[raiders72001]

Every adult citizen in El Salvador will receive $30 worth of bitcoin when they download and register the government’s cryptocurrency app, President Nayib Bukele announced late Thursday as he unveiled details on how the nation would become the first to make bitcoin legal tender.

https://www.forbes.com/sites/roberth...h=1eae8ddf109c

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Tremendous news.
Now all the El Salvadorian government has to do is get everyone $100 smart phones and internet access as well.

[solring]

I'd be concerned with any government-owned/coded app...

[Roger T. Bannon]

El Salvador will be the richest nation in the world. They will be laughing at everyone when they control China and the US.

[TheGoldenGoose]

people tracking gimmick because they'll need a cell phone

[raiders72001]

There are a lot of poor countries where people are unbanked in South America, Central America and Africa. Some in these countries do own cell phones. Cryptos are being introduced to many in the poorer countries. Cardano is trying to set up financial services for those in Africa.

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There are a lot of poor countries where people are unbanked in South America, Central America and Africa. Some in these countries do own cell phones. Cryptos are being introduced to many in the poorer countries. Cardano is trying to set up financial services for those in Africa.

Poor countries, exactly. No infrastructure, poor internet speed at high costs. The idea sounds nice at first but then people realize the issues many will have.
First off, learning to use a bitcoin wallet and transfer btc won't be easy, many won't have a clue.
Then there is the issue of requiring a connected device. What percent of the population has or can afford a pc or a phone connected to the internet?

I'd wager 99% of people that get this free bitcoin are gonna cash out asap, if they even know how or are able. Then we'll see how happy they are when the $30 is really only $27.

Bitcoin freaks love to use these shitty stories as fodder claiming bitcoin adoption is starting, well it isn't. The US gov't could easily crush the use of bitcoin by US citizens if they wanted to. Some shithole 3rd world country is using bitcoin? Changes nothing.

[raiders72001]

Poor countries, exactly. No infrastructure, poor internet speed at high costs. The idea sounds nice at first but then people realize the issues many will have.
First off, learning to use a bitcoin wallet and transfer btc won't be easy, many won't have a clue.
Then there is the issue of requiring a connected device. What percent of the population has or can afford a pc or a phone connected to the internet?

I'd wager 99% of people that get this free bitcoin are gonna cash out asap, if they even know how or are able. Then we'll see how happy they are when the $30 is really only $27.

Bitcoin freaks love to use these shitty stories as fodder claiming bitcoin adoption is starting, well it isn't. The US gov't could easily crush the use of bitcoin by US citizens if they wanted to. Some shithole 3rd world country is using bitcoin? Changes nothing.

Crypto-currencies aren't going away. It doesn't matter what the US gov't says.

[icon]

I'm not talking about crypto currencies as a whole, I know they are here to stay. I'm talking quite specifically about bitcoin.

And of course the US government could crush the use of bitcoin by its citizens. All they have to do is talk money laundering, terrorism etc and prohibit banks from any dealings with bitcoin and or bitcoin exchanges under the guise of national security.

Then people will still be free to use bitcoin but unable to convert to fiat. Those will be some hardcore bitcoiners.

[raiders72001]

I'm not talking about crypto currencies as a whole, I know they are here to stay. I'm talking quite specifically about bitcoin.

And of course the US government could crush the use of bitcoin by its citizens. All they have to do is talk money laundering, terrorism etc and prohibit banks from any dealings with bitcoin and or bitcoin exchanges under the guise of national security.

Then people will still be free to use bitcoin but unable to convert to fiat. Those will be some hardcore bitcoiners.

There's always some place in the world where bitcoin can be exchanged for fiat. Cardano's goal is to bank the unbanked. It doesn't matter to me if it's bitcoin, cardano or ethereum. In some countries bitcoin is the main crypto while in other countries it's a different crypto.

[raiders72001]

I'm not a bitcoin maximalist. Bitcoin will be a store of value since it's safe. Another coin will dominate point of sale when confirmations are close to instant. We just don't know which one yet.

[Roger T. Bannon]

Africa does not even use banks. They skipped right to money transfer systems. South America is a little more under the thumb of banks. They got in there early.

[raiders72001]

Bitcoin will not just be a companion currency to the U.S. dollar, but a cornerstone of the nation’s efforts to modernize and digitize its economy. Bukele wants El Salvador to become a bitcoin mining hub – potentially tapping into its rich geothermal resources – as well as a center for blockchain software development and a paradise for the crypto rich.“Why create this law? Because bitcoin has a $600 billion market capitalization globally, and if we do this, investors and tourists who own bitcoin will come to the country and benefit Salvadorans and the economy,” Bukele said at a national address on Thursday.

He’s making an attractive offer for outsiders and citizens alike by eliminating a capital gains tax on the cryptocurrency and building a state-backed wallet, which will come pre-loaded with $30 worth of BTC for adult citizens. The plan is a “leap forward for humanity,” not just Bitcoin, he told Peter McCormack when the podcaster traveled to El Salvador recently.


Although the nation’s plans are still being drafted, a series of interviews with Bitcoin startups and founders suggest that bitcoiners are ready to invest their time and money to help El Salvador (population 6.5 million) establish the first bitcoin standard.

https://www.coindesk.com/el-salvador-bitcoin-talent

[raiders72001]

Bitcoin Beach

Alongside the typical touristy surf-town sights of El Zonte, El Salvador, are garbage barrels emblazoned with the Bitcoin “B” and signs hanging over the door in dirt-floor restaurants that announce, “Bitcoin accepted here.” For the past two years, El Zonte—aka “Bitcoin Beach”— has been experimenting with the cryptocurrency, in the hopes of creating an economy that runs at least partially on Bitcoin. Now, the Salvadoran government wants to try this nationally.
El Zonte’s Bitcoin journey began in 2019, when ex-pat Michael Peterson received a proposition: A mysterious donor had a cache of Bitcoin—but instead of cashing out, he wanted to use it to create a Bitcoin circular economy. Though Peterson was thrilled by the challenging concept, it wasn’t until the pandemic hit and the town’s tourist economy crashed that others began to get on board. The project began by simply giving away $35-$50 worth of Bitcoin a month to 500 families in El Zonte. Soon enough, local businesses began to accept the cryptocurrency. Now, about 90 percent of households in the town interact with Bitcoin on a regular basis. These transactions are bolstered by an app, Strike, that makes it possible to send cheap international Bitcoin transfers—crucial for a country like El Salvador, which receives close to $6 billion a year in remittances from Salvadorans living in the U.S.

https://slate.com/technology/2021/06...lsalvador.html

[reallyhardtowin]

Nigeria in first place ! lmao
They are in first also for scamming