4 ms·

it seems like there is an "is xyz up" webpage, so someone jokingly created one for El Salvador , however meaning "up" as in their BTC holdings in US Dollar amou

by PcChip 4y ago

it seems like there is an "is xyz up" webpage, so someone jokingly created one for El Salvador , however meaning "up" as in their BTC holdings in US Dollar amounts

Jolter 4y ago
That’s the obvious part. But what the heck is El Salvador (the country)’s relation to Bitcoin?
- codetrotter 4y ago
  > El Salvador became the first country in the world to use Bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021. https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador
- fosefx 4y ago
  https://www.bbc.com/news/world-latin-america-57398274 https://www.bbc.com/news/world-latin-america-57398274
- gamegoblin 4y ago
  In 2021 they adopted it as legal tender [1]. Finance observers such as patio11 have commented "Tether's interactions with El Salvador might be the boldest Bond villain plot ever executed in real life. [..] They're using a sovereign nation as the cash-based business to intermix their dirty funds flows in, and daring the feds to see what happens if they cut them off." [2] [1] https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador [2] https://twitter.com/patio11/status/1493033725524799489 https://twitter.com/patio11/status/1493033725524799489
  - deleted 4y ago
    [deleted]
- spywaregorilla 4y ago
  El Salvador very publicly invested in bitcoin for the country's future. It didn't go well.
- deleted 4y ago
  [deleted]
- justusthane 4y ago
  Seems the president, Nayib Bukele, is into Bitcoin: https://www.nytimes.com/2022/07/05/world/americas/el-salvador-bitcoin-national-currency.html https://www.nytimes.com/2022/07/05/world/americas/el-salvado... Also, the first linked source on each "buy" on the IsElSalvadorUp page is a tweet from the president announcing that they've bought more BTC.
- rchaud 4y ago
  The head of state declared BTC legal tender last year (ES' official currency is the USD). ES has been accumulating BTC since then, even as the price continues to drop.
- pessimizer 4y ago
  Questions like this can be answered by searching "El Salvador bitcoin".
  - Jolter 4y ago
    No need. I got five informative answers before your snarky one. But thanks for the advice anyway!

by PcChip 4y ago

it seems like there is an "is xyz up" webpage, so someone jokingly created one for El Salvador , however meaning "up" as in their BTC holdings in US Dollar amounts

Jolter 4y ago

That’s the obvious part. But what the heck is El Salvador (the country)’s relation to Bitcoin?

codetrotter 4y ago
> El Salvador became the first country in the world to use Bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021. https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador
fosefx 4y ago
https://www.bbc.com/news/world-latin-america-57398274 https://www.bbc.com/news/world-latin-america-57398274
gamegoblin 4y ago
In 2021 they adopted it as legal tender [1]. Finance observers such as patio11 have commented "Tether's interactions with El Salvador might be the boldest Bond villain plot ever executed in real life. [..] They're using a sovereign nation as the cash-based business to intermix their dirty funds flows in, and daring the feds to see what happens if they cut them off." [2] [1] https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador https://en.wikipedia.org/wiki/Bitcoin_in_El_Salvador [2] https://twitter.com/patio11/status/1493033725524799489 https://twitter.com/patio11/status/1493033725524799489
- deleted 4y ago
  [deleted]
spywaregorilla 4y ago
El Salvador very publicly invested in bitcoin for the country's future. It didn't go well.
deleted 4y ago
[deleted]
justusthane 4y ago
Seems the president, Nayib Bukele, is into Bitcoin: https://www.nytimes.com/2022/07/05/world/americas/el-salvador-bitcoin-national-currency.html https://www.nytimes.com/2022/07/05/world/americas/el-salvado... Also, the first linked source on each "buy" on the IsElSalvadorUp page is a tweet from the president announcing that they've bought more BTC.
rchaud 4y ago
The head of state declared BTC legal tender last year (ES' official currency is the USD). ES has been accumulating BTC since then, even as the price continues to drop.
pessimizer 4y ago
Questions like this can be answered by searching "El Salvador bitcoin".
- Jolter 4y ago
  No need. I got five informative answers before your snarky one. But thanks for the advice anyway!