Your Opinion about El Salvador Bitcoin adoption

[Master107]

Every Bitcoin adoption in a country will give a positive impact on the Bitcoin market itself. Many countries are banning Bitcoin as a currency. But with this statement, I am sure that there is a good thing that happen in that country, by adopting Bitcoin as payment. It will be also good enough when the citizens are ready with the mass adoption

One reason why some countries banned Bitcoin not just because of volatility but the fear to use it to scam their own country men. That's one thing I'm sure. Because the country should protect their citizens from ponzi and scam. Once they will announce the adoption, bad guys will sprout and lour the innocent people.

Exemption to those country whom well prepared before the first day of adoption.

[mlawson71]

True, scams are a pretty serious problem for the cryptocurrency industry. And some countries don't have the resources to deal with them, so they ban it altogether.

[Master107]

True, scams are a pretty serious problem for the cryptocurrency industry. And some countries don't have the resources to deal with them, so they ban it altogether.

Yeah, that's true. Limited resources will become more vulnerable once volatility enter the game. Sudden crash of economy is possible since the country in not advance to adopt the dynamic changes.

[mlawson71]

That is the other concern, I agree. Tying an already vulnerable economy to a currency this volatile, what could go wrong?

[bayiajaib]

Let us talk about the recent Bitcoin adoption of El Salvador.

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 with President Bay b Bukele from elsavador. I think It is good thing for improving and popularity crypto currency at the world.
Hopefully other countries will follow.
Bitcoin and altcoins will have great future. Believe it.

[vegasus]

El Salvador makes people be more trusted in Bitcoin and it can motivate other countries to legalize Bitcoin as well. El Salvador really decides a great thing to make Bitcoin be legal tender, it becomes the first country to do it. I heard that some countries have planned to follow what El Salvador did. They want to make Bitcoin legal tender to make their economic and financial sectors to be better. This is a good sign of Bitcoin future and we must thank El Salvador have started it.

[mlawson71]

If El Salvador's idea proves to be a success, I have no doubt that other countries will adopt Bitcoin as well. But only time will tell whether it will really be a success.

[Freemind]

If El Salvador's idea proves to be a success, I have no doubt that other countries will adopt Bitcoin as well. But only time will tell whether it will really be a success.

Exactly, at this moment El Salvador is a testing bench and is being observed by countries that have a similar economic model. Although El Salvador's plans require a lot of time and education for citizenship, if all goes well and the country improves, I am sure that other countries will follow the same model. Now citizens must be patient, and although there are some detractors, the government has been brave in this step.

[elbans89]

If El Salvador's idea proves to be a success, I have no doubt that other countries will adopt Bitcoin as well. But only time will tell whether it will really be a success.

Me too, if El savador's idea will improve their economic , No worris again. We will see many countries will addopt bitcoin too.
But, I think , no matter about unsucsesfull of this test bench.
But Crypto.will always be there, many investors soul.

[mlawson71]

I think we will have to wait and see whether crypto will improve their economy or just facilitates corruption.

[Freemind]

I think we will have to wait and see whether crypto will improve their economy or just facilitates corruption.

If the addresses that the different government ministries are going to use are well defined as well as those of the politicians, I don't think there can be much corruption since the Bitcoin chain is public. If unknown addresses "appear" that receive income, something strange is starting to happen. As I said, this will be a process that will take time to see how it evolves.

[mlawson71]

I think we will have to wait and see whether crypto will improve their economy or just facilitates corruption.

If the addresses that the different government ministries are going to use are well defined as well as those of the politicians, I don't think there can be much corruption since the Bitcoin chain is public. If unknown addresses "appear" that receive income, something strange is starting to happen. As I said, this will be a process that will take time to see how it evolves.

That's a great point. I really hope they will be completely transparent about the process.

[Master107]

I think we will have to wait and see whether crypto will improve their economy or just facilitates corruption.

If the addresses that the different government ministries are going to use are well defined as well as those of the politicians, I don't think there can be much corruption since the Bitcoin chain is public. If unknown addresses "appear" that receive income, something strange is starting to happen. As I said, this will be a process that will take time to see how it evolves.

That's a great point. I really hope they will be completely transparent about the process.

Congratulations you now know how to quote a message.

Btw, the government may be transparent but not in fully mode to show to the public their entire wealth that they own. Even the politicians has their own agenda to cover up their undeclared tangible and intangible assets.

[pacar_tiri]

Btw, the government may be transparent but not in fully mode to show to the public their entire wealth that they own. Even the politicians has their own agenda to cover up their undeclared tangible and intangible assets.

Of course, government will cover  for strategic, So don't expect the government will share all info.
Several must be keep and be learned to improve other way.
Talking about el savador, we should wait their progress to addopt bitcoin.

[mlawson71]

That is my approach too - "wait and see". It would either be a spectacular success or a terrible failure.