I might not call it standard yet hehe as it is just one city putting some treasury funds in but definitely another one jumping onboard the crypto train 🚂.
What would your definition of a city adopting a bitcoin standard be? Cities aren't autonomous regions so they have limited scope to change things they can only adopt a treasury and allow local services and tax revenue in bitcoin
Legal tender laws would be a out of their remit especially in countries that aren't constitutional republics.
As for merchant adoption that can be a localised movement that people can do without government oversight it would just be a like cash transfers so merchants keep it off the books and avoid the income tax
The Tax rebate sounds like a great move to get people to buy into BTC. Tax amounts are still given in fiat right? So does this mean that the payment of BTC takes into the price of BTC when you make the payment or whenever the system processes it?
If Canada had a Bitcoin reserve my government would have sold it early just like our former gold reserve. We'd be in the bottom of the doge pile with El Salvador and Brazil on top.
I heard under JT Canada now has more debt than under all the prime ministers combined! I think they going to keep pushing it since nothing "bad" in the administration eyes has happened which is a shame because there are a few awesome Canadian companies like Ledn, bull bitcoin and blockstream all pushing bitcoin
Maybe it won’t be a government push but more a grass roots push as citizens find their CAD isn’t what it used to be and need something else
I always thought it would be one of the tech heavy Asian countries like South Korea to experiment with the new tech. It turns out to be the Latin America that is taking the charge. I am not familiar with the economic and social variables in that region that motivate these jurisdictions to look into new monetary system. Inflation could one of the reasons. It would be interesting to witness these changes and experience the dominos effect.
I haven't heard much from
AsIa as far as I can see most countries there have some sort of dictatorship going and the influence of China probably counts for a lot not that there isn't motivation for them to defect but I don't see a country that has yet come out and speak positively about it in the region.
Maybe a smaller country like Singapore or something will be the first that side since they are open to finance big time
I think Latin American countries have felt the pain of being marginalised by the US for so long and a history that there's no motivation to stay on the swift system
I'm not saying turning to bitcoin will save your country you can still fuck it up but at least they trying to do something
I hope my country also do so but they are not doing anything but we hear news of ban now and then but I don't think its gonna stop me from trading cause I can use decentralized exchanges
I hold no hope for my country adopting bitcoin and no one should wait for their country or city to make a move when you can make the move youself! Adopt your own bitcoin standard and enjoy the benefits
agree i make living by trading but if bank block account that have transfer from exchange my money will be gone cause we don't have btc atm or any thing
I might not call it standard yet hehe as it is just one city putting some treasury funds in but definitely another one jumping onboard the crypto train 🚂.
Cheers mate. Nice article
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What would your definition of a city adopting a bitcoin standard be? Cities aren't autonomous regions so they have limited scope to change things they can only adopt a treasury and allow local services and tax revenue in bitcoin
Legal tender laws would be a out of their remit especially in countries that aren't constitutional republics.
As for merchant adoption that can be a localised movement that people can do without government oversight it would just be a like cash transfers so merchants keep it off the books and avoid the income tax
The Tax rebate sounds like a great move to get people to buy into BTC. Tax amounts are still given in fiat right? So does this mean that the payment of BTC takes into the price of BTC when you make the payment or whenever the system processes it?
Posted Using LeoFinance Beta
As far as I understand it yes it's in their local currency you can just settle the amount in bitcoin to claim the discount
If Canada had a Bitcoin reserve my government would have sold it early just like our former gold reserve. We'd be in the bottom of the doge pile with El Salvador and Brazil on top.
Posted Using LeoFinance Beta
I heard under JT Canada now has more debt than under all the prime ministers combined! I think they going to keep pushing it since nothing "bad" in the administration eyes has happened which is a shame because there are a few awesome Canadian companies like Ledn, bull bitcoin and blockstream all pushing bitcoin
Maybe it won’t be a government push but more a grass roots push as citizens find their CAD isn’t what it used to be and need something else
I always thought it would be one of the tech heavy Asian countries like South Korea to experiment with the new tech. It turns out to be the Latin America that is taking the charge. I am not familiar with the economic and social variables in that region that motivate these jurisdictions to look into new monetary system. Inflation could one of the reasons. It would be interesting to witness these changes and experience the dominos effect.
I haven't heard much from
AsIa as far as I can see most countries there have some sort of dictatorship going and the influence of China probably counts for a lot not that there isn't motivation for them to defect but I don't see a country that has yet come out and speak positively about it in the region.
Maybe a smaller country like Singapore or something will be the first that side since they are open to finance big time
I think Latin American countries have felt the pain of being marginalised by the US for so long and a history that there's no motivation to stay on the swift system
I'm not saying turning to bitcoin will save your country you can still fuck it up but at least they trying to do something
I hope my country also do so but they are not doing anything but we hear news of ban now and then but I don't think its gonna stop me from trading cause I can use decentralized exchanges
I hold no hope for my country adopting bitcoin and no one should wait for their country or city to make a move when you can make the move youself! Adopt your own bitcoin standard and enjoy the benefits
agree i make living by trading but if bank block account that have transfer from exchange my money will be gone cause we don't have btc atm or any thing
Miami and New York have started minting their own cryptocurrency, do you think Rio De Janeiro may do the same?