If El Salvador Ever "Goes Public", I'm Buying Shares
Prior to all the fuzz around the country of El Salvador rushing to adopt Bitcoin as legal tender, and start mining it at a state level, I didn't even know this nation exists on the map. There are high chances that most of the citizens over there have never heard of Romania either...
The small and not highly developed country has managed to achieve in terms of mass adoption for Bitcoin what most of the nations around the world can't even imagine. Paying with Bitcoin for almost anything in that country is a mundane act.
September 7th, this year, if memory serves me well, is the day that El Salvador has declared Bitcoin as legal tender and not everybody got excited about that, especially the IMF and some "fans of the president". From what I see, most of the ones celebrating that, are Bitcoin maxis traveling there.
It just came out today that the volcano mining facility that the country has put up, is in place and ready for tours. I don't have the details yet whether they started actually mining by using volcanic energy, although I might have read something about that, but this event is something Satoshi should be proud of.
A nation is "hashing to mine Bitcoin". What else would you ask for as the creator of probably the world's first "people's money", as I consider Bitcoin and most of the cryptocurrencies that are a result of decentralized blockchains.
Cynthia Lummis, senator of the US, introduces bill to support "financial freedom and individual sovereignty", according to Bitcoin Magazine, but the US however is not that crypto friendly as this tiny country proves to be. Yes, they finally have a Bitcoin futures ETF, but the ones celebrating any ETF on Bitcoin are missing the point.
What El Salvador does is what Bitcoin has been designed for. These guys are mining it, using volcano energy to do so and being part of its decentralized nature, are using it as an exchange currency and are redistributing the wealth created for the benefit of the country. They are building schools and hospitals with the Bitcoin money...
That imo is more important for what Bitcoin has been designed than any ETF and crypto regulation in the world. What many in this space are missing regarding Bitcoin and crypto in general is that for its organic growth usability and utility is more important than its money making side.
If El Salvador would go public I would definitely buy shares of it. I am not willing yet to leave my shitty country, but if life forces me to do so I might consider this tiny country to move to. It's the perfect example of Bitcoin revolution taking place.
Thanks for attention,
Adrian
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https://twitter.com/AdrianPapava/status/1461052024804589576
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What is your end of the road prediction for BTC, and in the past years, when BTC was 64 k, alt coins were good, but now they are so lame
Well, El Salvador is warmer than Romania and you can go to the beach every day of the year.
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That's definitely a plus. I like beaches.
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If you ask me to choose between a country that supports crypto 100% and a country that put restrictions on btc I will go for a country that supports btc. Most countries that doesn't support btc lack insight, corruption, and don't want the development of the people in it.
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True 👍
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Wow, you posted this only 3 days before El Salvador announced their new awesome Bitcoin Bonds (VolcanoBonds), absolutely worth buying units there, good job you legend!!!