El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻

[Bobrox]

A recent survey showed Bukele currently well ahead in voting intent for the upcoming, yet far away, 2024 presidential elections (Presidents have a 5 year mandate in El Salvador), with 49,3% of those that participated in the survey claiming that they’d vote for Bukele’s political party. The survey shows the opposition to be fairly out of sight, though a 44,1% did not indicate a specific party (undeceive or else).

Some countries adopted with rule models of democratic system have each five years with presidential election, I don't familiar with El Savador election method. I think have another rule changed and Bitcoin viewed later if next years on 2024 if Nayib Bukele loss his position as president, I don't Bitcoin keep exist there as legal currency transaction due with democratic countries system the power or rule change at President hands.

I hope Nayib Bukele can exist as El Savador president for one period later due he has bigger contribution make Bitcoin as legal currency payment transaction there. Have little opinion about survey claiming is not accurate information and not become indicate about how potential become the winning in presidential election.

[solehdavid]

good news. all governments need to learn how to do business with the cryptocurrency market. i mean, sooner or later they will learn, but i can't understand why they see it as a problem now and don't understand the requirements of the changing world and make it part of their business... of course every government has its own plans and interests, but this seems to me to be nothing more than postponing the inevitable. congratulations to the el salvador administration for this brave decision

[bangjoe]

good news. all governments need to learn how to do business with the cryptocurrency market. i mean, sooner or later they will learn, but i can't understand why they see it as a problem now and don't understand the requirements of the changing world and make it part of their business... of course every government has its own plans and interests, but this seems to me to be nothing more than postponing the inevitable. congratulations to the el salvador administration for this brave decision

I think it's more precise that Bitcoin is not Cryptocurrency because in my opinion cryptocurrency is synonymous with altcoins, of course the governments of other countries should also imitate El Salvador which has now legalized Bitcoin as their currency, and it's proven that El Salvador is proud of itself with its Bitcoin and we can see at the 71st Miss Universe event, El Salvador showed off her country's costume with a Bitcoin icon.
I think many countries are interested in bitcoin, but most of them don't understand how to present Bitcoin to their people, so it becomes a turmoil in itself.

[Inwestour]

Some countries adopted with rule models of democratic system have each five years with presidential election, I don't familiar with El Savador election method. I think have another rule changed and Bitcoin viewed later if next years on 2024 if Nayib Bukele loss his position as president, I don't Bitcoin keep exist there as legal currency transaction due with democratic countries system the power or rule change at President hands.

I hope Nayib Bukele can exist as El Savador president for one period later due he has bigger contribution make Bitcoin as legal currency payment transaction there. Have little opinion about survey claiming is not accurate information and not become indicate about how potential become the winning in presidential election.

The president in El Salvador is elected for 5 years, and since Bukele was elected in 2019, more than half of his term as president of the country has already passed. It is difficult to say what will happen when another person becomes the head of state, but it will not be so easy to make changes, and why do it now, when it has a positive effect on the development of tourism in the country?

It was difficult at first, but now, in any case, the population has already adapted and it would be stupid to prohibit payments in bitcoin, this would mean a loss for El Salvador, no one will do this, no one president, because he will go down in history as a man who failed, so like Bukele, in turn, when he went down in history, only on the positive side.

[KennyR]

A recent survey showed Bukele currently well ahead in voting intent for the upcoming, yet far away, 2024 presidential elections (Presidents have a 5 year mandate in El Salvador), with 49,3% of those that participated in the survey claiming that they’d vote for Bukele’s political party. The survey shows the opposition to be fairly out of sight, though a 44,1% did not indicate a specific party (undeceive or else).

Some countries adopted with rule models of democratic system have each five years with presidential election, I don't familiar with El Savador election method. I think have another rule changed and Bitcoin viewed later if next years on 2024 if Nayib Bukele loss his position as president, I don't Bitcoin keep exist there as legal currency transaction due with democratic countries system the power or rule change at President hands.

I hope Nayib Bukele can exist as El Savador president for one period later due he has bigger contribution make Bitcoin as legal currency payment transaction there. Have little opinion about survey claiming is not accurate information and not become indicate about how potential become the winning in presidential election.

The bitcoin law has been passed with 62 votes out of 84 votes. This is a big win, and there were opposition from the public which is being subsided with the continued progress. El Salvador Predicted is strong in his belief and keeps staying positive amidst the losses. 2024 will be a big year for him, because of the election as well as the halving. If I'm not wrong, people of El Salvador have found many thing good and developmental under his governance other than bitcoin adoption. This will keep him continue his power as President of El Salvador.

[CageMabok]

good news. all governments need to learn how to do business with the cryptocurrency market. i mean, sooner or later they will learn, but i can't understand why they see it as a problem now and don't understand the requirements of the changing world and make it part of their business... of course every government has its own plans and interests, but this seems to me to be nothing more than postponing the inevitable. congratulations to the el salvador administration for this brave decision

The question is which government still sees cryptocurrency as a problem? Just because the government hasn't legalized cryptocurrencies as payment in their country like El Salvador has done doesn't mean that the government sees cryptocurrencies as a problem, maybe they are studying it and waiting for a decision from several parties before legalizing it. Because every country has different rules and different perspectives on cryptocurrencies, this is not an issue that all governments are looking at right now.

[Hispo]

<...>

-snip-

Good summary of information.
So the Bitcoin project in El Salvador for now does not have to worry about political obstacles, in the short-mid term. I have got this impression that, for example, a country adopting a foreign currency (as Ecuador, Panama and El Salvador did with the USD) is a very different process than adopting Bitcoin.

When some process of Dollarization comes, usually it is because an apparent necessity for it. If a government tried to outlaw the use of USD in a country (like the Venezuelan case) people would not take it positively and it would be difficult to enforce or devolve. I am afraid that, since the adoption of Bitcoin is pretty much state-sponsored, it could be eliminated by law easily.

It is the opposite of the adoption in Venezuela. People adopted Bitcoin first, against the vision of the government and then the government realized it was no use to fight against it.

[Sebas.tian]

good news. all governments need to learn how to do business with the cryptocurrency market. i mean, sooner or later they will learn, but i can't understand why they see it as a problem now and don't understand the requirements of the changing world and make it part of their business... of course every government has its own plans and interests, but this seems to me to be nothing more than postponing the inevitable. congratulations to the el salvador administration for this brave decision

I think, many governments will definitely learn from El Salvador in this comfortable decision their president took to made Bitcoin legal in the whole country to make their citizens feel good and comfortable in their long term trading and short term trading in the country. I believe, before the end of this year 2023 many governments will like to follow El Salvador procedure to legalize Bitcoin to help their citizens to withstand this inflation that is affecting their economy and other things in the countries. Now that El Salvador has break the record, to be the first country in the whole world to legalized Bitcoin in their country and they have achieved so many good things from Bitcoin in their country.

[JayJuanGee]

Some countries adopted with rule models of democratic system have each five years with presidential election, I don't familiar with El Savador election method. I think have another rule changed and Bitcoin viewed later if next years on 2024 if Nayib Bukele loss his position as president, I don't Bitcoin keep exist there as legal currency transaction due with democratic countries system the power or rule change at President hands.

I hope Nayib Bukele can exist as El Savador president for one period later due he has bigger contribution make Bitcoin as legal currency payment transaction there. Have little opinion about survey claiming is not accurate information and not become indicate about how potential become the winning in presidential election.

The president in El Salvador is elected for 5 years, and since Bukele was elected in 2019, more than half of his term as president of the country has already passed. It is difficult to say what will happen when another person becomes the head of state, but it will not be so easy to make changes, and why do it now, when it has a positive effect on the development of tourism in the country?

It was difficult at first, but now, in any case, the population has already adapted and it would be stupid to prohibit payments in bitcoin, this would mean a loss for El Salvador, no one will do this, no one president, because he will go down in history as a man who failed, so like Bukele, in turn, when he went down in history, only on the positive side.

Presidents of poor nations sell their people down the river thousands of times over the past 50 years or even longer that the IMF and the world bank systems have been increasingly incentivizing them to do so.

When a president does not want to sell his people down the river (which seems to be the case with Bukele) then he is attacked by the IMF and world bank because there are preferences that he falls in line so that other countries do not follow his lead.  It's a kind of fucked up system that has oppressed countries and their people, so there are not really goals to empower people in small countries.. and the same dynamics happens within western countries too.. that's part of the explanation why the whole monetary system is so fucked up in terms of the way that incentives are fucked up by the money in such a way to control the people and create chaos and too many issues to discuss... but it is not correct to suggest that a new leader would just follow the great things that Bukele and his administration have worked to build (in connection with bitcoin as one of the money options) so far in the past year and a half or so.

good news. all governments need to learn how to do business with the cryptocurrency market. i mean, sooner or later they will learn, but i can't understand why they see it as a problem now and don't understand the requirements of the changing world and make it part of their business... of course every government has its own plans and interests, but this seems to me to be nothing more than postponing the inevitable. congratulations to the el salvador administration for this brave decision

The question is which government still sees cryptocurrency as a problem? Just because the government hasn't legalized cryptocurrencies as payment in their country like El Salvador has done doesn't mean that the government sees cryptocurrencies as a problem, maybe they are studying it and waiting for a decision from several parties before legalizing it. Because every country has different rules and different perspectives on cryptocurrencies, this is not an issue that all governments are looking at right now.

Yeah.. fuck shitcoins... and fuck the vague use of that term "cryptocurrency"  Are you talking about bitcoin or what?  If so, use the proper word.  Bitcoin not vagueass references to "cryptocurrencies" whatever that is?

El Salvador seems to understand that bitcoin is the deal.. and they don't give any shits about crypto.. and I believe in the latest legislation they defined all crypto.. shitcoins as securities.. .. so yeah, if countries do not know the difference between bitcoin and shitcoins  and they are talking about crypto, then they seem to not know what the fuck is bitcoin.

One of the important aspects of Bukele and his administrations's approach, so far, is that they have not gotten drug down the shitcoin track and they seem to understand to differentiate shitcoins.. and even to label them as different things (securities).

So yeah.. cryptocurrencies are a problem.. if you don't know what the fuck is bitcoin and you are not able to describe El Salvador's efforts in terms of bitcoin... or at least try in order that we might attempt to know what you are talking about.. because there are other countries that are distracted and dabbling in shitcoins and it does not help for anyone to be suggesting that El Salvador, Bukele or his administration is "crypto" friendly, because he  is not  crypto friendly.  He is bitcoin friendly.. and bitcoin as an option... yeah there are other things going on in El Salvador too... that work on various financialization projects.. so sometimes there might be various ways that the dollar or some stable coins or some various shitcoins might come into the picture in regards to how projects might be structured or financed or to figure out how there might be balancing in terms of who is funding/supporting what and perhaps how funds are held, too.... and if there might be some ambiguity that El Salvador might be deviating from their bitcoin-focus in some kinds of ways, then we likely need to figure out how to talk about them in terms of bitcoin, rather than just throwing out vague terms and vaguely trying to imply the El Salvador is crypto friendly.. when it is not... at least not so far, as far as I can tell.. and if you believe that they are crypto friendly or there is some reason to talk about "crypto" as if it had any meaning, then let me know. Fuck that stupid vague term, when the use of it fails to have a context to describe what you are talking about.

[Daltonik]

Indeed, after reading the Law on Digital Assets, you will not find any mention of bitcoin there, except in the context of paying a fee in

Art.12, paragraph 2. Issuers must: b) Pay fifty United States dollars or their equivalent in Bitcoin for each authorization confirmation.

In addition, there are separate provisions concerning taxation, for example, in

Art. 36 b) the nominal value and income or income derived from digital assets are exempt from all types of fees, taxes, taxes, fees and contributions of any kind and nature, present or future, whether ordinary, extraordinary or even special. Capital gains or ordinary income received as a result of the purchase and sale or any other method of transferring digital assets, including write -off in case of debt, it will be exempt from any type of taxation.

https://www.asamblea.gob.sv/sites/default/files/documents/dictamenes/7050D57B-97A1-492F-AA15-CFCAEEF6E138.pdf

However , the publication criptonoticias.com commenting on the law on Digital Assets, he notes that although the law itself is aimed at digital assets in general, however, agencies created in accordance with this legislation "will focus primarily on companies related to bitcoin", and not on those that also work with other cryptocurrencies.

The goal is to limit the appearance of public offers of digital assets that can be fraudulent and put those who invest in them at risk, the text of the bill explains.
https://www.criptonoticias.com/comunidad/strongpaxful-deja-el-salvador-no-tiene-empleados-cede-casa-bitcoin/

[jokers10]

I think, many governments will definitely learn from El Salvador in this comfortable decision their president took to made Bitcoin legal in the whole country to make their citizens feel good and comfortable in their long term trading and short term trading in the country. I believe, before the end of this year 2023 many governments will like to follow El Salvador procedure to legalize Bitcoin to help their citizens to withstand this inflation that is affecting their economy and other things in the countries. Now that El Salvador has break the record, to be the first country in the whole world to legalized Bitcoin in their country and they have achieved so many good things from Bitcoin in their country.

Modern economic theory considers moderate inflation is good. So why would any government consider to fight with it? Implementing bitcoin into economy can't be based on that if we talk about government's motivation. They use devaluation when they make huge mistakes to pay with all nation's wealth for their bad administrating. So what can be good for people not always good for government. People get benefits from Bitcoin's existence and governments are made to start using it as it becomes powerful enough to prevent ignoring it and thanks to its decentralization it is hard to ban it worldwide even if some governments still try.

[Doan9269]

General Tourist Extension Day In El-Savador

https://twitter.com/nayibbukele/status/1613714037094715392?t=iyHhFgNOcWwnuCerN6_gSg&s=19


This is to bring to the notice of the general public that the government of El-Savador has endorsed an extension for it tourist enthusiast to have a longer stay of 180 days instead of the initial 90 days stipulated, this will help in a long way to make discoveries and enjoy every provisioned targeted on bitcoin tourists from across the globe, this was coming in after the official release of the intention to bring in more bitcoin investors into El-Savador, this is a double celebration as the bitcoin price is getting back it bull to start the race of moving up and up.

[n0ne]

Heneral Tourist Extension Day In El-Savador

https://twitter.com/nayibbukele/status/1613714037094715392?t=iyHhFgNOcWwnuCerN6_gSg&s=19


This is to bring to the notice of the general public rhat the government of El-Savador has endorsed an extension for it tourist enthusiast o have a longer stay of 180 days instead of the initial 90 days stipulated, this will help in a long way to make discoveries and enjoy every provisioned targeted on bitcoin tourists from across the globe, this was coming in after the official release of the intention to bring in more bitcoin investors into El-Savador, this is a double celebration as the bitcoin price is getting back it bull to start the race of moving up and up.

Country with a population of around 6.5 million keep on trying to make themselves strong through the tourism sector. Once after the adoption of bitcoin, the country have experienced good progress in the tourism industry. This have now made them increase the staying days from 90 days to 180 days. Country that is being discussed for violence and illegal activities have now turned to be a better tourism spot. Through bitcoin the country is experiencing a massive transformation. Hope this can make changes in the nearby small countries.

[jokers10]

Country with a population of around 6.5 million keep on trying to make themselves strong through the tourism sector. Once after the adoption of bitcoin, the country have experienced good progress in the tourism industry. This have now made them increase the staying days from 90 days to 180 days. Country that is being discussed for violence and illegal activities have now turned to be a better tourism spot. Through bitcoin the country is experiencing a massive transformation. Hope this can make changes in the nearby small countries.

Being first who adopted bitcoin at a state level is a jump from mostly rural economy to 21st century for El Salvador. As we know it attract more tourists already and those tourists in a big part are interested in bitcoin so I expect some new high tech will be implemented in there basing on their demand (what will be used by Salvadorians as well). And I hope El Salvador will develop more intensive with that.

[BigBos]

Heneral Tourist Extension Day In El-Savador

https://twitter.com/nayibbukele/status/1613714037094715392?t=iyHhFgNOcWwnuCerN6_gSg&s=19


This is to bring to the notice of the general public rhat the government of El-Savador has endorsed an extension for it tourist enthusiast o have a longer stay of 180 days instead of the initial 90 days stipulated, this will help in a long way to make discoveries and enjoy every provisioned targeted on bitcoin tourists from across the globe, this was coming in after the official release of the intention to bring in more bitcoin investors into El-Savador, this is a double celebration as the bitcoin price is getting back it bull to start the race of moving up and up.

Country with a population of around 6.5 million keep on trying to make themselves strong through the tourism sector. Once after the adoption of bitcoin, the country have experienced good progress in the tourism industry. This have now made them increase the staying days from 90 days to 180 days. Country that is being discussed for violence and illegal activities have now turned to be a better tourism spot. Through bitcoin the country is experiencing a massive transformation. Hope this can make changes in the nearby small countries.

When El Salvador develops rapidly after accepting Bitcoin as legal tender, I think there will be many other developing countries that will adopt bitcoin and follow El Salvador's path, my reason for this is because basically developing countries also always want their country to become a developed country in terms of state revenue from the policies implemented, when El Salvador was really successful in terms of policies establishing bitcoin as a legal tender for payments and increasing their national income from the tourism industry and other economic sectors which of course will be imitated by many countries.
I really look forward to this for the following years as we see lots of new people studying bitcoin's performance in the financial system and of course bitcoin adoption will be massive.

[Artemis3]

General Tourist Extension Day In El-Savador

https://twitter.com/nayibbukele/status/1613714037094715392?t=iyHhFgNOcWwnuCerN6_gSg&s=19


This is to bring to the notice of the general public that the government of El-Savador has endorsed an extension for it tourist enthusiast to have a longer stay of 180 days instead of the initial 90 days stipulated, this will help in a long way to make discoveries and enjoy every provisioned targeted on bitcoin tourists from across the globe, this was coming in after the official release of the intention to bring in more bitcoin investors into El-Savador, this is a double celebration as the bitcoin price is getting back it bull to start the race of moving up and up.

I love this, so i could stay 6 months instead of 3, it's making me seriously do a visit and even find out about immigration requirements (i don't have the 3 BTC for insta citizenship lol).

[Doan9269]

Heneral Tourist Extension Day In El-Savador

https://twitter.com/nayibbukele/status/1613714037094715392?t=iyHhFgNOcWwnuCerN6_gSg&s=19


This is to bring to the notice of the general public rhat the government of El-Savador has endorsed an extension for it tourist enthusiast o have a longer stay of 180 days instead of the initial 90 days stipulated, this will help in a long way to make discoveries and enjoy every provisioned targeted on bitcoin tourists from across the globe, this was coming in after the official release of the intention to bring in more bitcoin investors into El-Savador, this is a double celebration as the bitcoin price is getting back it bull to start the race of moving up and up.

Country with a population of around 6.5 million keep on trying to make themselves strong through the tourism sector. Once after the adoption of bitcoin, the country have experienced good progress in the tourism industry. This have now made them increase the staying days from 90 days to 180 days. Country that is being discussed for violence and illegal activities have now turned to be a better tourism spot. Through bitcoin the country is experiencing a massive transformation. Hope this can make changes in the nearby small countries.

When El Salvador develops rapidly after accepting Bitcoin as legal tender, I think there will be many other developing countries that will adopt bitcoin and follow El Salvador's path, my reason for this is because basically developing countries also always want their country to become a developed country in terms of state revenue from the policies implemented, when El Salvador was really successful in terms of policies establishing bitcoin as a legal tender for payments and increasing their national income from the tourism industry and other economic sectors which of course will be imitated by many countries.
I really look forward to this for the following years as we see lots of new people studying bitcoin's performance in the financial system and of course bitcoin adoption will be massive.

Central African Republic has also follow up with adoption of bitcoin as a legal tender after El-Savador, while many other countries have been showing interest in likes manner, we hope to receiving more countries into it this year, i also count it another advantage that the bitcoin price could make sone changes or hasten some other decision provided if it surges more higher above the $21k it has attained over a very long time, i believe many doubts about bitcoin and it's acceptabilities have been cleared and it's obvious not a currency that will ever turn to a zero points.

[jokers10]

Central African Republic has also follow up with adoption of bitcoin as a legal tender after El-Savador
...

Unlike El Salvador we don't hear positive news from Central African Republic about bitcoin adoption. And it has its reasons: basing on World Bank data only 14% of CAR citizens probably have access to electricity and not more than 10% have access to Internet.

I have mostly positive expectations with adoption of bitcoin in El Salvador (I see some problems as well, but I'm optimistic in general). But as for CAR... I don't see any reasons nowadays which will lead that innovation in that country to success. Well, it's good when people can have a bitcoin alternative, but as for CAR I don't think people do really get such as alternative as majority of them don't even have any device to get access to Internet.

[Luzin]

I have mostly positive expectations with adoption of bitcoin in El Salvador (I see some problems as well, but I'm optimistic in general). But as for CAR... I don't see any reasons nowadays which will lead that innovation in that country to success. Well, it's good when people can have a bitcoin alternative, but as for CAR I don't think people do really get such as alternative as majority of them don't even have any device to get access to Internet.

This ,Bitcoin without the internet seems to be a lie. But I don't know if the data is Valid? Hopefully, they will follow suit soon by adding infrastructure to support this Adoption. Then if the Central African Republic then one of El Salvador's missions is a success. A while ago i'am read on social media, if El Salvador appeared confident in the Miss Universe event. They use the Bitcoin logo, I think this is one of the campaign models. I don't know if they're champions or not, but I think it's Bukele's creative move to introduce Bitcoin even though it's just a symbol.

[JayJuanGee]

I have mostly positive expectations with adoption of bitcoin in El Salvador (I see some problems as well, but I'm optimistic in general). But as for CAR... I don't see any reasons nowadays which will lead that innovation in that country to success. Well, it's good when people can have a bitcoin alternative, but as for CAR I don't think people do really get such as alternative as majority of them don't even have any device to get access to Internet.

This ,Bitcoin without the internet seems to be a lie. But I don't know if the data is Valid? Hopefully, they will follow suit soon by adding infrastructure to support this Adoption. Then if the Central African Republic then one of El Salvador's missions is a success. A while ago i'am read on social media, if El Salvador appeared confident in the Miss Universe event. They use the Bitcoin logo, I think this is one of the campaign models. I don't know if they're champions or not, but I think it's Bukele's creative move to introduce Bitcoin even though it's just a symbol.

Of course, bitcoin in El Salvador goes beyond symbolism, and surely decisions involving artistic choices of the Miss Universe contestant may well have input from a variety of folks - yet at the same time, the various ongoing adoption efforts likely have impacts on the whole population of El Salvador and even to influence some of the citizens/residents in terms of whether they might take efforts to adopt bitcoin as one of their savings and/or payment options or to consider if there might be ways that they might be able to use bitcoin, including perhaps reconsidering their foreign remittance practices if they might have had been receiving payments from people living outside of El Salvador and sending it back to them and maybe they might be able to save money by using (getting involved in) bitcoin?