Will El Salvador survive with making Bitcoin a legal tender ?

[Josemendez]

It is no longer news that the government if El Salvador has announced that from September 7 2021. News as seen in coinmarketcap has revealed that the international monetary fund are not happy with the decision and have made it clear that they won't give the country their support.

El Salvador have not relented as they are already making plans for bitcoin ATM.
What is your thoughts on this issue ?

 

[Dowenship]

It is no longer news that the government if El Salvador has announced that from September 7 2021. News as seen in coinmarketcap has revealed that the international monetary fund are not happy with the decision and have made it clear that they won't give the country their support.

El Salvador have not relented as they are already making plans for bitcoin ATM.
What is your thoughts on this issue ?

Wow, when the news came out, we all thought its a good one and a bullish mess to be precise but it seams bitcoin is going to be affected as long the international fund not supporting the move.

 

[Setfragil]

I do not think he will survive in making bitcoins a legal tender in his country do to the volatility nature of cryptocurrency. No one will want the $20 in his pockets yesterday to worth $8 the next day.

 

[Jlife]

Investing about 3 BTC in the El Salvador economy means that you are investing over 150,000 dollars in the economy of the El Salvador,it is something they can used to improve the economy and also give an opportunity for people to use it as a permission for permanent resident.

 

[FreshKaz11]

It is no longer news that the government if El Salvador has announced that from September 7 2021. News as seen in coinmarketcap has revealed that the international monetary fund are not happy with the decision and have made it clear that they won't give the country their support.

El Salvador have not relented as they are already making plans for bitcoin ATM.
What is your thoughts on this issue ?

El Salvador is the best and the era country if I must say,I really wish to be born and be living in that country right now,digital currency is the future the whole world we still accept it.

 

[Alexandoy]

I wonder why the president and high officials of that country would make a digital commodity its legal tender. Bitcoin fluctuates in prices so I wonder how the people could cope with a strange currency that today a bottle of milk costs 25 and tomorrow it will be 27 or maybe 24. It would be confusing with the prices of goods.

 

[Setho]

I think that it is a very good bet if you look at it. They have had a clear vision and when more countries start to use it it would clearly be of advantage to them.

 

[Kunkun]

I'm sure they have already thought about before making the decision in the first place so I'm sure they would be prepared so definitely they could survive that and hopefully more countries follow suit

 

[Trexxxy]

If anything the forex exchange of el Salvador will improve. The use of bitcoin in their country has opened up more ways and means to improve their country's economy.

 

[Dora Wi]

I wonder why the president and high officials of that country would make a digital commodity its legal tender. Bitcoin fluctuates in prices so I wonder how the people could cope with a strange currency that today a bottle of milk costs 25 and tomorrow it will be 27 or maybe 24. It would be confusing with the prices of goods.

The fact that they accepted it as a legal tender doesn't mean that it is exclusive, and from what I understand, prices will still be based on fiat money, people will just have the opportunity to pay with Bitcoin. The president of El Salvador says he thinks it will encourage investment and tourism, which would help the economy.

 

[Shigobad2020]

It is no longer news that the government if El Salvador has announced that from September 7 2021. News as seen in coinmarketcap has revealed that the international monetary fund are not happy with the decision and have made it clear that they won't give the country their support.

El Salvador have not relented as they are already making plans for bitcoin ATM.
What is your thoughts on this issue ?

That's a good development and that means crypto currency is going high and is spreading all over the world, creating an atm machine where people can transact and exchange bitcoin.

 

[Destinyfejiro]

It is no longer news that the government if El Salvador has announced that from September 7 2021. News as seen in coinmarketcap has revealed that the international monetary fund are not happy with the decision and have made it clear that they won't give the country their support.

El Salvador have not relented as they are already making plans for bitcoin ATM.
What is your thoughts on this issue ?

I think for them to make such a huge decision on making btc a legal tender they already have plans in place to tackle whatever obstacle may arise in the future concerning btc....cause it would be very wrong to have btc worth 100$ in the morning and the next day it worth is $30

 

[Setho]

I believe that before they had made such conclusion they must have studies the currency and believe that it is one that can take the economy to move forward.

 

[Senator]

The embrace of Bitcoin in mainstream economy of.most government of the world will meet some stiff opposition for the start. But with time all these opposition will give way

 

[Emmado]

well they have started embracing of cryptocurrency and I do not consider it as a bad decision because cryptocurrency might be one of the most reliable digital currency in the future, maybe they have seen the potential in cryptocurrency that is why.

 

[Chibson]

The name bitcoin is synonymous with cryptocurrency and I think that bitcoin has a lot of adoption and that alone makes it the best cryptocurrency.

 

[GoldenLady]

That's was a very risky gamble that the country took on, especially when other giants like China and US are at odds with cryptocurrency.

But if Bitcoin later becomes accepted worldwide officially, that will pay off greatly.

 

[Abezol21]

I think this is good news to all cripto investor. If more country can adopt and legalise this great invention,the better for world economy and poor citizen.

 

[Haveit]

Crypto currency is simply not just real money, it is a near money, you can't go to the market to buy some peas and pay bitcoin that has a lot of value.

 

[Niftyyem]

The president of El Salvador has remained adamant about going forward with his plans by bringing in bitcoin ATMs and even giving out some bitcoin to the people.