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    Author Topic: Governments are intensifying their focus towards bitcoin adoption  (Read 595 times)
    Olatundespo
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    September 11, 2025, 10:11:59 AM
     #41

    It doesn't need to be approved as a legal tender, as long as it's legal for both personal and commercial use, it's as good as it can be. People can buy, store, and use Bitcoin for whatever they want, and vendors can accept Bitcoin payments if they want to, and that's what that matters, doesn't it?

    That's right, it's not necessary. The legal framework that exists in most developed countries is sufficient. Making it legal tender would mean forcing all businesses to accept it, which is not going to happen. In addition, its use as a currency will continue to be limited, as bitcoin becomes more and more established as the best store of value.
    Yeah as long as there's no restriction to use bitcoin as currency it's already great.
    But if there were countries that willing to approve bitcoin as a legal tender it's definitely something that's welcomed by many.

    It means it can be used for paying tax, and many more. Just simplify things on another level.

    And at the same time, they could create a new tax and take even more money from their citizens. If it’s a country with a high standard of living -fine, let it be that way. But in countries where people are already barely surviving due to a low quality of life, imposing additional taxes on them is nothing more than the government robbing its own population.

    In those countries, since the amount of resources is limited the government of that country also imposes taxes on low income people. Due to the narrowing of the sources of income the government meets its expenses by imposing taxes on the sources of income of the poor and middle class people. You consider this strategy of imposing taxes as plunder I partially agree with you. The government of these poor countries needs a lot of money for the development of the country, and since the sources of those money are limited the government considers the people as a significant source of their income. In addition governments have very limited alternative income opportunities.

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