Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 50. (Read 38982 times)

El Salvador has an insurmountable first mover advantage as #Bitcoin    Country

Few others will be able to compete and so will turn, in desperation, to the 25,000 altcoins but those will only leave ruin behind . . . as the Mayor of Miami discovered

Read: statescoop.com/crypto-bounce-…

https://twitter.com/stacyherbert/status/1677139267364048897?t=fq6Mwes34Lk6UT8JpbiPoA&s=19

Max Kaiser is having lunch with a prominent movie director at a restaurant in San Salvador.
It is very likely that the idea of making an interesting blockbuster movie on Vulcano is being taken.



See tweet: https://twitter.com/stacyherbert/status/1677038354708193283?s=19

You seem to be describing Bukele's approach to bitcoin as if it were an all or nothing strategy - like a last swing for the homerun - and that does not seem to be the case...  Sure, El Salvador has given a lot of emphasis to bitcoin, yet it did not get rid of the dollar - and it also did not get rid of it's own native currency, since that had already largely taken place 20 years previously.

We might be able to concede that Bukele was coming into a situation in which the country had been driven into some bad circumstances, infrastructurally and also what seems to have been the wide-spread crime issues (and even gangs shaking down businesses and contributing to lack of confidence for any business to want to invest into El Salvador), so there are ways in which it could be characterized that Bukele is working on ways to fix the infrastructure and to stop the getting poor more quickly aspects of the prior country situation... so in that regard, bootstrapping bitcoin is likely a good thing - but there is infrastructure building that seems to be happening too.. rather than merely blindly hoping/praying that bitcoin saves El Salvador from its previous situation.


This is a more fair characterization.


Yeah.. but that is not what seems to be happening.  We do not have exact transparency into El Salvador's ways of holding BTC, yet it seems that the amount of treasuries in bitcoin is pretty damned small, relatively speaking.

There are likely ways that we could attempt to measure the many ways that El Salvador is investing into bitcoin, but if we were ONLY to look at treasuries, bitcoin is a very small part - and maybe we do need to look at a variety of ways that El Salvador is investing into bitcoin - but even El Salvador's attempt to ween itself from various debts that it holds in order to create bitcoin related debt rather than relying on various outside dollar banks such as the IMF and the world bank, so there are ways that critics like to characterize El Salvador as if it were going all in bitcoin (which is not the case), even though it seems to be fair to say that El Salvador is surely aimed at engaging in policies and investments to attempt to take back aspects of its sovereignty (through ongoing bitcoin investments and emphasis)  to free itself from what it has identified as outside influences that have historically been sucking the sovereignty out of El Salvador and like countries.. and there is no reason to believe that the outside influences of those international banking institutions are striving  change their behaviors and to allow El Salvador to really exist as a sovereign.

So many countries, sovereign in name ONLY, and El Salvador is employing a bit of a dance in terms of it's saying that it is exercising its sovereignty when it is choosing bitcoin and developing around bitcoin as a parallel system.


So what?  The mere fact that bitcoin is volatile likely means that there are needs to manage position size rather than to refrain from taking a position in it.


You seem to NOT really understand what El Salvador is doing, and you seem to think that there is a need for El Salvador to fuck around with trying to time the BTC market with various short term happenings (that may or may not end up happening)..

Yeah, El Salvador likely screwed up a bit in its arrogance in the way that it was investing into bitcoin in the earlier days and suggesting that it was betting on bitcoin going to $100k in 2021 or whatever might have had been their way of framing their entrance into bitcoin, yet it seems that El Salvador had invested into bitcoin in such a way that it has been showing that it is into bitcoin in the long term rather than fucking around with various short term bitcoin happenings, and sure maybe an ETF will happen and maybe it will not, but who cares?  Bitcoin is going to survive in either case, and even likely be a good long term investment, whether or not various spot ETFs are approved in the USA (that will likely pump BTC bags in the short term).

I liken the country of El Salvador to a person whose only exit is to invest in Bitcoin and who dreams of becoming rich. El Salvador is a small country and its livelihoods are limited. It's a poor country. The country's economic wheels are working difficult as a result of natural disasters and crises. President Bukele is someone who makes sacrifices for his country and the revolution he made with Bitcoin is a proud situation for his country.

Making Bitcoin a Central Bank reserve carries some dangers. Namely Bitcoin is a volatile investment vehicle and has no stabilization. Therefore it is risky at this stage for Bitcoin to determine the fate of a country. I would consider it normal for Bukele to add Btc to its reserves in case of Bitcoin's Spot ETF approval but right now this is risky. President Bukele will write his name in history as a revolutionary in the following years.

It is a well known fact. The World Bank's publication about El Salvador says that "two-thirds of El Salvador’s adult population lacks access to basic financial services". El Salvador actively develops in the field of high technologies now thanks to its president, but it is still far from a fully developed country. And if to keep in mind that about a half of Salvadorians have a lack of Internet access those things like Chivo Wallet make citizens involvement in modern finance easier. If not bitcoin adoption they'd hardly get such a tool any soon.

Do you have a source link to this, I don't believe they have upto that percentage not making use of the bank, as far as i know in this regards, many of us into bitcoin would have one or two banks we make use of previously before bitcoin was introduced and after it was been introduced, we still maintain using them but not having our entire financial asset in them.


You don't need to make a repitition of this since you just see thesame image has already been talked about before yours is coming up, moreover there's nothing new in addition added to the news on this aspect, please let's try to get more engaging words with new ideas and avoid repitition of what gas already been discussed.

Students in El Salvador attend the country’s first #Bitcoin BTC development program

The future is bright for 🇸🇻


https://twitter.com/BitcoinMagazine/status/1676265047608393728?t=71pa2-_a9izNpFYSIb27jA&s=19

Empowering students with knowledge in cryptocurrency is key to preparing them for the future.  What is already being taught Bitcoin in El Salvador is truly incredible.
Students in El Salvador attend the country’s first Bitcoin    development program
The future is bright for 🇸🇻
Source

And the adoption has made so many of their local products became popular all over the world, because they made a good choice to allow foreigners to use Bitcoin as a legal tender in any kind of transaction they want to make within the country. With time Bitcoin ATM machine will be everywhere in the whole world, because those that tested the Bitcoin machine before gave a good comments that is making other countries to show more interest on it. I believe El Salvador government has done well for this freedom the citizens are experiencing from the country over some years now to use Bitcoin freely and also use it to improve financially in the country.

El Salvador will get a good return on its investment. It's an excellent move for a government to officially buy bitcoin. We are talking about the development of Bitcoin and its reaching people. Here we have a living example of El Salvador.

When another country announces that it has officially purchased Bitcoin, other countries will do the same, one after the other. This cannot be prevented. I don't know how long, but I think we'll see this thing I'm talking about.

It takes a lot of charisma and boldness for the president of a country to publicly endorse and speak up for the use of bitcoin as legal tender among his people. This demonstrates how passionate the president of El Salvador is about bitcoin.

Since 70% of the population of El Salvador doesn't have a bank account and is also poor, the president has seen and understood the value of bitcoin to the nation and its economy, and he considered making it legal tender. 

In the long run, this admirable act by the president of El Salvador will open the door for a financial breakthrough for the country's people. Congratulations to them

1. CUBO+ students and dev teams ...




2. Some of honourable teachers ( Adam Gibson, jimmy song)



3. 150 applications submitted but with online or face to face interview 21 students were selected. 21 students would have chance to become Lightening Network experts.






4. They have intense high level course in SAN SALVADOR. They already prepared a Bitcoin beach scheduled/Agenda.





5. At the ending of two weeks duration internship course some prestigious organization/companies support CUBO+ which have long impact on Salvadorians students.




Tweet: https://twitter.com/cuboplus/status/1675923585762729995?t=41HnM3rrXvj2rcjkKK4pZQ&s=19

+1 ,update.

It should be noted that it is not the first of its kind and for those who think that $0.5 is little, in any case it is the equivalent of buying a piece of candy: https://i.imgur.com/rGxepHx.jpg

It is not new news, by the way that this same company develops traditional ATMs.

and when viewed from the point of view of Financial Inclusion with the Adoption of Bitcoin there, it indirectly offers the benefits of financial inclusion for those who do not have a bank account or are underbanked and they can easily access financial services via Bitcoin without the need for a traditional bank account.

This is a great discovery for El Salvador. Locally they managed to build a great bitcoin ATM machine. Where they are claiming that they can trade and export bitcoins anywhere in the world through this bitcoin ATM machine. This discovery shows that El Salvador's entire mindset now revolves around Bitcoin only. They are planning one after the other with Bitcoin and are taking various steps to implement that plan including their recently invented ATM machine. El Salvador's first target was to encourage more tourists from their country to visit their country. They have been able to do this meaning that people in their countries are now more interested in traveling than ever before. I believe this country will plan more around Bitcoin. And they will turn their plans into reality.

🇸🇻 El Zonte, a small town in El Salvador, leads the way as a pioneer in embracing Bitcoin. From daily transactions to community initiatives, they showcase the power of Bitcoin adoption at the grassroots level.

Source.

BITCOIN ADOPTION IS CREATING THE PLATFORM FOR LOCAL INNOVATORS TO SHINE



The adoption of Bitcoin in El Salvador is not only attracting foreign startups into the country, but it's a springboard for local brightest minds and innovators to showcase themselves. K1 technology is a local company that produced the first bitcoin machine made in El Salvador. They claimed it is the world's easiest to used Bitcoin ATM machine and they are also exporting it to other countries abroad.

https://youtu.be/HwvKOcA7B3Q

https://twitter.com/realSandySV/status/1674461514235883527?t=BA01w_liiKOdD4DaJAtKVw&s=19

Or maybe we should now begin the listings of fortunes that have come along with the bitcoin adoption in El-Savador ever since it's adoption as legal tender, we may never have time to finish them because they are so many, not even now that investors and miners were seeking for same opportunity with El-Savador to make their establishment there, if you're digital oriented and into bitcoin, where will first comes to your mind to visit if having the opportunity around the world is El-Savador because you understand better what you stand to gain for just a tourist visit.

In October 2022, El Salvador opened our first Bitcoin Embassy in Lugano El Salvador, Lugano Sign Agreement to Help Spread Bitcoin Adoption and Education



Nine months later, we see the results of that relationship as CUBO+ establishes El Salvador as second to none for bitcoin education

@cuboplus & @LuganoPlanB  = Winning

Tweet: https://twitter.com/stacyherbert/status/1675865194063450116?s=19

CIDGallup has reported that El Salvador has been listed as the least corrupt country in the list of least corrupt countries while the world is having a miserable day in corruption. As the most corrupt country, Peru is at the top with a rating of 46%, Colombia is second with a corruption rating point of 42%, Guatemala is third at 39%, El Salvador is at the bottom with a corruption rating point of only 6%.

All is possible because Salvador..a Bitcoin city, Everything is winning in Salvador.