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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
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
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
#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.
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