El Salvador’s Biggest Bitcoin Critics Make Embarrassing Public Statements
A pair of high-ranking officials in El Salvador’s ruling party, Nuevas Ideas, took aim at critics who stand in opposition to the country’s forthcoming Bitcoin legal tender law on Tuesday.A pair of high-ranking officials in El Salvador’s ruling party, Nuevas Ideas, took aim at critics who stand in opposition to the country’s forthcoming Bitcoin legal tender law on Tuesday. In what appears to be one of the first public pushes to counter critics by the administration, the deputy of the party, Christian Guevara pointed out the ignorance of the opposition’s knowledge of Bitcoin basics, Diario....
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The struggles associated with turning Bitcoin into El Salvador’s legal tender has not been easy. There’s a general state of uncertainty in the nation with street protests, arrests of critics by police with no charge, and reprimands from international bodies. These difficult issues have thwarted the setting within the last 90 days from the time […]
The adoption of Bitcoin is changing El Salvador’s economic landscape, according to the Salvadoran president. On Thursday, Salvadoran President Nayib Bukele reaffirmed his belief for Bitcoin (BTC) supremacy on Twitter once again, this time stating that after widespread adoption occurs, “it’s game over for fiat.”The Salvadoran president has been a mainstay in news headlines due to his government’s regular BTC purchases and absolute pro-Bitcoin stance. He has made frequent statements and comments to support the original cryptocurrency while refusing to budge in the face of criticism that....
El Salvador’s Bitcoin Law will come into effect on September 7, 2021. As the country moves into fully embracing BTC as legal tender, opposition from critics, international financial entities, and others rise. A recently published survey, conducted by the University Institute of Public Opinion (IudopUCA), claims that 7 out of every 10 Salvadorians believe the […]
How embarrassing! As more details about JPMorgan ’s “The Bitcoinization of El Salvador” report come to light, the reality of the situation settles. Traditional organizations don’t have a clue that the Lightning Network exists and is up and running. More so, Bitcoin is legal tender in El Salvador because and only because El Zonte is […]
Wu Zhengfu, a top-level official in the People's Bank of China, has made a public announcement that April Fools day jokes are now officially banned in the country. A formal statement, now released on the PBoC website, states that "at this stage, all public informational and media institutions must not make statements of fraudulent comedy, directly or indirectly, on the day of April 1, nor act as a platform for individuals to write such statements, nor hyperlink to such statements, nor use April 1 as the day for whimsical announcements". According to Zhengfu, the People's Bank of China does....