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Author Topic: Your Opinion about El Salvador Bitcoin adoption  (Read 10097 times)

Offline Master107

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Your Opinion about El Salvador Bitcoin adoption
« on: July 11, 2021, 06:15:09 PM »
Let us talk about the recent Bitcoin adoption of El Salvador.

Quote
President Bukele has touted BTC adoption as a way to facilitate remittance payments from citizens living overseas and lessen reliance on the U.S. dollar which has been the national currency since 2001

What is your thoughts about the action taken by President Nayib Bukele? Do you like it or not ? Why?

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Your Opinion about El Salvador Bitcoin adoption
« on: July 11, 2021, 06:15:09 PM »

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Offline Cryptoz

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #1 on: July 11, 2021, 11:23:32 PM »
President Nayib Bukele is trying to get the solution for the reliance on the U.S. dollar and choosing BTC can be the proper solution. We must appreciate what the president did, he is choosing something interesting and even other countries are afraid of it. I think president Nayib will be successful with this idea if he can make good management to implement it.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #2 on: July 12, 2021, 01:24:48 AM »
President Nayib Bukele is trying to get the solution for the reliance on the U.S. dollar and choosing BTC can be the proper solution. We must appreciate what the president did, he is choosing something interesting and even other countries are afraid of it. I think president Nayib will be successful with this idea if he can make good management to implement it.
right, at least what is being done is a good breakthrough because by using bitcoin it is clear with the aim of being able to lift the country's economy. because so many people understand bitcoin, they can also look for additions to all transactions in crypto in general.

as head of state he clearly understands that by recognizing bitcoin as one of the legitimate currencies, it also makes it easier for the people to carry out transactions that may have been done so far in the old way which is full of bureaucracy, but with bitcoin it becomes easier because it can be done anytime and every moment. live now of course regulate regulations so that no abuse occurs against bitcoin.
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Offline Master107

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #3 on: July 12, 2021, 04:01:15 AM »
President Nayib Bukele is trying to get the solution for the reliance on the U.S. dollar and choosing BTC can be the proper solution.

Yeah, you said it correctly. We might see negative impact to El Salvador citizens as they are still in adjustment period to practice the new dimension of digital arena.

as head of state he clearly understands that by recognizing bitcoin as one of the legitimate currencies, it also makes it easier for the people to carry out transactions that may have been done so far in the old way which is full of bureaucracy, but with bitcoin it becomes easier because it can be done anytime and every moment. live now of course regulate regulations so that no abuse occurs against bitcoin.

The President is optimistic to pursue his vision from traditional into fresh and relevant high tech transactions that could help the entire citizens doing businesses and so on. I think once the adjustment period end (if successful), may be they are the cryptocurrency world country's standard. One step into giant future.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #4 on: July 12, 2021, 11:37:01 AM »
I think it is a good initiative that Nayib Bukele has taken, but I also think that maybe it has been a bit hasty. The population (most, not all) of El Salvador is not informed or educated about Bitcoin and blockchain, and that should have been the first thing the president should have thought of. My opinion on the Bitcoin Law is positive, but I think El Salvador still has months ahead for this test.
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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #5 on: July 12, 2021, 02:51:57 PM »
Given the downturn of most currencies worldwide, cryptocurrencies are starting to take hold as an alternative, one as accepted years ago, so for sure EL Salvador is seeing the benefits of moving away from its worthless currency situation. So will it affect the country, perhaps, positively it will affect their people too.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #6 on: July 12, 2021, 03:21:12 PM »
I think it is an interesting experiment, but Bukele is also the kind of politician who threatened his parliament with the military to get laws passed. What his motivations are for this is pretty nebulous, in my opinion.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #6 on: July 12, 2021, 03:21:12 PM »


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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #7 on: July 12, 2021, 03:57:55 PM »
What is your thoughts about the action taken by President Nayib Bukele? Do you like it or not ? Why?

Obviously, it’s a great initiative from Nayib and this type of adoption will grow more in the upcoming days. More and more countries will follow the path of adoption sooner or later. That's why i as well as other bitcoiners like the initiative from president Nayib.  :)
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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #8 on: July 12, 2021, 04:28:26 PM »
President Nayib Bukele is trying to get the solution for the reliance on the U.S. dollar and choosing BTC can be the proper solution. We must appreciate what the president did, he is choosing something interesting and even other countries are afraid of it. I think president Nayib will be successful with this idea if he can make good management to implement it.
We know that Bitcoin and other decentralized cryptocurrencies are not meant to be used as national money. With the help of bitcoin, it is almost impossible to plan the country's budget and the development of its economy, primarily because of its high price volatility. Of course, it is very interesting how events will develop further in El Salvador. Here, along the way, a lot of questions arise and I do not know how they will be resolved. In general, I think that no one knows how the economy of El Salvador will work with bitcoin. In my opinion, fiat is indispensable here.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #9 on: July 12, 2021, 05:29:47 PM »
I have no opinion about El Salvador bitcoin. Because this is the first time I've heard of Bitcoin. I have no idea why the market. We have heard a lot about Bitcoin. The main reason for this is that it has become very popular in a very short period of time. Everyone who works with Bitcoin knows that Bitcoin is the king of the cryptocurrency market. But all other coins want to take the place of this bitcoin

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #10 on: July 13, 2021, 09:27:43 AM »
I have no idea about Salvador Bitcoin. I have no idea when Salvador Bitcoin was created or who made it. I have no idea what the market price of Salvador Bitcoin is. Even after working in the market for so long, I have never heard the price of this bitcoin before. Help me find out if anyone has heard.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #11 on: July 13, 2021, 11:24:38 AM »
I have no idea about Salvador Bitcoin. I have no idea when Salvador Bitcoin was created or who made it. I have no idea what the market price of Salvador Bitcoin is. Even after working in the market for so long, I have never heard the price of this bitcoin before. Help me find out if anyone has heard.

If you have no idea about something, you don't need to say so in every post. The forum is full of information with which you can learn from the things we talk about, the network also has a lot of information. Learn the basics about blockchain and cryptocurrencies so that you understand things better. All the information is available to everyone, take advantage of it.
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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #12 on: July 13, 2021, 11:48:19 AM »
-snip-
Because this is the first time I've heard of Bitcoin. I have no idea why the market. We have heard a lot about Bitcoin. The main reason for this is that it has become very popular in a very short period of time.
I hope you continue to update what is happening with the movement and behavior of bitcoin, so it is not impossible that you too will one day find out without being discouraged to continue to study it.

Everyone who works with Bitcoin knows that Bitcoin is the king of the cryptocurrency market. But all other coins want to take the place of this bitcoin
it is certain that many will be tempted to at least be able to replace bitcoin later, but of course this is not an easy job to do. if only with the word "maybe" it will always be possible, but it must be able to meet the criteria in order to replace bitcoin. the closest market cap to bitcoin, ethereum alone may not be easy to do that, even though the opportunity is always available.
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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #13 on: July 13, 2021, 02:16:15 PM »
I think it is a good initiative that Nayib Bukele has taken, but I also think that maybe it has been a bit hasty. The population (most, not all) of El Salvador is not informed or educated about Bitcoin and blockchain, and that should have been the first thing the president should have thought of. My opinion on the Bitcoin Law is positive, but I think El Salvador still has months ahead for this test.

In my opinion, the step take by the president is a welcome idea. The US dollar has been fluctuating do to continuous printing of more dallars leading to inflations, and this situations may continue in the future. Bitcoin is a better store of value, unfortunately, many countries are being afraid of bitcoin overtaken the faits.
Again, whether the president started from educating her citizen about bitcoin and the blockchain, it does not really have impact on the crypto adoptions. The step taken by Mr president was on the best interest of the El salvador economy. I think I support this great idea because Bitcoin has a potential future as a better hedge fund options or store of value than the US dallars.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #14 on: July 13, 2021, 02:30:21 PM »
It's going to bring bitcoin adoption to millions of people who may have otherwise not chosen to engage in the crypto space. This can only be a good thing for bitcoin and for crypto in general.

 

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