Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 127. (Read 37650 times)

Some politicians from Paraguay, Brazil, and Mexico joined El Salvador already it's like the revolution of South American Countries, they should just come together for Freedom at last!  Their laser eyes are posted. It's been so long they've struggled with sanctions, they can't even trade freely without permission from higher ground. It all just needs the El Salvador president to light it all up.

Agreed and this would turn bitcoin more into a political tool to bring nations together against an oppressor. I reckon from the history of some South American countries, we know who this oppressor is hehe.

I thought bitcoiners’ laser eyes was larpy, however, what a storyline it would be if all Central and South American countries presidents begun having them on in show of support of bitcoin as a political tool hehe. This is from El Salvador president’s twitter account.

I've seen statements from politicians from Paraguay, Panama, and Brazil in the last few days all saying that they are considering similar legislation to El Salvador. This could well be the first domino in a global chain. Exciting times.

This is a very interesting and positive event in my opinion. Honestly, I'm not sure how it will affect the crypto world, but if it really does, we'll find out soon enough.

The president of El Salvador has promised a lot of relief for crypto owners and users.

That's how it is! This announcement was left for the end of the 2021 Bitcoin Conference with the participation of Jack Mallers.
Among the most impressive that helped me understand why bitcoin will be the currency that will lead the country of El Salvador is this.


At the conference the president of El Salvador makes the announcement.

Well, without a doubt, it is something that has been working for a long time, but they are lights of how the recognition and adoption of bitcoin could begin.

There is another thread that at the time showed the 2019 initiative, which shows that it is a slow process, so slow that it is still in the process of being approved.


El Salvador is ironically one of the countries where its citizens do not have access to a bank account, but a cell phone and Internet connection have a higher percentage.

Just to be clear the OP was misleading with thread title.

They have NOT made it legal tender. He is going to submit it to Congress next week to try and make it legal tender. In politics nothing is done until it's done.

but seems that you are both going quite a ways beyond the announcement in terms of seeming to mostly be focusing on bitcoin and lightning network at the moment

what a storyline it would be if all Central and South American countries presidents begun having them on in show of support of bitcoin as a political tool

But as far as i know , it is not El Salvador who had Bitcoin as legal tender instead it is Japan .

...

Peru might be next, but NOT as legal tender.  Last I looked, leftist whacko Pedro Castillo (graduate of the Hugo Chavez School of Government) has a small lead in their presidential run-off election.  Castillo is not a run of the mill leftist.

Peru has been fairly much a laggard in adopting BTC, but I have bought bfrom two ATMs there, both of which might be gone (at least one of them is, I'd have to check coinatmradar to see if the other is as well).

I know Venezuelans here in my city.  It is horrible what is happening there.  They use BTC (and another crypto, Dash?) more than one would expect.  In some cases, BTC/crypto saves lives...

If the Peruvian people choose to go down that road, may the Lord save them.  Bitcoin would help Peru in such dire circumstances, but not that much.

...

Peru might be next, but NOT as legal tender.  Last I looked, leftist whacko Pedro Castillo (graduate of the Hugo Chavez School of Government) has a small lead in their presidential run-off election.  Castillo is not a run of the mill leftist.

Peru has been fairly much a laggard in adopting BTC, but I have bought bfrom two ATMs there, both of which might be gone (at least one of them is, I'd have to check coinatmradar to see if the other is as well).

I know Venezuelans here in my city.  It is horrible what is happening there.  They use BTC (and another crypto, Dash?) more than one would expect.  In some cases, BTC/crypto saves lives...

If the Peruvian people choose to go down that road, may the Lord save them.  Bitcoin would help Peru in such dire circumstances, but not that much.

If 70% of the country's citizens are unbanked, a digital currency that requires zero/minimal registration will be more attractive to them. I just wonder how heavy the regulation on custodial services and other merchants will be once the bill is approved.

Anyway, if they fail, they can always go back to where they are. No harm done. But people will now be open to other possibilities when they start to orient themselves with crypto. Maybe, find another means how to earn money on their own. Because during this pandemic, a lot of people rely on crypto market to earn a lil bit of income like doing these bounty programs, participating on crypto tasks, getting airdrop, doing progring works and the likes, selling their artworks via NFTs,  and many other things. This will open more jobs to people and so it will help their economy in return.

Anyway, if they fail, they can always go back to where they are. No harm done. But people will now be open to other possibilities when they start to orient themselves with crypto. Maybe, find another means how to earn money on their own. Because during this pandemic, a lot of people rely on crypto market to earn a lil bit of income like doing these bounty programs, participating on crypto tasks, getting airdrop, doing programming works and the likes, selling their artworks via NFTs, and many other things. This will open more jobs to people and so it will help their economy in return.

Of course this will be a very long process and a doorway to even more complex blockchain elements. All countries can start to observe and evaluate the development of Bitcoin and El Salvador as the country that first made Bitcoin a legal tender.
This study can of course be used as initial data for the implementation of blockchain technology on a wider scale in other countries. I strongly support this.

Exactly.  I have felt similar reservations straight from seeing Jack Maller's Miami presentation that included the El Salvador president's statement.  Right from the start Maller and other commenters upon the topic were presenting the matter as if it were a "done deal" - even the President seemed to proclaim that it will be done in the coming week - and I have hardly known any government to get things done that quickly, especially the more complicated the legislation or rule that is going to be passed.

Another devil in the detail matter would be if the President sends over a draft legislation and the congress looks at the matter and decides if they want to pass it "as is" - something like "the sky is blue" would be easy to get agreement, not have any debate and then pass without amendment, but if there are stake holders with varying interest, including potential pressures from outsiders, then surely there might be some considerations regarding whether some of the language of the draft legislation needs to be changed or if they are able to agree to passing the draft exactly as proposed.

So, at this point, we not ONLY have a lot of presumption that whatever was proposed would just go through without modification and then even questions about what is being proposed exactly - though I presume that some links have been shared about what is being proposed.

Surely, I am going to become more interested if something does actually pass (and to see what that is, exactly), and surely surprised if something actually passes this week as seems to be a kind of presumption towards the President's statement that he is "sending something to parliament on the topic this week".. what is he sending exactly?  Did he already send it?  Define this week.