wait wait wait!!!
Don't just me with my post title, it is not because I don't believe in crypto, or I deny the fact that some of the countries in the world that already make crypto as the legal payment that they can do. But cryptocurrencies will never replace fiat in my country.
It is because we have a law that says the only legitimate form of payment that can be taken here in my country in the Rupiah, the national currency of Indonesia. And I don't think that there will be any politician that will try to change the law that controls that specific issue. Actually even paying things using Foreign Currency here is prohibited, although there will always be the same way to get around that, but once you got caught doing any payment but not using the National Currency, you can be caught and prosecuted.
There have been some cases in the past, where several people who rented a car for tourists in Bali were caught by the police because they take USDT as a form of payment. I know that crypto can be a good way to get around the difference in the fiat that one has especially for foreigners, but as long as the way is still the same, we should always be careful.
But the government is still ok with cryptocurrency because they consider it as derivatis or something like that, which can be transacted in some of the local crypto exchange here in my country.
So for now Crypto will never replace fiat, at least in my country. : )
#cent community is still calling for all the warriors for the Hive Community Battles & Wars on INLEO. So show up with your battle armor, and forward!!!!
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