Posted on 09/18/2021 9:03:55 AM PDT by aMorePerfectUnion
El Salvador is complicated. They use US dollars. Makes it impossible to create more currency.
Their crypto solution will be tricky to pull off.
They intend to create a government Bitcoin wallet called Chivo, but you won’t own the bitcoins - just a claim on bitcoins. The concern is that the Gov’t will control this to create additional claims, in a sense creating more currency.
This goes against the essence of a non-governmental, decentralized crypto currency.
Plus these Central American poluticians always seem to skim off plenty for themselves.
Panama is different.
“Panamanian Congressman Gabriel Silva introduced a bill designed to provide “legal, regulatory, and fiscal certainty to the use, holding and issuance of digital value and crypto assets in the Republic of Panama.”
So this *proposed* law legitimizes crypto - not just Bitcoin.
So my understanding is that this would happen in addition to the dollar.
so a cellphone is will required, good luck wi that in hillcountry...
if a stone falls on the jug, it’s bad for the jug
if the jug falls on the stone, it’s bad for the jug
it’s always bad for the jug
the peons always get it in the neck
p.s. thx...
Interesting. Central America is sending their poorest and least educated to gringo land where the stupid gringos will pay for their care and feeding. Billions will be sent back in remittences where it will buy cryptos. Time to consider a move to Central America if you can.
Pretty easy to establish residence in Panama.
Panama and Costa Rica are the only places in Central America I would live personally
Honduras, Guatemala, Nicaragua, and El Salvador will be empty by the time Biden’s 4th term is over.
Hum, maybe I will see one bitcoin when it hits 150,000, one when it hits 400,000 and one when it hits 1M. The Etherum shall remain as an ever constant for my two boys.
Maybe this is the tipping point for the USD and America will default and try to impose the American Dollar across North and South America just as the Euro in Europe.
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