EL Salvador accepts Bitcoin as legal tender
This is grand! The first country to see Bitcoin as legal tender has voted for it with a large majority in parliament on June 8, 2021.
This is where we see money and state separating. Many countries will now soon follow. 3 candidates have already applied. Paraquay, Panama, Tonga, many names are already doing the rounds.
In EL Salvador, Bitcoin will be used to make all possible payments, from paying for your coffee (with lightning network) to taking out a mortgage and paying taxes.
A large part of El Salvador's gross national product is remittances. The transaction costs and fees are now 30% of the amount with #Bitcoin, this goes to almost zero.
Good times for a beautiful country.
