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

[Bookwormlux]

El Salvador president is very much interested in Bitcoin and I do not think more criticism would make him reconsider his decision at all as he's already made it known to the parliament.

 

[Dowenship]

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.

I believe they know the risk involved before buying the idea of integrating bitcoin into the system and they know the fluctuation involved so i don't think so.

 

[Justin]

El Salvador has already made bitcoin legal tender. There are mixed reports about this, some say it is good and some are not happy with the government's decision.

 

[tyrim88]

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.

Most times it is in the best interest of the economy that the government of EL Salvador is putting out to benefit its citizens.And the government would have a control measure of the digital curency so that the volatility would not affect the citizens.

 

[Josemendez]

I believe they know the risk involved before buying the idea of integrating bitcoin into the system and they know the fluctuation involved so i don't think so.

I must say that I agree with you on this because they have continuously made plans that will ensure the smooth running of the bitcoin in the country

 

[kayode10]

I don't think they are going to reconsider their decision or making bitcoin a legal tender in the country. So far is facilitate easy transaction among the people there is no need to go back to the old style.

 

[Elfinito]

I think when there is a change of government in El Salvador there would be another review on the decision.
Bitcoin is good but making it a legal tender in a country is risky because the price is unpredictable

 

[Blessedsam60]

International monetary fund IMF will never be satisfied with this decision happening in el Salvador. Bit coin and other alt coins will surely pave way for global economic advancement

 

[Sotherefore]

International monetary fund IMF will never be satisfied with this decision happening in el Salvador. Bit coin and other alt coins will surely pave way for global economic advancement

Although I don't really know the function of the international monetary fund but why would they not be satisfied with the decision of the El Salvador ? El Salvador are making decision that will improve the economy of their country.

 

[Nomad]

El Salvador did not reconsider to use Bitcoin as a legal tender. IN fact, they are now investing heavily in Bitcoin mining. They are even using volcanic power to mine Bitcoin

 

[ahmedo24]

El Salvador did not reconsider to use Bitcoin as a legal tender. IN fact, they are now investing heavily in Bitcoin mining. They are even using volcanic power to mine Bitcoin

they adopted bitcoin as legal tender at the right time when the market was significantly down and now they are ripping from their Investments so I don't think they will consider it isn't in the future they will definitely plan for an unfortunate market.

 

[Thinker009]

Yeah I actually think they have legalised the use of it and they are really making the needed progress that would foster the development of crypto currency in the country and give way to more and vast adoption of the use of cryptocurrency

 

[Dagm1]

If the Elsavdo government's decision is the popular option of its residents, there is nothing prohibiting them from moving through with their plans and choices as is.

 

[Bookwormlux]

There is actually no need for them to ever think about reconsidering their decision since it is not imposed, but something the whole Congress agreed on.

 

[Sincerem]

There is actually no need for them to ever think about reconsidering their decision since it is not imposed, but something the whole Congress agreed on.

The only thing that might be affecting them presently is the volatility of bitcoins and the depreciation it has depreciated. Even with that they were still planning to buy more bitcoins .

 

[HayKay]

So far, they're the only country that have adopted Bitcoin as a legal means of payment. Getting users to download their wallet and distributing $30 worth is something amazing. I'm not sure they're backing down anytime soon.

 

[Prince]

In September 2021, El Salvador became the first country to make bitcoin legal tender, requiring all businesses to accept the cryptocurrency. In an attempt to popularize and regularize its use, the government gave citizens financial incentives to download a special cryptocurrency app.