will Paraguay be the next to make Bitcoin ‘official currency’ - page 2.

herurist

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Quote from: flyer88 on September 19, 2021, 04:36:26 PM

what has been done by the country of El Salvador by adopting bitcoin as a legal transaction tool in their country is a revival for bitcoin, this time it's the turn of the country of Paraguay who wants to follow in the footsteps of the country of El Salvador to adopt bitcoin nationally in countries located on the Latin American continent If this is really realized.it is not impossible that bitcoin will return to the way it was before, because at this time bitcoin really needs recognition from sovereign countries for the process of bitcoin's survival in the future

el salvador is indeed starting to improve for their future and it can be said that they are one step ahead with the actions they dare to take.
but of course the adoption of bitcoin is not an easy thing to do, especially for one country because they really need to think carefully in making decisions because this is related to state assets and the existing economy.
and of course there must be pros and cons just like the beginning of elsavador adopting bitcoin.
it's good enough if there are more countries adopting bitcoin but indeed until now there is still no sign of other countries following besides Paraguay's incessant.

Fesatmas

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Official currency? is it the only one as a means of payment later for the country of Paraguay? I would prefer if they just legalized Bitcoin without having to set aside the initial legal payment money. However, this will not be fully supported, we see there is always an opposition and to stabilize the economy in Paraguay, the government thinks twice about making Bitcoin the only legal tender. Look at El Salvador, they also don't make Bitcoin the only one. This of course can create stability. Even there, even though there are two payment alternatives, there are still pros and cons, let alone one payment instrument. Bitcoin is quite adopted as a second alternative. So that people have the freedom to use it.

Artemis3

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Well i hope they do, if they want to bring even more investors beyond mining, which is a good idea for the long term as mining won't be profitable forever.

They have their own fiat coin, they can have both as legal tender during the transition, until people stops bothering with fiat on their own.

If they do it, they will seize an opportunity that isn't coming back again. So they could have in South America a big advantage, simply by adopting first. But time is of the essence, all we wonder now is which country will be the second, then the third, fourth...

The first ones get more wealth early. The world market isn't going to wait for the politicians.

mrongoz_imut

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Paraguay is said to want to become a crypto center in the Latin American region. They also want to be a model for other countries in terms of legalizing crypto money as a means of payment.Rejala revealed his plan after Bitcoin was used as a transaction tool in his country. He said that he would work to encourage other countries to make Bitcoin a legal transaction tool. If Paraguay succeeds in doing that, I think it will be great for bitcoin, and all other cryptocurrencies..

Dhoe

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el salvador has opened the eyes of other countries to be able to see more clearly the advantages of adopting bitcoin, and legalizing bitcoin, it may not be easy for countries to legalize bitcoin, let alone make bitcoin a currency, but if el salvador is able to make their economy thrive by legalizing bitcoin, I am very sure not Paraguay, other countries will follow El Salvador's steps.

firesurfer

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Quote from: cryptomaniac_xxx on September 19, 2021, 12:45:31 PM

Quote from: firesurfer on September 19, 2021, 04:23:28 AM

If that is true, we will have a third country that accepts Bitcoin as official payment. This is great, hope they have a better way than El Salvador to pass and educate people to use. As far as I can see, their passing of the Bitcoin legal tender law happened quickly and left consequences such as the smashing of Bitcoin ATMs and a small wave of protests among the people.

But you have to understand those protesters and who set fire some bitcoin ATM? what are their intentions? who are the people behind? are this protestors part of a group of people being finance by some entities to disrupt El Salvador's road to BTC?

If Paraguay official become the next country after El Salvador, for sure they have learn some lessons already, like local wallets going down and crashing, Paraguay could mitigate it. So this is welcoming news and hopefully it will happen within the year.

If only you would answer the questions you have asked yourself so that I and everyone here can understand the problem.
I mentioned Bitcoin education before the official launch of Bitcoin recognition in this country.
There are spoilers everywhere in the world, and they have their own reasons. We can never anticipate every problem. But experience is a valuable thing that Paraguay they asked from El Salvador about the Bitcoin path they took.

velosepur

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On Jun 7, Rejala outlined his vision for Bitcoin use in Paraguay, saying he was working with “the Paraguayan crypto community in order for Paraguay to become a hub for the crypto investors of the world and subsequently to be placed among the ones on the cutting edge of digital technology”. In next months we will have clearer situation probably.

terrorJR

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Quote from: Viscore on September 19, 2021, 06:43:51 PM

Quote from: flyer88 on September 19, 2021, 04:36:26 PM

what has been done by the country of El Salvador by adopting bitcoin as a legal transaction tool in their country is a revival for bitcoin, this time it's the turn of the country of Paraguay who wants to follow in the footsteps of the country of El Salvador to adopt bitcoin nationally in countries located on the Latin American continent If this is really realized.it is not impossible that bitcoin will return to the way it was before, because at this time bitcoin really needs recognition from sovereign countries for the process of bitcoin's survival in the future

Bitcoin is making huge developments this time making it as a legal tender in El Salvador. And here's Paraguay which will be the second nation to prose bill making bitcoin as a legal tender. Carlitos Rejala, a big supporter of bitcoin, said that the bill will help position the country to trail the path of growth for the next generation. And since Paraguay has a lot of cheap renewable energy so there is no doubt that it can really become a crypto hub.

With the positive treatments that bitcoin has been receiving now, it will create more possibilities that more countries are going to take advantage of it as a currency, more than just as an investment.

this will certainly be very good for the development of bitcoin but of course this kind of thing must have pros and cons that will occur in the adoption of bitcoin for both the government and the opposition which will greatly impact the people later.
because this is a very large one and needs to be carefully planned because it is indirectly related to state assets.
but it would be great if this could happen because more and more people will accept bitcoin and adopt it and what the Paraguayan government is doing is one of the right things and what they have to do is take the heart and trust of those who are against it. with this decision

btc_angela

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Most likely it will be the next to make Bitcoin legal tender. Countries in South and Latin American are leading the charge, so maybe after the Paraguay Congress approved it, then obviously it will be take effect and maybe they will also airdrop some $30 worth of bitcoin just like what El Salvador did to their citizens, to get "used" to it. Of course there will be problems initially like what El Salvador experience, but hopefully Paraguay would have anticipated and prevent such issues to arise. So maybe in the next 2 short years, mostly countries in that region are making Bitcoin as legal tender already.

Viscore

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Quote from: flyer88 on September 19, 2021, 04:36:26 PM

what has been done by the country of El Salvador by adopting bitcoin as a legal transaction tool in their country is a revival for bitcoin, this time it's the turn of the country of Paraguay who wants to follow in the footsteps of the country of El Salvador to adopt bitcoin nationally in countries located on the Latin American continent If this is really realized.it is not impossible that bitcoin will return to the way it was before, because at this time bitcoin really needs recognition from sovereign countries for the process of bitcoin's survival in the future

Bitcoin is making huge developments this time making it as a legal tender in El Salvador. And here's Paraguay which will be the second nation to prose bill making bitcoin as a legal tender. Carlitos Rejala, a big supporter of bitcoin, said that the bill will help position the country to trail the path of growth for the next generation. And since Paraguay has a lot of cheap renewable energy so there is no doubt that it can really become a crypto hub.

With the positive treatments that bitcoin has been receiving now, it will create more possibilities that more countries are going to take advantage of it as a currency, more than just as an investment.

Naficopa

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Quote from: Nathrixxx on September 19, 2021, 02:45:50 AM

Indications from different angles has been established toward having the second breaking of record in the adoption of Bitcoin as a legal tender by some countries in the likes of Paraguay ever since the first adoption by El-Savador, more effontery has been geard towards the move by responsible citizens while some even promise to legalize it if elected in their political post ambitions.

In Paraguay, all expectation is high toward the next step of government action in adopting Bitcoin as it's major currency, the question now is could Paraguay be the second to adopt Bitcoin as a legal tender? .... If yes, are there more visible indications to buttress the notion.

Quote from: https://ambcrypto.com/after-el-salvador-will-paraguay-be-the-next-to-make-bitcoin-official-currency/?utm_source=thecryptoapp

Paraguayan congressman had stated that he would be introducing legislation to legalize Bitcoin in his nation.

At the moment, several countries are already taking part in the race to see which of them will be the next in which cryptocurrencies will be legalized. It looks like there are already three of them.
You named Paraguay,
Ukraine: https://www.cnbc.com/2021/09/08/ukraine-legalizes-bitcoin-and-cryptocurrencies.html
Laos: https://bitcoinmagazine.com/culture/asian-nation-laos-to-legalize-bitcoin-mining-and-trading
This is really very important information for the entire crypto world. I think we can expect another bull run soon.

flyer88

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what has been done by the country of El Salvador by adopting bitcoin as a legal transaction tool in their country is a revival for bitcoin, this time it's the turn of the country of Paraguay who wants to follow in the footsteps of the country of El Salvador to adopt bitcoin nationally in countries located on the Latin American continent If this is really realized.it is not impossible that bitcoin will return to the way it was before, because at this time bitcoin really needs recognition from sovereign countries for the process of bitcoin's survival in the future

Baskeyairdrop

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Quote from: Tytanowy Janusz on September 19, 2021, 04:29:06 AM

Quote from: Nathrixxx on September 19, 2021, 02:45:50 AM

Indications from different angles has been established toward having the second breaking of record in the adoption of Bitcoin as a legal tender by some countries in the likes of Paraguay ever since the first adoption by El-Savador, more effontery has been geard towards the move by responsible citizens while some even promise to legalize it if elected in their political post ambitions.

In Paraguay, all expectation is high toward the next step of government action in adopting Bitcoin as it's major currency, the question now is could Paraguay be the second to adopt Bitcoin as a legal tender? .... If yes, are there more visible indications to buttress the notion.

Quote from: https://ambcrypto.com/after-el-salvador-will-paraguay-be-the-next-to-make-bitcoin-official-currency/?utm_source=thecryptoapp

Paraguayan congressman had stated that he would be introducing legislation to legalize Bitcoin in his nation.

"official currecy" - correct form is legal tender.

From the quote you put in OP we are talking about legalizing Bitcoin which is far different from making it legal tender but yes, It looks Paraguay is pro bitcoin and may be the next El Salvador. The thing is that El Salvador did not have its own currency before. They were using American Dollar and now Bitcoin and American Dollar. Paraguay have Paraguayan guaraní. So I'm interrested how they will play it out.

Edit:
Crypto community also agrees that Paraguay will be the next country to set BTC as legal tender.
https://coinmarketcap.com/legal-tender-countries/
A good step forward since Paraguay economy is 50% bigger than El Salvador

The world is changing rapidly and seeing that Paraguay is wanting to accept bitcoin as a legal tender means a lot. More countries would follow suit if they see that it turns out to improve their economy.

hichamito37

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Quote from: Nathrixxx on September 19, 2021, 02:45:50 AM

Indications from different angles has been established toward having the second breaking of record in the adoption of Bitcoin as a legal tender by some countries in the likes of Paraguay ever since the first adoption by El-Savador, more effontery has been geard towards the move by responsible citizens while some even promise to legalize it if elected in their political post ambitions.

In Paraguay, all expectation is high toward the next step of government action in adopting Bitcoin as it's major currency, the question now is could Paraguay be the second to adopt Bitcoin as a legal tender? .... If yes, are there more visible indications to buttress the notion.

Quote from: https://ambcrypto.com/after-el-salvador-will-paraguay-be-the-next-to-make-bitcoin-official-currency/?utm_source=thecryptoapp

Paraguayan congressman had stated that he would be introducing legislation to legalize Bitcoin in his nation.

El Salvador is a recent body of water that accepts bitcoin making payments in bitcoin and we see this as a step towards making bitcoin popular. and if Paraguay is the next country to accept bitcoin then this is good news for our bitcoin.

batang_bitcoin

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If they are already about talking about legislating bitcoin then there's already a chance that they're going to make it as a legal tender. But I do not want to expect a lot from it.
It can also be that they're supporting bitcoin but they don't have to declare it as a legal tender and that means, that all forms of transactions that will happen in bitcoin is totally legal and supported by Paraguay's government. Well, either of the two, they're both great if they pass that legislation favoring bitcoin.

Fortify

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Quote from: Nathrixxx on September 19, 2021, 02:45:50 AM

Indications from different angles has been established toward having the second breaking of record in the adoption of Bitcoin as a legal tender by some countries in the likes of Paraguay ever since the first adoption by El-Savador, more effontery has been geard towards the move by responsible citizens while some even promise to legalize it if elected in their political post ambitions.

In Paraguay, all expectation is high toward the next step of government action in adopting Bitcoin as it's major currency, the question now is could Paraguay be the second to adopt Bitcoin as a legal tender? .... If yes, are there more visible indications to buttress the notion.

Quote from: https://ambcrypto.com/after-el-salvador-will-paraguay-be-the-next-to-make-bitcoin-official-currency/?utm_source=thecryptoapp

Paraguayan congressman had stated that he would be introducing legislation to legalize Bitcoin in his nation.

I think Paraguay is much different than what we saw play out in El Salvador. We may never see another country ever adopt Bitcoin as an official currency because most advanced countries are now looking at building out their own blockchain with a local currency. El Salvador was in a different situation to Paraguay, because it was already using the US dollar as its currency which meant it had already given up all control from the central bank and was at the mercy of the US federal reserve. Paraguay still issues its own currency and it would be more damaging if they decided to accept two currencies. If the end goal is just to bring down fees involved with transferring money, then there are much easier ways for a government supported scheme to achieve it without full adoption.

cryptomaniac_xxx

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Quote from: firesurfer on September 19, 2021, 04:23:28 AM

If that is true, we will have a third country that accepts Bitcoin as official payment. This is great, hope they have a better way than El Salvador to pass and educate people to use. As far as I can see, their passing of the Bitcoin legal tender law happened quickly and left consequences such as the smashing of Bitcoin ATMs and a small wave of protests among the people.

But you have to understand those protesters and who set fire some bitcoin ATM? what are their intentions? who are the people behind? are this protestors part of a group of people being finance by some entities to disrupt El Salvador's road to BTC?

If Paraguay official become the next country after El Salvador, for sure they have learn some lessons already, like local wallets going down and crashing, Paraguay could mitigate it. So this is welcoming news and hopefully it will happen within the year.

herurist

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Until now, Paraguay is one of the countries that is most vocal in speaking and at the forefront of adopting. bitcoin but of course this is still confusing because until now there has been no official statement from the government of paraguay regarding this.
but if this really happens, I think they need to pay attention and improve the way and the system so that the case is not the same as elsavador where today there is still turmoil between the pros and cons.
but even if this is still not answered right or wrong at least this is pretty good news from bitcoin.

Cling18

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That will be an advantage not just for Bitcoin but also for Paraguay. Just like other countries, there will surely be people who would stand against it but since there's a huge population of Bitcoin users in the said country, I'm sure that this kind of adoption wouldn't be too impossible for them especially now that other countries are also starting to adopt Bitcoin.

Tumanggor

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Quote from: Nathrixxx on September 19, 2021, 02:45:50 AM

~

In Paraguay, all expectation is high toward the next step of government action in adopting Bitcoin as it's major currency, the question now is could Paraguay be the second to adopt Bitcoin as a legal tender? .... If yes, are there more visible indications to buttress the notion.

~

I don't really follow the political developments in Paraguay but I'm sure this issue wouldn't have spread if there wasn't any discourse going on there

El Salvador government's decision to recognize bitcoin as a legal tender has definitely made other countries shake and start paying great attention to bitcoin

I don't really like speculation, so what we should do now is wait patiently for official news from the Paraguayan government that they accept bitcoin as a legal tender, I am 100% sure that Paraguay will be the next country to recognize bitcoin as a legal tender

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