RE: My view and analysis of CURRENT CRYPTO MARKET situation - SHORT TERM expectations
hello, @crypto.piotr,
this is an interesting topic, I think that although "el salvador" managed to approve a regulation, the truth of the matter is that this country does not have the technological infrastructure to make BTC a legal tender, also international bodies do not approve this decision of "el salvador", I remember seeing in the media that a street food sale accepted BTC, my question when I saw this was how do they pay the network fees that are more than $ 20? I think this kind of actions only seeks to inflate prices and then leave thousands of investors without their money, I personally believe that if BTC fails to scale further in the digital economy (buying and selling products), other currencies will gain more and more ground and eventually, BTC will become a sentimental reserve currency, in other words only those who love the project will have BTC, they will under no circumstances sell their btc no matter if its value reaches zero.
Hi @trabajosdelsiglo
Infrastructure can be build, once there is some clarity in regulations. I would say that it's better to make a bitcoin a legal tender and then work on building infrastructure than doing it other way around (infrastructure first and then regulations).
Based on my understanding, they are using second layer to do that. Which makes transfers cheap and fast. Correct me if Im wrong.
Cheers, Piotr
hello @crypto.piotr,
As I understand it, in that country less than half of the population has access to a good Internet, on the other hand the purchase of equipment such as smartphones or computers is not something that the common citizen can afford, from my point of view if a country wants to implement a serious regulation the first thing to do is to lower taxes on imports of technology, this will allow citizens to access technological resources that allow them to create the necessary infrastructure for the currencies to be implemented as legal tender, In short, if a country allows the free convertibility of currencies into fiat money, without first massifying access to the technology, it will only serve to allow the mafias present in the country to launder money without any control, I imagine that this is the fear of the big central banks that are not willing to accept this decision of the "saviour".
I hope my answer makes sense, best regards
hi @trabajosdelsiglo
I appreciate your comment. However, perhaps you could consider using some "enters" to separate different parts of this message. Reading such a long block of text is just ... not easy. Especially since you didn't even use "." and it's all like one super long sentence.
thanks for the suggestion my friend, I wanted to transmit a lot but I think I still don't have that level with English.