El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 78.

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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.
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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.

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

El Salvador is truly a Bitcoin country. It is really surprising that the country is so interested in Bitcoin. Property can be rented in exchange for bitcoins. And merchandise can be purchased in exchange for bitcoins. There are some stores that do not accept Bitcoin. Even if you want to smoke, you can get it in exchange for bitcoins.

It would be strange if in a country where bitcoin is a legal tender it would be impossible to pay with it freely. That's what it was all about, right? So that people can use all the possibilities of bitcoin as widely as they can, and the state strives to spread the word about the possibilities and benefits of using bitcoin. And the arrival of large players like Bitfinex will only increase the number of opportunities.

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El Salvador is truly a Bitcoin country. It is really surprising that the country is so interested in Bitcoin. Property can be rented in exchange for bitcoins. And merchandise can be purchased in exchange for bitcoins. 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

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Quote from: NicNacCoin

El Salvador is a country in Central America. Everyone knows America, but no one knows El Salvador in the heart of America. But since the day Nayib Bukele legalized Bitcoin in his country through creative thinking, it has been published in various media channels and social media. But EL Salvador has gained a lot of status in the world book today due to popular media channels and social media writing for them. Maybe very soon El Salvador will rise to the pinnacle of development in the world for Bitcoin.

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.

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Quote from: mendace on April 14, 2023, 02:18:08 AM

The process of inserting Bitcoin in El Salvador is just a ploy to have more control over the country through the incentive to use the Chivo Wallet, it's just a big advertising campaign. Did you know that incoming transactions to an address belonging to the Chivo Wallet if they come from a coinjoin are blocked and reported? Do you think this translates into financial freedom as Bitcoin should be or in control of your privacy?

How about not using Chivo wallet? Unlike a CBDC, this is real Bitcoin, nobody is forcing you to use the State sponsored wallet.

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El Salvador is a country in Central America. Everyone knows America, but no one knows El Salvador in the heart of America. But since the day Nayib Bukele legalized Bitcoin in his country through creative thinking, it has been published in various media channels and social media. But EL Salvador has gained a lot of status in the world book today due to popular media channels and social media writing for them. Maybe very soon El Salvador will rise to the pinnacle of development in the world for Bitcoin.

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Quote from: Wiwo on April 13, 2023, 10:11:37 PM

Truth be told, President Nayib Bukele have done well in the area of bitcoin promotion and awareness within that country with his initiative to ensure financial inclusion of El Savadorians who have being at the centre of discussion since the El Salvador Bitcoin adoption on October 21st 2021 his consistent drive to promote Bitcoin has been the centre point of El Salvador Bitcoin development and increase in the adoption of bitcoin among El Salvador citizens.

Seeing the various promotional materials and other projects that are supporting the Bitcoin adoption and it usage within El Salvador and the transport sector have become one of the sector of El Salvador economy that is pushing the visibility pf Bitcoin to the public with the various Bitcoin logos on most taxis and buses within El Salvador.

The process of inserting Bitcoin in El Salvador is just a ploy to have more control over the country through the incentive to use the Chivo Wallet, it's just a big advertising campaign. Did you know that incoming transactions to an address belonging to the Chivo Wallet if they come from a coinjoin are blocked and reported? Do you think this translates into financial freedom as Bitcoin should be or in control of your privacy?

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Quote from: Popkon6 on April 13, 2023, 06:34:54 PM

-snip-

From this media, I learned that new products are often being produced in El Salvador. Bitcoin has been the talk of the town since it gained massive popularity in El Salvador, which is producing a variety of high-speed cars to attract people from all over the country.
And El Salvador is cleaning up the city nicely because Nayib Bukele has taken various measures to attract tourists. I respect all these activities of Nayib-Bukele. This is the only country in the world that has been recognized as a tax-free country after legalizing Bitcoin. And tourists from different countries travel to El Salvador on the rise. About 30% of people at home are ready to travel to El Salvador.

I can say that El Salvador is quite successful in implementing Bitcoin as legal tender in their country. The positive results of their Bitcoin adoption, such as tourism which has increased by 30%, their growing economy, a more secure and competitive financial system, and many other benefits, are proof of their success. Even though according to many parties Nayib Bukele's step in adopting Bitcoin was quite careless, but I think it is very good for El Salvador because they can achieve some good things for their country and even the name of El Salvador is becoming better known globally.

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Quote from: Popkon6 on April 13, 2023, 06:34:54 PM

From this media, I learned that new products are often being produced in El Salvador. Bitcoin has been the talk of the town since it gained massive popularity in El Salvador, which is producing a variety of high-speed cars to attract people from all over the country.
And El Salvador is cleaning up the city nicely because Nayib Bukele has taken various measures to attract tourists. I respect all these activities of Nayib-Bukele. This is the only country in the world that has been recognized as a tax-free country after legalizing Bitcoin. And tourists from different countries travel to El Salvador on the rise. About 30% of people at home are ready to travel to El Salvador.

Truth be told, President Nayib Bukele have done well in the area of bitcoin promotion and awareness within that country with his initiative to ensure financial inclusion of El Savadorians who have being at the centre of discussion since the El Salvador Bitcoin adoption on October 21st 2021 his consistent drive to promote Bitcoin has been the centre point of El Salvador Bitcoin development and increase in the adoption of bitcoin among El Salvador citizens.

Seeing the various promotional materials and other projects that are supporting the Bitcoin adoption and it usage within El Salvador and the transport sector have become one of the sector of El Salvador economy that is pushing the visibility pf Bitcoin to the public with the various Bitcoin logos on most taxis and buses within El Salvador.

Popkon6

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From this media, I learned that new products are often being produced in El Salvador. Bitcoin has been the talk of the town since it gained massive popularity in El Salvador, which is producing a variety of high-speed cars to attract people from all over the country.
And El Salvador is cleaning up the city nicely because Nayib Bukele has taken various measures to attract tourists. I respect all these activities of Nayib-Bukele. This is the only country in the world that has been recognized as a tax-free country after legalizing Bitcoin. And tourists from different countries travel to El Salvador on the rise. About 30% of people at home are ready to travel to El Salvador.

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Quote from: NicNacCoin on April 12, 2023, 06:42:36 PM

The most important is breaking news. Bitcoin bonds issuer Bitfinex granted full license. Everyone was waiting for this bonds sanction and finally it was implemented. In this implementation this El Salvador has won and will always be on the side of Bitcoin.

source

After I read the news about the El Salvador government granting Bitfinex Securities the needed license to operate in El Salvador. What came to mind is that is country like the US, China, etc. are not careful with their negative stance against Bitcoin El Salvador may be the most respected country for innovative technology and cryptocurrency.

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Quote from: alexkut987 on April 12, 2023, 11:38:01 PM

This means that businesses and individuals in the country can use Bitcoin to pay for goods and services, and taxes can also be paid in Bitcoin. The move has generated a lot of interest and debate around the world, as it represents a significant step forward for cryptocurrency adoption and could have implications for other countries considering similar measures.

In addition to this as a step forward that has been successfully carried out by the government of El Salvador in recent years, the government of El Salvador is also still trying to eradicate the gang problem that exists there in order not to disrupt adoption which is already running better. And Nayib Bukele also said that in his tweets in the past twelve hours where El Salvador's security achievements are unprecedented in the history of modern mankind.

In addition, El Salvador's President Nayib Bukele asked the country's congress Wednesday to extend the emergency decree to resume the crackdown on gangs, which are hugely popular among El Salvadorans. Congress has voted to renew emergency powers a dozen times, bringing the crackdown into its second year. Source: apnews.com

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Quote from: Patrol69 on April 13, 2023, 12:47:12 AM

El Salvador imposes a lot of oversight on Bitcoin. And CBI is trying to bring home the Citizenship by Investment program for investment.

Under the leadership of President Nayib Bukele, the decision to create legal tender in Bitcoin was made almost two years ago only to increase the economic capital of their country. But many experts say El Salvador could be taking too many economic risks to launch the program.
But launching such a large program must take risks. If they can complete this program successfully then the economy of their country will change a lot.

This opinion is good for those of us who support the steps taken by Nayib Bukele. Maybe those who reject Bukele's economic concept think that this decision is very risky.
If taxes are no longer burdensome and investors can get several other conveniences, then I feel it will not be difficult for El Salvador to go far with this CBI concept.

I want to quote here what is CBI which I took from bitcoinmagazine. The CBI program allows capitalism to be applied to government services.^[1]

More here.

Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 78. (Read 43241 times)