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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.

 

[Thewings]

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.

Anyway let's see for the best.

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.

Yes I'm hoping to that one day we will get some good news about Bitcoin by Indian government.

 

[Josemendez]

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.

Yeah. I strongly believe that such a day will come very soon that people will easily come to accept digital currency because of the features that it offers.

 

[CryptoStar19]

El Salvador is just the first. Law-makers in other South American countries have already made suggestions to the effect of creating similar proposals in their countries.

 

[Yugocean]

El Salvador is just the first. Law-makers in other South American countries have already made suggestions to the effect of creating similar proposals in their countries.

That is good, but what is "other South American countries"?
El Salvador is a North American country, is there some South country which recently legalized it?

 

[Thewings]

Yeah. I strongly believe that such a day will come very soon that people will easily come to accept digital currency because of the features that it offers.

Absolutely eagerly waiting and waiting for all of us will pay off and the good days of virtual currency will come and many people will be able to take advantage of it, then let's see how long it will be legalized in all countries

 

[Thewings]

El Salvador not only legalized Bitcoin, but they are also considering legalizing mining it in the wake of the Chinese crackdown on cryptos. They've fully embraced it.

Ohh it means some more things to come to know in future.

 

[CrazySher]

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.

Yes, that's a very positive news that a country adopting such digital coin like btc as legal currency of the country, and this also impacted a price jump in the btc.

 

[Kennysplash]

While other countries are investing in cryptocurrency to boost their economy, my country placed a ban on it. We still perform our trading activities despite the ban though.

 

[Razor1911]

While other countries are investing in cryptocurrency to boost their economy, my country placed a ban on it. We still perform our trading activities despite the ban though.

The bitcoin and all other crypto coins are highly sought by the investors. Even if the govt of many countries are pushing against it, investors are still able to find a way to invest in them.

 

[DashPiku]

The price of Bitcoin will go high, but El Salvador has taken a good step. But more country have to take such steps then only Bitcoin will go to highest price like before.

 

[Razor1911]

This is a good news to all bitcoin holder in El Salvador and worldwide. It is not new that cryptocurrency is taking over the whole world. With time I know many more countries will adopt the legalization of more cryptocurrency.

But the price movement is very conservative from last few days. Even bitcoin has tried many tines to trade over the 40000 level, but every time it was pushed vigorously. It means Sellers are heavy on the upside.

 

[microunit]

The resistance at 40k-41k prices are quite strong, I doubt we will get out of this price range soon, unless major cryptocurrency or bitcoin adoptations happens in more country as to what el salvador has started doing

 

[microunit]

It will be the greatest thing that as ever happened in the virtual currency ecosystem if the tier 1 countries follow suit. El Salvador making bitcoin a legal tender as a very bold step that is very rare .

Though it is not that easy, there is literally tons of stuff that a country must consider before adopting it, can also see that el salvador is already having troubles with it

 

[Yugocean]

There was nothing wrong in El Salvador accepting Bitcoin as Legal tender. El Salvador have no official currency of its own, it depends on USD as currency, so it was a wise decision to accept Bitcoin. While World Bank is controlled by USA.

 

[microunit]

I think the only problem is how they would deal with the volatility of bitcoin as that will heavily affect their economy, following the news that they are already having troubles due to the adoptation

 

[Wisdom01]

This is good but that part of free citizenship for bitcoin holders is it real if i may ask ? , because they are trying to improve the growth of their country in many areas too i think

 

[Yugocean]

@microunit How can you say that volatility of bitcoin will heavily affect their economy?
There is no trouble after adoption of Bitcoin.

@Wisdom01 Is there any paid Citizenship in El Salvador without Bitcoin?

 

[Wisdom01]

@microunit How can you say that volatility of bitcoin will heavily affect their economy?
There is no trouble after adoption of Bitcoin.

@Wisdom01 Is there any paid Citizenship in El Salvador without Bitcoin?

I think in your post you made mention that elsavador could give citizenship to bitcoin holders ,so i want to know if its real

 

[Yugocean]

I think in your post you made mention that elsavador could give citizenship to bitcoin holders ,so i want to know if its real

That is not about any paid or free citizenship.
El Salvador have no official currency, it has adopted Bitcoin as its official currency. It was in News that President Bukele has offered citizenship to those, who have invested in 3 Bitcoins.
However El Salvador is not a lucrative country, so nobody cares.

 

[microunit]

@microunit How can you say that volatility of bitcoin will heavily affect their economy?
There is no trouble after adoption of Bitcoin.

@Wisdom01 Is there any paid Citizenship in El Salvador without Bitcoin?

Volatility will always affect the economy, why do you tihnk that the governments are trying really hard to reduce volatility in their country, if there is heavy volatility the price of goods are also subject to volatility, the price of products will also change from time to time, the value of products and assets changes from time to time and economy will be unpredictable