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

[karabiber]

I congratulate Nayib Bukele's revolutionary decisions. El Salvador says it will become one of the richest countries in the world with its Bitcoin policy. They can make it happen in the next bull run. International organizations, especially the IMF, argued that Salvador's Bitcoin opening would have a disruptive effect on the country's economy. Because the IMF is against the change of order.

El Salvador citizens stop using their Bitcoin wallet called Chivo in Bitcoin declines but President Nayib Bukele does not give up his belief in Bitcoin and makes a commitment to receive 1 BTC every day. We will hear more about El Salvador and the President in the future.

[Wiwo]

I congratulate Nayib Bukele's revolutionary decisions. El Salvador says it will become one of the richest countries in the world with its Bitcoin policy. They can make it happen in the next bull run. International organizations, especially the IMF, argued that Salvador's Bitcoin opening would have a disruptive effect on the country's economy. Because the IMF is against the change of order.

El Salvador citizens stop using their Bitcoin wallet called Chivo in Bitcoin declines but President Nayib Bukele does not give up his belief in Bitcoin and makes a commitment to receive 1 BTC every day. We will hear more about El Salvador and the President in the future.

Probably when Bitcoin reach 200k El Salvador will be able to pay off all their debt using their profits from their bitcoin holding and the country buy position were all below 60k price if I am not mistaking.
*Secondely according to statistical record a handful full of El Salvadorian are still using the government approved chivo wallet most especially government agencies and civil worker within the government may make up for this number of chivo wallet users.
*El Salvador does not prohibits the use of self custody wallets by citizens so the rate of bitcoin adoption and usage in El Salvador should not be limited to only chivo wallets users alone.
*In general,  bitcoin usage and adoption in El Salvador have increase generally compared to the earlier stage when the only thing El Salvadorians we're interested in is the $30 airdrop from the government deposit into Chivo wallets.

[jokers10]

Probably when Bitcoin reach 200k El Salvador will be able to pay off all their debt using their profits from their bitcoin holding and the country buy position were all below 60k price if I am not mistaking.
...

When bitcoin is an official currency in a country it is good to hold enough bitcoins not as investment but as fuel for economy as you may need some money any time. And earning on outer investment is not so progressive for country, it is much better to develop an own economy. And if plans with volcano power plant will come true and other expectations with El Salvador's economy development will take shape it would be much better then just to sell their bitcoins on the top.

[Oneandpure]

Probably when Bitcoin reach 200k El Salvador will be able to pay off all their debt using their profits from their bitcoin holding and the country buy position were all below 60k price if I am not mistaking.
*Secondely according to statistical record a handful full of El Salvadorian are still using the government approved chivo wallet most especially government agencies and civil worker within the government may make up for this number of chivo wallet users.
*El Salvador does not prohibits the use of self custody wallets by citizens so the rate of bitcoin adoption and usage in El Salvador should not be limited to only chivo wallets users alone.
*In general,  bitcoin usage and adoption in El Salvador have increase generally compared to the earlier stage when the only thing El Salvadorians we're interested in is the $30 airdrop from the government deposit into Chivo wallets.

High speculation about Bitcoin will reach above $200,000 and El Savador losing opportunity for paying off all their debt because waiting longer time need to pay higher loan interest. I don't blame with Bitcoin potential one day later break out to higher price, but above $200,000 seems unacceptable reason with Bitcoin current price right now under $24,000.

El Savador have unique way when first time adopting Bitcoin as legal currency transaction by giving free airdrop for all their people trough Chivo wallet and each user will receive $30, I think another countries can adopt with this unique way when trying make Bitcoin as legal payment method in their country.

[Doan9269]

Probably when Bitcoin reach 200k El Salvador will be able to pay off all their debt using their profits from their bitcoin holding and the country buy position were all below 60k price if I am not mistaking.
...

When bitcoin is an official currency in a country it is good to hold enough bitcoins not as investment but as fuel for economy as you may need some money any time. And earning on outer investment is not so progressive for country, it is much better to develop an own economy. And if plans with volcano power plant will come true and other expectations with El Salvador's economy development will take shape it would be much better then just to sell their bitcoins on the top.

El-Savador as at now is already paying part of its debts and looking for more opportunities through the volcanic bond at hand, there's already positive indications for bitcoin price since the beginning of this year as it has always been surging high and one of the reasons to this may be because we are heading closer to bitcoin having, there are some other major events along which can be considered to have contributed to the rise, El-Savador is taking every single opportunities to make the best out of it bitcoin adoption and that's why you could experience some of its decisions to be outstanding and unique, now that it's determined to give a new look the operations of its economy will also add more savour to the nearest future result we shall behold from El-Savador's bitcoin adoption, the bullrun in other hand is warming up gradually as bitcoin is already giving a smiling price for the bull to soon begin.

[jokers10]

When bitcoin is an official currency in a country it is good to hold enough bitcoins not as investment but as fuel for economy as you may need some money any time. And earning on outer investment is not so progressive for country, it is much better to develop an own economy. And if plans with volcano power plant will come true and other expectations with El Salvador's economy development will take shape it would be much better then just to sell their bitcoins on the top.

El-Savador as at now is already paying part of its debts and looking for more opportunities through the volcanic bond at hand, there's already positive indications for bitcoin price since the beginning of this year as it has always been surging high and one of the reasons to this may be because we are heading closer to bitcoin having, there are some other major events along which can be considered to have contributed to the rise, El-Savador is taking every single opportunities to make the best out of it bitcoin adoption and that's why you could experience some of its decisions to be outstanding and unique, now that it's determined to give a new look the operations of its economy will also add more savour to the nearest future result we shall behold from El-Savador's bitcoin adoption, the bullrun in other hand is warming up gradually as bitcoin is already giving a smiling price for the bull to soon begin.

Repaying debt is good but if you don't develop your economy you'll get into debt again and again. If we talk about volcano power generation it is prospective not just because you can mine bitcoins with it; it is expensive to create a plant of such type but it gives a very cheap and green power which will work for economy of El Salvador for tens of years. They can mine bitcoins with the generated power or get some another power depended industry, doesn't matter, main thing that it is not just investing, it is a point from which economy can grow. The same point is a financial system El Salvador got when adopted bitcoin, because bitcoin itself is a financial system. Bitcoin is good not just because it is bitcoin, but because of opportunities it gives.

[wmaurik]

Roman Martínez and Robert ₿reedlove said welcome and they really enjoyed the atmosphere in the country of El Salvador with the Bitcoin inscriptions and logos on their clothes and in the house and maybe also in other places in the country. It seems that the country of El Salvador is very pleasant to live in, but I don't know how the wheel of life is there. But if there are some people who have been there and return to their country of origin, then they miss El Salvador again. That is a sign that the atmosphere in the country of El Salvador itself is very comfortable to live in. I know this through a retweet from Nayib Bukele

[Wiwo]

Roman Martínez and Robert ₿reedlove said welcome and they really enjoyed the atmosphere in the country of El Salvador with the Bitcoin inscriptions and logos on their clothes and in the house and maybe also in other places in the country. It seems that the country of El Salvador is very pleasant to live in, but I don't know how the wheel of life is there. But if there are some people who have been there and returned to their country of origin, then they miss El Salvador again. That is a sign that the atmosphere in the country of El Salvador itself is very comfortable to live in. I know this through a retweet from Nayib Bukele

I think when it comes to living conditions and what a country gat to offer, a visitor may not really be able to give an accurate living experience in that geographical location since they don't spend enough time to experience the most out of what the general population are experiencing to for certain if you really want to know the economic and social living standard in El Salvador then I think you should enquire from the citizens who have lived all their life in the country and you should know that El Salvador has a long record of.
*High rate of inflation and huge external borrowing and general economic crises coupled with political instability.
* those problems have led to low infrastructure development, a high rate of crime and other social and political crime and at a point, the country is not attracting important guests that can impact the country's economy and the only major development in El Salvador for over a decade is the Bitcoin adoption which has open up El Salvador economy to external forces and this will lead to future prosperity for El Salvador.

[Ryu_Ar1]

Probably when Bitcoin reach 200k El Salvador will be able to pay off all their debt using their profits from their bitcoin holding and the country buy position were all below 60k price if I am not mistaking.
...

When bitcoin is an official currency in a country it is good to hold enough bitcoins not as investment but as fuel for economy as you may need some money any time. And earning on outer investment is not so progressive for country, it is much better to develop an own economy. And if plans with volcano power plant will come true and other expectations with El Salvador's economy development will take shape it would be much better then just to sell their bitcoins on the top.

El-Savador as at now is already paying part of its debts and looking for more opportunities through the volcanic bond at hand, there's already positive indications for bitcoin price since the beginning of this year as it has always been surging high and one of the reasons to this may be because we are heading closer to bitcoin having, there are some other major events along which can be considered to have contributed to the rise, El-Savador is taking every single opportunities to make the best out of it bitcoin adoption and that's why you could experience some of its decisions to be outstanding and unique, now that it's determined to give a new look the operations of its economy will also add more savour to the nearest future result we shall behold from El-Savador's bitcoin adoption, the bullrun in other hand is warming up gradually as bitcoin is already giving a smiling price for the bull to soon begin.

I read some news about this they even paid off the payment of $ 800 million (principal and interest) Central American dollar bonds which are due last January 24th.
https://www.bloomberg.com/news/articles/2023-01-24/bukele-says-el-salvador-repaid-maturing-bond-dodging-default

This is clearly something interesting for El Salvador now, after bravely continuing to do some things that are not done by other countries, their president is always active on his Twitter about discussing bitcoin and bitcoin, even they are also always out of the box like when Miss El did. Salvador did at Miss Universe.
I think under these conditions they will continue and be more vocal in introducing bitcoin.

[Wiwo]

I read some news about this they even paid off the payment of $ 800 million (principal and interest) Central American dollar bonds which are due last January 24th.
https://www.bloomberg.com/news/articles/2023-01-24/bukele-says-el-salvador-repaid-maturing-bond-dodging-default

This is clearly something interesting for El Salvador now, after bravely continuing to do some things that are not done by other countries, their president is always active on his Twitter about discussing bitcoin and bitcoin, even they are also always out of the box like when Miss El did. Salvador did at Miss Universe.
I think under these conditions they will continue and be more vocal in introducing bitcoin.

Well there have bee lot of development and payoff of debts and setting out some funds for capital development and there has been some news lately that points to the fact that the bonds which some parts will build the bitcoin city that will also sponsor the volcano alternative powered generation to support and supply power to the bitcoin city in this new development have ushered in a new phase of development that points to the success of bitcoin adoption in El Salvador in general and we should be on the lookout for more statistical data that will be released in form of white papers of the whole bitcoin projects in El Salvador this document will provide the following data.
*Provide an accurate figure of the cost of the projects such as bitcoin city how much the government will spend and how the El Salvador government intend to generate the money.
*What are the project will cover and what to expect with the expected time frames to achieve that?

[Aanuoluwatofunmi]

Roman Martínez and Robert ₿reedlove said welcome and they really enjoyed the atmosphere in the country of El Salvador with the Bitcoin inscriptions and logos on their clothes and in the house and maybe also in other places in the country. It seems that the country of El Salvador is very pleasant to live in, but I don't know how the wheel of life is there. But if there are some people who have been there and return to their country of origin, then they miss El Salvador again. That is a sign that the atmosphere in the country of El Salvador itself is very comfortable to live in. I know this through a retweet from Nayib Bukele

Another reality to say about El-Savador is that no one will make a tourist visit to the country and will ever be eager to leave sooner because it provides alot to see and learn from, talking about the bitcoin adoption, the bitcoin beach, hotels and industries accepting bitcoin only for payments, the surf zone, the volcanic bond site plan, bitcoin materials and academic schemes, and many other bitcoin exhibitions on display along the bitcoin free zone, while the said tourist could also also enjoy a massive extension of stay from thirty days to ninety days without any stress, i wish i also have an opportunity to visit El-Savador sooner or later because experience is better than the story.

[Josefjix]

Another reality to say about El-Savador is that no one will make a tourist visit to the country and will ever be eager to leave sooner because it provides alot to see and learn from, talking about the bitcoin adoption, the bitcoin beach, hotels and industries accepting bitcoin only for payments, the surf zone, the volcanic bond site plan, bitcoin materials and academic schemes, and many other bitcoin exhibitions on display along the bitcoin free zone, while the said tourist could also also enjoy a massive extension of stay from thirty days to ninety days without any stress, i wish i also have an opportunity to visit El-Savador sooner or later because experience is better than the story.

Making bitcoin legal tender in El Salvador is undoubtedly one of the country's most rapidly evolving initiatives. It is crucial for its residents to possess bitcoins and to have access to them. Additionally, it is a surfer's paradise because it receives the largest swells from the Pacific Ocean and can adapt to the longest wave in the area. El Salvador is referred to as the "land of volcanoes" since it has more than 100 volcanoes on its land, 20 of which are still active. Amazing tourism attractions are available throughout the nation, and travelers are always welcome.

[Tipeform$]

Just a few pointers I saw today in an article, stating that the problems with the Chivo wallet and the bitcoin ATMs seem to persist. The article below referenced though, lacks any kind of quantification, and whilst the article’s heading clearly points in one direction, we can’t really infer whether the problems depicted within are generalized or delimited to a small set of cases.

Perhaps a couple of insights that the article provides are (again, not quantified):

- There seems to be a fair share of commerce sites that still do not accept bitcoin, or have determined not to do so (regardless of the fact that they are compelled to do so). This, however, could be rather more meaningful in some Departments (territorial organizations) over others.

-   Apparently, it seems easy to come across bitcoin ATMs that don’t have any cash to dispense upon trying to perform a sale. People have learnt a workaround that involves converting to fiat in the Chivo app and routing that off to their bank account in order to use a regular ATM, though that defeats one of the great arguments in favour ot bitcoin over there (a significant segment of the population does not have a bank account).


See (Google Translated):
https://www-criptonoticias-com.translate.goog/comunidad/atiendan-fallas-chivo-wallet-grito-no-cesa-el-salvador/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp

Side note (interesting lateral read – biggest jail in latam):
https://www-pacozea-com.translate.goog/el-salvador-inaugura-la-carcel-mas-grande-de-latinoamerica-para-40-mil-pandilleros/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp

#Bitcoin ATM  🇸🇻🇸🇻🇸🇻
#chivo  #Bitcoin is for everyone



photo source


El Salvador Chivo wallet and bitcoin ATM pointers are very crowded due to low numbers.  The scope of Chivo app will increase day by day and spread among people.  Now it's just a matter of waiting for people to create bank accounts.

[yohananaomi]

#Bitcoin ATM  🇸🇻🇸🇻🇸🇻
#chivo  #Bitcoin is for everyone



photo source


El Salvador Chivo wallet and bitcoin ATM pointers are very crowded due to low numbers.  The scope of Chivo app will increase day by day and spread among people.  Now it's just a matter of waiting for people to create bank accounts.

after the burning of ATMs because some residents protested, but that did not make the addition of Bitcoin ATM machines more intense in El Salvador. but it is not easy to be able to meet the needs quickly because it must also be balanced with the increasing number of residents who want to use it.
The good news is that some businesses in El Salvador are already transacting using bitcoin and the coverage, even though it's not big, has reached 14% and will continue to move up as more and more ATMs become available.

[n0ne]

Amidst the protests there are increasing usage and users. This is felt through the crowd on the ATMs. Government have understood well and have been installing more and more ATMs throughout the country is really a must to keep things in an orderly manner.

[Luzin]

El Salvador Chivo wallet and bitcoin ATM pointers are very crowded due to low numbers.  The scope of Chivo app will increase day by day and spread among people.  Now it's just a matter of waiting for people to create bank accounts.

Of course, everything takes time and money. I think they've accounted pretty well. El Salvador is a category of developing countries in America, so they are becoming a country that is carrying out a revolution. Moreover, their population is quite large, while their area is quite small. Perhaps their funds are also limited because Nayib once said, they will continue to collect bitcoins even if the price of bitcoin continues to fall.

I searched for the total of ATMs Crypto in El Salvador, from the data I obtained they have 212 crypto ATMs. The areas with the most ATMs are San Martin 32 ATMs and San Salvador 28 ATMs. There are about 63 areas that have ATMs. I don't know if this is valid or not.  But this number is incredible.

Source: https://coinatmradar.com/country/64/bitcoin-atm-el-salvador/

[jokers10]

...
I searched for the total of ATMs Crypto in El Salvador, from the data I obtained they have 212 crypto ATMs. The areas with the most ATMs are San Martin 32 ATMs and San Salvador 28 ATMs. There are about 63 areas that have ATMs. I don't know if this is valid or not.  But this number is incredible.
...

I don't know what source does CNBC use but they also say about 212 BTM in El Salvador what places the country on the 5th place in quantity of BTM (higher are just USA, Canada, Spain and Australia). If to keep in mind that El Salvador has the smallest population among these 5, it is a good result. Of course we expect there will be more BTM in the country but you are right, what they have is impressive already.

[Oneandpure]

I don't know what source does CNBC use but they also say about 212 BTM in El Salvador what places the country on the 5th place in quantity of BTM (higher are just USA, Canada, Spain and Australia). If to keep in mind that El Salvador has the smallest population among these 5, it is a good result. Of course we expect there will be more BTM in the country but you are right, what they have is impressive already.

This information published on 30 January 2023, I don't thin why El Savador placed on 5th position countries in quantity of Bitcoin transaction machine, United State and Canada seems not have regulated with Bitcoin transaction and I don't sure they have many BTM than El Savador have got regulated with Bitcoin. Population can't be comparison because El Savador become the first country around the world adopted Bitcoin as legal transaction on many aspects.

I have negative side with CNBC in my country because they don't neutral when updating information about Bitcoin and cryptocurrency, many time CNBC want to make FUD with bad news about Bitcoin.

[DdmrDdmr]

When comparing the number of bitcoin ATMs in different countries, one interesting complementary exercise is to relativize the numbers to the population (we could take it a step further and only ponder population above a certain age, but that’s not that easy to come across).

Crossing data from CoinATMRadar and total population (live data) for those countries with most BATMs we get:

USA (33.708 / 339.277.037):    99,35 BATMs/Million people
Canada (2.651 / 38.652.496):   68,59 BATMs/Million people
Spain (272 / 47.536.966):          5,72 BATMs/Million people
Australia (250 / 26.336.324):     9,49 BATMs/Million people
Poland (224 / 41.380.246):        5,41 BATMs/Million people
El Salvador (212 / 6.352.559):  33,37 BATMs/Million people
Switzerland (156 / 8.774.378):  17,78 BATMs/Million people

That’s to say, in relative terms, USA and Canada still lead, but El Salvador takes the third place in the podium.

[Zlantann]

When comparing the number of bitcoin ATMs in different countries, one interesting complementary exercise is to relativize the numbers to the population (we could take it a step further and only ponder population above a certain age, but that’s not that easy to come across).

Crossing data from CoinATMRadar and total population (live data) for those countries with most BATMs we get:

USA (33.708 / 339.277.037):    99,35 BATMs/Million people
Canada (2.651 / 38.652.496):   68,59 BATMs/Million people
Spain (272 / 47.536.966):          5,72 BATMs/Million people
Australia (250 / 26.336.324):     9,49 BATMs/Million people
Poland (224 / 41.380.246):        5,41 BATMs/Million people
El Salvador (212 / 6.352.559):  33,37 BATMs/Million people
Switzerland (156 / 8.774.378):  17,78 BATMs/Million people

That’s to say, in relative terms, USA and Canada still lead, but El Salvador takes the third place in the podium.

This vision of a President is gradually becoming a global success. El Salvador is a country that most people wrote off and predicted that the country's economy will crash due to the huge Investment in Bitcoin is gradually becoming a force in the Bitcoin industry.  The country has overtaken countries like the UK in the number of Bitcoin ATMs. President Bukele's target last year was to install 200 ATMs but the country has surpassed this projections because of favorable government policies and the increase in Bitcoin investment and tourism. Currently, the head of the financial ministry of my country who is a major critic of El Salvador's Bitcoin policy is having some rethinking.