Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 37. (Read 40425 times)

If the government, or in other words, the president of El Salvador himself, had the courage to implement Bitcoin as a whole in that country, of course this would be seen as quite a positive thing for all citizens there. So that every person who has income can very likely use some of it to buy Bitcoin as well as the other part for their own living needs.

I don't think that people there are still skeptical about Bitcoin because their own country's top officials are quite happy with Bitcoin so there is no reason for people to feel doubtful and skeptical about Bitcoin. Moreover, the people there can see for themselves that Bitcoin can indeed be used like money when they want to spend something on the market or in their nearest shops. So mass adoption is already happening there and we will only see other countries want to make the same steps for this.

Topic of legalization of BTC in El Salvador, which took place on the initiative of President Nayib Bukele, has been discussed in this topic for a long time.  
Information about the events that followed September 7, 2021, when the Law on BTC Legalization came into force, in the financial sector of El Salvador and some issues of public life in this country, is described in this topic mainly in the form of a summary of English-language international media.  
However, I think that all users of our forum are very interested in finding out what is happening in El Salvador with Bitcoin turnover directly from the residents of El Salvador themselves.  First of all, from those residents of El Salvador who are well versed in matters of cryptocurrencies and BTC.  Judging by the logic of events and the fact that the President of El Salvador and the Government of the country, together with the Legislative Assembly, approved and organized mass training of students and schoolchildren in blockchain technology, and our forum is about this, I think that residents of El Salvador who are interested should register on our forum directly  in communication on BTC issues.  In this regard, it would be very cool if any of the residents of El Salvador would write some news about the use  BTC, or about the Volcano project, Bitcoin City, Chivo, Sivar... and so on, directly from this country.  
We could all learn fresh and reliable information on a topic that interests us.  

In any case, we all wish the prosperity and development of El Salvador, which is already setting an excellent example for other countries in the Central and Latin American region!!!

I think this is a consistent step from El Salvador taking steps to buy one bitcoin per day so that Bitcoin will become a pioneer in the way people start making transactions and interacting with financial markets, especially if it reaches its peak and this will be an interesting story.

Of course, we don't know whether they will adopt them all en masse or whether some of the Salvadoran people are currently skeptical about Bitcoin, how it will affect their income, but they all have their own advantages.

The government of El Salvador has a lot of nice plans for Bitcoin in their country which we can see from time to time. They are slowly implementing the plans they had with Bitcoin. The government of El Salvador has taken such a difficult decision by going against its own media and against its own people. Nayib Bukele made a kind of bet because if Nayib Bukele could not implement his plan then he would definitely lose his power but he was able to do this successfully by going against the media despite taking such a big risk. They bought bitcoins at low prices and they are still buying bitcoins. El Salvador has implemented many plans, and Nayib Bukele is trying to implement those plans for the future. Nayib Bukele will do something for his country for which people will forever remember him.

Since 2021, the government of El Salvador has been successful in all the steps it has taken regarding Bitcoin. They have also put a lot of hard work into the volcano project which has been successful, and there have been 241 megawatts of volcanic output. The price of Bitcoin has been consistently lower than before but is currently increasing slowly. Whereas the government of El Salvador took steps to buy one bitcoin per day and is fulfilling those steps even though the price of bitcoin is very low. But when the price of Bitcoin increases, it will definitely be economically viable and will get a lot of profit from Bitcoin. And the way the miners are working today, they will surely reap their rewards at a time when the price of Bitcoin will reach its peak.

Chivo wallet is the one and only recognized wallet they government approved for it citizens and uses that to make any disbursement that they targeted towards the people, there's nothing bad if you make use of either chivo or sivar wallet and still have another alternative which is a non custodial wallet for your personal use, this is just synonymous to using an exchange which is a custodial wallet to using a non custodial wallet, there could be a number of wallets people can choose to use just like chivo or sivar wallets and also have a cold storage along for privacy sake.

Perhaps such a more functional wallet will be more in demand in El Salvador, since at least every resident knows about Chivo, but if you believe the statistics, not many people use it. Chivo was easier to implement, since everyone received a bonus for downloading, but after complaints about blocking, it seems to me that its popularity has decreased significantly, and I also suspect that many downloaded it just for the sake of $30.

El Salvador They are working very hard on the volcano project. In the end they must have been successful, because the President of El Salvador, Nayeb Bukele, tried hard and was successful. El Salvador has made substantial preparations to produce 241 megawatts of volcanic power. Because in this direction they are careful enough because from here they are trying hard enough to advance the company by providing large amount of supplies.  
Although the price of Bitcoin has been very low since 2021, the pace of work of workers continues to increase despite the low Hash rate and Bitcoin price. If the price of Bitcoin increases, the company will grow faster and the miners will get more benefits according to the quality of work.

For more details: https://www.forbes.com/sites/digital-assets/2023/10/04/the-first-bitcoin-mining-pool-from-el-salvador-is-here/?sh=1a39646468b1

Get ready for a new era of Bitcoin Mining with volcanic energy. Discover everything about Volcano Energy, a $1 billion Bitcoin mining project set to transform El Salvador through the development and operation of renewable energy plants

here this video

All crypto exchanges only provide services to their users, although the exchanges themselves can also make steps to attract more people to use Bitcoin. But if this is related to the use of people in countries that have actually legalized Bitcoin, in fact countries that are very close to El Salvador could find it easier to implement the same thing as El Salvador has done. A few moments ago I read a tweet from @romanmartinezc which said that it could be easier to have a discussion about Bitcoin while enjoying a delicious meal at a restaurant.

This is a good step, I hope other countries are going to emulate this in order to make their own decision. Exchanges equally have their part to play in this, the recent initiative of Blockchain4Youths by Bitget is another bold step to ensure majority acceptance of cryptocurrency.

A person who took initiative and stood strong in his decision of bitcoin as legal tender might've got different reasons for the delay of developing the bitcoin city. The state could request the government to speed up the process. The people going against the government's plan and making a bitcoin city parallel to the planned one might create controversy and the same could be interpreted in different ways by the organisationa that were against bitcoin adoption in El Salvador.

When market turns highly bullish we can see El Salvador experiencing good profit out of its holding. This doesn't make El Salvador a grown country. President Nayib Bukele have laid the path and it takes time to travel on the path and turn successful. The profit will support the government to complete its debts and focus on growth, as the country at present is struggling to settle debts.

Good for them. It doesn't matter who builds the "Bitcoin City" in the country, as long as it goes according to Bukele's original plans. The goal is to attract tourists into El Salvador, anyways. This could help spur the growth of country's economy in the long term. The so-called "volcano bonds" might get traction if it gathers the interest of foreign investors. If everything is done right, El Salvador might become a "developed country" soon.

Imagine how rich the government will be once Bitcoin turns bullish. It will be something beyond compare. Perhaps other countries besides the Central African Republic will follow El Salvador's footsteps by adopting BTC as legal tender? Only time will tell. As long as BTC delivers as promised, there should be nothing to worry about.

All residents of El Salvador are well aware of the Chivo wallet.
 But local Bitcoin enthusiasts from the company Sivar Investment decided to develop and release another Bitcoin wallet called Sivar Wallet.

Salvadoran company launches new Bitcoin wallet

 Sivar Wallet allows users to buy cryptocurrencies and interact with other crypto platforms, and also gives you the ability to deposit fiat money from a bank account.

Jose Juan Hasbun, CEO of the company said that the application is available in both iOS and Android.  It allows you to buy cryptocurrencies and interact with other crypto platforms.
Additionally, he mentioned that it is a blockchain wallet and operates on the main Bitcoin layer, but soon they will also aim to operate according to the Lightning Network protocol.
Transaction fees are still around $0.80 and $1.
On the other hand, he indicated that the project is aimed at supporting small businesses in the country.
CEO also indicated that the investment for this initiative amounted to more than $100,000. This includes seven jobs that they are currently creating.
 He also added that “We have high growth potential in El Salvador.  We plan to develop about seven to eight more projects in the country, one of which is related to real estate, asset tokenization, e-commerce for subsidiaries.”

It’s great that such 100% legal startups in the field of Bitcoin circulation have begun to appear in El Salvador itself.

it appears that the traffickers still operate to send african and indian migrants to usa through salvador

we suppose that salvadorans do not quit any more their country due to improvement of its situation

so if true the president acts to discourage this residual flow by practical measures

https://www.zerohedge.com/geopolitical/choke-migration-us-el-salvador-hits-africans-indians-1130-fee

El Salvador Town Tires of Waiting for Bukele, Will Build ‘Real Bitcoin City’



An El Salvador town has grown tired of waiting for President Nayib Bukele to build Bitcoin City – and will instead build its own “Bitcoin City” project “a few kilometers away.”

Residents of Berlin, a town in the Usulután Department, say they want to build the “real Bitcoin City,” instead of waiting for government efforts to materialize.
More information

Nayib Bukele has implemented all the Bitcoin related plans he has in his country. Although he did not get the support of his party leaders in the beginning, he gradually proved his decision to be the right one. He is now receiving a lot of praise for all the decisions he has made related to Bitcoin. One of the biggest steps for him now is to build a Bitcoin City. The step is big but he can implement this step.

A statistical analysis by the World Bank among Latin American countries showed that El Salvador was ranked third among Latin American countries. Although Costa Rica and Chile are ahead of El Salvador, El Salvador's far-reaching development may overtake Chile in the future. Salvador is now established as a significant country within Latin America thanks to the President's landmark move to declare Salvador a Bitcoin City after 2021.
source

El Salvador the road to Bitcoin in September in 2021
El Salvador become the first country in the world to adopt Bitcoin as legal tender.
https://www.talkimg.com/images/2023/10/24/TNrRa.jpeg
This image is taken from a YouTube video.
EL Salvador is a country where Bitcoin is legal and anything can be bought and sold in Bitcoin.There you can make your payment through Bitcoin ATM card if you want to buy a variety of things including daily necessities and fruits.This opportunity may have taken Salvador to other cryptocurrency heights.Those who are citizens of these countries may be very lucky to be able to purchase their goods in exchange for cryptocurrency.

This transformative process has also begun to take place in El Salvador because the government is still making the best efforts to make the country of El Salvador better and more advanced and more liked by many people from other countries. For example, in implementing Bitcoin into their educational curriculum, which the children there can begin to learn so that people and the younger generation there will find it easier to know about Bitcoin from an early age and can immediately make Bitcoin more famous in the surrounding community.

The innovations needed by the government will also continue to be carried out by the government there by clearing every obstacle that could make their work slower. I am also quite sure that as long as El Salvador is still led by President Bukele, I think every necessary innovation will continue to be carried out for the good of the country and the people there.

I think it is still too early for Bitcoin to gain that deep penetration despite being a legal tender. The journey is a marathon and not a sprint.  El Salvador have gotten it right and by integrating Bitcoin into their education curriculum and also launching various programs that  is only a matter of time before the transformative results begin to manifest.

To really make Bitcoin attractive in El Salvador requires a lot of innovations and I'm sure the government of El Salvador already knew this and are working towards bringing some to fruition.