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[SCAMEXPOSER]

El-Salvador has been in the right direction of their decision in the Crypto currency world, they are working to make the citizens feel comfortable with cryptocurrency. The country has partnered with U.S. company Athena to supply El Salvador's new crypto-based economy with 1500 Bitcoin ATMs. The plan was to invest more than $1 million to install cryptocurrency ATMs and also hire staff and operators. Already, Athena has two ATMs of this such in El Salvador being tested. They maintained that the drive for this move is to contribute to the development in the country

 

[Niftyicon]

This is surely a good step to take after taking the decision to adopt bitcoin as legal tender. The way there are ATMs for fiat, same should be applicable to bitcoin also.

 

[Razor1911]

This is surely a good step to take after taking the decision to adopt bitcoin as legal tender. The way there are ATMs for fiat, same should be applicable to bitcoin also.

Obviously a good step. But how come they are making the digital currency to be a physical one? Or they are providing the ATMs only for transactions only and not for withdrawing?

 

[SCAMEXPOSER]

This is surely a good step to take after taking the decision to adopt bitcoin as legal tender. The way there are ATMs for fiat, same should be applicable to bitcoin also.

Yeah probably the ATMs will configured such that people can swap the US dollars which is their legal tender to new legal tender bitcoin.

 

[Razor1911]

Yeah probably the ATMs will configured such that people can swap the US dollars which is their legal tender to new legal tender bitcoin.

Yes that is the only thing that we can offer with that. Because who is withdrawing the money also may be done in USD only. We cannot transfer the Bitcoin to hard cash

 

[SCAMEXPOSER]

Yes that is the only thing that we can offer with that. Because who is withdrawing the money also may be done in USD only. We cannot transfer the Bitcoin to hard cash

That's why I said the US dollars can't be eliminated the bitcoin legal tender in the country is just additional and more like their native Currency since the USD was also adopted.

 

[Razor1911]

That's why I said the US dollars can't be eliminated the bitcoin legal tender in the country is just additional and more like their native Currency since the USD was also adopted.

That means both the currency, Bitcoin and USD will work side by side. Also I don't think any country which has Its own currency will accept Bitcoin. Because that will ultimately hurt their own currency.

 

[SCAMEXPOSER]

That means both the currency, Bitcoin and USD will work side by side. Also I don't think any country which has Its own currency will accept Bitcoin. Because that will ultimately hurt their own currency.

I don't think it will in any way hurt the country's country because it will be individual choice to use either Bitcoin or their traditional Currency .

 

[Razor1911]

I don't think it will in any way hurt the country's country because it will be individual choice to use either Bitcoin or their traditional Currency .

Think in a larger way, suppose a country has 100 billion dollars of currency in circulation. And when they accept the Bitcoin, now their reserve will become 100 billion + Bitcoin. that means the money in circulation will increase and that is one cause of inflation.

 

[SCAMEXPOSER]

Think in a larger way, suppose a country has 100 billion dollars of currency in circulation. And when they accept the Bitcoin, now their reserve will become 100 billion + Bitcoin. that means the money in circulation will increase and that is one cause of inflation.

I am not sure if your theory stands because already the money in circulation will be the ones people interested in cryptocurrency will be swapping to Bitcoin, my opinion though.

 

[Wisdom01]

1500 bitcoin atm is really much and they are more involved in crypto currency , because they know they could get revenue from it and they keep developing. Good one from them

 

[Razor1911]

1500 bitcoin atm is really much and they are more involved in crypto currency , because they know they could get revenue from it and they keep developing. Good one from them

Yes it is actually a very good news for the Bitcoin market, and the market is anticipating it very positively. As you can see the market is 7% of today.

 

[Wisdom01]

Yes it is actually a very good news for the Bitcoin market, and the market is anticipating it very positively. As you can see the market is 7% of today.

Am suprised about that, because even on a Sunday the price is still rising rapidly and more positive movement would showcase in weekend because banks would have opened

 

[DashPiku]

Wow that is amazing. So now they can be able to deposit or withdraw their money and transfer it to Bitcoin hassle free. Many more countries should accept it and promote it like El Salvador.

 

[Razor1911]

Wow that is amazing. So now they can be able to deposit or withdraw their money and transfer it to Bitcoin hassle free. Many more countries should accept it and promote it like El Salvador.

Exit this is a good news for the crypto market specially for Bitcoin. I don't know any other crypto coin can make best use of this. I think more and more countries should now accepted after El Salvador.

 

[SCAMEXPOSER]

1500 bitcoin atm is really much and they are more involved in crypto currency , because they know they could get revenue from it and they keep developing. Good one from them

I don't know their population size and the nature of their economical activities but this number of ATMs has shown how determined they are towards making bitcoin work.

 

[Razor1911]

I don't know their population size and the nature of their economical activities but this number of ATMs has shown how determined they are towards making bitcoin work.

I am also be astonished as how fast their implementing. 1500 ATM that is also in such a short time is very commendable. I hope in future also their support Bitcoin like this.

 

[ElPaule]

unfortunately, Apple Pay nor Google Pay are supported in Central America, I think it would be amazing to have all the BTC based payments in your smart watch :) Anyway! Putting the ATMs there to give the people easy access to BTC for their green cash is the right step!

 

[SCAMEXPOSER]

unfortunately, Apple Pay nor Google Pay are supported in Central America, I think it would be amazing to have all the BTC based payments in your smart watch :) Anyway! Putting the ATMs there to give the people easy access to BTC for their green cash is the right step!

When I saw this update and read through I discovered that the country president and its officials are very determined to ensure smooth running of cryptocurrency transaction in the country.

 

[Razor1911]

When I saw this update and read through I discovered that the country president and its officials are very determined to ensure smooth running of cryptocurrency transaction in the country.

Yes by the implementation of such a big scale, is very much clear that they are very confident to allows citizens to use Bitcoin. And they have even order installation of ATMs which is another good development.