The President of Tanzania makes move to adopt bitcoin

sincerem said:

Its a welcome note for the Tanzanian people, it's government chiefs are willing to prioritize crypto just as El-salvador's govt did recently. Many countries are now seeing the prospect of adopting it, knowing that the future holds a lot around BTC and any other Cryptocurrencies in the digital ecosystem. I'm hopeful things will go as planned around crypto, it is set to stay for long.

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Definitely, it will restore confidence to the crypto investors as more and more country joins. It will no longer be Elon Musk's but it will be everybody's engagement in the virtual currency space.
I see a shift of power from the present major players to every investors who participate in crypto market.
I hope she finalise the adoption very soon

I noticed that Miami have shown more interest in bitcoin to the extent that they are now paying workers salaries in bitcoin , it shows the extent that bitcoin development have reached , what I hope is that The development doesn't stop in any phase but keeps increasing as more states adjust to the development of the coin at a very large phase too

Lens1000 said:

More and more countries are beginning to accept bitcoin. Institutions too are beginning to accept bitcoin as payment for their products and services . This is seen in Miami. The mayor of Miami announced that he bought bitcoin worth millions in dollars . Shortly after is pronouncement, a real estate company based in Miami announced that they will accept bitcoin as payment for their properties

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Wisdom01 said:

The expected increase would arrive soon as more adoption and development is growing rapidly and many crypto users who dont know about crypto existence ,start knowing more about the use ,the best part we could all take is to show more support by spreading the awareness on crypto to different platforms

Click to expand...

More and more countries are beginning to accept bitcoin. Institutions too are beginning to accept bitcoin as payment for their products and services . This is seen in Miami. The mayor of Miami announced that he bought bitcoin worth millions in dollars . Shortly after is pronouncement, a real estate company based in Miami announced that they will accept bitcoin as payment for their properties

I think this is because they have seen the potentials of bitcoin and crypto currencies in general. El Salvador recently adopted bitcoin as a legal tender recently and now there are other countries following suit, but my question is, if bitcoin is adopted as a legal tender we are those countries that are not really rich like others benefit from it?.

To be frank with the statement about a country adopting Bitcoin or crypto to be their currency. I don't understand why a commodity will be used as currency of a country. Currency is a pecuniary measure for the convenient of the public. How can you price an apple in terms of Bitcoin or maybe how much in Doge is a kilo of rice? That is crazy to me.

Lens1000 said:

It's a welcome development on the cryptocurrency ecosystem. It will go along to favour the price of bitcoin because the volume of transactions will be on the high side. It will create inclusiveness around the digital currency as more and more people are engaged.
I foresaw an increase in price in the future

Click to expand...

The expected increase would arrive soon as more adoption and development is growing rapidly and many crypto users who dont know about crypto existence ,start knowing more about the use ,the best part we could all take is to show more support by spreading the awareness on crypto to different platforms

Wisdom01 said:

love the innovation they are taking ,it would attract more foreign investors and even reduce the unemployment rate in the country ,also improving the foreign capital inflow and support in the country since there would be more crypto users who will start participating in trading and earn some money that help the progress of the country

Click to expand...

It's a welcome development on the cryptocurrency ecosystem. It will go along to favour the price of bitcoin because the volume of transactions will be on the high side. It will create inclusiveness around the digital currency as more and more people are engaged.
I foresaw an increase in price in the future

love the innovation they are taking ,it would attract more foreign investors and even reduce the unemployment rate in the country ,also improving the foreign capital inflow and support in the country since there would be more crypto users who will start participating in trading and earn some money that help the progress of the country

Lens1000 said:

Definitely, it will restore confidence to the crypto investors as more and more country joins. It will no longer be Elon Musk's but it will be everybody's engagement in the virtual currency space.
I see a shift of power from the present major players to every investors who participate in crypto market.
I hope she finalise the adoption very soon

Click to expand...

I believe the shift in the spotlight will move away a little from Elon musk to others too. More and more investors are coming through, with time we gonna see many embracing the market with aplomb. Only time will tell, the future is bright around crypto, the transition is still ongoing.

Thats a nice and welcome development ,the world is slowly adopting to bitcoins and other cryptocurrency Because they are slowly seeing the potential that will happen in the future with cryptocurrency,the government has now accept cryptocurrency, El Salvador and Tanzania,more Will soon join

Tanzania next to adopt bitcoin?
The president of Tanzania has called on financial chiefs in the country to prepare for the arrival of bitcoin and cryptocurrency.

President Samia Suluhu Hassan said Tanzania’s Central Bank should explore the use of bitcoin following El Salvador’s announcement last week that it would be adopted as legal currency. She said that, Tanzania will follow emergence of a new journey through the internet by adopting bitcoin

She called the Central Bank of Tanzania to be ready for the changes and not be caught unprepared.

Some African countries too are willing to follow suit. Recently, we heard that Nigeria and Tunisia are preparing to adopt bitcoin as one of their currency.

What is your take on the bold step taken by the Tanzania president exploring the cryptocurrency space.

Its a welcome note for the Tanzanian people, it's government chiefs are willing to prioritize crypto just as El-salvador's govt did recently. Many countries are now seeing the prospect of adopting it, knowing that the future holds a lot around BTC and any other Cryptocurrencies in the digital ecosystem. I'm hopeful things will go as planned around crypto, it is set to stay for long.

lamia5765 said:

First of all not all the countries are participating in cryptocurrency trade.
Only countries that has regularized cryptocurrency ar participating in cryptocurrency trade.
So if a country is banning crypto he will never participating in cryptocurrency trade.
Second in a country that imposes tax of crypto earning he will grap more tax from cryptocurrency collector and this is their gain.

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Oooh, I get it. Tax is the government's take home pay. That's thoughtful and will add to the government's income. Most of the african countries need to adopt this , to cater for some infrastructural development.

It will also create jobs , so many people will be more engaged doing crypto trade. I will be elated if my country decides to adopt this too.

Lens1000 said:

There are some questions that needs answers to. Why are the countries participating cryptocurrency trade? What do they stand to gain from this? I do not know if you have answers to these questions but my take is that, they may want to by crypto assets, hold and sell for future gain. Just like they've always traded on stock

Click to expand...

First of all not all the countries are participating in cryptocurrency trade.
Only countries that has regularized cryptocurrency ar participating in cryptocurrency trade.
So if a country is banning crypto he will never participating in cryptocurrency trade.
Second in a country that imposes tax of crypto earning he will grap more tax from cryptocurrency collector and this is their gain.

btaliat said:

If government involves in it, they will find a way of manipulating the market. Though I love your introduction, many African leaders are joining crypto world because they can't help but join it. Crypto has become a household name and the vibrant youth have seen solace and soft landing with it. So government only needs how to also make money through this big projects.

Click to expand...

There are some questions that needs answers to. Why are the countries participating cryptocurrency trade? What do they stand to gain from this? I do not know if you have answers to these questions but my take is that, they may want to by crypto assets, hold and sell for future gain. Just like they've always traded on stock

Lens1000 said:

If you can't beat then , join them. she has foresaw the potentials in the crypto space and has taken a bold step to explore it. The major reason why most of the countries do not want to adopt the virtual currency is because they can not control it. It's a decentralized currency , it's not subjected to government authority.

Click to expand...

If government involves in it, they will find a way of manipulating the market. Though I love your introduction, many African leaders are joining crypto world because they can't help but join it. Crypto has become a household name and the vibrant youth have seen solace and soft landing with it. So government only needs how to also make money through this big projects.

Kingsley said:

To be honest am pleased to hear something like this coming from Africa, And tells me that some president are really working and they are indeed very wise by keying in at this point in time when the market is gaining more momentum. That is a very wise move and I know the citizens of Tanzania will be glad to know of this unlike my country.

Click to expand...

If you can't beat then , join them. she has foresaw the potentials in the crypto space and has taken a bold step to explore it. The major reason why most of the countries do not want to adopt the virtual currency is because they can not control it. It's a decentralized currency , it's not subjected to government authority.

Ever since the United States has tried to accommodate cryptocurrencies into her system but trying to taxing the users and making money from it rather than banning or regulating it, other countries as well have been trying to follow the suit by finding subtle way to bow down to the power of cryptocurrencies. El Salvador is the first country to adopt it and Tanzania, Nigeria and Tunisia in Africa are following the suits by finding ways of embracing cryptocurrencies

To be honest am pleased to hear something like this coming from Africa, And tells me that some president are really working and they are indeed very wise by keying in at this point in time when the market is gaining more momentum. That is a very wise move and I know the citizens of Tanzania will be glad to know of this unlike my country.