@CryptoSorted 9 September 2021 more from that month

Here are the only true disadvantages of any country adopting Bitcoin or any cryptocurrency for that matter as a legal tender. 1. Absolute loss of monetary control. The government, through various economic instruments could influence (manipulate) the value of their currency to strengthen the local economy. With crypto as a legal tender, this is not possible in any way. The government totally lacks any power to implement a monetary policy on any public crypto. And considering that the crypto market is heavily manipulated and extremely volatile, this could pose a real challenge and possibly leave the country vulnerable, for example, if I were a world super power with lots of money I could crash Bitcoin to wreck a country depending on it and similar tactics. 2. Volatility. Volatility is a two edged sword. It also a feature, not a big, in crypto. But it wouldn't work well for businesses and individuals who needs predictable cash flow to operate their businesses smoothly. Businesses make financial plans and budgets that guide their actions. You can't prepare a reasonable budget with crypto as the value of your money keep changing. And during periods of extended volatility you're literally fucked. However this particular problem can be solved through instant crypto to fiat conversions at the point of payment, but it begs the question of the wisdom of adopting it in the first place if one have to convert it, in order to be useful and reliable? PS: Crypto is best used by countries as reserve currency who's value is expected to go up over time. #Cryptocurrency