Bitcoin: El Salvador makes cryptocurrency legal tender

[troubled soul]

https://www.bbc.com/news/world-latin-america-57398274

 

[JackAlabama]

The thing run its course as Saifeddeans Bitcoin Standard claims.

Personally I lost a bet here with some folks as I was betting on a small country being first but one located in Africa.
Well, the small backwater country proved accurate but it is in Latin America.

 

[Kol019201]

https://u.today/el-salvador-now-offers-permanent-residency-for-3-btc

 

[12345]

https://u.today/el-salvador-now-offers-permanent-residency-for-3-btc

hmm I wonder if it is aimed at young and cool crypto enthusiasts or criminals

 

[Allisgood]

Pros
-No tax on crypto. 5 years to citizenship (+ x years processing).
- passport not too shabby: Visa free to EU and U.K.
Cons
-Maybe not the safest place to live …

 

[i888]

The new president and the majority of the parliament are on the same boat/party with the same views, they say no to the past, no crime etc and they walk on this line, so big future for this small country. From shith* is going to be a paradise.

 

[Silvio]

El Salvador is a banana republic of 6 million people out of which 2.3 million live in the US, their biggest export is MS-13 gang members which rape and slaughter people with machetes

So clearly, this is good for Bitcoin

The new president and the majority of the parliament are on the same boat/party with the same views, they say no to the past, no crime etc and they walk on this line, so big future for this small country. From shith* is going to be a paradise.

Personally I don't see how making a magic chuck-e-cheese coin into a legal tender will turn a shithole country into a paradise

 

[Kol019201]

El Salvador is a banana republic of 6 million people out of which 2.3 million live in the US, their biggest export is MS-13 gang members which rape and slaughter people with machetes

So clearly, this is good for Bitcoin

If this move has a good impact on El Salvador other "shithole" countries could follow.
And that is good for bitcoin. If no country would ever take bitcoin as legal tender it would change nothing for bitcoin. If countries take bitcoin as legal tender it changes the global position and view of bitcoin.

 

[jjrapy]

If this move has a good impact on El Salvador other "shithole" countries could follow.
And that is good for bitcoin. If no country would ever take bitcoin as legal tender it would change nothing for bitcoin. If countries take bitcoin as legal tender it changes the global position and view of bitcoin.

As you say, other “shithole” countries don’t add up.
Maybe they will end up like Cuba just to be “cool” with crypto.
What strength does El Salvador and other third world countries have in global economic policies: none.
We just follow G8 or we’ll be isolated.

 

[Silvio]

If this move has a good impact on El Salvador other "shithole" countries could follow.
And that is good for bitcoin. If no country would ever take bitcoin as legal tender it would change nothing for bitcoin. If countries take bitcoin as legal tender it changes the global position and view of bitcoin.

For the 1000th time, it doesn't matter if anybody accepts Bitcoin or not, because nobody wants to pay with Bitcoin for anything. Everybody just to "HODL" it for speculation, or use it for crimes (money laundery \ bypassing currency controls).

For these purposes you don't need a government accepting it. All the creepto bros just hope that some country will start buying BTC and lift the price back up so they can sell and not remain holding the bag (as most of them do now)

Hilarious how big of a cult the creepto people are. A week ago they were all worshipping Elon, now Elon is the antichrist and Nayib Bukele is the new savior that is going to pump their favorite shitcoin to the moon...

 

[troubled soul]

For the 1000th time, it doesn't matter if anybody accepts Bitcoin or not, because nobody wants to pay with Bitcoin for anything. Everybody just to "HODL" it for speculation, or use it for crimes (money laundery \ bypassing currency controls).

For these purposes you don't need a government accepting it. All the creepto bros just hope that some country will start buying BTC and lift the price back up so they can sell and not remain holding the bag (as most of them do now)

Hilarious how big of a cult the creepto people are. A week ago they were all worshipping Elon, now Elon is the antichrist and Nayib Bukele is the new savior that is going to pump their favorite shitcoin to the moon...

True Real crypto user does not care about this.
So many country and banks does not like Crypto activities. Still people using Crypto without any problem .

 

[Dreamy]

This is mostly PR and hype. Think for yourself, an impoverished state, will payments with bitcoin with huge commissions make the life of citizens better? I don't think so. Most likely, the government just decided to play vabank and put everything on red. To attract, for example, various cyber criminals to launder their bitcoins there. This is all profit for the government. But for ordinary people it is unlikely.