the reverse of your opinion becomes the reality and it happens that they agree to use bitcoin as a reserve for savings and they make loan inclusive. Would it not be good for all parties involved?  We know IMF and world bank has a strong affiliation with the US government and through them and member states are financed

The World Bank and the International Monetary Fund will never adopt Bitcoin(or any other cryptocurrency). Period!
I can see the IMF and the World Bank adopting CBDCs, but Bitcoin will never be even close to getting adopted by such global financial organizations. IMF and the World Bank are puppets of the USA and the US financial oligarchy. I think that those organizations are more or less useless. They don't help the underdeveloped countries in any way(giving loans isn't real help). Those organizations are designed to keep the underdeveloped countries dependent from the USA.

"They don't help the underdeveloped countries in any way(giving loans isn't real help). Those organizations are designed to keep the underdeveloped countries dependent from the USA."

There are better ways that those huge financial bodies can use to promote Bitcoin and increase its adoption aside from the loan part; maybe they can also consider it a means of reserve.

When nations go to them for financial aid and they tell them that they can give them bitcoin as loan, this would make the nations reconsider their stand in adopting bitcoin as a means of exchange for goods and services. As financial bodies they are, they have strong influence since they set out international monetary policies which these nations look up to for adoption and  implementation in their various nations.

There is one in million chance of centralised entities accepting crypto in its decentralised state.

I don't think institutions like IMF or US government will ever accept decentralised bitcoin since that is something not under there control. My country (Pakistan) recently got a bail out package from IMF and it was approved after strict terms and conditions, one condition was to increase tax net. With decentralised Bitcoin its difficult for government to gather tax, so the possibility of adoption goes down.

Hmm, Was totally unaware of how the member countries work haha, IMF adopting bitcoins seems like one of the biggest jokes to me for this month because I can recall in memory that IMF was putting pressure on the financial policies of those countries who were under debt of IMF to strongly Ban crypto market activities. Buddy, it's not about the member countries who are going to be affected by Bitcoin it will be the IMF haha because when BTC will be the legal tender there will be no need for the IMF for further loans the countries can directly introduce and raise funds through the high APY surety bonds even they can use their BTC reserves for the loans that will be more easy a greater approach for them to raise as much funding as they can.

International monetary fund is not a money printing bank like central banks of nations and their balance and reserves comes from the contribution and payment of commitments from members countries and this reserve is what are used to loan member nations in time of financial trouble in the form of bailout,  to bring Bitcoin to the reality is going to be something that will meet a lot of criticism from members countries even though if IMF adopts Bitcoin as an organization,  those member countries who are against bitcoin adoption and legalization will do everything possible to only allow fiat paper money since that is what they can print freely and spend to pay membership dues.

And we can see that the IMF has putting pressures on El Salvador

And with that statement, I don't think that IMF will simply adopt and embrace bitcoin per se and makes it as legal means of exchange. Sorry to burst the bubble for the OP. Just think of bitcoin's volatility as one major drawback why countries are not willing to take the risk.

There is one in million chance of centralised entities accepting crypto in its decentralised state. I don't think institutions like IMF or US government will ever accept decentralised bitcoin since that is something not under there control. My country (Pakistan) recently got a bail out package from IMF and it was approved after strict terms and conditions, one condition was to increase tax net. With decentralised Bitcoin its difficult for government to gather tax, so the possibility of adoption goes down.

Op, you're right in your observation about the IMF pressure when a country wants to adopt Bitcoin, so if by some luck such organizations changed their position and became more open to Bitcoin not just as an investment, but also as a currency, it would have a big impact on adoption because that would greenlight it. It doesn't mean we'd see a sudden spike in adoption, but it could change the world over time.
But, like many others here, I'm doubtful that such organizations will embrace Bitcoin because it's not and can never be under their control.

What is the possibility of  massive adoption of bitcoin in the world i.e countries that has law prohibiting bitcoin as a legal means of exchange in their various nations if World Bank, International Monetary Fund, and other World Financial Organisations decides to take in or consider Bitcoin as a legal means of exchange and making loan option for nation to accept bitcoin from them as a loan and source of exchange or legal tender in their various nations. I had to look at this because since these world financial bodies are giants in the finance industry and nations go to them to seek financial aid which happens that they already adopted bitcoin as a means of legal tender and deemed it fit to be considered as digital money which it already is. When nations go to them for financial aid and they tell them that they can give them bitcoin as loan, this would make the nations reconsider their stand in adopting bitcoin as a means of exchange for goods and services. As financial bodies they are, they have strong influence since they set out international monetary policies which these nations look up to for adoption and  implementation in their various nations.

As a world financial organization they are, they can make it more attractive for other nations in the sense that they would raise policies that can be able to accommodate other nations that are yet to implement and adopt bitcoin in their various countries so as to make them reconsider their stringent rules against bitcoin existence in their countries.

I was just being curious about this if it would attract a massive turn up for bitcoin adoption in those nations that have passed law  against the existence of bitcoin in their countries since the world financial bodies are possibly bitcoin friendly organisations and would want them to take bitcoin as loan option.

I thought of sharing this here to  further broaden my understanding and also to know the opinion of other members too but if you feel it is not inline with the stand of this thread or the platform in general, you can call my attention so as to make the necessary corrections or take the necessary steps to effect the observed corrections. I also welcome constructive criticism and observations as I am open to learning to know more.