Tag: Salvadors

The outlook of El Salvador’s crypto mining industry

[ad_1] El Salvador, the first nation to adopt Bitcoin (BTC) as legal tender, has recently announced the relaunch of its wallet app Chivo, which is supposed to patch the previous version’s stability and scalability issues. The update is welcomed news for the Central American country’s crypto experiment, which faced some hurdles and harsh criticism over the last few months. While much of the observers’ attention has been focused on aspects such as retail adoption of crypto and geopolitical implications of Bitcoin’s legal status in El Salvador, the progress of the…

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El Salvador’s Bitcoin Adoption Met With Small Protests

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[ad_1] Small groups of protestors have taken to the streets one week before El Salvador adopts Bitcoin as legal currency. According to Business Insider, protests against the Bitcoin law and President Nayib Bukele are becoming more common ahead of it taking effect on September 7th. The protesters’ reasons for objecting to Bitcoin adoption range from simple political opposition to President Bukele, to concerns about price volatility when denominated in U.S. dollars, to misunderstandings about the new law. The adoption of the law will be revolutionary, and has the potential to relieve…

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How El Salvador’s Bitcoin Law may change global finance – Cointelegraph Magazine

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[ad_1]   “Clearly, the thing that’s transforming is not the technology — the technology is transforming you.” Jeanne Ross, formerly of the MIT Sloan Center for Information Systems Research If El Salvador’s “Bitcoin Law” was “the shot heard round the world” for Bitcoin, then when the International Monetary Fund (IMF) and the World Bank questioned the legislation, it was the incumbent empire striking back.  However, if El Salvador can implement its Bitcoin Law despite numerous technical and legal hurdles, it may force changes upon the organizations that oppose it and…

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John McAfee tributes, El Salvador’s bold plans, altcoin fears

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[ad_1] Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   Remembering John McAfee: Computer programmer and crypto evangelist dead at 75 John McAfee was found dead in his Spanish prison cell hours after the country’s courts ruled that he could be extradited to the U.S. to face tax evasion charges. He was 75.…

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IMF plans to meet with El Salvador’s president, potentially discussing move to adopt Bitcoin

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[ad_1] The International Monetary Fund has said El Salvador’s recent decision to make Bitcoin legal tender in the country may raise legal and financial concerns. In a Thursday press briefing from the International Monetary Fund, or IMF, spokesperson Gerry Rice said the group was already in discussions with lawmakers in El Salvador over a loan to support the country’s economy, having approved emergency funds related to the pandemic last year. However, Rice said an IMF team would be meeting with President Nayib Bukele today and implied crypto would be a…

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