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Author Topic: Your Opinion about El Salvador Bitcoin adoption  (Read 10102 times)

Offline Proton

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #15 on: July 14, 2021, 02:36:48 AM »
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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #15 on: July 14, 2021, 02:36:48 AM »

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #16 on: July 14, 2021, 03:45:50 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.

I agree. They are still in adjustment period like a Beta testing to determine the bugs (blind spot, problems) then will fix later on.

El Salvador could be the stepping stone to adopt Bitcoin and improve the weak part during and after implementation.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #17 on: July 14, 2021, 01:09:39 PM »
The World Bank refused to assist them in turning Bitcoin a legal tender, what effect has that had on their plans? Has it caused any trouble at all or they're doing just fine on their own? I haven't heard any details.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #18 on: July 14, 2021, 01:36:08 PM »
The World Bank refused to assist them in turning Bitcoin a legal tender, what effect has that had on their plans? Has it caused any trouble at all or they're doing just fine on their own? I haven't heard any details.

The question I ask myself at this point is whether the government of El Salvador needs the World Bank for something, they may need the World Bank in terms of import and export business or investments abroad, but at the national level I believe that El Salvador has sovereignty over everything it does. They don't give much detail in the news about why they are being denied support.
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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #19 on: July 14, 2021, 02:46:51 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.

I agree. They are still in adjustment period like a Beta testing to determine the bugs (blind spot, problems) then will fix later on.

El Salvador could be the stepping stone to adopt Bitcoin and improve the weak part during and after implementation.

That's right. This is not a simple or easy undertaking... there will be hurdles, but in time it will provide a blueprint for others to follow.


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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #20 on: July 16, 2021, 11:48:12 PM »
There may be people who agree with and are against Bitcoin adoption. ANd it will also influence many parties about the decision. The way that the President takes is good enough and it seems to be friendly, not using power to force the citizen. But he uses something interesting for the citizens to join their program
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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #21 on: July 17, 2021, 11:50:37 AM »
There may be people who agree with and are against Bitcoin adoption. ANd it will also influence many parties about the decision. The way that the President takes is good enough and it seems to be friendly, not using power to force the citizen. But he uses something interesting for the citizens to join their program

Exactly, Nayib Bukele has not forced anyone of course. It is completely normal that some citizens are against the idea of ​​using Bitcoin, but that problem is due to what I said before, to the ignorance and lack of education about Bitcoin and blockchain. If the citizens of El Salvador see with the passage of time that the economy improves for the entire country, I am sure that those fears will disappear. El Salvador now only needs time for everything to start working.
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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #21 on: July 17, 2021, 11:50:37 AM »


Offline Alcor

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #22 on: July 25, 2021, 02:52:08 PM »
There may be people who agree with and are against Bitcoin adoption. ANd it will also influence many parties about the decision. The way that the President takes is good enough and it seems to be friendly, not using power to force the citizen. But he uses something interesting for the citizens to join their program

Exactly, Nayib Bukele has not forced anyone of course. It is completely normal that some citizens are against the idea of ​​using Bitcoin, but that problem is due to what I said before, to the ignorance and lack of education about Bitcoin and blockchain. If the citizens of El Salvador see with the passage of time that the economy improves for the entire country, I am sure that those fears will disappear. El Salvador now only needs time for everything to start working.
El Salvador embarked on a very risky experiment. After all, cryptocurrency as a whole is not designed to become a national currency. In my opinion, first this country should create its own national money and only then, along with it, it could be done. It is very difficult to manage the economy using bitcoin without your own money. However, all this is for the first time and no one knows what will come of it. If Bitcoin passes this test, it will be a huge success for the entire cryptocurrency.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #23 on: July 25, 2021, 03:44:35 PM »
Pictures say more than a thousand words



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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #24 on: July 25, 2021, 03:57:20 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?

Of course, I like it so much.. I hope It will continue and will be followed by many countries.
Elsavador addopt bitcoin is good thing for bitcoin and crypto currency market.
Hopefully bitcoin will be needed at the coming future, and all countries will adopted bitcoin and crypto.
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Offline Freemind

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #25 on: July 25, 2021, 05:42:37 PM »
The picture posted by @Ferki says it all. El Salvador, despite being a small country, has taken a giant step, breaking fear, with a government team constantly working on the Bitcoin Law, they can achieve what many countries have not even dreamed of. And I am sure that many countries will do the same when after a while they see improvements in the country. Everything is a matter of work, patience and time.
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Offline jonathancool220

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #26 on: July 26, 2021, 05:45:04 AM »
The country of El Salvador knows very well what is happening for their future and it seems that its citizens like what is called price surfing in digital assets and they also don't make Bitcoin a currency.
It is very difficult for a country if Bitcoin is made into a currency because Bitcoin cannot be stable in price and Bitcoin can only be used as a digital asset like the country of El Salvador.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #27 on: July 27, 2021, 11:48:35 PM »
Their government has been ready enough and also supports Bitcoin adoption very much. They seem very serious by giving rewards for every citizen that installs a Bitcoin wallet worth $30 in BTC. However, I think that their city is not ready att all. because there is also a fight of citizens who disagree with the Bitcoin adoption. Hopefully, they all will agree

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #28 on: July 28, 2021, 12:17:50 AM »
Bitcoin - like clean water, good roads, or a solid power grid - is for anyone ... Governments can help accelerate construction of that infrastructure, and so create new opportunities for prosperity and financial inclusion.
Governments will not take steps to create or expand the infrastructure for the circulation of bitcoin or other decentralized cryptocurrency. In fact, they do not need cryptocurrency and they will use every opportunity to spread negative information about it. So far, they have been hostile to cryptocurrency, allegedly due to the fact that, in their opinion, it is widely used for criminal purposes, including for laundering dirty money and financing terrorism. Recently, they have picked up the words of Elon Musk that cryptocurrency, and in particular, bitcoin, uses a lot of energy and, moreover, energy with a carbohydrate trace.
Governments will issue their centralized digital money and cryptocurrency will be considered by them only as competitors in the world of finance.

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Re: Your Opinion about El Salvador Bitcoin adoption
« Reply #29 on: July 28, 2021, 06:10:16 AM »
Pictures say more than a thousand words




Definitely. Small step towards a giant footsteps would come.  One step at a time. 2022 would be big companies and countries.

 

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