Will El Salvador reconsider their decisions to adopt bitcoin as a legal tender?

[Josemendez]

According to survey released by Disruptiva, a pollster affiliated with Francisco Gavidia University, 54% said that adopting bitcoin as a legal tender is something that is not right as it is like having a digital transformation bet.

As there is greater percentage of people that are not comfortable with bitcoin in El Salvador , do you think that it can cause the government of El Salvador to reconsider their stand on adoption of bitcoin as a legal tender , having created the country's wallet and distributed $30 worth of bitcoin to those who have downloaded the wallet ?

The international monetary fund on their own are not comfortable with these decisions.

 

[Chibson]

Well, government of most countries always go by the will of the people and of course, El Salvador will definitely do the same thing. but honestly I don't see them reconsidering the decision.

 

[Sotherefore]

The government of El Salvador might never reconsider the decision because they believe that when investing bitcoins in their country, it will help to boost the economy of El Salvador, they might never re consider it again.

 

[Alexandoy]

The government of El Salvador might never reconsider the decision because they believe that when investing bitcoins in their country, it will help to boost the economy of El Salvador, they might never re consider it again.

I think the decision to reconsider or not will depend on the effect of Bitcoin not only in the economy but in the actual usage of the people. If the majority of the people will exchange their Bitcoin for their currency because they do not want to use Bitcoin then the adoption of Bitcoin is useless.

 

[BrolySSJ]

I think that the decision that they made to accept it as a legal tender was actually a good one and that in the long run it will be to their benefit as well. Hopefully they stick with it in the future and this will cause a chain effect for other countries as well.

 

[Senator]

If this decision by the Elsavdo government is the popular choice of their citizens, there is nothing stopping them from going or continuing their plans and decisions on the matter as it is

 

[Kelly5]

If the country of elsavador feels introducing Bitcoin into their mainstream economy will help their economy, they don't need any body telling them to is good for their own people and economy do they?

 

[Emmy]

I don't think the government of El Salvador will accept bitcoin as a legal tender because people in the country do comfort with bitcoin. So, the adoption depends on the people of the country.

 

[Setho]

They have only recently adopted it and I believe that it would take time so that they get used to it and then make a decision to stick or dutch it .

 

[Funky]

Many countries in the world are turning their backs on bitcoin and crypto currency at large based on the criticism about rising crime in the market but sooner, hopefully this will resolve.

 

[Fizzy_boi]

Actually I haven't read anything about this el salvador at all but I definately believe with time alot of changes we happen in the world and people are going to give more credit to crypto currencies .

 

[Sotherefore]

I think the decision to reconsider or not will depend on the effect of Bitcoin not only in the economy but in the actual usage of the people. If the majority of the people will exchange their Bitcoin for their currency because they do not want to use Bitcoin then the adoption of Bitcoin is useless.

I don't think the adoption of bitcoins will be useless, they are just encouraging people to invest a certain amount of money about 100,000 dollars which equivalent to 3 btc, if you pay the government will BTC they will converted to dollars and invest in the economy.

 

[Bookwormlux]

They wouldn't reconsider their decision, but would surely make things in such a way that accepting Bitcoin as payment method would be completely optional.

 

[Setfragil]

Bitcoins can be accept as a legal tender but can never replace fiat currency in El Salvador due to the volatility nature of bitcoin as no one will want his or her $100 worth of money in bitcoin to reduce to $65 the next day.

 

[Bookwormlux]

El Salvador has started plans on how to develop their own stable coin and this, together with their own exchange wallet is a sign that they won't reconsider their decision.

 

[Lens]

I need to correct a notion, El Salvador has not distributed $30 worth of bitcoin to the people . It's a proposed project that is still undergoing scrutiny. I really do not think that Bukele will reverse his decision as he has addressed and answered all questions thrown at him by his critics

 

[Nomad]

The country has started using bitcoin as legal tender and according to news another south American country Paraguay is also considering to adopt bitcoin.

 

[Nurudeen]

El savador is a small country out the country fighting crypto currency exchange Business. So for me if El Salvador isn't careful they might regret using Bitcoin as a legal tender because US and China are doing their best to bring the coin down

 

[Chibson]

I don't think they will reconsider there decision because they have seen the potential of Bitcoin and cryptocurrency generally.

 

[Niftyyem]

Despite adopting it as a legal tender, it doesn't in any way stop the fiat currency from being used. So, if anyone feels uncomfortable with using Cryptocurrencies, then they can afford to steer clear.