Bitcoin is Legal Tender (In El Salvador)

The possible implications?

  1. No capital gains tax on Bitcoin
  2. Crypto friendly regulations for cryptopruners
  3. Businesses must all accept Bitcoin (Can’t wait for Tesla to start selling cars there…)
  4. Employees possibly opt to get paid in bitcoin
  5. Savers can choose to save in bitcoin
  6. Only Bitcoin is legal tender (Not LTC, not BCH, not BCHSV. You buy your coffee over lightning network with BITCOIN) That puts some arguments to rest.
  7. I am more fond of the idea of bitcoin mining via Geothermal energy. Clean energy to be used for bitcoin farming. I hope the mining council will channel some resources there to pave way. Would certain put down some fud over bitcoin energy uses.
  8. Gradually, then suddenly.

All in all, the bill is what every bitcoiner would have dreamt of. 13 years is all it took from Whitepapers to Pizzas to legal tender. Certainly a day to remember.

Which country would be next?

Leave a comment

close-alt close collapse comment ellipsis expand gallery heart lock menu next pinned previous reply search share star