Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 50. (Read 43289 times)

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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.

It can be said that the steps that have been made and carried out by the El Salvador government have gone according to the initial plan so that El Salvador's success in adopting Bitcoin and legalizing Bitcoin within the scope of law and society has been seen throughout the world. So now there are many other countries that are paying attention to El Salvador and even several countries also really want to collaborate with El Salvador in several ways to increase progress within the country.

So I think that other countries could also follow in El Salvador's footsteps in this regard if El Salvador continues to experience progress over time, because the El Salvador government is still quite concerned with the development of the economy, education and tourism in El Salvador.

El Salvador Launches First Bitcoin Mining Pool With New Geothermal Energy.

1. Among these geothermal energy projects is the Lava Pool Energy project, which is being implemented in El Salvador with the support of the companies Balkan Energy and Luxor Technology Corporation.

2. El Salvador is both responsible for launching an initiative that will use renewable geothermal energy and wants to further improve the use of this energy.

3. El Salvador will use the profits generated from Bitcoin mining to provide feedback, working harder to improve the infrastructure of the process.

4. Withdraw crypto money worldwide free of ATM fees, and earn up to 8% percent on every transaction with this free crypto card.  El Salvador is the only country that offers this facility and I have yet to see such a facility in other countries.  By taking this step you will surely achieve success

El Salvador has officially launched the first Bitcoin mining pool, Lava Pool, with the companies Balkano Energy and Luxor Technology Corporation tasked with launching an initiative to promote the company.  And it must be possible to implement it because El Salvador is one of the hardworking countries.  Most of these roles are the highest priority of the President of El Salvador, Nayeb Buquel, and everyone's cooperation will certainly help.


Source Link: https://es.beincrypto.com/el-salvador-lanzan-pool-mineria-bitcoin-energia-geotermica/?utm_source=twitter&utm_medium=text&utm_campaign=news

A slow and deliberate process seems to be playing out, and they do not seem to be rushing matters in regards to various bitcoin programs and seeming to remain focused on bitcoin without getting distracted into shitcoins.

Surely some people might assert that their approach to the gangs concern was a bit rash and harsh, but hopefully many of those lock-ups are getting attention and review in order to figure out the extent to which some of them might be able to be released back into society.. hopefully if there might be some ways to transition some of the guys away from lives of crime and to become productive and contributory members of society.. and surely hopefully they do not necessarily disagree and hopefully people are not getting locked up merely for having certain kinds of tatoos.. ., .. so I would not claim to know enough of the details and there would need to be some study of some of the particulars to make various criticisms if there might be too harsh of measures without any possibilities for redemptions..

From the amount invested by El Salvador into Bitcoin,  I can say that the countrishojldnt depend on that as the means to escaping the financial crisis because Bitcoin investment is not time allocated and should not be taken as a quick solution to financial problem,  but El Salvador Bitcoin adoption will give room for more other development such as in the building of the El Salvador bitcoin city and the establishment of future Bitcoin hubs in El Salvador where the government will establish the first government own Bitcoin mining which is expected to be powered by the volcano power station that is under construction,  so aside from the fact that the level of tourism has increased in El Salvador and recent records show that there have been a high reduction in crime rate and also the citizens are becoming more bitcoin educated at this point which is a good sign that the citizens of El Salvador are beginning to embrace Bitcoin which they're once rejected when the President Nyib Bukele made bitcoin level tender in the country.

El Salvador has been able to reduce violent gang activities because of the fierce crackdown. This led to a reduction in criminal activities in the country. This has increased the rate of tourists in the country because people will always go to safe places. But this crackdown is not without its shortcomings. It has been reported that many innocent people have been wrongfully imprisoned. Many families have complained about the disappearance of family members without any information. Most of them are not given a fair hearing to defend themselves but they are just sent to prison without trial.

As much as we encourage the good works of Nayib Bukele things should be done orderly. We are also expecting that the country will benefit from its investment when the price of Bitcoin goes up. But for now, the country's investment in bitcoin has not yielded much profit. But hopefully in the future other countries will follow the steps of El Salvador due to the impact Bitcoin will have on their economy.

[1] https://www.investing.com/news/cryptocurrency-news/el-salvador-launches-first-bitcoin-mining-pool-as-volcano-energy-partners-with-luxor-3190359

El Salvador continues to make news about their adoption of Bitcoin and this time using Volcano Energy, their mining pool is live.  President Nayib really made the right moves to boost the acceleration of Bitcoin adoption in El Salvador, El Salvadorans should be proud of their president.

The Salvadoran newspaper Diario El Salvador published an article stating that El Salvador has become the safest country in Latin America from 2019 to the present.  The article notes in more detail several stages of the fight against crime in the country and it is clear that this was carried out according to a pre-developed plan.  It is also noted that 95% of the population supports such actions by government authorities to combat crime.
   Of course, considering that this newspaper is a pro-government media outlet, this picture is probably a little embellished, but in any case, the achievements in the fight against crime are colossal.
   In my opinion, there will still be a problem with maintaining such a low crime rate on a permanent basis in the long term.  This is probably even more difficult to do than to reduce the influence of criminal gangs on the population with such rapid and repressive measures, as the authorities of El Salvador did for 4 years.  But let’s hope that another 5 years of Nayib Bukele’s presidential term, who will almost certainly be elected to a second term, will allow his government to consolidate the results of the fight against gangs.  And make the lives of Salvadoran citizens and tourists safer and more comfortably.
By the way, this is very important for all BTC lovers in the world.

Nayib Bukele has made a complete turnaround as they have seen a rapid increase in El Salvador's murders over the past few years. But I see since 2021 only accepting bitcoin after many efforts to present El Salvador as a civilized nation to the whole world its El Salvador has been freed from terrorists. And nowadays almost everyone from kids to adults is in Salbazaar. Institutions are teaching about Bitcoin. All these things have been made possible by Nayib Bukele Dhara, so now Salvador will be considered as the best country in front of the whole world.