Quote from: MrcMrc on December 28, 2021, 08:58:24 AM

Quote from: Fortify on December 23, 2021, 09:17:37 PM

Quote from: Wiwo on November 21, 2021, 12:20:42 PM

El Salvador have continued to take the lead in cryptocurrency adoption, first the country announced bitcoin as a legal tender some months ago and the latest is the official opening of a bitcoin city which will serve as a free trade zone that will house top exchanges and bitcoin mining farms. The president announced this project which is backed with a 1 billion dollars worth of bitcoin as a bond.
https://cointelegraph.com/news/el-salvador-to-inaugurate-bitcoin-city-backed-by-1b-bitcoin-bonds

The irony that the project is announced in terms of a US dollar equivalent value (which happens to be the other official currency of El Salvador) is slightly comical. While it sounds like a lot and it is for the average person, 1 billion doesn't stretch that far in terms of infrastructure - especially when it is spread across many years. That and the bonds will be paying interest to the owners across all that time, which is conveniently overlooked and hidden away. It's nice to see some faith in Bitcoin, but it all still feels rather gimmicky and the president of El Salvador is just putting people in the country under the whims of an online currency. That might work, but it's still a big gamble and a billion dollars could definitely be used in more productive ways to help this still developing country.

El Salvador has shown great interest in bitcoin and despite the fact that the bond came in form of US dollars it doesn't matter I preferred the funds to be in the country's centralized currency rather than being in Bitcoin as El Salvador Bitcoin holding is aimed at the future.

always have to give appreciation to developing countries who want to advance their country in a renewable way by adopting bitcoin even though it is still relatively new, this should be a very good step. as long as the goal is to provide progress for their country and make reforms they want to have to later undergo.
elsavador already wants to go further in a way that wants to continue to be able to introduce bitcoin to its people. continue to move to keep looking ahead with bitcoin which will contribute to the country and its people.