Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 63. (Read 40928 times)

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.

He might present himself as crazy and exaggerate his points, but you yourself are becoming distracted if you believe that he makes nonsensical (or buffoon) points.


Personally, I would suggest to not get distracted by personalities... merely because someone like Keiser happens to exaggerate on a regular basis or even if you might not like him or think that he is saying dumb things.. .


and if you really believe that Keiser is saying dumb things, then that may well reflect on your own lack of ability to undersand what he is saying.. and don't get me wrong.. I don't give any shits about Keiser.. but if you listen to what he says, he is not tending to say dumb, nonsensical or buffoonery things as you are proclaiming..


.. unless you want to give some specific examples.. and we can try to focus on substance rather than your seemingly dislike of personality.

Go ahead.. point something out that you believe is wrong, buffoonery or otherwise suggesting that Keiser is disingenuine or spreading bad/wrong information (and careful about jokes and/or exaggerations because that might be merely your failure/refusal to recognize the exaggerated and/or perhaps attention seeking behavior that should not necessarily distract you from the underlying substance, if any).

Again.. it seems way better to not get too distracted (and clouded in judgement) by personalities, if possible.


If you cannot think of anything, let me give an attempted steelman example in regards to last year's (2022) Miami conference, when Keiser went on the stage and he was tearing up fiat and saying "fuck Elon".. likely saying fuck shitcoins and fuck doggie coin and really in the whole scheme of things.. who cares?  His clownish behavior was still making decently good points, even if we might not necessarily agree with the way that he had chosen to present such topics and/or to rile up the "bitcoin maxis" that were presumptively dominating the audience.... or even if he was saying things like fuck crypto and fuck doggie coin and other various inflammatory things.. What's wrong with those kinds of exaggerations for that audience and in that context (time and place)?.. even though it's a bit much in terms of clownery like you suggested, but for the most part the direction of the underlying message seems quite valid.... and does not even mean that any of us might want to do those kinds of things ourselves... what if he said, fuck the USA and burned a USA flag and said, long live Putin.. .. and I am not sure about the context, but surely it may well depend on the context of those kinds of statements too.. but they seem like artistic free expression statements, and trying to make some exaggerated points that not everyone is going to agree with... but they are still potentially valid points (might even provoke some actual thought about substance of what is being said or points that are being made), even if some of us might not agree with some of those points.

Given the current situation with uncertainty in the global politics of the USA, in particular in the issue of regulation of cryptocurrencies.  And the completely undefined and chaotic position of the SEC.  It is quite possible to imagine that a number of very large IT companies will leave the jurisdiction of the USA. 
And it may well be that one of them will decide to organize a headquarters in El Salvador.  Here is the first Strike already doing it.  I wonder who will be the next company? 
If I were the CEO of such companies, I would have thought well that it would be time to leave the USA because it is completely incomprehensible what other "gifts" to expect from the legislators and regulators of this country.
And the country itself seems to soon plunge into chaos.

Maybe, maybe not, because every serious company is looking for long-term stability, above all the political stability that a country like El Salvador can hardly provide. What apparently few pay attention to is the possibility that Bukele and his ruling party may not be re-elected in the next elections, although some will say that they currently have no opposition to fear.

It seems to me that such large companies would not move their headquarters to such countries, but it is all a matter of lobbying and politics, which means that everything depends on what conditions El Salvador would offer them.

This is good news for El Salvador. The more crypto-related companies and businesses move into the country, the better. I think El Salvador's economy will be booming within a decade from now. I wouldn't be surprised if established players from the US like Coinbase and Kraken also move there sometime in the future. The US is becoming hostile against crypto/Blockchain tech, leaving crypto exchanges no choice but to move their operations elsewhere.

Let's see if President Nayib Bukele will turn El Salvador into a developed country soon. With Bitcoin bound to rise in price, anything's possible. Just my thoughts

It is worth expressing condolences to the people of El Salvador in connection with the fact that people died in a stampede at the stadium during a football match.  
This tragedy, of course, brought grief to the families of the victims and their close relatives.  



In this small country, now famous all over the world thanks to President Bukele's decision to legalize bitcoin, the people are very fond of football.  And a lot of fans of this game.  
For example, even on the island of La Pirraya, locals organize football matches on the beach every evening.  That's how the people of this country love football!

This should be an inspiration for other countries. The news will motivate other countries to adopt crypto so that more tech companies come to their country which will create more jobs for the people. Also, the direct benefits of investing in crypto like wealth gain will also come when countries adopt crypto.

A digital wallet named Strike built on Bitcoin's Lightning Network, has already gained massive popularity around the world.
The company's CEO Mallers Speaking from Bitcoin 2021 in Miami said Bitcoin is the greatest reserve asset of all time and a superior financial network. Bitcoin holdings provide a way to protect developing economies from the potential shocks of fiat currency inflation.
Details

Mallers was one of the early Lightning Network developers who wanted an environment where Bitcoin would run through the legal system and allow customers to easily transfer their money with low fees. El Salvador is his desired destination. From where he will expand his business to bigger countries of the world. About 70% of El Salvador's people do not have a bank account. 20 percent of the country's GDP comes from remittances, with a large portion of the money lost in their fees. With the accordance, he chose El Salvador. The CEO believes that this country is the most suitable for Bitcoin by given its legal validity.