I'm listening in real time on the Twitter Spaces chat with over 22,000 people on it (biggest ever).
The El Salvadoran BTC Bill, which makes it legal tender and mandates BTC acceptance where ever technically possible has passed by a super majority of the Congress.
It passed by 62 votes for with 19 against (I think).
That is a huge super majority of the 84 member Congress.
It is 6 votes more than the President's party controls.
History in the making!!!!
Here is the Bill as passed.
Here is my deep dive analysis of this https://peakd.com/elsalvador/@apshamilton/el-salvador-and-btc-deep-dive-on-momentous-impacts
Please vote for my Hive witness. (KeyChain or HiveSigner)
Very nice. But to be honest, BTC is NOT usuable as legal Tender anymore right from a technical standpoint.
Hopefully they expand it to cryptocurrencies with Median tx costs of below 0,01$.
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They are using Lightning, which makes BTC usable for small transactions. Its free and fast (but a pain technically).
So cool to be listening in on Twitter as history is being made.
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Yes. The President spoke so amazingly about freedom and answered the people saying BTC is used by criminals so well.
okay, 194 more and we are done.
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You don't need all countries to do this.
In fact just one country making it legal tender means that BTC is a foreign currency in all other countries.
As more countries do this BTC will be a major international currency like USD or EUR.
dont need, but wont hurt either. this is only the first step and i would like this to go through global adoption.
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A major achievement for the cryptocurrency community!!
rehive.
Ecuador and Katar left the OPEC, especially Katar would be interesting since they want to go from Oil to Gas which offers stranded energy in form of methane flaring for bitcoin mining. But neither Katar nor Ecuador are regulatory open for Bitcoin. But laws can change I guess?
This is huge. I don't know why people don't get it yet.
I think many people thought it wouldn't happen, that the US would stop it somehow.
Now it has happened already, so quickly, the market is now starting to react.
But most people think "small, poor country, so what" and don't understand the massive tax, accounting and geopolitical implications.
It also creates a concentrated geographic market of 6.5 million BTC users, which is a very attractive business opportunity for any crypto related business.
It will take some time for the full implications to filter through to the market.
The value that will be saved is huge.
Small transactions can be enabled by platform like hive - fast and free. The btc will give confidence at the infrastructure level.