Saturday, November 20, 2021 7:35:11 AM
In the meantime…..
“Some were worried about the new digital currency’s instability and uncertainty around crypto, while other citizens viewed Bitcoin as a path to financial freedom.”
“ Right now, it’s illegal to pay employees or get paid in crypto (president Nayib Bukele has stated this himself), and businesses that pay in Bitcoin will be sanctioned. This was one of the major concerns of the population, as the price volatility of Bitcoin could damage many families’ financial situation. Many live on a tight budget and can’t wait for Bitcoin to rise if it’s low.”
“ “Cryptocurrency will help in the long term; the possibility of not relying on banks for transactions or saving money is great. For a small country with a small economy like El Salvador, financial entities might offer more competitive services or fees to stand out. Also, having a decentralized currency like Bitcoin might give more power to entrepreneurs and local businesses to grow without much hassle.”
“Why You Should Care?
Other countries might eventually follow El Salvador’s lead and adopt crypto as a legal tender.”
https://www.investing.com/news/cryptocurrency-news/life-with-bitcoin-in-el-salvador-through-the-eyes-of-a-local-2685982
"Be fearful when others are greedy, and greedy when others are fearful."
_Warren Buffett
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