El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 70.

Abiky

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Quote from: retreat on April 18, 2023, 07:44:42 AM

It just takes time for them to become more familiar with Bitcoin and its use in their transactions. I'm sure that with massive education and easier access to exchanges, it will definitely encourage people to be able to transact using Bitcoin. And especially young El Salvadorans who can develop applications to facilitate the adoption of Bitcoin, such as exchanges and purchases in one application that are easy and fast, that will definitely be needed to boost this Bitcoin adoption.

At least, El Salvador is off to a good start. Latin-American countries should copy its model for true financial prosperity. I believe the Government of El Salvador will provide the necessary tools and education to spur adoption of Bitcoin among its citizens. Good things take time before they produce promising results.

If BTC goes to the moon as predicted, El Salvador would be on a "winning streak". Maybe it will turn into a developed country in the future? As long as Nayib Bukele is in power, anything's possible. Just my thoughts Grin

LDL

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https://twitter.com/BitcoinMagazine/status/1648750754205663232?s=19

El Salvador will go down in history as the first country in the world to declare Bitcoin legal tender. President Nayib Bukele declared Bitcoin legal tender for the country on September 25, 2021. Since then the government and people of the country started using Bitcoin in their daily activities as well as important official functions of their lives.
Nayib Bukele, the popular president of Salvador, is doing various important development works, including tax exemption, to declare Bitcoin as a national asset.

Next Monday, the president is going to implement his educational plan with the most talented students of the university to provide higher education at the university level for application in the field of Bitcoin education. He will launch this program with the university's most brilliant students to build bitcoin Lightening network developers. But we are certainly hopeful that Salvadoran President Nayib Bukele will implement this plan.

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Quote from: Who is John Galt? on April 17, 2023, 08:14:13 AM

In fact, this is just a rather bottleneck in terms of the spread of Bitcoin as a means of payment. If not for Chivo Wallet and LN, this would not be so easy to do in El Salvador. The speed and cost of a typical transaction on the Bitcoin blockchain make it impossible to make numerous small payments profitable without the help of second-layer projects. Developers are gradually solving this problem, but for now, Chivo Wallet and LN are what help El Salvador to actively implement Bitcoin everywhere.

Fact is the issue of blockchain transactions fees and who bears them is one of the major limitations to Bitcoin retail adoption and this should be properly settled before making a Bitcoin transaction even though the fees are mostly in a small fraction of the network is not congessted and the sender should bear the fees in most cases.

Layer2 network is the best option unless for its technicality that pauses a contrain on its adoption, but if retailers could get a bitcoin payment systems that allow zero fees on bitcoin cards and uses point of sale machine to collect payment it could solve a lot of those fees problem, what I have been suggesting in some of my online articles as regards to El Salvador bitcoin adoption and it resultant hesitant by retail users is that the government should come up with a national development e.g A bitcoin ATM card that will allow the holder to withdraw at zero fees from merchants.

Or when making payments to retail shops that have a mini Bitcoin point-of-sale machine to collect a payment, this way the government will go a long way to ease the suffering of its citizens when making payments with Bitcoin and also increase the level of retail adoption.

Who is John Galt?

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80 Bitcoin service providers are already registered by El Salvador’s Central Bank. Of these, 58 are exchanges, and two more companies are developing ATM networks, so there is an expectation that the number of BTMs in El Salvador will increase from the current value of 212 (6th place).

retreat

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Quote from: Popkon6 on April 15, 2023, 04:03:18 AM

Some shopkeepers do not accept bitcoins by accepting payment after selling goods due to their past bad habits and lack of knowledge of cryptocurrency. El Salvador Nothing is Perfect Chivo Wallet and Bitcoin Lightning Wallet Lack of Knowledge Some traders are hesitant to accept Bitcoin. In the future all the merchants will gradually be interested in accepting Bitcoin and the merchants need to be motivated about Bitcoin.

It just takes time for them to become more familiar with Bitcoin and its use in their transactions. I'm sure that with massive education and easier access to exchanges, it will definitely encourage people to be able to transact using Bitcoin. And especially young El Salvadorans who can develop applications to facilitate the adoption of Bitcoin, such as exchanges and purchases in one application that are easy and fast, that will definitely be needed to boost this Bitcoin adoption.

Who is John Galt?

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Quote from: Wiwo on April 16, 2023, 05:55:35 PM

But with Bitcoin, the driver can request for just the transaction harsh txd only from the customer and once he confirmed that the transaction has at least received 1 confirmation, he can move on even though the payment has not arrived in the wallet he will certain to get his payment as soon as the transaction reaches the require confirmation on.

In fact, this is just a rather bottleneck in terms of the spread of bitcoin as a means of payment. If not for Chivo Wallet and LN, this would not be so easy to do in El Salvador. The speed and cost of a typical transaction on the bitcoin blockchain makes it impossible to make numerous small payments profitable without the help of second layer projects. Developers are gradually solving this problem, but for now, Chivo Wallet and LN are what help El Salvador to actively implement bitcoin everywhere.

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Quote from: Mr.corol on April 15, 2023, 10:12:13 PM

The country of El Salvador is paying taxi fares with Bitcoin. El Salvador is truly a wonderful country.

They are paying with bitcoins to buy gas. Gradually they will use Bitcoin for everything.
By seeing the activities of this country, the countries around them will be attracted to Bitcoin. At some point, everyone around the world will be attracted to Bitcoin.

Bitcoin is gradually gaining traction in El Salvador and this is one of the ways Bitcoin has served as the best alternative to the fiat currency, seeing that El Salvador citizens can now board taxis and make a payment with Bitcoin and also buy gas with Bitcoin is quite an exciting development for El Salvadorians who have initially been sceptical about Bitcoin usage. But this gradual adoption of Bitcoin for payment for essential services such as transportation is quite an awesome move that will spreadbitcoin knowledge quicker than expected and of the major problem Bitcoin usage for transport will solve is the issue of failed transactions which is popular with bank apps and cards payment.

But with Bitcoin, the driver can request for just the transaction harsh txd only from the customer and once he confirmed that the transaction has at least received 1 confirmation, he can move on even though the payment has not arrived in the wallet he will certain to get his payment as soon as the transaction reaches the require confirmation on.

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Quote from: Litzki1990 on April 15, 2023, 10:51:39 PM

Quote from: Mr.corol on April 15, 2023, 10:12:13 PM

source
The country of El Salvador is paying taxi fares with Bitcoin. El Salvador is truly a wonderful country.

Source
They are paying with bitcoins to buy gas. Gradually they will use Bitcoin for everything.
By seeing the activities of this country, the countries around them will be attracted to Bitcoin. At some point everyone around the world will be attracted to Bitcoin.

El Salvador went a step further in Bitcoin transactions. Undoubtedly, this is a very good news. El Salvador taxi bills, gas bills, and filling station bills all have Bitcoin attached. Their activities are really admirable. Step by step they are increasing the transaction volume of Bitcoin. El Salvador's initiative will be of great inspiration to countries that are planning to use Bitcoin as a medium of exchange.

At some point, it will be seen that every product in El Salvador is using Bitcoin as a means of alternative transaction.

The government of El Salvador has undoubtedly impressed everyone with its Bitcoin usage plan. In El Salvador, Bitcoin transactions have been introduced not only for gas bills, taxi fares, electricity bills, product purchases, etc. And the good news is that in all transactions tax free bitcoin transactions no tax to pay this activity is undoubtedly commendable. However, this Middle Eastern country of America has come a long way in terms of Bitcoin transactions and investments. They use bitcoins are spreading widely around the world and in EL Salvador there used to be a lot of extortion and terrorism.Nayib Bukele after the introduction of cryptocurrencies in EL Salvador suppressed them and led their country to progress. and the government of EL Salvador has passed the approval of Bitcoin transactions in almost all areas and in their economic aspect they are making great strides and have already started to improve a lot.

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Quote from: Mr.corol on April 15, 2023, 10:12:13 PM

source
The country of El Salvador is paying taxi fares with Bitcoin. El Salvador is truly a wonderful country.

Source
They are paying with bitcoins to buy gas. Gradually they will use Bitcoin for everything.
By seeing the activities of this country, the countries around them will be attracted to Bitcoin. At some point everyone around the world will be attracted to Bitcoin.

El Salvador went a step further in Bitcoin transactions. Undoubtedly, this is a very good news. El Salvador taxi bills, gas bills, and filling station bills all have Bitcoin attached. Their activities are really admirable. Step by step they are increasing the transaction volume of Bitcoin. El Salvador's initiative will be of great inspiration to countries that are planning to use Bitcoin as a medium of exchange.

At some point, it will be seen that every product in El Salvador is using Bitcoin as a means of alternative transaction.

Mr.corol

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source
The country of El Salvador is paying taxi fares with Bitcoin. El Salvador is truly a wonderful country.

Source
They are paying with bitcoins to buy gas. Gradually they will use Bitcoin for everything.
By seeing the activities of this country, the countries around them will be attracted to Bitcoin. At some point everyone around the world will be attracted to Bitcoin.

Gallar

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Quote from: Odusko on July 28, 2022, 03:00:02 AM

Quote from: ?? on ??

The Bitcoin market has adopted Salvador as a symbol. More and more individuals may start using Bitcoin as the nation's official currency in the near future. Not the finish, but merely the beginning.

You seem to have gotten it wrong here, El Salvador did not accept the Bitcoin market. The country made Bitcoin a legal tender and this is different from your presumption so bitcoin remains a legal tender in El Salvador regardless of its market condition. This is why El Salvador has not sold any of its Bitcoin holdings since they began an accumulation of since over a year ago.

Of course, the president of El Salvador will not sell bitcoins that easily, they must have bigger goals in the future. Because the president, Nayib Bukele, must have thought very long about planning the adoption of bitcoin. And the goals that have been set by the president of el Salvador, will surely shock the world. Currently, one of the impacts that occurs when adopting bitcoin is on the tourism sector.

Quote

The Minister of Tourism, Morena Valdez, also confirmed that the local tourism industry has increased by 30% in the first three months after the adoption of Bitcoin.

Just three months after El Salvador adopted bitcoin, it has had a good effect. what else now.

Quote

“We have increased tourism by 95%, and that is partly due to Bitcoin. There are many Bitcoiners who want to go to a country where Bitcoin is legal tender, we are holding a Bitcoin conference," said Bukele, quoted from Cryptoslate, Wednesday (8/3/2023).

Sumber: https://pintu.co.id/news/25806-dampak-positif-bitcoin-untuk-el-salvador

Such an achievement is an extraordinary achievement, it can increase the tourism path by up to 95%. Because for some countries it is not easy to increase tourism routes like that. And it's all thanks in part to the adoption of bitcoin that took place in el Salvador.

Popkon6

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It is very important for heads of state to keep up with Bitcoin these days. Because now is the time for presidents to read books to stay in touch with Bitcoin trends and the rapidly evolving industry. Nayib-Bukele El Salvador This is the most important time to collect this bitcoin book and reach people to educate people.

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Quote from: jokers10 on April 15, 2023, 03:56:26 AM

Quote from: Zanab247 on April 14, 2023, 09:31:13 AM

El Salvador are already in that pinnacle of development in the world for BTC because, anywhere you go in the world it has been recorded that El Salvador is the first country to legalized BTC to improve their economy and they have published BTC books for people to read and steady more about BTC so that they will have knowledge of BTC. Many countries are now looking for help from El Salvador president to show them how to legaliz BTC for their people to believe that BTC is not a scam currency because, the people of El Salvador believed in BTC in their country because they know everything about BTC is favourable when you follow due process.

Being the first doesn't mean being on the top all the time. Do you remember the name of the first social network? Of the first mobile phone producer? Of the first online store? Hardly. So to stay on the top there is a lot of work to do. And luckily El Salvador's government understands that. They are not stopping with being satisfied with being the first, they work hard to achieve more and get as much of the situation as only possible. History remembers the winners and not the first, and the first stay in memory only if the first is the winner.

Agreed on the fact. Being the first doesn't get importance, the goodness and the success will be remembered forever. Even with bitcoin it gets related, because earlier to the existence of bitcoin there were more attempts from different persons to create cryptocurrency, finally Satoshi innovated bitcoin and it is the real success. The country amidst all the opposition trying to promote as well as create opportunities which is the best way to make people involve into it.

The government had prioritised bitcoin education which is the best thing that need to be done to make the public make use of bitcoin in an effective manner. For school children text books were launched, diploma programs were started. More such activities will surely make people use bitcoin with ease than the credit card and debit cards.

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Quote

El Salvador has awarded two more digital assets licenses today

@Ditobanx
is a Salvadoran startup delivering financial inclusion through its digital wallet

Also receiving a license is
@jackmallers
' E4

We welcome the best & brightest to come build in #Bitcoin country

[1] https://twitter.com/bitcoinofficesv/status/1646925323756265489

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Quote from: Z-tight on April 15, 2023, 06:20:49 AM

Quote from: RockBell on April 15, 2023, 05:24:27 AM

You make a really good point that it will take some time for everyone to fully adopt the use of cryptocurrencies as legal tender because not everyone is familiar with them or knows how to use them for transactions. I'm not sure, but I believe that the government of El Salvador should host seminars for citizens to provide them with introductory lessons on cryptocurrencies. Most shop owners will have interest since its legality is coming from the government till today I love the decision that has been taking by their government.

I can agree that when El Salvador made BTC a legal tender in 2021, many people did not know what it was and how to use it, i even believe that the government that made the law didn't even know so much about BTC then, but the knowledge has been growing in El Salvador since then and i feel most merchants now have the knowledge to accept BTC if they want to, probably for most merchats who are yet to adopt BTC payment, it may be because of lack of interest, rather than not being familiar with how to implement it, which is very easy.

Agree with you. When something new is started, it takes time to implement. It will be the same in El Salvador. Initially people didn't know about Bitcoin now after knowing they are showing great interest and it continues to this day. Citizens of El Salvador are now well aware of Bitcoin. People who were unfamiliar with Bitcoin even a few days ago are now starting to dream about Bitcoin. Many people are also planning to start using Bitcoin in their business and maybe it will be implemented in a short of time. One of the great things about Bitcoin is that Bitcoin has been taught to the general public in El Salvador, in addition to government agencies, but also privately. The results of which will soon be reflected in El Salvador and El Salvador will have a better blockchain experience than some other big countries. Moreover, they have already announced that they have waived tax on all types of technological goods for Bitcoin and Blockchain based work which has won worldwide acclaim.

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Quote from: RockBell on April 15, 2023, 05:24:27 AM

You make a really good point that it will take some time for everyone to fully adopt the use of cryptocurrencies as legal tender because not everyone is familiar with them or knows how to use them for transactions. I'm not sure, but I believe that the government of El Salvador should host seminars for citizens to provide them with introductory lessons on cryptocurrencies. Most shop owners will have interest since its legality is coming from the government till today I love the decision that has been taking by their government.

I can agree that when El Salvador made BTC a legal tender in 2021, many people did not know what it was and how to use it, i even believe that the government that made the law didn't even know so much about BTC then, but the knowledge has been growing in El Salvador since then and i feel most merchants now have the knowledge to accept BTC if they want to, probably for most merchats who are yet to adopt BTC payment, it may be because of lack of interest, rather than not being familiar with how to implement it, which is very easy.

There is also 'Mi Premer Bitcoin', which is a BTC diploma program which assists in teaching people from El Salvador about BTC, from what i read, this program is not run by the government, but they support it, and so far it has helped to educate people from the Central American country about Bitcoin. These kind of programs can help, but people can even learn about BTC without them, except they lack the interest which i think is the problem here.

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Quote from: jokers10 on April 15, 2023, 03:56:26 AM

Being the first doesn't mean being on the top all the time.

This may be applicable to other people, countries or areas and some other things but if you look into the case of El-Savador, it has not been ever relented from developing itself in many ways providing diverse opportunities, El-Savador is not such that does not want to get involved in any technology advancement except if later in future they have a change in government of which i believe it may not also significantly deviate from enjoying bitcoin and every other opportunities that comes along with it.

Quote from: jokers10 on April 15, 2023, 03:56:26 AM

Do you remember the name of the first social network? Of the first mobile phone producer? Of the first online store? Hardly. So to stay on the top there is a lot of work to do. And luckily El Salvador's government understands that.

Those organizations were centralized but this is a centralized country that is interesting on a decentralized network, the foundation from which it is built also determines, but blockchain technology is such that has come with many solutions.

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Quote from: Popkon6 on April 15, 2023, 04:03:18 AM

Quote from: Mr.corol on April 14, 2023, 05:37:28 PM

There are some stores that do not accept Bitcoin. Even if you want to smoke, you can get it in exchange for bitcoins.
news see more details

Some shopkeepers do not accept bitcoins by accepting payment after selling goods due to their past bad habits and lack of knowledge of cryptocurrency. El Salvador Nothing is Perfect Chivo Wallet and Bitcoin Lightning Wallet Lack of Knowledge Some traders are hesitant to accept Bitcoin. In the future all the merchants will gradually be interested in accepting Bitcoin and the merchants need to be motivated about Bitcoin.

You make a really good point that it will take some time for everyone to fully adopt the use of cryptocurrencies as legal tender because not everyone is familiar with them or knows how to use them for transactions. I'm not sure, but I believe that the government of El Salvador should host seminars for citizens to provide them with introductory lessons on cryptocurrencies. Most shop owners will have interest since its legality is coming from the government till today I love the decision that has been taking by their government.

Popkon6

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Quote from: Mr.corol on April 14, 2023, 05:37:28 PM

There are some stores that do not accept Bitcoin. Even if you want to smoke, you can get it in exchange for bitcoins.
news see more details

Some shopkeepers do not accept bitcoins by accepting payment after selling goods due to their past bad habits and lack of knowledge of cryptocurrency. El Salvador Nothing is Perfect Chivo Wallet and Bitcoin Lightning Wallet Lack of Knowledge Some traders are hesitant to accept Bitcoin. In the future all the merchants will gradually be interested in accepting Bitcoin and the merchants need to be motivated about Bitcoin.

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Quote from: Zanab247 on April 14, 2023, 09:31:13 AM

El Salvador are already in that pinnacle of development in the world for BTC because, anywhere you go in the world it has been recorded that El Salvador is the first country to legalized BTC to improve their economy and they have published BTC books for people to read and steady more about BTC so that they will have knowledge of BTC. Many countries are now looking for help from El Salvador president to show them how to legaliz BTC for their people to believe that BTC is not a scam currency because, the people of El Salvador believed in BTC in their country because they know everything about BTC is favourable when you follow due process.

Being the first doesn't mean being on the top all the time. Do you remember the name of the first social network? Of the first mobile phone producer? Of the first online store? Hardly. So to stay on the top there is a lot of work to do. And luckily El Salvador's government understands that. They are not stopping with being satisfied with being the first, they work hard to achieve more and get as much of the situation as only possible. History remembers the winners and not the first, and the first stay in memory only if the first is the winner.

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