Topic: What does this go to prove in cryptocurrency? (Read 157 times)
If there is a law regarding btc. Then we can be protected from fraud then this is the kind of news we should celebrate, but if the existence of a law on btc can complicate our development and limit our activities with btc, then just get rid of the law. Because many officials like to make laws whose end result is to facilitate their attacks on beautiful people.
I must say that this is quite a risky move but is also something that has to be taken in order to make way for further innovation. And I applaud the leader of el Salvador for taking the risk. I know for sure that the first few weeks or months would be hellish adjustments for most of the people there who aren't even familiar with this industry yet but it will all be worth it when big mining businesses and other crypto related businesses start flocking in to this country. The economical benefits are just too amazing. I am pretty sure that a lot of leaders are keeping an eye over the progress of this situation. Some may probably be taking steps already to do just the same as the leader of el Salvador.
Countries with strong and stable fiat may never encourage it as to be a legal tender, they will just regulate it as assets then only they can out taxes and make money out of it.
True, but the world will change over time. It will take some countries to be the first in the new world order. Adapting as the first is always harder than the other countries who will follow later. El Salvador was pegged to the USD, so didn't really have a chance to control their own fiscal situation, now with bitcoin it will be similar. All they are looking for is financial stability and I really hope bitcoins are ready to do it.
Countries with strong and stable fiat may never encourage it as to be a legal tender, they will just regulate it as assets then only they can out taxes and make money out of it.
This goes beyond stable fiats and all. Its actually bitcoin being brought to the table and seeing how it could help. Being viewed objectively instead of subjectively. Instead of negativity, its being viewed for the good it can bring, for what it could do and who knows, a lot more would be discovered by the multitude of persons that could turn to bitcoin for investments amongst other uses.these are the types of news that we have to celebrate a lot, if we look at the many years of existence of bitcoin we rarely hear this type of news
Yeah, I agree with you. El-Salvador is out to lead the way for a new era in bitcoin, just as Musks was leading at a time before it became an agenda to actually accumulate sats and pump Dogecoin. Sadly for him, the world knows better now than to be all in on Elon Musks tweets. But this one is different, its a nation actually incorporating bitcoin for a legal tender and an actual case study for the rest of the world to key in on its progress and if it does better, we can only hope for more and more adaptation. 
these are the types of news that we have to celebrate a lot, if we look at the many years of existence of bitcoin we rarely hear this type of news because in the bitcoin community there are not many influential politicians capable of being able to pass laws that are good for bitcoin and without good laws for bitcoin we will always be doing only hodl or then trade on anonymous exchanges that ask for KYC that we don't even know where they put our documents. the truth is that we need good laws for this cryptocurrency market so that we are protected against scams and against this unfairness of doing KYC on exchanges anonymously and with anonymous owners
Countries with strong and stable fiat may never encourage it as to be a legal tender, they will just regulate it as assets then only they can out taxes and make money out of it.
They're attracting mining farms to operate into their country and as well as other crypto businesses to start their own headquarters. They're showing the world that they're very much open to cryptocurrencies and that will have a huge impact to their economy.
The money that flows in crypto is quite huge and they cannot ignore it which will benefit them if they're already established.
The money that flows in crypto is quite huge and they cannot ignore it which will benefit them if they're already established.
El-Salvador Makes History
For a centralized system and government to accept bitcoin for a legal tender. Not minding te fact that, bitcoin is decentralized and not very suitable for task and all.
The government of El-Salvador in a Congress having 84 possible votes did vote for the passing into law the acceptance of bitcoin for a legal tender (Being excahnege of goods and services) for the technological able enterprises.
Source: https://www.google.com/amp/s/www.bbc.com/news/world-latin-america-57398274.amp
This is the dream and wish of every crypto enthusiast. It is a liberating move for the people of El-Salvador and I believe other countries of the world who follow soon.
It seems Paraguay is following suit with a new proposed bill of their own:
https://www.coindesk.com/paraguay-may-be-next-to-seek-crypto-businesses-with-july-bill
El-Salvador Makes History
For a centralized system and government to accept bitcoin for a legal tender. Not minding te fact that, bitcoin is decentralized and not very suitable for task and all.
The government of El-Salvador in a Congress having 84 possible votes did vote for the passing into law the acceptance of bitcoin for a legal tender (Being excahnege of goods and services) for the technological able enterprises.
Source: https://www.google.com/amp/s/www.bbc.com/news/world-latin-america-57398274.amp
This is the dream and wish of every crypto enthusiast. It is a liberating move for the people of El-Salvador and I believe other countries of the world who follow soon.
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