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

[JayJuanGee]

Bitcoin education in El Salvador is on the increase and I like the way the government is handling the education of its citizens on Bitcoin because this is the best way to protect the people and also build citizens' trust in Bitcoin. As we are well aware of the protest that happened during the early days of Bitcoin adoption in El Salvador, one of the main issues raised during the protest was the cry by the people that there was no proper awareness and education of citizens before Bitcoin adoption in the country.

I think people's protests against proper education on Bitcoin are reasonable, because they also want to know thoroughly about Bitcoin before adopting it into anything. So it is natural to make a protest to the government, because it is a very wise and appropriate thing to be able to make a decent and free education for all citizens in El Salvador.
And I also read an article on cryptonews which mentioned the issue of Bitcoin education in El Salvador where Paxful has opened an educational facility in El Salvador to help citizens learn and use Bitcoin more effectively. The program is called La Casa Del Bitcoin, and aims to accelerate the acceptance of Bitcoin through free education, as the majority of El Salvadorans are still unfamiliar with the technology.

Many of us need to recognize and appreciate that there is a kind of catch 22 going on here, and that people are not going to learn shit if bitcoin is not available to be used in the society and there is a certain level of practicality that one of the best ways to learn something is by actively using it, even if you do not know what the fuck you are doing and even if there may be some risks that you are going to lose money in the process of learning.   

One of the best ways to learn better risk management is by both attempting to employ better risk management and possibly getting burnt in the event that you do not employ good risk management.

These whimpy criticisms that are proclaiming that poor poor dumb people of El Salvador need to learn first seem to be largely fantasy ideas in regards to what are some of the better ways to learn and attempt to learn.  El Salvador has been serving as a way better than average (and better than almost everywhere else) learning ground merely by its  legalizing bitcoin, and the fact that they are smart about the idea in the sense that they are focusing on bitcoin first is another way to attempt to guide people in terms of understanding some aspects of risk management are not getting involved in shitcoins because bitcoin is already risky so why add more risk upon your strategy by getting involved in risk upon risk.. .. and surely some El Salvadorean citizens (and people benefiting from El Salvador's pro-bitcoin laws) are going to be better at risk management right from the start, and other El Salvadorean citizens (and people benefiting from El Salvador's pro-bitcoin laws) are going to worse at risk management, but hopefully they are going to learn along the way, and maybe El Salvadorean citizens are going to become way more educated about both bitcoin and various kinds of risk management related to bitcoin and are going to be helpful in helping other people around the world in regards to bitcoin and risk management around bitcoin - even though in spite of our increasingly interconnected world, frequently it is still not easy for people around the world to easily learn from people in other places around the world.. .. and again getting back to some of the experiential aspects of learning. 

[Vaskiy]

El Salvador’s ‘My First Bitcoin’: How to teach a nation about crypto

If successful, the “Mi Primer Bitcoin” program, which recently rolled out in El Salvador, could be coming soon to a school near you.

The grassroots Mi Primer Bitcoin, meaning “My First Bitcoin,” program has picked up steam in El Salvador. The first cohort of Bitcoiner-come-students began studies in May. Founded by John Dennehy, an American activist, and journalist, the program also has the support of the Salvadoran government.

https://cointelegraph.com/news/el-salvador-s-my-first-bitcoin-how-to-teach-a-nation-about-crypto

Bitcoin education in El Salvador is on the increase and I like the way the government is handling the education of its citizens on Bitcoin because this is the best way to protect the people and also build citizens' trust in Bitcoin. As we are well aware of the protest that happened during the early days of Bitcoin adoption in El Salvador, one of the main issues raised during the protest was the cry by the people that there was no proper awareness and education of citizens before Bitcoin adoption in the country.

During the protest there is no cry from the people stating no awareness, but the prime reason stated was there is no transparency in the creation of crypto law and the development of Chivo Wallet. Further is for the usage of tax dollars for bitcoin investment. El Salvador lacks awareness and education about bitcoin, but in 2019 itself the village El Zonte had adopted bitcoin as payment once after receiving $100k worth bitcoin from anonymous donation. Country now focused on educating people on its usage and how it can improve the economy.

[danadc]

Right now I am collecting everything I can to go to El Salvador, I want to go myself to find out and see everything that is related to Bitcoin in that beautiful country, and I want to know the city of Bitcoin, I would like to see even from afar the President Bukele, just as the president sees himself here in Ecuador, for me a country that is friendly to Bitcoin is an index that they are very cool people, I also want to be part of that history because El Salvador is an example to the world.

[Fivestar4everMVP]

Right now I am collecting everything I can to go to El Salvador, I want to go myself to find out and see everything that is related to Bitcoin in that beautiful country, and I want to know the city of Bitcoin, I would like to see even from afar the President Bukele, just as the president sees himself here in Ecuador, for me a country that is friendly to Bitcoin is an index that they are very cool people, I also want to be part of that history because El Salvador is an example to the world.

A nice plan you have and a good way to see the world mate,  I personally have never been to El Salvador and up until now, I've not had any plan of traveling there,  but my instinct tells me the experience will be worth the stress and expense.
El Salvador have made the path clear for other countries to follow,  and like we all already know,  the central African Republic have traveled that same path,  hopefully, alot more countries are coming next year being 2023,  fingers crossed for the next country that will make bitcoin legal tender.

Cast your votes on coinmarketcap... https://coinmarketcap.com/legal-tender-countries/

[Hamphser]

Right now I am collecting everything I can to go to El Salvador, I want to go myself to find out and see everything that is related to Bitcoin in that beautiful country, and I want to know the city of Bitcoin, I would like to see even from afar the President Bukele, just as the president sees himself here in Ecuador, for me a country that is friendly to Bitcoin is an index that they are very cool people, I also want to be part of that history because El Salvador is an example to the world.

A nice plan you have and a good way to see the world mate,  I personally have never been to El Salvador and up until now, I've not had any plan of traveling there,  but my instinct tells me the experience will be worth the stress and expense.
El Salvador have made the path clear for other countries to follow,  and like we all already know,  the central African Republic have traveled that same path,  hopefully, alot more countries are coming next year being 2023,  fingers crossed for the next country that will make bitcoin legal tender.

Cast your votes on coinmarketcap... https://coinmarketcap.com/legal-tender-countries/

Thanks for the linked share and i wasnt aware that CMC does have this kind of poll or some sort of voting.We could really see that there are already lots of countries or places which does have this kind of consideration on making Bitcoin as a legal tender.

Its really that impressive that El Salvador do able to held up on these price market swings which lots had been telling about on the bad decisions that they do make but they arent making themselves
to be that heavily affected but instead they do accumulate even more.

They are really showing about their goals and trust towards bitcoin despite of market conditions and volatility.

[famososMuertos]

Right now I am collecting everything I can to go to El Salvador, I want to go myself to find out and see everything that is related to Bitcoin in that beautiful country, and I want to know the city of Bitcoin, I would like to see even from afar the President Bukele, just as the president sees himself here in Ecuador, for me a country that is friendly to Bitcoin is an index that they are very cool people, I also want to be part of that history because El Salvador is an example to the world.

Good for you, hopefully this year and you can document that trip in the first person, visiting any country for the first time is always exciting even if you have a review of it, but without a doubt that El Salvador has that precedent with bitcoin that makes it special even for those who are not followers of bitcoin.

So, successfuls in that goal, El Salvador needs that kind of enthusiasm.

[JayJuanGee]

Right now I am collecting everything I can to go to El Salvador, I want to go myself to find out and see everything that is related to Bitcoin in that beautiful country, and I want to know the city of Bitcoin, I would like to see even from afar the President Bukele, just as the president sees himself here in Ecuador, for me a country that is friendly to Bitcoin is an index that they are very cool people, I also want to be part of that history because El Salvador is an example to the world.

A nice plan you have and a good way to see the world mate,  I personally have never been to El Salvador and up until now, I've not had any plan of traveling there,  but my instinct tells me the experience will be worth the stress and expense.
El Salvador have made the path clear for other countries to follow,  and like we all already know,  the central African Republic have traveled that same path,  hopefully, alot more countries are coming next year being 2023,  fingers crossed for the next country that will make bitcoin legal tender.

Cast your votes on coinmarketcap... https://coinmarketcap.com/legal-tender-countries/

Thanks for the linked share and i wasnt aware that CMC does have this kind of poll or some sort of voting.We could really see that there are already lots of countries or places which does have this kind of consideration on making Bitcoin as a legal tender.

Its really that impressive that El Salvador do able to held up on these price market swings which lots had been telling about on the bad decisions that they do make but they arent making themselves
to be that heavily affected but instead they do accumulate even more.

They are really showing about their goals and trust towards bitcoin despite of market conditions and volatility.

Regarding the poll, I did appreciate the link that Fivestar4everMVP had provided - even though it is difficult to have very much confidence in such a poll - but if such a poll were made through prediction markets (in which betting was involved) then the information would likely be a better predictor regarding what might happen..

[Wiwo]

Regarding the poll, I did appreciate the link that Fivestar4everMVP had provided - even though it is difficult to have very much confidence in such a poll - but if such a poll were made through prediction markets (in which betting was involved) then the information would likely be a better predictor regarding what might happen.

I also did participate in the poll though, but having in mind that I am just my own predictions and perception as regards to which country is next to make Bitcoin and legal tender. Several factors influence my decision to choose which country I think will be the next Bitcoin country and such factors are not limited to the political will of the leader and the Bitcoin-friendly approach. E.g taking a tech approach towards innovative involvement and creating an enabling environment for their citizens to thrive upon in the young growing cryptocurrency industry. On that list, the only country I see is linen on cryptocurrency is United 🇺🇸 States and that is why El Salvador from that region has adopted Bitcoin as legal tender. Bitcoin mainstream adoption is going to begin in the United 🇺🇸 states in any way that is just my thoughts.

[n0ne]

Earthquake have been experienced on some part of the ocean. 86km north Pacific of San Salvador it is being experienced. This hasn't made any big destruction. Right now if the government make a sell and with the profit from bitcoin does an advancement to the earthquake early deduction system. We can see people who once opposed bitcoin considering the adoption in the positive way.

[JayJuanGee]

Regarding the poll, I did appreciate the link that Fivestar4everMVP had provided - even though it is difficult to have very much confidence in such a poll - but if such a poll were made through prediction markets (in which betting was involved) then the information would likely be a better predictor regarding what might happen.

I also did participate in the poll though, but having in mind that I am just my own predictions and perception as regards to which country is next to make Bitcoin and legal tender. Several factors influence my decision to choose which country I think will be the next Bitcoin country and such factors are not limited to the political will of the leader and the Bitcoin-friendly approach. E.g taking a tech approach towards innovative involvement and creating an enabling environment for their citizens to thrive upon in the young growing cryptocurrency industry. On that list, the only country I see is linen on cryptocurrency is United 🇺🇸 States and that is why El Salvador from that region has adopted Bitcoin as legal tender. Bitcoin mainstream adoption is going to begin in the United 🇺🇸 states in any way that is just my thoughts.

I have come to believe that countries who do not have their own currencies are more inclined to adopt bitcoin as legal tender, so there seems to be a bit of a lack of an incentive for countries with a currency to adopt bitcoin and they may well start to employ policies and practices that are more hostile to bitcoin.. that's my current thinking about trying to consider what factors would be more important to attempt to predict which countries are more likely to be next.

[Doan9269]

El Salvador has spent just $100 million on #Bitcoin and gained not only BILLIONS worth in brand value but, most importantly, the economic sovereignty of FU money in the treasury. @StacyHerbert
https://twitter.com/BTC_Archive/status/1559472091069546496?t=r2yCJHDTxyFJmZTDZwC_RQ&s=19

that is what having asset in bitcoin could promise over time, this may not have been achieved but investing on bitcoin is what can be foreseen in the nearest and  possible future, Stacy Herbert stage this out in other to give more supportive hands in other to make bitcoin a digital asset worth going for, amidst all that had been said of El-Savador's bitcoin adoption, the future right ahead is more than the current situation ever encountered, anticipate for the next move on bullrun.

[DdmrDdmr]

Bank to the Future’s CEO recently tweeted the following content:

Myself, @nayibbukele & the @BankToTheFuture team are cooking up a number of recovery plans in El Salvador for global distressed #Bitcoin lending companies. Can be an amazing opportunity for all affected when you have the perfect leadership, laws & #Bitcoin #DepositorsFirst

See: https://twitter.com/SimonDixonTwitt/status/1560587656152911874

Now when last month the Ambassador of El Salvador to the United States declared that the investment was going to be of around 6000 M $ in BTC in the country, I had no idea what type of investments she was talking about. We now know that at least part of that sum (lacking a concrete percentage or absolute figure – I want to think that they don’t mean 100%) are going towards recuing Bitcoin lending companies in distress, and this has caught my attention.

I haven’t managed to see any concrete companies of the type that are known to be in distress, and I’m wondering how big of a problem that is, given that there’s a company ready to invest heavily in bailing them out of the situation, involving the county’s president in the process.

[JayJuanGee]

Bank to the Future’s CEO recently tweeted the following content:

Myself, @nayibbukele & the @BankToTheFuture team are cooking up a number of recovery plans in El Salvador for global distressed #Bitcoin lending companies. Can be an amazing opportunity for all affected when you have the perfect leadership, laws & #Bitcoin #DepositorsFirst

See: https://twitter.com/SimonDixonTwitt/status/1560587656152911874

Now when last month the Ambassador of El Salvador to the United States declared that the investment was going to be of around 6000 M $ in BTC in the country, I had no idea what type of investments she was talking about. We now know that at least part of that sum (lacking a concrete percentage or absolute figure – I want to think that they don’t mean 100%) are going towards recuing Bitcoin lending companies in distress, and this has caught my attention.

I haven’t managed to see any concrete companies of the type that are known to be in distress, and I’m wondering how big of a problem that is, given that there’s a company ready to invest heavily in bailing them out of the situation, involving the county’s president in the process.

Yes, of course, there would be some devil in the details in terms of what kinds of rescuing would be taking place versus entering into some business deals in which distressed companies can be purchased on the cheap, and surely some "deals" might be better than others, and surely bitcoiners are going to be bothered by the idea of bailing out companies for the mere sake of their having had made bad (or even corrupt or Ponzi-like decisions), and surely what is conduct enabling "pure bitcoin" (if there is such a thing?) that gets away from the various kind of morally repugnant behaviors of sovereigns in regards to money printing and debt being used to inflate the supply of an asset/currency (which can either be characterized as fractional reserves or money printing) versus deal that might emphasize more of the bitcoiny aspect of having a bearer instrument.. that has ways of empowering people, institutions and governments as long as they are NOT going down too far on a slippery slope of just printing bitcoin (or whatever it is that some of the supposedly distressed companies had been doing..... lending twice.. not having the bitcoins they claimed to have, etc, etc)..

The devil might be in the details regarding figuring out what kinds of bedfellows they are finding and how much intervening would they be doing in regards to any kinds of bail outs or rescue packages that they consider to be in their interest (presumably in the interst of the El Salvador public, too)...

[Z-tight]

Bitcoin is a very good site. Everyone benefits from it. I also do a lot of work myself. And this is a good site I got enough proof. It is very easy and enjoyable job and very easy way to earn for common people. Bitcoin development is very fast. Everyone is earning good money from Bitcoin. Who is behind Bitcoin development. I respect them. Finally, I would like to say that those who are developing Bitcoin should go further.

Bitcoin is not a site, it is a network, a technology, and not everyone benefits from it, some people are afraid, they don't trust it, they think it is a scam, and they miss out on freedom, we can only hope that they know better and research more into it in the future.

Bitcoin is not a job, it is a currency and an asset, it is not a quick earning scheme, bitcoin is a medium of exchange and in long term it is an asset that has shown it can provide great returns.

Yes Bitcoin development is fast, but no, not everyone is earning money from it. Satoshi created bitcoin, and developers and volunteers have ensured that the progress of the network remains endless. These are good links to get you started:

https://learnmeabitcoin.com/
https://bitcoin.org/en/how-it-works
https://theinternetofmoney.info/
https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

[Iranus]

Bitcoin is a very good site. Everyone benefits from it. I also do a lot of work myself. And this is a good site I got enough proof. It is very easy and enjoyable job and very easy way to earn for common people. Bitcoin development is very fast. Everyone is earning good money from Bitcoin. Who is behind Bitcoin development. I respect them. Finally, I would like to say that those who are developing Bitcoin should go further.

Based on what you are saying, it appears that you do not have a clear understanding of bitcoin. Spend more time learning about bitcoin.
@Z-tight, have suggested you some bitcoin related websites, use them and learn about bitcoin before taking steps like investing or using bitcoin.

Welcome to bitcointalk forum, it is the leading forum about bitcoin. I think you should visit this thread to understand the forum well before using it. https://bitcointalk.org/index.php?board=39.0

[stompix]

See: https://twitter.com/SimonDixonTwitt/status/1560587656152911874

I haven’t managed to see any concrete companies of the type that are known to be in distress, and I’m wondering how big of a problem that is, given that there’s a company ready to invest heavily in bailing them out of the situation, involving the county’s president in the process.

Celsius
Now, applying thirteen layers of tinfoil, what kind of a firework shitshow we're going to witness if it turns out those coins Salvador bought have been invested in Celsius? More layers of tinfoil:

Simon Dixon, CEO of prominent Celsius investor BnkToTheFuture, said this morning that he secured up to $6 billion in investor liquidity to solve Celsius’ liquidity woes — only to watch the deal fall apart after Celsius refused to show its financial records to potential investors.

I'm starting t wonder what could be worse, having the money invested in Celsius, or using 6 billion to bail out some bankrupt monkey NFTs

Why can't some just stick to Bitcoin, simple Bitcoin, you own your coins, you spend your coins, you buy your coins with your own money!
No bonds, magical vulcanos, bailing private companies, pet hospitals, centralized wallets, all that shit!

[JayJuanGee]

See: https://twitter.com/SimonDixonTwitt/status/1560587656152911874

I haven’t managed to see any concrete companies of the type that are known to be in distress, and I’m wondering how big of a problem that is, given that there’s a company ready to invest heavily in bailing them out of the situation, involving the county’s president in the process.

Celsius
Now, applying thirteen layers of tinfoil, what kind of a firework shitshow we're going to witness if it turns out those coins Salvador bought have been invested in Celsius? More layers of tinfoil:

Simon Dixon, CEO of prominent Celsius investor BnkToTheFuture, said this morning that he secured up to $6 billion in investor liquidity to solve Celsius’ liquidity woes — only to watch the deal fall apart after Celsius refused to show its financial records to potential investors.

I'm starting t wonder what could be worse, having the money invested in Celsius, or using 6 billion to bail out some bankrupt monkey NFTs

Why can't some just stick to Bitcoin, simple Bitcoin, you own your coins, you spend your coins, you buy your coins with your own money!
No bonds, magical vulcanos, bailing private companies, pet hospitals, centralized wallets, all that shit!

Your point may be fair about Dixon currently working on figuring out ways to rescue (provide liquidity to Celsius), but your references are a bit weird because one of the links is from a July 12th article.

I'm somewhat in agreement that strict bitcoin may well be better, but how are you going to stop people/institutions/governments from attempting to use whatever tools are available to them to accomplish their various missions - and yeah, the use of the various tools is not the same as using bitcoin directly - but we have to attempt to be realistic in terms of what adoption looks like and perhaps some of the challenges that bitcoin has in terms of how it survives while being manipulated and used by these various tools - and surely many of us know and appreciate a decent amount of the value of bitcoin does come from being able to hold it directly - but at the same time, we might well be able to appreciate that there are a whole hell of a lot of ways to fractionally reserve it and to create various debt instruments - which in the end are ways to screw around with its actual strict supply.. which also seems to take away from bitcoin's abilities to pump forever.

what's the solution?  how you going to stop people from manipulating bitcoin like this? design a better bitcoin? pull all your coins away from third parties?  people are still going to use third parties and even create debt instruments regarding bitcoin, even if we don't want them to.  I am not anti-government, but I doubt governments are going to help.. and I am not even sure if there is anything that governments can do to actually "help."...

[stompix]

Your point may be fair about Dixon currently working on figuring out ways to rescue (provide liquidity to Celsius), but your references are a bit weird because one of the links is from a July 12th article.

That's why the thirteen layers of tinfoil, if we would have proofs something like this would be real it would be a clear fact, not speculation.

what's the solution?  how you going to stop people from manipulating bitcoin like this?

Simple, you don't!
I said it quite a few times, that's what I like about Bitcoin, it's a tool that you can use as you see fit, you want to invest and hold your coins till you realize not even the whole yearly production of Pfizer which you have bought with one BTC is going to help you, that's your choice, you want to use it as a way to send money to your relatives to help them survive during these times, good for you. A way to hide some of your wealth from your new spouse you meant 3 days ago on Tinder, it works perfectly, you want to flee the country but you know you won't pass the checkpoints with 10 kilos of gold in your ass, bitcoin for the rescue!!!!

Do people want to manipulate the price? If they can, that's it, it's a free market, just as envisioned, where no central authority can decide what's good and what's bad. My feeling is not that we need a new bitcoin, it's rather that the current population is not ready for bitcoin.

but how are you going to stop people/institutions/governments from attempting to use whatever tools are available to them to accomplish their various missions

If there would have been a way to do so we wouldn't have needed Bitcoin in the first place!

[Smack That Ace]

While many are buzzing, skeptical about El Salvador will default when bitcoin is in bear season? In early August, the president of El Salvador said that their tourism industry had recovered and returned to pre-covid19 levels thanks to bitcoin. Recently, El Salvador's Ambassador to the United States said: Bitcoin is changing the image of their country and attracting new investments. Bitcoin is bringing a breath of fresh air to El Salvador, they are moving forward step by step and breaking everyone's doubts.
https://twitter.com/BitcoinMagazine/status/1562536048923533314

[Jatiluhung]

While many are buzzing, skeptical about El Salvador will default when bitcoin is in bear season? In early August, the president of El Salvador said that their tourism industry had recovered and returned to pre-covid19 levels thanks to bitcoin. Recently, El Salvador's Ambassador to the United States said: Bitcoin is changing the image of their country and attracting new investments. Bitcoin is bringing a breath of fresh air to El Salvador, they are moving forward step by step and breaking everyone's doubts.
https://twitter.com/BitcoinMagazine/status/1562536048923533314

El Salvador has indeed become famous since adopting bitcoin as a legal tender.

El salvador was able to reverse the state of tourism which originally declined drastically due to covid 19. and now that el salvador has adopted bitcoin the income from tourism to the country has increased rapidly. compared to other countries that have not been able to make a comeback in the post-covid-19 tourism sector.
even when other countries have not been able to recover the level of income from tourism which has decreased due to the covid-19 pandemic, it is a different story with el salvador which has succeeded in attracting tourists.

only a handful of countries are still cynical about el salvador. because now most countries are starting to pay attention to El Salvador and it is hoped that in the future they will follow the same steps.