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

[songchunlai]

I should have an account with three bitcoins.

[bbc.reporter]

I am presently shaking my head because Samsung is wearing a shirt with a Tether logo.

The man's real name is Samson, not Samsung - your thoughts seem to have been somewhere else when you wrote this post

Was he not one of those very loud maximalists who held the opinion strongly that everything that is not bitcoin is a scam? However, he is presently working with the most questionable group of people in the cryptospace.

I'm not familiar with his previous views on Bitcoin, but I'm not at all surprised that he wears the logo of that stablecoin, because people change for the better, but also for the worse. I also don’t like that the company behind USDT is involved in that project, but there is certainly a reason why Bukele chose just them and not someone else for the job.

I know hehehe. Many people are calling him Samsung Mao as a joke for his extremist idealism on Bitcoin maximalism. His acceptance of Tether might have broken that idealism, however. He used to say any cryptocoin that is not bitcoin is a scam.

Would you speculate or suspect that Bukele chose to work with the hustlers behind Tether is because it would be very much easier to move money using Tether’s shadow banking connections than use the real banking system?

[Lucius]

Would you speculate or suspect that Bukele chose to work with the hustlers behind Tether is because it would be very much easier to move money using Tether’s shadow banking connections than use the real banking system?

I hope this is not the case, because it would be a real shame for the whole project to fail due to the connection with that company, although formally the cooperation was achieved with iFinex which is just another company owned by BitFinex. What is interesting is that this idea has been around for several months, and it was suggested by Mr. Samson - and we can assume (given the logo he is promoting) that he influenced who the other partner would be.

Canada-based Blockstream Corp, a blockchain technology company, proposed the El Salvador government to issue a digital dollar denominated bond while the nation taps plans to introduce Bitcoin as legal tender.
Samson Mow, Blockstream’s chief strategy officer, said company officials had met with El Salvador government officials to present the plan and that officials had expressed interest but had not yet made a final decision.

[DdmrDdmr]

I figure there is an official track of what’s been spent on thses "buying the dip" sprees. Today’s is smaller than prior purchases, but they’ve added another 100 BTCs to their position, totalling 1,220 or so I believe.

See: https://twitter.com/nayibbukele/status/1464307422793715716

Theoretically, this is all coming from the initial 150M $ Trust that was set to provide liquidity to the Chivo System. It’s be interesting to know exactly how they are taking custody of these BTCs (I figure they have some sort of agreement with one of the Exchanges they use to support the pipes of the Chivo System – hopefully they have some robust agreement -> not sure where the keys are …).

[Vaskiy]

El Salvador buys more 100 bitcoin making its total holding of bitcoin as 1220. President Nayib Bukele is quite has undergone lots of criticism for making bitcoin legal tender. He is strong in his decision making use of every dip happening in the market. Now the country holds something around $66 million worth in bitcoins. Even yesterday Bank of England governor Andrew Bailey criticised for El Salvador's decision on bitcoin usage.

[ropyu1978]

this is a good thing, especially for the survival of bitcoin because in recent years bitcoin has experienced such a significant decline.with the adoption of the country of El Salvador it can at least increase the viability of bitcoin in the global stock market so that its price can rise again because currently bitcoin is in dire need of recognition.or adoption from developing countries to regain public trust regarding positive opinion on bitcoin of course this is very good for bitcoin miners if this is actually realized

[bbc.reporter]

Would you speculate or suspect that Bukele chose to work with the hustlers behind Tether is because it would be very much easier to move money using Tether’s shadow banking connections than use the real banking system?

I hope this is not the case, because it would be a real shame for the whole project to fail due to the connection with that company, although formally the cooperation was achieved with iFinex which is just another company owned by BitFinex. What is interesting is that this idea has been around for several months, and it was suggested by Mr. Samson - and we can assume (given the logo he is promoting) that he influenced who the other partner would be.

Canada-based Blockstream Corp, a blockchain technology company, proposed the El Salvador government to issue a digital dollar denominated bond while the nation taps plans to introduce Bitcoin as legal tender.
Samson Mow, Blockstream’s chief strategy officer, said company officials had met with El Salvador government officials to present the plan and that officials had expressed interest but had not yet made a final decision.

It is a cooperation and not a condition where who is influencing who. The skeptical me is speculating that Blockstream wants to create this project for profit, president Bukele wants the project because it is another place where he and his friends can use it for money laundering and Tether, Bitfinex, iFinex is the liquidity and shadow banking provider. This is only business.

[karanggatak]

This is very good news for us as crypto users and El Salvador is the country that further legalizes bitcoin and becomes a legal means of payment to be used in the country, and this decision is well planned and I believe the Government of El Salvador has considered all the risks that will be faced by the country if bitcoin becomes a legal means of payment, If later the Government of El Salvador can take advantage of bitcoin well then the country's profits will definitely be obtained easily.

If the government of EL Salvador had planned to legalize bitcoin as the legal currency in the country then there should have been no incidents of protest by its citizen. We have read a lot of news that protest were held at some point against the government's desire to legalize bitcoin as a legal currency. If the government had planned it well then the citizens should have accepted its decision without incidents like ATM burning.

Although it seem that now some El Salvadorans have accepted the legality of bitcoin, the government still needs to make further socialization effort so that it can function properly for its citizen. Regarding profit, the government can impose taxes on those who trade bitcoin or other cryptocurrencies as well as from those who run businesses or service such as exchange.

like higher have big secret on it, people smell and throw that statement. good news be good news, and profit always be profit, we never know how much profit behind good news.
and government get profit from tax after legalize crypto, exchanger will explode and salary will add to country saving.

[Sirait]

El Salvador buys more 100 bitcoin making its total holding of bitcoin as 1220. President Nayib Bukele is quite has undergone lots of criticism for making bitcoin legal tender. He is strong in his decision making use of every dip happening in the market. Now the country holds something around $66 million worth in bitcoins. Even yesterday Bank of England governor Andrew Bailey criticised for El Salvador's decision on bitcoin usage.

el salvador buying the dip is the best news at the end of this year, Nayib has become a very strong president because he has thoughts that really aim to build and advance the country. "El Salvador buying the dip as a fxck other country"

[oHnK]

It is a cooperation and not a condition where who is influencing who. The skeptical me is speculating that Blockstream wants to create this project for profit, president Bukele wants the project because it is another place where he and his friends can use it for money laundering and Tether, Bitfinex, iFinex is the liquidity and shadow banking provider. This is only business.

I see the views of friends regarding this project are becoming increasingly critical, behind the big plan of the president of El Salvador and it has been highlighted even in my country's national media even the media say this action makes the IMF angry, on the other hand you explain the possibility of the reason behind this is the opportunity to facilitate corruption  .  Isn't this an exaggeration?  Or is there any clear evidence?  I thought this would have a positive impact on the market but it didn't.  The forum's response even shows suspicion on him.

[UserU]

el salvador buying the dip is the best news at the end of this year, Nayib has become a very strong president because he has thoughts that really aim to build and advance the country. "El Salvador buying the dip as a fxck other country"

First president to go YOLO on Bitcoin. Hats off to him for having the balls of steel.

[qwertyup23]

El Salvador buys more 100 bitcoin making its total holding of bitcoin as 1220. President Nayib Bukele is quite has undergone lots of criticism for making bitcoin legal tender. He is strong in his decision making use of every dip happening in the market. Now the country holds something around $66 million worth in bitcoins. Even yesterday Bank of England governor Andrew Bailey criticised for El Salvador's decision on bitcoin usage.

This is interesting- so El Salvador implemented a law that allows Bitcoin to be categorized as 'legal tender' but they have around 1200 BTCs to their disposal? What could be the implications given that the government holds a relatively small amount of BTCs in their country? Given that it is recognized as legal tender, most of its citizens there would prefer to have it as part of their salary/income.

Though I do think that other countries could use this as an inspiration to adopt cryptocurrencies to their financial system. I can definitely see this as a long-term plan where El Salvador might be on the lead towards innovation and develoment.

[ibuddy122505]

Compared to most governments, El Salvador has more common sense! El Salvador has made Bitcoin legal tender for the first time, and now it's buying another dip. El Salvador's president confirmed this through Twitter. Thanks for all that you do, El Salvador. In terms of BTC becoming a world reserve currency, El Salvador is already on top. I admire their discipline in buying when prices are low. It is likely that El Salvador will end up as the richest country in the world.

[bbc.reporter]

It is a cooperation and not a condition where who is influencing who. The skeptical me is speculating that Blockstream wants to create this project for profit, president Bukele wants the project because it is another place where he and his friends can use it for money laundering and Tether, Bitfinex, iFinex is the liquidity and shadow banking provider. This is only business.

I see the views of friends regarding this project are becoming increasingly critical, behind the big plan of the president of El Salvador and it has been highlighted even in my country's national media even the media say this action makes the IMF angry, on the other hand you explain the possibility of the reason behind this is the opportunity to facilitate corruption  .  Isn't this an exaggeration?  Or is there any clear evidence?  I thought this would have a positive impact on the market but it didn't.  The forum's response even shows suspicion on him.

Is it an exaggeration to say that politicians have always been taking advantage of their elective positions to steal money from their own people and country? What country are you from, can you say that your government is run by honest people?

Also, the IMF is angry because Tether appears to competing vs. the IMF’s monopoly on global financing and lending to countries and governments hehe.

[Daltonik]

El Salvador's acceptance of bitcoin as a means of payment is increasingly beginning to move into the political plane, so the Ambassador of El Salvador to the United States, Milena Mayorga, said that her country will continue to introduce bitcoin no matter what. According to her, the concern in Washington is connected with the loss of the dollar's strength, and we understand this, but El Salvador must move on and be on a different level.

[oHnK]

Is it an exaggeration to say that politicians have always been taking advantage of their elective positions to steal money from their own people and country? What country are you from, can you say that your government is run by honest people?

Also, the IMF is angry because Tether appears to competing vs. the IMF’s monopoly on global financing and lending to countries and governments hehe.

Haha, talking about my country, there are many people who take advantage illegally in the government.  I may be too naive to think that all of this was planned with good intentions, but indeed this project provides a great opportunity for those who intend to do money laundering.  Such is the case in a Swiss bank which strictly maintains the confidentiality of its customers so that it is used as a place to store assets resulting from corruption by officials in my country.  Isn't it like this, there is no chance for Bitcoin to advance?  Should the political stance behind the big Bitcoin project continue to be a constraint?

[Wipeout2097]

Its truly acknowledged and cheerful to listen around the individuals of El Salvador will have an alternative that gives them more prominent monetary opportunity and opportunities.Actually extraordinary pioneers make solid country and solid economy,If nation head Being related with a degenerate tyrant might not be such great reputation for Bitcoin. I trust this will inevitably lead to more opportunity, not fair monetarily but in other zones where individuals are oppressed. Other underdevloped nations heads ought to inquire about and apply crypto as legitimate delicate to boost the economy of the nation.

[ropyu1978]

maybe this is a very good thing with the adoption of bitcoin from the country of El Salvador where they openly want to adopt bitcoin en masse for their country and of course this would be a very good thing because it could potentially increase the price of bitcoin back to stability in the market global stocks considering that currently bitcoin really needs recognition or adoption from developing countries for bitcoin's survival in the long term so this can be positive if the adoption is actually realized

[bbc.reporter]

Is it an exaggeration to say that politicians have always been taking advantage of their elective positions to steal money from their own people and country? What country are you from, can you say that your government is run by honest people?

Also, the IMF is angry because Tether appears to competing vs. the IMF’s monopoly on global financing and lending to countries and governments hehe.

Haha, talking about my country, there are many people who take advantage illegally in the government.  I may be too naive to think that all of this was planned with good intentions, but indeed this project provides a great opportunity for those who intend to do money laundering.  Such is the case in a Swiss bank which strictly maintains the confidentiality of its customers so that it is used as a place to store assets resulting from corruption by officials in my country.  Isn't it like this, there is no chance for Bitcoin to advance?  Should the political stance behind the big Bitcoin project continue to be a constraint?

No chance of bitcoin to advance? It has advanced! This is where the difference in attitude between me and you. On the reality that bitcoin, tether and the cryptospace is being used to create a city without asking for a loan from the IMF or the banking guild is evidence of bitcoin’s advancement. This includes it also being used in money laundering, tax evasion and all other illegal forms of financial crime.

My wish is to witness a united South America under a system of Tether and all of them redollarized out of poverty.

[Daltonik]

Cheddar News correspondent Alex Vuokolo tells how the use of Bitcoin bonds of El Salvador will help to weaken the country's dependence on external debt. After all, at the moment El Salvador is negotiating with the IMF to borrow $1.3 billion, the loss of this funding threatens with a budget deficit of about $1 billion. Bitcoin bonds will not help close this gap, but according to Samson Mou, Blockstream's chief strategy officer, it can serve as the basis for subsequent bonds that could help the country ease its dependence on external debt.