Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 57. (Read 34278 times)

Truth be told, President Nayib Bukele have done well in the area of bitcoin promotion and awareness within that country with his initiative to ensure financial inclusion of El Savadorians who have being at the centre of discussion since the El Salvador Bitcoin adoption on October 21st 2021 his consistent drive to promote Bitcoin has been the centre point of El Salvador Bitcoin development and increase in the adoption of bitcoin among El Salvador citizens.

Seeing the various promotional materials and other projects that are supporting the Bitcoin adoption and it usage within El Salvador and the transport sector have become one of the sector of El Salvador economy that is pushing the visibility pf Bitcoin to the public with the various Bitcoin logos on most taxis and buses within El Salvador.

From this media, I learned that new products are often being produced in El Salvador. Bitcoin has been the talk of the town since it gained massive popularity in El Salvador, which is producing a variety of high-speed cars to attract people from all over the country.
And El Salvador is cleaning up the city nicely because Nayib Bukele has taken various measures to attract tourists. I respect all these activities of Nayib-Bukele. This is the only country in the world that has been recognized as a tax-free country after legalizing Bitcoin. And tourists from different countries travel to El Salvador on the rise. About 30% of people at home are ready to travel to El Salvador.

After I read the news about the El Salvador government granting Bitfinex Securities the needed license to operate in El Salvador. What came to mind is that is country like the US, China, etc. are not careful with their negative stance against Bitcoin El Salvador may be the most respected country for innovative technology and cryptocurrency.

In addition to this as a step forward that has been successfully carried out by the government of El Salvador in recent years, the government of El Salvador is also still trying to eradicate the gang problem that exists there in order not to disrupt adoption which is already running better. And Nayib Bukele also said that in his tweets in the past twelve hours where El Salvador's security achievements are unprecedented in the history of modern mankind.

In addition, El Salvador's President Nayib Bukele asked the country's congress Wednesday to extend the emergency decree to resume the crackdown on gangs, which are hugely popular among El Salvadorans. Congress has voted to renew emergency powers a dozen times, bringing the crackdown into its second year. Source: apnews.com

This opinion is good for those of us who support the steps taken by Nayib Bukele. Maybe those who reject Bukele's economic concept think that this decision is very risky.
If taxes are no longer burdensome and investors can get several other conveniences, then I feel it will not be difficult for El Salvador to go far with this CBI concept.

I want to quote here what is CBI which I took from bitcoinmagazine. The CBI program allows capitalism to be applied to government services.^[1]

More here.

El Salvador imposes a lot of oversight on Bitcoin. And CBI is trying to bring home the Citizenship by Investment program for investment. 

Under the leadership of President Nayib Bukele, the decision to create legal tender in Bitcoin was made almost two years ago only to increase the economic capital of their country.  But many experts say El Salvador could be taking too many economic risks to launch the program. 
But launching such a large program must take risks.  If they can complete this program successfully then the economy of their country will change a lot.

Undoubtedly, the purpose of education is not to get a job.  The main purpose of acquiring education is to gain knowledge about the whole subject. But there is no end to gaining knowledge. As long as you live in the world, you will learn from the world. And you don't just sit and get education, after getting education, you have to distribute your education among all of you so that through you 10 more people can contribute to the country by getting educated in higher education.
I don't understand what you mean by high unemployment rate. If you know enough about El Salvador then you should know that El Salvador has an unemployment rate of only 6.70 percent. That means nearly seven out of every 100 people are unemployed. An unemployment rate of only 6 percent cannot be considered a high unemployment rate. It will not be bad if the 6% who are unemployed try to do something themselves and contribute to the prosperity of the country instead of chasing jobs.

According to the World Bank, since their country has an education rate of about 90%, considering that 90% unemployment rate of 6% means that there are four percent of educated people, if those four percent of educated people create their own employment, it will be much better than working.

Education is key in every developing society whether you are working with it or not, the main goal of education is not just to work but the enlighten us on the happenings in out environment, Most people go to school just to get educated bit have no intention to work for anyone after they finish schooling, Education has a way of impacting the behaviour of people living in a particular environment because there are things an educated man will find it difficult to do but a man that's not educated will do out of ignorance,
El Salvador is a country with high unemployment rate and we all know that unemployment is a major cause of Poverty in a society so if El Salvador make bitcoin a lega tender then we can say they have just moved a step out of poverty and we will see that over the years.

There has been a lot of excitement and enthusiasm over Bitfinex Securities' license acquisition from the country of El Salvador. From now on Bitfinex Securities can legally offer its services to customers in El Salvador. Which has set another example to the whole world. El Salvador has also begun to have a positive impact in the cryptocurrency space as well. Interestingly, El Salvador has already established a framework for issuing bitcoin-backed bonds, and more importantly, they have waived taxes on all technological advances to attract businesses and investors to the digital asset, it is obviously a landmark move. I think El Salvador is making significant contributions to serve as a global hub for crypto. The negative comments of some countries about them and the adverse attitude of the IMF did not stop them. El Salvador is the first country to embrace blockchain technology and cryptocurrency. Such exemplary actions by them will increase people's interest in digital currency in future.

Getting a job is not the main goal of an education, even though a good education will make it easier for someone to get into a job. But according to me personally the main goal of education is to make humans more controlled, so that they have a good attitude, so that they are broad-minded, in essence, so that humans have good and intelligent character.

When it comes to work, of course everyone has to work, so they can make ends meet, so that their survival is more comfortable and safe. Those who are educated or those who are not, of course, all of them need money (which is generated through work).

In El Salvador the unemployment rate is very high, but the majority of people are educated, the problem is not in their education, but the problem lies in the lack of jobs. This factor causes a lot of unemployment. So actually it's not a question of education or not, but a problem of whether or not there are jobs.

And I'm sure, if there are a lot of jobs in a country, it will make the country free from the large number of unemployed, with this for sure, whether those who have formal education or not, it will definitely make it easier when looking for work. Because from my experience, many people work but not in their field (school major), with this it can be concluded that the world of work can be carried out by anyone, whether they have formal education or not, indeed those who have formal education maybe it will be easier to run it, because at least those who have formal education already have a good foundation, and for those who don't go to school or who don't have formal education, of course they can too, the most important thing is there is a will to be able to do the job.

This means that businesses and individuals in the country can use Bitcoin to pay for goods and services, and taxes can also be paid in Bitcoin. The move has generated a lot of interest and debate around the world, as it represents a significant step forward for cryptocurrency adoption and could have implications for other countries considering similar measures.

El Salvador grants first digital asset license to Bitfinex. And Bitfinex gets a license to operate in El Salvador's cryptocurrency market.
The country has established a framework for issuing bitcoin-backed bonds known as Vulcano Bonds. Bitfinex Chief Technology Officer Paolo Arduino said, We are delighted to be the first company to be awarded this license. This will enable Bitfinex Securities to facilitate the issuance and secondary trading of assets with clearly defined rights and obligations outlined in the new digital asset regulatory regime. Ardoino will work closely with El Salvador on the Bitcoin Bond project.

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El Salvador Become the first country in the world to add Bitcoin as their own currency. Earlier their currency was USD but they have adopted Bitcoin as their currency to improve their economic status along with USD. And they have taken various steps centered on Bitcoin.

El Salvador's Bitcoin-centric gambling has made tourists more attracted to Bitcoin. Officially, a survey of them showed that the tourism industry in their country increased by 30% after the implementation of the Bitcoin law. Where about 60% of the tourists in their country come from the United States. So they want to use this opportunity to enrich their tourism sector. And they have taken several other Bitcoin-centric initiatives that, if successful in reaching people, will further increase the number of tourists in their country.

You cannot compare a country's total educational attainment rate with its unemployment rate. Because they are two different things. Just because you have an educational qualification doesn't mean you have to get a job. The government is adopting various methods to reduce unemployment so that the unemployment rate of the country is relatively reduced. It is not the case that the educational qualification is decreasing every year while the unemployment rate is relatively high. Every year their country is improving in educational qualification.

The most important is breaking news. Bitcoin bonds issuer Bitfinex granted full license. Everyone was waiting for this bonds sanction and finally it was implemented. In this implementation this El Salvador has won and will always be on the side of Bitcoin.


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El Salvador is the smallest country in the Americas. They are very interested in Bitcoin. A really admirable country, they have always started using Bitcoin everywhere.

I point out that that graph shows the date 1992 and that 30 years have passed since then, which is equivalent to saying that only the new generations are literate, but a population is also made up of people aged 50/70/70/80 and they are quite sure that in those years in those latitudes education was not necessary.  Therefore it is a false fact and to claim that El Salvador is a country with an education means not seeing reality or not wanting to see it, or you live in places where education is similar to El Salvador so I advise you to read up on what an education is. real education at European level.

Its happening because El Savador ever purchased when Bitcoin around $52,000 but have positive side because they invested when Bitcoin drop under $20,000. I sure with El Savador investment right now on the profit situation due they have invested Bitcoin with several price and keep investing when Bitcoin around $15K until $20k.

Waiting with new announcement from El Savador government about current their Bitcoin investment condition, are profitable or still holding with drop several percent, but have chance for Bitcoin will back to higher price and El Savador most loyal for long term holding in Bitcoin.

The government of El Salvador is implementing every functionality with Nayib Bukele Bitcoin. He is leading his country in technology in a way that has surprised the whole world. At one time no one knew El Salvador very well. But Nayib Bukele has become known as EL Salvador to the world because he technically legalized Bitcoin in his country. Many popular media and various social media are writing about EL Salvadar. Indeed, my love for this El Salvador government increased. If he can rule his country for a long time, surely he can take his country to the peak of development.

As far as I understand, this is one of the reasons why the Salvadoran government wants to attract high-tech companies to the country. Bitcoin City in the future should ensure the opening of a significant number of vacancies that will require young educated personnel. Of course, it is impossible to instantly solve all the accumulated problems, but it is possible to lay the foundation for further growth and engage in development.

Since Nayib-Bukele Bitcoin was legalized in 2021, there has been a form of employment for the youth.  And since Bitcoin has become free of all taxes, Bitcoin has received a huge response among investors and entrepreneurs, a move that is a boon for El Salvador.  Dream city will be built in El Salvador through cryptocurrency.



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Considering the education rate, El Salvador has a 90% education rate but you can definitely see that no matter how educated you are, El Salvador has a high unemployment rate.  Youth unemployment is already on the rise.  In 2018, the youth unemployment rate was 9.82%, but the following year in 2019, the unemployment rate rose several notches to 13.28%.  As much as the nation advances in education, if jobs are not created, unemployment will continue to rise.

Bitcoin is Rallying but EI Salvador's Holdings still down 29%



Bitcoin hit $30,000 yesterday, breaking a nine-month high.  But EI Salvador's bitcoin holdings are still 29% below the price of invested bitcoins, despite a nine-month market high. All this information has been brought from the Bukele Twitter account researched by Bloomberg. In September 2021, Salvador began buying bitcoins by announcing it was legalized and according to the president, bought a total of 2,546 bitcoins with an invested market value of $108 million. But after yesterday's $30,000 rise, the market value of 2,546 bitcoins is $77 million, which is $31(29%) million dollars less than the invested market value.


News cover: https://www.bloomberg.com/news/articles/2023-04-11/bitcoin-is-rallying-but-el-salvador-s-holdings-are-still-down-29