While Everyone was Talking about El Salvador! We forgot about Guatemala

[elevates]

We all know El Salvador was the first country to officially accept Bitcoin as its legal tender. We do know the problems El Salvador has been facing after that, many here would not accept it but the truth cannot be suppressed. In the meantime, Guatemala which neighbors El Salvador has been busy adopting Bitcoin the right way.

Like El Salvador Bitcoin was never forced onto Guatemala. Their economy is far better than their neighborhood yet every local has shown an inclination toward Bitcoin. I was surprised when I saw it on Youtube. I came across this video which will prove that Bitcoin can only succeed in a country when everyone accepts it and knows its value through grass root penetration. I mean everyone here came together when someone recommended Bitcoin.

The Untold Secrets of Guatemala's Bitcoin Lake



  

[Artemis3]

And the truth is nobody was forced, the USD was not banned (unlike what happened in my country until 2019) and yet its legal tender nation wide, which is why El Salvador is in the headlines and not Guatemala.

Some people want to mix Bukele's other policies with Bitcoin for political reasons. I agree with Bukele, imprisoning all the gangs stopped the murders. Of course their economy is smaller, crime didn't let the country prosper since none of the other politicians did nothing about it. And those same politicians have political allies with the neighbors and they love saying crap against Bukele. Even the Colombian socialist buffoon did. Its mostly the Marxist parties with some others added to the mix.

But now El Salvador is growing, fast. You are just jealous your politicians have been too slow to adopt it as legal tender, which they should...
Otherwise investors will keep pouring to El Salvador first. And yes, there are people also adopting Bitcoin in regions of Honduras, without the blessing of the State... Everyone is repeating El Zonte, but they miss either a Bukele or a political party to support them.

El Salvador under Bukele led the way, and all you can do now is follow, and follow you should, or else you will simply miss it. And that's the truth, no matter what you say.

I'm glad some communities are adopting, just like how it started in El Zonte, but when are those dinosaur politicians move to declare it legal tender? Scared of what the IMF/WB would say? This is so the State doesn't get in the way. Yes people can do it without their blessing anyway, but why not step out of the way like El Salvador did?

In El Salvador, you don't have to use Chivo wallet ever. Its an option, not an obligation. If you want more focus to your country, move those dinosaur politicians in the right direction. Adopt Bitcoin NOW, pass a law and declare it legal tender. Or who knows, maybe Honduras will do it first...

[Jawhead999]

I thought it's new, but actually Guatemala already friendly with Bitcoin since the last year [1] but it's just underrated since the country is small and not accept Bitcoin as a legal tender, it's just similar with the other countries which accept Bitcoin as commodities and no have any rule about currency adoption. So these countries can use Bitcoin to buy anything ad long as the stores accept it.

[1] https://www.bloomberglinea.com/english/bitcoin-lake-guatemalas-crypto-enclave-launches/

[Ucy]

We all know El Salvador was the first country to officially accept Bitcoin as its legal tender. We do know the problems El Salvador has been facing after that, many here would not accept it but the truth cannot be suppressed. In the meantime, Guatemala which neighbors El Salvador has been busy adopting Bitcoin the right way.

Like El Salvador Bitcoin was never forced onto Guatemala. Their economy is far better than their neighborhood yet every local has shown an inclination toward Bitcoin. I was surprised when I saw it on YouTube. I came across this video which will prove that Bitcoin can only succeed in a country when everyone accepts it and knows its value through grass root penetration. I mean everyone here came together when someone recommended Bitcoin.
...
  

True Bitcoiners should be worried if everybody accepts Bitcoin.  It's a System/Currency of the free and people who desire freedom. Only few are really free while majority are in bondage.

Just consider it as a Freedom Ship in the high Sea that's always open to run away and freed slaves to come in. It does not force anyone to come in neither does it bend to the will of slave masters and their slaves.. It's voluntary system and has to be used properly,according to it's good ideals.

[Obari]

Yes I agree with you @OP because I also believe that Bitcoin can only succeed in a country that it is generally accepted rathen in countries that has mixed feelings towards it.
I think the wrong concept of Bitcoin is what is actually slowing the adoption of Bitcoin because basically most people see Bitcoin as a means of getting rich or a means of investment but rather the main concept of Bitcoin is to have a digital currency that helps fight against the monopoly of physical Fiat but just as a member of a forum said that the early adopter of Bitcoin were the ones that instilled the mindset of using the volatile nature of Bitcoin to comb in profit and ever since then, people are already trained towards such mindsets.
Let's fix this mindset and watch the global adoption of Bitcoin.

[Don Pedro Dinero]

I didn't know about Guatemala and I haven't seen anything about it in our local board (Spanish). I suppose we have no active member from Guatemala there. I would like to see the adoption of bitcoin spread to these countries, even with different legal forms, as the LATAM community is very large and can help its development. I think as soon as the price recovers a bit we will start to hear more about the use of bitcoin one way or another in those countries.

[tbct_mt2]

El Salvador is a first country makes Bitcoin legal tender and people more remember about El Salvador than other nations.

How about Central African Republic? It made Bitcoin legal tender about less than one year after El Salvador. People less discuss about that nation and I am not surprised to see they less discuss about Guatemala.

The trend is small nations and nations with financial social economic crises will more likely make Bitcoin legal tender first. However, they only make noise and big impacts would come from big nations which have yet been ready to do that.

[DdmrDdmr]

<…>   

Bitcoin Lake seems like a community centered project as per how it is depicted on their webpage, inspired on El Salvador’s Bitcoin Beach project, and seemingly small scale.

The most recent information I managed to find, from an official perspective, is gathered on the below referenced 2023 article, though based on a 2021 press release made by the Superintendence of Banks of Guatemala (kind of like their Central Bank I figure). The press release clearly states that cryptocurrency is not supported by the government of Guatemala, and although they may be looking into it at to some extent in the back scenes, it doesn’t seem to yet have the required political support, thus falling pretty short in comparison to El Salvador.

See (Google Translated):
https://republica-gt.translate.goog/finanzas/se-pueden-usar-la-criptomonedas-en-guatemala-tienen-respaldo-legal-en-el-pais--202313112520?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp
 

[stompix]

I didn't know about Guatemala and I haven't seen anything about it in our local board (Spanish). I suppose we have no active member from Guatemala there.

Do we have any members from Salvador?
I've never seen at least one post about a guy that was living there and telling his experience, all we got to date, or at least those I stumbled upon are stories from people who traveled there, which is not really giving the right perception.

How about Central African Republic? It made Bitcoin legal tender about less than one year after El Salvador. People less discuss about that nation and I am not surprised to see they less discuss about Guatemala.

Because they don't have a president that is active on Twitter with laser eyes posting BTC memes.
If you take that away from Salvador and start discussing numbers only it becomes just as boring as CAR or Guatemala or any other country.


 

[jayce]

[quote author=elevates link=topic=5444875.msg61911265#msg61911265 date=1678799939]
...
The Untold Secrets of Guatemala's Bitcoin Lake



[/quote]

I did literally read about Guatemala's Bitcoin Lake too on Bitcoin Magazine^[1]. It's about how they mine bitcoin with used cooking oil.



^{[1] https://bitcoinmagazine.com/culture/guatemala-town-mining-bitcoin-with-used-oil}



[quote author=Ucy link=topic=5444875.msg61911813#msg61911813 date=1678805038]
True Bitcoiners should be worried if everybody accepts Bitcoin.  It's a System/Currency of the free and people who desire freedom. Only few are really free while majority are in bondage.
...
[/quote]

The only thing we should worry is the tax that might be applied by the governments to our crypto assets especially bitcoin, as the main purpose of bitcoin is to get rid of that. And yeah, bitcoin and/or blockchain is a freedom, to those who get tired of banks and taxes.

[Artemis3]

I didn't know about Guatemala and I haven't seen anything about it in our local board (Spanish). I suppose we have no active member from Guatemala there. I would like to see the adoption of bitcoin spread to these countries, even with different legal forms, as the LATAM community is very large and can help its development. I think as soon as the price recovers a bit we will start to hear more about the use of bitcoin one way or another in those countries.

So you may not know about the Bitcoin island in Honduras either, interesting.

Oh yes, Bitcoin City in El Salvador is the only one that has (so far) promised no taxes except for VAT.

[cabron]

It's not in the news but it must make sense to see more El Salvador neighbors going to BTC as well. These countries are known to have been ruled by gangs as the media says. Nayib is very aware of it that's why he is also brutal to these gangs.

If Guatemala adopts BTC, then it spreads already after the announcement of El Salvador's success. It wouldn't be surprising if down to Nica and Columbia will also have markets adopting BTC. Or Chapo launching his own coin 

[Synchronice]

And the truth is nobody was forced, the USD was not banned (unlike what happened in my country until 2019) and yet its legal tender nation wide, which is why El Salvador is in the headlines and not Guatemala.

Some people want to mix Bukele's other policies with Bitcoin for political reasons. I agree with Bukele, imprisoning all the gangs stopped the murders. Of course their economy is smaller, crime didn't let the country prosper since none of the other politicians did nothing about it. And those same politicians have political allies with the neighbors and they love saying crap against Bukele. Even the Colombian socialist buffoon did. Its mostly the Marxist parties with some others added to the mix.

But now El Salvador is growing, fast. You are just jealous your politicians have been too slow to adopt it as legal tender, which they should...
Otherwise investors will keep pouring to El Salvador first. And yes, there are people also adopting Bitcoin in regions of Honduras, without the blessing of the State... Everyone is repeating El Zonte, but they miss either a Bukele or a political party to support them.

El Salvador under Bukele led the way, and all you can do now is follow, and follow you should, or else you will simply miss it. And that's the truth, no matter what you say.

I'm glad some communities are adopting, just like how it started in El Zonte, but when are those dinosaur politicians move to declare it legal tender? Scared of what the IMF/WB would say? This is so the State doesn't get in the way. Yes people can do it without their blessing anyway, but why not step out of the way like El Salvador did?

In El Salvador, you don't have to use Chivo wallet ever. Its an option, not an obligation. If you want more focus to your country, move those dinosaur politicians in the right direction. Adopt Bitcoin NOW, pass a law and declare it legal tender. Or who knows, maybe Honduras will do it first...

Are you from El Salvador? Bitcoin adoption and everything that happens around that country looks a little bit mystic for me.
At first I thought that one or some gangs have El Salvador government by balls and they pushed their president to adopt a bitcoin in order to easily launder money, do illegal activities and move without cash, easily with bitcoin.
Then I thought that maybe Bukele and people around him are corrupt too and in case they face sanctions from USA, etc, they will have zero problem because of bitcoin.
But, I frequently read that Bukele is doing well, crime is declining, people feel better, economy is slightly but going up, they are opening Bitcoin Embassy in the USA and so on.
Great, congrats!

[mirakal]

I thought it's new, but actually Guatemala already friendly with Bitcoin since the last year [1] but it's just underrated since the country is small and not accept Bitcoin as a legal tender, it's just similar with the other countries which accept Bitcoin as commodities and no have any rule about currency adoption. So these countries can use Bitcoin to buy anything ad long as the stores accept it.

[1] https://www.bloomberglinea.com/english/bitcoin-lake-guatemalas-crypto-enclave-launches/

Yes, totally makes sense why Guatemala has not been in the news because they are not a legal tender and just a bitcoin-friendly country like any other countries now unlike El Salvador which made a risky move to be the first, hence why news are focused on them because almost every country are observing El Salvador's ups and down. And now, the Central African Republic (CAR) has been following Bukele and El Salvador's lead to lift their country from the slum.

[avikz]

I am glad the Guatemala is not forcing the adoption but trying to pitch it to the people to experience the benefits. Every big change usually has a very humble beginning. That's what is happening there.

I do not want to completely bash El-Salvador either. Because the efforts their government has taken for bitcoin adoption is commendable. New things usually faces resistance. But still the Bukele government managed it properly and now enjoying their independence from US dollar.

[famososMuertos]

El Salvador, is a country that, first of all, has for better or for worse, read again, that is, for positive or negative results, a Leader,a President who likes bitcoin, that situation doesn't exist in any other country.

Come on!, to Latin American countries, The dollar was imposed on them, is it that simple, as a monetary dependency for payments, taxes, etc.

Peoples were forced to use the dollar at Latin America. which is the heart of the matter. Several countries have their respective legal currencies, but although the dollar is not the official currency in many countries, it flows at a parallel currency rate.

So do not come with stories of impositions, if you do not know how "cobre/plata/billete" moves through the region.

Educate yourself well about the countries of the region, especially El Salvador and Central America, nowadays is an myth to think that, because you do not live in a region, you cannot know the country situation well.

But the issue is that some confuse reading an article and five minutes of information, then to they already pretend be experts.

...But still the Bukele government managed it properly and now enjoying their independence from US dollar.

No! there is no such independence.
So, it is the goal in the importance, hence, yes!,  bitcoin exists as a legal currency, but this does not imply independence. At least not now.
__
Finally, the matter should not refer to a country specifically when talking about bitcoin, since it circulates as a parallel currency in many countries (in the dark, in legality, in legal vacuums, etc. call it what you want, but circulate, flow bitcoin.)

And! that is happening and it is not necessary to put borders or the name of a specific country.

[jossiel]

I came across this video which will prove that Bitcoin can only succeed in a country when everyone accepts it and knows its value through grass root penetration. I mean everyone here came together when someone recommended Bitcoin.

Let us not forget that the grassroots of bitcoin has been totally bad for most countries. And having that perspective of everyone knows bitcoin is fairly low to be seen since most countries aren't open with bitcoin adoption.

But the let us acknowledge the countries that despite they didn't adopt bitcoin as a legal tender and doesn't have something to say, at least they don't restrict and forbidden their citizens to use and invest in bitcoin.

It's unlikely to see that everyone will adopt bitcoin but I guess, that being in a country that the majority is aware of bitcoin says a lot from that country. But ask them if they've got bitcoin holdings might be a different topic to discuss.

[Godday]

I have read the article.  Guatemala does not reject BTC but they also do not use BTC as a medium of exchange in their country.  This is just like any other country that doesn't ban BTC and accepts them as a digital asset.  I see what happened in Guatemala the same as in Indonesia where all crypto assets are legal but cannot be used as a medium of exchange.

[Vaskiy]

Even in El Salvador the adoption isn't forced. People were given choice of their own to use bitcoin. Based on different statistics it is known that around 25% to 35% is using bitcoin. We don't know what exactly is the reality in El Salvador.

Guatemala might be correcting themselves with things planned better than El Salvador. Maybe initially they're trying to educate people and further implement the adoption of bitcoin which didn't happen in El Salvador.

El Salvador fastened the process and once after the implementation it started educating the people about the usage and how good this to the economy.

Oppositions will be part of governance and we were able to see it in El Salvador, because bitcoin adoption is just a small part. Apart from this he had did lot of reforms that have made El Salvador high in different things.

[PX-Z]

The only thing we should worry is the tax that might be applied by the governments to our crypto assets especially bitcoin, as the main purpose of bitcoin is to get rid of that.

Not a bit problem though, but i assume that it won't be huge and only taxed when buying commodities/services the same as what fiat did, but if not then its really the case and will be a future problem too.