Will El Salvador become the "Home of Bitcoin"?

[cabron]

Other countries are very cautious in following the government of El Salvador because they are also avoiding sanctions which the IMF will impose on them that they already raised issues because of it. The world bank also refuses to help the country with this BTC transition.  If the El Salvador government is able to push through despite all the struggle, I think it will be a glorious achievement for them and the crypto community.

[amishmanish]

El Salvador is using Bitcoin hoping that Bitcoin will do something for them. As a community, it would be stupid for us to pin hopes and expectation on them to do something for Bitcoin. The only interesting thing is that Jack Mallers and his team get to provide an LN wallet and access to Bitcoin to 6 Million people. If the infrastructure works well enough, that'd be a win.

Already they have had problems with wallet functioning and ATMs. This isn't something wrong with bitcoin of course, its just the glitches that come with any sort of infrastructure development. Every day on Twitter, we get to watch videos of adoption in small restaurants and people acknowledging that Bitcoin gives them a way to save.

The best outcome would be if more companies go and set shop there. It is easy to say so when its already someone else doing it, or some passionate kid who couldn't stop himself from crying on-stage while expressing his dreams about helping the people. For example, Almost everyone of us "hopes" that someone will go and set shop there. Yet, only a miniscule percentage would actually dare to do so themselves. It is time for basic economics to work. If favorable legislation and tax regime would make it profitable to run Bitcoin/ crypto businesses from El Salvador, we'll see a rush of companies and improvement in livelihoods of people there. That is the best we can hope for.

[cotton ball]

el salvador will indeed be the home of bitcoin, but to say that other countries will follow el salvador's steps, it is very unlikely, because developed countries like America do not want to take risks, because their usd currency is still very valuable, and is still needed by other countries. .

[Renampun]

El Salvador is now the first country in the world to embrace Bitcoin as legal tender. This is good news for Bitcoin and cryptocurrency in general, because it increases mainstream adoption and demand like skyrocket. China's recent crackdown on Bitcoin, could force miners to move to other countries with a friendly stance towards it. El Salvador could see an increase in miner's interest as China and other restrictive countries lose luster in the world of crypto. Of course, the impact won't be that much because El Salvador is a third-world country. Yet, it's something better than nothing.

What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.

although this is too early to tell, I believe El Salvador will be the 'home of Bitcoin'

El Salvador was the first country in the world to officially announce to the world accepting Bitcoin as a legal tender, so El Salvador deserves to be called the 'home of Bitcoin'. Judging from the consistent attitude aimed by the current president of ES I believe Bitcoin will be accepted there forever, under his leadership.

[LogitechMouse]

What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.

It might be for now because there might be another country who will do the same thing that El Salvador did . Ohhh wait, what does "Home of Bitcoin" even mean .
Now regarding Bitcoin as a legal tender in the future. With this move by El Salvador, it might create a domino effect towards other 3rd world countries as well. Bitcoin might be used as a legal tender in the future aside from the usual fiat currency that we are using.

Now with China banning crypto mining, they might as well migrate and move to El Salvador. If they really want to mine there for sure there will be some who will do this.

[TribalBob]

El Salvador is now the first country in the world to embrace Bitcoin as legal tender. This is good news for Bitcoin and cryptocurrency in general, because it increases mainstream adoption and demand like skyrocket. China's recent crackdown on Bitcoin, could force miners to move to other countries with a friendly stance towards it. El Salvador could see an increase in miner's interest as China and other restrictive countries lose luster in the world of crypto. Of course, the impact won't be that much because El Salvador is a third-world country. Yet, it's something better than nothing.

What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.

When EL Salvador voiced their country to legalize bitcoin as a legal payment, it could be said for now it could be a "Bitcoin house" but if more and more countries legalize it will definitely change the criteria that will be taken to become a comfortable home for bitcoin,

[elisabetheva]

el salvador will indeed be the home of bitcoin, but to say that other countries will follow el salvador's steps, it is very unlikely, because developed countries like America do not want to take risks, because their usd currency is still very valuable, and is still needed by other countries. .

yes bitcoin is made comfortable in the country of el savador, so it is fair to say that this country is the home of bitcoin, because the government really provides a great opportunity for bitcoin to be used the same as its currency. Of course this is obviously good news at least that many other countries will probably give recognition although not as freely as with el savador but this is a step forward.

Of course, if for the US it is clear that it will not provide the same freedom as El Salvador, you are right, because you collide with their US$ which is still very much needed. but the US has no prohibition and there are many places that can accept bitcoin so actually that is also recognition but maybe the portion is different, as well as other countries.

[john_nautica]

Being the first country to accept Bitcoin as a legal currency, this put El Salvador on the light compared to other countries. This may be the primary reason why it can be called “Home of Bitcoin”, but as soon as other countries follow its footstep, which is still in question of happening, the title would most likely be fought for and certain criteria will be set forth.

[Silberman]

El Salvador is now the first country in the world to embrace Bitcoin as legal tender. This is good news for Bitcoin and cryptocurrency in general, because it increases mainstream adoption and demand like skyrocket. China's recent crackdown on Bitcoin, could force miners to move to other countries with a friendly stance towards it. El Salvador could see an increase in miner's interest as China and other restrictive countries lose luster in the world of crypto. Of course, the impact won't be that much because El Salvador is a third-world country. Yet, it's something better than nothing.

What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.

I do not know if this will happen but there is one thing I know, El Salvador is actually trying to achieve this, the president of this country is leaving no stone unturned and is doing everything they can to achieve this, it seems he understands the end game, the days of the US dollar as the hegemonic currency of the world are coming to an end and something else will have to take its place, and it seems he thinks bitcoin could be the currency that does and he wants to get in as soon as possible.

[jesselui]

I think no. El Salvador may even abandon its bitcoin decision after a while. Because it has a very dangerous side. Countries like America, England cannot survive if they do not support bitcoin.

[Bitstar_coin]

Well with the rate at which they are going and the level of which they are including the use of btc to be legally used for transaction I would say definitely yes, El Salvador is making name and putting itself on the spotlight for the rest of the world to see,  one step at a time, the most important thing is recognising btc importance and willing to adopt it for better, secure and faster transaction, this single act can draw the attention of btc lovers who only want to spend btc freely to that country, am soon great economic changes will start happening in El Salvador.

[Viscore]

Being the first country to accept Bitcoin as a legal currency, this put El Salvador on the light compared to other countries. This may be the primary reason why it can be called “Home of Bitcoin”, but as soon as other countries follow its footstep, which is still in question of happening, the title would most likely be fought for and certain criteria will be set forth.

Not only El Salvador but i think Japan too is making bitcoin a legal tender too. Bitcoin is widely accepted as a currency in Japan. Hopefully, El Salvador will be considered a home for bitcoin since there are a lot of bitcoin users who are planning to migrate in El Salvador wherein they can make use of bitcoin freely whether to purchase goods or services or just keep it as a good source of investment. And what is making it a good news is the expectations that more countries will follow El Salvador's bitcoin path.

[bitzizzix]

Being the first country to accept Bitcoin as a legal currency, this put El Salvador on the light compared to other countries. This may be the primary reason why it can be called “Home of Bitcoin”, but as soon as other countries follow its footstep, which is still in question of happening, the title would most likely be fought for and certain criteria will be set forth.

Not only El Salvador but i think Japan too is making bitcoin a legal tender too. Bitcoin is widely accepted as a currency in Japan. Hopefully, El Salvador will be considered a home for bitcoin since there are a lot of bitcoin users who are planning to migrate in El Salvador wherein they can make use of bitcoin freely whether to purchase goods or services or just keep it as a good source of investment. And what is making it a good news is the expectations that more countries will follow El Salvador's bitcoin path.

I hope so too, and El Salvador may not be the only country making bitcoin legal tender this year and a bill proposed in Paraguay this week would make Paraguay the second country to accept bitcoin as a legal Payment, and be able to accept tuition payments with bitcoin.
and Tanzanian President Suluhu Hassan told the country's chief financial officer to set up cryptocurrency, and for now there will definitely be pros and cons to accepting bitcoin as a legal payment in every country, and as time goes on we don't know the progress.

[verita1]

It is obvious that we feel excitement since the country of El Salvador accepted bitcoin as a legal tender.
We have also noticed that other countries in Latin America have shown interest in following in his footsteps. But I think it will be something as spontaneous as what is happening with business owners and industries such as a Spanish Brewery called Cerex: 🇪🇸

Cerveceria Española uses cryptocurrey as a means of payment

The extrematuran brewery Cerex has integrated the option of paying in Bitcoin, Ether and USD Coin into its online shop.

https://www.europeworldnews.com/cerveceria-espanola-uses-cryptocurrencies-as-a-means-of-payment/

https://twitter.com/CervezaCerex/status/1410250234052108288?s=19

[DooMAD]

The way I understood it, things don't officially change until September, I believe.  That's when everyone would be compelled to accept BTC.

Well Japan has made Bitcoin as legal tender as well,

Japan accepted bitcoin as a legal way of payment not a legal tender. There is a small difference that someone explained to me recently but I still can't explain it myself

In Japan, anyone is free to choose whether they accept BTC as payment or not.  In El Salvador, the law will effectively mandate that you must accept BTC if you have the means to.  Also, any resident of El Salvador will be able to pay their taxes in BTC, which I'm not sure you can do in Japan.

[TimeTeller]

Being the first country to accept Bitcoin as a legal currency, this put El Salvador on the light compared to other countries. This may be the primary reason why it can be called “Home of Bitcoin”, but as soon as other countries follow its footstep, which is still in question of happening, the title would most likely be fought for and certain criteria will be set forth.

Not only El Salvador but i think Japan too is making bitcoin a legal tender too. Bitcoin is widely accepted as a currency in Japan. Hopefully, El Salvador will be considered a home for bitcoin since there are a lot of bitcoin users who are planning to migrate in El Salvador wherein they can make use of bitcoin freely whether to purchase goods or services or just keep it as a good source of investment. And what is making it a good news is the expectations that more countries will follow El Salvador's bitcoin path.

I hope so too, and El Salvador may not be the only country making bitcoin legal tender this year and a bill proposed in Paraguay this week would make Paraguay the second country to accept bitcoin as a legal Payment, and be able to accept tuition payments with bitcoin.
and Tanzanian President Suluhu Hassan told the country's chief financial officer to set up cryptocurrency, and for now there will definitely be pros and cons to accepting bitcoin as a legal payment in every country, and as time goes on we don't know the progress.

From the very beginning El Salvador announced to the world that it accepted Bitcoin as a legal tender, I believe many countries are starting
to pay attention to what El Salvador is doing. Finally my guess started to come true after several countries started to follow in El Salvador's
footsteps. As you mentioned Paraguay and Tanzanian have started accepting Bitcoin, this is a very good thing and hopefully as more countries
start accepting Bitcoin, it will push the Bitcoin price even higher.

If the implementation in El Salvador will show positive feedback from its citizens, I believe, other nearby countries will really follow their footsteps.
But it is too early to identify El Salvador as the "Home of Bitcoin", because we need also to clarify what entails to be recognized as such.
And it is good for the btc market if other countries will follow thru. That means more adoption and so it will influence the price of btc in the market.
In the next coming years, let's hope that there will be more countries that will openly accept crypto.

[famososMuertos]

Well to say that El Salvador is better than nothing is quite pejorative in case there were some special requirements of rank to be the first country to adopt bitcoin, come on! that according to the use of bitcoin in what it represents as a revolutionary idea, there is no better candidate than El Salvador, in fact it happened thanks to the revolutionary idea of a new leader with vision.

And in general, politicians who stop being political and want to have revolutionary thoughts and ideas are left alone, it is really not that easy for any country to make the decision of El Salvador, in that sense that 20 more countries like El Salvador adopt bitcoin, the Status Quo of the country that does it doesn't really matter.

[yohananaomi]

Being the first country to accept Bitcoin as a legal currency, this put El Salvador on the light compared to other countries. This may be the primary reason why it can be called “Home of Bitcoin”, but as soon as other countries follow its footstep, which is still in question of happening, the title would most likely be fought for and certain criteria will be set forth.

it is only natural to give a title to an institution especially a country that has made a good contribution to bitcoin so that it is given an unwritten title and becomes the talk of the crypto community as a "bitcoin house" which is appropriate and is no problem.

the contribution made by the state of elsavador is very commendable not only as a term but can indeed be used as a good example for other countries. because of this good example, if it transmits to other countries, then the crypto community is clearly lucky because the price of bitcoin will be able to increase amid prices that are indeed being corrected

[SaShiRaJaVu]

I think no. El Salvador may even abandon its bitcoin decision after a while. Because it has a very dangerous side. Countries like America, England cannot survive if they do not support bitcoin.

Why do you think El Salvador will abandon its decision and what is the dangerous side you are talking about, if they allow a pseudo transparency currency, the government could monitor every transaction made and most probably they will be providing their centralized wallet and why you think that US and UK cannot survive without Bitcoin. I just want to know your thoughts behind this statement.

[sapnu]

El Salvador is now the first country in the world to embrace Bitcoin as legal tender. This is good news for Bitcoin and cryptocurrency in general, because it increases mainstream adoption and demand like skyrocket. China's recent crackdown on Bitcoin, could force miners to move to other countries with a friendly stance towards it. El Salvador could see an increase in miner's interest as China and other restrictive countries lose luster in the world of crypto. Of course, the impact won't be that much because El Salvador is a third-world country. Yet, it's something better than nothing.

What are your thoughts? Do you think El Salvador will become the "Home of Bitcoin"? If not, why? Will other countries adopt Bitcoin as legal tender in the future? Or is it still too early to tell? Why do you think developed countries haven't done such a move yet? Your input will be greatly appreciated. Thanks.

Once El Salvador's involvement on bitcoin's become successful, considering that they are the first country that officially regulated the use of bitcoin and other crypto, there's a high chance that it will be declared as the first home of bitcoin. Actually, it is still too early to tell since El Salvador just recently gave life to their plan. Those other countries haven't tried doing the same thing yet because they are well aware of the risk they will meet once they commit on it. They are playing safe and now that El Salvador made a move, they can use it as a guinea pig to see if it is really effective on improving a country's economy.