Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 41. (Read 40464 times)

The results of Bukele's fight against crime in El Salvador are still yielding good results.  The Norwegian cruise ship Fridtjof Nansen docked in the Salvadoran port for the first time this cruise season.  About 200 tourists from Europe, the United States and Canada sailed on the liner for excursion purposes and to see the sights of the country.  Local people naturally welcome guests well.  And for these residents who work in the tourism sector, this is quite a significant event.  They all hope that there will be many cruise ships and foreign tourists in the future.

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The question now is upon every attack that the government has made, other institutions and also the general public concerning bitcoin, what have these got to do with the globalization of bitcoin acceptability, everyone trying to start bitcoin ended up stopping theirselves because bitcoin cannot be intimidated by any political power or people, this is why El-Savador keep standing strong because they are independently on their own

El Salvador is indeed an example of a great process regarding bitcoin adoption. Because as you said, initially El Salvador strongly disapproved of Bitcoin adoption. But after that, as time went by, the views of society, the government and even the president began to open up little by little. Starting from the legalization of Bitcoin in El Salvador, to many people who disagree with this decision. But the President of El Salvador, Nayib Bukele, did not give up and continued to tout his decision to adopt Bitcoin. After that, little by little the economic system in El Salvador became a little better and people began to realize all that.
So people in El Salvador are slowly starting to agree and support the continued adoption of Bitcoin. Then in the past two years Bitcoin has been more or less legalized in El Salvador and perhaps a lot has definitely changed, especially regarding the economic situation there.

Because from what I read on news sites, El Salvador plans to build 20 schools, has this been done?

Source: https://inet.detik.com/cyberlife/d-5795618/cuan-dari-bitcoin-el-salvador-bangun-20-sekolah

I think this is a positive example of bitcoin adoption in El Salvador.
And most likely in my opinion the country of El Salvador will definitely get big profits, when the next bitcoin bull run market comes. So surely El Salvador will definitely make even more spectacular news after the upcoming bull market.

The country's first Bitcoin mining pool is currently ready in El Salvador.

El Salvador has launched the country's first Bitcoin mining pool, the so-called Lavapool, with the goal of making global Bitcoin computing truly more decentralized and exponentially more powerful. Strengthening the country's energy infrastructure, the announcement said the project was prepared in collaboration with mining experts from Luxor Technologies.  And it will only get stronger in the future.
The company currently operates Bitcoin mining policies around geographic decentralization, and the development of the El Salvador Bitcoin mining pool will further contribute to this goal. However, we are pleased to partner with Volcano Energy to launch Lava Pool, the institute implemented, and to support their mission in El Salvador and Latin America in general, and full credit to the country's government, Nayib Bukele.

In El Salvador, this Volcano Energy has expanded through the use of renewable energy.  Volcanic activity series is provided on the use of geothermal energy in the country of El Salvador.

However, the first phase of the Volcanic Energy project involves the construction of a 241 MW wind and solar power generation farm.  And will play a role in generating more energy in the future.

Source link: https://www.blocktrainer.de/el-salvador-erster-bitcoin-mining-pool-ist-nun-live/

El Salvador's Eco-Friendly Bitcoin Mining Pool "Volcano Energy" and the popular American company "Luxor Technology Corporation" have pledged to work together and establish the world's first Bitcoin Mining Consortium and made this proposal from their official Twitter page. However, in their proposal, the new mining pool that will be formed is named "LAVA Pool", one of the main objectives of which is to use Renewable energies and Geothermal energy and ensure the best use of energy.


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Vision have aided in El Salvador becoming one of the influential country regarding bitcoin utilization. El Salvador have innovated brilliant ideas about cryptocurrency and have taken a bold step to make bitcoin legal tender in the country, breaching the gap between cryptocurrency and the country's economy. Bitcoin as legal tender in El Salvador have developed the country's economy to become a balanced and competitive one towards other country's economy and budgets. Ensuring about the spreading of the news of bitcoin to every single citizen in the country, perhaps its all gradual process.

I feel El Salvador have made a decision that will go down in history as a great one. On the immediate, the country will enjoy so much attention and this is good for their economy. Give them ten years from now and see the level of technological innovation that will follow this legalization of Bitcoin.

I know there will be challenges along the way such as educating their aged population as well as their children on how to safely use Bitcoin. But if they adjust their educational curriculum to integrate blockchain, then the knowledge will grow faster than expected. They can also add vocational studies for the adults, in that way, no part of the population will be isolated.



If you think the super powers will give up their monopoly of global financial system so easily, the joke is on you. They will use every means to discourage people from embracing anything that opposes their power and control. IMF, the media and other institutions they use will be fully deployed to spread fear and misinformation just to achieve their aim. Well, the world is getting wiser per day thanks to the internet.

Bitcoin was once undervalued in El Salvador but today that has changed drastically, and Bitcoin is valued by everyone in El Salvador. Bitcoin is mostly taught in educational institutions especially, because El Salvador has the highest education rate, so children are being taught about Bitcoin in institutions. The government has a good initiative where children are getting Bitcoin education, and the country's government wants to teach adults about Bitcoin as well. Basically the government has taken the step because if the students are educated in bitcoin education they will be able to improve and help the country to move forward in the future. Moreover, we have seen that every step taken by President Nayeb Bukel since the official recognition of Bitcoin in 2021 has been successful. If we see this country after the next 10 years, it will be the most developed country in the world and will look very different, and the government will take many more initiatives and succeed.

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El Salvador has given the most attention to Bitcoin. Because from kids to adults all the kids are being taught the right knowledge about Bitcoin.  Surely teaching these students about Bitcoin will benefit El Salvador. Because El Salvador's president, Nayeb, has taken considerable steps in the afternoon to attract people to the country by making bitcoin transactions free. So Naib Bukele has almost taken all the steps that need to be taken. You can see by following this news.

You know the reason why he was able to make such decision without looking back is because he was not greedy and after the selfish interest of the government only but also after the growth and progress of his citizens and that's the thing most government fail to posses. The moment most government start thinking like this then the better because they can actually have the will power to embark on such a project like actually making and stipulating the idea of bitcoin in the country.

People of El Salvador protested against the adoption of bitcoin. Bitcoin protests in El Salvador against cryptocurrency as legal tender. We can't say El Salvador people were supporting bitcoin adoption without any second thought. The credit goes to President Nayib Bukele, because he is the one who took the decision and he was strong in execution. It is really difficult and he faced everything and slowly started to educate and create awareness among the people. Now people are well aware of it and realise the goodness of adoption. To make things better, bitcoin education is included into the school syllabus. Rest of the countries watch the progress of El Salvador, but none have the courage to take decision as President Nayib Bukele.

Yeah that's true and I aslo believe that with time coming more nation will follow up on this trend but I also feel they have another excuse apart from bitcoin being decentralised and that would be the reason that bitcoin is highly volatile and it may cost them loses, well I don't know but thats is one of my theory too for the this slow and repellent nature of government towards bitcoin but anyways even if it's one of them then its actually a stupid thought because that's same thing the fiat currency does everytime because it's die off and depreciated without the purpose of every getting same value again and if there is nation that I can use to point this particular thing it will be my own country because of the excess printing of fiat our currency has lost all value and cannot even withstand comparison with other fiat which is a typical example of fiat dying off overtime and yet the use  and adoption of bitcoin is still winked at with one eye by our government.

This full acceptance of bitcoin by el Salvador is a proof indeed that bitcoin can actually be used as a legal tender and although it may have it's up and down but there is no currency in world today that hasn't got his flaws but atleast this is big step forward towards the full adoption of bitcoin in the world. Most other countries worldwide actually protest against the use of bitcoin in their countries because of its decentralised nature but the whole purpose of bitcoin was to give financial freedom which is what most government doesn't want for their citizens.

When it comes to the issues of positive developmental steps by countries,  it doesn't necessary have much to do with the population of the country but rather have a lot to do with the system and institutions that implements such projects,  just like in the case of El Salvador Bitcoin adoption movement,  all that have been achieved since the last two year almost that the president implemented the legal status cue for the country,  the agencies in that country and some none governmental organizations have tried everything possible to properly integrate,  educate the citizens of El Salvador about and on the potentials of bitcoin as an alternative.

Since then a lot has changed and the positive results shouldn't be undermined by teaming it as a success based on the total number of El Salvadorans,  even though if the same experiment is carried out in another highly populated country it will still produce the same results if all the mechanism are properly followed.

It's been possible for them due to their small administration. This will be much harder for a big country. What they are doing is a great milestone for them because they dare to accept something that is not very popular all over the world. Some countries accept bitcoin as an asset class not because they think this is the future but because they want to regulate this sector for taxation. El Salvador can be an example for the rest of the world if their initiative works successfully. Any setback from them will have a negative impact on the whole industry.

Yes, the reason is that they didn't really know some of the advantage of BTC that made their government to banned BTC from their country so that people will not blame the government of introduce what will destroy their economy in the country.

I believe , everybody in the El Salvador country aware of BTC and cryptocurrency because, their government has made it legal tender for business women and men to use to transact their goods and services, which it has created enough investments in their land like international and local exchange in the country. El Salvador president even introduced some school where people can learn anything concerning BTC and cryptocurrency to help the youth to grow speedily in the area of wealth.

After El Salvador succeeded in changing the minds of their people towards Bitcoin by legalizing Bitcoin for legal payments there, now El Salvador has also got more cooperation partners in terms of building better technology as reported by elsalvadorinenglish.com in two days ago that Samsung Latin America President, Hong Sang Jo, had met with President Bukele and members of the country's private sector to discuss a potential partnership. The meeting was held to explore the possibility of forming an alliance aimed at strengthening El Salvador's technological capabilities.

This means that now more and more well-known companies and large companies are willing to collaborate with the El Salvador state for more important progress in better aspects such as the technology sector. So this can also make the people of El Salvador more friendly to the technological developments that will be developed there.

The people did not kicked about it when it was newly introduced, you may say that only few people have the idea and understanding of what bitcoin is then, those informations we heard were orchestrated against El-Savador and bitcoin adoption in general which the president refused to acknowledge, you can see more on that starting from the threats coming from the IMF then.


And these few today have turned to a magnanimous population that join in the support towards bitcoin adoption as legal tender, just as the world also warmly accept bitcoin use in the economy as a means of payment and a valuable asset of an investment that can serve them the profitability they deserve.

The only good thing here in El Salvador is that this is a living testimony about Bitcoin, because at first they did not think well of it; they were very negative about it before. El Salvador even declared a ban on Bitcoin, but they eventually reversed it.

Then, later, El Salvador declared again but not to ban Bitcoin, instead a declaration that they made Bitcoin legal tender in their country, and most of them are Bitcoin enthusiasts, and it seems that only a few are not yet aware of cryptocurrency.

As El Salvador changes times, they are converting every sector of the country to Bitcoin. They have not only adopted Bitcoin in their country but they are planning to add this Bitcoin to various government sectors of their country and are implementing them in stages. Common in some places they use bitcoin but sometime I hear they will add bitcoin to textbooks in their country. If a country's government is planning to add bitcoin to textbooks, then they are probably planning on bitcoin maximum and trying to implement them in phases. Now they are trying to implement their plans, but when their plans are successful, people will talk more positively about this country, especially the president of the country will applaud a lot.