Bitcoin will soon be an official currency in El Salvador

[HttpError]

When BTC hits $100,000 it will melt many faces here.

 

[SecularNationalist]

When BTC hits $100,000 it will melt many faces here.

And then some stupid fcuk will get sucked in the bubble hoping soon it will hit $1m . After few weeks it will be back at $35k and he won't even have tissue paper money to wipe his arse.

 

[Old School]

El Salvador is one of the most dysfunctional and violent country in the world with a millennial president. It is using US dollar for daily groceries. It is now going to become a global ATM machine for money laundering. Buy Bitcoin with your illicit money and go to El Salvador to cash out. They must be blacklisted by FATF.

 

[925boy]

Some people are just uninformed and lack knowledge of the transformational nature of cryptocurrencies, but they hide it behind cynicism and skepticism. Every industry has the losers, scammers, etc, but they dont define the market. if you dont understand cryptos then just be aware of that, instead of projecting that by trying to pretend to b a smart critic, whereas you're just ignorant of it.

And then some stupid fcuk will get sucked in the bubble hoping soon it will hit $1m . After few weeks it will be back at $35k and he won't even have tissue paper money to wipe his arse.

BOTTOM LINE - Bitcoin by nature is deflationary. that is truth and fact.

 

[Mk-313]

Some people are just uninformed and lack knowledge of the transformational nature of cryptocurrencies, but they hide it behind cynicism and skepticism. Every industry has the losers, scammers, etc, but they dont define the market. if you dont understand cryptos then just be aware of that, instead of projecting that by trying to pretend to b a smart critic, whereas you're just ignorant of it.

BOTTOM LINE - Bitcoin by nature is deflationary. that is truth and fact.

thats true . A lot of pretend economist here utter BS all the time

Every time someone new gets hyped about BTC. It raises the demand while supply stays at 21 mil. The value will go up.

It’s the same process by which gold has value. Because we all have faith in it that it has value

 

[siegecrossbow]

thats true . A lot of pretend economist here utter BS all the time

Every time someone new gets hyped about BTC. It raises the demand while supply stays at 21 mil. The value will go up.

It’s the same process by which gold has value. Because we all have faith in it that it has value

But gold at least is an inert metal. When you mine it out of the ground you can put it in a safe and forget about it. At least it looks pretty and can be crafted into jewelry and could be used in circuits-has aerospace applications.

Bit coins take computational power/energy not only to be mined but to be maintained.

 

[StormBreaker]

Lots of my family and friends are big into bitcoin, but I have only a small holding at the moment. I am not sure what to make of it, TBH. Any major central bank blessing it would be a step in making this more mainstream, but not otherwise, IMO.

JP MORGAN is interested in it. Just wait for the news

 

[HttpError]

And then some stupid fcuk will get sucked in the bubble hoping soon it will hit $1m . After few weeks it will be back at $35k and he won't even have tissue paper money to wipe his arse.

For that reason alone with any investment, only invest what you can afford to lose. This is an emerging market and it is obvious that it will be very volatile, just as once the current stock market was.

 

[Mk-313]

But gold at least is an inert metal. When you mine it out of the ground you can put it in a safe and forget about it. At least it looks pretty and can be crafted into jewelry and could be used in circuits-has aerospace applications.

Bit coins take computational power/energy not only to be mined but to be maintained.

that’s the utility arguement. And that’s somewhat true but if gold is taken . As utility alone it’s price wouldn’t be this high. Gold price would be the cost of mining x2 or x3

Bitcoin also has utility it is a ledger system and a lot of companies pay to keep ledger. But the price of ledger wouldn’t be as high as bitcoin is

What gives both of them their inflated price is their standard as a store of value. Not a lot of people understand this concept and say something like printing paper has no value etc etc. aside from utility, Dollar, Gold or Bitcoin has no inherent value. We use it to transfer value

If I do 1 hours worth of work I transfer the value of that labor into the dollar note and I say this note represent my 1 hr worth of labor and I am willing to exchange my 1 hr worth of labor (manifested physically as dollar note) for a good that represent equal amount of labor/value. And the more value is transferred into these commodities the more the prices get high

 

[925boy]

Bit coins take computational power/energy not only to be mined but to be maintained.

So does US Dollar printing and SWIFT system...everything valuable that is mass adopted will naturally have costs, and thats not the main benefit or goal of it even, you guys make that point as a distraction, because once again, you dont fundamentally understand how transformational cryptocurrencies will be to mankind. simple. Bitcoin's market cap SPEAKS FOR ITSELF....all theories are just fake and pale in comparison to THAT reality.

But gold at least is an inert metal.

but you cant easily, cheaply, conveniently store and transfer gold quickly can you? but you can with crypto- BRO! CRYPTO IS EGOLD 2.0..modern era version...peop,le can so easily steal physical gold vs electronically locked (2fa) digital wallets..smh...

 

[VCheng]

JP MORGAN is interested in it. Just wait for the news

May be it will go up.

 

[SecularNationalist]

Bitcoin's market cap SPEAKS FOR ITSELF.

Dude seriously are you some 15 year old?
A bubble can cause a trillion dollar market cap but it's still a bubble which can burst anytime or can lose its more than half value in a matter of weeks just like in the case of Bitcoin.
A dot com bubble had also a large market cap and we all know how it's ended.

 

[925boy]

Dude seriously are you some 15 year old?
A bubble can cause a trillion dollar market cap but it's still a bubble which can burst anytime or can lose its more than half value in a matter of weeks just like in the case of Bitcoin.
A dot com bubble had also a large market cap and we all know how it's ended.

if bitcoin was a bubble then how has its market cap increased so much OVER 10+ years???/ when do u predict the "btc bubble" will burst??

i stand with reality - bitcoin's market cap, high sustained interest, purchase by large institutions and govts(El Salvador), meanwhile you stand by your insecurities cuz u dunno sht about cryptos, people "fear what they dont understand".

 

[_NOBODY_]

Paraguay welcomes bitcoin, New Legislation will be introduced in July
By RUPALI SONI
JUNE 18, 2021


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Following the footsteps of the Salvadoran President, Paraguay finally opened arms for bitcoin. Last week, Carlos Antonio Rejala Helman, the Deputy of Paraguay announced that the nation is planning to work on a crucial project related to bitcoin and PayPal. “As I said a long time ago, our country needs to move forward hand in hand with the new generation. The time has come, our moment. This week we started with an important project to innovate Paraguay in front of the world! The Real to the Moon #btc & #PayPal”, Rejala Helman tweeted on June 7th.

After this hint from the Paraguayan official himself, the crypto industry was waiting for a significant announcement around the cryptocurrency legislation. This wait came to an end in the wink of an eye. On Friday, Rejala Helman confirmed that the country will announce the new rule around cryptocurrency in July. It can be said that the decision of the Paraguayan Deputy and the Nation is somewhere influenced by the adoption of the cryptocurrency in El Salvador. Not only Paraguay but the Central American country, Panama is also expected to follow the path led by Nayib Bukele.

Rejala Helman is a member of the Paraguayan Congress and also the Deputy of the Nation, He announced that he is planning to introduce a bitcoin bill in July. In his recent tweet, Rejala Helman stated that “This is Paraguay, July we legislate! #Bitcoin”.

Seems like no American country wants to trail behind in the race of adopting the cryptocurrency as Panamanian Congressman, Gabriel Silva also recently announced to adopt bitcoin as legal tender in the country and stated that he believes “Panama should not trail other nations in America that have legalized the bitcoin”. This quick spread of bitcoin in the American countries is a piece of good news for crypto supporters. Meanwhile, The Salvadoran leader is taking more steps to support the cryptocurrency and hence, urged the bitcoin miners to use the thermal energy of the volcanoes in the country rather than using fossil fuels to save the environment.

The decision of legalizing bitcoin in Paraguay is receiving immense appreciation on Twitter by the crypto supporters and to show support, Grupo Cinco, which is one of the biggest entertainment companies in Paraguay is planning to accept Bitcoin as payment and also the other cryptocurrencies.

Paraguay welcomes bitcoin, New Legislation will be introduced in July - TechStory

n Friday, Rejala Helman confirmed that the country will announce the new rule around cryptocurrency in July. It can be said that the decision of the Paraguayan Deputy and the Nation is somewhere influenced by the adoption of the cryptocurrency in El Salvador.

techstory.in

 

[Wood]

Bit coin gamble is falling apart. How has it affected this experiment?