Topic: 44 countries will meet in El Salvador to discuss Bitcoin (Read 1476 times)

I agree because, regardless of the outcome, people are discussing. This is another big initiative to promote and encourage crypto users. Because discussion is a good opportunity to explore new things. And hope it will lead to the expansion of digital currencies worldwide.

indeed, there may still be many countries that have very measurable considerations not to be able to adopt as soon as possible as did the state of el savador. Of course, this is as their protection against what might have a bad impact on the further development of their country before they themselves are ready.
It is only natural that many consider this as best they can, and there is nothing wrong with continuing to research and learn from El Salvador by continuing to hold bilateral meetings to discuss bitcoin.

Incidentally el savador does have the capacity for that and is able to provide understanding for many countries who really want to know about bitcoin. so of course many hope that this will continue to transmit the positive side of bitcoin to other countries who really want to continue to learn. it's clear the impact on bitcoin's development will be seen in the future, and we'll see that.

The best thing about this meeting is that Bangladesh Bank was also in it. That gives us little hope that our country is not ignoring it. They are actually learning about it and they are researching it as much as they can. So that means that, yeah, they might be thinking positively about it. So if they are thinking positively, then why not talk more about bitcoin in our country so that they can do their work a little faster? Though I don't care, when I saw my country's representative at this meeting, I felt very happy.

In fact El Salvador is proud to host the 44 countries that it meets for the purpose of discussing Bitcoin. Because as the President of El Salvador Nayib Bukele mentioned that the 44 countries will discuss about the domestic launch of Bitcoin and its benefits. And because so far El Salvador has been successful in adopting Bitcoin for its country, I think there will be more countries willing to follow in El Salvador's footsteps in terms of adopting Bitcoin and I hope that will happen in the future.

Bitcoin has a mixed reputation around the world, using Bitcoin is legal in most countries. Bitcoin presence is accepted in some countries, and banned by others.
After the media competed to report the policies of the president of El Salvador after adopting bitcoin as a legal tender in his country, now several countries are starting to race to give Bitcoin the stage. El Salvador bold move has prompted several other Latin American leaders to indicate that they will follow in El Salvador footsteps. Obviously, the way El Salvador adopted Bitcoin has pushed other country's leaders to capture something positive in Bitcoin and El Salvador has gone a step further with some infrastructure built using Bitcoin profit.

Failure only crosses the minds of people who are afraid to make changes, everyone does not like failure. The mindset of failure can turn into fear that can hinder success, but that does not apply to Nayib Bukele, he dared to make a breakthrough that shocked the world. Now leaders of other countries are starting to come to El Salvador to learn from Nayib Bukele about Bitcoin management in the country. Of course we all hope that other countries can follow in El Salvador footsteps, with continued adoption from several other countries, will further bring Bitcoin to a better direction in the future.

Depends on the presentation given and I think since those countries are curious about the status happen to El Salvador to their adoption on bitcoin for sure they will get some good inputs there, But the one we hope here is hopefully it will convert into another series of adoption which country announce another legal tender of bitcoin to their country. If this happen for sure first world countries will raise their thoughts and maybe create good regulation towards bitcoin.

I just hope that the meeting comes out to be successful because every day seems to be financially tough for the country and its survival. I am sure that the countries meeting up would help El Salvador in a way that it is able to make effective use of the decentralised bitcoin while taking care of its citizen’s sentiments.

I even read that the adoption of bitcoin there has an impact on increasing the tourism sector there. in February reported an increase of about 30% and recently reported an increase again to reach about 82% (about 1.1 million visitors) . For reference many news that preach this. such as Cointelegraph and TribbunNews (trusted local news in the country now i working ).

I think that extraordinary thing would not have happened if El Salvador had not adopted bitcoin as a legal tender.

I even read from cointelegraph that several well-known bitcoiners visited there and some stayed there like Max Keizer and Stacey Herbert who also decided to live in El Salvador.

So if someone says that the increase in tourism visitors in el salvador is not related to the adoption of bitcoin in el salvador then I don't think people who talk like that don't understand what they are talking about. although there is a lot of fud news that covers up the good news related to el salvador. so it's a little hard to find.

I agree that even though there are people who dislike him for what he did, even in his own nation, he did something that is definitely improving the lives of his own people and he is investing the money he gets from taxes and that means it is going to be something that would benefit the whole world because more people will realize why something like that would be a great idea and that is a good thing.

I personally do enjoy it whenever there is a case to be made about "why should I go into bitcoin" and the more correct answers you have, the better it will be for everyone and that should be very good and very useful for when we have those type of discussions with people.

they have no jurisdiction of any means in concluding that El-Savador is a failure, Nayib Bukele's decision together with the government officials to make bitcoin a legal tender is base on facts, they have planned, prepare enough resources and quite understand the pros and cons in bitcoin, they adopted it and there economy never got stucked by this decision since they have other sources to income generation, probably bitcoin adoption might be their "plan B" maybe when there's a bullrun and new ATH is set, but i will like everyone to respect the fact that El-Savador chose bitcoin adoption to use it as a currency and investment and they hold nobody explanation why, if others think right or wrong then they can as well decide theirs to either adopt or neglect.


Central African Republic is another and they are working enormously on Sango bitcoin projects.

In addition to bitcoin being a public conversation around the world, I think one of the positive impacts after bitcoin was legalized a lot of people talking about El Salvador. I myself don't know much about this country in the Americas, but when they successfully adopted bitcoin as a legal currency, I only learned about the country and the current president. It would be completely different if El Salvador didn't legalize bitcoin and I don't know anything about this part of the Americas. But there is a little less good impact when El Salvador legalizes bitcoin transactions, there is still no country that will follow El Salvador's footsteps to make bitcoin a legal transaction tool so far. Still need waiting few weeks, months or years later to see countries will use bitcoin as legal currency transaction payment.

in fact the actions of el salvador in legalizing bitcoin as a legal tender has opened the eyes of the world. has encouraged more people to dive into bitcoin and study it more deeply. The spark that el salvador has made actually has a wider positive impact on people who initially looked down on bitcoin. I say this because I am one of the people who know bitcoin since reading the news that went viral on social media about el salvador. and made me curious about bitcoin and a friend taught me a lesson about bitcoin. even some countries are starting to look secretly in studying more deeply about bitcoin. so there is no word fail for el salvador's action on the legality that he has applied to bitcoin as a legal tender in his country. because there is no real data showing the failure of El Salvador's actions to date. there are only excuses made up by anti bitcoins who always attribute el salvador's internal economic problems to bitcoin. although it has absolutely no clear connection.

For sure, I wanted to clarify since you did use the word failure, and even if you had been referring to how others seem to see the El Salvador adoption matter, the word failure was still used, so it seems good for us to clarify the matter and to go over what might constitute failure for anyone who might want to present the El Salvador adoption matter as a failure.  

There are forum threads on the topic and surely a decent number of naysayers in regards to El Salvador's bitcoin adoption - and surely it seems way too soon (premature) for them to have enough evidence to establish such a status even though some members do seem to either enjoy making those kinds of characterizations or citing lame mainstream articles that are making similar assertions about El Salvador's purported bitcoin adoption failure.

On a personal level, I do not mind allowing the facts take us where ever they might take us, so surely there should not be any problem attempting to either figure out various facts on the ground regarding what is happening in El Salvador and also to attempt to figure out if there might be either positive or negative developments in regards to how El Salvador's bitcoin adoption might be playing out.

Ever since El Salvador announced that they had legalized bitcoin as a legal tender as well as a currency, I remember that I haven't once spoken about the failure of that adoption. I didn't imagine that it actually failed even though it was a failure talked about by several people on the forums. So if you say I said El Salvador is failing about its bitcoin adoption then I don't agree either. So I'm on the same side as you who might disagree if people assume that the adoption of bitcoin in El Salvador has failed to meet its goals.

At this stage I understand that El Salvador is not perfect in terms of careful preparation of bitcoin adoption plans. They were the first to state in law that bitcoin is legal as a currency and means of payment, their drawbacks are talked about but we cannot expect them to be perfect from the start. In contrast to later countries that also want to legalize and adopt bitcoin, they learn from El Salvador's imperfections so it may be slightly more likely to achieve a success percentage over El Salvador.

I agree with everything that you outline here.. except I do not agree with any assertion that this kind of an adoption/initiative of bitcoin could be reasonably (or informatively) characterized as having had "failed" in any sense of the word with less than 1 year of having had gone into effect.. remember the actual law went into effect on September 7, 2021..

Furthermore, you indicated that the law gives citizens and residence of El Salvador more options.. whether they are actually in the country or transacting from outside of the country... If you, or any other member, wants to proclaim some kind of "failure" then you better come up with some data to support it, and I am not even saying that any of us need to agree with your data, but merely proclaiming that "failure" exists needs some kind of quantification and/or support for what is meant by that.. Sure it is possible to come up with various examples, such as 1) the chivo wallet had problems or 2) El Salvador is no longer offering a bitcoin bond, or 3) Only 10% or less (I am not sure about the number) of remittances have converted over to bitcoin from Western Union, or 4) on paper El Salvador is in the negative in terms of how much it spent on BTC versus how much the BTC are currently worth on the spot market, and/or 5) other examples of supposed failure or less than stellar success.. blah blah blah.. yet just coming up with a list of examples of less than stellar success is likely not going to be very convincing if there are not attempts to show various ways that adoption and awareness of bitcoin is increasing in the country (even if it is going at a rate that might well be slower than expected).

The first thing that made El Salvador legalize bitcoin as a legal tender is its use case. Decentralization may be another reason and then they start thinking about how the country can benefit from it by buying or investing initiated by Bukele. It's not about altcoin although there really isn't a clear reason why it's banned or not in the country. The use of altcoin will certainly be a different topic of discussion about El Salvador and bitcoin being legalized, the main focus being bitcoin which allows them to save on remittance fees instead of using fiat and fiat centralized services.

I haven't been following their bitcoin adoption much so far but it seems like some time ago they were said to have failed due to lack of interest from the public. I don't know, they have done their best to give their citizens freedom to use money, the state supports a decentralized currency and every citizen may have a bank in their hands because of that.

fuck shitcoins. .including but not limited to ETH and BNB..

You have hardly any assurance (beyond your feelings) that you are not going to get rugpulled with either ETH and BNB or any other shitcoin, so stop trying to equate those pieces of shit to bitcoin... merely because they seem to currently have network effects or whatever other lame feeling that you have about those coins/projects, and if you had not realized bitcoin has fundamental reasons for existing beyond its mere network effects... even if concededly network effects does make any project including bitcoin stronger and also including shitcoins, such network effects are not enough to ensure that any one of those various shitcoins have any assurance of survival beyond some kind of rugpull and merely because they have created various complicated rube goldberg intricacies within them... and yeah of course, the various shitcoins might also be able to keep up their appearances of actually having value for years or decades into the future, but absent some further developments, they currently do not even come close to having any kind of use case that even approximates what bitcoin is actually bringing to the table.

In other words, have you heard of poof of work and what actually distinguishes bitcoin from any other project, including but not limited to being distinguished from either of the two shitcoins that you listed or any other shitcoin?  Yes, there is actual amazing paradigm innovation with bitcoin that has not even close to having had ben challenged or competed with by any other project and/or shitcoin so far... when you have one, then please point it out, but surely your examples of ethereum and/or binance coin are not even close enough to establish any kind of substantial and/or meaningful rivalry regarding the use case(s) that bitcoin is serving and building since it went live in early 2009.

To bring this topic back to El Salvador, for various reasons including the fact that bitcoin is distinguished from the various other "crypto" projects including but not limited to shitcoins such as ethereum and binance coin (BNB), El Salvador has ONLY recognized bitcoin as legal tender.. and the reason seems to be that El Salvador recognizes and appreciates that bitcoin is distinguished from any other crypto projects, including those two shitcoins that you mentioned.   Sure, we cannot be sure if other countries might get caught up into various shitcoins, but so far it seems that El Salvador has not gotten caught up into promoting any other "crypto" besides bitcoin, even if it seems to have not necessarily made any of the shitcoins (including ethereum and/or binance coin or any other shitcoin) illegal in its jurisdiction.

This is a great news. Wow, if even 3-4 countries will adopt the system of bitcoin completely then u know what will happen , more countries will come and discuss about this system and market will boom after that. Well, this is the right time to invest.....

Not so many countries have adopted Bitcoin mate, remember that Bitcoin is decentralized and free from government control, which is something that governments do not like, thus the more reason why they would want to avoid Bitcoin completely, and impose regulations to limit the number of people that will use it. Bitcoin of course is already successful, it can no longer be said to be an 'experiment', or a coin that will die or go extinct, which makes things better, as it is its utility that is responsible for its success, and even without the acceptance of most governments, Bitcoin is still what it is.

I disagree specially about the altcoins you named.
The centralized altcoins that have serious design flaws are guaranteed to die. The only reason why their life is long is because of the rich centralized authorities behind them.
Otherwise ETH has unlimited supply and serves no purpose other than providing a platform to create useless tokens to pump and dump. And BNB is only alive because of the centralized altcoin exchange and without it this token has no purpose. All it takes is a government cracking down on them for BNB to drop down to zero in less than an hour.