El Salvador is the first country in the world to make Bitcoin legal tender and despite the huge steps the president is taking towards "Bitcoinizing the country", seems that there are still plenty of citizens who have no clue how to use it.
There are probably more maxis using Bitcoin over there than locals :D. Anyway, the idea is that, for us being involved in crypto all day everyday, it's quite at hand to transit entirely from the fiat based financial system to the crypto one, but what about the rest of the world.
I'm using crypto on a daily basis, not directly as in El Salvador, but through VISA cards that are using cryptocurrencies by converting them and actually settling my purchases with fiat, but I still use cash. Probably 30% of my monthly spending is done via cash.
There are imo close to 50% of my country's citizens that use more cash than they use debit cards. These ones are probably 99% into using cash and too little inclined towards paying with plastic. I believe rural areas are still rocking most of the businesses in cash. So far no actual sign of our leaders turning this country into a cashless one and that's good imo.
As a nation we are pretty involved in crypto, there are quite a few Romanians active on Hive as well, we have a bunch of functional crypto exchanges, there's Elrond which is a Romanian blockchain project that does really good lately, but Romania is still quite far from adopting crypto "the El Salvador style". I'd love if that would happen, but I doubt the corrupt leaders would accept it.
The young generation is definitely ready for Bitcoinization, it is amazing how many young ones around here own crypto or have some sort of connections with crypto, but we are a country with plenty of elderly as well, that mostly thanks to youth leaving the country to other ones in Europe, in search for a better living .
Over all I don't think my country is ready for Bitcoinization and honestly I don't think El Salvador was either, but it happened anyway. Sometimes you just have to push progress forward... What about you, how ready is your country to follow suit with El Salvador?
Thanks for attention,
Adrian
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I'm readyyyy♥
Great. Same here.
As you’ve said. The young generation is pretty much ready here also but the country itself is far from ready
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Where do you live?
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I believe it's something inevitable. Soon or later it will happen. Even some politicians in the US are considering it, with Hillary Clinton recently saying that Bitcoin could eventually surpass the US Dollar as the world reserve currency. In the future, it might be BTC or even something like Elon Musk's Marscoin, but for simplicity, efficiency, and ecology, the jump to 100% crypto will eventually happen.
I thought Marscoin was a meme...
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I think that the S-curve of adoption is being followed, but that we still have some way to go before reaching the point of maximum growth. The more we see people using Bitcoin,. the more OTHER people will start to use Bitcoin. And the more Bitcoin is used, the more everyone will learn about it.
It's up to people like you and me to ensure that the new people learn the RIGHT information, not the government BTC information, or the bank BTC information or the financial news BTC information.
Overall, if I look around me, I see a lot of hope and positive developments!
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True. The problem right now is that even crypto people see it more as a speculative asset than what it was designed for.
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Nigeria is still far from been ready for it as well. Yes, lots of us Young generation are here on hive and other cryptocurrency exchange platform but more are out there who still have no clue as to how it work yet.
So far I have been able to convinced some of my friend to join hive block chain and some left because they can not operate the block chain.
We shall be there at some point in time, is a gradual process but definitely we are not ready yet.
Luckily for the young ones pushing mass adoption forward.
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I am ready but my country isn't and I don't even think they would be anytime soon, we aren't even in the point of being cashless.
I'm honestly not excited about cashless societies.
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Why aren't you?
I feel it would be easier.
I don't like the control the banks would have on us.
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Didn't think about it that way, interesting but well, here I still feel like even without it being implemented here, the banks have a whole lot of control.
The one thing that crypto lacks is just mainstream trust. For example, if you get scammed with a credit card, you have a good chance of getting your money back. With crypto, probably not.
That being said, I think crypto will inevitably become widely used, especially given how open young people are to the idea.
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true. Binance still hasn't refunded my $60.
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Yeah thanks for this great article
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