Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 93. (Read 43229 times)

It is really just impressive on how El Salvador do make out these huge steps and not really just only good on words or talks but rather they are really that making it happen which is really something commendable.

Its President doesnt really make out these kind of decisions without having those critical thinking on what are the things that would be achieve and what are the things that are on risks.
They've been pretty aware but its not something that do make them stop on what they are trying to achieve despite of the bad condition or situation on the market that we do have today.
It is really just that good that they are really that holding despite of the market condition.

I agree with what you said because no reasonable President will sign into law a monetary system that will damage the economy of his country that's already affected and this is the reason why I said they have understood the importance and the drawback of legalizing Bitcoin in the country. This is the reason why the President partnered with some companies that will provide the needful material that will make the use of BTC for day-to-day transactions flexible.

El-Savador bitcoin education impact comes 2023 targets, they ain't just saying it, but they work by the targets in achieving it, this year already is a starting point while next year is going to be a boom in bitcoin education, something bas well got me more concerned in this as it does not got limited to El-Savador alone but also other countries have followed path in educating their pupils in bitcoin education and a good example is the school in United Arab Emirates UAE in Abu Dhabi where school taught about bitcoin education n their curriculum, so i see no doubt when i come across this below how they can impact as many as these in year 2023 with bitcoin education abd by then, not only El-Savador will be into this but many would have joined in thesame pursuit.


https://twitter.com/BTC_Archive/status/1607791200093831168?t=gFiaIQarsNtRBkWhx-SpxA&s=19

There are still countries that have banned it, so we won't be completely achieving the 100%, and there are still people who oppose it. Though I also noticed here in our country that they are starting to accept bitcoin as a payment method, I saw some with the logo of bitcoin, which shocked me since before you couldn't see anyone unless they posted it on social media. Also, I've noticed here in the forum that more and more small-time business owners are starting to accept bitcoin since it can bring in or attract customers.

Those are some serious developments in El Salvador. They are actually taking the education system and bitcoin collaboration which means Gen Z will be taught about it and they will come wit the extensive knowledge of bitcoin/blockchain if that's added into the text books Someone from El Salvador should tell us more tales about bitcoin in El Salvador to see how they are progressing with this. Isn't that impressive that they are actually trying to put bitcoin sown in the brains of students.What does that mean? I think they will be the generation who will take Bitcoin far more seriously and thus make real use of it. I think El Salvador is gonna keep their promise  and make Bitcoin Hub there. [ Off course, locals shall also accept it in the first place ]

  - What El Salvador did is a really good impact on our crypto enthusiasts, I believe that if they can do it, other countries can do it in the future, maybe not now, but eventually they will surely accept it.

It's just like the country I'm in, it's slowly being accepted here through samll merchants who use wallet apps related to cryptocurrency as a mode of payment. So I think it's only a matter of time before we can get the full 100% mass adoption of bitcoin here.

Before El Salvador president made the announcement concerning the Bitcoin legal tender in the country, showed that they have Carried out all their research to discovered that it will benefit both long term investors and short term investors before they signed it to law in the country. El Salvador president is a graduate who understood digital business very well, because he know that this legal tender will bring something good to the country, that will make their citizens celebrate his government which they did for the new standard environment he built for the citizens to learn more about Bitcoin and how to read some Bitcoin textbooks to improve in Bitcoin investment in the land.

I came across the youtube channel Nicki & James is a couple from New Zealand who moved to El Salvador after bitcoin was legalized there and they regularly post videos about their travels and life in El Salvador with a focus on bitcoin, so you can watch and listen.

https://www.youtube.com/@njelsalvador

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.