The president of the central american country of el salvador has recently proposed the introduction of bitcoin as the second legal tender and if implemented, el salvador would make history as the world's first independent state to introduce the digital currency bitcoin. No country will be affected by the competition even if its business decreases it will rise again. Bitcoin transactions will be temporarily suspended if the value of bitcoin declines to minimize the effects of extreme volatility or price fluctuations the country became the first in the world to officially accept bitcoin as a legal tender.