Whoooo! Yaaay! Horray!!!!! Yeee Hawww! Central African Republic Adopts Bitcoin as Legal Tender A statement from the president's office on Wednesday confirms the passage and signing of the necessary legislation. By Oliver Knight Apr 27, 2022 at 6:59 a.m. CDT Updated Apr 27, 2022 at 2:11 p.m. CDT Confirming rumors that had been around for a few days, the Central African Republic has become the second nation in the world to adopt bitcoin (BTC) as legal tender. According to a statement from President Faustin Archange Touadera's office, the National Assembly passed, and he signed, a bill drafted by the minister of digital economy, Gourna Zacko, and the minister of finance and budget, Calixte Nganongo. The legislation established a legal and regulatory framework for cryptocurrencies, and made bitcoin legal tender alongside the existing CFA franc. “There’s a common narrative that sub-Saharan African countries are often one step behind when it comes to adapting to new technology,” Finance Minister Herve Ndoba said last week, as quoted in Bloomberg. “This time, we can actually say that our country is one step ahead.” The Central African Republic has a population of 4.83 million, around 11% of which have access to the internet. Less than a year ago, El Salvador became the first country to adopt bitcoin as legal tender. Nuff said...
Will be very interesting to see if this is beginning of the end or truly new beginning. We shall all see.
So far, it's meaningless. Few degenerate states. The 3 unknown parties that owns 80% of BTC, that puts them in position of power over those 2 states. @angrytrader shared a research paper recently. Shows that it wasn't used that much after all, even within those two countries. And everything moves via govermsnt app. Zero privacy. What an irony. People runnin from fiat/cash, ends up even with less privacy.
Still this is very interesting experiment. I think it will not end well, but we will see. As I mentioned before 21mil max can be changed, not easily of course.
Yes, it probably isn't used much besides trading yet. But with the rise of the USD inflation, it will be. And it's definitely a step in the right direction.
USD inflation is about to get hard stop. Most have never seen real Fed tightening but it is upon us. First time ever in my life time they give no shit about stocks, it is all about inflation. Rates going up in a big way.
No worries tho. Tether will print another 900 Trillion and it all will be fine. Seriously. Looking forward to it. ~ SALE 50% ~
i have been a supporter of crypto from the beginning without anyone beating it into my head. it's just a logical alternative to the boy's club of fiat. i am sick of governments and centralized systems of banking that manipulate the general public. is it perfect? probably not - but watching the dollar go to zero - well - any other life boat is looking pretty good. if you don't believe in crypto then invest in anything other than cash, this is why people are fervent about crypto, it beats drowning in worthless dollars. of course i got to thinking brokers and clearing firms will of course hate crypto because they can't make any commissions on it so we should all consider the source when people bash crypto right, lol.
Guys, I know you see Bitcoin and country together in the same sentence and start firing fireworks. But you have to look at the Human Development Indicators to understand the situation of the country, they don't even have water in some places, Central African Republic is the second last country in the index. https://hdr.undp.org/en/countries/profiles/CAF https://hdr.undp.org/en/countries/profiles/SLV Look at how the law has been approved, there wasn't any opposition and I can't find anywhere the details of such law. Don't you see another dictatorship trying to profit from its citizens?