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❕NEWS President of El Salvador announced free btc for all

CrazySher

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Now the President of El Salvador, announced that the all citizen of his country will get free Bitcoin of worth $30 for free from their govt. and this is just revolutionary move, which will make the crypto sector more strong.
 
Yes, I come to this news also, however this is not for all, but only for Adult residents of the country. El Salvador does not have any other currency, it is moving its USD into Bitcoin.
 
While this may sound good, their government has to first educate their people first and foremost about bitcoin, just giving them bitcoin without them having knowledge is kinda useless in some cases
 
I how coming with this free money is the much needed education for the people. Bitcoin use needs a little bit of technical know how than conventional currencies.
for the people who spends is there don't need any technical knowledge as far as I think. Only thing they will need to know, what is the current value of one bitcoin to that native currency.
 
@microunit @Niftyicon
You are unclear, what you want to say?
Should government of El Salvador spend extra money in name of 'Educating' people about Bitcoin, even when people in El Salvador are openly using Bitcoin?
I don't think it is any kind of incentives for education purpose. It is just like a bonus given to creating and account of Bitcoin wallet. In this way all people will create Bitcoin wallet, so it is the bonus given to expand the Bitcoins effect.
 
@microunit @Niftyicon
You are unclear, what you want to say?
Should government of El Salvador spend extra money in name of 'Educating' people about Bitcoin, even when people in El Salvador are openly using Bitcoin?
Yes, Education is one of the important things when using something, imagine the people being just given bitcoin without them having knowledge on how to use it and how it works, and probably eventually some of them might just ignore the free bitcoin given to them, Can guess that not all of them know much yet about bitcoin
 
Yes, Education is one of the important things when using something, imagine the people being just given bitcoin without them having knowledge on how to use it and how it works, and probably eventually some of them might just ignore the free bitcoin given to them, Can guess that not all of them know much yet about bitcoin
That is not important thing I as far as I understand. Even if we are using the local currency do you know any treacle deta aur what is the background ? We are simply using it as a legal tender.
 
That is not important thing I as far as I understand. Even if we are using the local currency do you know any treacle deta aur what is the background ? We are simply using it as a legal tender.
It will be though in the long term imo, like in my country, many people don't know how bitcoin relaly works but sitll use it, then they complain alot about transaction fees, and they question why the value of their bitcoin goes up and down, and also complains about transaction speed as they don't know anything about bitcoin , many of them dunno even what a wallet address is and they've already been scam many times because they don't know stuffs
 
@microunit Your comment still is not clear.
When El Salvadorians are already using Bitcoin, what is the meaning of "imagining" something uneducated in it?

@Razor1911 That is correct, however, El Salvador have no local currency, there people either use US dollar or Bitcoin.
 
@microunit Your comment still is not clear.
When El Salvadorians are already using Bitcoin, what is the meaning of "imagining" something uneducated in it?

@Razor1911 That is correct, however, El Salvador have no local currency, there people either use US dollar or Bitcoin.
Oh Really? I didn't know about this. I heard somewhere that they have the local currency called Solon or something.

So, that is the reason they have accepted Bitcoin, since they don't have their native currency.
 
for the people who spends is there don't need any technical knowledge as far as I think. Only thing they will need to know, what is the current value of one bitcoin to that native currency.
It is clear that many have embraced and are already using bitcoin before the adoption as a legal tender, however, I think there will still be that small percentage that either hasn't heard or had been skeptical about it and may need the enlightenment. Also, what about the illiterates?
 
It is clear that many have embraced and are already using bitcoin before the adoption as a legal tender, however, I think there will still be that small percentage that either hasn't heard or had been skeptical about it and may need the enlightenment. Also, what about the illiterates?
If you want to invest then , only you need knowledge about Bitcoin. But using it as a legal tender or as a currency, does not need any formal knowledge. Only thing is required is to how to operate the wallet.
 
I heard somewhere that they have the local currency called Solon or something.
That was Salvadoran colon, which was demonetised in the year 2001 and since then US Dollar is the only official currency till the new Bitcoin Law.

@Niftyicon That $30 in Bitcoin cannot be gained or used without knowledge itself; now there is no need to spend more for this.
 
Many Countries had that situation in the last 3 decades China one had that thing on them , but they worked hard and made that hype like thing never existed , passion is key to success .
 
The $30 is not really a big amount of money but just to encourage them and familiarise them to the use of bitcoin and the cryptocurrency market entirely.
 
The free bitcoin giveaway was aimed at encouraging people towards cryptocurrency adoption that is forth coming up in the country
 

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