Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 72. (Read 43241 times)

I don't think inflation with El Savador happening because bitcoin drop but more than what happen with economic global, many countries seems face economic crisis right now and they are time recovering after Covid 19 cases and believing when economic global have been better El Savador will back from inflation despite what happen with Bitcoin on higher or lower price.

But looks excited with any drinks and food in El Savador have dropped significantly but I don't sure its has relation with Bitcoin drop, actually have least two months with bitcoin ever drop and right now move up little until $30k. Based on tradingeconomics news inflation in El Savador not only with food and drink but also many categories from transportation (1.5% vs 1.1%); housing and utilities (2.2% vs 2.5%); recreation & culture (3.1% vs 4.7%) and furnishings & household equipment (3.4% vs 3.8%). But if any people claimed the inflation because Bitcoin waiting later when Bitcoin back to higher price, will El Savador economic condition better or not?

https://tradingeconomics.com/el-salvador/inflation-cpi

The #BitcoinDiploma course is ending in Ataco, El Salvador & our students already know who is King: Bitcoin

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Diploma course in El Salvador is almost over. They are able to teach their students properly. Their students created a beautiful Bitcoin King picture art. El Salvador is an amazing country, teaching their country's students in Bitcoin. El Salvador's President Nayeb Bukel will be remembered forever. In the future El Salvador will succeed in Bitcoin. They are using Bitcoin in almost all cases. Bitcoin is being used for gas, cars and more. The country of El Salvador will be using Bitcoin in all fields in the future.

EI Salvador achievements/ slogans

• EI Salvador is a Bitcoin Country.
• A place where everyone wants to be free.
• We are leading the world.
• The land of economic liberty.
• The New land of the Freedom.

https://twitter.com/maxkeiser/status/1659223614892175363?s=19

NEW: 🇸🇻 El Salvador
Booth spotted at #Bitcoin
Conference Miami 

https://twitter.com/BitcoinNewsCom/status/1659127999659143169?t=Lo-OU5VYUkbrfdTx_Tjz3Q&s=19

Quite often we can see people indicating El Salvador, they've got into bitcoin adoption without proper planning. When something is newly implemented, surely people will find it difficult. With time they'll get adopted to it. What we see with El Salvador right now is the real impact of bitcoin adoption. Slowly people are getting used to it and the proper education and awareness is provided. The adoption had attracted good number of people into El Salvador and the tourism have grown good. Nayib Bukele government have kept the crimes under control which is also a major reason for the growth within the country.

Not only that, the prices of many drinks and food in El Salvador have also dropped significantly. Inflation has also come down a bit more than last month only because of Bitcoin adoption. Meanwhile, this figure mentions that alcoholic beverages exist in Salvador, with prices falling and under control. This chart exists for the convenience of El Salvador consumers.

Compared to the past El Salvador led by Nayib Bukele led by the adoption of Bitcoin, their economy is currently doing very well.  Everything is under control in El Salvador.
Follow:  https://tradingeconomics.com/el-salvador/inflation-cpi

That's true about El Salvador's inflation. Based on this website's data --> https://tradingeconomics.com/el-salvador/inflation-cpi

The inflation rate of El Salvador for this month of April 2023 has fell down to 5.44% and as per that website and source: it says that it's for the 4 consecutive months of decrease and it's interesting while many of the rich countries have been gaining percentage of their inflation rates, El Salvador is dropping on it.

And with this rate going down on them signifies that the country's economy is doing fine and we can also say that the decision of Bukele of adopting Bitcoin as legal tender for sure has a contribution on this rating.

It won't take any longer until most of them will enjoy the usage of Bitcoin or will enjoy it as an asset as these figures for Bitcoin are already known by many.

NEW: 🇸🇻 El Salvador Booth spotted at #Bitcoin    Conference Miami 👀 🙌

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📸 Smoothie shop accepting #bitcoin    in El Salvador 🇸🇻

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El Salvador is truly an amazing country. Which people will remember for ages. First bitcoins are legalized in their country. made Bitcoin the official currency of their country. They use Bitcoin to shop. In Bitcoin they will go further.

It is natural that there will be obstacles when taking any new initiative and working accordingly to implement that initiative.  Not everyone will accept your initiative well, many will make many negative comments and show a lot of negative information about your initiative. But those who remain firm in their decision despite all the criticism, eventually reach their goal. When El Salvador took these steps for the development of their country, the people of the country and different classes of people did not take it well and they spoke against the government's decision in different ways, but the government of El Salvador is moving towards its goals without paying attention to anyone's words and so far they are for this work. It has received many accolades worldwide.  If they can work according to their complete plan, then their country will go ahead economically and many countries will apply this program of their country.

Latin American Development Bank known as CAF. The organization has already made significant contributions to the development of El Salvador. They promised to increase their credit facilities. They feel that the country can make a better position in the next one year. The agency has so far approved credit facilities of about 375 million dollars in various parts of the country. There will be criticism but those who want to make their dreams come true will get success. It is a common characteristic of the people of the world that those who criticize today will praise tomorrow if you get the success. From now El Salvador will see the implementation of every step of development.

El Salvador is in a far superior situation than numerous other financially strong countries, which are encountering inflation.Germany (7.4%) and America (5%) are the two.Month after month, expansion rises.El Salvador's leader could accomplish much better for his country on the off chance that he settled on a choice this significant.After El Salvador's regulation was perceived as lawful by him, most of examination and discussion in the whole world has been pushed in its favour.Bitcoin can now be utilized for regular El Salvadorian exchanges including purchasing labor and products, covering charges, and reimbursing obligations on account of its acknowledgment as legitimate money.

The El Salvadorian president is indeed a visionary leader. The decision by El Salvador to make Bitcoin a legal tender drew a lot of backlash and criticism but today, they are beginning to prove their critics wrong and the move is beginning to yield positive results. Prior to making bitcoin a legal tender the nation was plagued with a lot of economic difficulties. Today, it is a destination for tourists as tourism is up by 30%, drastic reduction in inflation and emigration rate, 10% increase in Gross Domestic Product (GDP), a great increase in number of foreign investors and many more.

The bitcoin story of El Salvador is just getting started, and it will be the talk of generations. In few years to come I won't be surprised if El Salvador becomes UAE of south america.

El Salvador took a number of Bitcoin-centric initiatives that they have already been able to successfully implement. And they are taking some new steps. They have new plans to build a new branch in Fold El Salvador, a bitcoin rewards company, they have already hired some experienced people.  Fold is the first US Bitcoin Rewards Visa David card maker company founded in 2020. The company has decided to open a new office in El Salvador to expand its global presence and if they are successful, they will try to expand their operations nationwide.

By entering in El Salvador, the company will try to capture the large market in Latin America, which is natural. Because everyone has a business goal of expanding their business. Converting to a Bitcoin banking system by offering Bitcoin services to some regions in Latin America who do not yet have a bank account. They also try to expand their global business from that place. But there is no doubt that they have a good plane. As part of this, Fold plans to launch a service with their team and locals in El Salvador. The company will now get the maximum benefit from the legalization of Bitcoin in the country of El Salvador and their business is going to expand massively which is definitely inspiring for Bitcoiners. The arrival of Fold is good news as many companies will now consider expanding their business in the country of El Salvador.

El Salvador, a small Latin American country, has already implemented many of the groundbreaking steps it has taken on Bitcoin, and some are on the way. Another important step taken is that the Bitcoin Rewards company Fold is going to open a local office in El Salvador and if their company's operations are successful, they will decide to continue their office operations globally. But they will first test drive it in Salvador.



The main objective of this company is to serve the citizens of El Salvador with the aim of reducing excessive Bitcoin transaction fees. But if their first foray is successful, they will work to reduce the impact of additional fees on Bitcoin transactions worldwide.

https://en.cryptonomist.ch/2023/05/16/bitcoin-fold-lands-el-salvador/

I saw in a news today that the Fold Bitcoin Rewards app in El Salvador announced the expansion to El Salvador, leading the Latin American operation. There are many other comments that Fold CEO Will Reeves expressed enthusiasm about the move in a press release shared with Bitcoin Magazine, stating, As a country that has embraced bitcoin and has been a pioneer in adopting new monetary technology, we believe that El Salvador is the perfect place for Fold to expand its presence in Latin America. Reeves sees El Salvador as an ideal location due to the country's positive stance on bitcoin and its efforts to build new capital markets.
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#Bitcoin  rewards company, Fold, is setting up offices in 🇸🇻 El Salvador with plans to expand across Latin America

Bukele's plan to turn his country into a technology hub is already paying off 🙌

https://twitter.com/BitcoinNewsCom/status/1658157137174966280?t=K7E5KSBBMfYYp4uwPu9q3A&s=19

Oscar Avalle is a representative of the Latin American Development Bank. He recently praised El Salvador for its upward trend in economic indicators by Fitch Ratings and S&P Global Ratings. He claimed that the country's financial risk has started to decrease steadily. The right policy and foresight of the country's government will help sustain the country's development. Óscar Avalle also said that in the future we will stand by this country. I will try to be their partner in development activities. He also mentions the real reflection of the society to stay ahead in the ratings.

Basically, the development of a country requires the right steps as well as the collective efforts of the people of that country. Today this country has gradually started to reach a higher peak of development. Financially they are becoming strong. Proper use of time and appropriate policies are playing an important role for the development of the country. It is now clear that the economy of their country is developing day by day after they legalized Bitcoin. Every move they make around Bitcoin is now leading to success. Various benefits have already been provided for Bitcoin in that country. Bitcoin enthusiasts flock there from different parts of the world. In terms of economic development, El Salvador is going to be an example for the world in the near future.

Also chivo wallet is not related to any form of CBDC fiat digital currency wallet, chivo wallet is a bitcoin crypto wallet that is an online wallet but they have every tendencies to send their assets to a decentralized non custodial wallet for more safety, and through this end, you can also make use of the lightning network features to use your personal wallet to perform such functions than relying on the custodial chivo wallet.

Chivo Wallet is custodial, so it seems to me that many issues of moving assets inside the wallet can be solved right inside it. And yes, a direct exchange between BTC and dollars is possible directly inside the wallet. It is clear that LN is not the solution to all questions in general. I believe that in this particular case, LN coupled with Chivo Wallet probably made short-term fee increases relatively harmless for El Salvador. At least during this time we have not seen any news to the contrary.