Bitcoin is winning. I truly feel sorry for the Skeptics.  It will be 7 days until Bitcoin becomes legal tender in El Salvador. Chivo ATM’s are now up in El Salvador.

Protests against BTC becoming legal tender are ongoing in El Salvador. A bear market is incoming. Going to hit below 30 k in 7 days.

It is still available there at the minute, so as good news as it is, I don’t think it will make a massive price difference right away.

Community Response:  I feel like bulls are still in control here. I’m holding swing and scalp longs targeting 60k+

They are using Lightning Network, and not Bitcoin. Not a single Bitcoin logo is present. This countries dictator is literally pretending to like “Bitcoin” to force in a centralized scam clone, where he controls everyone Strike wallets. Few understand this.

Salvadoran here, can confirm. Those 30$ are not even BTC. Most likely some random BS token made by Bukele’s gob

Yep, most Salvadorans are strongly against this new policy. Too bad BTC maxis are too brainwashed to use any logical thinking.

I’ve been talking to locals here and actually recorded the video which is shared above, and the people are under educated and brainwashed by the opposition.  Quite easy to be the keyboard-warrior from your dark attic room.

I’m sure that calling me a keyboard-warrior makes you know better than me, who happens to be a freaking Salvadoran living in El Salvador.

Is Chivo audited and recorded on-chain? How is this not fractional reserve Bitcoin? I thought Bitcoin was about removing the hub and spoke payment processors and having an honest record!

People will smash those machines open looking for dollars and Bitcoin, but they’ll only find fiat.

You’d better buy some that day because there’s no evidence whatsoever that the El Salvador government has bought any to distribute, let alone $30 per citizen. This is smoke and mirrors custodial shit.

Nope. The president will not “ALLOW” them to convert the (supposed) $30 worth. (If, indeed, it exists at all. We don’t know that it does.)

The best is yet to come for my beautiful country El Salvador.  I’m just waiting for an article saying someone stole it trying to get the Bitcoin out of it.

Why did El Salvador legalize Bitcoin? El Salvador abandoned its own currency (the “colon,” named after Christopher Columbus) in 2001 and adopted the US dollar as its legal tender.

This process of “official dollarization” was seen as a reform that would curb inflation and increase trade with the US (by far its major trading partner).

So El Salvador has less to lose than other nations in adopting a second currency — Bitcoin — as legal tender. There is no controversy about losing sovereignty and monetary policy autonomy.

There will be no loss of “seignorage” – the profit made on issuing currency that’s worth a lot more than the cost of making it.