What do you think of El Salvador as the first country in the world to use bitcoin as legal tender?

What the world needs is not a distributed accounting system software, nor a so-called virtual currency that makes money internet, but a rigid rope that can tighten inflation under the background of bank credit expansion all over the world; In the context of the bursting of the global personal credit bubble, there must be a glimmer of hope to keep the decline of real estate. All these can only rely on the Internet economy credit creation management system, value commodity circulation management system and its social interdependence management system constructed by virtual capital. The authorities in El Salvador lost money in the deception of BTC. According to the Salvadoran people's abandonment of asset ownership, the price of Bitcoin recovered, and then they retired completely and became a wealthy American immigrant. For ordinary people in El Salvador, they just let it be exploited.

The essence of capitalism is self-management, but in the face of ordinary people with pure natural disadvantages, there is probably only one way to destroy. Why did social development occur in human history? Because human beings are gregarious animals and depend on each other, they can survive in the cruel nature. Once the society invented by human beings becomes an arena and a platform for collecting seeds, there is only one way for people to walk into nature and follow the laws of the dark forest. After BTC becomes the currency of El Salvador, it can be used to pay and pay the taxes of the host country. All goods or services cannot refuse to accept BTC, and virtual currency transactions are not subject to income tax. The US dollar will become the reference currency of the Bitcoin market, and the exchange rate between the two will be given to the sales market for arbitrary determination.

El Salvador President Nayib Bouclet also revealed that El Salvador also granted permanent residency to immigrants who invested in three or a large number of bitcoins in the project. At the same time, the government departments also issued bitcoin wallets for China citizens, and BTC managed them with US$ 654.38+US$ 500 million to bear the risks brought by the fluctuation of the bitcoin market. When El Salvador clearly put forward this decision, the International Fund and some countries kept warning that BTC now has no real price line support point and is easily affected by speculative financial activities. If trade is rashly regarded as the sovereign currency of a country, its price will fluctuate greatly, which is likely to cause serious crowding out of normal commercial trade.

The ups and downs of Bitcoin may completely destroy El Salvador's economy. El Salvador's current small dollar reserves and people's private dollar reserves will be eliminated. They will not only lose the stability of their local currencies, but also lack the normality of economic development trends. In addition, there are opposition parties and the masses who worry that this will become the best way for corrupt officials to evade money laundering verification. Generally speaking, for many small countries, their domestic financial systems are not as strong as traditional powers. They chose BTC as one of their sovereign currencies, in fact, the purpose is to attract overseas hot money to invest in their own countries, so this is also worthy of recognition. The first independent country to declare BTC as legal tender was El Salvador, a weak country in Central America. Recently, the finance minister of Costa Rica said in his speech that BTC should also be legalized. At this stage, it has not been implemented, and its new national financial system has not yet been established.