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

[0t3p0t]

El Salvador is ironically one of the countries where its citizens do not have access to a bank account, but a cell phone and Internet connection have a higher percentage.

I appreciate what their president did to legalize Bitcoin as a legal tender on their country El Salvador. It's a slap to the face for banks that it's citizens has no access to them but has access to Bitcoin. But the only problem with this is the high fees but if it is fixed in the future then I think they are like living in paradise where other countries are struggling on legalizing Bitcoin.

[thecodebear]

El Salvador is ironically one of the countries where its citizens do not have access to a bank account, but a cell phone and Internet connection have a higher percentage.

I appreciate what their president did to legalize Bitcoin as a legal tender on their country El Salvador. It's a slap to the face for banks that it's citizens has no access to them but has access to Bitcoin. But the only problem with this is the high fees but if it is fixed in the future then I think they are like living in paradise where other countries are struggling on legalizing Bitcoin.

If people want to use bitcoin for payments they use LN. Nobody using bitcoin for payments is bothering with high fees. The company Strike worked closely with El Salvador back when the country made the leap into Bitcoin to get them set up with LN, so anyone using Bitcoin for payments in El Salvador can definitely use LN and isn't worrying about fees.

[famososMuertos]

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@0t3p0t is not my president but you have to have "balls" to do what he did, I hope some can do something similar in South America, Milei dreams of doing "something."

 @thecodebear LN does not work as freely as you mention, it is not like that, in fact Chivo wallet that worked under zero commission has been a failure.

 Let's hope that bitcoin resurfaces in 2024 again, because the statistical data does not favor the status of legal currency that bitcoin has.

[Jaycoinz]

El Salvador is ironically one of the countries where its citizens do not have access to a bank account, but a cell phone and Internet connection have a higher percentage.

I appreciate what their president did to legalize Bitcoin as a legal tender on their country El Salvador. It's a slap to the face for banks that it's citizens has no access to them but has access to Bitcoin. But the only problem with this is the high fees but if it is fixed in the future then I think they are like living in paradise where other countries are struggling on legalizing Bitcoin.

I think that's the downside to this wonderful innovation and that's why it's said everything has disadvantage and advantage. Well not only the El Salvador community that is facing this high fee issue but every Bitcoiner on earth and that's why another solution should be put in place to handle this issue. Although I know that the lightning network has set to handle such cases of fee but the adoption is really slow although I don't know for the case of its use in El Salvador but I say this because of the ratio of its use here. I hope El Salvador adoption of Bitcoin as legal tender will suddenly pave way to other countries to look into how beneficial the use of Bitcoin in their nation can be.

[JayJuanGee]

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.

I would imagine that kids are not just learning about basic ideas of transacting with bitcoin, but there would likely be some age appropriate matters in regards to ideas behind money and deferred gratifications and maybe various theories of sound money versus less sound money and how money systems work... so some of the kids would not be able to understand some aspects, but it could still be presented in different ways depending on the age, including that some kids might be able to get allowances and keep some money to themselves, and other kids might not learn about those kinds of dynamics of a budget in which choices are made about how much money to spend on various expenses related to the family, versus various members of the family and maybe learning how some expenses are more fixed and others are more flexible. .and maybe some of the details of family expenses would not be known to the kid, and the parents might not be willing to ask.. some parents might teach kids that they get an allowance no matter what, and other kids might learn that they ONLY get an allowance if they perform some work.. or helping of the family...

There will be variation, and some parents might not want their kids to know very much, but if it is brought into the school, then there has to be choices about which ways to present the materials that might be less objectionable to parents.. or that parents would appreciate that their kids are learning certain topics rather than other topics..  Topics are not necessarily without controversy, and surely bitcoin has the potential to touch upon a lot of areas of study including politics, history, world events, personal finance, business and economics, psychology, sociology, game theory, computer science (technology - main chain, lightning network other networks, perhaps discussion of some shitcoin dynamics), cryptography and a variety of others... so there would still be a lot of ways to figure out how to present bitcoin-related topics in age-appropriate kinds of ways and there could be smart ways and dumb ways of presenting thes kinds of topics.

[Popkon6]

El Salvador is ironically one of the countries where its citizens do not have access to a bank account, but a cell phone and Internet connection have a higher percentage.

I appreciate what their president did to legalize Bitcoin as a legal tender on their country El Salvador. It's a slap to the face for banks that it's citizens has no access to them but has access to Bitcoin. But the only problem with this is the high fees but if it is fixed in the future then I think they are like living in paradise where other countries are struggling on legalizing Bitcoin.

I think that's the downside to this wonderful innovation and that's why it's said everything has disadvantage and advantage. Well not only the El Salvador community that is facing this high fee issue but every Bitcoiner on earth and that's why another solution should be put in place to handle this issue. Although I know that the lightning network has set to handle such cases of fee but the adoption is really slow although I don't know for the case of its use in El Salvador but I say this because of the ratio of its use here. I hope El Salvador adoption of Bitcoin as legal tender will suddenly pave way to other countries to look into how beneficial the use of Bitcoin in their nation can be.

El Salvador recognized Bitcoin as legal tender in 2021, and the government of the country of El Salvador, Nayeb Bukele, has given the people of his country every opportunity to become addicted to Bitcoin. Over 2.5% of all people hold Bitcoin. More bitcoin holdings will increase in the future, as they receive full bitcoin transaction returns. The people of El Salvador, including the country's government, have been trying hard to improve Bitcoin adoption. Because El Salvador has developed various energy production facilities including volcanoes.

[JayJuanGee]

El Salvador is ironically one of the countries where its citizens do not have access to a bank account, but a cell phone and Internet connection have a higher percentage.

I appreciate what their president did to legalize Bitcoin as a legal tender on their country El Salvador. It's a slap to the face for banks that it's citizens has no access to them but has access to Bitcoin. But the only problem with this is the high fees but if it is fixed in the future then I think they are like living in paradise where other countries are struggling on legalizing Bitcoin.

I think that's the downside to this wonderful innovation and that's why it's said everything has disadvantage and advantage. Well not only the El Salvador community that is facing this high fee issue but every Bitcoiner on earth and that's why another solution should be put in place to handle this issue. Although I know that the lightning network has set to handle such cases of fee but the adoption is really slow although I don't know for the case of its use in El Salvador but I say this because of the ratio of its use here. I hope El Salvador adoption of Bitcoin as legal tender will suddenly pave way to other countries to look into how beneficial the use of Bitcoin in their nation can be.

El Salvador recognized Bitcoin as legal tender in 2021, and the government of the country of El Salvador, Nayeb Bukele, has given the people of his country every opportunity to become addicted to Bitcoin. Over 2.5% of all people hold Bitcoin. More bitcoin holdings will increase in the future, as they receive full bitcoin transaction returns. The people of El Salvador, including the country's government, have been trying hard to improve Bitcoin adoption. Because El Salvador has developed various energy production facilities including volcanoes.

Surely it is close to impossible to figure accurate measures in regards to how many people hold bitcoin and what quantity of bitcoin would be a threshold amount for proclaiming that the person holds bitcoin.

This has been a challenge for the bitcoin space since the beginnings, especially since bitcoin is pseudo-anonymous, yet sometimes with some of the various third-party custodians or even services provided by third-parties, we can sometimes get some better ideas regarding how many people hold and/or transact with bitcoin.. . yet at the same time, if we get into KYC kinds of matters, then that takes aways decent amounts of BTC's quasi-anonymity... which also would have some potentials of taking away some of its power or its raison d'etr  

[delfastTions]

Almost since the New Year in El Salvador launched a new Bitcoin wallet, Sivar Wallet. 
It was developed by a local Salvadoran company, Sivar Investment.  The wallet is available on Google Play which makes it convenient for all kinds of household payments by the country's population in bitcoins.  Devs report that the commission for using it will be about 2%.  Devs also hope that the development will be popular among small businesses in the country.  The wallet naturally allows you to use both the main Bitcoin blockchain and also the Lighting Network protocol, which is important for micropayments and simple household payments.  There is also a clear link to the client’s bank account. 
I think that although this company's project has a lot of competitors around the world, being a local Salvadoran company, it has a better chance of success.  Since their business is completely legalized in the country and there cannot be any insufficiently substantiated claims from local regulators. 

Sivar Wallet

[AirtelBuzz]

El Salvador is the first country in the world to accept Bitcoin as legal tender. The President of this country, Nayeb Bukel, has taken various steps to expand Bitcoin in his country. El Salvador is the first country to incorporate Bitcoin education into their public school system.

A workbook has been created to teach Bitcoin to students in El Salvador called the Open Source Bitcoin Diploma. This workbook of theirs is based on the @MyfirstBitcoin_ open source Bitcoin Diploma and is said to be of high quality. It's a workbook called Bitcoin Diploma that will be taught to high school students in El Salvador starting February 6 to educate them about Bitcoin. I think this is another important step for the expansion of Bitcoin in El Salvador.

El Salvador is going to become the best bitcoin literate nation in the world and will even be in the future.

  Picture from X

[Just Say]

Citizenship for $1 Million Bitcoin Investment in El Salvador

El Salvador is the first country to grant citizenship based on the size of an applicant's cryptocurrency investment.
El Salvador has launched a new visa program in their country that will grant citizenship to those who invest $1 million in Bitcoin (BTC) or Tether (USDT). Their move will further cement El Salvador's position as the most crypto-friendly country.

citizenship-in-el-salvador

[harapan]

That's how it is! This announcement was left for the end of the 2021 Bitcoin Conference with the participation of Jack Mallers.
Among the most impressive that helped me understand why bitcoin will be the currency that will lead the country of El Salvador is this.

"Over 70% of the active population of El Salvador doesn't have a bank account. They're not in the financial system." -Jack Mallers

https://twitter.com/TheBitcoinConf/status/1401279373223866369?s=19

At the conference the president of El Salvador makes the announcement.

President of El Salvador, Nayib Bukele: "Next week I will send to congress a bill that will make #bitcoin a legal tender."

https://twitter.com/BitcoinMagazine/status/1401279550538108933?s=19

El Salvador's president be doing the most,despite how the adoption and existence of bitcoin has been ridiculed and criticized,El Salvador still intends to use bitcoin as a "legal tender".I'm equally impressed with this new implementation.

Nayib Bukele claimed it would be a boom for financial inclusion, investment, innovation, and economic development.Since bitcoin adoption have not been in usage as a medium of exchange,this el Salvador economic decision can  encourage other countries to improve their financial improvement.This will improve lives and the future of innumerable beings.

[Dunamisx]

Citizenship for $1 Million Bitcoin Investment in El Salvador

El Salvador is the first country to grant citizenship based on the size of an applicant's cryptocurrency investment.
El Salvador has launched a new visa program in their country that will grant citizenship to those who invest $1 million in Bitcoin (BTC) or Tether (USDT). Their move will further cement El Salvador's position as the most crypto-friendly country.

citizenship-in-el-salvador

Stalled news, maybe you should go through some more few pages behind a d see how many times this has already been discussed, you would have done yourself more good by checking on the current aspect of discussion or following the thread as it progress than just making your post without considering wether it has been discussed already or not, never forget that this thread has been dedicated to El-salvador and ever since it's adoption, every other discussions could be seen concerning their progress and achievements over the years.

[FinePoine0]

In 2015, El Salvador had 6656 homicides and one of highest murder rates out of all the countries in the world

In 2022, President @nayibbukele’s campaign against organized crime had managed to decrease the figure to 496 homicides

El Salvador just closed 2023 with 154 homicides!
Source link

[Gallar]

In 2015, El Salvador had 6656 homicides and one of highest murder rates out of all the countries in the world

In 2022, President @nayibbukele’s campaign against organized crime had managed to decrease the figure to 496 homicides

El Salvador just closed 2023 with 154 homicides!
Source link

Nayib Bukele is indeed a very wise president and can also be said to be great at making decisions. Because during his leadership he has made major changes for El Salvador, including reducing the crime rate and legalizing bitcoin.

However, it seems that bringing up the topic of the crime rate that occurs in El Salvador on this topic seems a bit inappropriate. Because as the title suggests, this thread discusses the legalization of bitcoin which occurred in El Salvador. So even though the direction is still towards Nayib Bukele and El Salvador. But if the discussion is not about bitcoin, in my opinion the post can be said to be off topic.

Koreski if I'm wrong

[AprilioMP]

Nayib Bukele is indeed a very wise president and can also be said to be great at making decisions. Because during his leadership he has made major changes for El Salvador, including reducing the crime rate and legalizing bitcoin.

Not because he is the President who legalized Bitcoin so he calls him a wise President, but because Bukele is a leader who is able to see future opportunities.
Decision making is always not easy for every leader, but Nayib Bukele, with his abilities and power, is willing to take advantage of it all for change for the better.

People who have advantages like Bukele must be supported and must be criticized if we think they are no longer on the right path.
See when speculators say Bitcoin can reach a price of $1k, other people will underestimate it and think it's impossible. Now that it's at $44k, there are still those who say there's no way it will ever reach $70k or $100k.

Nayib Bukele is different. We will see another president who has a far-sighted view of future opportunities. He is Javier Milei, the president of Argentina who is pro Bitcoin.

[Zanab247]

Nayib Bukele is indeed a very wise president and can also be said to be great at making decisions. Because during his leadership he has made major changes for El Salvador, including reducing the crime rate and legalizing bitcoin.

Not because he is the President who legalized Bitcoin so he calls him a wise President, but because Bukele is a leader who is able to see future opportunities.
Decision making is always not easy for every leader, but Nayib Bukele, with his abilities and power, is willing to take advantage of it all for change for the better.

People who have advantages like Bukele must be supported and must be criticized if we think they are no longer on the right path.
See when speculators say Bitcoin can reach a price of $1k, other people will underestimate it and think it's impossible. Now that it's at $44k, there are still those who say there's no way it will ever reach $70k or $100k.

Nayib Bukele is different. We will see another president who has a far-sighted view of future opportunities. He is Javier Milei, the president of Argentina who is pro Bitcoin.

What Nayid Bukele did to El Salvador that brought so much investors into the land of El Salvador made him to be among the best president in the world. Nayid Bukele is a graduate who understand decentralized currency like something that will bring development to a country like what the whole world is seeing today in the land of El Salvador today and, for the country to be the first country to make BTC legal tender.

 The boldness El Salvador president have to carry out the operation in the country to see the light at the end, I don't think Argentina president will have the same experience or skills to make it easy.

[Aanuoluwatofunmi]

The boldness El Salvador president have to carry out the operation in the country to see the light at the end, I don't think Argentina president will have the same experience or skills to make it easy.

Maybe we shouldn't start yet with comparing one country to another, we all have our individual differences knowing well that all fingers are not equal, El-salvador have the opportunity to make bitcoin adoption the earliest possible time and that is best for the wellbeing of the country's financial economy development and they are seing the dividend already because they are fast in taking advantage in bitcoin adoption which is what many others lack, Argentina are also having this same intuition but are rather lacking the force for an implementation, maybe this year could bring in more roo to see other countries adopting bitcoin as legal tender.

[Do or Die]

El Salvador's BTC Bet Gains $13M As Bitcoin ETF Approves Procedure

The country began buying bitcoin in September 2021, paying $47,250 to $52,670 for 700 BTC over a two-week period. President Nayeb Bukel hailed the investment as "back in the black" last month.
The most recent purchase was in November 2022, when the price of Bitcoin was $27,780, bringing the average cost of the stash to $42,440. El Salvador has a total of 2,798 bitcoins ($131.3 million)

https://www.coindesk.com/business/2024/01/09/el-salvadors-btc-bet-is-13m-in-profit-as-bitcoin-etf-approval-approaches/

[AirtelBuzz]

Two digital nomads living in El Salvador launched a fast-growing Bitcoin community



Two digital nomads living in a small picturesque mountain town of 20,000 in El Salvador have started a domino of Bitcoin acceptance in this small mountain town of Berlin. Which is a small mountain town located about 2 hours east of San Salvador.


https://bitcoinmagazine.com/culture/how-two-digital-nomads-launched-the-fastest-growing-bitcoin-community-in-el-salvador

[LoyceV]

In 2015, El Salvador had 6656 homicides and one of highest murder rates out of all the countries in the world

In 2022, President @nayibbukele’s campaign against organized crime had managed to decrease the figure to 496 homicides

El Salvador just closed 2023 with 154 homicides!

I remember the outrage up to the media in my country, when El Salvador arrested 15000 (suspected) gang members. Well, guess what: arresting criminals works