El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 138.

Artemis3

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Quote from: JayJuanGee on June 14, 2021, 11:23:46 AM

Quote from: ?? on ??

This is one of the news that the bitcoin community has been waiting for, the government of elavador strongly believes that adopting blockchain-based cryptocurrencies is the right solution to develop the country's economy so that it continues to really develop.

Bullshit. The El Salvador bill (and even the various El Salvador govt reps - or peeps directly involved in discussing the direction of such developments) have not said anything about the "adoption of blockchain-based cryptocurrencies".. at least not so far.. Maybe you need to show me such a link if such a thing exists?

That sounds like your dumbass wishful-thinking interpretive way of framing the matter of what is going on in hope that you or some other dweeb can pump some kind of stupid-ass shitcoins, put out lame and misleading talking points or other nonsense.

Thankfully this is about bitcoin, not garbage altcoins or the little side projects from the institutions that are destined either shrink or disappear entirely.

Sadly these types are common here, talking about "ecosystem" which is euphemism for altcoins which most (all) reproduce the same flaws of fiat or worse.

The politicians and some media people in my country love the word "cryptocurrencies" its no wonder we have the worst economy of the planet. Bitcoin is no mere cryptocurrency or "something blockchain", Bitcoin is the reason the world is changing, not a blockchain or flawed clones and blockchain less tokens.

Its not about cryptocurrencies, its about Bitcoin. It matters, because the others do not follow the same principles and simply confuse or worse.

Gamerholic

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I think this is exceptional news, only if it is positive for the market or negative, time will tell. If it is now legal tender and so on and so forth - then the USA tax authority may impose a different tariff - which will have a negative impact on the market. On the other hand, legalization itself is quite a pleasant thing and creates a positive outlook for the cryptocurrency as a whole. But the fact that the moment is historical I think is recognized by all.

JayJuanGee

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Quote from: ?? on ??

This is one of the news that the bitcoin community has been waiting for, the government of elavador strongly believes that adopting blockchain-based cryptocurrencies is the right solution to develop the country's economy so that it continues to really develop.

Bullshit. The El Salvador bill (and even the various El Salvador govt reps - or peeps directly involved in discussing the direction of such developments) have not said anything about the "adoption of blockchain-based cryptocurrencies".. at least not so far.. Maybe you need to show me such a link if such a thing exists?

That sounds like your dumbass wishful-thinking interpretive way of framing the matter of what is going on in hope that you or some other dweeb can pump some kind of stupid-ass shitcoins, put out lame and misleading talking points or other nonsense.

Quote from: ?? on ??

I think elsavador will be an example for other countries, if their economy develops after adopting bitcoin, then subconsciously we will see many other countries also accept bitcoin soon.

At least you have not forgotten about the proper word to reference king daddy.. that's good. Wink

mindrust

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Quote from: bbc.reporter on June 13, 2021, 09:51:33 PM

Quote from: mindrust on June 13, 2021, 03:27:15 AM

Quote from: bbc.reporter on June 13, 2021, 12:33:01 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.

Hehehe it is not that simple, however. China is an export driven economy with much of these exports depend on the American consumers. If China dumps their dollar forex reserves and dumps those treasuries, it will raise interest rates and weaken the American economy which would also weaken China’s own economy.

The news you watch or read that China and America will go to war against each other is only sensationalized junk to distract you. It also has become a reality show for politicians to have the attention on them.

What will China do with all those T-bills though? They will want to buy stuff with them some day. I can't imagine them hodling those forever. Isn't the US having a trade deficit against China? How long will that continue do you think? ~Printing money and buying stuff from China~ If this keeps happening, some day China will have far more Dollars than the US and that'll happen even though the US has the USD printer. What then?

bbc.reporter

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Quote from: mindrust on June 13, 2021, 03:27:15 AM

Quote from: bbc.reporter on June 13, 2021, 12:33:01 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.

Hehehe it is not that simple, however. China is an export driven economy with much of these exports depend on the American consumers. If China dumps their dollar forex reserves and dumps those treasuries, it will raise interest rates and weaken the American economy which would also weaken China’s own economy.

The news you watch or read that China and America will go to war against each other is only sensationalized junk to distract you. It also has become a reality show for politicians to have the attention on them.

MCobian

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Quote from: Asuspawer09 on June 13, 2021, 04:58:12 PM

Quote from: Rizzrack on June 11, 2021, 10:08:33 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

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.

This is why I want my country's president to be led not by old people, because 39-year-old Nayib Bukele has proven to be more courageous
in making big decisions, by making El Salvador the first country to make Bitcoin a legal tender. Which is not necessarily the leader of other
countries capable of doing this. I admit this is a big step for third world countries such as El Salvador, I hope that Nayib Bukele's decision
can be paid off with the development of a better economy in El Salvador. Then make other countries that are looking at what El Salvador is
doing and follow in El Salvador's footsteps to accept Bitcoin as a legal tender.

CryptoStar19

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There is going to be some challenges with this, like getting every point of sale entity to accept bitcoin and custody it... but overall this will put bitcoin in front of the eyes and into the minds of many who may have otherwise not come across it. This (a nation-state accepting bitcoin as legal tender) was a long time coming and it's huge for bitcoin and for crypto in general.

This is a small step for bitcoin (bitcoin will continue to grow regardless of who chooses to jump on the bandwagon... and who chooses to remain behind), but a giant step for humanity.

estenity

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Central American bank approves the Salvador project:

https://twitter.com/nayibbukele/status/1403918634158862342

so maybe a regional league can occur ?

Asuspawer09

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Quote from: Rizzrack on June 11, 2021, 10:08:33 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

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.

Traderbtcc

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Quote from: ?? on ??

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.

JayJuanGee

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Quote from: mindrust on June 13, 2021, 07:46:39 AM

Quote from: KeikoKitagawa18 on June 13, 2021, 06:57:58 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.

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.

Ratash

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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.

Imran232

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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.

bryant.coleman

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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.

mindrust

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Quote from: KeikoKitagawa18 on June 13, 2021, 06:57:58 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.

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.

KeikoKitagawa18

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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.

MusaMohamed

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Quote from: mindrust on June 12, 2021, 05:03:41 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.

mindrust

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Quote from: bbc.reporter on June 13, 2021, 12:33:01 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.

bbc.reporter

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Quote from: mindrust on June 12, 2021, 05:03:41 AM

Quote from: UserU on June 12, 2021, 04:58:18 AM

Quote from: mindrust on June 12, 2021, 04:52:37 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.

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.

btc78

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Quote from: Rizzrack on June 11, 2021, 10:08:33 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?

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.

Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 138. (Read 43160 times)