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

[Oneandpure]

the reality today is that the people who continue to make fud and associate it with el salvador are the ones who misunderstand.
they thought that bitcoin had replaced the dollar in el salvador. even though bitcoin is only legalized in that country as a legal tender, not as a substitute.

Impact with bitcoin as legal currency transaction by El Savador not give impact with local currency left by their people, I saw what did by dominance El Savador people most likely make bitcoin as investment assets for the future. Bitcoin can substitutes with local currency on each country when adopting as legal currency transaction but most people see have great chance with bitcoin as worth for investing at the future, less inflation and keep increasing price day by day make many countries try to adopt bitcoin although still against by United State. Bitcoin will get positive respond when getting many countries have make it as legal currency and keep dominance later without left with local currency.

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[Jatiluhung]

Impact with bitcoin as legal currency transaction by El Savador not give impact with local currency left by their people, I saw what did by dominance El Savador people most likely make bitcoin as investment assets for the future. Bitcoin can substitutes with local currency on each country when adopting as legal currency transaction but most people see have great chance with bitcoin as worth for investing at the future, less inflation and keep increasing price day by day make many countries try to adopt bitcoin although still against by United State. Bitcoin will get positive respond when getting many countries have make it as legal currency and keep dominance later without left with local currency.

bitcoin price is now very high when you see from the beginning of its creation. and when we look at the world map. then only a few countries allow their people to invest in bitcoin. and only a few countries that have legalized it as a means of payment such as el salvador. I imagine one day every country will start doing the same thing as El Salvador. then the price now will be very very cheap compared to later after every country is open with bitcoin.
so it's actually not too late to get in now. because the true potential of bitcoin is still completely unseen. I believe in the next generation where people are smart with technology and communication knowledge then that's when bitcoin will really be accepted in every country. even the enemies who have been cornering bitcoin all this time will secretly collect from now on so they want to be the ones who continue to dominate the market.

Even this awareness is starting to emerge in developing countries that want progress like Nigeria. where today I read that many Nigerians are rushing to buy bitcoin in the midst of the economic crisis that hit their country and because their currency seems to be in crisis. so the safest way is with the available alternative options, namely saving wealth to bitcoin.  ( https://cryptopotato.com/nigerians-rush-to-buy-bitcoin-amid-economy-collapse-report/ )

[_act_]

The Bitcoin market has adopted Salvador as a symbol.

To be sincere, I do not understand the meaning of this, probably you meant bitcoin is adopted in El Salvador, as a legal tender. Nothing will bitcoin market has to do with this the way you used it.

the reality today is that the people who continue to make fud and associate it with el salvador are the ones who misunderstand.
they thought that bitcoin had replaced the dollar in el salvador. even though bitcoin is only legalized in that country as a legal tender, not as a substitute.

Yes, bitcoin is adopted in El Salvador not as a substitute but as alternative to fiat (US dollar). Just like other countries that support bitcoin, Salvadorans can decide not to spend bitcoin at all, anyone that want to stick to US dollars can do so. I see it as freedom and life made easy for the citizens.

even the decline in bitcoin actually didn't have much impact on the citizens of el salvador due to the fact that most people there still use dollars more. the difference is there we are free to use bitcoin for legal tender.

It has impacts, but positive impacts, if you follow this thread, there have been posts regarding how Salvadorans are using bitcoin, some accept it for their salary payment, it is even used in remittance, used in sending from abroad to people in El Salvador, the bank long process and more transaction cost can be avoided. Nearly most of the bitcoin used in transaction linked to Chivo wallet are converted to US dollars.

But as of El Salvador government that are holding bitcoin, some critics said they are losing already. It is known already that the critics and people that think like that are focusing on what is not, but not focusing on how bitcoin has positive impacts like in tourism and other opportunities bitcoin adoption could bring to El Salvador.

bitcoin price is now very high when you see from the beginning of its creation. and when we look at the world map. then only a few countries allow their people to invest in bitcoin. and only a few countries that have legalized it as a means of payment such as el salvador. I imagine one day every country will start doing the same thing as El Salvador. then the price now will be very very cheap compared to later after every country is open with bitcoin.
so it's actually not too late to get in now. because the true potential of bitcoin is still completely unseen. I believe in the next generation where people are smart with technology and communication knowledge then that's when bitcoin will really be accepted in every country. even the enemies who have been cornering bitcoin all this time will secretly collect from now on so they want to be the ones who continue to dominate the market.

You are right, but I use the wealth distribution in the world to make such conclusion, people that have bitcoin in the world are not more than 5% population of the world and much wealth would still be used to buy bitcoin. Bitcoin marketcap today is around $500 billion, this is nothing compared to the wealth in the world, increase in bitcoin marketcap over long term is certain but it will be a gradual process.

But know that only few countries totally banned bitcoin, even citizens of countries that only implicitly ban bitcoin are still investing because they still have the right to invest but just not to take it to business level. In the countries that totally banned bitcoin like China, even the Chinese government still knows that many Chinese are still buying and selling bitcoin. It is seen illegal in such countries that have total ban on bitcoin, but just telling you how bitcoin is not fiat that government can have total control over, it can be used in a decentralized manner which makes government not to have full control over it.

[Doan9269]

the reality today is that the people who continue to make fud and associate it with el salvador are the ones who misunderstand.
they thought that bitcoin had replaced the dollar in el salvador. even though bitcoin is only legalized in that country as a legal tender, not as a substitute.

bitcoin can still be use as a substitute of USD in El-Savador, it is not by law quite alright but the people can decide to get involved with the use of bitcoin than fiat, if we consider well what El-Savador did, we will see that he made the two options available, use bitcoin or fiat USD, that is why you see the government of US and IMF having the fear of bitcoin not overriding fiat USD being the central currency.

I imagine one day every country will start doing the same thing as El Salvador.

there's high tendency to that, adoption will increase with time.

then the price now will be very very cheap compared to later after every country is open with bitcoin.

am in doubt about this, the price will rather increases than reducing, this is what determine it value, though there might be seasons of bearish moves but the value remains incomparable to other cryptos or the fiat itself, this is what makes out the uniqueness in bitcoin.

The truth is El Salvador's president has not disclosed to the public his Bitcoin holdings and what he intends to do with them

this has been discussed previously by ddmrddmr when he share a statistics of El-Savador's bitcoin invested, value, cost,  loss and win, and the likes, in short he statistics are well explanatory in a table, here's the link: https://bitcointalk.org/index.php?topic=5342087.msg60612784#msg60612784  and lastly let me correct you that the bitcoin is not Nayib Bukele's coins but the entire El-Savadorans, base on your statement, i will also recommend you to read more about El-Savador's volcanic bond and this link as well will be of help as well.

[_act_]

bitcoin can still be use as a substitute of USD in El-Savador, it is not by law quite alright but the people can decide to get involved with the use of bitcoin than fiat, if we consider well what El-Savador did, we will see that he made the two options available, use bitcoin or fiat USD, that is why you see the government of US and IMF having the fear of bitcoin not overriding fiat USD being the central currency.

According to what you posted, it is still an alternative so far El Salvadoran government still allow the use of US dollars, it would still be considered as an alternative, not a substitute.

then the price now will be very very cheap compared to later after every country is open with bitcoin.

am in doubt about this, the price will rather increases than reducing, this is what determine it value, though there might be seasons of bearish moves but the value remains incomparable to other cryptos or the fiat itself, this is what makes out the uniqueness in bitcoin.

Do not misunderstood what he meant about this, he meant that some people can see bitcoin to be expensive today, but later, the price will increase and what is considered expensive today will be seen very cheap tomorrow (in the future) just like we seeing bitcoin at $1000 to be expensive in some years back, but now the price of bitcoin has so much more increased.

this has been discussed previously by ddmrddmr when he share a statistics of El-Savador's bitcoin invested, value, cost,  loss and win, and the likes, in short he statistics are well explanatory in a table, here's the link: https://bitcointalk.org/index.php?topic=5342087.msg60612784#msg60612784  and lastly let me correct you that the bitcoin is not Nayib Bukele's coins but the entire El-Savadorans, base on your statement, i will also recommend you to read more about El-Savador's volcanic bond and this link as well will be of help as well.

You are right about this.

[Oneandpure]

I imagine one day every country will start doing the same thing as El Salvador. then the price now will be very very cheap compared to later after every country is open with bitcoin.

Not easy how imagine with bitcoin adopt by majority countries around the world because several countries have diplomatic relationship with United State as country most against bitcoin as legal currency transaction. Get impact United State will cut off diplomatic relationship with some country try to adopt and make bitcoin as legal currency transaction. I think the United States will not hesitate to impose economic sanctions on its allies if it really makes bitcoin an illegal currency. The impact that is quite significant in the future on the US Dollar is a big consideration why the United States is currently a country that is quite counter to the presence of bitcoin.

[CryptKeeper]

El Salvador's Finance Minister Says Bitcoin Adoption is 'Gaining Ground': Report

https://www.coindesk.com/policy/2022/07/29/el-salvadors-finance-minister-says-bitcoin-adoption-is-gaining-ground-report/

[wmaurik]

The truth is El Salvador's president has not disclosed to the public his Bitcoin holdings and what he intends to do with them, either as a short-term or a long-term plan. Since that information is not available to the public let us concentrate on the country El Salvador Bitcoin reserve which should be a more interesting topic to analyze, as many factors will be considered. But in the main time, El Salvador has not sold any of its Bitcoin reserves and at that, we can't say El Salvador's economy is suffering from the present bear market as there have not exchanged those bitcoins for US dollars to have witnessed the loss in its value.

Now how many units of Bitcoin has been reserved by the president of El Salvador? because I had read news that said that at the beginning of this year El Salvador had added their Bitcoin reserves to the country and I still don't know if in the past two months the president of El Salvador is still adding more Bitcoin to the reserve. So it would be better if someone knew about this now.

[DdmrDdmr]

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I’m sure somebody around here on this same thread keeps track, or has a good source located. The toll should be 2.381 BTCs now, which is 80 more than the amount stated in the link in a post above (likely the 80 BTCs bought on the 30/06/2022 were not accounted for).

I’ve yet though to find an official source on one of the Salvadorian Government pages. This site would be the adequate place in my opinion.

[bbc.reporter]

El Salvador's Finance Minister Says Bitcoin Adoption is 'Gaining Ground': Report

https://www.coindesk.com/policy/2022/07/29/el-salvadors-finance-minister-says-bitcoin-adoption-is-gaining-ground-report/

If we could be honest with each other, it is very hard to trust the words of El Salvador's finance minister without showing us the data. It would be very easy to declare something, however, the data will give us more of an idea if this is true or not true. For example if the finance minister declares there is a 50% growth in bitcoin adoption but the data shows only 1000 active users then this is head shaking. El Salvador's population is 6 million.

In any case, are there updates on those bitcoin bonds El Salvador wanted to issue to build a city?

[noorman0]

El Salvador's Finance Minister Says Bitcoin Adoption is 'Gaining Ground': Report

https://www.coindesk.com/policy/2022/07/29/el-salvadors-finance-minister-says-bitcoin-adoption-is-gaining-ground-report/

Elsalvador does not show strong evidence that the demand for bitcoin adoption is actually increasing. My doubt is how elsalvador non-bank service users actually change their minds, while in practice bitcoin adoption is not really under control.
So far, the president only announced a statement to buy bitcoin every dip. I conclude that their attempt to accumulate bitcoin reserves is not on the basis of expanding adoption.

[Daltonik]

Bitcoin Magazine states that according to the message of the Ambassador of El Salvador to the US about plans to invest $6 billion in bitcoins in El Salvador through the global platform Bank To The Future, I do not know how much this news is similar to the truth, especially whether it will really be implemented and whether it is really so as far as it is known that except for the Ambassador of El Salvador, no one else is confirmed.

[DdmrDdmr]

<...>

The information, I figure, was initiated by this Tweet made a couple of days ago from Milena Mayorga’s (Ambassador of El Salvador to the United States) account, which I’ve translated to be:

I met up with Invest Saudi this week. They want to invest in El Salvador and they approached me in order to ask for me to send then the five biggest projects in the country that has a social projection. On top of that, Bank of the Future wants to take (invest) 6000 million in bitcoin to the country.

See: https://twitter.com/MilenaMayorga/status/1553019632029679618

I’ve looked around but came up empty handed trying to find further details on the said investment in the country. Some things really should go beyond a simple Tweet early in the game …

[Piesel]

If am not mistaken, El Salvador came second among countries that hold Bitcoin and made the balance public. The fact that Ukraine allowed donations through Bitcoin and cryptocurrencies shows the fact that the government is beginning to recognize Bitcoin as the trance border currency without the services of a third party. That being said for El Salvador to have held the total Bitcoin holding without selling any bits from it shows that even though El Salvador comes second to Ukraine in terms of countries' Bitcoin holding El Salvador also being the first country to adopt Bitcoin as a currency that will serve as an alternative to the centralized currency.

[JayJuanGee]

If am not mistaken, El Salvador came second among countries that hold Bitcoin and made the balance public. The fact that Ukraine allowed donations through Bitcoin and cryptocurrencies shows the fact that the government is beginning to recognize Bitcoin as the trance border currency without the services of a third party. That being said for El Salvador to have held the total Bitcoin holding without selling any bits from it shows that even though El Salvador comes second to Ukraine in terms of countries' Bitcoin holding El Salvador also being the first country to adopt Bitcoin as a currency that will serve as an alternative to the centralized currency.

You may need to provide a link Piesel or some better explanation regarding both the timeline that you are talking about and perhaps more of the specifics regarding how you compare Ukraine to El Salvador in terms of a compare/contrast situation....

And as far as who is first, I am not sure whether it really matters that much, except that you seem to be bringing up information that is not really supported by facts in terms of some kind of comprehensive approach that Ukraine or any other country might have taken in regards to bitcoin. I recall in 2014 Japan made transacting in bitcoin legal, but they did not make it to be legal tender, as far as I recall.. and they also did not buy it for their treasuries or take other proactive measures like El Salvador did.  My point is that countries have done all kinds of shit with bitcoin prior to El Salvador in 2021, but none of those approaches seemed to have been as comprehensive as El Salvador's approach.. at least, not so far.

As far as my recollection goes, Ukraine was all over the place in terms of various contradictory message in respects to bitcoin prior to 2021 and even in recent times, and surely there has been some contradictory statements coming out of Ukraine in recent times too.. even though there have been war desperation statements coming out of Ukraine also (in recent times).. and El Salvador came out with a more comprehensive approach in June 2021 that got implemented in September 2021.. and I will concede that surely all of these matters are moving targets in terms of either what any particular country/location is doing in terms of either promoting bitcoin through how bitcoin is designated or various investments that they make into bitcoin or allow their citizens to make into bitcoin and any restrictions that might be part of their approach, as well.

[Piesel]

If am not mistaken, El Salvador came second among countries that hold Bitcoin and made the balance public. The fact that Ukraine allowed donations through Bitcoin and cryptocurrencies shows the fact that the government is beginning to recognize Bitcoin as the trance border currency without the services of a third party. That being said for El Salvador to have held the total Bitcoin holding without selling any bits from it shows that even though El Salvador comes second to Ukraine in terms of countries' Bitcoin holding El Salvador also being the first country to adopt Bitcoin as a currency that will serve as an alternative to the centralized currency.

You may need to provide a link Piesel or some better explanation regarding both the timeline that you are talking about and perhaps more of the specifics regarding how you compare Ukraine to El Salvador in terms of a compare/contrast situation....

And as far as who is first, I am not sure whether it really matters that much, except that you seem to be bringing up information that is not really supported by facts in terms of some kind of comprehensive approach that Ukraine or any other country might have taken in regards to bitcoin. I recall in 2014 Japan made transacting in bitcoin legal, but they did not make it to be legal tender, as far as I recall.. and they also did not buy it for their treasuries or take other proactive measures like El Salvador did.  My point is that countries have done all kinds of shit with bitcoin prior to El Salvador in 2021, but none of those approaches seemed to have been as comprehensive as El Salvador's approach.. at least, not so far.

As far as my recollection goes, Ukraine was all over the place in terms of various contradictory message in respects to bitcoin prior to 2021 and even in recent times, and surely there has been some contradictory statements coming out of Ukraine in recent times too.. even though there have been war desperation statements coming out of Ukraine also (in recent times).. and El Salvador came out with a more comprehensive approach in June 2021 that got implemented in September 2021.. and I will concede that surely all of these matters are moving targets in terms of either what any particular country/location is doing in terms of either promoting bitcoin through how bitcoin is designated or various investments that they make into bitcoin or allow their citizens to make into bitcoin and any restrictions that might be part of their approach, as well.

Hi, thanks for your corrections and demand for link to the claims, I must acknowledge your in-depth knowledge and analytical explanations to terms and worlds as regards to the topic of discussion. There is no doubt the fact that Ukraine have been on the offensive side of Bitcoin adoption and has not been friendly to Bitcoin-related laws and policies, but then ever since the war started Ukraine has benefited hugely from Bitcoin as various donations were made to support the country during the war. So that Bitcoin donated amount makes up for the country's high Bitcoin balance among countries such as El Salvador which have made Bitcoin a legal tender and already have millions of dollars country Treasury in Bitcoin.
I got the figure that placed Ukraine 1st among the other countries whose Bitcoin balances are made public from a link shared on this thread, I will scan back a little and I will share the link or screenshots.

[DdmrDdmr]

<...>

You probably saw it on this site, where it states that Ukraine holds 46351 BTCs. Nevertheless, these sites do not necessarily contain homogenous information, and whilst the data for El Salvador is derived from sources that announce each BTC purchase made by the government (essentially @Bukele’s Twitter lacking anything better), the data for Ukraine is derived from this source dated April 2021.

Back then, Ukrainian civil servants had to declare information on their properties, and as a result, 652 (out of more than 700K) civil servants declared having the said 46351 BTC at the time (pre-war, so things may have changed substantially). Viacheslav Mishalov, a City Council deputy from DNIpro stands out as a whale with over 18000 BTCs alone.

The details can be found here:
https://opendatabot.ua/en/analytics/bitcoin-2021b

As far as I can see, these declarations of tenancy are individual, and therefore I believe related to their private holdings. It is therefore not an amount that belongs to the government’s treasury, and if I’m right, buybitcoinworldwide’s BTC treasury listing should not be mixing-up government central treasures with something that is not, creating an unnecessary confusion.

[savetheFORUM]

Bitcoin Magazine states that according to the message of the Ambassador of El Salvador to the US about plans to invest $6 billion in bitcoins in El Salvador through the global platform Bank To The Future, I do not know how much this news is similar to the truth, especially whether it will really be implemented and whether it is really so as far as it is known that except for the Ambassador of El Salvador, no one else is confirmed.

I think I can easily believe on this because the sharer of this news is verified. We can see that there is a little blue check next on their name. I don't think they will spread fake news because they are afraid that the reputation of their account can get affected and we also know how powerful El Salvador is. They made btc a legal tender so they will support it through the end but true or not, we can't deny that it was still helpful as there will be people that get encouraged to hodl and buy more coins.

I wouldn't be surprised if the btc value keeps on increasing above 25 or 30k. Let's just hope that there will be no major negative news or fuds which can disrupt this rare process, if we don't want to see btc falls and struggle again.

[JayJuanGee]

If am not mistaken, El Salvador came second among countries that hold Bitcoin and made the balance public. The fact that Ukraine allowed donations through Bitcoin and cryptocurrencies shows the fact that the government is beginning to recognize Bitcoin as the trance border currency without the services of a third party. That being said for El Salvador to have held the total Bitcoin holding without selling any bits from it shows that even though El Salvador comes second to Ukraine in terms of countries' Bitcoin holding El Salvador also being the first country to adopt Bitcoin as a currency that will serve as an alternative to the centralized currency.

You may need to provide a link Piesel or some better explanation regarding both the timeline that you are talking about and perhaps more of the specifics regarding how you compare Ukraine to El Salvador in terms of a compare/contrast situation....

And as far as who is first, I am not sure whether it really matters that much, except that you seem to be bringing up information that is not really supported by facts in terms of some kind of comprehensive approach that Ukraine or any other country might have taken in regards to bitcoin. I recall in 2014 Japan made transacting in bitcoin legal, but they did not make it to be legal tender, as far as I recall.. and they also did not buy it for their treasuries or take other proactive measures like El Salvador did.  My point is that countries have done all kinds of shit with bitcoin prior to El Salvador in 2021, but none of those approaches seemed to have been as comprehensive as El Salvador's approach.. at least, not so far.

As far as my recollection goes, Ukraine was all over the place in terms of various contradictory message in respects to bitcoin prior to 2021 and even in recent times, and surely there has been some contradictory statements coming out of Ukraine in recent times too.. even though there have been war desperation statements coming out of Ukraine also (in recent times).. and El Salvador came out with a more comprehensive approach in June 2021 that got implemented in September 2021.. and I will concede that surely all of these matters are moving targets in terms of either what any particular country/location is doing in terms of either promoting bitcoin through how bitcoin is designated or various investments that they make into bitcoin or allow their citizens to make into bitcoin and any restrictions that might be part of their approach, as well.

Hi, thanks for your corrections and demand for link to the claims, I must acknowledge your in-depth knowledge and analytical explanations to terms and worlds as regards to the topic of discussion. There is no doubt the fact that Ukraine have been on the offensive side of Bitcoin adoption and has not been friendly to Bitcoin-related laws and policies, but then ever since the war started Ukraine has benefited hugely from Bitcoin as various donations were made to support the country during the war. So that Bitcoin donated amount makes up for the country's high Bitcoin balance among countries such as El Salvador which have made Bitcoin a legal tender and already have millions of dollars country Treasury in Bitcoin.
I got the figure that placed Ukraine 1st among the other countries whose Bitcoin balances are made public from a link shared on this thread, I will scan back a little and I will share the link or screenshots.

Ok... Fair enough if you are wanting to merely refer to the size of the treasuries; however, I think that it remains a good practice to try to consider various countries for what they are doing, and even considering how verifiable some of the representations of facts happen to be.  Every country seems to have issues regarding both how transparent they are and also whether they are representing some of the purported facts accurately. 

Of course, there are also issues regarding context as well in terms of what might have moved them into their bitcoin accumulation strategies, and also down the road many of these countries are going to be facing potential transition of power issues to attempt to assure that country treasuries are not being raided - and it can be understandable why a country might not want to overly disclose some of its security measures - and frequently they can also create additional vulnerabilities when they might hold their coins with third-parties that might end up being influenced by foreign/international powers - which may not necessarily be for the good of the people - so transition of power and custody issues need to be taken with some grain of salt regarding whether proper balances are being taken with any of these countries who have their own contexts, country histories of corruption, and even disputations regarding legitimacy of power, which would also factor into the transition issues that could end up happen in the near future or might end up being delayed into the future.

I feel like I am rambling a bit, even though I am merely attempting to make the point that a variety of factors need to attempt to be appreciated about how various countries differ from one another, and each of us should be attempting to look at facts and minimize the amount that we end up coming off as if we are cheerleading for one country or another because even comparing bitcoin treasury sizes needs to be appreciated in the context of various other factors as well, such as GDP and maybe even considering some of the other kinds of reserves that a country might hold in foreign currencies, gold, and perhaps some other assets that the country might hold in terms of how self-sustaining the whole economy might be and including maybe considering kinds of production - exports/imports.

<...>

You probably saw it on this site, where it states that Ukraine holds 46351 BTCs. Nevertheless, these sites do not necessarily contain homogenous information, and whilst the data for El Salvador is derived from sources that announce each BTC purchase made by the government (essentially @Bukele’s Twitter lacking anything better), the data for Ukraine is derived from this source dated April 2021.

Back then, Ukrainian civil servants had to declare information on their properties, and as a result, 652 (out of more than 700K) civil servants declared having the said 46351 BTC at the time (pre-war, so things may have changed substantially). Viacheslav Mishalov, a City Council deputy from DNIpro stands out as a whale with over 18000 BTCs alone.

The details can be found here:
https://opendatabot.ua/en/analytics/bitcoin-2021b

As far as I can see, these declarations of tenancy are individual, and therefore I believe related to their private holdings. It is therefore not an amount that belongs to the government’s treasury, and if I’m right, buybitcoinworldwide’s BTC treasury listing should not be mixing-up government central treasures with something that is not, creating an unnecessary confusion.

Another good set of points, who's holding the BTC, and from when was the data collected... and also if we recognize that a war or invasion contributes towards a lot of chaos in terms of personal and governmental finances/productivity, it also contributes towards a lot of chaos in terms of accurate information.

[NicNacCoin]

El Salvador is one of the first countries in the world to legalize Bitcoin as legal tender.If ideas like El Salvador were created in every country, Bitcoin would definitely be in a better position.But very soon it will be seen that Bitcoin will be legalized in better countries like EL Salvador.Again, there is little question about Bitcoin, but if there is a good position and the price is in a range, Bitcoin would have gone further.The way Bitcoin is being dumped leaves people in a very confusing state.Bitcoin and dumping should be prevented but people will trust it more.