The misunderstanding about buying 1 BTC is easy to solve, even if El Salvador doesn't do this tender program, it will go away sooner or later. Honestly, it's quite risky to pay wages in crypto atm, I'd rather do a 50:50 split instead. But well, if the country uses BTC as the standard, maybe there won't be a huge problem even if there's volatility.
I'm interested to know how the government of El Salvador implements the policy... because so far there probably won't be any major problems as this is just the beginning. but over time they will surely get used to various issues like paying for a cup of coffee for $1 in Satoshi form. Is the payment transaction system from Wallet 1 to the seller's wallet Send Coffee costs higher? I have not received any information, how to practice payment simulation there directly or in video form. if anyone can show me please share, i am very interested to see the payment process from start to finish. The information that is reported in the digital media about how bitcoin will work in the economy of El Salvador is that it will give financial inclusion to thousands of people outside the formal economy and that the US dollar will continue as the official currency. Bukele will improve the internet connection with the help of Blockstream. Satellite infrastructure to be built, helping rural El Salvadorans 🇸🇻 connect to the internet, and thereby #Bitcoin network, in places where land-based connectivity is poor. @Blockstream plans to contribute their expertise and tech to make the nation a model for the world. 🌎 https://twitter.com/DocumentingBTC/status/1401945700615737348?s=19It is also worth noting that it is a cooperation with Jack Mallers CEO of Strike, a crypto wallet that uses bitcoin lightning so it has low fees and almost instantaneous transactions. https://twitter.com/jackmallers?s=09https://twitter.com/ln_strike?s=09
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Why worry about the price of Bitcoin? Important changes are occurring before seen in the history of Bitcoin. Let's be patient if even the price remains as we can now buy more, let's think about those who are just starting with bitcoin, it is easier to buy low than buy high. In reference to OP and Jack's message was due to the fact that he made a Space on Twitter that is a new feature and he talked about Bitconization in Spanish. https://twitter.com/jack/status/1403181104358625281?s=19Let's not put aside what is happening in Nigeria that nation deserves to be free thanks to Bitcoin. The energy in Nigeria 🇳🇬 will transform the world. The youth have already begun building a pan African financial settlement layer using #bitcoin and nothing can stop peer to peer. Africa is now leading the new world of finance and crypto adoption. Let us all show them love 💗 https://twitter.com/raypaxful/status/1403510855812235265?s=19
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Miami has many advantages to be a world reference crypto hub for being an international city with an important banking, hotel and tourist infrastructure and blockchain technology is asking to be present as well. That is why Miami Mayor Francis Suarez needs to meet the community that will support him on this journey. Very good news that the United States leads with the largest number of bitcoin ATMs in the world.
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In my last job I worked up to 12 hours for several days as an Accounting Assistant and my salary was very poor. My goals at that time was to continue my studies at the University and change jobs for a better income and thus have the opportunity to buy my first apartment to improve my life. I did not aspire to be a rich person only to have the opportunity of the most basic and essential. I had to quit my job and it was the best decision I made because that way I could learn about bitcoin and cryptocurrencies. OP is very right, Bitcoin is our freedom if we let it we are losing its great value.
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I also have the hope that this will be the case for countries where their inhabitants are poor, because their rights have been limited, and which also do not have a bank account. It will be the awakening of many things such as access to education that this technology provides. In most cases these people do not have access to the internet or a smartphone and that is when governments will try to provide them with these resources. Just as the country of El Salvador will. Satellite infrastructure to be built, helping rural El Salvadorans 🇸🇻 connect to the internet, and thereby #Bitcoin network, in places where land-based connectivity is poor. @Blockstream plans to contribute their expertise and tech to make the nation a model for the world. 🌎 https://twitter.com/DocumentingBTC/status/1401945700615737348?s=19
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We all know that El Salvador will be successful, by including bitcoin as a means of payment for goods and services in the region. In addition to the development and investment plans that President Nayib Bukele has to execute once bitcoin boosts the country's economy. I also believe that El Salvador could pay its debt to the IMF if they allow it to achieve its objectives with bitcoin, but the fear of the risks of global financial stability persists for these centralist institutions.
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I am willing to buy bitcoin whenever I can and hodl. We also have other options in crypto to spend on our daily needs. Before the good news at the 2021 Bitcoin Conference held in Miami that El Salvador became the first country to formally adopt Bitcoin as legal tender. The dominance of bitcoin was ~ 39% today I have seen that it has risen to 43.7% as well as its price has recovered exceeding 37K. We have an optimistic environment regarding bitcoin and our best future continues.
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When I read comments on Twitter from people who were doubting Bitcoin, I couldn't believe it. I quickly thought that I should look up the source to make sure what people were talking about. It was bad news towards Bitcoin one after another and I found the most sensible and accurate as this tweet from Adam Back.
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Thanks to all who have left their valuable thoughts on this thread. It has been a very intense week. Although I am Latin American, I had heard from El Salvador about the problems that its population has had due to the lack of work caused by the civil war and that caused a large number of Salvadorans to immigrate to the United States. It is worth refreshing the idea of: Why Bitcoin for El Salvador? This is an important article that makes us understand Bukele's plan that suddenly became known in all corners of the world. He is a President with fresh, innovative ideas and great charisma. El Salvador's economy relies heavily on remittances, or money sent home from abroad, which make up around 20% of the country's gross domestic product (GDP). More than two million Salvadorans live outside the country, but they continue to keep close ties to their place of birth, sending back more than $ 4bn (£ 2.9bn) each year. https://www.google.com/amp/s/www.bbc.com/news/world-latin-america-57373058.ampIn this Reuters article we can see how Salvadorans are starting to place their " Pay here with bitcoin" banners. Today is El Salvador, tomorrow it may be some of our countries. https://www.reuters.com/world/americas/el-salvador-approves-first-law-bitcoin-legal-tender-2021-06-09/
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Guys, don't forget. Before any media releases it, Jack Mallers and the President of El Salvador Nayib Bukele will be live at 11 ET / 8 PT on CNBC We are going to share it on our social networks. Let's all do it together, we are with El Salvador, we are all Bitcoin. This morning ... - an earnings exclusive with @UiPath CEO Daniel Dines 🤖 -Former $UBER Chief Business Officer @emilmichael joins us to talk the biggest tech headlines 🚗💨 - & @ln_strike CEO @jackmallers on El Salvador and its new #Bitcoin policy 🇸🇻 We're LIVE at 11th ET / 8th PT https://twitter.com/CNBCTechCheck/status/1402603954375172103?s=19
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Bravo! El Salvador has made history looking for its future with bitcoin! Guys, Pay attention in a few hours Jack Mallers and Nayib Bukele will be interviewed on CNBC where they will explain all the details as Bitcoin will change the lives of the inhabitants of El Salvador. This is happening and it seems so incredible! Wow! Impressive! ❤️ Bitcoin
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I agree with the analysis of the source. Bitcoin reached $ 1 trillion in the capital market on bullish investor sentiment. Also because we are preparing for a new stage of Bitcoin where we are all necessary. First the community, now it is the institutions and the governments will begin to take that step. Let's not be afraid of the new there is always a first time to start and learn. This is how all bitcoiners start learning as we go.
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I am optimistic that the price of bitcoin will not be lower than that of the current moment, the range of 30K. Sometimes I have the feeling that we are reliving the experience of last year when the price of bitcoin fell to 3K. So that inadvertently the price of bitcoin was making its best run. If so, we are at the best time to buy because bitcoin will continue to reach new ATHs.
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I live in a country with inflation, all my income is obtained in bitcoin and cryptocurrencies. I prefer to only make use of them to spend on my daily needs, while my savings in crypto are destined for a long time. This is my life in crypto, I love this life and it is the one I want my family to take as an example. I think that Bitcoin and cryptocurrencies are here to stay that there will be no one who can take it out of our lives. The best of Bitcoin is yet to come.
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I'm making extra money on the Avalanche network doing marketing work. Also in our community there are jobs like translations, business, bug reporting. We earn points that we can claim and get the AVAX token which is the native token of the network. Avalanche is a powerful and fast growing network if you are interested. Take a look at his Twitter account and the community. https://twitter.com/avalancheavax?s=09https://community.avax.network/
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That's how it is! This announcement was left for the end of the 2021 Bitcoin Conference with the participation of Jack Mallers. Among the most impressive that helped me understand why bitcoin will be the currency that will lead the country of El Salvador is this. At the conference the president of El Salvador makes the announcement.
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OP, please. Why are you so confused? I think you should follow the right people on Twitter. I have not missed the 2021 Bitcoin Conference. https://twitter.com/TheBitcoinConf?s=09Let me tell you that it is incredible, very positive for the community and good news how it is.
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Amazing! Anonimus shows up by pointing to Elon Musk. Many people believe and respect what this group says. Things already look bigger than we think, elites have power and can manipulate the most influential people like Elon Musk. The anonymous argument totally convinces me, we don't need Elon Musk for bitcoin to follow its goals. Bitcoin is a symbol of freedom and peace. We are sure that the massive adoption will be imminent because it is necessary for our economies. Crypto enthusiasts on Twitter no longer have a great deal of sympathy for all those stupid bitcoin FUDs. Take a look at Catalina Instructor on Bitcoin and Blockchain from Argentina. https://twitter.com/Techconcatalina/status/1400886953806028803?s=19
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Bitcoin Conference 2021 live - day 1 Alittle late but it started miami time. https://www.youtube.com/watch?v=Zp43Ktm3wossource: bitcoin magazineSome interesting speakers and best of all, everyone of them are pro bitcoin. Because why would they invite a party pooper to this convention all that is BTC? I am excited about the Bitcoin 2021 conference in Miami. If we realize that it is a great celebration because the USA is showing its great support for Bitcoin. 😂 I know who you mean "why would they invite a party pooper to this convention" to Elon Musk. Perhaps the #Bitcoin 💔 meme was due to him not receiving the invitation to this event. A little more seriously, the US is showing why Bitcoin is a useful digital asset for humanity.
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No such thing will happen. Because we have been living a silent war like the Covid19 pandemic and we have not replaced the FIAT. Even the US dollar is the most widely used currency in our economy.
But I do believe that there will be more technological developments that will make bitcoin and ether lower the high fees and the speed of transactions. The users of the world will have the options of bitcoin and cryptocurrencies as means of payments and also governments will issue their own digital currencies to offer a better service from banks.
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