El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 121.

tabas

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Quote from: ?? on ??

indeed no one doubts that El Salvador is very very serious about adopting bitcoin where they are very serious about adopting bitcoin to be widely applied in the country and where their seriousness is proven by creating several bitcoin ATMs.in the country so that transactions can be processed by people who adopt.bitcoin in the country of El Salvador this has a very positive impact on the survival of bitcoin in the future amid.the decline in bitcoin prices at this time of course it is very necessary for bitcoin itself

They've already come to the point of adopting bitcoin as a legal tender and that's an actual seriousness that they've shown.
Although we've seen some people that are against it because they don't like the idea and they don't know how to use bitcoin as their actual money.
But things can be done properly with the process and eventually those that are against it will see that it's an easy method for transactions.

Lucius

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Quote from: _act_ on January 17, 2022, 12:39:53 PM

There is a country called kingdom if Toga that have small population that wants to start using bitcoin, their currency called paʻanga is not also regulated by their government.

Question - why should news like this be in El Salvador's thread? It is also nonsense that the people of Tonga want Bitocin, only one member of their parliament wants it and it is currently only a proposal that is not even official.

Quote from: _act_ on January 17, 2022, 12:39:53 PM

Their former MP has tweeted how this will be possible and will be done this year, I created a thread about it but no much attention and response from people, but very possible Kingdom of Tonga with a small population of 100000 citizens can also adopt bitcoin very soon.

https://bitcointalksearch.org/topic/m.58980148

If all goes well, then Bitocin could become a legal tender in Tonga only at the end of this year - all relevant information is in this thread :

https://bitcointalksearch.org/topic/m.58992658

Quote from: _act_ on January 17, 2022, 12:39:53 PM

No death is yet recorded

Incorrectly, two deaths have been confirmed so far.

noormcs5

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Quote from: yohananaomi on January 15, 2022, 11:24:50 PM

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we should give appreciation to the country of El Salvador where they are really serious about adopting bitcoin widely in the country their every word is not just a discourse but it can be realized where even the country has created several bitcoin ATMs to make transactions for its people adopting the crypto world, of course this will have a very positive impact on bitcoin in the long term considering that currently bitcoin really needs adoption from developing countries like what El Salvador has done for bitcoin adoption.

what elsavador has done will be a trigger for other developing countries to also dare to innovate like they did. I agree with you that it is necessary to appreciate what elsavador has done with the courage that has been done, because the step of adopting bitcoin certainly requires courage that is not only based on trends but there is another bigger goal, progress for the country. and the people.

The advantages and ease of adopting bitcoin are certainly very supportive for those who have changed with renewable technology and there are many more benefits that the state can do for its people, all of which can be done through bitcoin. so that with bitcoin people can more freely send funds more easily and affordable well and quickly.

I don't think it is easy for any government to adopt bitcoin. There are many challenges both local and global to make this bitcoin adaption a successful one.
That's the reason why there is no announcement from any other country on making it a legal tender. Let's hope people learn from El Salvador and other countries follow them.

_act_

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Quote from: yohananaomi on January 15, 2022, 11:24:50 PM

what elsavador has done will be a trigger for other developing countries to also dare to innovate like they did. I agree with you that it is necessary to appreciate what elsavador has done with the courage that has been done, because the step of adopting bitcoin certainly requires courage that is not only based on trends but there is another bigger goal, progress for the country. and the people.

The countries that have currencies regulated by their government may still be thinking to solely depend on their local currency, but unlike El Salvador that only spend US dollars before that does not depend on a currencies regulated by El Salvadorian government.

There is a country called kingdom if Toga that have small population that wants to start using bitcoin, their currency called paʻanga is not also regulated by their government.

https://en.m.wikipedia.org/wiki/Tongan_pa%CA%BBanga

Quote

The paʻanga is the currency of Tonga. It is controlled by the National Reserve Bank of Tonga (Pangikē Pule Fakafonua ʻo Tonga) in Nukuʻalofa. The paʻanga is not convertible and is pegged to a basket of currencies comprising the Australian, New Zealand, and United States dollars and the Japanese yen.

Their former MP has tweeted how this will be possible and will be done this year, I created a thread about it but no much attention and response from people, but very possible Kingdom of Tonga with a small population of 100000 citizens can also adopt bitcoin very soon.

https://bitcointalksearch.org/topic/m.58980148

Even Tonga is presently accepting donations in bitcoin because of the volcanic eruption and tsunami that is occuring in the country recently. No death is yet recorded. Very possible the country is the next that will accept bitcoin as a legal tender.

https://news.marketcap.com/tonga-accepts-bitcoin-donations-amid-tsunami-onslaught/

yohananaomi

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Quote from: ?? on ??

we should give appreciation to the country of El Salvador where they are really serious about adopting bitcoin widely in the country their every word is not just a discourse but it can be realized where even the country has created several bitcoin ATMs to make transactions for its people adopting the crypto world, of course this will have a very positive impact on bitcoin in the long term considering that currently bitcoin really needs adoption from developing countries like what El Salvador has done for bitcoin adoption.

what elsavador has done will be a trigger for other developing countries to also dare to innovate like they did. I agree with you that it is necessary to appreciate what elsavador has done with the courage that has been done, because the step of adopting bitcoin certainly requires courage that is not only based on trends but there is another bigger goal, progress for the country. and the people.

The advantages and ease of adopting bitcoin are certainly very supportive for those who have changed with renewable technology and there are many more benefits that the state can do for its people, all of which can be done through bitcoin. so that with bitcoin people can more freely send funds more easily and affordable well and quickly.

tyz

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Quote from: Fatunad on January 11, 2022, 05:48:46 PM

Quote from: tyz on January 11, 2022, 03:55:51 AM

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maybe we have seen several times that the country of El Salvador is really serious about adopting bitcoin in the long term for the next few years as for example they have created several bitcoin ATMs to conduct transactions for their citizens in the country we hope this will have a positive impact for the survival of bitcoin in the future because currently in the midst of the price condition of bitcoin which is still not stable bitcoin really needs recognition from developing countries like this because of what El Salvador is doing

In the end, the success or failure of Bitcoin in El Salvador will be measured by the acceptance of the people. In the meantime, there have been several reports and documentaries about the Bitcoin experiment in which many locals have their say. Overall, the mood towards Bitcoin seems to be 50/50, with younger people being more open to the introduction of Bitcoin than their elders, partly because the younger ones also claim to speculate with Bitcoin. The older ones are particularly concerned about the strong volatility. And the documentaries were all shot before the current downturn. Therefore, it can be assumed that acceptance has not necessarily increased in recent weeks.

We couldnt really expect that acceptance would really be totally in full scale into its citizens and it would surely takes time because we know that we've been get used to fiat
and dealing with almost no movement when it comes to value and then theres some switch up or integration which is totally opposite on what we've been dealing
for generations but well it would really depend if recognition would really be gradually change or there would be people who would stick out on things
that they've been used to.

I agree with you that of course it takes time. Bu in the end, most ordinary people will weigh what is better for their lives. A US dollar with which I know today what it will still be worth tomorrow, or a Bitcoin that can stand today at 69k and tomorrow at 41k. Most people understandably do not act idealistically but pragmatically.

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Quote from: tyz on January 11, 2022, 03:55:51 AM

Quote from: ?? on ??

maybe we have seen several times that the country of El Salvador is really serious about adopting bitcoin in the long term for the next few years as for example they have created several bitcoin ATMs to conduct transactions for their citizens in the country we hope this will have a positive impact for the survival of bitcoin in the future because currently in the midst of the price condition of bitcoin which is still not stable bitcoin really needs recognition from developing countries like this because of what El Salvador is doing

In the end, the success or failure of Bitcoin in El Salvador will be measured by the acceptance of the people. In the meantime, there have been several reports and documentaries about the Bitcoin experiment in which many locals have their say. Overall, the mood towards Bitcoin seems to be 50/50, with younger people being more open to the introduction of Bitcoin than their elders, partly because the younger ones also claim to speculate with Bitcoin. The older ones are particularly concerned about the strong volatility. And the documentaries were all shot before the current downturn. Therefore, it can be assumed that acceptance has not necessarily increased in recent weeks.

We couldnt really expect that acceptance would really be totally in full scale into its citizens and it would surely takes time because we know that we've been get used to fiat
and dealing with almost no movement when it comes to value and then theres some switch up or integration which is totally opposite on what we've been dealing
for generations but well it would really depend if recognition would really be gradually change or there would be people who would stick out on things
that they've been used to.

tyz

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Quote from: ?? on ??

maybe we have seen several times that the country of El Salvador is really serious about adopting bitcoin in the long term for the next few years as for example they have created several bitcoin ATMs to conduct transactions for their citizens in the country we hope this will have a positive impact for the survival of bitcoin in the future because currently in the midst of the price condition of bitcoin which is still not stable bitcoin really needs recognition from developing countries like this because of what El Salvador is doing

In the end, the success or failure of Bitcoin in El Salvador will be measured by the acceptance of the people. In the meantime, there have been several reports and documentaries about the Bitcoin experiment in which many locals have their say. Overall, the mood towards Bitcoin seems to be 50/50, with younger people being more open to the introduction of Bitcoin than their elders, partly because the younger ones also claim to speculate with Bitcoin. The older ones are particularly concerned about the strong volatility. And the documentaries were all shot before the current downturn. Therefore, it can be assumed that acceptance has not necessarily increased in recent weeks.

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Quote from: DdmrDdmr on December 24, 2021, 03:46:33 AM

<…>According to https://bitcointreasuries.net/, 1241 BTCs. There are other treasury tracking pages I've seen that lack the latest +21 BTC update.<…>

I’m actually doubting whether the above figure lacks 150 further BTCs. I’ve seen multiple sources now referencing the total toll to be 1.391 BTCs. I tried to find a detailed log of the purchases (rather than going through @Bukele’s twitter over a set of months), and encountered this Tweet:

https://twitter.com/cobie/status/1479260281528373250

Another different matter is the current countervalue of the said BTCs, which is at a loss on the books (and currently less than on the above image), and although this is a mid to long running game, it does serve as a reminder that they should ponder carefully withdrawing FIAT from the Trust to pay for Pet Hospital, Schools and such.

See also:
https://cryptopotato.com/heres-how-much-el-salvadors-bitcoin-is-currently-worth/

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Quote from: Daltonik on January 05, 2022, 08:40:36 AM

I don't know what is better to have at least some kind of protection in the form of a double signature like BitGo or to store bitcoin by one person as it happens with Michael Saylor and his company MicroStrategy where there are two main storage addresses https://www.blockchain.com/ru/btc/address/1FzWLkAahHooV3kzTgyx6qsswXJ6sCXkSR and https://www.blockchain.com/btc/address/1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ

Microstrategy puchases its coins with Coinbase and that (1FzWLkAahHooV3kzTgyx6qsswXJ6sCXkSR) is Coinbase adreess.

Also, Microstrategy announced its first purchase in August 2020
1FzWLkAahHooV3kzTgyx6qsswXJ6sCXkS is active since 2018-06-0
1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ is active since 2019-02-06

So...no Grin

Daltonik

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Yes, all this is from the area called expectation and reality, but we are here to understand how the adoption of bitcoin by individual states will eventually help the development of the blockchain ecosystem. I don't know what is better to have at least some kind of protection in the form of a double signature like BitGo or to store bitcoin by one person as it happens with Michael Saylor and his company MicroStrategy where there are two main storage addresses https://www.blockchain.com/ru/btc/address/1FzWLkAahHooV3kzTgyx6qsswXJ6sCXkSR and https://www.blockchain.com/btc/address/1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ isn't that why Saylor conducts all interviews from the same place and he has every reason to comply with security.

stompix

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Quote from: DdmrDdmr on January 02, 2022, 01:28:15 PM

As the article points out, and as logic would indicate, were it to be true, El Salvador would be running an unnecessary risk of asset seizure, were they to be subject to sanctions by the US at any point in time, or any other form of problems the custodial company could fall under.

You just have to love this shit, the whole thing it's so ridiculous you can't even get mad at Bukele anymore.

He shouts at the evil FMI on Twitter, then he goes on all four and begs for another loan.
He says Bitcoins bonds are the future, he quietly issues 500 million is $ bond right before Christmas to pay the government debt, all the while constructing a 4 million pet hospital from "profits"
He lashes on the US for that and this while all the time just like Maduro counting profits from hundreds of Citgo stations and stuffing his money in the US he plants Batms to get money from people working there, he partners with a company based in the US for the lighting payments, he stores the bitcoins of "the people" of Salvador with a US company.

This is so ridiculous on so many levels.
Just out of curiosity did he tweeted again that he has bought the last dip?

Daltonik

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Quote from: DdmrDdmr on January 02, 2022, 01:28:15 PM

<...> As the article points out, and as logic would indicate, were it to be true, El Salvador would be running an unnecessary risk of asset seizure, were they to be subject to sanctions by the US at any point in time, or any other form of problems the custodial company could fall under.

There is though no official confirmation nor denial of the above though from El Salvador to date.

See: https://www-criptonoticias-com.translate.goog/comunidad/quien-custodia-fondos-bitcoin-el-salvador-dicen-empresa-eeuu/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=es
https://twitter.com/ODELL/status/1476942900563005440

Yes, this is a rather strange step for a country that has decided to legalize the crypt and thereby challenging, including the banking system, although on the other hand, there are three private keys in the BitGo online wallet, two of which are with the owner and only one is stored on the server, so BitGo does not have access to your bitcoins, well, in theory, of course, it is possible to use BitGo was chosen by El Salvador for security reasons, including. I just don't have any other explanation for how it's organized, provided it's true.

DdmrDdmr

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Although not included as part of the alleged chivo wallet arquitecture, yet later related, the below referenced article points to BitGo as being the one taking custody of El Salvador’s bitcoins.

As the article points out, and as logic would indicate, were it to be true, El Salvador would be running an unnecessary risk of asset seizure, were they to be subject to sanctions by the US at any point in time, or any other form of problems the custodial company could fall under.

There is though no official confirmation nor denial of the above though from El Salvador to date.

See: https://www-criptonoticias-com.translate.goog/comunidad/quien-custodia-fondos-bitcoin-el-salvador-dicen-empresa-eeuu/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=es
https://twitter.com/ODELL/status/1476942900563005440

Quote from: stompix on January 05, 2022, 07:37:11 AM

<...> Just out of curiosity did he tweeted again that he has bought the last dip?

4/12/2021 was the last reference on his Twitter to buying the dip.

Molinology

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Yes, indeed this is great news. And now there are other countries like the US, Canada and the UK who have bitcoins to be used.

Daltonik

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The Bitcoin Fund of El Salvador is as closed as the chivo wallet, however, at least fifty cases of fraud have already been reported of the loss of bitcoins from the wallets of chiva users in the amount of more than $96,000, so opacity leads to the possibility of abuse.

After all, people there mostly have, as they say, not so large amounts in bitcoins, and the average loss is $1925, and I think this is a significant amount for the citizens of El Salvador.

Quote from: https://twitter.com/_elcomisionado_/status/1472993747830935552

DdmrDdmr

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Quote from: wavessurfing on December 23, 2021, 01:07:04 PM

<...> what is their total BTC stash now ?

According to https://bitcointreasuries.net/, 1241 BTCs. There are other treasury tracking pages I've seen that lack the latest +21 BTC update.

I’ve tried to find a site that keeps track of the details (at least date of purchase and number of BTCs on that date) to get an overview on the underlying purchases, but I’ve come out empty handed so far. We could track it here and backtrack the purchases, but I’d rather find a site that already does that.

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Quote from: DdmrDdmr on December 22, 2021, 04:36:11 AM

On this occasion, the purchase made by El Salvador/@Bukele is more modest than on prior occasions, and it lacks the buy the dip narrative, moving on to a more magic number emotionally driven one:

See https://twitter.com/nayibbukele/status/1473508767664906247

The above amounts to 21 BTCs (give or take some Sats), and the intent was to make the purchase at 21:21:21 on the 21/12/21, playing along with the 21 number in the rounded figure of El Salvador’s 21000 km2 surface (21 041 km2 really).

Maybe someone can derive some additional info from the receipt, which is not similar to any I’ve seen around.

what is their total BTC stash now ?

Artemis3

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If this country keeps this as State policy, it will become the wealthiest of its region, Dubai 2.0 or something

This was an unique chance in history to do so, others can copy but the first gets the most benefits, just like those who trusted Bitcoin in the early years did.

DdmrDdmr

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There are lies, damned lies and statistics. MTwain

On this occasion, the purchase made by El Salvador/@Bukele is more modest than on prior occasions, and it lacks the buy the dip narrative, moving on to a more magic number emotionally driven one:

See https://twitter.com/nayibbukele/status/1473508767664906247

The above amounts to 21 BTCs (give or take some Sats), and the intent was to make the purchase at 21:21:21 on the 21/12/21, playing along with the 21 number in the rounded figure of El Salvador’s 21000 km2 surface (21 041 km2 really).

Maybe someone can derive some additional info from the receipt, which is not similar to any I’ve seen around.

Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 121. (Read 40837 times)