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This is a remarkable development. I have no idea of the size of the economy of El Salvador, but I hope this helps them. 70% unbanked population can do wonders with hopefully close to instant money transfers. https://t.co/A8fH0CwvaJ
— Deepak Shenoy (@deepakshenoy) June 9, 2021
First they ignore you, then suddenly Paraguay ??, Argentina ??, Panama ??, Brazil ??, El Salvador ??, and Nicaragua ?? embrace #Bitcoin
— Tyler Winklevoss (@tyler) June 8, 2021
The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress.
— Nayib Bukele ?? (@nayibbukele) June 9, 2021
62 out of 84 votes!
History! #Btc??
I’ve just sent the #BitcoinLaw to Congress ?? pic.twitter.com/DljnxsXlyt
— Nayib Bukele ?? (@nayibbukele) June 9, 2021
To any of our El Salvadoran friends:
— FTX - Built By Traders, For Traders (@FTX_Official) June 9, 2021
You can add the ability to accept BTC to your website in a few minutes using FTX pay https://t.co/9i5SjwI876
You just make the app and copy the code to your site https://t.co/Cdug7LYkrK
Here’s the El Salvador bill text translated. Article 7 seems to be the most interesting. https://t.co/nTEjbeUIoM pic.twitter.com/5sorrKU6q1
— Neeraj K. Agrawal (@NeerajKA) June 9, 2021
Amazing.
— balajis.com (@balajis) June 9, 2021
If I’m reading this right, all economic agents that are technologically capable of receiving BTC as payment *must* accept it as payment — though instant conversion to USD is made available to anyone who doesn’t want to take price risk.
A mandate for Bitcoin! https://t.co/TTXnHBtXep
El Salvador is dumping its dollars for Bitcoin by providing a means for merchants to accept BTC but receive USD from the state. https://t.co/ALGoZBs7hV
— Preston Byrne (@prestonjbyrne) June 9, 2021
Biggest “catalyst” for bitcoin since inception. Watch for other countries to follow… https://t.co/hW5bktoxpL
— Zalmy (@greatstockpicks) June 9, 2021
El Salvador has adopted bitcoin as a legal tender, meaning BTC must be accepted when offered as payment for goods and services. Using BTC is optional, and of course, nobody is going to use it https://t.co/z8Smd4mQDX
— Amy Castor (@ahcastor) June 9, 2021
I just searched my old emails and saw that June 8, 2011 was the day I got into Bitcoin. Today is exactly 10 years since that day. It is the first time I got goosebumps from something happening in this space. History will look back on this day as a major turning point for Bitcoin! https://t.co/iiVHr1SoVV
— Charlie Lee [LTC⚡] (@SatoshiLite) June 9, 2021
"It is not clear what proportion of remittances sent to El Salvador are in the form of bitcoin."https://t.co/1rjQtt9YT4
— Cyrus Farivar (@cfarivar) June 9, 2021
Omg. Article 7 requires every “economic agent” to accept bitcoin.
— Eli Dourado (@elidourado) June 9, 2021
It’s going to be interesting since the entire Bitcoin blockchain only has enough throughput to allow every Salvadoran to do one L1 transaction every 20 days (assuming no one else in the world uses it at all). https://t.co/ep9ob9Jyz6
El Salvador is currently the only developed nation.
— Bitstein (@bitstein) June 9, 2021
I’m sure many elites in El Salvador already have Bitcoin, but I wonder if this change will make it easier for the wealthy to conceal their assets, obfuscate sources of income, and move money offshore.
— Joe Weisenthal (@TheStalwart) June 9, 2021
I've transcribed the English version of @nayibbukele's #Bitcoin Law @FREOPP for easier analysis. The bottom line: this is about as robust an endorsement of #bitcoin as legal tender as one could expect. https://t.co/hJpizEvdy8
— Avik Roy (@Avik) June 9, 2021
#BREAKING: #ElSalvador has become the first country to adopt #Bitcoin as legal tender. This suggests that dark forces have captured the state. The economic risk of an economic collapse in El Salvador have gone from trivial to significant.https://t.co/st2haCAdkG
— Steve Hanke (@steve_hanke) June 9, 2021
The El Salvador experiment will be interesting to watch.
— balajis.com (@balajis) June 9, 2021
My hunch is that scaling will be “solved” by de facto custodial wallets with peering agreements and infrequent L1 events.
But so long as redemption is feasible, this is like a digital-gold-backed digital currency. https://t.co/JAdMTBQ2ON
El Salvador has officially passed the bill that makes bitcoin legal tender in the country.
— Pomp ? (@APompliano) June 9, 2021
A historic day for humanity.
I’m wondering if #Ethereum will be next, or whether #ElSalvador will turn out to be maxies. :) :) :)
— Vinay Gupta (@leashless) June 9, 2021
Seriously, though, congratulations to the whole #Bitcoin community: you have worked miracles.https://t.co/ZN3ywyTbJL
https://t.co/ZN3ywyTbJL
— Vinay Gupta (@leashless) June 9, 2021
This story has just gotten started
I've transcribed the English version of @nayibbukele's #Bitcoin Law @FREOPP for easier analysis. The bottom line: this is about as robust an endorsement of #bitcoin as legal tender as one could expect. https://t.co/hJpizEvdy8
— Avik Roy (@Avik) June 9, 2021
Here’s the El Salvador bill text translated. Article 7 seems to be the most interesting. https://t.co/nTEjbeUIoM pic.twitter.com/5sorrKU6q1
— Neeraj K. Agrawal (@NeerajKA) June 9, 2021
El Salvador's #Bitcoin law does not mention crypto even once, but bitcoin 21 times!#ElSalvador #ElSalvadorBitcoin https://t.co/mcWtWaC91q
— T o o r a j - ₿⚡ ∞/21M (@_t_o_o_r_a_j_) June 9, 2021
Source: https://t.co/AAKqjStRNL
— Bitcoin Stimulus⚡️ (@BitcoinStimulus) June 9, 2021
El Salvador has become the first country to approve #Bitcoin as legal currency: https://t.co/6tauigEFfQ #cryptocurrency
— IEEE (@IEEEorg) June 9, 2021