Very bullish news but the market says otherwise. The market hit 52K then drop fro 46K in just an hour. This big step for El Salvador will not just improve their country but could potentially change it for a better. I could see that many investor would take advantage with this and possibly foreign investors would come. It will change your country forever and potentially change lives as well. A big step for Cryptocurrency era indeed.

El Salvador president Nayib Bukele confirmed Monday that his government has purchased its first 200 Bitcoin (BTC) ahead of today, the Sept. 7 rollout of a new law set to make the cryptocurrency legal tender.

“Our brokers will be buying a lot more as the deadline approaches,” Bukele said, referring to the Sept. 7 timetable for fully implementing the new BTC legislation.

According to the news I have read was that 30% of El Salvadorians make use of bank, this is one of the reasons the bill to make Bitcoin a legal tender was proposed and accepted by the Salvadoran Congress.


This would have been the cause of protests by some people that went against the bitcoin law. If bitcoin is accepted, it is by force that every business should accept it as a form of payment in El Salvador. I think the government should not go to this extent, they should let citizens to have their own opinion to make. Even if they accept Bitcoin as a legal tender, it should not be a compulsory form of payment, they should just only accept it as a legal form of payment which I think it is enough and not mandating their citizens to accept it as some do not want to. Bitcoin should give freedom, El Salvadorian government should also think about this before making compulsion move, Bitcoin is better to just be a legal form of payment and not more.

A time period like 5 years or 10 years is really short to witness fiat currencies just being gone. Someday, this will definitely happen. I haven't any doubt about it. FED is continuing to print money like it is nothing. But their action is very important in fact. As they print an amount of money which is more than needed, US dollar continues to lose its value against many other fiat currencies. If governments follow policies like this, fiat currencies can really be gone before the time even most people expected.

The more we touch a support level, the weaker the support will be. Accumulation time is coming guys. Additionally, which coin will you short? Me: I short coins that I want to accumulate

We saw threads where discussions sparked about how will the poor take the advantage of crypto and all of them limit their thinking to what will happen if BTC skyrockets. There were lots of great answers, but we have a different approach here in this matter. Even if the poor believe that they have missed the BTC train, why don't they spread their vision and look around?

We have:
+ NFTs (we know about one user who sold an NFT for $60k that he won for free - a life changing experience)

+ DeFi tokens (liquidity pools, staking, farming are all giving huge returns for small investors)

+ P2E (Play 2 Earn is another way to make money by playing games online and getting tokens or NFTs as rewards, some games have different types of rewards)

As we reported a few days ago, the President of El Salvador, Nayib Bukele, announced during the Miami Conference that the country intends to accept bitcoin as a currency in the country. Now the 39-year-old has added to the appeal of his proposal on Sunday with his new remarks on Twitter. Bukele announced in his latest tweet that:
"The government will immediately grant permanent residency to crypto entrepreneurs."
Today, his proposal was approved by 62 official members of parliament against 19 votes against. Explaining the bill, Bukele added that the country is also proposing a new law to parliament that would allow anyone with a 3-bitcoin investment in the El Salvadorian economy to obtain permanent residency.
It is interesting to know that the official currency of El Salvador is the US dollar. About a quarter of El Salvadorians live in the United States, and last year they sent more than $ 6 billion in remittances despite the Corona epidemic.
Nayib Bukele acknowledged that the move was aimed at creating jobs and providing employment opportunities for thousands of people who now operate outside the country's legal economy. He noted that 70 percent of the population now does not have a bank account and operates in an informal economy.

Source: Yahoo News


Anyone from El Salvador can give any feedback about living costs and living situation in this country?

We saw the past from $10 to 60k is going up and up. So it sure it will reach $500k next destination.
But why the hell people panic sell now after it reach this high amount?
Do people really still think it goes to 0?

There soulnd't be any sale presure given the history that we see Bitcoin only going up in value

I read a story, on this very forum, of a Pakistani Guy, who was picked up by authorities for trading in crypto. I also had gone through such a time where i almost landed in trouble. So let me share my story so that you guys can avoid such mistakes.

Note: Pakistan, don't allows banks to do crypto related transactions, so its P2P.

It was around August 2020, i posted buying/selling ads on a few trading exchanges. And in that i also posted my contact Number(mistake 1). A person(probably Nigerian) contacted me from an international number using watsapp on my cell and asked me that he wanted to trade with me and that he has some kind of business, and that his team would send me payments and i would have to pay him in bitcoin/ethereum against that payments.
I without much investigation, agreed to work with him, as i was just considering my commissions. As it was decided 10%, which is quiet good for me so i didn't wanted to investigate his line of work.

People used to submit money in my account, and then sent him the receipts, he then watsapp me those receipts and i believing that as he has the receipt, that guy who has sent money actually works with him. So it was good for me.

Soon, i start getting payments in PKR rupees from all over Pakistan, and i kept sending bitcoin to this guy. But i got suspicious and started to worry as i wasn't much aware of his busines but kept doing it for around 2 weeks.

But will all this, i discussed it with my brother, and he told me to stop doing this Bitcoin stuff as he is not much aware of it and also not interested.

Anyway, i told this guy that i dont want to work, and i asked him about his business and some other details.. Things starting heating up between us.
The next day, i got a call from a person, and he said that he is going to FIA as he sent money in my account(which he had) and that my other partner who had a deal to send IPHONES to him against the payment(that he sent in my account) is now not receiving his calls and not responding. He said that me and that guy are a scam and we both have done fraud and that he is going to take me to courts. I talked to Nigerian guy and asked him to send me the Bitcoin back so that i can refund that guy and avoid going behind the bars but he replied that its ur and his matter. Do whatever you want..

What actually happened was, This Nigerian guy, was doing online scams, making people believe that he'll send cheap products. So people when talked to him, he gave them the banking accounts of their local countries, of people like me. through which, he got the payments and never sent any thing to the people he promised. And it was between me and the people who sent payments to my accounts to deal with each other.

The victims were,
1. the people who by greed believed in him as the products he showcased were pretty cheap. And
2. Crypto traders like me, who by greed and better trading profits, didn't investigated much. and started paying him for the money received from third person.

Suggestion: Don't do trade for 3rd person. Only send bitcoin to the person who send you payment in your account.

I am still not surprised that many people leaving in this era still don't know about Bitcoin or digital currencies. I was discussing with some one about bitcoin and it's achievements over the years and how this past few years has gained massive ROI for investors and he was so concerned about how people got scammed using online platforms giving negative attributes to Bitcoin to him bitcoin is a Ponzi scheme.

Many still find it difficult to accepting this digital era because of their past experience with internet fraudsters and looters who made many bankrupt when ponzi was introduced. How do you think this stigma can be dealt with and how do we get people out of this so the don't get left out due to their FUD letting them settle on their negative notion about crypto generally would only make them aggressive with crypto investors and would still see the world the way men in the 80s saw it with lots of limitations

Do you guys ever hear about holding bitcoin in staking platform?

If yes, can you give any advice to stake bitcoin on staking platform?

I've been asking for many times about it, but I need proof experience of you. Please share below!

As a trader, I still choose fiat currency If you can get paid through cryptocurrency. Because of the acceptance through traditional money I will be able to purchase cryptocurrency from the convenient stage through my saved money market analysis. In my opinion, this will make it possible to make more profit and increase the number of total assets. Due to the volatility of cryptocurrency prices, it seems more reasonable to accept traditional money if you have the skills and experience to invest it at the right time.

I would definitely like to be paid in part with crypto because that would be easier than collecting my salary in fiat and then try to buy some crypto from it again which will attract some fees from my investments also    
People can just use that form of crypto investment as a means of monthly cryptocurrency accumulation which I think is a good way to monthly DCA or whichever pattern your salary comes in.

Everyone knows that many have invested in ERC20 tokens from the Ethereum platform, but do you intend to invest in TRC20 tokens from the TRON platform, if "YES" what token did you buy and please include the reason as well.

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

I am trying to figure out the best way to give that information to my loved ones, without giving them the information first before I die. Is it cheap to rent out spaces where you can store notebooks with passwords on it. I don't even think these kinds of establishments exist. Put everything in a notebook and then just leave it in a pile of your personal documents, waiting for them to see once you are gone. I think that is they only way. Specify that it is cryptocurrency so they should find someone with the know-how and retrieve those coins.

I don't think we will get a golden opportunity anymore. If we look at Bitcoin, we can see that Bitcoin is between 30 thousand and 40 thousand dollars. Bitcoin currently exceeds 43k $ Exceeding.I think the price of Bitcoin will not come below 30k $ so we will not have a golden opportunity to buy Bitcoin.

It's really risky when we put all our eggs in one basket, Bitcoin is good but no one can predict what will happen in the future.I also hold bitcoin but not all.My money invested in crypto is idle money and I'm fine if unfortunately bitcoin dies.

I just opened Facebook and read a short, but meaningful post. in the post it says


I ponder when I do daily trading in the crypto market, I often get profit even though it is not too much, But I am always annoyed and irritated if the profit I get is not on target. I forgot to be grateful and hopefully, I can be a grateful person even though I get a little profit from crypto trading.

My thoughts is that bitcoin is just a medium to help you become rich or financially stable, in the end you are the one that needs to utilize those tools given to you, what I mean by that is you do have bitcoin but you don't know what to do next so you are just stuck into hodling only which isn't helpful if you want to get financially stable. I do agree that bitcoin can return the power back to the working class but we all know that bitcoin is for everyone so even the ruling class can get in like what they are doing now.