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

[Gallar]

There are other coins in crypto currency other than other coins Why did El Salvador choose Bitcoin in their country?

Because Bukele understood that there is a difference between bitcoins and shitcoins, so why get distracted with scams if you actually understand what bitcoin is?  Including shitcoins into any El Salvador plan would have had been dumb and a distraction (and also would have shown that Bukele did not sufficiently understand what bitcoin is)... and so it should be considered a good thing that they/Bukele are/is neither dumb nor distracted into shitcoins.

From the start, Bukele had a high commitment to Bitcoin adoption, and this is proven to this day. Because its commitment does not waver in the slightest with other alternative coins. So if Nayib Bukele has the initiative to try or expand his plans to add altcoins to his long-term portfolio, in my opinion Bukele can be said to be lacking in keeping his commitment. However, I am sure that Bukele is not that kind of person, because his belief in making bitcoin legal in his country and deciding to create a long-term portfolio for bitcoin, has become an absolute thing that cannot be shaken. Because that was the goal from the start.

Even though his term of office will end in 2024, from what I know, he will run again for president and will most likely win. And what is certain is that his long-term project regarding bitcoin will definitely continue.

SAN SALVADOR, September 15 (Reuters) - El Salvador President Nayib Bukele said Thursday he would run for re-election, even though the country's constitution bars presidents from serving consecutive terms.

Source: https://www.reuters.com/world/americas/despite-prohibition-el-salvador-president-bukele-says-he-will-seek-re-election-2022-09-16/

Even though there are a few restrictions, Bukele still wants to nominate himself again. This means that from this we can conclude that Bukele's seriousness towards the project he is currently running is very large (bitcoin adoption).

And in conclusion, Bukele is unlikely to risk adding another coin to his portfolio. Because this portfolio does not belong to Bukele personally, but rather belongs to one country. So it's impossible for Bukele to dare take such a big risk.

[FinePoine0]

El Salvador announces reforms to boost oil, gas exploration

El Salvador's state energy authorities announced on Monday that legal reforms to boost oil and gas exploration have been presented to lawmakers for approval.

The measures aim to lure investment and modernize the sector's legal framework in the country, the Central American country's energy authorities said in a statement.

Under the new framework, contracts would allow data firms to look into existing projects and then sell the information they gather to oil companies.

The government is seeking to enter into partnerships with experienced companies to map out the resources in the country and reduce costs, the statement added.

In 2008, El Salvador enacted a law that opened the doors for oil and gas exploration but there have been few recent projects.

El Salvador imports most of its fossil fuels, which power over half of the country's energy needs.

Source link: https://www.reuters.com/business/energy/el-salvador-announces-reforms-boost-oil-gas-exploration-2023-12-18/

[YUriy1991]

The President of El Salvador, Nayeb Bukele, is a wise man, so he knows and believes in Bitcoin.

Try to go back for a moment to his statement some time ago, the President of El Salvador, to be precise. On Monday, December 4 2023, the President of El Salvador, Nayib Bukele, was happy to share information on mainstream media platforms regarding El Salvador's BTC financial report which has successfully transitioned regarding BTC investment- and El Salvador US$3 million after the Bitcoin price touched US$42,000 and the net step is The issuance of "Volcano Bonds" in El Salvador which is scheduled to be launched in the first quarter of 2024 is also highly anticipated as an effort to strengthen their economic and financial base.

[JayJuanGee]

El Salvador announces reforms to boost oil, gas exploration
El Salvador's state energy authorities announced on Monday that legal reforms to boost oil and gas exploration have been presented to lawmakers for approval.

The measures aim to lure investment and modernize the sector's legal framework in the country, the Central American country's energy authorities said in a statement.

Under the new framework, contracts would allow data firms to look into existing projects and then sell the information they gather to oil companies.

The government is seeking to enter into partnerships with experienced companies to map out the resources in the country and reduce costs, the statement added.

In 2008, El Salvador enacted a law that opened the doors for oil and gas exploration but there have been few recent projects.

El Salvador imports most of its fossil fuels, which power over half of the country's energy needs.

Source link: https://www.reuters.com/business/energy/el-salvador-announces-reforms-boost-oil-gas-exploration-2023-12-18/

The text of the above post should be in quotes... or somehow otherwise indicating that they are not your words.

In other words, none of those words are your own FinePoine0.  They are copied and pasted directly from the article that you cited, so none of us should have to click on the link that you provided in order to verify whether those are your words or if they are actually coming from the article.

[Aanuoluwatofunmi]

El Salvador announces reforms to boost oil, gas exploration
El Salvador's state energy authorities announced on Monday that legal reforms to boost oil and gas exploration have been presented to lawmakers for approval.

The measures aim to lure investment and modernize the sector's legal framework in the country, the Central American country's energy authorities said in a statement.

Under the new framework, contracts would allow data firms to look into existing projects and then sell the information they gather to oil companies.

The government is seeking to enter into partnerships with experienced companies to map out the resources in the country and reduce costs, the statement added.

In 2008, El Salvador enacted a law that opened the doors for oil and gas exploration but there have been few recent projects.

El Salvador imports most of its fossil fuels, which power over half of the country's energy needs.

Source link: https://www.reuters.com/business/energy/el-salvador-announces-reforms-boost-oil-gas-exploration-2023-12-18/

The text of the above post should be in quotes... or somehow otherwise indicating that they are not your words.

In other words, none of those words are your own FinePoine0.  They are copied and pasted directly from the article that you cited, so none of us should have to click on the link that you provided in order to verify whether those are your words or if they are actually coming from the article.

Well said Jay, let me add to what you've given already.

Making a post that will not be yours directly being an author to it should not be allowed, which equally means, whenever you're making a post, try as much as possible to differentiate your own aspect from the copied one through the insertion of quote, you cannot just make a write up now, which is another man's work you copied and try to place the link under just to shield you from getting banned for plagiarism, atleast, try and read the whole article, digest and then throw out your own personal opinion on it, and if you think you don't have an idea, it's as better as you don't even make a comment under it.

[newblicious-1]

How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.

[aylabadia05]

How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.

Around January, the news about the Panama story was still wrapped up in regulations.

According to an official statement, the president’s office considers articles 34 and 36 of the bill unenforceable because they violate the state’s separation of powers and establish administrative structures within the government.

El Salvador continues to walk with President Nayib Bukele's strong principles regarding Bitcoin legal tender.
I can't compare in detail how El Salvador's adoption compares with Panama or Costa Rica because I'm not from those three countries. However, according to updated information that I continue to find out, El Salvador is better.

[JayJuanGee]

El Salvador announces reforms to boost oil, gas exploration
El Salvador's state energy authorities announced on Monday that legal reforms to boost oil and gas exploration have been presented to lawmakers for approval.

The measures aim to lure investment and modernize the sector's legal framework in the country, the Central American country's energy authorities said in a statement.

Under the new framework, contracts would allow data firms to look into existing projects and then sell the information they gather to oil companies.

The government is seeking to enter into partnerships with experienced companies to map out the resources in the country and reduce costs, the statement added.

In 2008, El Salvador enacted a law that opened the doors for oil and gas exploration but there have been few recent projects.

El Salvador imports most of its fossil fuels, which power over half of the country's energy needs.

Source link: https://www.reuters.com/business/energy/el-salvador-announces-reforms-boost-oil-gas-exploration-2023-12-18/

The text of the above post should be in quotes... or somehow otherwise indicating that they are not your words.

In other words, none of those words are your own FinePoine0.  They are copied and pasted directly from the article that you cited, so none of us should have to click on the link that you provided in order to verify whether those are your words or if they are actually coming from the article.

Well said Jay, let me add to what you've given already.

Making a post that will not be yours directly being an author to it should not be allowed, which equally means, whenever you're making a post, try as much as possible to differentiate your own aspect from the copied one through the insertion of quote, you cannot just make a write up now, which is another man's work you copied and try to place the link under just to shield you from getting banned for plagiarism, atleast, try and read the whole article, digest and then throw out your own personal opinion on it, and if you think you don't have an idea, it's as better as you don't even make a comment under it.

I agree that it is better to post something and at least make some kind of a comment about it, but yeah it is really misleading to post something without quotes or any kind of way to identify if the words that are used are from the article or if they are from the member posting.. and even though the forum treats failure to attribute lighter than plagiarism, it is a bit of a fine line, and it sometimes seems that some members are just too much abusing the way that they attribute, and so yeah, it is a bit of plagiarism that is not being punished (especially if the member has a pattern of citing articles in that kind of way of not properly quoting.

It also seems to be that if you don't have an opinion about an article, you could still say something like:  "I looked at this article and it seems to be saying x, y and z, and I am not really sure what it means, but I thought a, b and c might be relevant..." or any kind of a superficial comment would at least show that the person had at least browsed over the article and maybe did not understand everything but maybe took some points from it... or was confused about some points from the article (or the tweet, or whatever it is that is being quoted)..

[Popkon6]

Volcano Energy



The Sustainable Bitcoin Revolution

Volcano Energy is a renewable energy and Bitcoin mining company propelling El Salvador toward energy independence and financial sovereignty.

We aim to position El Salvador as a prominent global player in the Bitcoin mining industry while promoting energy abundance, and the global distribution of Bitcoin’s hash power.

MISSION:
Our mission at Volcano Energy is to lead the sustainable Bitcoin revolution in El Salvador, promoting energy independence and financial sovereignty. We seek to position the country as a leading player in the Bitcoin mining industry, driving sustainable energy and global Bitcoin distribution.

VISION:
Our vision is to create a prosperous future in El Salvador based on sustainable energy abundance and leadership in the Bitcoin industry. We want Volcanoes to drive our economic growth, Bitcoin security, and financial education for all Salvadorans.

Source link: https://volcano.energy/en/about-us/


We see a prominent aspect of the Bitcoin mining industry in El Salvador because they are the only ones working hard enough to produce this volcanic energy. This renewable energy production is moving El Salvador forward as energy independent and the country's economy as well.

[Gallar]

How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.

Panama and Costa Rica seem to be very friendly towards bitcoin. Because I found old news about a congressman in Panama who was going to make a regulation regarding bitcoin and cryptocurrencies in his country.

Panamanian congressman Gabriel Silva plans to submit a bill that could potentially spearhead the adoption of cryptocurrencies as legal tender and create tax incentives for crypto-related businesses.

Source: https://www.cnbcindonesia.com/market/20210617115729-17-253850/giliran-panama-bakal-akui-bitcoin-sebagai-mata-uang-yang-sah

But after I looked for the latest news, I couldn't find what the sequel was like. This means that it can be concluded that up to now these regulations have not yet been made or have not yet been definitively ratified by the government.

And regarding Costa Rica. The law regarding bitcoin seems to have been written.

In October 2022, congresswoman Johana Obando introduced a bill seeking to approve bitcoin and cryptocurrencies as regulated payment methods in the country, as a means to modernize the economy.

Source: https://www.liputan6.com/crypto/read/5151406/kosta-rika-kenalkan-ruu-untuk-setujui-kripto-jadi-metode-pembayaran-sah?page=2

But what I understand from the news, it seems that the law was not made absolutely for the adoption of Bitcoin like in El Salvador. But it is more about securing and protecting property rights for people who own bitcoin or crypto (legalization).

So the conclusion is that these two countries are very friendly towards bitcoin. But for the issue of full adoption like in El Salvador, it still doesn't seem to happen. Because it certainly won't be that easy to imitate the bitcoin adoption that occurred in El Salvador.

[Fiatless]

El Salvador continues to walk with President Nayib Bukele's strong principles regarding Bitcoin legal tender.
I can't compare in detail how El Salvador's adoption compares with Panama or Costa Rica because I'm not from those three countries. However, according to updated information that I continue to find out, El Salvador is better.

The difference between Panama / Costa Rica and El Salvador is that presidents of these nations have different mindsets. While we have seen documents proposing to make Bitcoin a legal tender in Panama and Costa Rica presented by parliamentarians there is no willpower from the executive to lobby for the passing of these bills. Nayid Bukele had to lobby the legislative arm and convince them to sign the bill after comprehensively explaining the benefits to the lawmakers.

But in the case of Panama and Costa Rica Laurentino Cortizo and Rodrigo Chaves Robles are not passionate about Bitcoin like their El Salvador counterparts. Maybe these presidents are under external pressure from anti-bitcoin forces or they are too blind to the the future of Bitcoin.

[aylabadia05]

The difference between Panama / Costa Rica and El Salvador is that presidents of these nations have different mindsets. While we have seen documents proposing to make Bitcoin a legal tender in Panama and Costa Rica presented by parliamentarians there is no willpower from the executive to lobby for the passing of these bills. Nayid Bukele had to lobby the legislative arm and convince them to sign the bill after comprehensively explaining the benefits to the lawmakers.

But in the case of Panama and Costa Rica Laurentino Cortizo and Rodrigo Chaves Robles are not passionate about Bitcoin like their El Salvador counterparts. Maybe these presidents are under external pressure from anti-bitcoin forces or they are too blind to the the future of Bitcoin.

It must be admitted that Nayib Bukele's work continues to move and does not stop trying before all the laws are passed.
If we trace it, Nayib Bukele also experienced pressure in facing this process because it was impossible for the process that Nayib Bukele went through to legalize the Bitcoin tender to be as easy as imagined. But Bukele's principles regarding the future of their investments have proven to be able to generate profits now.

The two Presidents of the two countries may be trying hard to convince various related parties to smooth out the steps being taken.
So I am not wrong in saying that El Salvador is better regarding Bitcoin adoption than Panama and Costa Rica.

[YUriy1991]

How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.

Anyone is free to buy BTC and continue your discussion for the country of Panama. I think it is quite strategic if seen geographically and I think it will soon be the next country to follow in the footsteps of El-Salvador to legalize Bitcoin as a means of payment.

On the other hand, this country is also identical and has a reputation as a country whose taxes do not bother people, especially if more brokers appear and are seriously considering the implementation of this investment for immediate adoption because of the popularity of this virtual money.

[Aanuoluwatofunmi]

How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.

If we are considering the general economy performance on them each, then individual of them have how they manage the economy affairs of their country for their own good, but when it comes to digital currency adoption or bitcoin, El-Savador is not only leading these countries, but the entire world, there was a move sometimes last year or so about Panama to adopt bitcoin but they couldn't make it to the last stage before the whole thing die down together with their ambition for it.

[Freddie Boyer]

I just think like this, if one day every country adopts BTC it is possible that Nayib Bukele will be the first head of state to be included in the list of recipients of the first Nobel Prize in Economics, especially Virtual Currency with his work in Bitcoin Legal Tender on a large scale and the breakthroughs that have come out from the current alternative financial system, precisely 10-14-2024.

[arwin100]

How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.

If we are considering the general economy performance on them each, then individual of them have how they manage the economy affairs of their country for their own good, but when it comes to digital currency adoption or bitcoin, El-Savador is not only leading these countries, but the entire world, there was a move sometimes last year or so about Panama to adopt bitcoin but they couldn't make it to the last stage before the whole thing die down together with their ambition for it.

Maybe they slow down their plans towards adopting bitcoin since they see how volatile bitcoin is that's why maybe they see some risk if they push their adoption while their knowledge is limited about it. But for sure their they continue their study regarding on its another discussion of possible adoption. If they just have the same guts what El Salvador government did for sure they can learn a lot from them and now successful to circulate this currency on their country but we can understand that not all leaders is open for development and there are still people is in doubt regarding on its usage that's why for now let just see if there's new update if Panama successfully make bitcoin as their legal tender or totally back out on the scene. Many people want this to happen since just like what El Salvador did this can create a huge noise and possible it can attract other country to think about doing the same acceptance.

[wmaurik]

I just think like this, if one day every country adopts BTC it is possible that Nayib Bukele will be the first head of state to be included in the list of recipients of the first Nobel Prize in Economics, especially Virtual Currency with his work in Bitcoin Legal Tender on a large scale and the breakthroughs that have come out from the current alternative financial system, precisely 10-14-2024.

There is no need to wait long to see recognition from many countries or from many people about this, because now there are already many people and many countries praising Nayib Bukele's actions that he implemented in El Salvador, especially in legalizing Bitcoin. And even if there is an event to make this recognition, Nayib Bukele will still be in first place as a person who is very brave in making the act of adopting Bitcoin in the country he himself leads and he is also not overwhelmed in organizing the economy of El Salvador to become better through several important sectors there.

[moneystery]

How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.

el salvador has become a country that is not only friendly with bitcoin, but has made it legal tender, where no country in the world (aside from CAR) has made such a bold decision. not only the executive, but the legislature in el salvador agreed to the designation of bitcoin as legal tender in the country and that makes el salvador a country that cannot be compared with panama or costa rica in terms of bitcoin adoption.

[JayJuanGee]

How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.

el salvador has become a country that is not only friendly with bitcoin, but has made it legal tender, where no country in the world (aside from CAR) has made such a bold decision. not only the executive, but the legislature in el salvador agreed to the designation of bitcoin as legal tender in the country and that makes el salvador a country that cannot be compared with panama or costa rica in terms of bitcoin adoption.

It is probably better to consider the various countries in terms of a spectrum in terms of how bitcoin friendly they are, and there are no real absolutes, even if El Salvador seems to be (and probably is) the most friendly to bitcoin. It is not black and white, since there are so many things that countries can do that are either friendly or hostile to bitcoin, and sometimes how they relate and/or treat other crypto (shitcoins) may be one of the factors that would help to show whether or not they actually sufficiently understand how bitcoin is different from various other shitcoins.  At the same time, it would be difficult to get exact agreement on some of the factors, but still if many factors are accounted for in order to create scores for countries, then maybe they would end up getting a ranking in terms of how bitcoin-friendly they are.  Whether in this thread or in other threads, I have seen some maps that show either bitcoin or "crypto" friendly countries..

[Popkon6]

How does El Salvador compare to Panama or Costa Rica when it comes to local market adoption? Panama seems really bitcoin-friendly.

el salvador has become a country that is not only friendly with bitcoin, but has made it legal tender, where no country in the world (aside from CAR) has made such a bold decision. not only the executive, but the legislature in el salvador agreed to the designation of bitcoin as legal tender in the country and that makes el salvador a country that cannot be compared with panama or costa rica in terms of bitcoin adoption.

El Salvador legalized legal tender Bitcoin in 2021. In the two-plus years that El Salvador's President Nayib Bukele has led his country to great heights. And not only that, he has launched various projects with the help of Bitcoin, such as generating power from Volcano Energy and providing support to the people of his country. Not only that, all the countries of the world have understood that if Bitcoin is adopted, it is the only strategy to be known to the whole world. Bitcoin is one of the strategies to get the country out of economic crisis as an asset.