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

[As-Soon-As]

El Salvador's President Nayib Bukele Donates 2 Bitcoin To Support Funding For 1,000 Schools Through Charity Run, On Wednesday, Stacy Herbert, Director of El Salvaodor's National Bitcoin Office, shared that President Bukele personally donated 2 BTCs from his wallet to Fujiyama.

In a video attached to the post, an emotional Fujiyama can be seen talking to Bukele, expressing his gratitude to the president.


https://x.com/stacyherbert/status/1849223444207919526

The philanthropist was currently on a 3,000 km charity run to raise funds to build 1000 schools in Honduras, a country with high levels of poverty. He founded Students Helping Honduras, an international non-profit to address socio-economic challenges in the region.


Earlier this year, Bukele reaffirmed El Salvador’s policy of buying one Bitcoin a day, stating that it would continue until Bitcoin becomes unaffordable with fiat currencies. As of this writing, it had 5,912.76 units of the cryptocurrency in its reserves, worth $397 million.

News source

In the country of El Salvador, the school of the country of Honduras will be built due to the generosity of President Nayib Bukele. Because of his right and generous mindset, students in this poor country will be able to gain knowledge about education, and these students will learn about the history of the school being built with bitcoins deposited in Nayib Bukele, and they will be more interested in bitcoin.
The liberal mindedness of present day hero Bukhel is providing special education to thousands of students, and this liberal mindedness is being appreciated all over the world. These students will surely be interested in learning more about Bitcoin later on and grow as holders.

[cryptocoupons]

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

It feels like an eternity since then.

[delfastTions]

Legislation on bitcoin and digital assets in El Salvador is gradually developing and supplemented by the legislators of this country.
As an example, amendments to the legislation on licensing companies for the turnover of bitcoin and other digital assets were recently adopted. This licensing began to take into account the regional peculiarities of the turnover of these assets in other countries. The problem that the authorities of the country solved in this case was that there was an abuse of licensing. And this license was used by some companies simply as a marketing move and additional advertising outside of El Salvador itself.  Statistics have shown that of the 106 bitcoin service providers registered in El Salvador with such a license, only 20 actually operate in the country. And there are 16 authorized digital asset service providers, but only 11 of them have real activity in the country. Since El Salvador is not a jurisdiction in which they operate, such permission becomes only a screen, since it is the authorities of the countries in which they are actually present who should take on this issue. But it is also extremely serious that these countries simply do not have a regulatory framework at all. In general, the situation can, of course, theoretically undermine the image of El Salvador as a leading state in these matters of digital assets and licensing.
Understanding the relevance of this problem, the country's authorities resolved this issue at the legislative level.

[famososMuertos]

:://:::

In the country of El Salvador, the school of the country of Honduras will be built due to the generosity of President Nayib Bukele. Because of his right and generous mindset, students in this poor country will be able to gain knowledge about education, and these students will learn about the history of the school being built with bitcoins deposited in Nayib Bukele, and they will be more interested in bitcoin.
The liberal mindedness of present day hero Bukhel is providing special education to thousands of students, and this liberal mindedness is being appreciated all over the world. These students will surely be interested in learning more about Bitcoin later on and grow as holders.

Yes, it is true that there is a positive aspect... but let's not forget that Bukele is a millionaire, and mind you, it's not that I question it, not at all., but we have to look at the facts as they are, this "philanthropy" has as its very fact the intrinsic process that Bukele seeks to promote a pro-bitcoin idea in Central America, and Honduras is a "candidate" to join that group with El Salvador.

Honduras' GDP, better than El Salvador's, has in fact been growing constantly since the second decade, you can see it in detail in the source below (it's Spanish, sorry).

El Salvador's GDP is number 104 among the 196 in the world, that tells you why the money comes out of Bukele's pocket and not the president's, this type of "donations" between countries exist through different agreements, but El Salvador's economy is so poor that this type of situation comes out of the pocket (peculium) of the individual who serves as president.

I repeat, we must look at the brilliance in politics with the lenses of "why", I do not doubt that the intentions are exceptional, but this is nothing other than "political lobbying in the region".

When Bukele, I say, in the future, no longer being president makes these donations, then... it is in my opinion true philanthropy of the individual to a cause, in this case for bitcoin.

And everything I have said seems to have a tone of criticism, but nothing to do with it, on the contrary, despite this "rigged" re-election I still believe in Bukele, but we must look at the political approach.

^{PIB El Salvador:https://datosmacro.expansion.com/pib/el-salvador
El Salvador vs. Honduras;https://datosmacro.expansion.com/paises/comparar/el-salvador/honduras}

[SickDayIn]

Old news, it has been legal tender for a very long time. The president of El Salvador even did a deal with a crypto exchange to give every citizen like $5 of crypto each a few years ago I recall.

[Die_empty]

Old news, it has been legal tender for a very long time. The president of El Salvador even did a deal with a crypto exchange to give every citizen like $5 of crypto each a few years ago I recall.

Using the word "crypto" is unacceptable in this case and the amount you stated is incorrect. The government of El Salvador ordered the transfer of $30 to the wallet of any citizen who downloads the Chivo wallet. Using the word crypto makes it look like they received a shitcoin from the government. There is a clear difference between Bitcoin and altcoins, next time you need to name the specific coins. 

[JayJuanGee]

Old news, it has been legal tender for a very long time. The president of El Salvador even did a deal with a crypto exchange to give every citizen like $5 of crypto each a few years ago I recall.

I believe that the El Salvador law defined Bitcoin as legal tender June 7, 2021 with an effective date three months after the passage of the law on September 7, 2021.

There were some screw ups with the airdrop of bitcoin to Salvadorean citizens (and yes it was bitcoin not crypto.. fuck crypto and shitcoins, El Salvador passed a law to make bitcoin legal tender, not shitcoins), but right around the same time that bitcoin became legal tender.  In order to receive the $30 equivalent airdrop, the Salvadorean needed to download and register the Chivo app, and so there were some problems with how the payments were made including some ways that people ended up claiming $30 that was supposed to be the airdrop of other citizens.  The intention may well have had been good, but the roll out of the $30 airdrop had a lot of problems.

Edit: We mentioned some similar ideas, yet Die_empty's post beat mine by 13 seconds.

[Luzin]

and so there were some problems with how the payments were made including some ways that people ended up claiming $30 that was supposed to be the airdrop of other citizens.  The intention may well have had been good, but the roll out of the $30 airdrop had a lot of problems.

Problems are part of success. I am very happy with El Salvador's bold move, they dare to take risks in all development limitations. Even they are currently considered successful because of the accumulation of BTC purchases. I think they continue to try to fix the problems that have been obtained for the time being. But today I read the news that one of the programs they created failed. This program is Bitcoin Visa. The news I read until now is that no Visa has been issued from the Bitcoin adoption program. The original plan of this program aimed to attract 1,000 investors to settle in El Salvador, to raise $1 billion.

Source: https://news.bitcoin.com

[fruktik]

In the country of El Salvador, the school of the country of Honduras will be built due to the generosity of President Nayib Bukele. Because of his right and generous mindset, students in this poor country will be able to gain knowledge about education, and these students will learn about the history of the school being built with bitcoins deposited in Nayib Bukele, and they will be more interested in bitcoin.
The liberal mindedness of present day hero Bukhel is providing special education to thousands of students, and this liberal mindedness is being appreciated all over the world. These students will surely be interested in learning more about Bitcoin later on and grow as holders.

I wish everyone had a president like Bukele. There are very few people like him now. Everyone is just putting money in their own pockets. It's great that children from poor families will be able to get a free education, which is very relevant in the current reality. There are few countries that are betting on cryptocurrencies. Quite the opposite, all they do is ban blockchain technology and its derivatives, not allowing anyone to even think about starting to study this area. And there is no talk of investing and buying crypto.

[FortuneFollower]

In the country of El Salvador, the school of the country of Honduras will be built due to the generosity of President Nayib Bukele. Because of his right and generous mindset, students in this poor country will be able to gain knowledge about education, and these students will learn about the history of the school being built with bitcoins deposited in Nayib Bukele, and they will be more interested in bitcoin.
The liberal mindedness of present day hero Bukhel is providing special education to thousands of students, and this liberal mindedness is being appreciated all over the world. These students will surely be interested in learning more about Bitcoin later on and grow as holders.

I wish everyone had a president like Bukele. There are very few people like him now. Everyone is just putting money in their own pockets. It's great that children from poor families will be able to get a free education, which is very relevant in the current reality. There are few countries that are betting on cryptocurrencies. Quite the opposite, all they do is ban blockchain technology and its derivatives, not allowing anyone to even think about starting to study this area. And there is no talk of investing and buying crypto.

On a side note - BTC is the escaper for those countries who cannot compete with those who don't see as many possibilities regarding BTC or crypto in general.
They will have an edge for a little time before the big fellas will come up and grab the sweetest parts of the pie when the time comes.

[Die_empty]

and so there were some problems with how the payments were made including some ways that people ended up claiming $30 that was supposed to be the airdrop of other citizens.  The intention may well have had been good, but the roll out of the $30 airdrop had a lot of problems.

Problems are part of success. I am very happy with El Salvador's bold move, they dare to take risks in all development limitations. Even they are currently considered successful because of the accumulation of BTC purchases. I think they continue to try to fix the problems that have been obtained for the time being. But today I read the news that one of the programs they created failed. This program is Bitcoin Visa. The news I read until now is that no Visa has been issued from the Bitcoin adoption program. The original plan of this program aimed to attract 1,000 investors to settle in El Salvador, to raise $1 billion.

Source: https://news.bitcoin.com

Being the first country to make Bitcoin a legal tender, they will make mistakes and also learn from them which will help them to keep improving. I think the government will have to evaluate the Bitcoin Visa program and identify why investors are not considering the opportunity. My observation is that the $1millon investment benchmark is too high. Some other countries are offering citizens by investment for as low as $200k. My suggestion is that they should reduce the amount and hopefully, it will become more attractive to investors.

The link you added is not showing the right news. This one is the correct one.

https://news.bitcoin.com/latam-insights-salvadoran-bitcoin-visa-program-fails-brazil-floats-tax-on-stablecoin-remittances/

[Luzin]

My suggestion is that they should reduce the amount and hopefully, it will become more attractive to investors.

The link you added is not showing the right news. This one is the correct one.

https://news.bitcoin.com/latam-insights-salvadoran-bitcoin-visa-program-fails-brazil-floats-tax-on-stablecoin-remittances/

Thanks for the correction, your link is correct. talking about Bitcoin Visa, common sense is quite heavy. The target of 1000 people is indeed big, while the attractiveness of El Salvador is not entirely good. There is no word yet on how the accumulated BTC purchase profits are up to the current price. I think they have profited a lot. Another news is that Bukele's vision is not working with the support of his community. Bukele has published a law but most restaurants, shops and hotels don't even accept Bitcoin payments. They show confusion about if anyone will make payments with Bitcoin.

Source: https://reason.com/2024/10/31/a-week-of-failing-to-pay-with-bitcoin-in-el-salvador/

[betswift]

My suggestion is that they should reduce the amount and hopefully, it will become more attractive to investors.

The link you added is not showing the right news. This one is the correct one.

https://news.bitcoin.com/latam-insights-salvadoran-bitcoin-visa-program-fails-brazil-floats-tax-on-stablecoin-remittances/

Thanks for the correction, your link is correct. talking about Bitcoin Visa, common sense is quite heavy. The target of 1000 people is indeed big, while the attractiveness of El Salvador is not entirely good. There is no word yet on how the accumulated BTC purchase profits are up to the current price. I think they have profited a lot. Another news is that Bukele's vision is not working with the support of his community. Bukele has published a law but most restaurants, shops and hotels don't even accept Bitcoin payments. They show confusion about if anyone will make payments with Bitcoin.

Source: https://reason.com/2024/10/31/a-week-of-failing-to-pay-with-bitcoin-in-el-salvador/

Maybe with time, things will change.
Hopefully, it will be safe and sound, and people will try it out and see the advantages.
 

[Gallar]

My suggestion is that they should reduce the amount and hopefully, it will become more attractive to investors.

The link you added is not showing the right news. This one is the correct one.

https://news.bitcoin.com/latam-insights-salvadoran-bitcoin-visa-program-fails-brazil-floats-tax-on-stablecoin-remittances/

Thanks for the correction, your link is correct. talking about Bitcoin Visa, common sense is quite heavy. The target of 1000 people is indeed big, while the attractiveness of El Salvador is not entirely good. There is no word yet on how the accumulated BTC purchase profits are up to the current price. I think they have profited a lot. Another news is that Bukele's vision is not working with the support of his community. Bukele has published a law but most restaurants, shops and hotels don't even accept Bitcoin payments. They show confusion about if anyone will make payments with Bitcoin.

Source: https://reason.com/2024/10/31/a-week-of-failing-to-pay-with-bitcoin-in-el-salvador/

In my opinion, this is a serious problem for the development of bitcoin adoption in El Salvador. Because of course the adoption of bitcoin will not run smoothly in El Salvador if for example its citizens don't jump in and use bitcoin in real life. So, in my personal opinion, Bukele should continue to instill deeper trust in Bitcoin among his citizens. Because if it's not like that, in the end legal bitcoin in El Salvador will only become law and bitcoin will not be widely used by its citizens (the majority). However, it cannot be denied that changing direction regarding the use of currency is certainly not an easy thing. Moreover, in El Salvador, not only bitcoin can be used for transactions, but there are also dollars, which of course is the currency that many El Salvadorans choose to use for transactions. That's why it's a bit difficult for residents in El Salvador to be invited to use bitcoin as a means of transaction, because there are dollars. But it can't be helped, if for example the Dollar was completely removed from El Salvador, it would definitely cause quite bad things too. Therefore, currently Bukele must continue to make his citizens believe in bitcoin, and must continue to be patient in waiting for his citizens to realize and trust bitcoin. Because it can be ascertained by the lack of people in El Salvador who carry out transactions using bitcoin, people who own shops or hotels in El Salvador will definitely be quite hesitant to accept transactions using bitcoin. But even so, I personally believe that for example Bukele can continue to be consistent with his current vision (adopting bitcoin successfully in El Salvador). I am sure that sooner or later his vision will be achieved.

[legiteum]

El Salvador is learning the hard way that the blockchain architecture was never ever meant to do what they are trying to do with it.

Bitcoin transactions can cost up to 40 USD and can take over 30 minutes sometimes. That's not just too slow and expensive, it's completely insane.

I believe that digital currency is the future, but only because I am involved with project that actually does scale to handle all of the world's daily transactions and does so in mere milliseconds and consistently at a fraction of a cent in costs.

If El Salvador chose a Haypenny currency instead of Bitcoin, then every single citizen there would be using digital currency now because it is so easy to adopt (with Haypenny you don't even really need a wallet).

As it is, all El Salvador is showing the world is how silly it is to try to use Bitcoin for something it was never designed to do.

[JayJuanGee]

My suggestion is that they should reduce the amount and hopefully, it will become more attractive to investors.

The link you added is not showing the right news. This one is the correct one.

https://news.bitcoin.com/latam-insights-salvadoran-bitcoin-visa-program-fails-brazil-floats-tax-on-stablecoin-remittances/

Thanks for the correction, your link is correct. talking about Bitcoin Visa, common sense is quite heavy. The target of 1000 people is indeed big, while the attractiveness of El Salvador is not entirely good. There is no word yet on how the accumulated BTC purchase profits are up to the current price. I think they have profited a lot. Another news is that Bukele's vision is not working with the support of his community. Bukele has published a law but most restaurants, shops and hotels don't even accept Bitcoin payments. They show confusion about if anyone will make payments with Bitcoin.
Source: https://reason.com/2024/10/31/a-week-of-failing-to-pay-with-bitcoin-in-el-salvador/

In my opinion, this is a serious problem for the development of bitcoin adoption in El Salvador. Because of course the adoption of bitcoin will not run smoothly in El Salvador if for example its citizens don't jump in and use bitcoin in real life. So, in my personal opinion, Bukele should continue to instill deeper trust in Bitcoin among his citizens. Because if it's not like that, in the end legal bitcoin in El Salvador will only become law and bitcoin will not be widely used by its citizens (the majority). However, it cannot be denied that changing direction regarding the use of currency is certainly not an easy thing. Moreover, in El Salvador, not only bitcoin can be used for transactions, but there are also dollars, which of course is the currency that many El Salvadorans choose to use for transactions. That's why it's a bit difficult for residents in El Salvador to be invited to use bitcoin as a means of transaction, because there are dollars. But it can't be helped, if for example the Dollar was completely removed from El Salvador, it would definitely cause quite bad things too. Therefore, currently Bukele must continue to make his citizens believe in bitcoin, and must continue to be patient in waiting for his citizens to realize and trust bitcoin. Because it can be ascertained by the lack of people in El Salvador who carry out transactions using bitcoin, people who own shops or hotels in El Salvador will definitely be quite hesitant to accept transactions using bitcoin. But even so, I personally believe that for example Bukele can continue to be consistent with his current vision (adopting bitcoin successfully in El Salvador). I am sure that sooner or later his vision will be achieved.

I am not going to claim to know all the things that Bukele should do because I think that there is already a lot of progress in terms of creating an environment in which no one is going to get punished for using bitcoin, allowing for tax friendly treatment in regards to not placing any extra accounting burdens on bitcoin transactions (regarding capital gains, etc), facilitating various kinds of bitcoin-related teaching programs around the country.

Citizens are likely going to figure out the various advantages in regards to transacting in bitcoin and attempting to figure out ways to hold some of their value in bitcoin, even though surely there are going to be people who may well not be in a position to maintain investments in bitcoin and/or savings, since they are ONLY transacting, and there may well be easier and more practical ways of transacting for some of those folks who are not saving any of their income into bitcoin or saving in any kind of meaningful way... besides maybe having some cash float that they may well prefer to keep in dollars rather than keeping such cash float in bitcoin.. which is more than reasonable for people who do not have high enough incomes to be able to save for 4-10 years or longer.

El Salvador is learning the hard way that the blockchain architecture was never ever meant to do what they are trying to do with it.

Are you just making shit up?  What do you think that El Salvador is trying to do with bitcoin, except that they made it legal tender and they are trying to promote it.  Other things that they are doing are just building infrastructure around bitcoin, so who gives any shits about what they do or don't do in those various ventures that may or may not be successful. Also, when El Salvador created Chivo and other bitcoin-related projects, that is not about bitcoin, but instead it is about El Salvador trying to build systems on bitcoin, including that failures and mistakes can happen when entities, individuals and/or governments try to build various systems on bitcoin or any other things that they might try to build.

Bitcoin transactions can cost up to 40 USD and can take over 30 minutes sometimes. That's not just too slow and expensive, it's completely insane.

Yes.. Fees on bitcoin vary.. but so what?  Are you concerned that you cannot buy a coffee on bitcoin? or what?  How about using lightning network or some second layer to buy your coffee if that is what you want to do.  Not being able to buy a coffee 24/7/365 does not even come close to suggesting that bitcoin is failing or that"insane" things are happening in regards to bitcoin onchain fee/transaction dynamics.

I believe that digital currency is the future, but only because I am involved with project that actually does scale to handle all of the world's daily transactions and does so in mere milliseconds and consistently at a fraction of a cent in costs.

Oh?  You are here to pump some shitcoin?  First you suggest that bitcoin does not work or there is something defective in bitcoin, and that your shitcoin is going to fix what is supposedly broken in bitcoin and/or broken in El Salvador.

If El Salvador chose a Haypenny currency instead of Bitcoin,

Then they would have had been retarded.  Good thing that they don't have you as their advisor.  We should almost be reporting your post for promoting your shitcoin in this bitcoin-related thread.

Do you realize that El Salvaldor made bitcoin legal tender, and they did not fuck around with making assertion in regards to the various (around 20,000 or more) shitcoins that were available in 2021 or even more shitcoins that are available now, yet shitcoins are even taking a BIGGER and BIGGER beating in the past few years, deservedly so.

then every single citizen there would be using digital currency now because it is so easy to adopt (with Haypenny you don't even really need a wallet).

As it is, all El Salvador is showing the world is how silly it is to try to use Bitcoin for something it was never designed to do.

Hopefully El Salvador (perhaps Bukele himself?) will read this post and invite you to come down to El Salvador to help to set them on "a more correct" path.. since of course, your shitcoin is better than bitcoin.

[legiteum]

El Salvador is learning the hard way that the blockchain architecture was never ever meant to do what they are trying to do with it.

Are you just making shit up?  What do you think that El Salvador is trying to do with bitcoin, except that they made it legal tender and they are trying to promote it.  Other things that they are doing are just building infrastructure around bitcoin, so who gives any shits about what they do or don't do in those various ventures that may or may not be successful.

So you are saying that El Salvador is engaged in a giant pump-and-dump? Maybe. I guess if that's what they are trying to do, then it doesn't matter if the idea works on a practical level.

Bitcoin transactions can cost up to 40 USD and can take over 30 minutes sometimes. That's not just too slow and expensive, it's completely insane.

Yes.. Fees on bitcoin vary.. but so what?  Are you concerned that you cannot buy a coffee on bitcoin? or what?

That was my point, yes. Many people probably think that making Bitcoin "legal tender" means using it as the country's currency. That's wrong (and I think instead its more like the above), but that's the impression they would probably give a lot of people.

How about using lightning network or some second layer to buy your coffee if that is what you want to do. 

Sure, use other technologies besides Bitcoin for mainstream transactions. That sounds reasonable.

I believe that digital currency is the future, but only because I am involved with project that actually does scale to handle all of the world's daily transactions and does so in mere milliseconds and consistently at a fraction of a cent in costs.

[...]

then every single citizen there would be using digital currency now because it is so easy to adopt (with Haypenny you don't even really need a wallet).

As it is, all El Salvador is showing the world is how silly it is to try to use Bitcoin for something it was never designed to do.

Hopefully El Salvador (perhaps Bukele himself?) will read this post and invite you to come down to El Salvador to help to set them on "a more correct" path.. since of course, your shitcoin is better than bitcoin.

So every digital currency that is not Bitcoin is a "shitcoin"? That's a pretty narrow take on technology there. Many of us who have been around the tech world for a long time have seen things like Bitcoin come and go--and yet people swear the hottest thing at the time will stay around forever and ever.

[JayJuanGee]

El Salvador is learning the hard way that the blockchain architecture was never ever meant to do what they are trying to do with it.

Are you just making shit up?  What do you think that El Salvador is trying to do with bitcoin, except that they made it legal tender and they are trying to promote it.  Other things that they are doing are just building infrastructure around bitcoin, so who gives any shits about what they do or don't do in those various ventures that may or may not be successful.

So you are saying that El Salvador is engaged in a giant pump-and-dump? Maybe. I guess if that's what they are trying to do, then it doesn't matter if the idea works on a practical level.

It's not easy to take you seriously if you seem to be suffering from reading comprehension and abilities to actually understand what is being said..

Oh wait?  You are not even trying to understand because you are too busy pushing your own disinformation campaign.

The idea on a practical level is that El Salvador's making bitcoin legal tender has signaled that the El Salvador government is not hostile to bitcoin and it is open to bitcoin innovations.

Bitcoin transactions can cost up to 40 USD and can take over 30 minutes sometimes. That's not just too slow and expensive, it's completely insane.

Yes.. Fees on bitcoin vary.. but so what?  Are you concerned that you cannot buy a coffee on bitcoin? or what?

That was my point, yes. Many people probably think that making Bitcoin "legal tender" means using it as the country's currency. That's wrong (and I think instead its more like the above), but that's the impression they would probably give a lot of people.

For all practical purposes, prior to 2021, El Salvador ONLY transacted in dollars, so bitcoin gave another transaction option, yet of course, there would also be needs for merchants to have bitcoin acceptance as an option, so helping merchants to be able to accept bitcoin would be one of the matters that the El Salvador government had been trying to promote, which truly if few merchant's are accepting bitcoin then the citizens still would ONLY have the dollar as their transaction options.

Transactions using bitcoin do not ONLY happen onchain, and you are not even fairly representing onchain fees if you are suggesting that $40 fees are representative, even though there have been recent periods that onchain fees have gotten that high.

I am not going to claim to know the breakdown of how transactions have been taken place in El Salvador over the past 3-ish years, even though surely there have been criticizms that El Salvador transactions were taking place through custodians and/or over lightning network, which truly would NOT have had those levels of transaction fees, even through there are other problems that come from relying upon custodians for transactions, including claims that they are not really bitcoin transactions.

How about using lightning network or some second layer to buy your coffee if that is what you want to do. 

Sure, use other technologies besides Bitcoin for mainstream transactions. That sounds reasonable.

I am not referring to pumping shitcoins, like yours.

I believe that digital currency is the future, but only because I am involved with project that actually does scale to handle all of the world's daily transactions and does so in mere milliseconds and consistently at a fraction of a cent in costs.

[...]

then every single citizen there would be using digital currency now because it is so easy to adopt (with Haypenny you don't even really need a wallet).

As it is, all El Salvador is showing the world is how silly it is to try to use Bitcoin for something it was never designed to do.

Hopefully El Salvador (perhaps Bukele himself?) will read this post and invite you to come down to El Salvador to help to set them on "a more correct" path.. since of course, your shitcoin is better than bitcoin.

So every digital currency that is not Bitcoin is a "shitcoin"?

Yes.  That's correct.

That's a pretty narrow take on technology there. Many of us who have been around the tech world for a long time have seen things like Bitcoin come and go--and yet people swear the hottest thing at the time will stay around forever and ever.

You seem to not understand bitcoin very well if you think that various shitcoins compete with it or reasonably compare with it.. or if you consider that bitcoin is merely a means to employ small (coffee-level) transactions.  But hey whatever, you can believe what you like. Hopefully, since you are claiming to be so technologically literate, then you could spend some time studying and trying to understand a wee bit more better, and perhaps I could give you a suggestion that the value of bitcoin does not just come from its technology, even though surely the moneyness of bitcoin does remain important and there are several ways in which bitcoin achieved its moneyness through the use of technology.. .including if you are able to recognize how bitcoin achieves its soundness and other aspects of money like verifiabiity, scarcity, transportability, divisibleness, abilities to transact without having to use a third party and other aspects.

Maybe if Bukele (or his team) does not directly reach out to you, then you could figure out some way to contact him (or his team) directly so that you can get him to adopt your shitcoin... if that might be part of what you are wanting to achieve in regards to the means of payment considerations or the extent to which your shitcoin might be pegged to bitcoin as a second layer, except I just took a quick look at your crappy coin and the fact that it has it's own token is not going to help it to seem as if it is not a scam.. so you might have to figure out how to fix that part of your shitcoin so that you might be able to gain some credibility in regards to your coin being sufficiently credible, like bitcoin or trying to build upon bitcoin rather than pumping your own bags... of which illogically you are proclaiming that El Salvador is doing the thing that you are doing, so you need to think about bitcoin with a bit more clarity in terms of bitcoin is more of a neutral coin that does not have a central party manipulating it or premining it, so anyone pumping or promoting bitcoin cannot be guilty of pump and dump because they have no control over bitcoin, even if there are some BIG players currently trying to accumulate a lot of bitcoin's supply, but their accumulation of BTC's supply does not give them greater control over it, even if you would like to insinuate bitcoin in such a direction..as seems to be the case with the coin that you are promoting.

[Luzin]

I am not going to claim to know all the things that Bukele should do because I think that there is already a lot of progress in terms of creating an environment in which no one is going to get punished for using bitcoin, allowing for tax friendly treatment in regards to not placing any extra accounting burdens on bitcoin transactions (regarding capital gains, etc), facilitating various kinds of bitcoin-related teaching programs around the country.

It's hard to know why they don't even implement the programs that have been stipulated in the country's laws. There is no detailed explanation. But I think the initial problem is not understanding how it works. Other predictions are scalability and volatility issues that make the cost expensive and the value unstable that they think it could be detrimental. So they prefer to use official money that is recognized by other countries and has a fixed value. It's a classic problem that is hard to overcome, but I take it as a given. I think if this program continues then slowly it will work better.

[legiteum]

So every digital currency that is not Bitcoin is a "shitcoin"?

Yes.  That's correct.

I'll ignore the rest of your post because you seem to be very agitated here, and have resorted to spitting out almost nothing but personal attacks--and I'm sure nobody here wants a flame war to fill up their screens.

But I think you've made your stance clear, so we'll agree to disagree.