A huge step for cryptocurrencies.

in LeoFinance3 years ago (edited)

This publication was also written in SPANISH and PORTUGUESE.

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The Independent

The results of Bitcoin 2021 (which is already considered to be the biggest digital currency event in the world) have already started to appear. The repercussion around the two days of conferences that took place in Miami, with the presence of important names for the cryptocurrency financial market, has been very positive (perhaps even more than expected) and, in addition, a lot of euphoria about the future of cryptocurrencies , a point that in its essence is something extremely important (and encouraging, at least in my point of view) is the adoption of Bitcoin (which is the most popular cryptocurrency in the world) as an official currency of a country.

Yes, you didn't read it wrong... I said, Bitcoin as a country's official currency. If this really happens, the paths to cryptocurrencies will gain more and more space and will make the market that still has very traditional views on blockchain technology to surrender once and for all to this future and understand it once and for all that there is no longer any way to ignore or neglect this revolution. The country I'm referring to is in Central America, El Salvador. An unexpected choice, but one that brings a real possibility of expansion for those who believe in this revolution in technological and financial terms.

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Livecoins

According to a video that was send it by Nayib Bukele to the conference, there was an official announcement that the country has partnered with digital wallet companies so that a high-tech framework can be built so that Bitcoin starts to enter circulation in the country as an official currency. The idea is to create a financial revolution in the country and according to other information from Bukele, there is a bill that will be sent to Congress to make Bitcoin a legal tender (which is currently the US Dollar) that has a very high power to change the entire economic history of the country.

If all goes as expected, this episode can be translated as the beginning of emancipation within a global level from the concentrated power of the central financial institutions. Although this is all something incredible, there are many doubts about how the country intends to put this plan into practice, because one of the obstacles is to digitize the process for a population that until 2017 had only 29% of its total with an active bank account (and the country's economy depends a lot on the transactions that are made by people who do not live in El Salvador). This creates a major impasse, because the physical currency is out of this game.


Un paso enorme para las criptomonedas.

Los resultados de Bitcoin 2021 (que ya se considera el mayor evento de moneda digital del mundo) ya han comenzado a aparecer. La repercusión en torno a los dos días de conferencias que tuvieron lugar en Miami, con la presencia de nombres importantes para el mercado financiero de las criptomonedas, ha sido muy positiva (quizás incluso más de lo esperado) y, además, mucha euforia sobre el futuro de criptomonedas, un punto que en su esencia es algo sumamente importante (y alentador, al menos desde mi punto de vista) es la adopción de Bitcoin (que es la criptomoneda más popular del mundo) como moneda oficial de un país.

Sí, no lo leíste mal... Dije, Bitcoin como moneda oficial de un país. Si esto realmente sucede, los caminos hacia las criptomonedas ganarán cada vez más espacio y harán que el mercado que todavía tiene visiones muy tradicionales sobre la tecnología blockchain se rinda de una vez por todas a este futuro y lo entienda de una vez por todas que ya no existe cualquier forma de ignorar o descuidar esta revolución. El país al que me refiero está en Centroamérica, El Salvador. Una elección inesperada, pero que trae una posibilidad real de expansión para quienes creen en esta revolución en términos tecnológicos y financieros.

Según un video que fue enviado por Nayib Bukele a la conferencia, hubo un anuncio oficial de que el país se ha asociado con compañías de billeteras digitales para que se pueda construir un marco de alta tecnología para que Bitcoin comience a entrar en circulación en el país como un moneda oficial. La idea es crear una revolución financiera en el país y según otra información de Bukele, hay un proyecto de ley que se enviará al Congreso para hacer de Bitcoin una moneda de curso legal (que actualmente es el Dólar estadounidense) que tiene un poder muy alto para cambiar toda la historia económica del país.

Si todo sale como se esperaba, este episodio puede traducirse como el inicio de la emancipación a nivel global del poder concentrado de las instituciones financieras centrales. Si bien todo esto es algo increíble, existen muchas dudas sobre cómo el país pretende poner en práctica este plan, porque uno de los obstáculos es digitalizar el proceso para una población que hasta 2017 solo tenía el 29% de su total con un banco activo. cuenta (y la economía del país depende mucho de las transacciones que hacen las personas que no viven en El Salvador). Esto crea un gran impasse, porque la moneda física está fuera de este juego.


Um passo enorme para as criptomoedas.

Os resultados do Bitcoin 2021 (que já é considerado como o maior evento de moedas digitais do mundo), já começou a aparecer. A repercussão em torno dos dois dias de conferências que aconteceu em Miami, com a presença de nomes importantes para o mercado financeiro das criptomoedas, tem sido muito positiva (talvez até mais do que esperado) e além de muita euforia em relação ao futuro das criptomoedas, um ponto que em sua essência é algo extremamente importante (e animador, pelo menos no meu ponto de vista) é a adoção do Bitcoin (que é a criptomoeda mais popular do mundo) como uma moeda oficial do um país.

Sim, você não leu errado... Eu disse, Bitcoin como moeda oficial de um país. Se isso realmente acontecer, os caminhos para as criptomoedas irão ganhar espaços cada vez maiores e fará com que o mercado que tem os pontos de vistas ainda muito tradicionais em relação a tecnologia blockchain se rendam de vez a esse futuro e entenda de uma vez por todas que não há mais como ignorar ou negligenciar mais essa revolução. O país ao qual eu estou me referindo fica na América Central, El Salvador. Uma escolha inesperada, mas que traz uma possibilidade real de expansão para quem acredita nessa revolução em termos tecnológicos e financeiros.

De acordo com um vídeo que foi enviado por Nayib Bukele para a conferência, houve um anúncio oficial de que o país fez uma parceria com empresas de carteira digital para que possa ser construída uma estrutura de alta tecnologia para que o Bitcoin comece a entrar em circulação no país como uma moeda oficial. A ideia é criar uma revolução financeira no país e de acordo com outras informações de Bukele, há um projeto de lei que será enviado ao Congresso para que ele faça do Bitcoin, uma moeda com curso legal (que atualmente é o Dólar americano) que tem um poder muito alto para mudar toda à história econômica do país.

Se tudo acontecer como o esperado, esse episódio pode ser traduzido como o início da emancipação dentro de um nível global em relação ao poder concentrado pelas instituições financeiras centrais. Apesar disso tudo ser algo incrível, existem muitas dúvidas sobre como o país pretende colocar esse plano em prática, porque um dos obstáculos é digitalizar o processo para uma população que até 2017 só tinha 29% do seu total com uma conta bancária ativa (e a economia do país depende muito das transações que são feitas pelas pessoas que não vivem em El Salvador). Isso cria um grande impasse, porque a moeda física fica fora desse jogo.

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What I want to know is how the US will react normally they would sanction a country for doing something like this and export some good old military lead freedom

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So far, I haven't seen any reaction from the United States on this issue (but surely they must be talking and studying about it).

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Mr. Dementia won’t do a thing. President Harris might react negatively with a press release: Topics of discussion will include Bitcoin finances everything illegal and is bad for the environment. Meanwhile myself and all crypto lovers will buy the dip.

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LOL let them FUD we are dumping fiat at record numbers! I do think they will try something I'm just not sure what it is yet, especially if more Latin American countries are adopting it

Loads of Latin Americans are living in the US ane Canada and sending dollars home, if they are dumping the dollar for BTC that only pushes the currency down more

I don't know how they sanction it but I'm sure they'll try something silly

The US would not outright invade. Otherwise, it would be a simple matter to take over Cuba. There might be other means, via Economic Hit Men, to try to strap the country with loads of debt, or having the President removed by clandestine means. However, with BTC increasing in value as the dollar declines, debt would not be possible.

I don't know what sanctions could be imposed. For what? There are no human rights violations. They aren't amassing weapons. And, El Salvador would have to be completely dependent on the dollar for SWIFT to be used to keep them under control, which is solved with Bitcoin. It would be a simple matter to convert BTC to stablecoin and circumvent SWIFT transactions entirely.

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I don't know much about the Région or the geopolitics but I would assume things like import and export embargo's either direct to the US or with countries the US has power over

Not sure how It would affect El Salvador I just feel developed nations have been so hostile to BTC that they'll what to do something

What tremendously historic and joyous news!

I also just made a post about this historic event.

Cryptocurrencies will take over the world.

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This is going to work so well for a country like El Salvador. They would become the first country in the world to formally adopt the virtual currency and that's the start of a new era. More countries will follow and see their economy booming.

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If that really happens, El Salvador will be part of a historic and revolutionary event.

Such a great thing!

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Oh wow that is really interesting and great developments are occuring in the Cryptocurrancy financial sector.

I wonder what the flow on effects will be. Well done.


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I have no idea what is gonna happen but let's hope for the best.

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Hopefully other countries will see this example and reflect on this technology and take it to a new level.

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That would be great!

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I don't think they will suffer too much from foreign exchange. Tourists and other foreign visitors would still spend dollars using their credit cards. There would still be a need for dollars. And, dollars still serve as the basis for pricing goods and services, even if paid in BTC. Dollars, also serve as the peg for several stablecoins.

Once the floodgates of BTC are open, it would not be a big stretch for citizens to dabble in altcoins as well. While they may not be officially considered legal tender, LTC and such are easily converted to BTC. Altcoins would be a useful bridge for trade with others who do not use the Lightning network.

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Great point of view on this subject, @travelwrtieoney. There are so many options ahead.

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Okay this is pretty exciting and might be signs of dope things to come. Will be keeping my fingers crossed to see how it goes and consider relocation if possible

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The future does look very promising.

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unexpected news, I believe other nations will now follow this example

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