Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 7. (Read 43040 times)

Regardless of whether it is Tether or Bitcoin the news aimed at cryptocurrency adoption and its development and progress in El Salvador, under the Bukele-led administration that has demonstrated a highly prefilled bitcoin determination and also creations of policies to accommodate bitcoin/crypto-related projects to increase efficiency and scalability for the entire cryptocurrency industry and how citizens adopt and use them to they advantage.

My take is that Tether is a second-best solution now that sidechains (layer {n}) methods are worked out; at least for those of us who were more philosophically driven.  The latter being 'real' BTC pegged out on the Bitcoin blockchain in a verifiable manner.

Tether on tron was 'big in Asia' some years ago at least and before L2 worked and before Binance had been appropriated by Uncle Sam.  It certainly did a lot toward popularizing 'crypto' more generally.  My feeling is by this time it's utility as a sink for USD, and thus a means of squeezing a little more life out of the USD-reserve-currency system, has been recognized and developed.

I'm ambivalent about Tether, or even the more corp/gov elements of iFinex moving to El Salvador.  At the end of the day, if 'real Bitcoin' cannot withstand the machinations of some of these forces, it should probably wither and die as has been the case with countless species.  It's nature's way.  That's not to say that those of us who care should not do what we can to bolster it and avoid significant threats.  Certainly the other side will be operating in the reverse direction.

I'm more than a little annoyed at putative 'former enthusiasts' or 'real Bitcoiners' who are shouting that 'Bitcoin has failed' because scumbags figured out how to use it for their ends.  As far as I am concerned, all 'Satoshi' gave us was a system which was neutral and gives every player the same chance.  If the 'good side' has failed to make use of it as well as the 'bad side', then fuck the 'good side' and the horse they rode in on.  I can promise that were a solution devised that could only be used 'for good', then it would not have gotten to first base.

Tether have plans to put up a head quarters in El Salvador https://dig.watch/updates/tether-moves-to-el-salvador

I guess they see how serious this country dealing with Bitcoin and maybe they can set up some good connection to people there if they put their head quarters in that country. But I don't know if this is beneficial to them if they also use tether since somehow they cannot get anything with a coin that has stable value.

But one thing is for sure there El Salvador will still be in focus with Bitcoin when it comes on investment. Provably what initial benefits they would get from the move made by Tether is to boost more their popularity and maybe gather more tourist attention which is helpful for their country.

Huh? Since when is Tether... Bitcoin? This is demonstrating an evolution away from Bitcoin, not towards it.

With Tether headed to El Salvador and Bukele posting towards Rumble that they should also relocate to El Salvador, it seems like the country has begun attracting major up and coming businesses with their Bitcoin stance. This could be the beginning of a major shift in economic power towards countries that embrace Bitcoin.

Bitcoin and Bukele do not have an official partnership, Bitcoin is just a tool used by Bukele to support the economy in his country. While Bukele decision to make Bitcoin a legal tender was initially met with much criticism, El Salvador could now become one of the richest countries in the world after adopting Bitcoin on a large scale.
What Bukele did was a significant change for bitcoin reputation on the world stage. El Salvador may be changing from being the poorest and most crime-ridden country, become one of the richest and most innovative countries in the world within a span of 30 or 40 years.

Of course their technology is much more advanced than the concept you are talking about, in 2021 they accept Bitcoin as legal tender. And it's people of all countries have taken various steps since 2021 to gradually spread these bitcoins among the people of El Salvador.
 Various school institutions have taken steps to offer Bitcoin education, and today El Salvadorians can boast to the world that they are very much Bitcoin-independent and lucky. And they are ready at the present time to take further steps, here you enter, of course, all the signs of improvement are gradually manifesting.

Stablecoin Issuer Tether Relocates to Bitcoin-Friendly El Salvador
Tether, the company behind stablecoin USDT, is moving to Bitcoin-friendly El Salvador—a poor country that is now attracting tech talent.

Great idea, if Bitcoin and Bukele work together.  Then both will benefit, they will strengthen the security of every network in El Salvador if they are with each other.  This will make Bitcoin go forward.  This is a good line of thought by Buckel.  As a result, El Salvador can move forward economically.

LOL, and so begins the evolution that every major user of Bitcoin makes, wherein they migrate to products that actually... work. This is, strategically at least, bad news for Bitcoin's future:

"Bitcoin Nation" --> "Cryptocurrency Nation"

"Cryptocurrency Nation" --> "Digital Currency Nation"

The future is digital currency that scales to handle every single transaction on the planet. No blockchain-based digital currency can every come close to that. It will take a while, but that's the future no matter what.

USDT Issuer Tether Relocates To Bitcoin Nation El Salvador.
https://coingape.com/usdt-issuer-tether-relocates-to-bitcoin-nation-el-salvador/

Following El Salvador's friendly policies on crypto and Bitcoin,it has drawn and made Tether relocates to El Salvador, also obtains (Digital Asset Service) DASP license to legally issue stablecoins and boost local Bitcoin community.
Tether supports El Salvador by using volcanic energy in renewable energy crypto mining,and it has officially announced its aim in setting up it's physical office in El Salvador, Tether's CEO said it is a new step for the company and parterning with a country that has our vision for financial freedom, innovation and stability,” and expand its activities.

Sounds really bullish indeed.
Would love to see the details on the matter in the near future.

Wow... This is one of the craziest thing Bukele will do to help the bitcoin community at large. Giving a house one node means that everyone in El Salvador will strengthen the security of the network and will have a vast knowledge on how bitcoin works. This is a very good innovation from Bukele, he really wants to carry everyone along. This will make most of their youths be bitcoin enthusiasts. Why can't other countries learn and copy from El Salvador love for bitcoin.

🇸🇻 Max Keiser says, “President Bukele is preparing is Install a #Bitcoin node in every home in El Salvador.”

Bitcoin country is winning



https://x.com/BitcoinMagazine/status/1879117554767266055?t=4B-qtRnt0tTikSR3IRE0Rg&s=19

El Salvador Inks Cloud Services Agreement With Rumble

It is true that this Canadian company is interested in working with El Salvador but they will primarily work with El Salvador for cloud computing services. Some of the services this company will provide for El Salvador are listed below.

1. Cloud computing,
2. Cloud storage,
3. Database, among others.

Maybe this could be a breakthrough move for El Salvador.
 


The President of this country had taken many important steps for the development of this country before. I think they took the most important step of all when they legalized Bitcoin. Currently, the number of tourists in this country is increasing day by day mainly because of the legalization of Bitcoin. They mentioned creating bitcoin cities in their countries, after building it maybe they will become more popular to the whole world.

Amazing to see some improvement happened to El Salvador since before they are well known to be one of dangerous country in the world. Then now they change the narrative by the help of their great leaders and they became one of the best tourist destination especially for those people who use Bitcoin.

All the efforts made by Nayid Bukele is now giving them good result and hopefully other country would see the result of El Salvador as good proof that its good to adapt Bitcoin since they are not only benefiting thru investment, but also the other effect what possibly they could get for taking good decision with these matter. Looking forward for good future and always good to see El Salvador getting good exposure in global scene towards their decision to buy more Bitcoins.

The CEO of Rumble Chris Pavlosky said something remarkable; "We want El Salvador to be a leader in technology in the same way that it leads in freedom". This an indication that it was because of El Salvador's engagement with Bitcoin that attracted the to invest in the country. Most countries have not fully understood that being friendly to Bitcoin has other fringe benefits. This Canadian company will offer El Salvadorians quality video and cloud services, transfer technology, create employment, increase government revenue through tax and many more.   

The initiatives taken by Nayib Bukele to legalize Bitcoin and expand the use of Bitcoin in the country are undoubtedly contributing significantly to the development of the country. Although his country is small and not economically strong, his steps are quite brilliant. The plans he has made for the development of the country will give the country maximum benefits in the future. And the most important thing behind all these developments and improvements is the country's positive attitude towards Bitcoin. Nationally educating the people of their country about Bitcoin and educating the general public about Bitcoin through training is certainly a visionary policy.

The country has now come to the attention of the world for allowing Bitcoin as legal tender. People from different countries of the world are now flocking to spend time in the country. El Salvador is becoming a major holder of Bitcoin on the one hand, and on the other hand, the extensive development of the economic and tourism sectors has made El Salvador a place of interest for everyone worldwide.



Recently, Canadian company Rumble is interested in starting operations in El Salvador. In the meantime, the CEO of the company has also announced to recruit citizens of that country. If this technology company operates in El Salvador, the people there will gain more experience. He also claims that this country will act as a hub for people speaking different languages and different countries. Gradually, the entire world is seeing how El Salvador is becoming a Bitcoin enthusiast and standing high in the world.

https://diarioelsalvador.com/la-compania-canadiense-rumble-iniciara-operaciones-en-el-salvador/611847/

El Salvador Sees Tourism Boom Amid Bitcoin Adoption

As per a recent report, El Salvador has witnessed a boom in tourism amid its Bitcoin adoption as a legal tender.
As per a report from Santander, shared by El Salvador President Nayib Bukele, the country welcomed 3.9 million tourists in 2024, which was a 22% increase from the previous year. Notably,  the visitor numbers nearly doubled compared to the period between 2013 and 2016.


Construction Boom and Improved Security Driving The Surge
The boom in contruction and much higher mobility have allowed for the exploitation of the eco-tourism industry. Besides, the breakdown of tourists via geography showed an important surge in US-based visitors which may include some “BTC novelty tourists.” The improved security in El Salvador is encouraging Salvadorans living abroad, especially in the U.S., to visit their families, boosting the tourism sector.
Source link: https://coinpedia.org/news/el-salvador-sees-tourism-boom-amid-bitcoin-adoption/

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This success in El Salvador has come only because of investing in Bitcoin, Nayib Bukele is putting his maximum effort into Bitcoin to help his country reach the peak of development. However, the possibility of more tourists entering El Salvador this year is the highest due to the acceptance of Bitcoin.
 Moreover, the most positive aspect in El Salvador is that they are buying one Bitcoin every day, which has become the most talked about topic of the moment. And they are definitely moving towards more success.

Great to hear those developments.

Also after those 11 BTC acquisition they also aim this.


Source here and read this guys this action they want to do is pretty much interesting https://news.bitcoin.com/el-salvador-aims-to-purchase-dojs-seized-bitcoin-at-a-discount/ especially that we seeing them so aggressive to accumulate a lot more and get profit with Bitcoin.

Its impressive to see that Bukele really have high level of trust on Bitcoin and hopefully we can see more leaders like him and not those skeptical old man always deny the idea about adapting Bitcoin.

Yesterday, the Government of El Salvador bought 11 BTC at once for $1 million. Incidentally, this is already the third purchase of a large number of bitcoins in one day, and not just one bitcoin, the purchases of which continue.

The second interesting news from El Salvador is the relocation of the Bitfinex Derevatives head office to El Salvador.
These functions will now be carried out by Bitfinex Derivatives El Salvador S.A. de C.V.
This is obviously good news, as such a decision by Bitfinex management clearly shows a friendly attitude on the part of the Government of El Salvador and further steps by the Government of the country in developing their strategic line on the creation of a cryptocurrency and IT-technological cluster in El Salvador.