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[Yugocean]

The President of Brazil has approved the bill that allows people to use Bitcoin and other cryptocurrencies as a means of financial activity.
Not a legal tender
The bill, however, doesn't give legal tender status to any crypto because the Brazilian Real is their national currency.
Example
Cryptocurrency will have the same use in Brazil as the Scottish and North Irish banknotes in those countries, while only GBP is legal tender.

 

[Bango]

Yes the situation in El Salvador is not too bad to me. I Know they bought initially at the top and is experiencing big loss. They're also buying at the bottom and will benefit immensely when the bull market returns.

Yes that's right. That's why I said that sometimes it can hurt you financially. In El Salvador, many people bought Bitcoin when the price was high. However, now Bitcoin is back on track and could benefit them in the future. People in such countries are very interested in digital currencies because they think that Bitcoin can make them rich. I can't buy bitcoins myself, but I invested some money on bitcoin cash

 

[AmandaJhonson168]

How to use uniswap with coinbase wallet

 

[Kennysplash]

It's encouraging that Brazil has finally recognized cryptocurrencies as legitimate. More countries should follow in these footsteps.

But most countries are now doing the opposite by placing bans and restrictions on the use of cryptocurrency. If only they can follow in the footsteps of Countries like brazil and El Salvador.

 

[btaliat]

Members should not get the news confused. While the president of Brazil allowed cryptocurrency coins to be used for financial activities, Brazilian Real is still in place . This is not the same with what happened in El Salvador where Bitcoin is the only legal tender.

 

[Margery]

Exactly, the recognition of cryptocurrency in this case does not mean that it will be legal as a means of payment on a par with real money. It's like in our country, the cryptocurrency is allowed to be used, but it does not replace fiat money. The same is true in Brazil.

 

[e3sar]

Members should not get the news confused. While the president of Brazil allowed cryptocurrency coins to be used for financial activities, Brazilian Real is still in place . This is not the same with what happened in El Salvador where Bitcoin is the only legal tender.

That's right bro, at all no country will change main currency of the country to cryptocurrency,
The main currency is a reflection to the economic value of the country opposite of the electronic process, I know know about very the long future but that's can't happen soon, in the other side there is some countries send who mining or trade in it to jail (like my country)

 

[Margery]

That's right bro, at all no country will change main currency of the country to cryptocurrency,
The main currency is a reflection to the economic value of the country opposite of the electronic process, I know know about very the long future but that's can't happen soon, in the other side there is some countries send who mining or trade in it to jail (like my country)

Wow how everything is strictly with cryptocurrency there! With us, it simply is not the main means of payment and that's it. You can mine for any amount of time, the main thing is that the user pays for the electricity consumed for this and all connections are legal.

 

[e3sar]

Wow how everything is strictly with cryptocurrency there! With us, it simply is not the main means of payment and that's it. You can mine for any amount of time, the main thing is that the user pays for the electricity consumed for this and all connections are legal.

Lets say the government here some of ignoramuses, in all cases we have alot of military persons in the backstage of the government, they have been legislated that any thing related to cryptocurrencies illegal ( mining - trade - if you get some from faucet like us xD )

 

[Flower]

The South American country has been a lover of cryptocurrency from the onset and they have been using crypto for quite a long time . That is why they decided to legalize it. It is really a good move for the cryptocurrency community.

 

[Wisdom01]

The South American country has been a lover of cryptocurrency from the onset and they have been using crypto for quite a long time . That is why they decided to legalize it. It is really a good move for the cryptocurrency community.

Even in North America too , countries like elsavador for Instance is also placing interest and have already taken it as a legal tender , this is actually a good and big contribution to the development of crypto currency

 

[fiery phoenix]

If citizens of Brazil believe that crypto are assets,then I think it is a good thing that their government has made them legal Cryptocurrencies are going to offer speculators in the country another investment opportunity and are very attractive because of their volatility

 

[Wisdom01]

If citizens of Brazil believe that crypto are assets,then I think it is a good thing that their government has made them legal Cryptocurrencies are going to offer speculators in the country another investment opportunity and are very attractive because of their volatility

i feel like with time the development of crypto currency would actually boost , it might not be an investment people are rest assured with ,but with time , I already believe that the price would probably boost to expectations

 

[e3sar]

i feel like with time the development of crypto currency would actually boost , it might not be an investment people are rest assured with ,but with time , I already believe that the price would probably boost to expectations

in all cases many people now feels very precaution because the fall that happened in the price from 90k to 20k, the real currency and metal will will keep its value (this is something taken for granted), so it still long way for the cryptocurrencies.

 

[Wisdom01]

in all cases many people now feels very precaution because the fall that happened in the price from 90k to 20k, the real currency and metal will will keep its value (this is something taken for granted), so it still long way for the cryptocurrencies.

That huge fall from 70k to 20k really made people alert and start taking precautions whenever they really want to invest , because they had already known that the huge fall could have effect on their investment ,so they are always careful

 

[fiery phoenix]

I think some investors who are well versed with investing in high volatilty assets knew that these markets might become discounted heavily if things turn sour.60% to 80% discounts came and for some this was just an opportunity to reload investments and it seemed very normal to some

 

[banaunnuh]

I think it is positive news for the ecosystem and for Brazil in general but it definitely has not had much impact in the market due to the amount of FUD that we have seen and are seeing nowadays, anyway as I said before it is good news

 

[fiery phoenix]

The fact is that very soon, we may see many countries legalizing crypto. This is because the number of youth in this scheme is quite alarming and government always want to go the way of their youth to prevent any form of protest or whatsoever.

Indeed I think that the cryptocurrency is one of the fastest growing markets in countries that legalized it. That is because due to the high returns it offers in a short period of time.Many investors are abandoning equities for crypto.Among the investors the youth dominate and they are the future of any country

 

[btaliat]

Indeed I think that the cryptocurrency is one of the fastest growing markets in countries that legalized it. That is because due to the high returns it offers in a short period of time.Many investors are abandoning equities for crypto.Among the investors the youth dominate and they are the future of any country

Anyone rushes into cryptocurrency because of the money it offers will surely regret doing so. This is because cryptocurrency is not consistent. There are some times that people will win and win big while other times, people won't

 

[Riberet19]

Anyone rushes into cryptocurrency because of the money it offers will surely regret doing so. This is because cryptocurrency is not consistent. There are some times that people will win and win big while other times, people won't

Yes, cryptocurrencies are too volatile and there are moments of euphoria where you can make a lot of money and moments that are the opposite, it is more than known that euphoria or extreme greed is what then also makes the falls in prices after so violent, and that is just what I think happens in the crypto world there are too excessive movements of greed and fear.

 

[btaliat]

Exactly, the recognition of cryptocurrency in this case does not mean that it will be legal as a means of payment on a par with real money. It's like in our country, the cryptocurrency is allowed to be used, but it does not replace fiat money. The same is true in Brazil.

Most countries really always prefer to have cryptocurrency used side by side with their currency rather than having crypto usurped the role of their fiat currency. It is not that wise to start adopting crypto without considering the effect it will have on the economy.