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

[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.

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.

I don't think they have to take a decision on slowing down on bitcoin adoo because if it volatility, there were times that the bitcoin market wasn't favourable to buy and yet El-Savador made decision to buy and hold, am sure by now they are not regretting from what they have done in the past, Panama indecision about bitcoin adoption has to do with the state of the countries economy affairs orchestrated by the political settings that sorrounds the leadership in that country.

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..

As it has been discussed, we are not after the title of having bitcoin as a legal tender digital currency in any country to make the breaking news for more adoption, we are after driving a tangible and positive results through the bitcoin adoption which is what El-Savador did and Central African Republic couldn't realized or acheived, now in the case of Panama or Costa Rica, it's better they are taking their time now to make the best out of their indecision when they are fully ready to makena move for bitcoin adoption.

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[AirtelBuzz]

El Salvador passes law offering citizenship to Bitcoin investors


Picture from X
I think El Salvador's decision to make this breakthrough is not just about investment, it's about ushering in a new economic era.
El Salvador is leading the way, boldly integrating Bitcoin into its core principles.
Link>>>https://cointelegraph.com/news/el-salvador-passes-law-offering-citizenship-bitcoin-investors

[Dump3er]

El Salvador passes law offering citizenship to Bitcoin investors


Picture from X
I think El Salvador's decision to make this breakthrough is not just about investment, it's about ushering in a new economic era.
El Salvador is leading the way, boldly integrating Bitcoin into its core principles.
Link>>>https://cointelegraph.com/news/el-salvador-passes-law-offering-citizenship-bitcoin-investors

The country is really catching my interest as I find it exciting how many things they are trying out. Too bad that El Salvador isn't doing that well on the "Fragile State Index" as this is still something to consider for wealthy individuals who would actually be able and willing to invest $1 million in BTC to participate in the Freedom Visa program there. A citizenship isn't worth much if the political situation is unstable. I am not aware of all the advantages they are offering to BTC donators and investors, but someone who is able to donate a million is probably not willing to risk too much in a country that is prone to unexpected changes in the political landscape. But maybe the index doesn't perfectly reflect what's going on there. I am not too well informed about the politics there, but indices can give a first impression.

But my opinion is as mentioned above, it is good to have a country that is making first moves. Would be great if they published reports about their various programs and laws and how people too advantage of them.

[FinePoine0]

El Salvador passes law offering citizenship to Bitcoin investors


Picture from X
I think El Salvador's decision to make this breakthrough is not just about investment, it's about ushering in a new economic era.
El Salvador is leading the way, boldly integrating Bitcoin into its core principles.
Link>>>https://cointelegraph.com/news/el-salvador-passes-law-offering-citizenship-bitcoin-investors

El Salvador's move to grant citizenship to bitcoin investors has been a bold step to take. Bravely, the government of El Salvador, Nayib Bukele, accepted Bitcoin as legal tender and took all steps to allow people to use it. El Salvador demonstrates the country's commitment to adopting cryptocurrencies and blockchain and guiding the country's people in the right direction. This move is very valuable to the nation to attract Bitcoin investors. Few governments have taken such steps, El Salvador being the first because it is a practical strategy to attract investors to the nation.

[Sebas.tian]

El Salvador passes law offering citizenship to Bitcoin investors


Picture from X
I think El Salvador's decision to make this breakthrough is not just about investment, it's about ushering in a new economic era.
El Salvador is leading the way, boldly integrating Bitcoin into its core principles.
Link>>>https://cointelegraph.com/news/el-salvador-passes-law-offering-citizenship-bitcoin-investors

This new strategies in the country, will definitely motivate the Bitcoin investors in the country to improve in profits making which is the source of every investors to grow higher in any level. El Salvador president has done it again to prove to his citizens that he developed so much love for them and to give them a better economy which other president will find difficult to create for their citizens to enjoy like what El Salvador citizens are celebrating in their investment. Once this law is legalize in the land of El Salvador, I believe there will be increase in their economy which is the purpose their government is trying to showcase the law to improve Bitcoin investors in the country.

[Popkon6]

El Salvador passes law offering citizenship to Bitcoin investors


Picture from X
I think El Salvador's decision to make this breakthrough is not just about investment, it's about ushering in a new economic era.
El Salvador is leading the way, boldly integrating Bitcoin into its core principles.
Link>>>https://cointelegraph.com/news/el-salvador-passes-law-offering-citizenship-bitcoin-investors

This new strategies in the country, will definitely motivate the Bitcoin investors in the country to improve in profits making which is the source of every investors to grow higher in any level. El Salvador president has done it again to prove to his citizens that he developed so much love for them and to give them a better economy which other president will find difficult to create for their citizens to enjoy like what El Salvador citizens are celebrating in their investment. Once this law is legalize in the land of El Salvador, I believe there will be increase in their economy which is the purpose their government is trying to showcase the law to improve Bitcoin investors in the country.

Yes that's right El Salvador is really very cautious about Bitcoin. Since its adoption Bitcoin has provided all kinds of benefits to the people because yet the people of El Salvador are attracted to Bitcoin. And currently the government of El Salvador has announced Naib Bukele to offer citizenship to attract more investors to Bitcoin. The main reason investors are attracted to El Salvador is that Salvador's Bitcoin transaction fees are completely free, so investors will be attracted to the country and feel more comfortable doing transactions because it has accepted Bitcoin as a currency. The only country in the world
that I could hear such good news from is El Salvador.

[NewRanger]

El Salvador passes law offering citizenship to Bitcoin investors


Picture from X
I think El Salvador's decision to make this breakthrough is not just about investment, it's about ushering in a new economic era.
El Salvador is leading the way, boldly integrating Bitcoin into its core principles.

We know that El Salvador is the smallest country in Central America. Regarding President Nayib Bukele's steps in adopting Bitcoin in El Salvador at this time, it deserves a thumbs up because currently it may be on a larger scale than in Canada.



From several of his tweets on Twitter that I read, it can be concluded that he initiated this not without reason, all of which were directed at encouraging financial inclusion in terms of tourism, innovation, economic development after the corona virus pandemic which was not only felt by the country of El Salvador but almost everyone everywhere. At that time, the economy was hit hard on almost all fronts.

[moneystery]

..

A citizenship isn't worth much if the political situation is unstable. I am not aware of all the advantages they are offering to BTC donators and investors, but someone who is able to donate a million is probably not willing to risk too much in a country that is prone to unexpected changes in the political landscape. But maybe the index doesn't perfectly reflect what's going on there. I am not too well informed about the politics there, but indices can give a first impression.

..

if only el salvador had a more stable political condition, a more qualified security, and the economy was far more stable than now, i am sure that el salvador can be a "panama" which is a paradise for bitcoin investors. but the problem is that now politics in el salvador is not very good, power can change at any time, and the legislature has become several factions. even though nayib pukele has good support from the people, there are some strengths in el salvador which make the government position change at any time.

things like this that make many bitcoin investors are still reluctant to make el salvador as their destination country. because the main thing needed by investors is stable politics and security, followed by enhancing the economy. if this alone cannot be achieved by el salvador, it will be quite difficult for them to attract bitcoin investors.

[NewRanger]

things like this that make many bitcoin investors are still reluctant to make el salvador as their destination country. because the main thing needed by investors is stable politics and security, followed by enhancing the economy. if this alone cannot be achieved by el salvador, it will be quite difficult for them to attract bitcoin investors.

It is absolutely true and one of the important points that is deemed necessary to be hastened and also the ideological and economic factors that encourage several investors to enter there, is that El Salvador must improve political stability, security, economic growth and this must be immediately considered by anyone who will succeed in the future. who will rule El Salvador if one day the government under the leadership of Nayib Beatele ends. Without this, Bitcoin's appeal to investors may remain low. Apart from that, I think Nayib Beatele also has direction regarding this matter so that what he does remains connected and sustainable.

[Fiatless]

The country is really catching my interest as I find it exciting how many things they are trying out. Too bad that El Salvador isn't doing that well on the "Fragile State Index" as this is still something to consider for wealthy individuals who would actually be able and willing to invest $1 million in BTC to participate in the Freedom Visa program there. A citizenship isn't worth much if the political situation is unstable. I am not aware of all the advantages they are offering to BTC donators and investors, but someone who is able to donate a million is probably not willing to risk too much in a country that is prone to unexpected changes in the political landscape. But maybe the index doesn't perfectly reflect what's going on there. I am not too well informed about the politics there, but indices can give a first impression.

The Bitcoin Freedom Visa is different from the citizenship by Bitcoin donation law. Unlike the Freedom Visa which is a $1m Investment, there is no donation benchmark for citizenship by donation. Maybe this law will be well explained in a few days and the process of donation and citizenship will be explained better. Many of these donors might want to benefit from the opportunity the passport offers. Holders of El Salvador passport enter freely into about 102 countries which includes many developed nations. So rich individuals will just get their passports and move to other nations.

But my opinion is as mentioned above, it is good to have a country that is making first moves. Would be great if they published reports about their various programs and laws and how people took advantage of them.

El Salvador is a pathfinder to other nations when it comes to investing heavily in Bitcoin. The nation is gradually coming up with more details guidelines on how to invest in the country through Bitcoin. I am just hoping that Bukele will win the next election so that he can consolidate his achievements.

[YUriy1991]

El Salvador is a pathfinder to other nations when it comes to investing heavily in Bitcoin. The nation is gradually coming up with more details guidelines on how to invest in the country through Bitcoin. I am just hoping that Bukele will win the next election so that he can consolidate his achievements.

As you said above, it seems very relevant, especially if we look at one of the posts on Twitter social media, it is very clear to see why this country is really serious about carrying out what they previously said in order to survive, as one of the comments from @Bitcoinbeach said in this tweet: Never and doubt!



I personally agree and hope he can lead again. To win or not has not yet started because the general election will be held next year if I am not mistaken, the implementation schedule is February 4 2024 where the people of Elsavador will hold a democratic party to elect the president and vice president along with all the representatives of the Legislative Council for the 2024-2029 term. but, there is something interesting here, before the elections started, El Salvador President Nayib Bukele's electability rose based on several surveys conducted in the 2024 opinion polls.

[FinePoine0]

Salvador is going to be a crime free country



El Salvador went, under @nayibbukele , from being the most dangerous country on the planet to being one of the safest.

Instead of being overrun with thugs, murderers, gangsters, and other predators making life impossible for normal people, it's now a thriving place better run than any blue state in America

All it took was Bukele ignoring the "liberal democracy" crowd and locking up MS-13 terroristic thugs instead of letting them roam free

The crime crisis isn't something that has to occur. It's something our elites have chosen to let happen. They want criminals harassing you. They want gangsters making your life miserable. They want you to live in fear, and to be unable to use force against those preying on you. If they didn't want it to happen, they'd do what Bukele has done and toss gangsters in jail and throw away the key
Source link

[JackETH]

I just want to ask questions related to the financial institution system in El Salvador in providing understanding related to Bitcoin. Have they already made a complete exposure to bitcoin so that there is no more wrong mindset in understanding bitcoin in regulation even though there are already laws that have been made.

[wmaurik]

I just want to ask questions related to the financial institution system in El Salvador in providing understanding related to Bitcoin. Have they already made a complete exposure to bitcoin so that there is no more wrong mindset in understanding bitcoin in regulation even though there are already laws that have been made.

There is no doubt about this, mate, because the president of El Salvador himself has implemented a comprehensive understanding of Bitcoin for all his citizens and has even implemented this in every school in El Salvador. You can read the news on cointelegraph.com and also on Bitcoin Magazine's twitter account about "El Salvador to introduce Bitcoin education in schools in 2024". The non-profit organization and NGO Mi Primer Bitcoin is partnering with El Salvador's Ministry of Education to incorporate Bitcoin into its curriculum.

This was reported a long time ago at the beginning of September last year and it will be implemented this year so you don't need to doubt the financial system that has been built quite well by the El Salvador government. And also how to introduce Bitcoin to all its citizens as a whole through important sectors including through education which can be directly experienced by young people in El Salvador so that almost all El Salvadorans are no longer unfamiliar with things related to Bitcoin.

[Aanuoluwatofunmi]

I just want to ask questions related to the financial institution system in El Salvador in providing understanding related to Bitcoin. Have they already made a complete exposure to bitcoin so that there is no more wrong mindset in understanding bitcoin in regulation even though there are already laws that have been made.

You can't expect things to continue the same way it has started, there was a time when the Bitcoin adoption in el-salvador wasn't a mainstream as it has turned to be now, yet people developed interest in learning about Bitcoin despite the wrong circulars being carried by the news that the great people of el-salvador wasn't interested in Bitcoin adoption, but the moment the government realized that what is being said is far fetched to what is happening in reality, he continue with the good works by teaching the pupils on Bitcoin education in schools for free.

As at today, you will hardly see someone who is truly a genuine el-salvadoran to go against Bitcoin because they know well what Bitcoin has brought down to their country and how it has affect the development of the country's economy since after Bitcoin adoption.

[Popkon6]

I just want to ask questions related to the financial institution system in El Salvador in providing understanding related to Bitcoin. Have they already made a complete exposure to bitcoin so that there is no more wrong mindset in understanding bitcoin in regulation even though there are already laws that have been made.

There is no doubt about this, mate, because the president of El Salvador himself has implemented a comprehensive understanding of Bitcoin for all his citizens and has even implemented this in every school in El Salvador. You can read the news on cointelegraph.com and also on Bitcoin Magazine's twitter account about "El Salvador to introduce Bitcoin education in schools in 2024". The non-profit organization and NGO Mi Primer Bitcoin is partnering with El Salvador's Ministry of Education to incorporate Bitcoin into its curriculum.

This was reported a long time ago at the beginning of September last year and it will be implemented this year so you don't need to doubt the financial system that has been built quite well by the El Salvador government. And also how to introduce Bitcoin to all its citizens as a whole through important sectors including through education which can be directly experienced by young people in El Salvador so that almost all El Salvadorans are no longer unfamiliar with things related to Bitcoin.

The President of El Salvador, Nayib Bukele, is doing his best to educate the people of his country about Bitcoin. My favorite thing is to teach children about Bitcoin from an early stage. The government of El Salvador country is opening the eyes of knowledge to children from the beginning, because teaching about Bitcoin will make the next generation to have a great knowledge about Bitcoin in the future and will try hard enough to invest. I must thank Nayib Bukhele for preparing this tutorial. This educational system of his will surely bring success and everyone has shown interest to acquire this bitcoin education.

[2Pizza410000BTC]

I just want to ask questions related to the financial institution system in El Salvador in providing understanding related to Bitcoin. Have they already made a complete exposure to bitcoin so that there is no more wrong mindset in understanding bitcoin in regulation even though there are already laws that have been made.

There is no doubt about this, mate, because the president of El Salvador himself has implemented a comprehensive understanding of Bitcoin for all his citizens and has even implemented this in every school in El Salvador. You can read the news on cointelegraph.com and also on Bitcoin Magazine's twitter account about "El Salvador to introduce Bitcoin education in schools in 2024". The non-profit organization and NGO Mi Primer Bitcoin is partnering with El Salvador's Ministry of Education to incorporate Bitcoin into its curriculum.

This was reported a long time ago at the beginning of September last year and it will be implemented this year so you don't need to doubt the financial system that has been built quite well by the El Salvador government. And also how to introduce Bitcoin to all its citizens as a whole through important sectors including through education which can be directly experienced by young people in El Salvador so that almost all El Salvadorans are no longer unfamiliar with things related to Bitcoin.

The President of El Salvador, Nayib Bukele, is doing his best to educate the people of his country about Bitcoin. My favorite thing is to teach children about Bitcoin from an early stage. The government of El Salvador country is opening the eyes of knowledge to children from the beginning, because teaching about Bitcoin will make the next generation to have a great knowledge about Bitcoin in the future and will try hard enough to invest. I must thank Nayib Bukhele for preparing this tutorial. This educational system of his will surely bring success and everyone has shown interest to acquire this bitcoin education.

In this case I disagree with Nayib Bukele approach because it is better not to educate children on Bitcoin education at a young age. If children are educated in bitcoin education at this age then they will become addicted to earning money from bitcoins as soon as they become addicted to earning money from bitcoins they will develop reluctance towards education. A child's education will be ruined whenever there is a reluctance to study in a child. And if education is lost from a child, that child can never become a human being. In my opinion I would say that children cannot be educated in bitcoin education at a young age. When a child is educated and turns 18+ then you can be ready to educate them in bitcoin education.

[Aanuoluwatofunmi]

In this case I disagree with Nayib Bukele approach because it is better not to educate children on Bitcoin education at a young age. If children are educated in bitcoin education at this age then they will become addicted to earning money from bitcoins as soon as they become addicted to earning money from bitcoins they will develop reluctance towards education. A child's education will be ruined whenever there is a reluctance to study in a child. And if education is lost from a child, that child can never become a human being. In my opinion I would say that children cannot be educated in bitcoin education at a young age. When a child is educated and turns 18+ then you can be ready to educate them in bitcoin education.

When has learning about financial economy become a thing of discouragement in the society, children were not learnt on how to begin to trade, education has hierarchy, it must be well understood by you that even in schools under academic standards for learning, there are rules for starting with the elementary basic foundation for children in every aspect of teaching, I don't think it's something bad to see the children being able to identify and understand the unique presence of a digital currency called Bitcoin, not even when the country itself had made this an official and approved legal tender, there have been so many other countries that taught about Bitcoin in their schools as well, yet Bitcoin is not a legal tender in those countries, but they realized the need to being informed of everything going around the financial economy and the world system at large, there's nothing bad with Bitcoin education on children.

[Fiatless]

In this case I disagree with Nayib Bukele approach because it is better not to educate children on Bitcoin education at a young age. If children are educated in bitcoin education at this age then they will become addicted to earning money from bitcoins as soon as they become addicted to earning money from bitcoins they will develop reluctance towards education. A child's education will be ruined whenever there is a reluctance to study in a child. And if education is lost from a child, that child can never become a human being. In my opinion I would say that children cannot be educated in bitcoin education at a young age. When a child is educated and turns 18+ then you can be ready to educate them in bitcoin education.

How do you see Bitcoin? Bitcoin is a currency designed to be used to pay for goods and services. I don't know what is wrong with teaching children about a currency that promotes decentralization and privacy. After all, money is part of the curriculum of most primary schools, so it is not wrong to introduce these young children to Bitcoin. What is wrong with preparing the young generation for the future? Don't forget that Bitcoin is legalized in El Salvador and citizens including children should be able to know how to use this currency.

I am sure these children will only be interested introduced to the basics of Bitcoin and little or no emphasis will be placed on Bitcoin as an investment. @2Pizza410000BTC don't just see Bitcoin as an investment but also perceive it as a currency.

[freedomno1]

Throws two cents in, not a bad location to invest in, safe clean and only going in the right direction something hard to say about other places.
Definitely not first world yet but it's a place that has communities that actually have the momentum and desire to make it happen.