Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[Josemendez]

For some weeks now , the government of El Salvador have been making plans towards the adoption of bitcoin as a legal tender come September 7. To this effect , news gathered from beincrypto has revealed that the government of the country wants to develop a stable coin called Colón-Dollar. This was revealed through a video footage by Ibrajim and Yusuf Bukele , brothers to El Salvador president.
.what do you think about this ?

 

[BullyMaguire]

I hope that even after they create their own stable coin they won't limit the use of bitcoin or completely reject it because they already have their own

 

[Wisdom01]

Great one for the country developing a stable coin would still help in increasing their revenue from the crypto project they are into , and since they dont have a currency but making use of dollar , they could make use of this

 

[CyberPreNurse]

Binance has their own stable Coin, BUSD, so I think it is nice for El Salvador to have theirs too so that it would be very much easy for their citizens to swap BTC with it anytime they feel its price is going to drop.

 

[Wisdom01]

Binance has their own stable Coin, BUSD, so I think it is nice for El Salvador to have theirs too so that it would be very much easy for their citizens to swap BTC with it anytime they feel its price is going to drop.

Probably since the country once launched an exchange platform and rewards users some amount for registering on the platform , they could use this medium to set up a trading stable coin on the exchange platform

 

[CyberPreNurse]

Probably since the country once launched an exchange platform and rewards users some amount for registering on the platform , they could use this medium to set up a trading stable coin on the exchange platform

And many citizens there would not hesitate to trade as it is a project founded by their government, so it's a nice development actually.

 

[Wisdom01]

And many citizens there would not hesitate to trade as it is a project founded by their government, so it's a nice development actually.

Very true with the kind of double and many promotion the government is doing am sure that many citizen would actually love to trade the coin , also if they have certain trust in the government they wont hesitate to trade

 

[Wisdom01]

When they announced about the country's plans to start a massive adoption of bitcoin I knew that it was only a matter of time before they come up with their own crypto currency.

They are very serious about the adoption , that is the reason they are ready to make sure the adoption grow and creating their own crypto currency paves way for more crypto development in the country

 

[amgad100100]

Do they have a stable economy or the government just want to do it because they don't want to loss the circle of Crypto system out their control ?

 

[CyberPreNurse]

When they announced about the country's plans to start a massive adoption of bitcoin I knew that it was only a matter of time before they come up with their own crypto currency.

This one that is being discussed is their own stable coin, like the binance USD which their citizens can easily swap their coins to withthe price dropping.

 

[kaycee001]

Good move by the government of el Salvador. Launching its own coin will give citizens more options of trading and will also help in exchange of bitcoin that was formerly legalize by the government. I think this is very ok

 

[ElPaule]

For some weeks now , the government of El Salvador have been making plans towards the adoption of bitcoin as a legal tender come September 7. To this effect , news gathered from beincrypto has revealed that the government of the country wants to develop a stable coin called Colón-Dollar. This was revealed through a video footage by Ibrajim and Yusuf Bukele , brothers to El Salvador president.
.what do you think about this ?

This gives a sweet bitter taste, on the one hand I think a stable coin would circumvent many trade-offs of using a "normal" crypto as currency. on the other hand, that some dudes have been briefed about this activities smells like insider trading, where some well connected circles can early become active before the news spread around and invest here or there. I think the stable coin is good, how they do it is bad

 

[Josemendez]

This gives a sweet bitter taste, on the one hand I think a stable coin would circumvent many trade-offs of using a "normal" crypto as currency. on the other hand, that some dudes have been briefed about this activities smells like insider trading, where some well connected circles can early become active before the news spread around and invest here or there. I think the stable coin is good, how they do it is bad

I don't see anything wrong here. The stable coin have not been developed , the cryptocurrency trading is opened to everyone .

 

[Brain]

I don't think having their own stable coin will be much of a problem but that shouldn't bring any limitations with Bitcoin usage by them. Because a thing like this can bring conflict

 

[Josemendez]

I don't think having their own stable coin will be much of a problem but that shouldn't bring any limitations with Bitcoin usage by them. Because a thing like this can bring conflict

No , the stable coin won't affect bitcoin in any way because the stable coin is to be used to control the Volatility of bitcoin for some citizens who can't stand the dip

 

[Brain]

No , the stable coin won't affect bitcoin in any way because the stable coin is to be used to control the Volatility of bitcoin for some citizens who can't stand the dip

Okay then if that is the case then there's no issues. Was just thinking aloud if it was about limiting the usage of Bitcoin though . Well, it's always good to have alternative in place

 

[Razor1911]

Okay then if that is the case then there's no issues. Was just thinking aloud if it was about limiting the usage of Bitcoin though . Well, it's always good to have alternative in place

How it can limit the usage of Bitcoin afterall it is stable coin. It may compete with USD theter or BUSD. What most of the coins will not be affected with it.

 

[crypworld]

El Salvador is a small country and their stable coin will be used only by their citizens.

So it is necessary that they accept bitcoins as well.

 

[Yugocean]

El Salvador is a small country and their stable coin will be used only by their citizens.

So it is necessary that they accept bitcoins as well.

Bitcoin 8s already accepted by them, and this is the only country which is going to launch a crypto with stable value, time will tell if their stablecoin is stable with USD, or Bitcoin.

 

[Razor1911]

El Salvador is a small country and their stable coin will be used only by their citizens.

So it is necessary that they accept bitcoins as well.

Yes. They already accepted Bitcoin long ago. Now they are about to launch their own stable coin, but it will take time. Because, it is not easy for any coin to sustain that easily.