#bitcoinlegaltender

[digitaldanknes-blog]

Unlocking Argentina's Potential: Bitcoin as Legal Tender! 🔓📈 #ArgentinaCrypto #BitcoinLegalTender #CryptoProgress #cryptonewsalerts #cryptonews #CryptoInclusion #FinancialOpportunity

[juancarlosphotog]

One year ago today, El Salvador became the first country to adopt bitcoin legal tender, or an official currency, alongside the US dollar. Promising change the country’s economy, foreign investment and a cryptocurrency heaven. President Bukele expected Salvadorans to us the it to for everyday purchases from paying the bus fare to buying pupusas as well as save hundredths of thousands of dollars on remittances fees to the almost four million Salvadorans who live abroad and send money back home. At worst, the national experiment is a total failure, El Salvadoran government has made a loss of 54.6%, since the total cost of purchasing the bitcoin above was around $106.3 million, while it’s now worth only $48.2 million. The Chivo Wallet app was total failure and those people who downloaded it only to withdraw the $30 the government was giving out, very low percentage of people used for day to day payments. Now the country is in a financial crisis, the first ever Bitcoin bond—also known as the Volcano token, never happened and Bitcoin City is just a mock-up. * * #EverydayElSalvador #LatinAmerica #CentralAmerica #NorthernTriangle #CryptoCurrency #BitcoinLegalTender #photojournalism #Bukele #Nayib #Democracy #hanslucas #DeBeeldunie #JuanCarlos #2022copyright * * * © Juan Carlos - All Rights Reserved / Todos los Derechos Reservados * * * Represented by Hans Lucas @studiohanslucas/@hl_latinamerica (France) and @beelduine De Beeldunie (Netherlands) (at El Salvador) https://www.instagram.com/p/CiNZiusuGNk/?igshid=NGJjMDIxMWI=

[binimom]

El Salvador Coin Mouth

El Salvador's Bitcoin legislation and motivations revealed

On June 5, 2021, El Salvador redefined monetary history by becoming the first country in the world to legislate Bitcoin, a decentralized digital currency. In a bold move, President Nayib Bukele spearheaded the installation of more than 200 Bitcoin ATMs across the country, effectively recognizing Bitcoin alongside the US dollar. The rationale behind this groundbreaking move was El Salvador's growing disillusionment with the limitations of the US dollar, primarily its susceptibility to inflation and the high costs associated with international remittances. Bitcoin's unique properties, based on blockchain technology, provide a buffer against inflationary pressures and offer a more secure and cost-effective solution for cross-border transfers. By legalizing Bitcoin, there are expectations that El Salvador will open the floodgates to investment and position itself at the forefront of the digital asset revolution. However, the legislation carries inherent risks that could expose the country's economy to significant fluctuations, primarily due to the unstable nature of Bitcoin.

The promise and perils of legalizing Bitcoin

El Salvador's legalization of Bitcoin puts the country in the global spotlight and sets a precedent that could encourage other countries to follow suit. Recognizing bitcoin as a legal tender could potentially boost its use in the country, bolstering businesses that deal with the cryptocurrency and spurring the installation of more bitcoin ATMs. However, such a move would also come with a set of challenges. The price of bitcoin, which is notoriously volatile, is determined by the number of participants in the trading ecosystem. Its status as a digital asset amplifies the uncertainty associated with its valuation. As such, the risk-return tradeoff for bitcoin is significant: the potential for high returns is attractive, but it comes with equally compelling risks. For those looking to capitalize on the new era of bitcoin in El Salvador, it is important to have a well-informed and comprehensive understanding of the pros and cons of bitcoin. The bitcoin market is highly volatile, so it's important to use good judgment when investing. It's a good idea to decide what you're comfortable with and limit your investments within those limits. El Salvador's acceptance of Bitcoin as a legal tender could spark a wave of Bitcoin popularity. However, investors should tread this path carefully, understanding the complexities and potential risks of investing in Bitcoin. A successful investment strategy in this dynamic market requires constant monitoring and staying abreast of the latest developments in the Bitcoin world.

[gokumarketofficial]

📣 @Athena Confirms Plans to Install 1,500 Cryptocurrency #ATMs in #ElSalvador 🇸🇻 

👉 On June 17, Athena posted about its plans to expand in the country in the wake of lawmakers passing a bill to make #Bitcoinlegaltender.

👉 Athena's director for Latin America, Matias Goldenhörn, said El Salvador's President #NayibBukele "presented us with a tough challenge of 1,500 ATMs, we will go for that, but in phases."

👉 #Goldenhörn said they will start with dozens of machines to test the business model and ensure their development in the country is sustainable.

👉 Athena currently operates two crypto ATMs in El #Salvador, one at El Zonte beach and other at El Tunco. Now, they are planning to target regions where residents receive remittances from abroad.

Learn more...👇

Web 🌐 http://bit.ly/358ywyu  

Android 📲 http://bit.ly/2PhGUF5   

iOS 📲 https://apple.co/2DJ7bqL  

&

YouTube https://bit.ly/3oHXDBB  

Telegram 🌐 http://bit.ly/2XgolES  

Medium 🌐 https://bit.ly/3eGCaVE  

#GokuMarket #BlockchainEconomy #BitcoinATM #Athena #Bitcoin #Cryptocurrency #btm #LATAM #Cryptonews 

[juancarlosphotog]

President Nayib #Bukele announced during a televised national address the night of Independence day that he will running for president to seek a second consecutive term even though the Salvadoran constitution prohibits it. He is already seen as an authoritarian president and with recent announcement it could the route te become the next dictator of El Salvador. * El presidente Nayib Bukele anunció durante un discurso nacional televisado la noche del Día de la Independencia que se postulará para presidente y así buscar un segundo mandato consecutivo a pesar de que la constitución salvadoreña lo prohíbe. Ya se le ve como un presidente autoritario y con este reciente anuncio podría convertirse en el próximo dictador de El Salvador. * * #EverydayElSalvador #LatinAmerica #CentralAmerica #NorthernTriangle #CryptoCurrency #Bukelismo #BitcoinLegalTender #photojournalism #Bukele #NayibBukele #Democracy #hanslucas #DeBeeldunie #JuanCarlos #2022copyright * * * © Juan Carlos - All Rights Reserved / Todos los Derechos Reservados * * * Represented by Hans Lucas @studiohanslucas/@hl_latinamerica (France) and @beelduine De Beeldunie (Netherlands) (at El Salvador) https://www.instagram.com/p/CioQMEIOaYQ/?igshid=NGJjMDIxMWI=

[juancarlosphotog]

President Nayib Bukele talking about the future project #BitcoinCity during the final event of last year’s Latin American Bitcoin and Blockchain Conference (LABITCONF). / El presidente Nayib Bukele hablando sobre el futuro proyecto del #BitcoinCity durante el cierre de la Conferencia Latinoamericana de Bitcoin y Blockchain (LABITCONF) del año pasado. * * #EverydayElSalvador #LatinAmerica #CentralAmerica #NorthernTriangle #CryptoCurrency #BitcoinLegalTender #photojournalism #Bukele #Nayib #Democracy #hanslucas #DeBeeldunie #JuanCarlos #2022copyright * * * © Juan Carlos - All Rights Reserved / Todos los Derechos Reservados * * * Represented by Hans Lucas @studiohanslucas/@hl_latinamerica (France) and @beelduine De Beeldunie (Netherlands) (at El Salvador) https://www.instagram.com/p/Cgi0lA6AeDe/?igshid=NGJjMDIxMWI=