44 countries will meet in El Salvador to discuss Bitcoin

[alisonwonder]

Good news in a market situation that is still red, this can make investors optimistic and of course will continue to buy, I'm sure more countries will immediately receive bitcoin as legal assets equivalent to other commodities, and some countries are currently open tender for Legalized Bitcoin.

Maybe many investors will take advantage of buying the dip because so far the market rarely crashes below $30k, I have also been waiting for the current dip price condition because maybe after it recovers there is no chance to buy it before the market is bullish.

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[m2017]

Good news in a market situation that is still red, this can make investors optimistic and of course will continue to buy, I'm sure more countries will immediately receive bitcoin as legal assets equivalent to other commodities, and some countries are currently open tender for Legalized Bitcoin.

This news alone can't change the mood of investors and change the bearish trend. This will take some time if the theory of bitcoin cycles is correct. Of course, this news will be included in the treasury of events that have a positive impact on the crypto industry, but the effect will most likely not appear immediately.

By the way, I would like to know the results of this meeting with representatives of 44 countries. What decisions ended their discussion?

[hd49728]

This news alone can't change the mood of investors and change the bearish trend. This will take some time if the theory of bitcoin cycles is correct. Of course, this news will be included in the treasury of events that have a positive impact on the crypto industry, but the effect will most likely not appear immediately.

Positive news in bull market will be big booster but positive news in bear market is like nothing. Nobody care to believe such news can change the bear trend. They only read and digest news like entertainment.

Positive news are helpful in bull market to make noise, attract investors and get new capital flow. Negative news in bear market are helpful for Market makers and who follow them. I believe if this meeting and news occur in 2021, it would result in massive blow off Bitcoin to the Moon.

[DdmrDdmr]

<...> By the way, I would like to know the results of this meeting with representatives of 44 countries. What decisions ended their discussion?

According to the event’s calendar, the event is still running today, although it may have a shorter agenda as often closing days do.

So far, the closest I’ve found in terms of details on the event can be seen in the news section of the AFI site. There are also three speeches in the corresponding section, that date back from the opening date (16/05/2022):

https://www.afi-global.org/newsroom_speeches/25th-dfswg-and-18th-smefwg-meetings-opening-remarks-by-afi-policy-programs-implementation-director-eliki-boletawa/

https://www-afi--global-org.translate.goog/newsroom_speeches/25th-dfswg-and-18th-smefwg-meetings-opening-remarks-by-banco-central-de-reserva-el-salvador-lic-douglas-rodriguez/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp

https://www-afi--global-org.translate.goog/newsroom_speeches/25th-dfswg-and-18th-smefwg-meetings-opening-remarks-by-miguel-kattan-secretary-of-commerce-and-investments-of-el-salvador/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp

Note, the latter two were in Spanish, so I added the GT links to them.

I left some further more extensive info in a couple of posts on the large El Salvador thread:
https://bitcointalk.org/index.php?topic=5342087.msg60173206#msg60173206
https://bitcointalk.org/index.php?topic=5342087.msg60173914#msg60173914

[Renampun]

...

Maybe many investors will take advantage of buying the dip because so far the market rarely crashes below $30k, I have also been waiting for the current dip price condition because maybe after it recovers there is no chance to buy it before the market is bullish.

investors who have more funds are sure to buy more bitcoins during a dip (a few days ago)...

after 2 weeks ago bitcoin price fell to $26k+, today bitcoin price corrected up to $30k+. This bitcoin price increase of course happened because investors bought more when the price fell (they took advantage of the opportunity), I think the news about the meeting that will be held in El Salvador (@OP) to discuss bitcoin is really good news.

[_BlackStar]

By the way, I would like to know the results of this meeting with representatives of 44 countries. What decisions ended their discussion?

We don't know the result yet, but maybe in the near future. But don't expect that the meeting will only discuss specifically about bitcoin because I think there are other interests that will be on the agenda of the meeting. It might be good to expect something spectacular to happen for bitcoin's future ^{[adoption in many small countries],} but there are stages that countries need to consider before adopting it.

I hope this will be a good fundamental for bitcoin in the near term so we can expect a price recovery. But what's great now about El Salvador is that they have become an important country to get more information about whether or not bitcoin adoption is good for a country's economy, especially regarding the financial system.

[Gyfts]

I find it quite interesting to see Egypt and Pakistan listed.

I don't know about Egypt, but I remember reading that the government of Pakistan was considering banning all Bitcoin and crypto-related transactions at the beginning of 2022. I am not sure how all that ended. Besides that, Pakistan is an Islamic nation that respects Sharia law. And according to Sharia law, crypto is forbidden. Anything that involves interest, gambling, and speculating is against the law. I am certainly not an expert on the subject, but I would be interested to hear what someone who is says about it. Muslim nations have a very traditionalist viewpoint and they don't deviate from what they consider to be values that must be maintained. 

The Middle East could incorporate crypto into their economies despite gambling being haram because the argument would be that crypto currency usage doesn't incur risk for profit. The interpretations of crypto currency's compliance to Sharia also depend on what scholar wants to opine on the matter, and that usually involves arbitrary interpretation of the Quran. I don't have any expertise on the matter, only looking at what some scholars have talked about. None of it makes any sense to me. Most muslims seem accepting of crypto currency, but not the theocrats that govern Islamic countries.

[Ale88]

It won't be a surprise if one or two of the countries of this list end up having Bitcoin as a legal tender in the near future.

That would be great, and I feel that out of those 44 countries maybe even more than just 1-2 countries could choose to adopt bitcoin as legal tender.

Reading those names, man, crème de la crème, I always say, better than nothing but seriously sometimes, it's a close call with this nothing.
Just some trivia, only three of those have a GDP per capita rank lower than 100, with Maldives managing to be the leading one with a rank of 65 in the world and with only 6 of them not in the UN food assistance program.

You do realize that we need to start somewhere, don't you? Or were you expecting to see countries like the US, England, France, etc to be the first ones to adopt bitcoin? I think it's even good that it's happening in Central-South America and Africa because it's easier to get a domino effect over there, there are less regulations than in the first world countries and if they want to do something, they just do. If we begin to have 3-4 countries next to each other accepting bitcoin, well, things will get very very interesting!

[goldkingcoiner]

This is a really good piece of news for Bitcoin and all Bitcoin hodlers. However, as optimistic as I want to be about this news, I doubt that a single meeting will convince any leader of an entire country to adopt Bitcoin as legal tender just yet. El Salvador has yet to show everyone their own specific use cases and adoption cases for Bitcoin. Simple hype is not going to be enough. Except perhaps for the marketing aspect of Bitcoin adoption.

I do think that El Salvador has benefitted a lot from making Bitcoin legal tender, however they could boast about their achievements a bit more. At this point it almost feels like their adoption of Bitcoin was nothing more than a short-lived hype (even though we know thats not true).

[uneng]

Not a good moment for this meeting.

hosting the meeting is not about the rise and fall of bitcoin volatility neither was it base on the fact that some make looses while others profit from it, no, they have to hold a meeting to deliberate solely about what bitcoin is, it role, and how they can maximize the opportunity in it to boost their economy, remember some discussions were better done in person, hosting a global meeting like this will as well encourages for more adoption, no one is looking at the experience that might have occured in the past but the major role bitcoin has come to in the global economy system.

Imagine you are selling a product and need customers, so you gather hundreds of people in a room to show your product with the final goal of convincing those people to buy it. In order to convince people, you need to show statistics, and practical experiences of those who have already used the product and the product being used live, before the eyes of the public.

That is what Bukele attempted to do, not because he is the owner of bitcoin, but because he has invested million of dollars of public funds on the cryptocurrency, and of course he wants positive returns from it for the good of his country's economy and for the good of his political career.

The issue is that right now he doesn't have positive results to show to the audience regards the practical adoption of bitcoin by El Salvador. Most citizens just grabbed 30$ in btc from Chivo wallet and exchanged it to dollar currency, without using bitcoin after that. Public investments in btc are heavily negative and the whole establishment turned against Bukele, what is really painful for a leader. So, how is he going to convince all those foreigners efficiently bitcoin going legal tender is a good idea on the present moment?

the event should count with the participation of more influent and productive countries

bitcoin has gone beyond showcasing, infact it is not to please anyone or entice any country because it is decentralized and it has made justification to what fiat couldn't do, which is privacy, anonymity and decentralization. if the developed countries are not seeing the opportunity then the developing ones could maximize such to help their citizens and boost the run of their economy.

Developing countries are well known for having corrupt leaders. Actually, citizens from these countries are usually in miserable financial and social situations because of the corruption of their leaders. I can't see how bitcoin being adopted by corrupt authorities would help those citizens. I can talk with property regards this matter, because I'm one citizen from a developing country and to say the truth I would feel unconfortable and suspicious if governors here developed interest for bitcoin.

Not that every tier 1 countries should participate the meeting, but the total lack of developed countries is really frustrating... I think balance is needed.

[Rigon]

Here's what the President of El Salvador recently said:

Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country.

In follow up tweets, he also named some of the actual institutions:

Banco Central de São Tomé e Príncipe
Banco Central del Paraguay
Banco Nacional de Angola
Bank of Ghana
Bank of Namibia
Bank of Uganda
Banque Centrale de la République de Guinée
Banque Centrale de Madagascar
Banque de la République d'Haiti
Banque de la République du Burundi
Central Bank of Eswatini
Ministry of Finance of Eswatini
Central Bank of Jordan
Central Bank of The Gambia
Comisión Nacional de Bancos y Seguros de Honduras
Direction Générale du Trésor, Ministère des Finances et du Budget, Madagascar
Maldives Monetary Authority
National Bank of Rwanda
Nepal Rastra Bank
Sacco Societies Regulatory Authority (SASRA) Kenya
State Bank of Pakistan
Superintendencia General de Entidades Financieras de Costa Rica
Superintendencia de la Economía Popular y Solidaria de Ecuador
Banco Central de El Salvador
Central Bank of Egypt
Central Bank of Jordan
Central Bank of Nigeria
Ministère de l'Economie, des Finances et du Plan du Sénégal
Superintendencia de Bancos de la República Dominicana
Banque Centrale de Mauritanie
Banque Centrale du Congo
Central Bank of Armenia
Bangladesh Bank

It won't be a surprise if one or two of the countries of this list end up having Bitcoin as a legal tender in the near future.

Wow these are really a lot of good news. All this news will bring a lot of benefits for Bitcoin.If 44 countries accept Bitcoin together and launch the facility, then of course Bitcoin will move to a very good position.But Bitcoin will one day bring benefits to everyone. Bitcoin will be introduced in every country. But that is not far off.

[Oshosondy]

Wow these are really a lot of good news. All this news will bring a lot of benefits for Bitcoin.If 44 countries accept Bitcoin together and launch the facility, then of course Bitcoin will move to a very good position.But Bitcoin will one day bring benefits to everyone. Bitcoin will be introduced in every country. But that is not far off.

Central banks and financial authorities from countries in Africa and Asia want to meet in El Salvador to discuss about several things, among are financial inclusion, digital economy, banking the unbanked, bitcoin rollout and its benefits in El Salvador. The OP title makes it look like it is majorly bitcoin they want to discuss about, but not. But if bitcoin is also discussed, probably some central banks might be convinced but I doubt that because most central banks prefer their local currencies. I hope the central banks and the financial authorities that will go for the meeting will soon realize how bitcoin can help their citizens during inflation.

[BitcoinPanther]

Maybe many investors will take advantage of buying the dip because so far the market rarely crashes below $30k, I have also been waiting for the current dip price condition because maybe after it recovers there is no chance to buy it before the market is bullish.

It isn't maybe, I am sure lots of investors are accumulating in this dip, taking advantage of a lower priced Bitcoin.

Central banks and financial authorities from countries in Africa and Asia want to meet in El Salvador to discuss about several things,

I am sure they are having this meeting to take advantage on how they will milk the cryptocurrency market.  When countries gather in a meeting like this, they always talk about stuffs on how their institution can take advantage on the laid concept.  If these institution come into agreement, we might see a massive adoption, thus creating a new waves of investors and may be a possible turning point of the BTC market.

[dikistutmazsabri]

We need to focus on how these talks will benefit bitcoin. If positive decisions are taken as a result of this meeting and the majority continues to have positive ideas about bitcoin, I think that this will be a factor in the rise of bitcoin and may cause a price increase. otherwise, the decline and negative opinion increases may continue.

[KennyR]

By third day of the Meeting representatives from different central banks have gathered in the Bitcoin beach and has shouted bitcoin. Nothing positive as we expected have come out of the meeting. Few central bank representatives have stated it isn't the way to discuss about bitcoin in such an environment. Anyhow soon we'll get to see what has happened out of the meeting.

[Hypnosis00]

It won't be a surprise if one or two of the countries of this list end up having Bitcoin as a legal tender in the near future.

No, not just two but many, that is what I see. It is just to see that many people are curious about crypto, especially for Bitcoin, the more they got into knowing how this work and the more they support this becoming a legal tender. Might not be too impressive to see what happens with Bitcoin adoption in El Salvador but this serves as a mirror to other countries that there is no wrong about trying. It was really hard to encourage people nor they can urge us especially if we don't understand it.

Well, I hope this meeting is successful and more countries have been encouraged to give support Bitcoin and to consider it as legal tender aside from fiat.

[kryptocanon]

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.

[Cookdata]

By third day of the Meeting representatives from different central banks have gathered in the Bitcoin beach and has shouted bitcoin. Nothing positive as we expected have come out of the meeting. Few central bank representatives have stated it isn't the way to discuss about bitcoin in such an environment. Anyhow soon we'll get to see what has happened out of the meeting.

It could be good news to speculators that they are having a meeting but ideally, it is of no benefit to bitcoiners, just a group of failed traditional banking systems who want to learn what the new model of bitcoin is and how it works. Not as if the representative has the final say to implement bitcoin, if the country still rules for or against the use of bitcoin, all of them there cannot do anything to change that, only the government in power has the power to do it. El Salvador is doing its best to spread crypto adoption and I love the energy and commitment they put into bitcoin. #Hodl.

[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.

[jostorres]

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.