Central American bank approves the Salvador project:
https://twitter.com/nayibbukele/status/1403918634158862342
so maybe a regional league can occur ?
Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 122. (Read 37107 times)
June 13, 2021, 06:44:25 PM
June 13, 2021, 05:58:12 PM
Seems the guy has it all figured out !
Already working on a 95MW geothermal power plant fueled from the local volcano and building a BTC mining hub around it ! Big brain president !
If china sends miners away I'm pretty sure who is waiting around the corner to welcome them.
https://twitter.com/nayibbukele/status/1402714926800674827
Already working on a 95MW geothermal power plant fueled from the local volcano and building a BTC mining hub around it ! Big brain president !
If china sends miners away I'm pretty sure who is waiting around the corner to welcome them.
https://twitter.com/nayibbukele/status/1402714926800674827
This guy is a brave and genius doing it all by himself, It is obviously risky for them since they were the first country that would try this but this could be the start and everything could pay off especially if they are one of the first who started this.
A lot of countries for sure will get interested in something like this and probably already watching what this country could turn out in adopting bitcoin as a national currency. I mean this could easily be the key for bitcoin reaching the moon probably around 500k$ if this continues. You could just imagine where all of the people and businesses in a country will be introduce to bitcoin because it's a national currency in their country.
As more country starts to do that bitcoin will explode since more people are gonna use bitcoin and at the same time could be a big help for them when it comes to investment or making a profit, this could speed up the increasing demand in bitcoin or adaption of bitcoin in the world.
June 13, 2021, 05:16:26 PM
El Salvador has made history by doing this. And it triggered some other countries to do the same also which is really good news I think. I hope that the results of these actions can be positive in the future.
They definitely made history with this one action, they drew the entire crypto space attention with this news, honestly I heard about El Salvador when I saw the news, before then I had no idea there was a country called that, one of the interesting part of the news was the that investing 3 bitcoin in El Salvador will grant you a greencard(permanent resident), if I had 3 bitcoin I would have just moved over to there, lol, I just hope some day my government will also accept bitcoin as a legal tender too. 
June 13, 2021, 05:06:19 PM
This is very good news but it still cant make the market stable because untill now the price still keep going down, i hope more and more big country will doing this so the bear market will end.
Imagine what would happen If a country like USA or Germany declared that they won't be using USD or Euro starting from tomorrow. Bitcoin would hit $10 million in a few hours probably. I don't think this is beyond the realm of possibilities. You'll never know what will happen tomorrow. These are interesting times.
Hahahaha
I agree that you never know what is going to happen tomorrow, but still we should not be putting very much weight or even considerations and preparations into 1/million scenarios.
June 13, 2021, 05:04:04 PM
its a really good choice they made i think this can boost the country economy since they can trade bitcoin for usd so the country income will be in dollars but for btc its not enough more reputed and strong ountries should follow this example so btc will be worldwide exchangable for any fiat in the world so it can be an important investement asset i think this can help stablies the price.
June 13, 2021, 11:51:46 AM
Truely, we have to admit that el salvador gives us hope that one day my country also gives me that much freedom to use bitcoin. But now i feel little bit jealous if i was in el salvador right now. But i wish one day my country make us proud to say that our country gives us freedom to use bitcoin anywhere, anytime in our country. By the way congratulations to the people of el salvador and thanks to the prime Minister who tooks that decision and make the dream come true of el salvador crypto people.
June 13, 2021, 08:51:23 AM
I am afraid that President Nayib Bukele is walking on a very thin line here. By awarding the status of legal tender, he has set Bitcoin and US Dollar on a collision course. The Americans are going to be really pissed. And remember that the CIA has overthrown regimes in Latin America for far less serious "offences". If everything goes well in El Salvador, then it creates an existential threat for the US Dollar. There are 7 countries apart from the US where USD is used a legal tender. But the real danger comes from the 14 countries that peg their currency to the USD. Unlike the first group, the second group consists of economic power houses such as Saudi Arabia and the United Arab Emirates. I would like to see for how long Bukele manages to remain as the president.
June 13, 2021, 08:46:39 AM
This is very good news but it still cant make the market stable because untill now the price still keep going down, i hope more and more big country will doing this so the bear market will end.
Imagine what would happen If a country like USA or Germany declared that they won't be using USD or Euro starting from tomorrow. Bitcoin would hit $10 million in a few hours probably. I don't think this is beyond the realm of possibilities. You'll never know what will happen tomorrow. These are interesting times.
June 13, 2021, 07:57:58 AM
This is very good news but it still cant make the market stable because untill now the price still keep going down, i hope more and more big country will doing this so the bear market will end.
June 13, 2021, 04:49:10 AM
The southern countries are going full Sparta on the Dollar of the north. Maybe China, Iran and Russia will join this rebellion against the dollar in the future too. Nobody really likes the dollar other than the Americans (probably many Americans don't like it neither) and yet everybody still uses it. Apparently that's a contradiction which must stop.
It is politics.If they join the Alliance, it is because they want to break down the US dollar power but whether they will succeed, it is a different aspect.
It will be a biggest challenge in global economy after the Gold standard collapse many decades ago. US dollar took over the Gold standard and help the US have biggest position in the global economy.
This challenge does not help China or Russia to take down the USA because they need to make noise and need Alliance.
June 13, 2021, 04:27:15 AM
China will never join this rebellion because China is one of the largest foreign hodlers of United States treasury securities. A failure of the American economy and the dollar will be a failure on China’s own investment in the trillions hehe.
They can always decide to dump their position before they act. If China and USA can't get along, that is probably going to happen. I don't know if China really going to join the Bitcoin Alliance but I can predict that they are not going to hold the US debt forever. At some point they will want to get rid of them. Actually I don't know why they didn't do it already. Just dump them worthless papers.
June 13, 2021, 01:33:01 AM
Triggered?
Are there any news which I am not aware of? Which countries exactly are considering doing the same thing? Do you have a source? If that's true, that is big news. In other words, big if true.
Well, they are speculated to be mainly American (South/ Central) territories according to this article.
Quote
It is understood that at least four more countries are now preparing paperwork that will set the wheels in motion to deliver the vote to their respective parliaments. And, according to global financial expert Paul Murillo, one of them could be in a position to make the move in the next few months.
“Several countries have been making noises about the possibility of making Bitcoin mainstream within their financial systems, but El Salvador’s government has been the only one to just simply get on with it – until now,” he said.
“Several countries have been making noises about the possibility of making Bitcoin mainstream within their financial systems, but El Salvador’s government has been the only one to just simply get on with it – until now,” he said.
https://www.cityam.com/more-countries-line-up-to-make-bitcoin-legal-tender-which-one-will-be-next/
Interesting.
The southern countries are going full Sparta on the Dollar of the north. Maybe China, Iran and Russia will join this rebellion against the dollar in the future too. Nobody really likes the dollar other than the Americans (probably many Americans don't like it neither) and yet everybody still uses it. Apparently that's a contradiction which must stop.
China will never join this rebellion because China is one of the largest foreign hodlers of United States treasury securities. A failure of the American economy and the dollar will be a failure on China’s own investment in the trillions hehe.
June 12, 2021, 07:02:46 AM
Seems the guy has it all figured out !
Already working on a 95MW geothermal power plant fueled from the local volcano and building a BTC mining hub around it ! Big brain president !
If china sends miners away I'm pretty sure who is waiting around the corner to welcome them.
https://twitter.com/nayibbukele/status/1402714926800674827
The man Knows what he is doing and what he risks for His country . He even make this ready before the announcement and the sending to the congress for approval?Already working on a 95MW geothermal power plant fueled from the local volcano and building a BTC mining hub around it ! Big brain president !
If china sends miners away I'm pretty sure who is waiting around the corner to welcome them.
https://twitter.com/nayibbukele/status/1402714926800674827
Wondering how many things EL Salvador will make it for bitcoin and surely we are looking into this to make happen as our country hopefully will consider same as this also in the near future.
June 12, 2021, 06:30:21 AM
Interesting.
The southern countries are going full Sparta on the Dollar of the north. Maybe China, Iran and Russia will join this rebellion against the dollar in the future too. Nobody really likes the dollar other than the Americans (probably many Americans don't like it neither) and yet everybody still uses it. Apparently that's a contradiction which must stop.
It's like everyone else is adopting the "wait-and-see" approach before El Salvador went in with guns blazing.
For those superpowers, it might take a while; China plans its digital Yuan while many other China-based cryptos (VET for instance) have been complying with the government regulations.
June 12, 2021, 06:03:41 AM
Triggered?
Are there any news which I am not aware of? Which countries exactly are considering doing the same thing? Do you have a source? If that's true, that is big news. In other words, big if true.
Well, they are speculated to be mainly American (South/ Central) territories according to this article.
Quote
It is understood that at least four more countries are now preparing paperwork that will set the wheels in motion to deliver the vote to their respective parliaments. And, according to global financial expert Paul Murillo, one of them could be in a position to make the move in the next few months.
“Several countries have been making noises about the possibility of making Bitcoin mainstream within their financial systems, but El Salvador’s government has been the only one to just simply get on with it – until now,” he said.
“Several countries have been making noises about the possibility of making Bitcoin mainstream within their financial systems, but El Salvador’s government has been the only one to just simply get on with it – until now,” he said.
https://www.cityam.com/more-countries-line-up-to-make-bitcoin-legal-tender-which-one-will-be-next/
Interesting.
The southern countries are going full Sparta on the Dollar of the north. Maybe China, Iran and Russia will join this rebellion against the dollar in the future too. Nobody really likes the dollar other than the Americans (probably many Americans don't like it neither) and yet everybody still uses it. Apparently that's a contradiction which must stop.
June 12, 2021, 05:58:18 AM
Triggered?
Are there any news which I am not aware of? Which countries exactly are considering doing the same thing? Do you have a source? If that's true, that is big news. In other words, big if true.
Well, they are speculated to be mainly American (South/ Central) territories according to this article.
Quote
It is understood that at least four more countries are now preparing paperwork that will set the wheels in motion to deliver the vote to their respective parliaments. And, according to global financial expert Paul Murillo, one of them could be in a position to make the move in the next few months.
“Several countries have been making noises about the possibility of making Bitcoin mainstream within their financial systems, but El Salvador’s government has been the only one to just simply get on with it – until now,” he said.
“Several countries have been making noises about the possibility of making Bitcoin mainstream within their financial systems, but El Salvador’s government has been the only one to just simply get on with it – until now,” he said.
https://www.cityam.com/more-countries-line-up-to-make-bitcoin-legal-tender-which-one-will-be-next/
June 12, 2021, 05:52:37 AM
El Salvador has made history by doing this. And it triggered some other countries to do the same also which is really good news I think. I hope that the results of these actions can be positive in the future.
Triggered?
Are there any news which I am not aware of? Which countries exactly are considering doing the same thing? Do you have a source? If that's true, that is big news. In other words, big if true.
June 12, 2021, 12:27:01 AM
IMF sees legal, economic issues with El Salvador bitcoin move
The International Monetary Fund said on Thursday it has a number of economic and legal concerns regarding the move from El Salvador to make bitcoin a parallel legal tenders.
The International Monetary Fund said on Thursday it has a number of economic and legal concerns regarding the move from El Salvador to make bitcoin a parallel legal tenders.
If it makes the world's biggest loan shark unhappy, then I like the news all the more, heh.
Something tells me it's more about self-preservation for them. Imagine if nations do adopt a currency which the IMF are unable to control and it does have the effect of improving their respective economies (it's a big "if", but imagine it happened), that results in fewer countries relying on the IMF, reducing their overall influence on the world stage. This is a potential threat to their vice-like grip on struggling countries if it proves successful.
Agreed. However, similar to what Carlton argued in the press subforum, there are people behind the IMF who has the political connections in government, military intelligence, and in business to topple regimes that do not bend to their will. This is more of a political movement that the movers are unaware of. I reckon Jack Mallers should begin hiring bodyguards and he should be careful of women suddenly inviting him to dates and parties hehehe.
June 11, 2021, 07:35:17 PM
El Salvador has become the first one and it seems like it won't be the last also. Some Latin American countries are also aiming the same thing and Mexico is one of them too. But IMF made a statement about its worries. It thinks that this action may cause harm to El Salvador's economy.
June 11, 2021, 07:12:52 PM
Thanks to all who have left their valuable thoughts on this thread. It has been a very intense week. Although I am Latin American, I had heard from El Salvador about the problems that its population has had due to the lack of work caused by the civil war and that caused a large number of Salvadorans to immigrate to the United States.
It is worth refreshing the idea of: Why Bitcoin for El Salvador? This is an important article that makes us understand Bukele's plan that suddenly became known in all corners of the world. He is a President with fresh, innovative ideas and great charisma.
In this Reuters article we can see how Salvadorans are starting to place their "Pay here with bitcoin" banners.
Today is El Salvador, tomorrow it may be some of our countries.
https://www.reuters.com/world/americas/el-salvador-approves-first-law-bitcoin-legal-tender-2021-06-09/
It is worth refreshing the idea of: Why Bitcoin for El Salvador? This is an important article that makes us understand Bukele's plan that suddenly became known in all corners of the world. He is a President with fresh, innovative ideas and great charisma.
Quote
El Salvador's economy relies heavily on remittances, or money sent home from abroad, which make up around 20% of the country's gross domestic product (GDP).
More than two million Salvadorans live outside the country, but they continue to keep close ties to their place of birth, sending back more than $ 4bn (£ 2.9bn) each year.
https://www.google.com/amp/s/www.bbc.com/news/world-latin-america-57373058.amp
More than two million Salvadorans live outside the country, but they continue to keep close ties to their place of birth, sending back more than $ 4bn (£ 2.9bn) each year.
https://www.google.com/amp/s/www.bbc.com/news/world-latin-america-57373058.amp
In this Reuters article we can see how Salvadorans are starting to place their "Pay here with bitcoin" banners.
Today is El Salvador, tomorrow it may be some of our countries.
https://www.reuters.com/world/americas/el-salvador-approves-first-law-bitcoin-legal-tender-2021-06-09/
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