Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 81. (Read 38876 times)

Is good that the majority of the general public in El Salvador is currently being thought and educated in Bitcoin and to this point, diploma certificates have been awarded to some of the citizens who have completed the 6/week bitcoin diploma programs, and another thing is that seeing a non-governmental organization heading and sponsoring this program is a pointer to how the private and other sectors e.g profit and non-profit making organization are motivating the general adoption of Bitcoin which will have a long term positive impact on the growth and success of El Salvador bitcoin project and how the future will be for bitcoin in El Salvador since there is already a forecast of about 250,0000 bitcoin literates in El Salvador and this number will triple in the next few months if the pace of Bitcoin education is consistent in El Salvador.

Probably the most outstanding contribution to free bitcoin education in El Salvador is being carried out by the NGO Mi Primer Bitcoin (My First Bitcoin). We’ve seen their book of this thread, which we can even download in Spanish, and which is a basis for their Bitcoin Diploma program that they are carrying out at schools and alike.

They claim having gone from teaching about bitcoin to 400 students in 2021, to 10.000 in 2022, and are expecting to reach 250.000 in 2023. I figure though that the numbers are not homogeneous in the type of lessons they receive, ranging from introductory level chats for the most, to the more extensive in content and time (ten weeks I believe), and restricted in terms of class quorum Bitcoin Diploma program.

See:
(2022 acomplishment recap) https://miprimerbitcoin.medium.com/an-incredible-year-mi-primer-bitcoins-accomplishments-in-2022-9edd75f83c83
(GT from Spanish into English) https://news-bit2me-com.translate.goog/crece-la-educacion-sobre-bitcoin-en-el-salvador?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp

I will supplement by suggesting that there has been some aspect of education in regards to bitcoin that has been included in El Salvador's bitcoin approach from the start.  First of all the embracing of bitcoin was a way to cause the El Salvador population to need to pay attention to what is bitcoin and what is being added in their country in regards to bitcoin.   Surely the more formal schools and programs have been developing along with the various ways that the government is less formally supporting bitcoin.

It is likely that El Salvador has already been successful in regards to their decision to add bitcoin as a legal tender and also as  a possible payment option and to attempt to incentivize the public to pay more attention to this route forward - even if there has been a decently large UP (up from $30k-ish to $69k) during their initial period of getting into BTC from Mid-2021 to late 2021 and then the current correction (that has so far gone down to $15,479 on November 21, 2022 - which is around 76% correction) that we find ourselves in.

Bitcoin naysayers seem to revel in the extent of BTC's current price correction - and even suggesting that there might be some calamities within bitcoin that are perceptible because bitcoin is even below it December 2017 price peak of $19,666.   Yet, there's no real solid, material and/or convincing evidence that bitcoin's investment thesis is getting worse with the passage of time or that there are any real meaningful challenges to bitcoin - even though we have also witnessed a lot of overleveraging, fraud and perhaps even attacks on bitcoin through the ways that various kinds of players were using bitcoin as a mean to steal money from bitcoiners or to deceive the public - and surely maybe even contribute towards confusion in regards to how much bitcoin should be implicated in regards to how some folks might get greedy or engage in shady or criminal behaviors that are using bitcoin as one of their value liquidation mechanisms - or in the case of FTX, they were engaged in deceptive behaviors to attempt to fool people into believing that they had more bitcoin than they really had.... and so those kinds of behaviors can contribute to how people view (or are confused in regards to) bitcoin.

Ever since El-Savador has adopted bitcoin, there have been always a move to create satisfaction for the people, part of the aspects that got me surprised is in the introduction of education on bitcoin, it's a decision that helps every potential bitcoiners to maximize the opportunity in adoption which will also help in inculcating bitcoin education and the people were ever grateful for such because learning bitcoin in school is a rare privileged they have got served with.

El Salvador 🇸🇻 government has continued to push for grass root adoption of Bitcoin, recently El Salvador government's attention has been focused on education and Bitcoin is the central topic. At first, there was the launch of the Bitcoin diploma program which covers a wide range of topics related to digital asset, blockchain, and the bitcoin POW. But recently the El Salvador Bitcoin Education has been extended to young students to enable them to have early awareness and education about bitcoin and how to easily integrate themselves into the Bitcoin network as an alternative to the traditional financial systems, even as the crypto winter has eaten deep into the country's Bitcoin holding, the government is taking a great step to ensure grass root and community adoption of bitcoin because that is the only means to pave way for the success of El Salvador Bitcoin project which has faced a lot of criticism from various quarters.

El Salvador stands as the root for the planetary change. Everywhere there'll be users who stand in favour of the adoption as well as stands opposing it. The reality comes out of the economic situation prevailing in the country out of the same. For now the downturn of the crypto market have placed El Salvador in a bad position according to market analysts. El Salvador government have cleared it with the data, what is being mentioned as loss by most weren't even 1% of their budget. So, in the long term the seed sown will give the fruits and we shouldn't expect the seed to be sown and the fruits by tomorrow.

OK? maybe, not sure, but it is no less than a planetary challenge...El Salvador opening a new path...with all the difficulties.
a wind of change for latin america..may it succeed..

Is it really going so well? I've seen news from major reporting outlets saying that the adoption had left a massive dent jn El Salvador's economy following the crash of bitcoin's price, so much so that some establishments that were once proudly accepting bitcoin payments ultimately resorted to cash transactions because of how bad they got hit with the crash. Anyhow, I do exoect a turbulent first few years until El Salvador picks its own pace and starts creating a harmonious economy that utilizes bitcoin and fiat interchangeably in multiple manners. Still, this doesn't rid us of the fact that the change caused huge detriments in the short-term for El Salvador

Even without him saying that we already Know things are going well with the adoption since the government can go to this far in making life simple for every of its citizens to enjoy bitcoin adoption without any instill of glitches round about, i was surprised that El-Savador has done this even to the educational level to bring up the young generation along together in this digital era, there's nothing as more helpful than educating the people about bitcoin.


But either being deleted or not the message has already been passed across to the world, bitcoin is the solution to changing status quo.


the funniest thing is that not everyone that believe in El-Savador will be coming out public to say something, alot of them being silent but charming for El-Savador.


i wouldn't know if this tally with El-Savador's bitcoin adoption or any discussion related, i think there's another thread for Brazil.

Will it be possible to use bitcoin as a payment and investment vehicle in Brazil soon?  In any case, this is allowed by the law previously approved by Congress, which was signed on December 22 by Brazilian President Jair Bolsonaro and 180 days after that it comes into force.
 
Source: https://bitcoinmagazine.com/legal/brazil-enacts-bitcoin-payments-bill

Reportedly a few days ago, CZ also tweeted agreeing that El Salvador will become the richest country in the future, but then he deleted that tweet, maybe he doesn't want to create an unworthy Fomo in the market. But I also just found an article: Tim Draper also believes that bitcoin will make El Salvador the richest country in the world.

Although it is all speculation, nothing is impossible. For me, the opportunity remains for El Salvador as they accept bitcoin instead of using USD, which will make them indebted forever.
https://thecoinrise.com/el-salvador-will-become-rich-billionaire-tim-draper/

By the way, the situation of bitcoin education in El Salvador is also making great progress, they are doing well in everything from accepting bitcoins to bitcoin education in their country.

https://morocotacoin.news/america-latina/el-salvador-reforma-educativa-ensenar-bitcoin-blockchain-escuelas/

Am glad to see this update from El Salvador president as this has been long overdue because the Bitcoin bond was expected to have been launched in early 2023 in inline with the El Salvador Bitcoin whitepaper, but due to legislative procedures it has been delayed and it has become an advantage to El Salvador since the price of Bitcoin is around $16k-$17k. So increasing the El Salvador Bitcoin. Holding right now is a good entry price compared to the previous buying price which was a little higher than the current buying price. Tmbut the good news is that, the president mentioned how bitcoin has impacted the El Salvador economy positively and that is a big win for bitcoin as an agent of financial inclusion and liberation. I guess before the Bitcoin bond timeframe of 2025 is over, El Salvador's Bitcoin holding wound has yielded many profits.

https://twitter.com/nayibbukele/status/1600660602107592704?t=Zk-C8XO8xcV6cXxYMUYJ6w&s=19

Am glad to see this come through as part of El-Savador's recent achievements through it bitcoin adoption, the bond has been one of the long awaited steps to take into action and not until this is been accomplished, they have shown to be vigorous and adaptive despite the high volatility in bitcoin to have make something good out of it, I think this as well will be an indication to showcase the success with bitcoin adoption in El-Savador amidst speculations that it has failed, there's definitely no doubt about how they have make utilization of the country's treasury into a profitable investment helping in the settlement of it debts.

awesome effort you put in to update us on the new version of the textbook but as a general, I did not make any attempt to read through the content of the textbook simply because since the textbook is just an NGOs project to promote and educate citizens of El Salvador, it will contain the basic content in Bitcoin which we are already familiar with as members of this forum but the textbook will serve as a basic Bitcoin educational content to citizens of El Salvador.
What is more interesting in readings the El Salvador Bitcoin policy at least, is that will give the whole El Salvador Bitcoin project a framework on which the development and adoption will build on.
Even though the rate of adoption of bitcoin among El Salvadorans is slow right now due to a lack of Bitcoin education among the citizens and a lack of proper government national Bitcoin policy.
if the right information is passed to the citizens as to the benefits of using Bitcoin as a decentralized alternative currency, the rate of Bitcoin adoption will definitely increase because of that. Having an alternative currency that is decentralized without third-party involvement is such a big freedom that El Salvadorans will not reject but there is a need for time for Bitcoin to stimulate the economy in a decentralized manner that will trigger national interest.

You probably should provide some links and/or specifics when you make those kinds of claims.

There are likely both good and bad going on with any kind of new development and something as innovative as bitcoin (adding another kind of currency as an option for people to be able to use).  There are going to be plusses and minuses, but it is not always going to be clear in regards to if you might be describing some correlation matters or causation matters to the extent to which what you describe is even measurable (beyond anecdotal examples).

After seeing the image of the textbook above, I went back to my previous post on the matter and checked the download links I provided. Both are now void, but that seems to be because the book may have had some updates made to its content.

The latest version is available here (committed on the 25/10/2022 – In Spanish):
https://github.com/MiPrimerBitcoin/Diplomado_v3.0/blob/main/Mi%20Primer%20Bitcoin%20-%20Libro%20de%20Trabajo%20(V3.0)%20-%20FINAL.pdf

Just as a refresh the matter, the book is not a of national widespread usage, but rather an NGO’s initiative, being currently used in a very delimited set of schools (as a side project I figure), but with higher goals for 2023.

See: https://miprimerbitcoin.io/en/my-first-bitcoin/

Wow! It looks really promising. Bitcoin education at a national level will make El Salvador the most Bitcoin understanding nation in the world! And I hope they'll get as much benefits from that as possible. El Salvador pretends to be the first not only in making Bitcoin a legal tender but also in everything related to it. Sounds fantastic!

Seen all those results El Salvador government has made available for their citizens, made me to believe that in next few years this country will become the most richest country in the whole world. I believe, this is just the beginning of El Salvador progress for the beautiful step their government made to make Bitcoin legalized in the country, and to create more opportunities for their international investors. This Bitcoin textbook, I believe it will contain some of the things that will make their students to know more about the founder of Bitcoin, and the purpose of Bitcoin to humanity.

Education about Bitcoin will indeed be carried out by those who have legalized crypto and Bitcoin if everything needed by the government is complete and I am sure that several countries that have adopted and legalized crypto and Bitcoin are getting more attention and experiencing progress in their economic sector. Several other countries in the Americas will also make considerations to imitate and follow in the footsteps of El Salvador as happened in the example of Brazil now.

It didn't, Bitcoin is permitted to use in Brazil with this legislation act but not made a legal tender. So companies can accept payments in Bitcoin on their choice but they are not made to do it. IMO it is good as permissive legislation at my point of view is the best way of global Bitcoin adoption. Copying El Salvador's experience for other countries is not mandatory to achieve good results.