Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 90. (Read 38982 times)

There is big saying that the Bitcoin adoption within the country have failed. The major reason being the lack of awareness and education about bitcoin. This is a needed move from the government to create a textbook on bitcoin. People who are not into bitcoin too might get into bitcoin usage once after going through the textbook. The country is going a planned track, because it missed something at the beginning with the expectancy of market to be bullish. Now the country is correcting itself which is good for the future.

I was trying to see the real scope of usage of the book, wondering specifically if it is material that is being used at schools throughout the country, or whether on the other hand the scope is delimited for some reason or other.

As far as I’ve managed to make out, the image shows pages from a book called "Diplomado en Bitcoin", which verses on the following topics:

1.   Introduction: The Monetary System
2.   Consequences of FIAT money
3.   History of money
4.   What is Bitcoin?
5.   Wallets and the Bitcoin Network
6.   Double Spend and Nodes
7.   Security and Mining (where the image is taken from)
8.   The Value of Bitcoin
9.   Lightning Network and the Future
10.   End Project Delivery and Evaluations

See: https://twitter.com/MyfirstBitcoin_/status/1541924747293908993

Now the book is part of the material that the NGO Mi Primer Bitcoin is using to run their Bitcoin Diploma program in El Salvador. The program currently has been imparted in a single school for over 10 weeks to 38 public high school students, and is currently undertaking the task in a second school.

The goal is to eventually roll out nationwide next year, though I figure going from pilot test to full scale roll-out will be a massive quest, and I’ve yet to see how feasible it will be and, above all, if they can get the government to chip into the project from multiple angles.

El Salvador Launches BTCitcoin Textbook. (̶◉͛‿◉̶)

El Salvador is slowly bringing Bitcoin into every corner of their country. Following their plan to build Bitcoin city, they recently announced the release of a Bitcoin textbook.
El Salvador has continued to introduce Bitcoin into education, which is a hugely important step forward.
Bitcoin education for students is essential for them to understand Bitcoin technology as well as the benefits that Bitcoin brings them in the future.



https://twitter.com/stacyherbert/status/1568649600294350849

agreed, it is not the main problem of this country presently.
main is fight against insecurity and violent crime in the country, and good points are done.

Based on the image data people will find that El Salvador have lost everything, because the valuation went high above and now valued far low. This is the common understanding, but the core behind it needs to be valued. The country stands high as the first to adopt bitcoin as legal tender, It keeps updating its plans and it has cleared that what is being termed as loss by majority of the people doesn't even constitute 0.1% of their budget.

Bloomberg published an article dedicated to the anniversary of the announcement by President Bukele of bitcoin as a means of payment in El Salvador. And although this step, according to experts and opinion polls, did not become a panacea for the country, and according to the IMF (where without it) worsened the situation in El Salvador, in my opinion, the main result has been achieved, which is that now every Salvadoran knows about bitcoin and sooner or later it will bring positive results.
The article indicates an interesting fact that when trying to offer a settlement in bitcoin when buying on any market in El Salvador, the buyer faces insults rather than a desire to sell something to you for bitcoin, well, apparently this is the fate of all pioneers at which stage of adoption bitcoin is now in El Salvador, rather at the stage from bargaining to depression and most likely not far from acceptance.

Source: https://www.bloomberg.com/news/articles/2022-09-03/el-salvador-had-a-bitcoin-btc-revolution-hardly-anybody-showed-up
Archive: https://archive.ph/BXhr0

bitcoin stands on it own and does not need any support to het regulated by government, the network built for it is sustainable enough with blockchain technology, that's why it is totally decentralized, meaning no go government or entity can be able to exercise control or authority over the digital decentralized currency (bitcoin).


internet now is no longer a barrier anymore, you can make bitcoin transaction without internet through the use of your mobile by dialing codes and following the prompt response, the likes has started already in Africa.

Bitcoin is still Bitcoin forever, but the decentralized system "may" threaten the economic factors managed by the government so that it is associated with political tone or whatever to reduce public interest in cryptocurrencies, the government oversees the growth of bitcoin in its country and releases regulations on the use of cryptocurrencies are limited and even prohibits it for activities any. Bitcoin has grown naturally as people get used to decentralized systems and comparing government economic systems but both are necessary for the economy, so I don't think there's anything to argue about.

Bitcoin have always been the best alternative currency, Bitcoin is not a replacement for traditional currency. And again as a borderlesss payment system Bitcoin have an independent network that can operate from any where as long as the user is connected to the blockchain via the Internet, so Bitcoin can co exist with any currency and as an alternative Governments are becoming more aware of the role of Bitcoin within the economy and Bitcoin impact on the financial life of there citizens, in the present time Bitcoin have gain a lot of recognition from government and studies and research are on going by countries to know how to balance the economy with the reality of having a decentralized currency like Bitcoin within the country.

I think it is very important to reecho this hard truth that Bitcoin has no political agenda. Although most economic decisions have some political undertone, Bitcoin has no intention of unsettling political officeholders and filling their positions with Bitcoiners. Just like we have cash payment and online payments, Bitcoin and fiat would continue to be alternative means of payment or investment. There are people in my locality that would never use the ATM or online payment channels, they prefer to go to the banking hall to pay in or withdraw fiat. Hence, there would always be both fiat supporters and Bitcoin believers.    

There is no need to argue too deeply with people who have different views on Bitcoin. Because you will not find a wise answer from such a person, especially if that person always wants to make his stance right even though in reality it is wrong. So no need to waste your time telling about Bitcoin to those who don't like it because they will continue to hate you. But tell about Bitcoin to those who want to hear every explanation you put out.

Precisely the uniqueness of bitcoin lies here, we do not need to agree or otherwise with the views of others, but the rhetoric that we convey still boils down to the actual reality, where bitcoin is always in the same function and dimension (Unlike those who don't like bitcoins)

If they want to be honest (Third Party), it's not that they don't like bitcoin, but that they don't know where to start with the desired approach. The proof is that there is not a single third party that actually prohibits bitcoin and crypto from circulating under their leadership. Even though if you study it, they can limit and block every site related to bitcoin or crypto, they only make dictions that don't like or are not friendly with bitcoin, but at some point they also don't close these two things, or who can guarantee, that they don't invest in bitcoin, aren't all forms of identity well preserved in the current investment system.
Then the question arises, blocking sites or those related to bitcoin is not a solution, because it can still be accessed via a VPN, there is another, more extreme way, third party banks do not accept remittances of any kind related to digital currencies.

In this case I am quite agree, it is certain that the rules in the future will change, when everyone is more aware and a third party will see potential problems that can be solved with bitcoin, I am sure and optimistic that it will be better In the future, because of awareness to accept something new, it must require the right time, so people do not abuse new things.

Everyone must have the aim to enter the investment room, if not the same as carrying money in the wrong place, because in investing there must be advantages and losses experienced, depending on people who take steps and strategies.
For me personally, this is not a problem in terms of reporting wealth and tax obligations, as long as the rules made can protect and bring benefits to those who report. Their task is to guarantee and protect, while we provide obligations (balance)

I think bitcoin is simple, the highest authority that controls any risks that arise is ourselves, both protecting finances and leakage of identity (privacy), of course when people know how to protect and maintain security, they will be more careful, this reflects the someone's ability to put things right, not to be careless and not to do anything dangerous.

Hopefully our discussion will not be widen and thank you for serving me, in this long discussion.
Respect to you master

Sometimes I stop to wonder what become of Bitcoin if the government forced a close down on it because of the hostile perceptions of some government if China can have such a black law against Bitcoin it goes a long way to point to how the situation will be if other countries and continents decide to place a total ban on Bitcoin or cryptocurrencies. But with the recent developments that we have witnessed around the world were countries are now developing the own digital currencies even though it is highly centralized but at least it is a pointer to one fact that governments around the world are beginning to to notice of Bitcoin and are trying to build their own currency to run on blockchain but on a different chain. So that point to the fact that Blockchain is gaining global adoption and it all as a result of Bitcoin persistent growth being a the first speculative digital currency on the blockchain, and seeing countries like El Salvador adopting Bitcoin also goes a long way to boost the positive energy towards Bitcoin and we should have a long term developmental frame work around bitcoin and blockchain becuase their both go hand in hand.

Am sure this is also one of the fear stirring the minds of those in government, they think bitcoin in a long term if successful could render their power and influence less effective of which is true, but despite this fact i don't think it will be an eliminator to government for live, why because bitcoin only controls the major financial aspect of individuals away from the negative influence of banks and government as centralized body against user's privacy, but a decentralized digital currency like bitcoin wouldn't cover up some other roles in which the government serve such as community planning, conflict resolution, health care services, law enforcement, weather forecast, natural epidemics and control, population control and many other physical obligations in which are the areas where the government has been in control of with the engagement of service to humanity, what bitcoin has majorly targeted is in giving a lasting solution in the area of our finances from centralized bodies and i think that is achieved already.


thank you for your response here, but what i meant here is that government cannot bend to comply with a decentralized network like bitcoin in the sense that even if majority were to adopt bitcoin they still feels insecure since it's not within their system of control, that's why you discover a country like Central African Republic introducing Sango coin aside bitcoin as project which they can have dominion over it affairs still under the coverage of bitcoin adoption which is totally wrong, it's not that governments all over the world can't adopt bitcoin as a legal tender, their fear is the decentralization which they have nothing to manipulate about because Satoshi has already made a done deal for us in that with the protocols of blockchain technology.

I question your assertion here, Doan9269.

I understand the theory that bitcoin can serve as a system that is separate from government; however, I have a lot of doubts about whether it is really practical to plan our lives forward as if bitcoin is going to cause the elimination of government any time soon (if ever).  For sure there are some folks who believe that humans can interact without government - which to me seems like a pie in the sky perspective regarding the role that bitcoin is likely to play in either the near term future or some projected longer-term future.

To me, it seems way better to try to deal with the world of bitcoin from the place where we are at rather than projecting some kind of utopian separation in which bitcoin causes the disappearance of government or bitcoin is able to exist in a world that is separate from government, and even if various governments were to take hostile stances towards bitcoin and to push bitcoin underground, I have my doubts regarding separate systems existing in some kind of meaningful way.

I continue to believe that bitcoin is likely going to ongoingly inspire a variety of institutions, persons and governments towards improving their systems - because there are sound money principles within bitcoin that are likely going to contribute towards inspiring better systems throughout society, and for sure, it is really difficult to figure out how long it is going to take for bitcoin to cause great societal transformations because it is almost inevitable that various status quo systems (persons, institutions and governments) are not going to change without going through some battles to either battle against bitcoin or to battle against various possible bitcoin weak points whether individual users or miners or developers and/or other places that weak points are detected., and even though bitcoin seems to be designed in such way to anticipate various kinds of attacks, we cannot necessarily presume that systems will develop in ways that are detached from the wishes of current status quo incumbent players (whether individuals, institutions or governments), and even if various of these institutions and individuals are changed because of bitcoin, it seems unlikely that bitcoin would go on in some kind of way that is totally detached from the wishes of people (whether they are individuals, governments or institutions).

To me, it just comes off as a strange framework to suggest that bitcoin is going to create a whole new system and everyone just has to come along with it, even though in the end, something like that is going to be happening in terms of the seemingly objectively fair ways that bitcoin allows for incentive systems that seem to be better than incentive systems within current monetary debt laden systems... and gosh we are likely not going to get rid of debt either, even if there are likely going to be continued ongoing battles around the space including likely ongoing shaking out of individuals, institutions and/or governments trying to create systems in which they do not have the bitcoins that they claim to have.

No and that's the truth about it all, no way a decentralized network can work inline with government and get controlled by them and still remain decentralized, which implies all the protocols about bitcoin and blockchain are going to be rendered less effective.


if they had thought about benefiting from bitcoin they would have adopted it long time ago, the tax you see they collected is like to instill labour on bitcoin entities but still yet it does not stop the progress and way forward over adoption, are there not much companies out there that does not pay tax regularly and are still running fine.


they can but you know what? they won't, let's be real hear when ee don't like something we try all possible means to always go against it, especially if not in our disposition, same is the case of bitcoin vs government.


all these does not work with a decentralized digital currency like bitcoin which has it own protocols that works against the standard of government, their lines can not meet at any point.

I have studied diplomatic relations and international politics and i have come to terms with the fact that eveey president have his own jurisdiction and right even though there are in a global economic system, El Salvador being a supreme state have hard currency changes the first one was in 2001 when the native currency was ditched out for the united state dollar by the then administration, and in 2021 the now El Salvador president thought it right to give a legal backing to Bitcoin in El Salvador. A decision that jave been welcomed with negative response from the external international monetary institutions such as~ IMF~ but rhe government have map out a capital project plains that have long term goals to impact the economy of El Salvador , so the present market condition which many see as a disadvantage to El Salvador Bitcoin adoption does not stop the present administration from pushing to see the success of Bitcoin adoption in El Salvador even though as the President seek re election for another tenure of 4 year which will definitely push further the Bitcoin adoption and completion of many of Bitcoin project such as Bitcoin bond and Bitcoin city which are two important capital project with long term goal for El Salvador struggling economy.

I don't really disagree with anything that you said in your response to me - even though it seems to me that you are expressing different concerns than the ones that I thought that I was attempting to question.

It seems to me that we are not always going to be able to ascribe the goals and tactics of governments in the same ways across jurisdictions because some governments may well consider themselves to be more friendly to bitcoin and others might take a more hostile approach - with all kinds of variations in between, so I was not necessarily trying to categorize the various approaches that governments might take or if there might be some common parameters in which various governments might be treating bitcoin (and/or other crypto currencies when they might end up lumping bitcoin regulation in with the regulation of various other crypto currencies/assets, too).  

Nonetheless, on an individual level, we are likely going to be better off to attempt to assess how we might go forward in terms of how much we might use services that involve third-parties holding and/or controlling our own bitcoin private keys, maybe sharing information with the government and/or even possibly withholding value for taxes.

If we expect to transact and interact with bitcoin for a decently long period of time into the future, we are not necessarily going to know in which ways rules in the future might change (could become more hostile or more friendly towards bitcoin), and even if we do not know all of these factors, we still might want to figure out if there might be ways in which we are going to want to hold some of our bitcoin value away from third-party systems, even if we might still keep some of the value within some kinds of third party systems and we might even want to transact with and within such third-party systems.   

I would not even be attempting to assert that in these times that we might not have some advantages to attempting to maintain a foot in both worlds - but at the same time, there can be risks with how you hold your bitcoin and how you make your interactions in either system (and surely some folks believe that there should be goals to attempt to completely go into the bitcoin world, which could have its own risks and complications if questions might come up about how you are holding and transacting value and questions about whether you have obligations to report your transactions or your wealth.. which can also vary from jurisdiction to jurisdiction and the rules might change in the future too (in either more restrictive or more lenient ways).

It is not necessarily easy to attempt to invest in bitcoin and even to attempt to transact in bitcoin while at the same time trying to protect your finances and/or your privacy in various ways, and surely a decent number of bitcoiners are likely going take the easy way out and hold and transact with their bitcoin through third-party services that may well be leaking personal data or holding the coins of the person who thinks that they have bitcoin when they may ONLY have claims upon bitcoins that may well not even exist.  There is likely no one solution because there still are a decent number of complications in holding your own keys, even if that may well be amongst the most empowering of ways to hold and use bitcoin.

I also have the same view as you, is this third party more inclined to the government as a state stakeholder?
If I don't fail to understand the content of your comment. (Please straighten)
Bitcoin if connected directly to the government will experience discretion, is this possible?
because they never take bitcoin seriously, all they think about is how to benefit from bitcoin adoption, it's not wrong if they think so, but sadly bitcoin is no longer attractive for decentralized system, because they will adopt according to interest.
The government should open up the widest possible space for bitcoin growth, thus bitcoin management will run on the desired path, the more people who take part, the greater the opportunity for state tax revenues to increase.
Important note, the government must make special regulations regarding transaction taxes in crypto or bitcoin, regulations are made based on transactions and convert bitcoins to fiat currencies (Respective Country Currencies), for example each transaction is subject to adjusted tax, tax deductions are made directly by the bank concerned, so that the tax will go to the state treasury, thus the more transactions carried out, the greater the profit obtained.
Especially for my country, currently the Bank has cut every transaction by 10K.

On the other hand, let bitcoin grow, thus fiat currency becomes the most important part of bitcoin journey.

Of course, many would like to be able to come to elsavador not only because the country is friendly by accepting bitcoin as a legal and recognized means of exchange, but we also know that before elsavador was famous for its bitcoin adoption, it is clear that the country is also famous for tourism that has been going well .
but tourism there will continue to be more passionate because it is supported by the use of bitcoin as a tool that can be used in addition to payment instruments that already exist and have been used so far.

That's right buddy, El Salvador has become an icon that really inspires many countries to also want to adopt bitcoin. as you attach in the link you provided, it is clear that many people have predicted that they will also start doing things like al savador.
clearly this is progress that must always be supported and given a very deep appreciation, hopefully it will make bitcoin more known and used to smooth things out.

we will wait in the future there will be more countries that will follow in his footsteps like el savador, welcome to join and make bitcoin more and more trusted.
if you look at your CMC link Fivestar4everMVP, it is clear that America is more dominant in main ranking.