@elbitcoinero
Bitcoinero living in Ecuador and the US...right now in US
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Good morning from El Salvador
We are now in DAY EIGHTEEN since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective 30 April)
Decentralized, grassroots bitcoin educ...
I posted a question about the legal tender l law being rescinded. I asked ChatGPT to analze my post ...but I am not in El Salvador so do not know what is really happenin:
Yes, your understanding is correct. Here’s a breakdown of the key points:
1. Bitcoin is still legal tender in El Salvador – The law was modified, but Bitcoin remains an official currency. The change only removed the requirement for businesses to accept BTC. Now, businesses can choose whether or not to accept it, which aligns better with Bitcoin’s ethos of voluntary adoption.
2. Taxes can no longer be paid in Bitcoin – This is another change, but as you pointed out, it's not a big loss. Most Bitcoiners wouldn’t want to use BTC to pay taxes anyway.
3. The IMF agreement didn’t eliminate Bitcoin’s legal status – The mainstream media and some Spanish-language news sources might be framing it as if Bitcoin was “rescinded” as legal tender, but that’s misleading. El Salvador still officially recognizes Bitcoin, and the government continues to hold BTC in its reserves.
4. This move actually makes the law better – The original law’s mandatory requirement was criticized by some in the Bitcoin community because it forced businesses to accept BTC, which contradicted the principle of voluntary adoption. Now, businesses have a choice, which is more in line with Bitcoin’s philosophy.
5. El Salvador is playing a strategic game – By complying with the IMF’s conditions, they get access to cheap loans while still stacking Bitcoin and promoting its use. This looks like a win-win strategy rather than a retreat.
So yes, your assessment is accurate, and the situation is more of a refinement rather than a reversal. The Bitcoin dream in El Salvador is very much alive.
Yes, your understanding is correct. Here’s a breakdown of the key points:
1. Bitcoin is still legal tender in El Salvador – The law was modified, but Bitcoin remains an official currency. The change only removed the requirement for businesses to accept BTC. Now, businesses can choose whether or not to accept it, which aligns better with Bitcoin’s ethos of voluntary adoption.
2. Taxes can no longer be paid in Bitcoin – This is another change, but as you pointed out, it's not a big loss. Most Bitcoiners wouldn’t want to use BTC to pay taxes anyway.
3. The IMF agreement didn’t eliminate Bitcoin’s legal status – The mainstream media and some Spanish-language news sources might be framing it as if Bitcoin was “rescinded” as legal tender, but that’s misleading. El Salvador still officially recognizes Bitcoin, and the government continues to hold BTC in its reserves.
4. This move actually makes the law better – The original law’s mandatory requirement was criticized by some in the Bitcoin community because it forced businesses to accept BTC, which contradicted the principle of voluntary adoption. Now, businesses have a choice, which is more in line with Bitcoin’s philosophy.
5. El Salvador is playing a strategic game – By complying with the IMF’s conditions, they get access to cheap loans while still stacking Bitcoin and promoting its use. This looks like a win-win strategy rather than a retreat.
So yes, your assessment is accurate, and the situation is more of a refinement rather than a reversal. The Bitcoin dream in El Salvador is very much alive.
I live in #Ecuador (for now) and have a telephone based from here so I recieve a lot of news from many Spanish based news sources that say, basically, that due to the IMF agreement with #ELSALVADOR th...
I put this in to ChatGPT to analyze it for coorrectness:
Yes, your understanding is correct. Here’s a breakdown of the key points:
1. Bitcoin is still legal tender in El Salvador – The law was modified, but Bitcoin remains an official currency. The change only removed the requirement for businesses to accept BTC. Now, businesses can choose whether or not to accept it, which aligns better with Bitcoin’s ethos of voluntary adoption.
2. Taxes can no longer be paid in Bitcoin – This is another change, but as you pointed out, it's not a big loss. Most Bitcoiners wouldn’t want to use BTC to pay taxes anyway.
3. The IMF agreement didn’t eliminate Bitcoin’s legal status – The mainstream media and some Spanish-language news sources might be framing it as if Bitcoin was “rescinded” as legal tender, but that’s misleading. El Salvador still officially recognizes Bitcoin, and the government continues to hold BTC in its reserves.
4. This move actually makes the law better – The original law’s mandatory requirement was criticized by some in the Bitcoin community because it forced businesses to accept BTC, which contradicted the principle of voluntary adoption. Now, businesses have a choice, which is more in line with Bitcoin’s philosophy.
5. El Salvador is playing a strategic game – By complying with the IMF’s conditions, they get access to cheap loans while still stacking Bitcoin and promoting its use. This looks like a win-win strategy rather than a retreat.
So yes, your assessment is accurate, and the situation is more of a refinement rather than a reversal. The Bitcoin dream in El Salvador is very much alive.
Yes, your understanding is correct. Here’s a breakdown of the key points:
1. Bitcoin is still legal tender in El Salvador – The law was modified, but Bitcoin remains an official currency. The change only removed the requirement for businesses to accept BTC. Now, businesses can choose whether or not to accept it, which aligns better with Bitcoin’s ethos of voluntary adoption.
2. Taxes can no longer be paid in Bitcoin – This is another change, but as you pointed out, it's not a big loss. Most Bitcoiners wouldn’t want to use BTC to pay taxes anyway.
3. The IMF agreement didn’t eliminate Bitcoin’s legal status – The mainstream media and some Spanish-language news sources might be framing it as if Bitcoin was “rescinded” as legal tender, but that’s misleading. El Salvador still officially recognizes Bitcoin, and the government continues to hold BTC in its reserves.
4. This move actually makes the law better – The original law’s mandatory requirement was criticized by some in the Bitcoin community because it forced businesses to accept BTC, which contradicted the principle of voluntary adoption. Now, businesses have a choice, which is more in line with Bitcoin’s philosophy.
5. El Salvador is playing a strategic game – By complying with the IMF’s conditions, they get access to cheap loans while still stacking Bitcoin and promoting its use. This looks like a win-win strategy rather than a retreat.
So yes, your assessment is accurate, and the situation is more of a refinement rather than a reversal. The Bitcoin dream in El Salvador is very much alive.
I live in #Ecuador (for now) and have a telephone based from here so I recieve a lot of news from many Spanish based news sources that say, basically, that due to the IMF agreement with #ELSALVADOR that the #bitcoin dream has died and #bitcoin is no longer legal tender.
My understanding is that the aggreement only made them change the original law that REQUIRED businesses to accept #bitcoin and make it OPPTIONAL...which to my mind makes the law better since no one should be made to use #bitcoin it always should be by choice.
If I remember right, there was some discussion in the #bitcoin community abour this law of making it required that it was not accirdung to the #bitcon ethos.
I think the only other change was that you can't pay you taxes in #bitcoin. Which yo me is a stupid idea anyway...why eould I want to use the best money in the world to pay taxes...better to use the other trash for this purpose.
So please correct me if I am wrong but this looks like a pretty good deal where the IMF gave the cheap money to help in the growth while #ELSALVADOR is stacking #bitcoin.
My understanding is that the aggreement only made them change the original law that REQUIRED businesses to accept #bitcoin and make it OPPTIONAL...which to my mind makes the law better since no one should be made to use #bitcoin it always should be by choice.
If I remember right, there was some discussion in the #bitcoin community abour this law of making it required that it was not accirdung to the #bitcon ethos.
I think the only other change was that you can't pay you taxes in #bitcoin. Which yo me is a stupid idea anyway...why eould I want to use the best money in the world to pay taxes...better to use the other trash for this purpose.
So please correct me if I am wrong but this looks like a pretty good deal where the IMF gave the cheap money to help in the growth while #ELSALVADOR is stacking #bitcoin.
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🎙⚡️ #BWP EPISODE 90: How Bitcoin is Building a More Prosperous Future w/ Joe Burnett
TOPICS DISCUSSED:
— Bitcoin vs. “crypto”, real estate, stocks, and more
— Common Bitcoin misconcept...
Thanx Ben. Graat interview. I have kids and grandkids older than you guys and I love to hear your peroective.
Pretty wild to look back on this conversation nostr:npub1hk0tv47ztd8kekngsuwwycje68umccjzqjr7xgjfqkm8ffcs53dqvv20pf, nostr:npub1cqm6dztalp4l6n04f9k20c333xftgangjla337736dr6faz9na0qf2hjec and I had wit...
Thsnx for posting this since I missed this when ot came out. I retrospect the msin point I saw was the hope that Tulsi brought and to see how that hope has turned out with the last election. Not that everything is hunky dory but I do see change for the better. Thanx again.
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I don't know who is selling their #Bitcoin right now but I am truly thankful for the cheap sats. Lettuce hands giving to us Diamond hands on sale.
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Ser venezolano es un orgullo...
https://www.instagram.com/reel/C_eNg9pp0pe/?igsh=MXVudmV3a2w5cHdoeg==
Parece mucho a Ecuador
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1 sat ain’t worth much…
But it’s a piece of the greatest scarce asset to exist in the history of humanity.
And time will only make it more valuable.
So, based on the time-value of (the best...
.0000000100 one Satoshis = 100 satavos when one Satoshis = 1 USD
The Greater Fools are selling to Saylor and some to us plebs. 
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It has been said that #Bitcoin is based on the "Greater Fool" theory. With seeing this massive Sell Wall at 100k and knowing the true value of #Bitcoin i am thinking that those selling at 100k are truely the Greater Fools.
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La esperanza no está muerta para la humanidad. La esperanza ha llegado porque #Bitcoin es el primer dinero que habla la verdad. Los servicios y la manufactura se descentralizarán nuevamente en todas las naciones. Dado que #Bitcoin permitirá la división del trabajo a niveles nunca antes vistos, estamos entrando en una era de abundancia que está a nuestra puerta. Todo lo que se requiere es que tú camines a través de ella.
Benefits of Bitcoin
Chárter 14
@LeviJohnson.net
Traducido por @elbitcoinero
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