Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Master107 on July 11, 2021, 06:15:09 PM
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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?
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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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.
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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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The World Bank refused to assist them in turning Bitcoin (https://www.forexbrokerz.com/news/world-bank-will-not-assist-el-salvador-to-adopt-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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The World Bank refused to assist them in turning Bitcoin (https://www.forexbrokerz.com/news/world-bank-will-not-assist-el-salvador-to-adopt-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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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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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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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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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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Pictures say more than a thousand words
(https://i.imgur.com/4QVyrCT.png)
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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 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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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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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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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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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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Pictures say more than a thousand words
(https://i.imgur.com/4QVyrCT.png)
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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Progress has definitely been made, I would say, but I still think it's a good idea to be cautious about El Salvador's plans.
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Progress has definitely been made, I would say, but I still think it's a good idea to be cautious about El Salvador's plans.
Logically, El Salvador will find problems along the way that the government will have to solve. Especially with the banks (which have already complained about the Bitcoin Law) but especially with the IMF, they are the ones that can cause more problems inside and outside the borders of El Salvador, especially in terms of import and export or additional taxes. That is why I believe that the worst problems will be found outside its borders.
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I think there will be both external and internal problems. The question is, however, whether they will manage to overcome them. El Salvador is not exactly a rich and powerful country to easily weather such problems.
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I think there will be both external and internal problems. The question is, however, whether they will manage to overcome them. El Salvador is not exactly a rich and powerful country to easily weather such problems.
For that they are beginning to use Bitcoin, to generate more wealth in the country, or at least that is the intention of the government according to the president's statements. Within the country they can also find problems, but maybe they are more focused on the little knowledge of the population about Bitcoin and blockchain, that's something the government should have taken into account some time before.
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This movement of a country like El Salvador is a good move for crypto, but after all, El Salvador is not a well-known and big country. A more robust bull market may occur if larger countries support bitcoin or cryptocurrencies. Let's see which countries will support crypto money.
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What is your opinion on El Salvador's plans then?
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El Salvador has nothing to do with your opinion about accepting bitcoin. I am a new member of this forum. I have no idea about the forum so I can't answer this question.
Instead of saying that, something that does not contribute anything to the forum or to the rest of the users, don't you think you could learn a little to give your opinion together with the rest of the users? Here we come to give our opinions and contribute ideas. Be respectful and polite and read the forum rules please.
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I have no idea about Salvador accepting bitcoin. I have not been able to capture any village from anyone before on this subject. I would be grateful if any senior brother of the forum could help me find out about this. If the senior brothers do not help the junior brothers, then we will not be able to survive
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Very good because it means the adoption of Bitcoin has been recognized in the country of El Salvador and of course BItcoin will become a legal transaction tool in the country of El Salvador and this has an impact on our goodness as cryptocurrency lovers if you want to visit El Salvador then you no longer need to worry about looking for means of payment using Bitcoin.
Simply put, the country of El Salvador will continue to strive to be the leading country in adopting Bitcoin and Bitcoin will make a good digital asset in a country that is President by Nayib Bukele.
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This movement of a country like El Salvador is a good move for crypto, but after all, El Salvador is not a well-known and big country. A more robust bull market may occur if larger countries support bitcoin or cryptocurrencies. Let's see which countries will support crypto money.
although we have to admit that the step taken by a head of state admits bitcoin is a bold step, because he sees the best side for the country, especially for the people to be involved and look for alternative jobs that can be done. Even though I agree, El Salvador is not a country that has known crypto for a long time and it can be seen that there are still many people who do not support the government's steps.
as a leader of a country who wants his country to develop, of course, he must accept things that will happen where not everyone agrees, but this step must be taken for the purpose of progressing the country is very important. hopefully at least the effect of this news will affect countries that have not dared to recognize it as legal tender, and that's a lot.
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In a report released last week, Bank of America analysts said El Salvador's decision to recognize BTC as legal tender could simplify money transfers, facilitate financial digitization, provide consumers with more choices, and open the country to US firms and digital currency miners.
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Thinking about it more deeply now, we have all agreed that EL Salvador has made some move making Bitcoin a legal tender and there has been some resistance even by the citizens over Bitcoins Volatility I would say but I believe now that instead of the Government making Bitcoin to be a legal tender, wouldn't it have been wiser if they, the Government have Invested in Bitcoin just like most of the Bigger organizations and Billioniers do, but as an Investment for the country. I believe that would have been less troublesome for the Government in terms of its relationships with the international community like IMF and World Bank.
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In a report released last week, Bank of America analysts said El Salvador's decision to recognize BTC as legal tender could simplify money transfers, facilitate financial digitization, provide consumers with more choices, and open the country to US firms and digital currency miners.
Some good news for a change! All I was seeing was pushback from various institutions.
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This movement of a country like El Salvador is a good move for crypto, but after all, El Salvador is not a well-known and big country. A more robust bull market may occur if larger countries support bitcoin or cryptocurrencies. Let's see which countries will support crypto money.
Small step could become a giant one. It just a matter of time, understanding, and support from citizens and government. Because it is all about adjustment from old into new dimension of paradigm shifting.
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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
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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.
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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.
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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.
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That is the other concern, I agree. Tying an already vulnerable economy to a currency this volatile, what could go wrong?
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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.
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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.
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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.
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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.
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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.
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I think we will have to wait and see whether crypto will improve their economy or just facilitates corruption.
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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.
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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.
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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. ;) ;D
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.
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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.
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That is my approach too - "wait and see". It would either be a spectacular success or a terrible failure. :D
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I think this is a positive step, btc has started to be trusted as a legal payment by el savador. this proves that crypto has been accepted by the wider community
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I think it will very much matter how it works out, now that the law has been implemented. Any major problems would be for the whole world to see.
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I think this is a positive step, btc has started to be trusted as a legal payment by el savador. this proves that crypto has been accepted by the wider community
Yeah, despite of market volatility. El Salvador is the first ever country that legally embrace Bitcoin. Now the adoption may slowly move forward and make the world into BTC one day. Wider and wider is very possible which actually some countries are studying to follow El Salvador brave action.
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Why not?
Although many parties may doubt their decision, say that they force their citizens to do that and the decision is not wise enough, but for me personally, they are good n deciding this.
Although they are actually very risky taking this decision, the Bitcoin adoption really needs something brave decision. They may face a very hard situation but they can walk along the day, and hopefully many more people can stay with this
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maybe at this time el savador is too brave to start accepting bitcoin because until now bitcoin will be increasingly difficult to get bitcoin, el savador if it still survives it will get a lot of profit because the price of bitcoin from year to year has started to show price increases. el savador has read the price movement.
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maybe at this time el savador is too brave to start accepting bitcoin
We must appreciate what El Salvador and President Nayib have done to the Bitcoin and crypto industry. They trust Bitcoin and made a brave decision for the country. It is something that never happened for many years. Now, with El Salvador decide to make Bitcoin be a legal tender and start a big project of mining, I am pretty sure that Bitcoin has a great & bright future. Just wait for the time that more countries make Bitcoin be a legal tender as well.
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Yeah, despite of market volatility. El Salvador is the first ever country that legally embrace Bitcoin. Now the adoption may slowly move forward and make the world into BTC one day. Wider and wider is very possible which actually some countries are studying to follow El Salvador brave action.
this was a revolution that led to the pros and cons of the el-Salvador state. how about your country mate? whether bitcoin will be adapted as a means of payment?
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Of course, it is very good news that there are still countries that want to accept bitcoin into their economy. That's just how other countries will relate to this, whether they will support this adoption or they will use it internally.
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The decision, of course, is a bold one. But we cannot yet say how this experiment with the adoption of bitcoin as the national currency in El Salvador will end. If the situation in this country does not improve, or there are any disruptions with Bitcoin, this could negatively affect the entire cryptocurrency. In addition, it must be assumed that El Salvador will now not receive financial assistance from international financial structures precisely because of the adoption of bitcoin as a national means of payment. They will only be happy if the situation in El Salvador gets worse. While it is necessary to monitor the development of the situation in this country.
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I think El Salvador's cryptocurrency has helped them take their country one step further by approving bitcoin transactions. I think the approval of Bitcoin in any country will lead the economy of that country to improve at least a little bit. In other words, if bitcoin is allowed in middle-income countries, then those countries are the best in the world. So I think the decisions made by El Salvador have been properly considered. Because bitcoin transactions will make their country's economy and commercial transactions much easier.
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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?
Hopefully other countries also will adopt bitcoin and crypto such as elsavador.
I see elsavador might a pioneer , but We should see. They will success or failed.
Because I see many countries still blocked bitcoin and crypto currency.
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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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I think it's pretty good, and could make bitcoin's name rise in many countries. The latest news from El-Salvador is that the country accepts school payments with Bitcoin, which is quite remarkable. I would like to see this happen in other major European and American countries.
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If El Salvador proves to be successful with this implementation of Bitcoin, I have little doubt that other countries will do the same sooner or later. All eyes are on them now though.
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If El Salvador proves to be successful with this implementation of Bitcoin, I have little doubt that other countries will do the same sooner or later. All eyes are on them now though.
I do not think that developed countries will follow El Salvador in accepting bitcoin as a national currency. Salvador is experimenting because he has to survive. It takes much more time to say something specifically about the success of such a solution. In addition, you need to see how price swings and a sharp and prolonged decline in the price of bitcoin will affect the state of the economy of El Salvador. After all, there will certainly be such periods. The bear market will never fail
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Every country has a good goal for the welfare of its people, I think el savador will succeed in adopting Bitcoin as legal and usable money in their country, everyone knows Bitcoin and Bitcoin have Blockchain currently being developed.
When El Salvador successfully uses Bitcoin, it will be followed by many countries, because some countries are still bound by laws and a country has different regulations to change the rules, we just have to wait.
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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?
If you asked to me about this president, I think It's awesome.
Elsavador has adopted bitcoin as their payment method.
It will have good effect for bitcoin and altcoin at their countries and will influence to other countries, if elsavador success to do it.
Hopefully all countries will addopt bitcoin and altcoins, the future technology must be addopted, If you didn't want to miss out.
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From the beginning of Bitcoin, not too many people adopted Bitcoin back then because they didn't understand it but now, everyone wants to get into Bitcoin, this is the same position El Salvador is at right now, like the beginning of Bitcoin. They took the bold move to be the Genie pig for this experiment and even though risky, it might just be the move that change the country-wide adoption of Bitcoin as a legal tender.
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To draw any conclusions about the success of the functioning of bitcoin as the national currency of a separate state, it takes a certain considerable time. In a few years, when bitcoin goes through several cycles of growth and decline, a long bear market and other obstacles in its path, then it will be possible to say how good it is as a national currency. However, it must be admitted that the experiment is very interesting and has not yet been carried out at such a high level.
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El Salvador is the first country in the world to fully accept and recognize bitcoin, which can be considered a commendable step and a welcome move that will revolutionize digital payments.
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In my opinion, it will either be a resounding success that will elevate the industry, or it will be a terrible failure that will severely harm the industry. Only time will tell which one it will be.
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Your opinion about El Salvador Bitcoin acceptance is not Bangladeshi opinion. I don't know much about it. Because I can't hide any helpful comments about this. I will be able to comment on this later. Silver's time is not going well at the present time due to which it comes to everyone's notice. I hope he will be able to reach a better place next time.
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In my opinion, it will either be a resounding success that will elevate the industry, or it will be a terrible failure that will severely harm the industry. Only time will tell which one it will be.
Yes @mlawson71, that is precisely what it is about, making El Salvador something like a testing laboratory for Bitcoin and other cryptocurrencies. Many governments are watching El Salvador's economy to see if it really improves or not, and many governments will act accordingly when the results can be seen.
Your opinion about El Salvador Bitcoin acceptance is not Bangladeshi opinion. I don't know much about it. Because I can't hide any helpful comments about this. I will be able to comment on this later. Silver's time is not going well at the present time due to which it comes to everyone's notice. I hope he will be able to reach a better place next time.
@Aeso if you don't know something about a specific topic, don't you think it's logical for you to learn about that topic to have an opinion? I think it's better and more useful than writing a post saying you don't know anything.
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In my opinion, it will either be a resounding success that will elevate the industry, or it will be a terrible failure that will severely harm the industry. Only time will tell which one it will be.
I hope that is also the case, El-Salvador's steps to adopt Bitcoin hopefully can bring the country into a developed and successful country because of Bitcoin. If that happens then this will definitely be an example by other countries, and quickly Bitcoin will be legalized in many countries. And of course this will later bring the price of Bitcoin soaring.
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In my opinion, it will either be a resounding success that will elevate the industry, or it will be a terrible failure that will severely harm the industry. Only time will tell which one it will be.
It is unlikely that it will be considered a terrible failure for Bitcoin if it fails in El Salvador. Bitcoin was created to be an alternative to the current financial payment system, that is, to be a means of payment in parallel with the currencies of states.
In El Salvador, it is accepted not only as a means of payment, but at the same time as the national currency of the state, and this really is of great importance and great success for bitcoin. But how he will behave in the role of the national currency, we do not yet know. Even if it fails there, it will not be a disaster, since it performs a function that is not characteristic of a decentralized cryptocurrency.
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It is unlikely that it will be considered a terrible failure for Bitcoin if it fails in El Salvador. Bitcoin was created to be an alternative to the current financial payment system, that is, to be a means of payment in parallel with the currencies of states.
In El Salvador, it is accepted not only as a means of payment, but at the same time as the national currency of the state, and this really is of great importance and great success for bitcoin. But how he will behave in the role of the national currency, we do not yet know. Even if it fails there, it will not be a disaster, since it performs a function that is not characteristic of a decentralized cryptocurrency.
I agree with you. Bitcoin is not a test for El Salvador, El Salvador is a test for Bitcoin. If it works well or badly, it will not be harmful to anyone, but if it works well and the economy of El Salvador improves, many countries with similar economies could also start adopting Bitcoin and other cryptocurrencies. I am sure that there are many governments analyzing every change in the economy of El Salvador.
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Salvador has problems with the spread of the Internet zone, which will make it difficult to access digital currency. Most locals don't even have a bank account, and the average income reaches a maximum of $ 100 per month. Therefore, it is impossible to say for sure whether Bitcoin will be popular among the local population, with its current cost of more than 50 thousand dollars ...
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I think it’s a good one for the entire crypto space considering how influential BTC is. It will definitely have positive impacts on the value of BTC and since BTC is very influential in the crypto market, it will do peripheral projects a whole lot of good. I would love to see projects like Bitay fulfilling it’s full potential under this positive market impact.
Especially their exchange bent on making trading easier for traders by giving real life experience without making real life investments as well as their utility filled native token.
In a good market atmosphere brought about by conditions like this, Bitay will be outstanding
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When the price of bitcoin rose, or at least relatively stood still, I am sure that things were going well in El Salvador. But for the first time since September, when Bitcoin was adopted in this country as the national currency, this coin has dropped significantly in value. I wonder how in El Salvador this decline will affect the finances and economy of the country. A serious stage begins for the government and a serious test for Bitcoin.
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That's what I was thinking about today too. Bitcoin dropped likea rock in the past 24 hours, what effect will that have on their economy?
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In my opinion it is not bad for the country to adopt bitcoin but encouraging people to get into bitcoin especially those have not knowledge about it, I think it's not good idea. President should not encouraging to people to buy bitcoin because there is possibility that their economy will go down.
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In my opinion it is not bad for the country to adopt bitcoin but encouraging people to get into bitcoin especially those have not knowledge about it, I think it's not good idea. President should not encouraging to people to buy bitcoin because there is possibility that their economy will go down.
Agree, I think It's good if there is country that adopted bitcoin as their payment method.
But I don't believe It will success. So let's wait
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That's what I was thinking about today too. Bitcoin dropped likea rock in the past 24 hours, what effect will that have on their economy?
I suppose (and hope) that the government of El Salvador has taken into account all the possible scenarios that the country's economy could face. President Nayib Bukele said a few days ago that they were buying more Bitcoins, so I think they have no problems at the moment, and it is also worth remembering that the sovereign currency of El Salvador (Colón) is still used at the same time as Bitcoin, so the fall in the value of Bitcoin should have minimal influence.
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my opinion about El is good. El Salvador Bitcoin is very nice cryptocurrency, i think it will go up day by day. all cryptocurrency is near future rise again and my opinion about El Salvador Bitcoin is positive and will grow near future
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I am still getting confused though the news is old .I don't know how much step taken by the president concern to use btc .I think there are many things to think like scam ,the bear momentum ,poor people ability ,avoid the the sudden incident .He has to face everything i mention .I think its a huge process what should he follow before using it as a currency but still the country has fail tom confirm it .I think the world turning into the blockchain so that they have huge opportunity to take the advantages .I think they will take every step to firmly using the currency .Hopefully they will able to do it .
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el savador is a country that is desperate to accept payments using bitcoin and of course this will have a good influence on the price of bitcoin which can increase the price if bitcoin is used in many countries, because the more countries that use the higher the demand for bitcoin and the higher the price of bitcoin.
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As El Salvador is a very small and very backward country, I don't think it's a very important place for Bitcoin. It would have made a bigger impact if bigger countries were mentioned instead of El Salvador.
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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?
Always be good topic, If we talk about elsavador
Because It's good thing for crypto space.
Hopefully other countries also adopt crypto soon.
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in el savador country when they accept payments using bitcoin then it is very good and can have an influence on bitcoin price movements because when demand is high it can make bitcoin prices very expensive.
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although there are many pros and cons to the country's decision, hopefully this can pump up the price of Bitcoin to be able to rise this year to its highest point of breaking back $90 thousand
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As El Salvador is a very small and very backward country, I don't think it's a very important place for Bitcoin. It would have made a bigger impact if bigger countries were mentioned instead of El Salvador.
You could have said that it is a developing country, it is not necessary to speak using those words of any country. I do not agree with you. It is normal for Bitcoin to be used by developing countries, that opens the doors to other countries with similar economies. The history of cryptocurrencies has always been like this. Who used Bitcoin first, ordinary people or big companies?. We all know the answer, and that's how things start, from the bottom.
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In my opinion, the adoption of bitcoin by El Salvador is a commendable step, it will increase the utility of bitcoin and any country will also follow it and a digital platform will be created all over the world.
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El Salvador is only a small country but its actions will have a big impact on the whole world, allowing other countries to reference and reap the positive impact of widespread Bitcoin adoption. I wish El Salvador success and no longer be controlled by the IMF through large debts in the future.
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It was a bold move, but we all know fortune favors the brave. IML are not happy though and it's a risky to have a confrontation with them... Long term I think it will pay off, but the volatility is going to cause a lot of instability in the short term.
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Is there any news about what the situation is like at the moment? The situation in El Salvador with Bitcoin, that is.
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El Salvador is only a small country but its actions will have a big impact on the whole world, allowing other countries to reference and reap the positive impact of widespread Bitcoin adoption. I wish El Salvador success and no longer be controlled by the IMF through large debts in the future.
Correct, I agree with you, El Salvador has become the testing laboratory for Bitcoin. Many countries with similar economies are closely following what is happening in El Salvador with the possibility of applying the same law. El Salvador is a small country as we already know, but the step it has taken is gigantic by daring to adopt Bitcoin within its economy. I hope that El Salvador's economy improves and that other countries take note of such a brave and pioneering decision.
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This is a very good decision that another state has believed bitcoin, from this it will be worse in their country, and bitcoin will develop and improve its developments. We will monitor what happens next with this implementation.
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Perhaps with this decision, the authorities of El Salvador want to bring investments into the country through cryptocurrency, thereby helping their economy, but we all know that the blockchain is almost impossible to regulate, I don’t think this will benefit the economy. As a solution for the cryptocurrency hype in the country, it is excellent, but we'll see what comes of it.
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Perhaps with this decision, the authorities of El Salvador want to bring investments into the country through cryptocurrency, thereby helping their economy, but we all know that the blockchain is almost impossible to regulate, I don’t think this will benefit the economy. As a solution for the cryptocurrency hype in the country, it is excellent, but we'll see what comes of it.
Regulating cryptocurrencies, or one of them, as in this case is Bitcoin, can be difficult, but not impossible. The decision made by the president of El Salvador, a decision that not all citizens liked, seems brave and risky at the same time. But we must bear in mind that if risks are not taken, benefits or improvements in a society cannot be obtained. The beginnings are always slow and difficult, the government of El Salvador needs time to be able to continue working.
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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?
I think It's good, and really good news , El Salvador allow and adopt bitcoin.
I hope more countries will accept bitcoin and crypto too.
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I think It's good, and really good news , El Salvador allow and adopt bitcoin.
I hope more countries will accept bitcoin and crypto too.
Until there is clear evidence that the adoption of Bitcoin in El Salvador has made improvements in the economy and society of the country, I believe that there will be no more countries interested in taking the step. Now, many countries with economies similar to El Salvador's are closely monitoring how the country is changing, waiting for such evidence. If over time there are improvements in the country, other countries could adopt Bitcoin after El Salvador has served as a testing laboratory.
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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?
Any news update about El Salvador now? I think El Salvador is good thing for crypto world.
But I don't know what happens there after adopted bitcoin me crypto
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Any news update about El Salvador now? I think El Salvador is good thing for crypto world.
But I don't know what happens there after adopted bitcoin me crypto
No news or reports yet, but it's normal, it's very soon. I suppose that the government headed by Nayib Bukele needs a long time to be able to make statements about the impact of Bitcoin on the country's economy. There are many parameters that the government must investigate to inform its country and the international community, which is very interested in the adoption of El Salvador, so I think we will have to wait a while before knowing official statements, but I hope they are statements positive for the government and citizens.
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The better, the more countries that adopt Bitcoin and this is a new adventure. Bitcoin can be at the top of a super good and luxurious realm because I am sure that one day Bitcoin can be adopted by various countries.
Not only El Salvador but I'm sure all countries in the world also have a more dominant ability to own Bitcoin, but unfortunately they are too cruel to admit that this country already has a lot of Bitcoin.
Because , i think this is depends with regulations in other country . Correct me if im wrong .
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Any news update about El Salvador now? I think El Salvador is good thing for crypto world.
Indeed. It is a good thing. No doubt if El Salvador makes every government in the world think about the alternative of their national currency and also consider the potential in Bitcoin investment for their country. I don't know if El Salvador to bring big impacts, but it really makes the market have positive signs.
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My opinion about BTC in El Salvador is very good, knowing that many people are against BTC, they are blaming their president for losing a lot of money, money that they say belongs to Salvadorans, of course, this is because the price of BTC has gone down and therefore the value in Fiat is lower, but what very few recognize is that El Salvador is the only country that did not take into account any of the threats by the World Bank, and other organizations, this does for me the freest country in the world, and that is well above the thinking of some European countries and the USA.
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I like what the President of El Salvador, Nayib Bukele, is doing because he is the one who is able to adopt Bitcoin for his own country for the good of the future and this is a very sensitive thought.
I will feel this to be the greatest gift in the future because Bitcoin is a digital asset that is more valuable than any other for the country of El Salvador and I will be very grateful to Nayeb Bukele.
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I like what the President of El Salvador, Nayib Bukele, is doing because he is the one who is able to adopt Bitcoin for his own country for the good of the future and this is a very sensitive thought.
I will feel this to be the greatest gift in the future because Bitcoin is a digital asset that is more valuable than any other for the country of El Salvador and I will be very grateful to Nayeb Bukele.
I still wait about El Salvador update news.
What about bitcoin effect at their economic.
I also hopefully our country and other country will adopt bitcoin.
If the government allow and adopt bitcoin and crypto, I think It will have good effect for crypto market.
Bitcoin is legalized in India, although the government take the tax, but I think It's good for crypto investors there.
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I like what the President of El Salvador, Nayib Bukele, is doing because he is the one who is able to adopt Bitcoin for his own country for the good of the future and this is a very sensitive thought.
I will feel this to be the greatest gift in the future because Bitcoin is a digital asset that is more valuable than any other for the country of El Salvador and I will be very grateful to Nayeb Bukele.
The adoption of Bitcoin by the El-savdor government is indeed very good, this may be the beginning of the beginning of Bitcoin being adopted by many other countries. This also proves the positive development of Bitcoin, I want news like this to spread to social media, so that more people know and believe in Bitcoin.
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I like what the President of El Salvador, Nayib Bukele, is doing because he is the one who is able to adopt Bitcoin for his own country for the good of the future and this is a very sensitive thought.
I will feel this to be the greatest gift in the future because Bitcoin is a digital asset that is more valuable than any other for the country of El Salvador and I will be very grateful to Nayeb Bukele.
The adoption of Bitcoin by the El-savdor government is indeed very good, this may be the beginning of the beginning of Bitcoin being adopted by many other countries. This also proves the positive development of Bitcoin, I want news like this to spread to social media, so that more people know and believe in Bitcoin.
What I like most about El Salvador is that people have it and some jobs pay for it in BTC, in addition to being supported by the government system, for me Bukele is a teacher, he is the only president in the world who did not stop him to any regulation or threat from international organizations, in reality this is very good, it is also an example for the other countries of Europe and those where their economy is much more stable than any other.
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I think el savador has his own plans to make himself rich because when bitcoin is owned in large quantities in a country, it will make the country rich when the price of bitcoin increases in price.
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I think el savador has his own plans to make himself rich because when bitcoin is owned in large quantities in a country, it will make the country rich when the price of bitcoin increases in price.
Although the plans that the government of El Salvador has are important, everything will always depend on the current market. From what we know now, the Salvadoran government is still in the construction phase and it hasn't been long enough to have reliable reports of what has happened so far. When the market turns and starts to rise steadily, maybe we can find out more. Not only the crypto community is waiting for these reports, countries with similar economies are also waiting for it.
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I think el savador has his own plans to make himself rich because when bitcoin is owned in large quantities in a country, it will make the country rich when the price of bitcoin increases in price.
Not only talk about increase or decrease of bitcoin mate,
Because bitcoin is also volatile, I think El Salvador should have good way to determine the value of bitcoin at their country.
Let's see, what will happen at El Salvador, It will continue or will be stop by the government.
Because not easy to adopt bitcoin at country.