El Salvador makes Bitcoin legal tender on 7 Sep 2021 - Printable Version

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+--- Thread: El Salvador makes Bitcoin legal tender on 7 Sep 2021 (/Thread-El-Salvador-makes-Bitcoin-legal-tender-on-7-Sep-2021)

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El Salvador makes Bitcoin legal tender on 7 Sep 2021 - Levin - 07-09-2021

SEP 06, 2021


El Salvador will make history tomorrow by becoming the first country in the world to adopt Bitcoin as legal tender.

......

The pros of Bitcoin adoption in brief:

• El Salvador is already reliant on a first-world currency which is problematic in terms of lending and borrowing
  
• Being reliant on the US dollar hinders emerging economies
  
• Adopting Bitcoin could reduce the cost of remittances
  
• El Salvador could potentially increase its own reserves through the adoption of Bitcoin
  
• Using the cryptocurrency could increase foreign investment in El Salvador
  

https://fintechmagazine.com/digital-payments/controversy-el-salvador-makes-bitcoin-legal-tender-tomorrow

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RE: El Salvador makes Bitcoin legal tender on 7 Sep 2021 - Niubee - 07-09-2021

de-dollarization.

USA is a hinder.

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RE: El Salvador makes Bitcoin legal tender on 7 Sep 2021 - Rubitin - 07-09-2021

Crytocurrency is good for any govt cos no need to declare reserve ?

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RE: El Salvador makes Bitcoin legal tender on 7 Sep 2021 - Levin - 07-09-2021

(07-09-2021, 12:20 PM)Rubitin Wrote:  Crytocurrency is good for any govt cos no need to declare reserve ?

?? Think can still declare. Just that crypto's fluctuations rather wild so the reserve declaration get outdated pretty fast.

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RE: El Salvador makes Bitcoin legal tender on 7 Sep 2021 - Rubitin - 07-09-2021

(07-09-2021, 12:21 PM)Levin Wrote:  ?? Think can still declare. Just that crypto's fluctuations rather wild so the reserve declaration get outdated pretty fast.

do screen shot to capture since so much fluctuations on screen .

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