Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 58. (Read 39048 times)

This is why El Salvador adopted #bitcoin   

Watch link: https://twitter.com/DocumentingBTC/status/1661712410569211905?t=tmCV_HK0mwEhcT--Odc-tQ&s=19

El Salvador is Bitcoin Country. You can’t argue with the success of ElSalvador’s no shitcoins.Bitcoin only approach.

High growth, tourism boom, America's safest country, high FDI, immigration reversed as 1 million Salvadorans return home, 91% approval for Pres. Buckel (world's highest), attracting the best Bitcoin companies in the world; Swan, Strike, Fold + more!

Source link

I agree and really believe in that, that the digital era continues to progress and there is always something updated at all times, where bitcoin is one of the progress that cannot be avoided at this time.
the presence of bitcoin has clearly brought changes that are very profitable for those who join it.
Apart from individuals, there are also countries such as El Salvador that have adopted bitcoin and legalized it to be used as a recognized transaction tool other than the US which has been used so far. el savador dared to go one step further because they believe bitcoin can help them in trouble, as well as all those who have invested their funds in bitcoin.

Come to the country of Bitcoin, of course Salvador will be heard. El Salvador is the creator of Bitcoin City If you want to enter Bitcoin City, you must go through the entrance of El Salvador. El Salvador is doing better than what we predicted. I would like to say on my own that I would like to take a tourist visa to El Salvador and travel once. As a bitcoin city El Salvador is open which I think applies to every visitor and is a safe city.
 
wacth link

Basically, the digital era is getting advanced.
Basically the presence of bitcoin has changed everything.
Basically the people who despise bitcoin are out of date in this modern situation.

Bitcoin has become a legal tender adopted by el savador and we see that they are progressing and advancing. So on this principle I think those of us who have been involved in Bitcoin, of course, have experienced extraordinary benefits, whether it's from trading income or investing in Bitcoin.

It would be great if such large cryptocurrency companies would move their headquarters to the territory and jurisdiction of El Salvador.  
But, I think, this process is not simple and such companies may get into big troubles, first of all because of the officials and in general they are for the representatives of the USA authorities.  First of all, because of the loss of tax revenues.  So not all large companies will decide on such a bold step.  
For example, just today I read that twin brothers Winklevoss, well-known cryptocurrency enthusiasts and founders of the Gemini cryptocurrency exchange, decided to open the second headquarters of this exchange in Ireland.  Just in case, if they are seriously persecuted in the USA, as I understand it.  They and similar companies in the field of cryptocurrencies are still simply afraid to anger the US authorities with their frank step if they just take it and leave for El Salvador.  This will be a notable slap in the face to legislators and the authorities of the USA.  Here they are simply afraid of the consequences for themselves personally, as a citizen of the USA.  That's all.  
But, I hope the positive experience of their more daring colleagues will allow them to make decisions not to go to the same shitty and tax-regulated Ireland, but to El Salvador, where Naib Bukele lowered taxes.  
In general, he is very loyal to IT technology startups.

In 2021 I heard there will be 1500 Bitcoin ATMs to be created but looking at coinatmradar until now only 212 units have been installed. Not a bad thing for countries that started legalizing Bitcoin as a means of transaction. Indeed, since the decline in the price of Bitcoin, there have been many reports that El Salvador is in ruin, even they applied for loans to the IMF but they were not given. It does take time and gradually, in addition to success in tourism there is other news. El Salvador managed to also pay off a $800 million debt plus interest was revealed by Finance Minister Alejandro Zelaya. Currently, they still owe $367 million plus interest on additional bonds maturing in January 2025, one positive sign of the country's financial stability. Source

I don't think we need the more crypto institutionizations to migrate to El-Savador than only the bitcoin users alone, we don't want to risk any chances for accommodating altcoins in other for them not to take ground, El-Savador is known for bitcoin and no any other crypto.


It's already happening, the economy is fast increasing and people all over the world are coming to the country to show interest in bitcoin, learn about bitcoin and enjoy a bitcoin free enabling environment without the itch from government regulations over the use and acceptabilities of bitcoin in the country's financial economy.


Those are exchanges and some were already considering that offer because of the over heating conditions of regulations on bitcoin users in the US, El-Savador is their best option and rescue haven


This is already happening and there's no doubt about it because it is evident in El-Savador ever since they adopt bitcoin, it has always been a better day.

Bukele has managed to significantly reduce crime in the country, this will always be a very valuable indicator for the population, everyone wants to live in a safe place. I'm not sure that everyone unanimously supports the current government, but the fact that Bukele has the support of the population and maintains good ratings is a very good indicator.

In addition to improving the situation in the fight against crime, Bukele also managed to improve the situation in tourism, which can also improve the country's economy. And the latest changes in tax law regarding tech campaigns are also received very positively, although it is too early to say how much this will work for El Salvador.

"Saifedean Ammous" impression on El Salvador

"Saifedean Ammous" an author of "Bitcoin standard" expressed his opinion after visiting Salvador at the invitation of the President of Salvador, that he has traveled to different countries of the world and met different people. People of different countries of the world have complained to him in different ways. Some have complained about the country's economy, some have complained about the country's legal system, roads and government policies of that country. But the people of Salvador did not complain to him but praised the country's legal system and the country's economy.

Salvadoran citizens appreciate the country's law and order and are able to move freely on the streets. They also praised the Salvadoran government for arresting and transferring criminal gangs to megaprisons.

Regardless of which direction Bukele Cap is facing we are all optimistic, that each time Bukele have the chance to push his Bitcoin crusade forward, he doesn't miss such an opportunity and I am sure he won't this time.


Bitcoin to the moon in El Salvador,  and using the time frame and BTC price is not a good enough basis to judge whether or not the Bitcoin project has succeeded or failed.

El Salvador is not a very prosperous country economically. A major sources of income for that country comes from several sectors among them one  most important is foreign remittances. But the big problem there is that they have to spend a lot of money to bring that remittance to their country. Sometimes it even came close to 50 percent. They were primarily interested in Bitcoin as a way to revolutionize payment methods, and for that reason they focused on Bitcoin's Lightning Network. In turn, they plan to hold long term now that they have a better understanding of Bitcoin. They are working on Bitcoin's Lightning Network because both transaction fees and time are an issue for them. As there are opportunities and facilities they can now get their entire money in hand with little cost. We heard about Strike, a company based on Bitcoin payment app, a few days ago. That company's CEO, Jack-Mallers, is primarily working on the Lightning Network in El Salvador.

The country that have got 6-7million population seems to be easy to give awareness. The beach community taking it forward and doing the right thing. Maybe the government can also contribute to the community or form more teams that helps in educating the children. If the children were educated and well aware of bitcoin, then the success of the country's bitcoin adoption will go high beyond the expectation. Maybe this can take more time, because it takes time for all these kids to have a transition from a student to an entrepreneur and into different jobs. A much appreciable effort from the community.

Bitcoin evangelism: A team of Bitcoin Beach community members visited the Taquillo school in El Salvador to educate the students on the ABCs of Bitcoin and were also kind enough to give the students some free sats so that they can be able to send and receive among themselves, and get a better understanding of how the technology works.
Source

President Nayib Bukele invited Saifedean Ammous (Author of Bitcoin standard).. Saifedean Ammous gifted his Written book " Principles of Economics" to president Nayib Bukele .
It is not known exactly why the two legends are meeting, but it is believed that the president may have invited him to know the current state of the course on Bitcoin Standard and Bitcoin Lightning.

Quoted in order that the image is viewable...

Yes.. interesting that Saifedean is just meeting Bukele.. and Bukele is not wearing his baseball cap backwards, this time.

source
The author of the Bitcoin Standard meets the President of El Salvador, Nayeb Buquel. El Salvador has given the Bitcoin Standard Book to President Nayeb Bukel.

El Salvador has taken the #BitcoinBTC only lead. (No shitcoins)
You guys can take the ‘crypto’ shitcoin lead.
🇸🇻 is set to become a #BitcoinBTC mining powerhouse with the launch of a new 🇸🇻 enterprise backed by $1 billion; ready to break ground on 421 MW’s of BTC hash in Q3, 2023 - with 1,000 MW’s more on tap.

https://twitter.com/maxkeiser/status/1660785356814569473?t=W6OJmXe08sER-ChhmqXtHw&s=19

El Salvador has now become known as the best country among all the countries.  Since the adoption of Bitcoin, Bitcoin is legal tender and all forms of Bitcoin are tax free. (Especially in terms of killings it has come close to zero). El Salvador ranks among the best in terms of freedom, sovereignty, high growth, and security. Nayib Bukele has contributed the most to all these performances. Because Nayib Bukele encourages the people of his country to do all these things and has formed a team in his country to teach Bitcoin.

I found the first part of your answer very important. Because what is any offer worth if you don't know whether all parties can live up to it in the long-term? Before the big players move to a country like El Salvador with their headquarters, a whole lot of lobbying and political influence will have to happen first. Up to a degree that these companies know they are in a safe and stable place for the decades to come. I doubt that this is possible right now in El Salvador because political whims still have too much influence on the daily business.

It would be different when the vast majority of the El Salvadorian population had fully adopted Bitcoin into their everyday lives and factually benefit from it. Then even if elections are around the corner and Bukele does not get re-elected, a newly elected president can't simply throw the Bitcoin economy over. For now it is Bukele who paves the way for Bitcoin to take its roots within the El Salvadorian society and economy, and in a second step I think bigger and bigger businesses will decide to take the risk and go to El Salvador, not the other way around.

Unless, as you mentioned lobbying, big businesses are the ones who essentially dictate the political direction through the power of money, whatever that could mean. Promising large scale investments or even corruption could be part of it.