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

[Who is John Galt?]

When a CBDC will be introduced, that thing is most likely not going to be an option and it also probably won't allow you to transfer any of your CBDC out of the network such that you can use your CBDC as you wish, let alone anonymously.

CBDC, despite some possible technical similarities, is not nearly the same as the introduction of bitcoin, even if you take into consideration custodial Chivo Wallet. Because in El Salvador you can use any bitcoin, not only through Chivo. And CBDC implies complete and total control over all the money of citizens. The government seeks to decide whether a citizen can spend his money and on what. And it is much worse even than the existing model. So the decision of the government of El Salvador gives the Salvadorans much more advantages than any difficulties.

One thing El Salvador have not done is to dive into shitcoining since their made the stand very clear about Bitcoin adoption and the whole developing in El Salvador have been bitcoin oriented which is something most significant for the policy, since they don't want to deviate from the original plan of making bitcoin the only legal tender in and among other cryptocurrency but aside from that El Salvador have been the most crypto friendly country's in contemporary time.

So development of a CBDC is not capture in the El Salvador bitcoin adoption white papers and it has never been a topic of debate at whatever time, so there is no possibility of having a CBDC in El Salvador any moment or in the nearest future.

That's right, and that's why we are comparing El Salvador's model with models of countries that are planning to implement CBDC. While the adoption of bitcoin opens up numerous opportunities for both Salvadorans and the El Salvadoran government, for those countries in which CBDCs are being implemented, the number of threats to citizens is growing dramatically. But an excess of state control also does not lead to anything good. We need a balance.

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[mendace]

Your analysis doesn't have facts or references to back up your claim. I don't also believe that everybody in El Salvador abandoned Bitcoin and went back to the dollar. It will be proper to assume that many people you know did that because there are millions of people you don't know and some might have embraced bitcoin.

Don't also forget that the bitcoin bear run coincided with El Salvador's legal tender policy. Hence, you will expect some disappointment from the citizens. But do you think there will be an increase in adoption if bitcoin price gets to $60,000 and above?

Did you watch the vlog I linked?  And I recommend you watch all the episodes, because these guys have done a great job that no one else has ever done until now.  The local communities of Mi Primero Bitcoin have said that there is no incentive to use Bitcoin and the fact that the population is illiterate is a fact, you will not think that knowing how to read and write means having mastery of understanding texts or knowing produce logical reasoning.  These statements of yours have no meaning if you rely on the articles you read, the real El Salvador can only be discovered on site.  The government only launched a media campaign because Bukele needed nothing more.  El Salvadorans are interested in the dollar.

[aylabadia05]

The systematic way we can say to the current government of El Salvador under the leadership of Nayyib Bukele in promoting Bitcoin as a good breakthrough towards future economic changes on the adoption of Bitcoin.

I also think that what the government of El Salvador is doing regarding Bitcoin is like building an initial foundation, because if the foundation that is being built is totally successful, then Nayyib Bukele can sit smiling happily watching his country's economic progress when there are no more chances to be elected as president .

Bukele's government is undoubtedly made up of lies and false hopes, because it initially played with the drop on the Chivo wallet to bring people closer to Bitcoin and knew that having a poor nation they would.  Now Chivo has become a centralized weapon of power that holds Bitcoin and tracks every transaction, so it will be easier to know how much money enters El Salvador from people who migrated elsewhere but who support their families.  It's a long and winding conversation, but Bukele found a way that is as anonymous-oriented as Bitcoin is to make it transparent to itself.  So when you think Bukele is doing well know that you are wrong.

I'm not going to be too hasty in the case of the Chivo wallet because the information about this issue is not very up-to-date and I think it could be information for me to learn if you provide clear references if it's true that Nayyib Bukele has been full of lies all this time.

I say that the Bitcoin promotion efforts made by the government of Nayyib Bukele are quite positive with the seriousness that we can see. Even El Salvador entered and was recorded in the Guinness World Records. For us it's a reward that is in accordance with what has been done by them.

[Mr.corol]

NEW: 🇸🇻 El Salvador is close to positive on their #Bitcoin    position 👀



Source.

[Wiwo]

NEW: 🇸🇻 El Salvador is close to positive on their #Bitcoin    position 👀

I yeah president Niyib Bukele needs a lot of thos light shades to keep all the focus he can get most especially now that the El Salvador Bitcoin starch is really accumulating a lot of dollars in profits, so the Presiden need to look head up and keep his cool until his desired result for his country is 100% achieve, if I were him I would have won a star sun shad to let the whole world know that Bitcoin is the future of money and economic salvation.

Before now, El Salvador has been known for its economic and political underdevelopment, and this problem could linger on for another decade if a holistic approach such as the president did doesn't happen, so the president has done well for the future of his country.

[LDL]

In September 2021, El Salvador declared Bitcoin as legal tender. Since then, the Latin American country has taken various groundbreaking approaches to Bitcoin. Yesterday El Salvador implemented a landmark move to strengthen Bitcoin for that country and expand financial freedom. They have officially licensed Bitfinex services for crypto-assistant securities in that country. El Salvador's issuance of this license will strengthen the securities of digital assets, from small companies to large scale, and will increase the confidence of other countries in domestic assets as well as foreign investment to strengthen the country's financial development and services.

Read details: https://blog.bitfinex.com/media-releases/bitfinex-securities-el-salvador-granted-el-salvadors-first-ever-digital-assets-license/?s=09

[Popkon6]

From the recent news I think this nice increase in investment and tourism in El Salvador Bitcoin should be followed by all the countries that have adopted Bitcoin nicely. Honduras, Guatemala, Costa Rica, United States, Nicaragua, Panama, Scotland, etc. All these countries must follow Nayib-Bukele because investors must be encouraged to increase investment.
Especially when traveling to El Salvador, travelers are free to worry about different currencies. Bitcoin has always been a ready-to-use success, so travelers must take advantage of this opportunity and be comfortable.

[Bitcoin_people]

🇸🇻 El Salvador has seen the most changes since Nayib Bukele was president. In particular, one of the areas that have changed is -
1. Population
2. Economy
3. Trade
4. Health
5. Education
6. Development
7. Labor Force
8. Environment
9. Crime
10. Immigration
11. Other

EL Salvador reported by population.
1. Population-
Chart and table of El Salvador population from 1950 to 2023. United Nations projections are also included through the year 2100.

Edit

2. Economy
In terms of economy, El Salvador has progressed more than the previous years.
GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

3. Trade
External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.


4. Health
Current expenditures on health per capita in current US dollars. Estimates of current health expenditures include healthcare goods and services consumed during each year. Healthcare has changed a lot since Nayib Bukele became president.


5. Education
Education rates are constantly increasing in El Salvador and they are making many strides in education. El Salvador did not have that much education rate before but since Nayib Bukele was the president, EL Salvador has been progressing in the field of education and technology.
Adult literacy rate is the percentage of people ages 15 and above who can both read and write with understanding a short simple statement about their everyday life.

6. Development
Poverty headcount ratio at $5.50 a day is the percentage of the population living on less than $5.50 a day at 2011 international prices. As a result of revisions in PPP exchange rates, poverty rates for individual countries cannot be compared with poverty rates reported in earlier editions.

7. Labor Force
Unemployment refers to the share of the labor force that is without work but available for and seeking employment.
But compared to the previous years, the unemployment rate is decreasing as time goes on. And El Salvador is advancing in various technological and economic fields. El Salvador has long been known to have one of the highest unemployment rates and people involved in various vices. and they were involved in various illegal activities and murders, mafia gangs etc. But now with such unemployment and dishonesty people are turning to economy and technology to advance their country.


8. Environment
Carbon dioxide emissions are those stemming from the burning of fossil fuels and the manufacture of cement. They include carbon dioxide produced during consumption of solid, liquid, and gas fuels and gas flaring.


9. Crime
Intentional homicides are estimates of unlawful homicides purposely inflicted as a result of domestic disputes, interpersonal violence, violent conflicts over land resources, intergang violence over turf or control, and predatory violence and killing by armed groups. Intentional homicide does not include all intentional killing; the difference is usually in the organization of the killing. Individuals or small groups usually commit homicide, whereas killing in armed conflict is usually committed by fairly cohesive groups of up to several hundred members and is thus usually excluded.
The number of illegal activities in El Salvador is constantly decreasing. Earlier, most of the people used to do illegal activities like torturing people in various ways. but Nayib Bukele reduced the rate of all these crimes after coming to the presidency. and EL Salvador is leading the way in development and technology and leading the country to progress with cryptocurrency in all areas.

10. Immigration

International migrant stock is the number of people born in a country other than that in which they live. It also includes refugees. The data used to estimate the international migrant stock at a particular time are obtained mainly from population censuses. The estimates are derived from the data on foreign-born population--people who have residence in one country but were born in another country. When data on the foreign-born population are not available, data on foreign population--that is, people who are citizens of a country other than the country in which they reside--are used as estimates. After the breakup of the Soviet Union in 1991 people living in one of the newly independent countries who were born in another were classified as international migrants. Estimates of migrant stock in the newly independent states from 1990 on are based on the 1989 census of the Soviet Union. For countries with information on the international migrant stock for at least two points in time, interpolation or extrapolation was used to estimate the international migrant stock on July 1 of the reference years. For countries with only one observation, estimates for the reference years were derived using rates of change in the migrant stock in the years preceding or following the single observation available. A model was used to estimate migrants for countries that had no data.


11. Other
Military expenditures data from SIPRI are derived from the NATO definition, which includes all current and capital expenditures on the armed forces, including peacekeeping forces; defense ministries and other government agencies engaged in defense projects; paramilitary forces, if these are judged to be trained and equipped for military operations and military space activities. Such expenditures include military and civil personnel, including retirement pensions of military personnel and social services for personnel operation and maintenance; procurement; military research and development; and military aid (in the military expenditures of the donor country).

Source

[Gallar]

It all depends upon the person involved with the business. Maybe some of the restaurants feel the transaction to be complex due to the lack of proper understanding. I do agree, not everyone are accepting bitcoin into the business. I have never been to El Salvador, and my knowledge about the country is based on the articles I go through and the information shared on YouTube. In the link shared I was able to see a mobile sim store not accepting bitcoin and opposite to the same store another mobile sim card store accepting bitcoin. I've come across a video in which roadside coconut vendor accepting bitcoin. El Salvador Roadside Shop

It's not just a question of who accepts Bitcoin and who doesn't but it depends on the fact that after the first year of adoption (already with poor results) the entire population and practically almost returned to accepting only dollars.

These guys came back exactly one year after their first visit, I remember well their excitement the first time as I also got some live feeds during their stay but after a year they came back and found many changes, hardly anyone used bitcoin some had even forgot the password to access the wallet.  All this because there has not been an incentive to grow, instead in the bitcoin jungle or bitcoin lake it is working because the adoption comes from the bottom in silence.

You are too quick to jump to conclusions, and you always average all conclusions that bitcoin adoption in el Salvador has the potential to fail. I do not blame it, because it is your right and opinion. But if you say that el Salvador has the potential to fail for the adoption of bitcoin, in my opinion it is too hasty a conclusion, because keep in mind, the adoption of bitcoin in El Salvador has just been more than a year, so it is certain that the impact has not been too prominent. and if you pay attention government of El Salvador seems to be very enthusiastic and very excited about this bitcoin adoption process, the proof is that it makes laws for digital assets.

The government of El Salvador recently passed a law governing the issuance of other digital assets, both by the state and privately. The law, which has 47 articles, received the support of 62 votes out of 84 seats in the congress which was held on Wednesday (11/1).

source: https://finance.detik.com/fintech/d-6513674/pengguna-bitcoin-cs-di-el-salvador-diperjuangan-transaksi-makin-mudah

I believe all of this will have a good and positive impact on the continuity of the bitcoin adoption process in El Salvador. Because if the law has been passed and the people don't object to it, it means that it is very likely that many people in El Salvador agree with the decision.

[Mr.corol]

🇸🇻 Bitfinex receives full license to issue Bitcoin Bonds in El Salvador🌋

Source.


El Salvador is allowed to issue Bitcoin bonds. People will get many benefits from these bonds. They can buy a minimum of $100 in bonds. They also made Bitcoin the official currency. They use Bitcoin in business.
One day Bitcoin may achieve El Salvador's desired goal. Seeing their success, other countries will become more interested in Bitcoin. Slowly one day bitcoin will influence the whole world.

[Jatiluhung]

You are too quick to jump to conclusions, and you always average all conclusions that bitcoin adoption in el Salvador has the potential to fail. I do not blame it, because it is your right and opinion. But if you say that el Salvador has the potential to fail for the adoption of bitcoin, in my opinion it is too hasty a conclusion, because keep in mind, the adoption of bitcoin in El Salvador has just been more than a year, so it is certain that the impact has not been too prominent. and if you pay attention government of El Salvador seems to be very enthusiastic and very excited about this bitcoin adoption process, the proof is that it makes laws for digital assets.

The government of El Salvador recently passed a law governing the issuance of other digital assets, both by the state and privately. The law, which has 47 articles, received the support of 62 votes out of 84 seats in the congress which was held on Wednesday (11/1).

source: https://finance.detik.com/fintech/d-6513674/pengguna-bitcoin-cs-di-el-salvador-diperjuangan-transaksi-makin-mudah

I believe all of this will have a good and positive impact on the continuity of the bitcoin adoption process in El Salvador. Because if the law has been passed and the people don't object to it, it means that it is very likely that many people in El Salvador agree with the decision.

Well, everything is still going on there and of course requires a long process before achieving greater success. and we certainly cannot conclude that there is some indication of failure there. it's still a bit early. considering that the people there, from the start of the adoption, still lacked knowledge regarding bitcoin, it's only natural that everything went a little slow there. but with the incessant education carried out by the government there regarding bitcoin. then sooner or later everyone will start to benefit from the policy of legalizing bitcoin in the Elsalvador country as a legal tender.

🇸🇻 Bitfinex receives full license to issue Bitcoin Bonds in El Salvador🌋

Source.


El Salvador is allowed to issue Bitcoin bonds. People will get many benefits from these bonds. They can buy a minimum of $100 in bonds. They also made Bitcoin the official currency. They use Bitcoin in business.
One day Bitcoin may achieve El Salvador's desired goal. Seeing their success, other countries will become more interested in Bitcoin. Slowly one day bitcoin will influence the whole world.

here's another great piece of news. everyone will really start to be interested in joining El Salvador if everyone sees the many advantages that El Salvador will get one day. and actually I'm pretty sure right now many countries are monitoring developments in El Salvador. that's why every news related to El Salvador is always widely reported in the media. different from in the past where not many countries were interested in glancing at this one country. now El salvador is always the center of attention, especially when talking about bitcoin. I like the fire lit by Nayib Bukele which turns out to be able to make the world pay attention to him.

[Patrol69]

Instead as you say, it is true that other wallets could be used such as electrum but unfortunately there is a lack of education especially in a country like El Salvador where the majority is made up of illiterates, and which Bukele knew very well how to maneuver with the initial 20 dollar drop .

El Salvador is a Central American country. whose language is Spanish and their currency is the United States dollar (USD; since 2001) and in 2021 they added another digital currency as their official currency, which is Bitcoin (BTC; since September 2021).

According to the World Bank, their country's education rate is close to 90%. That is, the majority of people in the country are educated. On what basis do you think El Salvador is an uneducated country even though 90% of the people in a country are educated? And majority of people in that country are illiterate. 
Ninety percent people of a country are educated means that country is an educated nation. May be rest 10% people are connected with some other profession so it will never be reasonable to call 10% as majority.

The education rate in their country has increased steadily every year. That is, the prevalence of education in their country has increased and continues to increase.  And in the years to come, the World Bank statistics can be seen to record the increase in their education rate. They are an educated nation and the steps they have taken as an educated nation are undoubtedly commendable. And I think they will reach their goal regardless of the hundred obstacles they have taken.
World bank

[LDL]

Bitcoin is Rallying but EI Salvador's Holdings still down 29%



Bitcoin hit $30,000 yesterday, breaking a nine-month high.  But EI Salvador's bitcoin holdings are still 29% below the price of invested bitcoins, despite a nine-month market high. All this information has been brought from the Bukele Twitter account researched by Bloomberg. In September 2021, Salvador began buying bitcoins by announcing it was legalized and according to the president, bought a total of 2,546 bitcoins with an invested market value of $108 million. But after yesterday's $30,000 rise, the market value of 2,546 bitcoins is $77 million, which is $31(29%) million dollars less than the invested market value.


News cover: https://www.bloomberg.com/news/articles/2023-04-11/bitcoin-is-rallying-but-el-salvador-s-holdings-are-still-down-29

[Popkon6]

Instead as you say, it is true that other wallets could be used such as electrum but unfortunately there is a lack of education especially in a country like El Salvador where the majority is made up of illiterates, and which Bukele knew very well how to maneuver with the initial 20 dollar drop .

Since Nayib-Bukele Bitcoin was legalized in 2021, there has been a form of employment for the youth.  And since Bitcoin has become free of all taxes, Bitcoin has received a huge response among investors and entrepreneurs, a move that is a boon for El Salvador.  Dream city will be built in El Salvador through cryptocurrency.

El Salvador is a Central American country. whose language is Spanish and their currency is the United States dollar (USD; since 2001) and in 2021 they added another digital currency as their official currency, which is Bitcoin (BTC; since September 2021).
According to the World Bank, their country's education rate is close to 90%. That is, the majority of people in the country are educated. On what basis do you think El Salvador is an uneducated country even though 90% of the people in a country are educated? And majority of people in that country are illiterate.  

Collection

Considering the education rate, El Salvador has a 90% education rate but you can definitely see that no matter how educated you are, El Salvador has a high unemployment rate.  Youth unemployment is already on the rise.  In 2018, the youth unemployment rate was 9.82%, but the following year in 2019, the unemployment rate rose several notches to 13.28%.  As much as the nation advances in education, if jobs are not created, unemployment will continue to rise.

[Who is John Galt?]

Considering the education rate, El Salvador has a 90% education rate but you can definitely see that no matter how educated you are, El Salvador has a high unemployment rate.  Youth unemployment is already on the rise.  In 2018, the youth unemployment rate was 9.82%, but the following year in 2019, the unemployment rate rose several notches to 13.28%.  As much as the nation advances in education, if jobs are not created, unemployment will continue to rise.

As far as I understand, this is one of the reasons why the Salvadoran government wants to attract high-tech companies to the country. Bitcoin City in the future should ensure the opening of a significant number of vacancies that will require young educated personnel. Of course, it is impossible to instantly solve all the accumulated problems, but it is possible to lay the foundation for further growth and engage in development.

[NicNacCoin]

You are too quick to jump to conclusions, and you always average all conclusions that bitcoin adoption in el Salvador has the potential to fail. I do not blame it, because it is your right and opinion. But if you say that el Salvador has the potential to fail for the adoption of bitcoin, in my opinion it is too hasty a conclusion, because keep in mind, the adoption of bitcoin in El Salvador has just been more than a year, so it is certain that the impact has not been too prominent. and if you pay attention government of El Salvador seems to be very enthusiastic and very excited about this bitcoin adoption process, the proof is that it makes laws for digital assets.

The government of El Salvador recently passed a law governing the issuance of other digital assets, both by the state and privately. The law, which has 47 articles, received the support of 62 votes out of 84 seats in the congress which was held on Wednesday (11/1).

source: https://finance.detik.com/fintech/d-6513674/pengguna-bitcoin-cs-di-el-salvador-diperjuangan-transaksi-makin-mudah

I believe all of this will have a good and positive impact on the continuity of the bitcoin adoption process in El Salvador. Because if the law has been passed and the people don't object to it, it means that it is very likely that many people in El Salvador agree with the decision.

Well, everything is still going on there and of course requires a long process before achieving greater success. and we certainly cannot conclude that there is some indication of failure there. it's still a bit early. considering that the people there, from the start of the adoption, still lacked knowledge regarding bitcoin, it's only natural that everything went a little slow there. but with the incessant education carried out by the government there regarding bitcoin. then sooner or later everyone will start to benefit from the policy of legalizing bitcoin in the Elsalvador country as a legal tender.

🇸🇻 Bitfinex receives full license to issue Bitcoin Bonds in El Salvador🌋

Source.


El Salvador is allowed to issue Bitcoin bonds. People will get many benefits from these bonds. They can buy a minimum of $100 in bonds. They also made Bitcoin the official currency. They use Bitcoin in business.
One day Bitcoin may achieve El Salvador's desired goal. Seeing their success, other countries will become more interested in Bitcoin. Slowly one day bitcoin will influence the whole world.

here's another great piece of news. everyone will really start to be interested in joining El Salvador if everyone sees the many advantages that El Salvador will get one day. and actually I'm pretty sure right now many countries are monitoring developments in El Salvador. that's why every news related to El Salvador is always widely reported in the media. different from in the past where not many countries were interested in glancing at this one country. now El salvador is always the center of attention, especially when talking about bitcoin. I like the fire lit by Nayib Bukele which turns out to be able to make the world pay attention to him.

The government of El Salvador is implementing every functionality with Nayib Bukele Bitcoin. He is leading his country in technology in a way that has surprised the whole world. At one time no one knew El Salvador very well. But Nayib Bukele has become known as EL Salvador to the world because he technically legalized Bitcoin in his country. Many popular media and various social media are writing about EL Salvadar. Indeed, my love for this El Salvador government increased. If he can rule his country for a long time, surely he can take his country to the peak of development.

[Bobrox]

Bitcoin is Rallying but EI Salvador's Holdings still down 29%



Bitcoin hit $30,000 yesterday, breaking a nine-month high.  But EI Salvador's bitcoin holdings are still 29% below the price of invested bitcoins, despite a nine-month market high. All this information has been brought from the Bukele Twitter account researched by Bloomberg. In September 2021, Salvador began buying bitcoins by announcing it was legalized and according to the president, bought a total of 2,546 bitcoins with an invested market value of $108 million. But after yesterday's $30,000 rise, the market value of 2,546 bitcoins is $77 million, which is $31(29%) million dollars less than the invested market value.


News cover: https://www.bloomberg.com/news/articles/2023-04-11/bitcoin-is-rallying-but-el-salvador-s-holdings-are-still-down-29

Its happening because El Savador ever purchased when Bitcoin around $52,000 but have positive side because they invested when Bitcoin drop under $20,000. I sure with El Savador investment right now on the profit situation due they have invested Bitcoin with several price and keep investing when Bitcoin around $15K until $20k.

Waiting with new announcement from El Savador government about current their Bitcoin investment condition, are profitable or still holding with drop several percent, but have chance for Bitcoin will back to higher price and El Savador most loyal for long term holding in Bitcoin.

[mendace]

The education rate in their country has increased steadily every year. That is, the prevalence of education in their country has increased and continues to increase.  And in the years to come, the World Bank statistics can be seen to record the increase in their education rate. They are an educated nation and the steps they have taken as an educated nation are undoubtedly commendable. And I think they will reach their goal regardless of the hundred obstacles they have taken.
World bank

I point out that that graph shows the date 1992 and that 30 years have passed since then, which is equivalent to saying that only the new generations are literate, but a population is also made up of people aged 50/70/70/80 and they are quite sure that in those years in those latitudes education was not necessary.  Therefore it is a false fact and to claim that El Salvador is a country with an education means not seeing reality or not wanting to see it, or you live in places where education is similar to El Salvador so I advise you to read up on what an education is. real education at European level.

[Mr.corol]

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Source

El Salvador is the smallest country in the Americas. They are very interested in Bitcoin. A really admirable country, they have always started using Bitcoin everywhere.

[NicNacCoin]

The most important is breaking news. Bitcoin bonds issuer Bitfinex granted full license. Everyone was waiting for this bonds sanction and finally it was implemented. In this implementation this El Salvador has won and will always be on the side of Bitcoin.


source