Topic: Will El Salvador become the "Home of Bitcoin"? - page 3. (Read 970 times)
IMO, I think It depends on your definition of the word "home" Let's have a look at the situation recently El Salvador government was adopted Bitcoin as legal tender despite the warning of the International lending agencies like WorldBank, But besides that turn out of events we cannot say that El Salvador is a new home of Bitcoin because Bitcoin is a decentralized digital asset so technically Bitcoin are everywhere as long as there is an internet connection and people used or stored Bitcoins in their wallets Bitcoin exist, so Bitcoin home is not just in one place but almost in the entire planet.
El Salvador is now the first country in the world to embrace Bitcoin as legal tender. This is good news for Bitcoin and cryptocurrency in general, because it increases mainstream adoption and demand like skyrocket. China's recent crackdown on Bitcoin, could force miners to move to other countries with a friendly stance towards it. El Salvador could see an increase in miner's interest as China and other restrictive countries lose luster in the world of crypto. Of course, the impact won't be that much because El Salvador is a third-world country. Yet, it's something better than nothing.
What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.
What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.
My honest answer would be no, El Salvador would not be "home of Bitcoin" because El Salvador isn't an influential and powerful country to begin with. Frankly speaking, El Salvador's move to adopt bitcoin as a legal tender made mass adoption quicker. It made a positive impact to the bitcoin community since a lot of countries were slowly following their steps in risking in bitcoin. However, to be acknowledged and entitled as "home of Bitcoin" is just too heavy for their capabilities as a country. Not that I am belittling El Salvador, but we are aware that it is a third-world country - it has lesser to offer compared to the first-world countries that are soaring high. El Salvador made a power move, but it is not enough to be called such heavy title. Maybe we can acknowledge them as the one of the firsts countries who braved cryptocyrrency introduction and adoption in their country.
We hope so too, although currently receiving some rejection from various countries in the world, it will become the home of bitcoin in the country of el salvador, thus the pessimism of investors can be less treated by what is done by the el salvador country how to adopt bitcoin as currency money that is legal in their country, and we hope this will actually happen
- The bitcoin standard of one small country cannot sway the views of other countries, bitcoin can clearly still only be legally wrapped in EI Salvador while we need are more public displays of ability in the international arena. The title with the noble name of bitcoin's home town is finally just a small piece of news, instead of seeking the legitimacy of a small country, I like the larger vision and perspectives of countries like China and the United States
What does the home of Bitcoin mean when Bitcoin carries with it anonymity from the first block and Bitcoin is decentralized.
El Salvador was the first legal Bitcoin user, a country that views Bitcoin as a peer-to-peer currency. More countries will choose bitcoin alongside other currencies.
El Salvador was the first legal Bitcoin user, a country that views Bitcoin as a peer-to-peer currency. More countries will choose bitcoin alongside other currencies.
They'll be because they are the first to adopt and legalize bitcoin, I can only imagine how this country will improve as their move will result in better opportunities for investment and other online activities that would generate taxes for them.
El Salvador is a small country with a small population, so this is really helpful for them.
They are pro-crypto because their government supports crypto and that will fast track their economic growth.
El Salvador is a small country with a small population, so this is really helpful for them.
They are pro-crypto because their government supports crypto and that will fast track their economic growth.
They are the first to make Bitcoin as the legal tender, but Bitcoin was legalized in countries such as Japan many years ago. The move by El Salvador didn't had any impact in the market, as the FUD from China crashed the prices. Unless some of the big names move to El Salvador, or expand their business to include that country, I also don't expect any big impact. As far as the market is concerned, the size of the market in El Salvador is very small (at least when compared to the markets in countries such as US and China).
They'll be because they are the first to adopt and legalize bitcoin, I can only imagine how this country will improve as their move will result in better opportunities for investment and other online activities that would generate taxes for them.
El Salvador is a small country with a small population, so this is really helpful for them.
They are pro-crypto because their government supports crypto and that will fast track their economic growth.
El Salvador is a small country with a small population, so this is really helpful for them.
They are pro-crypto because their government supports crypto and that will fast track their economic growth.
I believe that El Salvador took this step in order to attract attention and tourists. Nevertheless, this move helped Bitcoin to stay on its feet. I suggest you read this article on the pros and cons of the El Salvador Bitcoin law.
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But we may consider Miners transferring their operation in El Salvador and also big traders do the same.since the Bitcoin is now functioning as fiat in that country , i believe that Migration will come soon to that country.
Well with the rate at which they are going and the level of which they are including the use of btc to be legally used for transaction I would say definitely yes, El Salvador is making name and putting itself on the spotlight for the rest of the world to see, one step at a time, the most important thing is recognising btc importance and willing to adopt it for better, secure and faster transaction, this single act can draw the attention of btc lovers who only want to spend btc freely to that country, am soon great economic changes will start happening in El Salvador.
The surprising thing is that this came out of nowhere, I mean if someone had asked me a few months ago which will be the first country to adopt bitcoin as a legal tender I would have never thought of El Salvador as being on the top 5 and yet here we are, this shows their leaders are actually looking at the future and they are doing what is best to their people, if they can match this with friendly regulation to crypto related businesses then we could see a massive amount of money moving to the country.No because there is not such thing as "Home of Bitcoin" in a decentralized currency. It is global and without any home or you could say the whole world is the "Home of Bitcoin".
What El Salvador did is only going to put them ahead of everyone else in the world in bitcoin adoption timeline.
It is difficult for any country to escape the law of the jungle. El Salvador is just a small country and cannot represent the mainstream of the world. It is more like the first person to eat crabs. It has indeed successfully attracted the attention of the world. If there is no Bitcoin, I don’t know. The existence of this country may be due to my ignorance. Bitcoin is distributed, decentralized and has no center. Perhaps El Saldova wants to use Bitcoin to develop the local economy and attract more miners to use their clean energy. What El Salvador did is only going to put them ahead of everyone else in the world in bitcoin adoption timeline.
Well Japan has made Bitcoin as legal tender as well,
Japan accepted bitcoin as a legal way of payment not a legal tender. There is a small difference that someone explained to me recently but I still can't explain it myself El Salvador is now the first country in the world to embrace Bitcoin as legal tender. This is good news for Bitcoin and cryptocurrency in general, because it increases mainstream adoption and demand like skyrocket. China's recent crackdown on Bitcoin, could force miners to move to other countries with a friendly stance towards it. El Salvador could see an increase in miner's interest as China and other restrictive countries lose luster in the world of crypto. Of course, the impact won't be that much because El Salvador is a third-world country. Yet, it's something better than nothing.
What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.
The fact that the president is making so much effort into making bitcoin the number one payment method in the country, and moving it to the digital age is an inspiration, sure El salvador is not one of the biggest countries that are powerful, and to be honest i didn't even know it existed up until now, and to see how people all over the world are talking about it, puts it under the spotlight and makes people want o know more about, will it become the bitcoin capital the answer is no ,because bitcoin is decentralized and can't be confined to one place, but it gives motivation and inspiration to other small and big countries to follow its steps. What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.
I think they have already become. Maybe it's not really a house, but a shack.
EI Salvador governments and central bank already created a better opportunities for Bitcoin users. They already set up serval bitcoin mining and ATMs in his country. Early September they functionally will start Bitcoin uses. 
We hope so too, although currently receiving some rejection from various countries in the world, it will become the home of bitcoin in the country of el salvador, thus the pessimism of investors can be less treated by what is done by the el salvador country how to adopt bitcoin as currency money that is legal in their country, and we hope this will actually happen
I was wondering if the electricity cost in El Salvador would actually catch an interest from the Bitcoin miners. Until I found this https://www.google.com/amp/s/www.independent.co.uk/life-style/gadgets-and-tech/el-salvador-bitcoin-mining-volcano-b1863065.html%3famp
This could be a revolutionary move from the country like El Salvador if they could really provide a clean and renewable energy source. This won't just attract Bitcoin miners, but could attract even more investors as it will counter the FUD about how Bitcoin mining consumes too much energy.
Let's give it a few years for this country to develop to be considered as a "Home of Bitcoin".
This could be a revolutionary move from the country like El Salvador if they could really provide a clean and renewable energy source. This won't just attract Bitcoin miners, but could attract even more investors as it will counter the FUD about how Bitcoin mining consumes too much energy.
Let's give it a few years for this country to develop to be considered as a "Home of Bitcoin".
It would be incredibly hard to convince these people to go to El Salvador no matter how green or cheap the energy is. El Salvador is still not the most politically stable countries. Miners are mostly thinking long term and will not want to set up shop in a country that still doesnt entirely have its shit together.
I would love to see miners go to El Salvador, as long as it works for THEM!
Well with the rate at which they are going and the level of which they are including the use of btc to be legally used for transaction I would say definitely yes, El Salvador is making name and putting itself on the spotlight for the rest of the world to see, one step at a time, the most important thing is recognising btc importance and willing to adopt it for better, secure and faster transaction, this single act can draw the attention of btc lovers who only want to spend btc freely to that country, am soon great economic changes will start happening in El Salvador.
The surprising thing is that this came out of nowhere, I mean if someone had asked me a few months ago which will be the first country to adopt bitcoin as a legal tender I would have never thought of El Salvador as being on the top 5 and yet here we are, this shows their leaders are actually looking at the future and they are doing what is best to their people, if they can match this with friendly regulation to crypto related businesses then we could see a massive amount of money moving to the country. 
I was wondering if the electricity cost in El Salvador would actually catch an interest from the Bitcoin miners. Until I found this https://www.google.com/amp/s/www.independent.co.uk/life-style/gadgets-and-tech/el-salvador-bitcoin-mining-volcano-b1863065.html%3famp
This could be a revolutionary move from the country like El Salvador if they could really provide a clean and renewable energy source. This won't just attract Bitcoin miners, but could attract even more investors as it will counter the FUD about how Bitcoin mining consumes too much energy.
Let's give it a few years for this country to develop to be considered as a "Home of Bitcoin".
This could be a revolutionary move from the country like El Salvador if they could really provide a clean and renewable energy source. This won't just attract Bitcoin miners, but could attract even more investors as it will counter the FUD about how Bitcoin mining consumes too much energy.
Let's give it a few years for this country to develop to be considered as a "Home of Bitcoin".
That's truly an innovative approach from El Salvador. I'm amazed by how a third-world country like El Salvador decided to "step up" and do the right thing for its economy. By adopting Bitcoin as legal tender, the negative effects of Fiat's inflation will have no impact on the country's economy. Using volcanoes as an energy source for Bitcoin miners is a pretty smart move. This could lower electricity costs as we speak, attracting miners from other countries in return. I'd imagine miners flocking from China to El Salvador, making the latter the new "Home of Bitcoin". Who knows what will happen 5 to 10 years from now? Just my thoughts
The home of bitcoin is this earth, looking at it on the positive side, I think we're going to move towards a consensus through some means.
Maybe a future with modern technology will flourish, and I believe blockchain is as important to life as bitcoin in the future.
Maybe a future with modern technology will flourish, and I believe blockchain is as important to life as bitcoin in the future.
There should have been big tech companies that support BTC in the city to make the city home of BTC. There are cities like Miami or Wyoming that's been a leader of finance which I guess could be a home of Bitcoin. Senator Cynthia Lummis had been supporting Bitcoin all the way and she is very open to making Wyoming the center of cryptocurrency like Bitcoin. I think there are better candidate which already have a good marketplace and crowd for adoption.
El Salvador could be one, that's why Bukele promoted their country which attracts BTC companies to have a permanent residence with just 3BTC.
First of all, El Salvador will not become the home of Bitcoin. El Salvador is not a world power and cannot play a leading role in the international mainstream. Second, as the first country to use Bitcoin as legal tender, El Salvador is not mandatory to use Bitcoin. The transaction is optional with the U.S. dollar, which greatly reduces the use of Bitcoin in El Salvador. In the future, it is unlikely that other countries will use Bitcoin as legal currency. Currency is the lifeblood of the country's economy, and the country should not easily hand over control to virtual currencies.This is my personal opinion.
I agree because the country is not fit for it right now maybe in the next years because we have seen how world power changes overtime. However, when we speak as of this moment, even though the whole country will use bitcoins as their means of payment, they only called some country who allowed to use bitcoins. Unlike when we have some major countries that will have some advance technologies and some huge industries in it and they decided to give it a try like what the El Salvador did, then we can say it is the Home of Bitcoin since the trade and popularity will matter when that happened.
if el salvador makes bitcoin the home, i am very sure that developed countries will definitely criticize el salvador, i think el salvador is also not ready to accept criticism from developed countries, because small countries certainly do not have enough mentality and experience or strength to face or reply to criticism made by developed countries, but the step of el salvador who dared to legalize bitcoin, we need to appreciate..
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