EL SALVADOR FINDS WAY TO STAY ON THE NEWS ALL YEAR LONG
By now everyone in crypto should know where El Salvador is located. I knew it but I have to look and share the location with you. Size wise it is really small, so small it is smaller than the state of Massachusetts. The state I live in is way bigger than the country. It is cool to see that half of the country can go to the beach everyday. They have the Pacific ocean at their disposal.
El Salvador did something really smart last year. They adopted BTC as a legal currency next to the dollar. At first it may look risky, it is still risky but at the same time many great things will happen to them. You can see their neighbor countries are not so great to say the least but they took the initiative to be different.
Having crypto as legal tender offer great opportunistic arrangement. The country offers citizenship if you want to invest with crypto in mind. Having the ocean at your disposal is a tourist attraction. Indeed crypto made a match by the sandy beach for the country. Pandemic or not folks with crypto in mind travel to check how the country is pushing the envelope for crypto currency.
#Bukele mentioned other countries will follow. It would be a breath of fresh air if countries nearby adopt crypto and they form an alliance to serve each other. While I have El Salvador in mind, many states are doing the same for crypto. It seems the change is coming for crypto to change hands as quick as possible. Sometimes I wonder why take them so long.
Folks using crypto do not complain a bit, they want more. With crypto there is no such country in charge, people are in charge. If you look at the map quite a few countries like Panama really crypto friendly, Costa Rica and Nicaragua could well put crypto on their list.
That will bring a firecracker on their economy.
El Salvador has an advantage. US dollar is already a legal tender giving it another round to stay afloat.
2022 is testing the fragility of crypto for good. By now if everyday price is on your mind, the fear will catch you. So much can be done right now. I am waiting to see the countries that will join El Salvador, it will be a wake up call to bring more eyes where it should be.
Emotions are running high these days. This is the time crypto shine.
Keep vesting in you.
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Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
While it’s great to see some countries accept it. We are a long ways away from mass adoption.
If more Central American countries join El Salvador and make a common front, cryptocurrencies will take a great boost, I have also read which South American countries in particular Chile is thinking of converting to #BTC as a legal form of payment in the country, to me this means that we will continue to grow and many more will adopt it
seeing Belize on that map, makes me wish they would adopt BTC and Crypto.
I would move there in a heartbeat.
Belize is a quiet place and they speak English I guess.
Maybe it will push tourism to give them a lift.
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BEER.It was a wise decision by a head of state who loves to take risks and sees the future with a good outlook.
Now people starts seeing the effect of crypto.
It goes further than regular daily price.
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I agree, he is taking a chance on Bitcoin and the five year Bonds give him five years to be right. I think based on BIcoins 11 year history, it is a good risk.
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I reckon many countries are still patiently waiting to see the possible effects of adoption. Perhaps before the year runs out we would see more countries follow suite
I think more countries will join the party but still waiting.
I think crypto will have a hard time coming fast
with situation looming over its head.
!BEER
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I agree many countries are adopting this wait and see attitude. I hope that now the El Salvador Bitcoin Bonds are a reality and that hard currency will be flowing into the El Salvador Treasury, and the potential financial benefits become real benefits other countries will follow them. The interesting thing is that other countries don't have to follow everything El Salvador does, they could create Bitcoin Bond Funds alone. Soveregnity gives you options.
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BEER.Hey @empress-eremmy, here is a little bit of
BEERfrom @pouchon for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.I agree many countries are adopting this wait and see attitude. I hope that now the El Salvador Bitcoin Bonds are a reality and that hard currency will be flowing into the El Salvador Treasury, and the potential financial benefits become real benefits other countries will follow them. The interesting thing is that other countries don't have to follow everything El Salvador does, they could create Bitcoin Bond Funds alone. Soveregnity gives you options.
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I admire their President, the bold move to add bitcoin should provide big benefits, but will make them a target of those who benefit from the status quo. Historically much wealth is extracted from poor countries by banks and rich countries, its time to keep their wealth circulating in their country and accumulate capitol to finance a better future.
For the countries of Central America to continue doing what they have done in the past and and expect a different outcome, would be insanity. Only big changes, will result in big results. This is big.
I really like the outpouring of support and ingenuity from the cryptocommunity to ease mass adoption. The lessons learned here will make things easier for the next country.
El Salvador has to hold its head up and march forward. They will make mistakes and misteps, and may fall down, but they will be falling forward, moving forward, profressing towards a brighter future.
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Antifragility
The concept of antifragility is an important one, it goes back to the soundness of the initial concepts of cryptocurrency of cryptographically locked ledgers, a decentralized distributed ledger and fixed rate of minting a inflation, which balances the positive effects of token inflation on distribution, earns and decentralization against the negative effects of money printing observed in fiat based systems. I love this term. Your posts are filled with gems.
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