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Learning & News => News related to Crypto => Topic started by: newshunter on October 18, 2021, 01:00:22 PM

Title: Salvadorans are now selling ‘way more’ US dollars to buy Bitcoin
Post by: newshunter on October 18, 2021, 01:00:22 PM

Salvadorans are now selling ‘way more’ US dollars to buy Bitcoin

President Bukele confirmed that Chivo has recorded 24,076 remittance requests, which has added up to $3,069,761.05 in one day.

Source: Salvadorans are now selling ‘way more’ US dollars to buy Bitcoin (https://cointelegraph.com/news/salvadoreans-are-now-selling-way-more-us-dollars-to-buy-bitcoin)

Would appreciate your opinion about this

Title: Re: Salvadorans are now selling ‘way more’ US dollars to buy Bitcoin
Post by: Oksana Ksyusha on October 19, 2021, 05:42:29 PM

Hello to everybody. As for me I consider that Salvador made Bitcoin an official mains of payment because they want to reduce the dollar's impact on the country's economy, as well as leverage the benefits of bitcoin as a means of income in the long term. .I think that the citizens of El Salvador appreciated the decision of the authorities and decided not to miss the chance to receive additional passive income in the future.

Title: Re: Salvadorans are now selling ‘way more’ US dollars to buy Bitcoin
Post by: Senin on October 20, 2021, 03:34:25 PM

As long as Bitcoin rises in value, the people of El Salvador will be fine. The difficulty will begin when its price drops sharply. I do not know how the Salvadorans will react then to a decrease in the volume of their money. Does Chivo Wallet have the ability to convert Bitcoin to stablecoins? This will be the only salvation in this case.