It’s been barely 3 weeks since the country accepted bitcoin to be used as a legal tender. After the implementation, some citizens of El Salvador weren’t please with that decision. They protested and vandalized some of the bitcoin Chivo ATMs. Some sources say that the citizens weren’t please because the president was a dictator and was probably promoting bitcoin for personal gains and achievement. While the president has shown on social media that his intentions are clearly for the good of the citizens of El Salvador, the citizens think otherwise.
I personally was glad about the decision of making bitcoin a legal tender in the county, because am beginning to get frustrated and tired at the way other coins fall simultaneously with bitcoin. So at this moment am just hoping that we get to a point where Bitcoin’s dip doesn’t affect other coins dip, but for now the best I can do is just be happy for any good news regarding bitcoin. Because I don’t want other altcoins I have invested on, to dip because of Bitcoin’s bad news.
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Before the implementation of bitcoin as legal tender in El Salvador, the government promised its citizens that any citizen that registers with the country’s official bitcoin wallet app, Chivo, will get a $30 worth of free bitcoin. This was supposed to be an incentive to attract the citizens to register and use bitcoin. Few hours ago, the president of El Salvador, Nayib Bukele, made a tweet regarding the progress of Bitcoin’s implementation in the country. The president seemed please with the progress so far, he was proud to announce that 2.1 million people are using the country’s official bitcoin app, which is a big growth. No bank in El Salvador has that much user and they are hoping that it will have more users than all banks in the country combined.
This means that the country has spent $63 million worth of bitcoin to incentives the citizens.
While this on a normal should be considered a progress, I still don’t know how true it is, because the citizens don’t feel the same way. The actions of the citizens say differently from what the president claims it to be. Well I wouldn’t know because I don’t stay in El Salvador, but if it’s true, just as the president, then it’s a wild huge achievement to El Salvador and towards bitcoin and cryptocurrency in general. I believe with time other countries will be accepting other cryptocurrencies not just bitcoin.
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Pretty interesting watching a Nation adopt BTC.
Last bullrun, I was still excited when BTC got mentioned by any media outlet.. thinking of brand recognition.
Now everyone knows what it is and like everything else in the world some will love it some will hate it.
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But at the end the whole world will have to accept it. This is just a phase
Maybe, I think there will always be bitcoin friendly nations and those who want their own currency, .. The entire world doesn't agree that often.
Still it's use and acceptance is growing by the day and we are part of it.
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Glad it is. What A Time To Be Alive