El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 129.

JayJuanGee

legendary

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: ?? on ??

Because of this national behavior of El Salvador, Bitcoin will form a good news, which may support Bitcoin to rise temporarily.
But don't forget that China and the United States and other big countries have all started to sell Bitcoin, and the development environment of Bitcoin is not optimistic.

Lots of no name newbie accounts spreading (repeating) various forms of nonsense in recent times. Use the FUD dice, or some other method to spread quasi-incoherence?

At least there is some kind of a budget to support such thread cluttering sockpuppet foney baloney, no?

mindrust

legendary

Activity: 3276

Merit: 2442

El Salvador citizenship prices will skyrocket!

The best and the fastest way to get a citizenship is having a El Salvadoran girl friend.

and I didn't know that El Salvador had such beauties. Look at those!

Solid stuff indeed

https://latinawomenbrides.com/salvadoran/

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El Salvador Wives Characteristics

They are intelligent
Education plays an important role in the life of any Salvadorian woman. Despite the traditional patriarchal structure of the local families where men are hunters and women stay at home and take care of hearth, Elsalvador girls long to get a good education and learn at least one foreign language. They try to follow the latest trends in culture and social life to be considered good interlocutors who can support any topic. A woman from El Salvador is one you will be proud of while appearing with her in the company of your friends or colleagues.

They are vibrant
You can be 100% sure your Salvadorian woman speaks her mind. These girls don’t know how to hide their emotions and always wear their heart on the sleeve. Sometimes El Salvador women can be considered too loud and bothering. They talk and even scream a lot. But it is just their passionate nature that cannot be expressed in any other way.

They are frivolous
Hot Salvadorans are all about an easy attitude towards life, the ability to get out of a difficult situation with minimal losses, and just incredible non-punctuality. The phrase “it is not worth doing today what can be postponed for tomorrow” can be the motto of the majority of El Salvador women. Get ready to wait extra 30 minutes while waiting for her on your first date.

They value their traditions a lot
Despite the overwhelmingly low standard of living and poverty this small country has repeatedly experienced, El Salvador girls are proud of their past and traditions. They rabidly follow all the rites and celebrate holidays together with their numerous relatives and family friends. If you want to conquer the heart of any Salvadoran woman, you should be excellently aware of the history and culture of El Salvador.

They are very friendly
El Salvador women are surprisingly friendly. If you have lost your way, they will be more than happy to help you, host you, treat you with various delicacies, invite you to visit their place again, and finally hug you goodbye. These girls like to write long romantic messages accompanied by long wishes of all the very best to you and the whole family of yours. All this is spiced up with “strong hugs” and “friendly kisses”.

Daym!!

gabbie2010

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Vave.com - Crypto Casino

Quote from: kiki8899 on June 17, 2021, 10:53:50 PM

Although El Salvador is a small country in Central and South America, it has a population of 6.5 million. These 6.5 million people will be potential users of Bitcoin. Bitcoin is definitely more beneficial than exploitable.

Though the population of El Salvador might be small as you rightly said however there might be few individuals in that country that might be very rich and whose investment in Bitcoin might trigger price change coupled with other fellow country people, in a nut shell the numbers of users of bitcoin will continue to grow if the unbanked populace also utilized saving or storing their bitcoin in their respective wallets for easier P2P transaction and more so there is the tendency of other south American countries adopting bitcoin after El Salvador.

verita1

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The price of bitcoin could have a great impact taking into account the success of the implementation of the Bitcoin Law in El Salvador and by the time that happens it would have to spend at least a year and compare the economic indicators and the satisfaction of the population. Poverty does not diminish overnight, it takes time.

The country of El Salvador is attracting investors with the bitcoin resource. I see it as a pilot test that allows us to see how bitcoin can alleviate the economic crisis. It would also help if the region of Latin America follows in the footsteps of El Salvador. But the answer to everything is time and results.

patientforzhou

jr. member

Activity: 64

Merit: 1

Maybe it's time for Musk to start tweeting to celebrate again!

Nora Olin

member

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The day when Bitcoin first became legal tender may become a day in history like the Pizza Festival many years later. The first to eat crabs, either eats the plump crab roe, or gets caught in the mouth.

zanezane

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★Bitvest.io★ Play Plinko or Invest!

Quote from: clint25n on June 18, 2021, 04:12:03 AM

it's very good that there are countries that adopt bitcoin. this is a very important process. like this, what will be done by countries in asia, such as iran for example. that's why some countries have started to legalize bitcoin, this is a sign that the digital currency can serve as a legal tender. And also a long-term investment.

It's good but the problem is that they are a small country and I don't think that they will have a really big impact to bitcoin just because they made it a legal tender, it's legal tender and not currency.

clint25n

sr. member

Activity: 840

Merit: 250

it's very good that there are countries that adopt bitcoin. this is a very important process. like this, what will be done by countries in asia, such as iran for example. that's why some countries have started to legalize bitcoin, this is a sign that the digital currency can serve as a legal tender. And also a long-term investment.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: ?? on ??

His country will be rich.

Whom?

but wait, just because they accept bitcoin as legal tender they will be richer? on what way and how long?

Quote from: dota2bestplayer on June 17, 2021, 10:50:41 PM

As an old leek, I am very grateful to El Salvador for his wise decision. Pull back the Bitcoin that has almost fallen into shit from the edge of the cliff.

wrong , it is their country that almost into edge of cliff and not bitcoin.

JayJuanGee

legendary

Activity: 3948

Merit: 11416

Self-Custody is a right. Say no to"Non-custodial"

Quote from: TangentC on June 18, 2021, 01:15:55 AM

Quote from: JayJuanGee on June 18, 2021, 12:56:05 AM

2) have you heard of lightning network or strike? So far the fees have tended to be quite low on lightning network (and strike too, from what I understand - nearly free), but surely if the the quantity of usage exists longer in El Salvador and become more widely spread in terms of people transacting in bitcoin in El Salvador, probably the fees on lightning/strike will adjust to those new circumstances.. competition will likely come in to El Salvador, too.. in terms of other ways to use lightning network or maybe other second layer or even first layer transactions.

So far offchain networks like LN have been an epic fail for adoption,
the reason being it is far cheaper to use an exchange that does offchain transactions between their users at zero costs without the tech headaches of the never ending beta code.

From what I understand El Salvador, is trying to get a 1.3 billion dollar loan from IMF.
Most likely, their leader is trying to use bitcoin as legal tender as leverage to make sure they get the loan,
and as a condition of getting the loan , expect a ban on bitcoin from normal commerce to follow shortly after.
He cares little for bitcoin , it is nothing more than short term leverage to get the 1.3 billion dollar loan he wants.
Politicians work like that. Wink

We will see then.

I will brace myself in case disappointment ends up playing out in terms of either 1) the ease of use of the lightning network as a payment mechanism does not work as well as it has been touted or 2) in terms of Bukele having an agenda that might not be compatible with following through with bitcoin adoption (i.e. the legal tender adoption matter that is supposed to go into effect in early September).

TangentC

member

Activity: 266

Merit: 20

Quote from: JayJuanGee on June 18, 2021, 12:56:05 AM

2) have you heard of lightning network or strike? So far the fees have tended to be quite low on lightning network (and strike too, from what I understand - nearly free), but surely if the the quantity of usage exists longer in El Salvador and become more widely spread in terms of people transacting in bitcoin in El Salvador, probably the fees on lightning/strike will adjust to those new circumstances.. competition will likely come in to El Salvador, too.. in terms of other ways to use lightning network or maybe other second layer or even first layer transactions.

So far offchain networks like LN have been an epic fail for adoption,
the reason being it is far cheaper to use an exchange that does offchain transactions between their users at zero costs without the tech headaches of the never ending beta code.

From what I understand El Salvador, is trying to get a 1.3 billion dollar loan from IMF.
Most likely, their leader is trying to use bitcoin as legal tender as leverage to make sure they get the loan,
and as a condition of getting the loan , expect a ban on bitcoin from normal commerce to follow shortly after.
He cares little for bitcoin , it is nothing more than short term leverage to get the 1.3 billion dollar loan he wants.
Politicians work like that. Wink

JayJuanGee

legendary

Activity: 3948

Merit: 11416

Self-Custody is a right. Say no to"Non-custodial"

Quote from: TangentC on June 17, 2021, 11:35:13 PM

Hmm,
Don't count your bitcoin havens before they hatch.

https://www.bloomberg.com/opinion/articles/2021-06-16/bitcoin-is-now-legal-tender-in-el-salvador-is-that-really-a-good-thing

Quote

Bitcoinization won’t be a cure for the one in four Salvadorans who make less than $5.50 a day.
Dollar remittances will likely continue to dwarf Bitcoin equivalents for a long time.

https://www.coindesk.com/hankebitcoin-el-salvador

Quote

Hanke has previously tweeted that bitcoin would not bring down the cost of remittances,
as it costs 8% to cash out bitcoin at an ATM, compared with the 0%-4% charged by Western Union or MoneyGram.

Quote

Hanke argued that the "dollarization" of the country's economy – El Salvador uses the U.S. dollar as its currency – could lead to bitcoin holders elsewhere, including in Russia, China or Iran, "sucking up all the dollars in El Salvador like a vacuum cleaner."

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The counterargument is that El Salvadorans could spend bitcoin directly without needing to convert it into dollars.

https://ycharts.com/indicators/bitcoin_average_transaction_fee

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Bitcoin Average Transaction Fee
5.090 USD/tx for Jun 17 2021

Hmm, Nope
BTC average transaction fee is almost = to an entire day pay of 1 in 4 Salvadorans.
Tongue

1) I would imagine that having options is not going to be a bad thing, so you can characterize the bitcoin option as oppressively as you like, but you likely do need to consider the matter with some comparisons, and if it is cheaper to transact through western union or whatever other option, then they can use that western union option (especially if it is the cheapest and easiest to use), but of course, western union is going to raise their prices based on the competition, right? or move out of El Salvador, right?

2) have you heard of lightning network or strike? So far the fees have tended to be quite low on lightning network (and strike too, from what I understand - nearly free), but surely if the the quantity of usage exists longer in El Salvador and become more widely spread in terms of people transacting in bitcoin in El Salvador, probably the fees on lightning/strike will adjust to those new circumstances.. competition will likely come in to El Salvador, too.. in terms of other ways to use lightning network or maybe other second layer or even first layer transactions.

TangentC

member

Activity: 266

Merit: 20

Hmm,
Don't count your bitcoin havens before they hatch.

https://www.bloomberg.com/opinion/articles/2021-06-16/bitcoin-is-now-legal-tender-in-el-salvador-is-that-really-a-good-thing

Quote

Bitcoinization won’t be a cure for the one in four Salvadorans who make less than $5.50 a day.
Dollar remittances will likely continue to dwarf Bitcoin equivalents for a long time.

https://www.coindesk.com/hankebitcoin-el-salvador

Quote

Hanke has previously tweeted that bitcoin would not bring down the cost of remittances,
as it costs 8% to cash out bitcoin at an ATM, compared with the 0%-4% charged by Western Union or MoneyGram.

Quote

Hanke argued that the "dollarization" of the country's economy – El Salvador uses the U.S. dollar as its currency – could lead to bitcoin holders elsewhere, including in Russia, China or Iran, "sucking up all the dollars in El Salvador like a vacuum cleaner."

Quote

The counterargument is that El Salvadorans could spend bitcoin directly without needing to convert it into dollars.

https://ycharts.com/indicators/bitcoin_average_transaction_fee

Quote

Bitcoin Average Transaction Fee
5.090 USD/tx for Jun 17 2021

Hmm, Nope
BTC average transaction fee is almost = to an entire day pay of 1 in 4 Salvadorans.
Tongue

iram3130

legendary

Activity: 1512

Merit: 1010

ITSMYNE 🚀 Talk NFTs, Trade NFTs 🚀

https://www.livemint.com/market/cryptocurrency/world-bank-rejects-el-salvador-request-for-help-in-adopting-bitcoin-11623977988052.html

World Bank rejects El Salvador's request for help in adopting bitcoin. The point to be noted here is it rejected because of "environmental and transparency shortcomings".

Does World Bank take its suggestions on Twitter..? I also have a doubt like whether they really want to do it or just replied with the most dumb thing..?

JayJuanGee

legendary

Activity: 3948

Merit: 11416

Self-Custody is a right. Say no to"Non-custodial"

Quote from: bbc.reporter on June 17, 2021, 10:35:32 PM

@JayJuanGee. I am not quite certain why my reply caused you to get triggered. I was only speculating on what might occur based on how strike.me functions and how it might be deployed and used in El Salvador.

My reaction is not triggered. If you seem to be making pie in the sky speculation and also seem to be coming to quite strange and stretched conclusions that might even be lacking in factual or logical basis in a public thread, then it is likely good to attempt to address the extent to which your speculation might be grounded in reality or not or if the logic seems to be strong or not.

Quote from: fileo on June 17, 2021, 10:48:27 PM

Most likely there are more countries that could consider Bitcoin and pass the bill. Now we are officially seeing the country that is in legal Bitcoin adoption. Some countries are so much afraid about Bitcoin but El Salvador is different. They are tough and kinda advance with Bitcoin adoption.

The extent to which some places seem to be scared and spreading outrageous nonsense might be reason to find us (talking about bitcoin) in a price pump.. soon^tm

kiki8899

newbie

Activity: 49

Merit: 0

Although El Salvador is a small country in Central and South America, it has a population of 6.5 million. These 6.5 million people will be potential users of Bitcoin. Bitcoin is definitely more beneficial than exploitable.

dota2bestplayer

jr. member

Activity: 88

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As an old leek, I am very grateful to El Salvador for his wise decision. Pull back the Bitcoin that has almost fallen into shit from the edge of the cliff.

fileo

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Rangers Protocol

Most likely there are more countries that could consider Bitcoin and pass the bill. Now we are officially seeing the country that is in legal Bitcoin adoption. Some countries are so much afraid about Bitcoin but El Salvador is different. They are tough and kinda advance with Bitcoin adoption.

bbc.reporter

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Activity: 3164

Merit: 1506

@JayJuanGee. I am not quite certain why my reply caused you to get triggered. I was only speculating on what might occur based on how strike.me functions and how it might be deployed and used in El Salvador.

verita1

member

Activity: 1358

Merit: 81

More update on bitcoin in Latin America. The following tweet indicates the accounts of important representatives of the governments of some Latin American countries that support the idea that bitcoin be included as legal use in each of their countries.
Seeing it from our side for when this other important event happens. It will be good news but I am very sure that a significant percentage of the population of those countries have already been using bitcoin in their daily lives.

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#Bitcoin support in Latin America:

🇪🇨 Ecuador- @JuliusEC
🇲🇽 Mexico- @eduardomurat, @IndiraKempis
🇵🇦 Panama- @ gabrielsilva8_7
🇦🇷 Argentina- @fsancheznqn
🇵🇾 Paraguay- @carlitosrejala
🇧🇷 Brazil- @gilson__marques,, @ FabioOstermann
🇸🇻 El Salvador- @nayibbukele
🇨🇴 Colombia- @JCastroS

https://twitter.com/DocumentingBTC/status/1402299413754793990?s=19

According to Coinatmradar, the country of El Salvador currently has 2 Bitcoin ATMs.

https://coinatmradar.com/country/64/bitcoin-atm-el-salvador/

Collecting more information in relation to the bitcoin ATMs installed in El Salvador in a reply from its President Nayib Bukele to Athena Bitcoin. He suggested that the country needs about 1500 ATM Bitcoin.

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1,000? How about 1,500?

# BTC♻️🌋🇸🇻

As the first company to bring a Bitcoin ATM to El Salvador's @BitcoinBeach we are compelled to accelerate our plans to bring all the people of #ElSalvador 🇸🇻 an easy way to exchange #Bitcoin for cash.

@NayibBukele is 1000 ATM’s enough? #LeyBitcoin 🇸🇻

https://twitter.com/nayibbukele/status/1405299636013764610?s=19

If anyone is curious to know how Strike works. Don't miss this demo by Peter McAxelrod / McCormack
There is also an unmissable thread such as his visit to El Salvador.

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Buying coffee using #bitcoin in El Tunco from @EnzoRubio.

The lighting network is fast, cheap and works.

LFG El Salvador 🇸🇻

https://twitter.com/PeterMcCormack/status/1404472405549060100?s=19

I was honored to be invited to the El Salvadorian Presidential Palace to meet with President @nayibbukele.

We discussed #bitcoin, volcano mining and the opportunity for the people of this great country.

This project is the real deal.

https://twitter.com/PeterMcCormack/status/1404813359330045961?s=19

Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 129. (Read 40721 times)