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[Yugocean]

The El Salvador Parliament has voted in favors of Bitcoin to make it legal tender. Last week El Salvador President Nayib Bukele joined the Bitcoin conference 2021 via video conference; there Bukele announced to legalize bitcoin technology.

Bukele honored his promise and send the Bill to Parliament, which was passed today by 62 votes in the 84 member assembly; this made Bitcoin a legal tender in the country.

Now Bitcoin holders can get El Salvador citizenship if they try. El Salvador is not a Tax heaven, but it may become a Bitcoin heaven after becoming the first country to lawfully legalize Bitcoin.

Limit - This rule is not for all types of cryptocurrencies, so shitcoin holders may not enjoy the same as Bitcoin.

 

[Brain]

Bitcoin going places as expected. Oh wow this is good news to the. Crypto currency world. It shows the level of acceptance of Bitcoin by some countries. This sounds great already

 

[highspeed]

I see, I also read this news just a little while ago.
But despite this admission of cryptocurrencies by the state of El Salvador, however is expected a sharp decline for Bitcoin, even to $ 20K!
Indeed, the news article I read, sadly doesn't expect good news for investors!

I'm sorry my friend @Yugocean, may I ask you where do you read this news?

 

[Yugocean]

despite this admission of cryptocurrencies by the state of El Salvador, however is expected a sharp decline for Bitcoin, even to $ 20K!

What do you mean by this? Bitcoin is still above $36k, since the news yesterday, Bitcoin gained more than 7% in a day.
For proof -

By the way, market price does not depends on one country.

I'm sorry my friend @Yugocean, may I ask you where do you read this news?

From El Salvador's official news and announcements, from Bitcoin and Crypto information.
Proof (retweeted by El Salvador President -

 

[highspeed]

What do you mean by this? Bitcoin is still above $36k, since the news yesterday, Bitcoin gained more than 7% in a day.
For proof -
View attachment 177353
By the way, market price does not depends on one country.



From El Salvador's official news and announcements, from Bitcoin and Crypto information.
Proof (retweeted by El Salvador President -
View attachment 177354

I'm sorry, maybe I didn't express myself well. From what I have read, there is not much optimism for now about the near future of Bitcoin, which some assume it could drop to $ 20,000.

I, on the other hand, read from google-news, argument: Bitcoin.

 

[Yugocean]

I'm sorry, maybe I didn't express myself well. From what I have read, there is not much optimism for now about the near future of Bitcoin, which some assume it could drop to $ 20,000.

I, on the other hand, read from google-news, argument: Bitcoin.

I got it, this is simple but somewhat actual information; due to high transaction fees, most of users are not using bitcoin for transaction, if it remain out of market, then surely its market value will drop till fees become affordable (like at 20k).
There are other possibilities too, bitcoin holders can invest in other new cryptos for liquidity, this may help Bitcoin.

 

[Niftyicon]

Approving and declaring bitcoin as a legal tender shows the level of believe the government has on bitcoin. I hope this goes a long way to give positive effects on the country.

 

[highspeed]

I got it, this is simple but somewhat actual information; due to high transaction fees, most of users are not using bitcoin for transaction, if it remain out of market, then surely its market value will drop till fees become affordable (like at 20k).
There are other possibilities too, bitcoin holders can invest in other new cryptos for liquidity, this may help Bitcoin.

Exactly my friend, that's the point, thank you. ? ?
However, it seems to me that the transaction fees are too high, also for Ethereum, if I'm not mistaken.

 

[Yugocean]

Ethereum or any other crypto is not accepted by El Salvador, this is out of question; also nobody will invest where transaction fees is too high.

 

[highspeed]

Ethereum or any other crypto is not accepted by El Salvador, this is out of question; also nobody will invest where transaction fees is too high.

On the part that you said, sorry but I didn't get it well. As on the second part, that is obvious. Thank you for explanation.

 

[Yugocean]

On the part that you said, sorry but I didn't get it well. As on the second part, that is obvious. Thank you for explanation.

On that part you said about Ethereum Fess, this is not part of this topic. That should be discussed there.

El Salvador government only accepted Bitcoin, no other cryptocurrency is mentioned there; however their regional wallet might deal with others.

 

[AudraMiller]

It is great to see that they have legalized cryptocurrency, especially bitcoin, and i hope that this can be a lesson or rather an example that is set for other countries to follow in their footsteps as well.

 

[Yugocean]

Mayor of Miami, US is also supporting this, but his authority is of a Mayor, not President. El Salvador has started gaining name and fame, despite being less known to many people.

 

[AudraMiller]

Mayor of Miami, US is also supporting this, but his authority is of a Mayor, not President. El Salvador has started gaining name and fame, despite being less known to many people.

It is still a great thing to have a mayor support it in the country of america, because if there are more mayors that start to do so then it will make for a more compelling case for the government to take it under consideration.

 

[Josemendez]

Only few persons and countries have been able to make full research on the bitcoin investment and have been able to see future in it. The rest judge it based on what people say

 

[Thewings]

It is still a great thing to have a mayor support it in the country of america, because if there are more mayors that start to do so then it will make for a more compelling case for the government to take it under consideration.

A day will come when many countries will support along with America and in this way a new revolution will come in the world of virtual currency and all the investors who are there will benefit from it, along with it will also become much easier in transactions and getting legalized. So many problems will be solved on their own.

 

[AudraMiller]

A day will come when many countries will support along with America and in this way a new revolution will come in the world of virtual currency and all the investors who are there will benefit from it, along with it will also become much easier in transactions and getting legalized. So many problems will be solved on their own.

This is true in terms of soon many other countries will be on that way as well, however i don't think that investors would grow in that time. If it is regulated then it could be the case that the people will stop investing in the coin as it is no longer decentralized.

 

[Thewings]

This is true in terms of soon many other countries will be on that way as well, however i don't think that investors would grow in that time. If it is regulated then it could be the case that the people will stop investing in the coin as it is no longer decentralized.

Yes I agree with you and hope many investors looking forward to get more engaged into virtual currency. I wish my country also Will do something .

 

[AudraMiller]

Yes I agree with you and hope many investors looking forward to get more engaged into virtual currency. I wish my country also Will do something .

For many countries, they currently do not have a firm stance on bitcoin and other cryptocurrency which is a very good thing because it shows that it is under consideration or that they are not opposed to it. That is how it is in my country currently.

 

[Yugocean]

Most of the countries are reluctant, because governments of those countries do not understand bitcoin. Accepting Bitcoin as legal tender is not going to harm, Indian government is also slowly changing its stand, there was news that now government has no plan to ban crypto but it may plan to accept it.