44 countries will meet in El Salvador to discuss Bitcoin

[JayJuanGee]

To bring this topic back to El Salvador, for various reasons including the fact that bitcoin is distinguished from the various other "crypto" projects including but not limited to shitcoins such as ethereum and binance coin (BNB), El Salvador has ONLY recognized bitcoin as legal tender.. and the reason seems to be that El Salvador recognizes and appreciates that bitcoin is distinguished from any other crypto projects, including those two shitcoins that you mentioned.   Sure, we cannot be sure if other countries might get caught up into various shitcoins, but so far it seems that El Salvador has not gotten caught up into promoting any other "crypto" besides bitcoin, even if it seems to have not necessarily made any of the shitcoins (including ethereum and/or binance coin or any other shitcoin) illegal in its jurisdiction.

The first thing that made El Salvador legalize bitcoin as a legal tender is its use case. Decentralization may be another reason and then they start thinking about how the country can benefit from it by buying or investing initiated by Bukele. It's not about altcoin although there really isn't a clear reason why it's banned or not in the country. The use of altcoin will certainly be a different topic of discussion about El Salvador and bitcoin being legalized, the main focus being bitcoin which allows them to save on remittance fees instead of using fiat and fiat centralized services.

I haven't been following their bitcoin adoption much so far but it seems like some time ago they were said to have failed due to lack of interest from the public. I don't know, they have done their best to give their citizens freedom to use money, the state supports a decentralized currency and every citizen may have a bank in their hands because of that.

I agree with everything that you outline here.. except I do not agree with any assertion that this kind of an adoption/initiative of bitcoin could be reasonably (or informatively) characterized as having had "failed" in any sense of the word with less than 1 year of having had gone into effect.. remember the actual law went into effect on September 7, 2021..

Furthermore, you indicated that the law gives citizens and residence of El Salvador more options.. whether they are actually in the country or transacting from outside of the country... If you, or any other member, wants to proclaim some kind of "failure" then you better come up with some data to support it, and I am not even saying that any of us need to agree with your data, but merely proclaiming that "failure" exists needs some kind of quantification and/or support for what is meant by that.. Sure it is possible to come up with various examples, such as 1) the chivo wallet had problems or 2) El Salvador is no longer offering a bitcoin bond, or 3) Only 10% or less (I am not sure about the number) of remittances have converted over to bitcoin from Western Union, or 4) on paper El Salvador is in the negative in terms of how much it spent on BTC versus how much the BTC are currently worth on the spot market, and/or 5) other examples of supposed failure or less than stellar success.. blah blah blah.. yet just coming up with a list of examples of less than stellar success is likely not going to be very convincing if there are not attempts to show various ways that adoption and awareness of bitcoin is increasing in the country (even if it is going at a rate that might well be slower than expected).

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[ShowOff]

I agree with everything that you outline here.. except I do not agree with any assertion that this kind of an adoption/initiative of bitcoin could be reasonably (or informatively) characterized as having had "failed" in any sense of the word with less than 1 year of having had gone into effect.. remember the actual law went into effect on September 7, 2021..

Furthermore, you indicated that the law gives citizens and residence of El Salvador more options.. whether they are actually in the country or transacting from outside of the country... If you, or any other member, wants to proclaim some kind of "failure" then you better come up with some data to support it, and I am not even saying that any of us need to agree with your data, but merely proclaiming that "failure" exists needs some kind of quantification and/or support for what is meant by that.. Sure it is possible to come up with various examples, such as 1) the chivo wallet had problems or 2) El Salvador is no longer offering a bitcoin bond, or 3) Only 10% or less (I am not sure about the number) of remittances have converted over to bitcoin from Western Union, or 4) on paper El Salvador is in the negative in terms of how much it spent on BTC versus how much the BTC are currently worth on the spot market, and/or 5) other examples of supposed failure or less than stellar success.. blah blah blah.. yet just coming up with a list of examples of less than stellar success is likely not going to be very convincing if there are not attempts to show various ways that adoption and awareness of bitcoin is increasing in the country (even if it is going at a rate that might well be slower than expected).

Ever since El Salvador announced that they had legalized bitcoin as a legal tender as well as a currency, I remember that I haven't once spoken about the failure of that adoption. I didn't imagine that it actually failed even though it was a failure talked about by several people on the forums. So if you say I said El Salvador is failing about its bitcoin adoption then I don't agree either. So I'm on the same side as you who might disagree if people assume that the adoption of bitcoin in El Salvador has failed to meet its goals.

At this stage I understand that El Salvador is not perfect in terms of careful preparation of bitcoin adoption plans. They were the first to state in law that bitcoin is legal as a currency and means of payment, their drawbacks are talked about but we cannot expect them to be perfect from the start. In contrast to later countries that also want to legalize and adopt bitcoin, they learn from El Salvador's imperfections so it may be slightly more likely to achieve a success percentage over El Salvador.

[JayJuanGee]

I agree with everything that you outline here.. except I do not agree with any assertion that this kind of an adoption/initiative of bitcoin could be reasonably (or informatively) characterized as having had "failed" in any sense of the word with less than 1 year of having had gone into effect.. remember the actual law went into effect on September 7, 2021..

Furthermore, you indicated that the law gives citizens and residence of El Salvador more options.. whether they are actually in the country or transacting from outside of the country... If you, or any other member, wants to proclaim some kind of "failure" then you better come up with some data to support it, and I am not even saying that any of us need to agree with your data, but merely proclaiming that "failure" exists needs some kind of quantification and/or support for what is meant by that.. Sure it is possible to come up with various examples, such as 1) the chivo wallet had problems or 2) El Salvador is no longer offering a bitcoin bond, or 3) Only 10% or less (I am not sure about the number) of remittances have converted over to bitcoin from Western Union, or 4) on paper El Salvador is in the negative in terms of how much it spent on BTC versus how much the BTC are currently worth on the spot market, and/or 5) other examples of supposed failure or less than stellar success.. blah blah blah.. yet just coming up with a list of examples of less than stellar success is likely not going to be very convincing if there are not attempts to show various ways that adoption and awareness of bitcoin is increasing in the country (even if it is going at a rate that might well be slower than expected).

Ever since El Salvador announced that they had legalized bitcoin as a legal tender as well as a currency, I remember that I haven't once spoken about the failure of that adoption. I didn't imagine that it actually failed even though it was a failure talked about by several people on the forums. So if you say I said El Salvador is failing about its bitcoin adoption then I don't agree either. So I'm on the same side as you who might disagree if people assume that the adoption of bitcoin in El Salvador has failed to meet its goals.

At this stage I understand that El Salvador is not perfect in terms of careful preparation of bitcoin adoption plans. They were the first to state in law that bitcoin is legal as a currency and means of payment, their drawbacks are talked about but we cannot expect them to be perfect from the start. In contrast to later countries that also want to legalize and adopt bitcoin, they learn from El Salvador's imperfections so it may be slightly more likely to achieve a success percentage over El Salvador.

For sure, I wanted to clarify since you did use the word failure, and even if you had been referring to how others seem to see the El Salvador adoption matter, the word failure was still used, so it seems good for us to clarify the matter and to go over what might constitute failure for anyone who might want to present the El Salvador adoption matter as a failure.  

There are forum threads on the topic and surely a decent number of naysayers in regards to El Salvador's bitcoin adoption - and surely it seems way too soon (premature) for them to have enough evidence to establish such a status even though some members do seem to either enjoy making those kinds of characterizations or citing lame mainstream articles that are making similar assertions about El Salvador's purported bitcoin adoption failure.

On a personal level, I do not mind allowing the facts take us where ever they might take us, so surely there should not be any problem attempting to either figure out various facts on the ground regarding what is happening in El Salvador and also to attempt to figure out if there might be either positive or negative developments in regards to how El Salvador's bitcoin adoption might be playing out.

[Jatiluhung]

in fact the actions of el salvador in legalizing bitcoin as a legal tender has opened the eyes of the world. has encouraged more people to dive into bitcoin and study it more deeply. The spark that el salvador has made actually has a wider positive impact on people who initially looked down on bitcoin. I say this because I am one of the people who know bitcoin since reading the news that went viral on social media about el salvador. and made me curious about bitcoin and a friend taught me a lesson about bitcoin. even some countries are starting to look secretly in studying more deeply about bitcoin. so there is no word fail for el salvador's action on the legality that he has applied to bitcoin as a legal tender in his country. because there is no real data showing the failure of El Salvador's actions to date. there are only excuses made up by anti bitcoins who always attribute el salvador's internal economic problems to bitcoin. although it has absolutely no clear connection.

[Bobrox]

in fact the actions of el salvador in legalizing bitcoin as a legal tender has opened the eyes of the world. has encouraged more people to dive into bitcoin and study it more deeply. The spark that el salvador has made actually has a wider positive impact on people who initially looked down on bitcoin. I say this because I am one of the people who know bitcoin since reading the news that went viral on social media about el salvador. and made me curious about bitcoin and a friend taught me a lesson about bitcoin. even some countries are starting to look secretly in studying more deeply about bitcoin. so there is no word fail for el salvador's action on the legality that he has applied to bitcoin as a legal tender in his country. because there is no real data showing the failure of El Salvador's actions to date. there are only excuses made up by anti bitcoins who always attribute el salvador's internal economic problems to bitcoin. although it has absolutely no clear connection.

In addition to bitcoin being a public conversation around the world, I think one of the positive impacts after bitcoin was legalized a lot of people talking about El Salvador. I myself don't know much about this country in the Americas, but when they successfully adopted bitcoin as a legal currency, I only learned about the country and the current president. It would be completely different if El Salvador didn't legalize bitcoin and I don't know anything about this part of the Americas. But there is a little less good impact when El Salvador legalizes bitcoin transactions, there is still no country that will follow El Salvador's footsteps to make bitcoin a legal transaction tool so far. Still need waiting few weeks, months or years later to see countries will use bitcoin as legal currency transaction payment.

[348Judah]

so it seems good for us to clarify the matter and to go over what might constitute failure for anyone who might want to present the El Salvador adoption matter as a failure.

they have no jurisdiction of any means in concluding that El-Savador is a failure, Nayib Bukele's decision together with the government officials to make bitcoin a legal tender is base on facts, they have planned, prepare enough resources and quite understand the pros and cons in bitcoin, they adopted it and there economy never got stucked by this decision since they have other sources to income generation, probably bitcoin adoption might be their "plan B" maybe when there's a bullrun and new ATH is set, but i will like everyone to respect the fact that El-Savador chose bitcoin adoption to use it as a currency and investment and they hold nobody explanation why, if others think right or wrong then they can as well decide theirs to either adopt or neglect.

there is still no country that will follow El Salvador's footsteps to make bitcoin a legal transaction tool so far. Still need waiting few weeks, months or years later to see countries will use bitcoin as legal currency transaction payment.

Central African Republic is another and they are working enormously on Sango bitcoin projects.

[tygeade]

in fact the actions of el salvador in legalizing bitcoin as a legal tender has opened the eyes of the world. has encouraged more people to dive into bitcoin and study it more deeply. The spark that el salvador has made actually has a wider positive impact on people who initially looked down on bitcoin. I say this because I am one of the people who know bitcoin since reading the news that went viral on social media about el salvador. and made me curious about bitcoin and a friend taught me a lesson about bitcoin. even some countries are starting to look secretly in studying more deeply about bitcoin. so there is no word fail for el salvador's action on the legality that he has applied to bitcoin as a legal tender in his country. because there is no real data showing the failure of El Salvador's actions to date. there are only excuses made up by anti bitcoins who always attribute el salvador's internal economic problems to bitcoin. although it has absolutely no clear connection.

I agree that even though there are people who dislike him for what he did, even in his own nation, he did something that is definitely improving the lives of his own people and he is investing the money he gets from taxes and that means it is going to be something that would benefit the whole world because more people will realize why something like that would be a great idea and that is a good thing.

I personally do enjoy it whenever there is a case to be made about "why should I go into bitcoin" and the more correct answers you have, the better it will be for everyone and that should be very good and very useful for when we have those type of discussions with people.

[Jatiluhung]

in fact the actions of el salvador in legalizing bitcoin as a legal tender has opened the eyes of the world. has encouraged more people to dive into bitcoin and study it more deeply. The spark that el salvador has made actually has a wider positive impact on people who initially looked down on bitcoin. I say this because I am one of the people who know bitcoin since reading the news that went viral on social media about el salvador. and made me curious about bitcoin and a friend taught me a lesson about bitcoin. even some countries are starting to look secretly in studying more deeply about bitcoin. so there is no word fail for el salvador's action on the legality that he has applied to bitcoin as a legal tender in his country. because there is no real data showing the failure of El Salvador's actions to date. there are only excuses made up by anti bitcoins who always attribute el salvador's internal economic problems to bitcoin. although it has absolutely no clear connection.

In addition to bitcoin being a public conversation around the world, I think one of the positive impacts after bitcoin was legalized a lot of people talking about El Salvador. I myself don't know much about this country in the Americas, but when they successfully adopted bitcoin as a legal currency, I only learned about the country and the current president. It would be completely different if El Salvador didn't legalize bitcoin and I don't know anything about this part of the Americas. But there is a little less good impact when El Salvador legalizes bitcoin transactions, there is still no country that will follow El Salvador's footsteps to make bitcoin a legal transaction tool so far. Still need waiting few weeks, months or years later to see countries will use bitcoin as legal currency transaction payment.

I even read that the adoption of bitcoin there has an impact on increasing the tourism sector there. in February reported an increase of about 30% and recently reported an increase again to reach about 82% (about 1.1 million visitors) . For reference many news that preach this. such as Cointelegraph and TribbunNews (trusted local news in the country now i working ).

I think that extraordinary thing would not have happened if El Salvador had not adopted bitcoin as a legal tender.

I even read from cointelegraph that several well-known bitcoiners visited there and some stayed there like Max Keizer and Stacey Herbert who also decided to live in El Salvador.

So if someone says that the increase in tourism visitors in el salvador is not related to the adoption of bitcoin in el salvador then I don't think people who talk like that don't understand what they are talking about. although there is a lot of fud news that covers up the good news related to el salvador. so it's a little hard to find.

[Flamous]

I just hope that the meeting comes out to be successful because every day seems to be financially tough for the country and its survival. I am sure that the countries meeting up would help El Salvador in a way that it is able to make effective use of the decentralised bitcoin while taking care of its citizen’s sentiments.

[arwin100]

I just hope that the meeting comes out to be successful because every day seems to be financially tough for the country and its survival. I am sure that the countries meeting up would help El Salvador in a way that it is able to make effective use of the decentralised bitcoin while taking care of its citizen’s sentiments.

Depends on the presentation given and I think since those countries are curious about the status happen to El Salvador to their adoption on bitcoin for sure they will get some good inputs there, But the one we hope here is hopefully it will convert into another series of adoption which country announce another legal tender of bitcoin to their country. If this happen for sure first world countries will raise their thoughts and maybe create good regulation towards bitcoin.

[Razmirraz]

in fact the actions of el salvador in legalizing bitcoin as a legal tender has opened the eyes of the world. has encouraged more people to dive into bitcoin and study it more deeply. The spark that el salvador has made actually has a wider positive impact on people who initially looked down on bitcoin. I say this because I am one of the people who know bitcoin since reading the news that went viral on social media about el salvador. and made me curious about bitcoin and a friend taught me a lesson about bitcoin. even some countries are starting to look secretly in studying more deeply about bitcoin. so there is no word fail for el salvador's action on the legality that he has applied to bitcoin as a legal tender in his country. because there is no real data showing the failure of El Salvador's actions to date. there are only excuses made up by anti bitcoins who always attribute el salvador's internal economic problems to bitcoin. although it has absolutely no clear connection.

Bitcoin has a mixed reputation around the world, using Bitcoin is legal in most countries. Bitcoin presence is accepted in some countries, and banned by others.
After the media competed to report the policies of the president of El Salvador after adopting bitcoin as a legal tender in his country, now several countries are starting to race to give Bitcoin the stage. El Salvador bold move has prompted several other Latin American leaders to indicate that they will follow in El Salvador footsteps. Obviously, the way El Salvador adopted Bitcoin has pushed other country's leaders to capture something positive in Bitcoin and El Salvador has gone a step further with some infrastructure built using Bitcoin profit.

Failure only crosses the minds of people who are afraid to make changes, everyone does not like failure. The mindset of failure can turn into fear that can hinder success, but that does not apply to Nayib Bukele, he dared to make a breakthrough that shocked the world. Now leaders of other countries are starting to come to El Salvador to learn from Nayib Bukele about Bitcoin management in the country. Of course we all hope that other countries can follow in El Salvador footsteps, with continued adoption from several other countries, will further bring Bitcoin to a better direction in the future.

[wmaurik]

I just hope that the meeting comes out to be successful because every day seems to be financially tough for the country and its survival. I am sure that the countries meeting up would help El Salvador in a way that it is able to make effective use of the decentralised bitcoin while taking care of its citizen’s sentiments.

In fact El Salvador is proud to host the 44 countries that it meets for the purpose of discussing Bitcoin. Because as the President of El Salvador Nayib Bukele mentioned that the 44 countries will discuss about the domestic launch of Bitcoin and its benefits. And because so far El Salvador has been successful in adopting Bitcoin for its country, I think there will be more countries willing to follow in El Salvador's footsteps in terms of adopting Bitcoin and I hope that will happen in the future.

[Imran232]

The best thing about this meeting is that Bangladesh Bank was also in it. That gives us little hope that our country is not ignoring it. They are actually learning about it and they are researching it as much as they can. So that means that, yeah, they might be thinking positively about it. So if they are thinking positively, then why not talk more about bitcoin in our country so that they can do their work a little faster? Though I don't care, when I saw my country's representative at this meeting, I felt very happy.

[lepbagong]

The name El-Salvador will never be omitted or forgotten in the history of Bitcoin for her bold move for being the first country to make Bitcoin a legal tender in the world. Up until now, it never stop paving ways for other countries and institutions.

It must be appreciated what the leaders of Elsavador have done by adopting bitcoin as a legal tender, because as a leader, they must always have a visionary mission to see the future that will happen.

Nayib Bukele, president of El Salvador has a far-sighted view, that bitcoin will be able to help the economy for his country. Although this action has been criticized a lot but as a leader who knows what will happen in the future with bitcoin, of course he will do it wisely and measuredly.

hopefully what elsavador is doing will continue to be followed by many other countries and will make bitcoin trusted and able to compete in the future, of course it is not easy to convince all parties of this.

They are first to make btc a legal tender but I don't think they have the ability to see the future. Like anyone else, they are only doing a prediction. They do have an experience on how to deal with stuffs when btc value declines or if there are other difficulties, aside from the advantages that btc can provide. This is what other countries wants to know on why they will go and do a meeting on El Salvador.

El salvador is having its own bitcoin city is also the best place for meetings related to bitcoins. As of now, there are two countries that have been added in the list to adopt btc as a legal tender. This is a good start. Other's can just follow soon once they are now ready.

indeed, there may still be many countries that have very measurable considerations not to be able to adopt as soon as possible as did the state of el savador. Of course, this is as their protection against what might have a bad impact on the further development of their country before they themselves are ready.
It is only natural that many consider this as best they can, and there is nothing wrong with continuing to research and learn from El Salvador by continuing to hold bilateral meetings to discuss bitcoin.

Incidentally el savador does have the capacity for that and is able to provide understanding for many countries who really want to know about bitcoin. so of course many hope that this will continue to transmit the positive side of bitcoin to other countries who really want to continue to learn. it's clear the impact on bitcoin's development will be seen in the future, and we'll see that.

[lucates]

If I were to be asked if this latest development is bullish or not, I can't say about it yet since they are only discussing about "Bitcoin" but never stated if it's going to be positive or not about it. But of course regardless of the outcome, Bitcoin will be "well-advertised and promoted" under any circumstances. Let's just see what happens after the meeting was finished whether if the price goes up, down or just simply treading water.

I agree because, regardless of the outcome, people are discussing. This is another big initiative to promote and encourage crypto users. Because discussion is a good opportunity to explore new things. And hope it will lead to the expansion of digital currencies worldwide.