El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 56.

Smartvirus

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Quote from: EarnOnVictor on August 22, 2023, 02:07:45 AM

El Salvador is the first country to make Bitcoin a legal tender while Binance is the largest cryptocurrency exchange in the world. For Binance to now be the first to earn the full operating licence of El Salvador is never strange but a good relationship as it has all it takes. Even the country might be the initiator of this judging by the status of Binance and the love of Bitcoin by the country. By this, they could possibly get everything they want from an exchange and crypto transactions easily and it will bring about more crypto businesses within and outside the country. This will also cause more exchanges to register and be compelled to get a full licence.

Personally, I view exchanges just like banks, a fintech kind of bank, it's a win-win affair for the country and Binance, and it's another pace-setting because the world will be watching their relationship with Binance and it could be a litmus test for other countries over time.

I just wanted to dive in the space to see just how El-Salvador has handled things after they did trend a long time ago but, I don’t think I got the update I hoped to see here still.

The licensing of Binance in a partnership form of operation or perhaps am not using the best world to describe what’s the deal with El-Salvador and Binance, it always leaves me with mixed feelings as we know, this is a centralized system within a centralized system in the cryptospace and with government of nations looking out for crypto regulations and an insight into how citizens make use of cryptocurrency, this provides for them a window of opportunity although, exchange policies is there to protect user data but, there could be something done to benefit both sides at the detriment of a concerned about transaction and user. Not really that this can happen but, it’s often a thought on my mind of a scenario.

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Did you also read the recent news about the president teaching the young ones Bitcoin. This is kind of news I like hearing to be honest I wish other regions can adopt that. Although, there's also a builders program organized by some exchanges that wants to teach youth in some certain regions things about crypto in general and bitcoin too.

Someday, somehow. Bitcoin will be well known

348Judah

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Quote from: EarnOnVictor on August 22, 2023, 02:07:45 AM

Quote from: 348Judah on August 17, 2023, 03:04:33 PM

Quote from: livingfree on August 16, 2023, 01:45:09 PM

Not surprising to see this news: Binance Becomes the First Fully Licensed Crypto Exchange in El Salvador

Why is it not surprising? Isn't it too to bring more continuity to El-Savador bitcoin adoption, have you considered the gambler economy aspect of it whereby it brings in more avenue to enable the people have a platform to make use of bitcoin conveniently in making payments and performing transactions, it's not about Binance being a centralized exchange now but the advantages that comes in together with their decision to establish their exchange in El-Savador, many countries could not have such opportunity but it's an excitement on itself seing this coming to El-Savador.

I guess you misunderstood the OP, and strangely, that was my first reaction the first time I read the headline. From what I understand, the OP is progressive just like me, I wasn't surprised about the news the way many were, and the reason is that El Salvador is the first country to make Bitcoin a legal tender while Binance is the largest cryptocurrency exchange in the world. For Binance to now be the first to earn the full operating licence of El Salvador is never strange but a good relationship as it has all it takes. Even the country might be the initiator of this judging by the status of Binance and the love of Bitcoin by the country. By this, they could possibly get everything they want from an exchange and crypto transactions easily and it will bring about more crypto businesses within and outside the country. This will also cause more exchanges to register and be compelled to get a full licence.

Personally, I view exchanges just like banks, a fintech kind of bank, it's a win-win affair for the country and Binance, and it's another pace-setting because the world will be watching their relationship with Binance and it could be a litmus test for other countries over time.

All well said and I think we all are saying almost same thing without much difference here, El-Savador is already a bitcoin household name in this regard and Binance has it international reputation and standard, but in this context we should consider less of Binance being an exchange here, El-Savador is the main focal point of discussion in which it bitcoin adoption has attrated so many opportunities all over the globe for it development, i believe many countries would have also make attempts inviting Binance to site their branch in their country which offers got turned down due to low crypto related activities and adoption, with bitcoin adoption in El-Savador, it has become a business hub and entrepreneurship center, where learning opportunity is concentrated and achieved.

retreat

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Quote from: livingfree on August 16, 2023, 01:45:09 PM

Not surprising to see this news: Binance Becomes the First Fully Licensed Crypto Exchange in El Salvador

While the US and some countries have to be dealt by Binance, they've been the first exchange that receives full license from the El Salvador government.

They just keep on doing good as they progress from time to time and I see this news as something and attracts more exchanges to go on them have it licensed.

It was great for Binance to be able to get a fully licensed exchange in El Salvador, given that Binance is an exchange with great credibility and a lot of features they have to offer crypto users in the country. Hopefully, Binance's entry into the El Salvador market will certainly be a breath of fresh air for the crypto market there, and it is possible that Binance will be able to bring good support not only to the crypto market, but also to the El Salvador economy in general.

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Quote from: Litzki1990 on August 18, 2023, 11:08:09 PM

The economic condition of El Salvador cannot be said to be so bad and their economic condition cannot be said to be very advanced, that is, they are in the middle level economically, but they have educational qualifications, so it will be easy for them to adapt to any new technology. 92 percent plus people are educated, that is, if the government of El Salvador introduces any new technology to them, I believe that the people of El Salvador will understand the new technology very easily. Taking advantage of the high educational qualification rate in their country, the government of El Salvador adopted Bitcoin as a legal currency in their country, initially people opposed this decision, but later people welcomed this decision of the government of El Salvador. Now many are expecting a big change in El Salvador's economic situation through Bitcoin.

It is only natural that there will be obstacles in every different concern. When Nayib Bukele planned to adopt Bitcoin in his country to improve the economic condition of his country, his plan was taken negatively by many people and many economists or media of his country published various negative news to stop his initiative, faced so much criticism and obstacles that he adopted Bitcoin in his country. The initiative has been welcomed by the people of their country ever since Bitcoin was legalized in their country. Nayib Bukele's initiative is today considered a successful concern by those who opposed Bitcoin as legal tender. Nayib Bukele is much younger than the presidents of other countries so maybe he has adopted this heterogeneous concern to change the economic condition of their country.

EarnOnVictor

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Quote from: 348Judah on August 17, 2023, 03:04:33 PM

Quote from: livingfree on August 16, 2023, 01:45:09 PM

Not surprising to see this news: Binance Becomes the First Fully Licensed Crypto Exchange in El Salvador

Why is it not surprising? Isn't it too to bring more continuity to El-Savador bitcoin adoption, have you considered the gambler economy aspect of it whereby it brings in more avenue to enable the people have a platform to make use of bitcoin conveniently in making payments and performing transactions, it's not about Binance being a centralized exchange now but the advantages that comes in together with their decision to establish their exchange in El-Savador, many countries could not have such opportunity but it's an excitement on itself seing this coming to El-Savador.

I guess you misunderstood the OP, and strangely, that was my first reaction the first time I read the headline. From what I understand, the OP is progressive just like me, I wasn't surprised about the news the way many were, and the reason is that El Salvador is the first country to make Bitcoin a legal tender while Binance is the largest cryptocurrency exchange in the world. For Binance to now be the first to earn the full operating licence of El Salvador is never strange but a good relationship as it has all it takes. Even the country might be the initiator of this judging by the status of Binance and the love of Bitcoin by the country. By this, they could possibly get everything they want from an exchange and crypto transactions easily and it will bring about more crypto businesses within and outside the country. This will also cause more exchanges to register and be compelled to get a full licence.

Personally, I view exchanges just like banks, a fintech kind of bank, it's a win-win affair for the country and Binance, and it's another pace-setting because the world will be watching their relationship with Binance and it could be a litmus test for other countries over time.

jossiel

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Quote from: 348Judah on August 21, 2023, 01:25:39 PM

Quote from: Litzki1990 on August 18, 2023, 11:08:09 PM

but they have educational qualifications, so it will be easy for them to adapt to any new technology. 92 percent plus people are educated

Aside being educated, is there nothing to talk about the bitcoin education as well in El-Savador, in case you're forgetting, bitcoin education is part of their major success to count on.

That's a huge percentage for me, honestly.

Because before there were people expressing how disappointed they were when the Bukele government have announced the adoption of Bitcoin as a legal tender and they don't know how it's going to go and where to start.

But to say that there's been 92 percent of people there that have been educated, that's quick stats for them as they will be forced to know that sides of using Bitcoin as a legal tender.

The next thing is from that percentage, how many will get to used and understand Bitcoin even the basics of it?

348Judah

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Quote from: Litzki1990 on August 18, 2023, 11:08:09 PM

The economic condition of El Salvador cannot be said to be so bad and their economic condition cannot be said to be very advanced, that is, they are in the middle level economically

Why can't it be said that they have advanced over the years, was it were they started from is still were they are today, have there not being tremendous changes in El-Savador since bitcoin adoption, if we are going by what you said, it only means no progress at all because there's nothing you're bringing out here to serve as their progress through bitcoin adoption and they can't just be at the fence, it's either they are progressing or loosing, but it is clear to us that if you've been following up the thread, you would have enough to recount on bitcoin success with El-Savador.

Quote from: Litzki1990 on August 18, 2023, 11:08:09 PM

but they have educational qualifications, so it will be easy for them to adapt to any new technology. 92 percent plus people are educated

Aside being educated, is there nothing to talk about the bitcoin education as well in El-Savador, in case you're forgetting, bitcoin education is part of their major success to count on.

Litzki1990

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Quote from: Sim_card on August 18, 2023, 10:35:06 PM

Quote from: wallet4bitcoin on August 17, 2023, 02:06:54 AM

Quote from: delfastTions on August 17, 2023, 01:54:46 AM

El Salvador’s Bitcoiners teach 12-year-olds how to send sats

Over 25,000 students in El Salvador have learned about Bitcoin in the classroom.
El Salvadorian school kids as young as 12 years old are being orange-pilled — taught to send their first BTC.
Bitcoin Beach community leader Roman Martínez told Cointelegraph that he believes early-age education on Bitcoin, money and the economy may lay out a framework for many of the underprivileged kids he teaches to have a better shot at life.

Martínez explained Bitcoin Beach runs after-school programs to help set kids up to use Bitcoin.
~~~
“If they know English, have computer skills, know about Bitcoin and know about marketing, they can work remotely for anyone around the world,” he explained. “This is a big door that is open now for everyone.”

In my opinion, a great initiative is to teach even small children a little to pay sats, for example, for a pie in a school cafeteria or for a candy.

I consider this "the future" of financial evolution. According to the book "Zero to One" this is the "vertical intensive progress" which can be translated to technological innovation which creates a pathway of innovation for the future.

Many will not understand, but like the Chinese are already taking lead on the technologcal space, same way it will be El Salvador in the near future. We all have a future by the way, but that of El Salvadorians seems to be closer in terms of finance.

El Salvador might be a poor country but I must say that they have seen the future of bitcoin and have decided to spread the knowledge of bitcoin by adopting it in their country to their citizens. They are even doing what most big countries are finding difficult to implement. Imagine this little kids of 12 years will soon be grounded on bitcoin knowledge at their little age. This something that they have taken advantage of because they so much believe in bitcoin and they know that it will be the future gold in the long run

The economic condition of El Salvador cannot be said to be so bad and their economic condition cannot be said to be very advanced, that is, they are in the middle level economically, but they have educational qualifications, so it will be easy for them to adapt to any new technology. 92 percent plus people are educated, that is, if the government of El Salvador introduces any new technology to them, I believe that the people of El Salvador will understand the new technology very easily. Taking advantage of the high educational qualification rate in their country, the government of El Salvador adopted Bitcoin as a legal currency in their country, initially people opposed this decision, but later people welcomed this decision of the government of El Salvador. Now many are expecting a big change in El Salvador's economic situation through Bitcoin.

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Quote from: wallet4bitcoin on August 17, 2023, 02:06:54 AM

Quote from: delfastTions on August 17, 2023, 01:54:46 AM

El Salvador’s Bitcoiners teach 12-year-olds how to send sats

Over 25,000 students in El Salvador have learned about Bitcoin in the classroom.
El Salvadorian school kids as young as 12 years old are being orange-pilled — taught to send their first BTC.
Bitcoin Beach community leader Roman Martínez told Cointelegraph that he believes early-age education on Bitcoin, money and the economy may lay out a framework for many of the underprivileged kids he teaches to have a better shot at life.

Martínez explained Bitcoin Beach runs after-school programs to help set kids up to use Bitcoin.
~~~
“If they know English, have computer skills, know about Bitcoin and know about marketing, they can work remotely for anyone around the world,” he explained. “This is a big door that is open now for everyone.”

In my opinion, a great initiative is to teach even small children a little to pay sats, for example, for a pie in a school cafeteria or for a candy.

I consider this "the future" of financial evolution. According to the book "Zero to One" this is the "vertical intensive progress" which can be translated to technological innovation which creates a pathway of innovation for the future.

Many will not understand, but like the Chinese are already taking lead on the technologcal space, same way it will be El Salvador in the near future. We all have a future by the way, but that of El Salvadorians seems to be closer in terms of finance.

El Salvador might be a poor country but I must say that they have seen the future of bitcoin and have decided to spread the knowledge of bitcoin by adopting it in their country to their citizens. They are even doing what most big countries are finding difficult to implement. Imagine this little kids of 12 years will soon be grounded on bitcoin knowledge at their little age. This something that they have taken advantage of because they so much believe in bitcoin and they know that it will be the future gold in the long run

348Judah

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Quote from: livingfree on August 16, 2023, 01:45:09 PM

Not surprising to see this news: Binance Becomes the First Fully Licensed Crypto Exchange in El Salvador

Why is it not surprising? Isn't it too to bring more continuity to El-Savador bitcoin adoption, have you considered the gambler economy aspect of it whereby it brings in more avenue to enable the people have a platform to make use of bitcoin conveniently in making payments and performing transactions, it's not about Binance being a centralized exchange now but the advantages that comes in together with their decision to establish their exchange in El-Savador, many countries could not have such opportunity but it's an excitement on itself seing this coming to El-Savador.

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Quote from: delfastTions on August 17, 2023, 01:54:46 AM

El Salvador’s Bitcoiners teach 12-year-olds how to send sats

Over 25,000 students in El Salvador have learned about Bitcoin in the classroom.
El Salvadorian school kids as young as 12 years old are being orange-pilled — taught to send their first BTC.
Bitcoin Beach community leader Roman Martínez told Cointelegraph that he believes early-age education on Bitcoin, money and the economy may lay out a framework for many of the underprivileged kids he teaches to have a better shot at life.

Martínez explained Bitcoin Beach runs after-school programs to help set kids up to use Bitcoin.
~~~
“If they know English, have computer skills, know about Bitcoin and know about marketing, they can work remotely for anyone around the world,” he explained. “This is a big door that is open now for everyone.”

In my opinion, a great initiative is to teach even small children a little to pay sats, for example, for a pie in a school cafeteria or for a candy.

I consider this "the future" of financial evolution. According to the book "Zero to One" this is the "vertical intensive progress" which can be translated to technological innovation which creates a pathway of innovation for the future.

Many will not understand, but like the Chinese are already taking lead on the technologcal space, same way it will be El Salvador in the near future. We all have a future by the way, but that of El Salvadorians seems to be closer in terms of finance.

delfastTions

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El Salvador’s Bitcoiners teach 12-year-olds how to send sats

Over 25,000 students in El Salvador have learned about Bitcoin in the classroom.
El Salvadorian school kids as young as 12 years old are being orange-pilled — taught to send their first BTC.
Bitcoin Beach community leader Roman Martínez told Cointelegraph that he believes early-age education on Bitcoin, money and the economy may lay out a framework for many of the underprivileged kids he teaches to have a better shot at life.

Martínez explained Bitcoin Beach runs after-school programs to help set kids up to use Bitcoin.
~~~
“If they know English, have computer skills, know about Bitcoin and know about marketing, they can work remotely for anyone around the world,” he explained. “This is a big door that is open now for everyone.”

In my opinion, a great initiative is to teach even small children a little to pay sats, for example, for a pie in a school cafeteria or for a candy.

livingfree

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Not surprising to see this news: Binance Becomes the First Fully Licensed Crypto Exchange in El Salvador

While the US and some countries have to be dealt by Binance, they've been the first exchange that receives full license from the El Salvador government.

They just keep on doing good as they progress from time to time and I see this news as something and attracts more exchanges to go on them have it licensed.

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Quote from: Popkon6 on August 16, 2023, 04:43:42 AM

El Salvador's government, Nayib Bukele, has scared many on Wall Street since he accepted Bitcoin. But at present El Salvador's bond yields 70%. These successes are achieved only based on the strategy and intelligence of the budding government Nayib Bukele. And many other researchers help him in different aspects he got the most success per bond which proved to be more than 70%.

Courage based on the ability to read opportunities and be willing to involve experts to perfect the plan before it becomes action. That is the figure of the president of El Salvador.
The story of Nayib Bukele in all things together with bitcoin that has been created and is being created to organize the economy of the country he leads, deserves to be documented into a big screen film to be shown in theaters.

Approximately the title of the film, Young Leaders who are underestimated because of the great desire to achieve progress.
Or am I overdoing it.

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Quote from: 2Pizza410000BTC on August 15, 2023, 06:20:13 PM

El Salvador President Nayib Bukele scared off Wall Street by embracing Bitcoin. Two years later, the bond rally he’s overseeing is proving too lucrative to resist https://t.co/KMcR6SciVq

Source: https://www.bloomberg.com/news/articles/2023-08-15/bitcoin-touting-bukele-s-bond-rally-draws-jpmorgan-eaton-vance?utm_source=website&utm_medium=share&utm_campaign=copy

El Salvador's government, Nayib Bukele, has scared many on Wall Street since he accepted Bitcoin. But at present El Salvador's bond yields 70%. These successes are achieved only based on the strategy and intelligence of the budding government Nayib Bukele. And many other researchers help him in different aspects he got the most success per bond which proved to be more than 70%.

Nayib Bukele continued to worry about his obsession with Bitcoin being accepted as legal tender in 2021. Nayib Bukele eased fears of worst-case scenario in the bond market with two debt buybacks. An International Monetary Fund veteran has signed on as an adviser. Since then, more than $400 million in El Salvador's bonds have been redeemed. Today, El Salvador stands tall in the eyes of the world as one of the most successful and happiest countries in the world.

Source link

2Pizza410000BTC

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El Salvador President Nayib Bukele scared off Wall Street by embracing Bitcoin. Two years later, the bond rally he’s overseeing is proving too lucrative to resist https://t.co/KMcR6SciVq

Source: https://www.bloomberg.com/news/articles/2023-08-15/bitcoin-touting-bukele-s-bond-rally-draws-jpmorgan-eaton-vance?utm_source=website&utm_medium=share&utm_campaign=copy

FinePoine0

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Some images of the country of El Salvador are shown through this video.

Video link: https://youtu.be/w6G0K1rD3lg

Investments abroad in 2023 El Salvador has invested $142 billion according to BCR research. The country's improved journey and risk-taking encourages investors from more countries as there are a lot of investments that are risk-taking ventures. The country of El Salvador will gradually improve.

348Judah

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Quote from: romero121 on August 13, 2023, 06:21:56 PM

Quote from: Popkon6 on August 09, 2023, 12:20:57 PM

Binance Becomes the First Fully Licensed Crypto Exchange in El Salvador

The exchange has been granted both a Bitcoin Services Provider license and the first non-provisional Digital Assets Services Provider license, allowing it to offer tailor-made products and services in the country.

Source link: https://www.binance.com/en/blog/ecosystem/binance-becomes-the-first-fully-licensed-crypto-exchange-in-el-salvador-348306456147004721

This Milestone has gained a lot of space in the global market which is a step forward since the El Salvador license was obtained. And has approval in 18 countries around the world.

To me it looks like a great move. Some had mentioned that the usage of exchange were against the objective of Satoshi. Having a middleman is wrong, the same had been productive when people aren't good enough the make use of the choice available. Binance as the leader of cryptocurrency exchange used to create good awareness and the same could make the people of El Salvador learn more about Bitcoin. Already different educational programs were running within the country and now the presence of Binance will be an added support for them.

Earlier Binance did a Africa tour to promote bitcoin, something like that within El Salvador could create awareness and attract more people towards bitcoin usage.

Here's the idealogy from how i sensed it, having an exchange is not something that's bad, i see it as an avenue that will help the people with the use of bitcoin, also make an exchange of it to fiat where necessary for them to transact business locally, some as well might be interested in trading and also in the use of an exchange in getting the bitcoin current market price, which may serve as a reference for them to engage making bitcoin transactions and knowing the precise market rate accurately, there are other opportunities we may see with having an exchanges which Binance may bring to the El-Savadorans like job opportunities and capacity development, this does not stop the people fro having their personal bitcoin wallet aside the one used on an exchange, some can make use of cold storages like electrum wallet, hardware wallet or even make use of bitcoincore software client to run a full node, everything for the success of bitcoin adoption in El-Savador.

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Quote from: Popkon6 on August 09, 2023, 12:20:57 PM

Binance Becomes the First Fully Licensed Crypto Exchange in El Salvador

The exchange has been granted both a Bitcoin Services Provider license and the first non-provisional Digital Assets Services Provider license, allowing it to offer tailor-made products and services in the country.

Source link: https://www.binance.com/en/blog/ecosystem/binance-becomes-the-first-fully-licensed-crypto-exchange-in-el-salvador-348306456147004721

This Milestone has gained a lot of space in the global market which is a step forward since the El Salvador license was obtained. And has approval in 18 countries around the world.

To me it looks like a great move. Some had mentioned that the usage of exchange were against the objective of Satoshi. Having a middleman is wrong, the same had been productive when people aren't good enough the make use of the choice available. Binance as the leader of cryptocurrency exchange used to create good awareness and the same could make the people of El Salvador learn more about Bitcoin. Already different educational programs were running within the country and now the presence of Binance will be an added support for them.

Earlier Binance did a Africa tour to promote bitcoin, something like that within El Salvador could create awareness and attract more people towards bitcoin usage.

Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 56. (Read 43289 times)