The People Speak: After El Salvador, How Long Until BTC Takes Over The World?
Here at Bitcoinist, we’re going to let the people speak. It’s been one week since the first country adopted bitcoin as legal tender and we’re already thinking about the hyperbitcoinization of the whole world. That’s enthusiasm for you. The fact that a sovereign country is exposed to bitcoin – the asset – in this way […]
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People from all over the world are planning on buying $30 worth of bitcoin to celebrate El Salvador making it legal tender.
The World Bank has refused to provide technical assistance to El Salvador in implementing bitcoin as legal tender. The bank cited bitcoin’s “environmental and transparency shortcomings” as the reason. World Bank Won’t Help El Salvador With Bitcoin Law The World Bank said on Wednesday it cannot help El Salvador implement the law making bitcoin legal tender. A World Bank spokesperson told Reuters, “We are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes,” elaborating: While the government did....
So, Bitcoin is legal tender in El Salvador. How did the experiment start? With fire and chaos. You could say that the implementation wasn’t the smoothest, but it’s advancing and people are learning. The narrative shifted from the remote beach town of El Zonte to the busy streets of San Salvador, but there’s action everywhere. […]
El Salvador is a small Central American country of just over 6 million people. It has a rich, indigenous cultural heritage and its capital, San Salvador, is one of the most iconic cities in the world. Indeed, it’s known as the landfall of Christopher Columbus in 1492. Besides its rich history, El Salvador is also known for being the first crypto-friendly country in the world. In fact, El Salvador was one of the first countries in the region to declare its intent to become a crypto nation. They’ve recently adopted Bitcoin as legal tender, kicking off what experts predict will be a string of....
What is happening in El Salvador will come to the rest of the world — and it seems that bitcoin changes everything.