El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 74.

wmaurik

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Quote from: Bd officer on May 09, 2023, 09:30:02 PM

The country of El Salvador will be remembered in history. They are the first countries in the world to legalize Bitcoin. Bitcoin has been made the official currency of their country. Businesses are starting to use Bitcoin. School students are also being taught about Bitcoin this step is amazing. To learn about Bitcoin, have to learn. Knowing about Bitcoin alone becomes very complicated.

Not only will it be remembered in history by many countries in this world, but the country of El Salvador will be used as a prime example for other countries who want to adopt Bitcoin as did the country of El Salvador. And not only that will be unique to the country of El Salvador, but tourist attractions, businesses, supermarkets and schools there have made Bitcoin an important thing for them to learn so that all citizens of El Salvador can know Bitcoin thoroughly.

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Given El Salvador's interest in Bitcoin, I think many other countries around the world will be interested in Bitcoin. Bitcoin will gradually become legal in more countries. The media is aware that Bitcoin is being discussed in many countries.

The country of El Salvador has never played around with their interest in building a peaceful country and made El Salvador the first country to adopt Bitcoin in this world so that the authorities in El Salvador are really serious about dealing with this so they get pretty good results from what what they have been doing so far through Bitcoin. Hopefully El Salvador can move forward with the adoption system they have built and have used so far.

sokani

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Bitcoin adoption is really having a tremendous impact on El Salvador as the rate of tourists influx to the nation is constantly on the rise. According to statistics made available by the minister of tourism, Morena Valdez, more than 1 million tourists has visited El Salvador so far this year 2023 against the 725,000 tourists that visited in the last four months of 2022, and the country is expected to receive 2.9 million tourists before the year comes to an end.
Source: https://forbescentroamerica.com/2023/05/04/mas-de-1-millon-de-turistas-llegaron-a-el-salvador-en-lo-que-va-de-2023

Popkon6

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Video link: https://twitter.com/romanmartinezc/status/1655697848028020736?t=tk4fcU8nlpRqz3xUvMbVqQ&s=19

It first started in El Salvador when a group entered Bitcoin education at a small school institution. The team works based on discussions on how to educate people about Bitcoin and use Bitcoin as a tool to fulfill dreams. And succeeds in working. This video shows a small amount of teaching.
This education was introduced last week, I was surprised how well the government of the country introduced the system to teach them about Bitcoin. And in these few days the number of students has increased and success in the work can teach more in future (Bitcoin Teaching Team). Such education system should be introduced in every country.

Aanuoluwatofunmi

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Quote from: LDL on May 10, 2023, 01:23:42 AM

We constantly hear new news about El Salvador, especially since the announcement of Bitcoin legalization on September 25, 2021, Salvadoran President Nayib Bukele is always trying to advance his country in various sectors. In addition to legalizing Bitcoin, de-taxing Bitcoin, including Bitcoin in the education sector, bonding on Bitcoin, and tax-exempting all forms of technology have already been implemented in groundbreaking ways.

https://twitter.com/nayibbukele/status/1656023895571406850?s=19

Salvador already upgraded CCC+ from CC
Salvador already upgraded B+ from B-

News cover:
https://www.latinfinance.com/daily-briefs/2023/5/8/fitch-upgrades-el-salvador-after-local-debt-swap
https://tradingeconomics.com/el-salvador/rating

El-Savador is rather doing well with bitcoin as it receives more applaud on how it handles it credit and bitcoin adoption, this is coming from from JP Morgan, El-Savador receives credit as it settles it creditors while maintaining bitcoin investments.

JP Morgan made a statement concerning El-Savador bond that they are of investment grades, which indicates suitability for any category of investors to fit in by an average El-Savadoran, and the traditional institutions (government/IMF) are giving complement on this entire experience with bitcoin adoption in El-Savador and it's ability to deal down it's credit well to a reasonable extent from it creditors, maybe the season of it attacks and insults are getting over gradually with the public as bitcoin remains unstoppable and decentralized.

LDL

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We constantly hear new news about El Salvador, especially since the announcement of Bitcoin legalization on September 25, 2021, Salvadoran President Nayib Bukele is always trying to advance his country in various sectors. In addition to legalizing Bitcoin, de-taxing Bitcoin, including Bitcoin in the education sector, bonding on Bitcoin, and tax-exempting all forms of technology have already been implemented in groundbreaking ways.

https://twitter.com/nayibbukele/status/1656023895571406850?s=19

Salvador already upgraded CCC+ from CC
Salvador already upgraded B+ from B-

News cover:
https://www.latinfinance.com/daily-briefs/2023/5/8/fitch-upgrades-el-salvador-after-local-debt-swap
https://tradingeconomics.com/el-salvador/rating

Bd officer

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Quote from: Popkon6 on May 09, 2023, 05:07:47 PM

Recently I came across a news article teaching about Bitcoin. First, it taught 120 students about Bitcoin and opened their wallets. If you want to fight in life, you must fight with Bitcoin. (If you want to fulfill your dream then you must accept bitcoin and bitcoin is the biggest tool in the fight). And Bitcoin is getting help from different places in this teaching situation. And this teaching method is very good for me.

The country of El Salvador will be remembered in history. They are the first countries in the world to legalize Bitcoin. Bitcoin has been made the official currency of their country. Businesses are starting to use Bitcoin. School students are also being taught about Bitcoin this step is amazing. To learn about Bitcoin, have to learn. Knowing about Bitcoin alone becomes very complicated.

Given El Salvador's interest in Bitcoin, I think many other countries around the world will be interested in Bitcoin. Bitcoin will gradually become legal in more countries. The media is aware that Bitcoin is being discussed in many countries.

Popkon6

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Recently I came across a news article teaching about Bitcoin. First, it taught 120 students about Bitcoin and opened their wallets. If you want to fight in life, you must fight with Bitcoin. (If you want to fulfill your dream then you must accept bitcoin and bitcoin is the biggest tool in the fight). And Bitcoin is getting help from different places in this teaching situation. And this teaching method is very good for me.

_act_

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https://i.imgur.com/easlZgA.jpg
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Mi Primer Bitcoin, a nonprofit program in El Salvador, has gathered more than 1 Bitcoin in donations. However, these donations haven’t come from venture capitalists or investors, but rather from altruistic supporters of Bitcoin education across the globe, facilitated through the lightning network.
more News

You do not have to repeat the post that someone has already made. It is just eight post away to your post. Check what I posted there.

https://bitcointalksearch.org/topic/m.62194133

Mr.corol

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Fitch has upgraded 🇸🇻 El Salvador's credit rating 👀

Despite what the IMF says, adopting #Bitcoin seems to be paying off 🙌

Source

Ahli38

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Quote from: 348Judah on May 04, 2023, 11:22:10 AM

This is just coming as another goodnews to mark a new phase of technological advancement in El-Savador as the president, Nayib Bukele just signed a bill into law for a tax free regime on softwares, app programing, computer hardwares, communications, Artificial Intelligence and all other technological innovations that constitute information and technology (ICT) under digital network and technology in El-Savador.

https://twitter.com/nayibbukele/status/1654121271548866560?t=oWb5HFFQhhOMJKkWbpK_qg&s=19

Another step of progress was made there in El Salvador through its president Nayib Bukele. And I think this policy will invite more investors to the country. And this will also make industrial growth in the field of Technology Innovation increase rapidly. Residents there were once again given convenience by signing the law on the abolition of taxes for income, property and capital gains in the field of technological innovation.

I really appreciate every step taken by Nayib Bukele. Because actually these policies can really make people's economic growth better. And aren't these steps also enough to spoil the community and business actors there? Even so, there are always positives and negatives from every policy. but from this step I see there will be more positive things going forward in El Salvador.

Ryu_Ar1

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Quote from: Who is John Galt? on May 04, 2023, 04:15:54 AM

Francisco Gavidia University conducted a survey among Salvadorans about whether they use bitcoin. 69.9% of the respondents have never used it, 14.5% used it once, 8.2% said they used it repeatedly. At the same time, only 5.8% answered that they do not trust bitcoin at all. It seems that these numbers speak of the failure of bitcoin promotion in El Salvador, but it turns out that bitcoin is not competing with bank cards, 94.7% of citizens prefer to use cash. At the same time, 62.9% of Salvadorans have never ordered anything via the Internet. And if you look at the whole picture, it turns out that there are quite a few bitcoin skeptics in the country, and not so few interested in the new technology.

In this condition, reflecting on the condition of bitcoin which of course requires a process, I think this is quite reasonable, especially with conditions where they have to do something new with which they did not even recognize before, so it is clear that this needs a long time to make bitcoin acceptable.
Fiat control is still very large in this case and people's dependence on it is clearly certain to occur so that when long-standing habits are changed then of course things like this will not be accepted easily.
The outlook is reasonable because something as new as bitcoin and with its obvious risks will not be accepted easily but looking at the state of bitcoin development I think it is only a matter of time.

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Quote from: 348Judah on May 04, 2023, 11:22:10 AM

This is just coming as another goodnews to mark a new phase of technological advancement in El-Savador as the president, Nayib Bukele just signed a bill into law for a tax free regime on softwares, app programing, computer hardware, communications, Artificial Intelligence and all other technological innovations that constitute information and technology (ICT) under digital network and technology in El-Savador.

Just as I mentioned before the issue of tax holiday is not to be debated in such a situation as of El Salvador Bitcoin programs, this is widely expected and for the president to have been smart enough to make a separate policy for that make him more appealing to his followers most especially those looking to invest in Bitcoin-related development for the long term, since with this public policy it will become legal policy that will outlive Nayib Bukele tenure as the president of El Salvador.

I have always know that the president will sign this into law to further ease the burden on start-ups in the ICT industry and also to motivate new comers into adopting digital content and service provision that could help the mainstream usage of Bitcoin within the economy.

So congratulations to El Salvadorians on having a free trade zone for as long as possible, and I hope there will adequately take advantage of this opportunity and make something good for themselves in the long run.

bangjoe

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Quote from: Zanab247 on May 04, 2023, 12:04:45 PM

Quote from: 348Judah

This is just coming as another goodnews to mark a new phase of technological advancement in El-Savador as the president, Nayib Bukele just signed a bill into law for a tax free regime on softwares, app programing, computer hardwares, communications, Artificial Intelligence and all other technological innovations that constitute information and technology (ICT) under digital network and technology in El-Savador.

https://twitter.com/nayibbukele/status/1654121271548866560?t=oWb5HFFQhhOMJKkWbpK_qg&s=19

Nayid Bukele is doing what is giving El Salvador citizens joy because, he has done so many things to the land of El Salvador to make others countries know that there is a financial increase in BTC. I believe those things he just signed into law will really help the youths to do so many things that will bring progress to their digital business in the country. Based on what he did to made BTC legal in the El Salvador, I guess their parliament will approve the bill on time to improve so many things in the country that will make their president to receive another honor from this development.

I think this is a Bitcoin adoption speed strategy in the community in economic fighting, of course people who have businesses in El Salvador are better to use bitcoin and build and accelerate the progress of the technology industry, because they do not have taxes related to technology, we can already describe Clearly where the direction of President Nayib Bikele's thinking is for the progress of his country in accelerating the increase in technological innovation in the country he leads.
Although basically he sacrificed state income from taxation he eliminated in this sector, but it was a better step for a while until they were able to create great technological innovations to be sold to the world by carrying Bitcoin as a means of transaction.

Zanab247

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Quote from: 348Judah

This is just coming as another goodnews to mark a new phase of technological advancement in El-Savador as the president, Nayib Bukele just signed a bill into law for a tax free regime on softwares, app programing, computer hardwares, communications, Artificial Intelligence and all other technological innovations that constitute information and technology (ICT) under digital network and technology in El-Savador.

https://twitter.com/nayibbukele/status/1654121271548866560?t=oWb5HFFQhhOMJKkWbpK_qg&s=19

Nayid Bukele is doing what is giving El Salvador citizens joy because, he has done so many things to the land of El Salvador to make others countries know that there is a financial increase in BTC. I believe those things he just signed into law will really help the youths to do so many things that will bring progress to their digital business in the country. Based on what he did to made BTC legal in the El Salvador, I guess their parliament will approve the bill on time to improve so many things in the country that will make their president to receive another honor from this development.

348Judah

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This is just coming as another goodnews to mark a new phase of technological advancement in El-Savador as the president, Nayib Bukele just signed a bill into law for a tax free regime on softwares, app programing, computer hardwares, communications, Artificial Intelligence and all other technological innovations that constitute information and technology (ICT) under digital network and technology in El-Savador.

https://twitter.com/nayibbukele/status/1654121271548866560?t=oWb5HFFQhhOMJKkWbpK_qg&s=19

_act_

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Bitcoin crowdfunding is Lightning: El Salvador school program hits 1 BTC in donations

According to how I understand this, it is about a donation using bitcoin lightning network, it reach 1BTC in just 3 weeks. People donated across the world, especially from Venezuela, Poland and Canada as people are sending in satoshis.

Quote from: Who is John Galt? on May 04, 2023, 04:15:54 AM

[It seems that these numbers speak of the failure of bitcoin promotion in El Salvador, but it turns out that bitcoin is not competing with bank cards, 94.7% of citizens prefer to use cash.

Bitcoin is never a failure, it is not created for competition. It is just an alternative and for investment.

Who is John Galt?

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Francisco Gavidia University conducted a survey among Salvadorans about whether they use bitcoin. 69.9% of the respondents have never used it, 14.5% used it once, 8.2% said they used it repeatedly. At the same time, only 5.8% answered that they do not trust bitcoin at all. It seems that these numbers speak of the failure of bitcoin promotion in El Salvador, but it turns out that bitcoin is not competing with bank cards, 94.7% of citizens prefer to use cash. At the same time, 62.9% of Salvadorans have never ordered anything via the Internet. And if you look at the whole picture, it turns out that there are quite a few bitcoin skeptics in the country, and not so few interested in the new technology.

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Quote from: Z-tight on April 28, 2023, 06:11:05 AM

They cannot go that far, or else they would risk ruining their economy, there isn't any country without a fiat currency, and even though i don't think any country is going to do that, but it surely cannot be a 'poor' country like El Salvador. The only thing i am sure of about El Salvador is that BTC is a legal tender in the country and it has helped to attract BTC tourists and enthusiasts, as for their BTC buys, i am not too sure about that because we can only rely on Tweets of their president on it.

Why would that "ruin their economy"? Is it because not many people in the region know how to use Bitcoin? There are plenty of merchants and/or businesses accepting BTC as payment method, so I don't think there will be a problem ditching the USD in favor of BTC. The Government of El Salvador can provide the necessary education to help spur Bitcoin adoption within the region. If you mean that the IMF and world governments (especially the US) will oppose such a decision, then yes, they will do it without a doubt. But El Salvador is a sovereign country, so it can do whatever it wants.

It's only been almost 2 years since BTC was made legal tender in El Salvador, anyways. Time will tell us whenever the experiment will fail or become a huge success that will make other countries envious. Just my opinion

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Quote from: retreat on April 30, 2023, 11:07:16 AM

Quote from: Doan9269 on April 29, 2023, 05:26:48 AM

Taxation will not be a difficult task to achieve in El-Savador because they will always ensure to put down effective policy measures down in favour to both the government and the people of the country, once the percentage levied isn't much to how they can bear then i think it will bot be a problem, i can remember that of India 3% taxation which they made effective on their people despite they had offered nothing back to the citizens in return for the taxation fee payment, El-Savador had done so well that even the people believe it will do justice in considering them accordingly with tax issues.

High taxes will certainly be burdensome for crypto businesses because it will not only burden businesses, but also users, because of course businesses will charge higher fees to their users to be able to cover the taxes they have given to the government. The government of El Salvador is certainly aware of this and I believe that they have understood that both businesses and users do not want to be subject to high taxes for their crypto transactions and holdings. And it seems they're fine with being taxed too, but only if it's not too high and this tax is used for important things and on target, because El Salvador is a small country, so if this tax isn't used properly by the government it's going to be very impactful and the level of public trust in the government will also certainly decrease.

I think for any government who is looking to encourage its citizens into adopting technology or currency such as Bitcoin, will certainly make provision for tax holidays for its citizens in the sense that El Salvador will make policies that will constantly exempt its citizens from paying taxes on Bitcoin transactions unless for the regular bitcoin blockchain fees, and I am sure that for El Salvador to have made Bitcoin legal tender and also went further to gift a $30 airdrop for citizens who download and use the government approved Chivo wallet will certainly make it free for bitcoin to be exempted from taxes for a while.

And also when you build a free trade zone for businesses, such as the El Salvador government did with the building of the bitcoin city, it makes it free for businesses that involve Bitcoin to be free from all taxes and this is to encourage wider Bitcoin usage and acceptance within the country.

So the issue of taxation is far from being a challenge for Bitcoin users in El Salvador for now.

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Quote from: Doan9269 on April 29, 2023, 05:26:48 AM

Taxation will not be a difficult task to achieve in El-Savador because they will always ensure to put down effective policy measures down in favour to both the government and the people of the country, once the percentage levied isn't much to how they can bear then i think it will bot be a problem, i can remember that of India 3% taxation which they made effective on their people despite they had offered nothing back to the citizens in return for the taxation fee payment, El-Savador had done so well that even the people believe it will do justice in considering them accordingly with tax issues.

High taxes will certainly be burdensome for crypto businesses because it will not only burden businesses, but also users, because of course businesses will charge higher fees to their users to be able to cover the taxes they have given to the government. The government of El Salvador is certainly aware of this and I believe that they have understood that both businesses and users do not want to be subject to high taxes for their crypto transactions and holdings. And it seems they're fine with being taxed too, but only if it's not too high and this tax is used for important things and on target, because El Salvador is a small country, so if this tax isn't used properly by the government it's going to be very impactful and the level of public trust in the government will also certainly decrease.

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