Topic: Will El Salvador become the "Home of Bitcoin"? - page 4. (Read 970 times)
will el salvador be the home of bitcoin, i think it is still too early to say el salvador is the house of bitcoin, even though el salvador has legalized bitcoin, i think there is still a lot of work to be done by el salvador, to deal with any pressure that comes from other parties ,
this is a very good step, because el salvador has legalized bitcoin, and already plans to make bitcoin a legal currency, but if you make el salvador the home of bitcoin, i don't think it's time yet, because considering el salvador is a small country, el salvador definitely can't do much, because it will definitely get pressure from developed countries,,,
El Salvador wont be the Home of Bitcoin. It is just a small country. It's not like America, Japan and Singapore etc. The economic foundation is not strong either. It should be that the government has given more consideration to the economic benefits that crypto investors will bring to this country. It is difficult for us to judge whether this is a long-term implementation policy or it will change in next five or seven years.
We never knew mate , Because they are the experimental country that goes adopting Bitcoin as their Legal tender so this is very early to tell if they will become the home of bitcoin or not.we have to observe and look the long term effect and besides the adoption just happened weeks ago .
Lets wait and see for at least year or so before finally tell that they are the Home or not.
El Salvador wont be the Home of Bitcoin. It is just a small country. It's not like America, Japan and Singapore etc. The economic foundation is not strong either. It should be that the government has given more consideration to the economic benefits that crypto investors will bring to this country. It is difficult for us to judge whether this is a long-term implementation policy or it will change in next five or seven years.
Your post is really funny. Here you are comparing El Salvador with Singapore and claiming that the former is a small country. For your information, the resident population of El Salvador is double that of Singapore and even the diaspora population is equal to the total population of the latter country. But I agree that in terms of economical strength, Singapore may be ahead. But that doesn't mean that the situation will remain just like that for the next few decades. The president (Nayib Bukele) has implemented a string of popular reforms. Crime rate has decreased and the economy is surging. And on top of that, they are the first country to officially recognize Bitcoin as the legal tender, and this will guarantee their future economic growth.
El Salvador wont be the Home of Bitcoin. It is just a small country. It's not like America, Japan and Singapore etc. The economic foundation is not strong either. It should be that the government has given more consideration to the economic benefits that crypto investors will bring to this country. It is difficult for us to judge whether this is a long-term implementation policy or it will change in next five or seven years.
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. 
El Salvador adopt bitcoin as a legal tender because they dont have their own currency but it doesnt mean it will become the home of bitcoin. Its just that you can freely use bitcoin there whatever transactions you made as long as the recipient is willing to accept it and thats the advantage if you live in that country and you're a crypto enthusiast. We know some countries are still not open to adopt bitcoin because it is decentralized which cant be controlled. They rather create their own crypto that can be controlled than to adopt btc, thats what I think. 
Not El Salvador or any country will become home of bitcoin, because bitcoin is not depended to any government or country actually that's what decentralization means. In the other hand, El Salvador doesn't have the enough power and enough potential for it. Many miners from China and other other countries are moving to another countries but I guess El Salvador will not be a destination for the miners. However, since the government shows positive signals to bitcoin and bitcoin miners, there will be a better situation for miners comparing to the similar countries.
I agree that no single country will be the home of Bitcoin, because Bitcoin cannot be controlled by anyone. That's why Bitcoin is getting support
so quickly, imagine Bitcoin is only 11 years old but its development is very fast. This is because decentralization is needed by a lot of people,
because Bitcoin can provide what fiat cannot. This is what makes Bitcoin increasingly popular today, El Salvador is indeed very open to Bitcoin,
so it can be the right destination for big miners. Hopefully what El Salvador is doing can be followed by many countries, so that Bitcoin can grow
even more.
I agree with those who say it's hard to happen. El Salvador isn't an independent country. It fully relies in foreigner income to maintain themselves. As we can see they use dollar and don't have a national income, more than 20% of the country's income come from other countries and more recently they made a partnership with China, receiving investements from the asian country.
A country so dependent on others can't become bitcoin's home, because bitcoin demands independency and autonomy (and a plentiful source of energy as well, what I think El Salvador doesn't have).
Actually, after seeing the partnership between El Salvador and China something started smelling really bad. I don't know how bitcoin would fit on that situation. A bitcoin friendly country involved with a country which banned bitcoin.
A country so dependent on others can't become bitcoin's home, because bitcoin demands independency and autonomy (and a plentiful source of energy as well, what I think El Salvador doesn't have).
Actually, after seeing the partnership between El Salvador and China something started smelling really bad. I don't know how bitcoin would fit on that situation. A bitcoin friendly country involved with a country which banned bitcoin.
Not El Salvador or any country will become home of bitcoin, because bitcoin is not depended to any government or country actually that's what decentralization means. In the other hand, El Salvador doesn't have the enough power and enough potential for it. Many miners from China and other other countries are moving to another countries but I guess El Salvador will not be a destination for the miners. However, since the government shows positive signals to bitcoin and bitcoin miners, there will be a better situation for miners comparing to the similar countries.
Probably they will become the home of bitcoin since they're the only one who accept bitcoin as legal tender, and once other countries implement such way as well because of el savador views, then they all need to give credit and accept the fact that el savador is not just the home of bitcoin wherein the paradise of crypto currency, because you know there's alot of crypto in the market that has a good technology like bitcoin, so in the future i know when el salvador become successful surely they will add another crypto as a legal tender as well.
While I am more sided with the "it's still to early to tell," I am still a bit leaned on agreeing that El Salvador will be the home of bitcoin this is because it was the first to openly announce its great support for Bitcoin and altcoins maybe in the future. Which means that El Salvador will be the very first country becoming an official go-to place for crypto businessmen or fleeing crypto enthusiasts. This will go down in history and will be a huge advantage even when other countries decide to follow the steps of El Salvador.
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.
Once El Salvador's involvement on bitcoin's become successful, considering that they are the first country that officially regulated the use of bitcoin and other crypto, there's a high chance that it will be declared as the first home of bitcoin. Actually, it is still too early to tell since El Salvador just recently gave life to their plan. Those other countries haven't tried doing the same thing yet because they are well aware of the risk they will meet once they commit on it. They are playing safe and now that El Salvador made a move, they can use it as a guinea pig to see if it is really effective on improving a country's economy. 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 no. El Salvador may even abandon its bitcoin decision after a while. Because it has a very dangerous side. Countries like America, England cannot survive if they do not support bitcoin.
Why do you think El Salvador will abandon its decision and what is the dangerous side you are talking about, if they allow a pseudo transparency currency, the government could monitor every transaction made and most probably they will be providing their centralized wallet and why you think that US and UK cannot survive without Bitcoin. I just want to know your thoughts behind this statement. 
Being the first country to accept Bitcoin as a legal currency, this put El Salvador on the light compared to other countries. This may be the primary reason why it can be called “Home of Bitcoin”, but as soon as other countries follow its footstep, which is still in question of happening, the title would most likely be fought for and certain criteria will be set forth.
it is only natural to give a title to an institution especially a country that has made a good contribution to bitcoin so that it is given an unwritten title and becomes the talk of the crypto community as a "bitcoin house" which is appropriate and is no problem.the contribution made by the state of elsavador is very commendable not only as a term but can indeed be used as a good example for other countries. because of this good example, if it transmits to other countries, then the crypto community is clearly lucky because the price of bitcoin will be able to increase amid prices that are indeed being corrected
Well to say that El Salvador is better than nothing is quite pejorative in case there were some special requirements of rank to be the first country to adopt bitcoin, come on! that according to the use of bitcoin in what it represents as a revolutionary idea, there is no better candidate than El Salvador, in fact it happened thanks to the revolutionary idea of a new leader with vision.
And in general, politicians who stop being political and want to have revolutionary thoughts and ideas are left alone, it is really not that easy for any country to make the decision of El Salvador, in that sense that 20 more countries like El Salvador adopt bitcoin, the Status Quo of the country that does it doesn't really matter.
And in general, politicians who stop being political and want to have revolutionary thoughts and ideas are left alone, it is really not that easy for any country to make the decision of El Salvador, in that sense that 20 more countries like El Salvador adopt bitcoin, the Status Quo of the country that does it doesn't really matter.
Being the first country to accept Bitcoin as a legal currency, this put El Salvador on the light compared to other countries. This may be the primary reason why it can be called “Home of Bitcoin”, but as soon as other countries follow its footstep, which is still in question of happening, the title would most likely be fought for and certain criteria will be set forth.
Not only El Salvador but i think Japan too is making bitcoin a legal tender too. Bitcoin is widely accepted as a currency in Japan. Hopefully, El Salvador will be considered a home for bitcoin since there are a lot of bitcoin users who are planning to migrate in El Salvador wherein they can make use of bitcoin freely whether to purchase goods or services or just keep it as a good source of investment. And what is making it a good news is the expectations that more countries will follow El Salvador's bitcoin path.and Tanzanian President Suluhu Hassan told the country's chief financial officer to set up cryptocurrency, and for now there will definitely be pros and cons to accepting bitcoin as a legal payment in every country, and as time goes on we don't know the progress.
From the very beginning El Salvador announced to the world that it accepted Bitcoin as a legal tender, I believe many countries are starting
to pay attention to what El Salvador is doing. Finally my guess started to come true after several countries started to follow in El Salvador's
footsteps. As you mentioned Paraguay and Tanzanian have started accepting Bitcoin, this is a very good thing and hopefully as more countries
start accepting Bitcoin, it will push the Bitcoin price even higher.
If the implementation in El Salvador will show positive feedback from its citizens, I believe, other nearby countries will really follow their footsteps.
But it is too early to identify El Salvador as the "Home of Bitcoin", because we need also to clarify what entails to be recognized as such.
And it is good for the btc market if other countries will follow thru. That means more adoption and so it will influence the price of btc in the market.
In the next coming years, let's hope that there will be more countries that will openly accept crypto.
The way I understood it, things don't officially change until September, I believe. That's when everyone would be compelled to accept BTC.
In Japan, anyone is free to choose whether they accept BTC as payment or not. In El Salvador, the law will effectively mandate that you must accept BTC if you have the means to. Also, any resident of El Salvador will be able to pay their taxes in BTC, which I'm not sure you can do in Japan.
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 In Japan, anyone is free to choose whether they accept BTC as payment or not. In El Salvador, the law will effectively mandate that you must accept BTC if you have the means to. Also, any resident of El Salvador will be able to pay their taxes in BTC, which I'm not sure you can do in Japan.
It is obvious that we feel excitement since the country of El Salvador accepted bitcoin as a legal tender.
We have also noticed that other countries in Latin America have shown interest in following in his footsteps. But I think it will be something as spontaneous as what is happening with business owners and industries such as a Spanish Brewery called Cerex: 🇪🇸
We have also noticed that other countries in Latin America have shown interest in following in his footsteps. But I think it will be something as spontaneous as what is happening with business owners and industries such as a Spanish Brewery called Cerex: 🇪🇸
Quote
Cerveceria Española uses cryptocurrey as a means of payment
The extrematuran brewery Cerex has integrated the option of paying in Bitcoin, Ether and USD Coin into its online shop.
https://www.europeworldnews.com/cerveceria-espanola-uses-cryptocurrencies-as-a-means-of-payment/
https://twitter.com/CervezaCerex/status/1410250234052108288?s=19
The extrematuran brewery Cerex has integrated the option of paying in Bitcoin, Ether and USD Coin into its online shop.
https://www.europeworldnews.com/cerveceria-espanola-uses-cryptocurrencies-as-a-means-of-payment/
https://twitter.com/CervezaCerex/status/1410250234052108288?s=19
Being the first country to accept Bitcoin as a legal currency, this put El Salvador on the light compared to other countries. This may be the primary reason why it can be called “Home of Bitcoin”, but as soon as other countries follow its footstep, which is still in question of happening, the title would most likely be fought for and certain criteria will be set forth.
Not only El Salvador but i think Japan too is making bitcoin a legal tender too. Bitcoin is widely accepted as a currency in Japan. Hopefully, El Salvador will be considered a home for bitcoin since there are a lot of bitcoin users who are planning to migrate in El Salvador wherein they can make use of bitcoin freely whether to purchase goods or services or just keep it as a good source of investment. And what is making it a good news is the expectations that more countries will follow El Salvador's bitcoin path.and Tanzanian President Suluhu Hassan told the country's chief financial officer to set up cryptocurrency, and for now there will definitely be pros and cons to accepting bitcoin as a legal payment in every country, and as time goes on we don't know the progress.
Being the first country to accept Bitcoin as a legal currency, this put El Salvador on the light compared to other countries. This may be the primary reason why it can be called “Home of Bitcoin”, but as soon as other countries follow its footstep, which is still in question of happening, the title would most likely be fought for and certain criteria will be set forth.
Not only El Salvador but i think Japan too is making bitcoin a legal tender too. Bitcoin is widely accepted as a currency in Japan. Hopefully, El Salvador will be considered a home for bitcoin since there are a lot of bitcoin users who are planning to migrate in El Salvador wherein they can make use of bitcoin freely whether to purchase goods or services or just keep it as a good source of investment. And what is making it a good news is the expectations that more countries will follow El Salvador's bitcoin path. Jump to: