EL

FldLima

After california man, get ready for EL Paso Man

BTCPriest

Taxing bitcoin is not sustainable in the long run. You don't pay taxes on currency exchange either. The more countries make bitcoin legal tender the clearer it gets: Bitcoin is money. And it actually already is currency. So from my point of view it's not taxable actually. It will be interesting to see how the IMF acts mid-term and long-term with more countries to join EL Salvador's footsteps. If I understand it correctly, the IMF had to hold bitcoin to stick to their mandate already. If they don't it's a breach of contract and they could get sued. Tl;dr: In the long run I don't see bitcoin be taxed. It's a usual currency exchange.

OisinT

Am I correct that the EL element of Shanghai will allow for those of us who staked ETH for BETH (etc.) Can convert back to ETH? Last few weeks have been a but bum clenching with BETH on Binance given all the FUD.

AESTHTK

I see Aptos as genuine EL innovation, and it would make an excellent L2. Why they chose to roll it as an L1 and try to do consensus as well only they (and their VCs) will ever know.

AESTHTK

Don’t worry, apparently that was never meant to even be an EL and they never actually gave up on it and it was always meant to actually have been sidechains the whole time! You just aren’t paying enough attention. I suggest you go read some more outdated research papers. https://twitter.com/iohk_charles/status/1608288782297571330

Dogwise

Bitcoin will hit $100,000 in 2022 PREDICTED BY: EL SALVADORAN PRESIDENT NAYIB BUKELE, JAN. 1 2022

C_J_King

Seriously… I think captions could easily be different. It’s a STORE OF VALUE It’s INFLATION PROTECTION Look at EL SALVADOR! All the while, slowly becoming the lonely man on the hill. Hell, even Michael Saylor is selling. Bitcoin is the Netscape of blockchain.

Vladimus44

>If bitcoin doesn't go back up, those losses will be realized and even greater than they currently are so yeah that's not a good argument. Yep. Which is why this is called a paper loss and not a loss. Because it hasn't been realized yet. It's not an "arguement". It's a basic understanding of definitions and words. Which you clearly struggle with. >Also TOURISM? REALLY? WHEN EL SALVADOR CENTRAL BANK THEMSELVES STATED THEIR GROWTH WAS FOR THE EXACT REASONS I LISTED >HOLY FUCK YOU ARE DUMB Yea. No question. You are extremely emotionally unstable and definitely crazy.

MinimalGravitas

> As if any of them would ever run another code than the eth foundation makes There are 5 main Execution layer clients: Besu, Geth, Nethermind, Open Ethereum and Erigon; and 4 main Consensus layer clients: Prysm, Lighthouse, Nimbus and Teku. They are made by different teams, based in different countries and written in different programming languages. **None of them are produced by the Ethereum Foundation.** A node operator ones one EL client paired with one CL client (for example I use Nimbus and Besu), so there's a total of 20 different combinations. Your ignorant claims just illustrate that you haven't even bothered looking into the things you're so confidently railing against.

bbrreett4

I am thinking soon to have a decent size house in the EL Salvador.

Mono_420

Ethereum devs agreed on the scope of the Shanghai upgrade today. It’s going to be: - staked ETH withdrawals - big EOF implementation - warm coinbase - push0 - limit and meter initcode - time based EL forking Nice.

FlyBloke

People put money into china being the next financial state… ha let’s go EL Bitcoin!

ShowerWide7800

You got this all wrong COMPADRE... the fact that they are not in jail will make future frauds all the more EL GRANDE.

rocasv

ok, I AM SALVADORIAN, LIVING IN EL SALVADOR, so people outside stop taking Sh17 and let me tell you OUR STORY: \- Yes, Homicide rate indeed is almost at 0, unlike other places, El Salvador is a very small country, If someone is killed, chances are we will know and we will see it, Besides, Twitter is now the #1 tool for live crime news. \- How did this happen? NOT RELATED TO BITCOIN AT ALL. Its related to security and a heavy hand on criminals. What happened exactly? He dismantle the network for this criminals, as well as impunity, before, people where afraid to report a crime, cause chances were you were going to get killed by the gang cause the judge (paid judge) will let the criminals free. So, Now judges are now under a magnifier and everything is being watch. As well as the massive part of the gangs was arrested, YES, for years the police knew who they were and where they lived, but they were unable to act cause well... Mafias, political mafias, judge mafias, etc. Now people is not afraid of reporting a crime, right now people is using cameras A LOT, they record the criminals, report them and within 24 hours they are in jain (NO JOKE) you can check Twitter and the Nayib Bukele hashtag. All this cause a snow ball effect running down in this order: \- being part of gangs were declared to be crime by itself, so now the police can caught them all without an arrest order. \--- people started (just a bit) to lose the fear and started reporting gang members. \--- Judges were notified they will be audited on their gang cases \----- more gang members arrested (including top of the estructure members) and All their assets were taken by the state \------- gangs stopped getting money since their structure was weakened and they were a bit afraid of getting caught. People notices this and started reporting gang members all over the country. \--------- Police reports they have like 40K gang members in jail. This is were everything goes crazy, People started getting cameras to have proof and and start twitting the videos. ---> since police is way less stressed now (most criminals in jail) they are able to track criminals REALLY FAST and with all their force, almost 95% of twitter reports end up being arrested by the evening, the they started arresting every violent acts, even traffic fights are follow and arrested by the end of the day. Current situation: Well, YES, We Salvadorians, ALL are enjoying peace! finally! Still some minor issues, its impossible to be 0 crime, But they whole country feels super safe, thieves and remains gangs are in fear, so they are not committing crimes, instead they are hiding. You dont believe? COME, check it out by yourself! I bet you a Bitcoin. ​ Sadly, is very likely Nayib is killed by the US Government, They are declared enemies since he passed the Bitcoin law last year. many US Gov members already threaten him already. ​ AND this is the "El Salvador Lecture" done by a local Salvadorian.

Every_Hunt_160

Now would be the best time for these nations to buy Unfortunately they would be too afraid and will only start adoption in the bull run like EL Savador. Remember there were several Latin American countries that were supposed to start buying Bitcoin right after El Savador adopted it, and now when BTC is over 70% down nobody is touching it with a ten feet pole.

weirdlybeardy

This is already a fuck up. They’re lightweight following in EL SALVADOR’S footsteps.

partymsl

Relative to EL Salvadors other assets this loss is not much at all. As said BTC is not that big in their reserves.

yourmom_fat_as_hippo

I know this is going to be downvoted so badly. We all are in this echo chamber, and hence, we don't realise that the decision of El-salvador to accept BTC as legal tender is as bad as an abrupt decision taken by any country to ban cryptocurrency. It was done without considering the people's opinion on the matter. Though, it's good for crypto and we are happy, the decision of taking a decision without proper consultation was very bad. Multiple sources and surveys have shown that 78% of EL-salvadorians think that government should stop spending public money on Bitcoin. link: [https://cointelegraph.com/news/77-1-of-salvadorans-surveyed-think-the-gov-t-should-stop-spending-public-money-on-bitcoin](https://cointelegraph.com/news/77-1-of-salvadorans-surveyed-think-the-gov-t-should-stop-spending-public-money-on-bitcoin) >Although there was no direct causal link between the adoption of Bitcoin and the country’s economic situation, 95% of survey respondents say their lives “stayed the same” or “\[have\] gotten worse” since Bitcoin became legal tender.

ArtyHobo

Uhhhh usually incompetence. Disclaimer 1. Agreed-upon procedures performed by KPMG were performed according to EL PG14. Agreed-upon procedures do not constitute an audit. 2. Agreed-upon procedures were performed on a defined date and therefore the described results of KPMG are only valid for this date. 3. Cybercrime or other errors due to fraud which could happen in any organisation were not part of the agreed-upon procedure by KPMG. But yeah funds are safu trust KPMG

jabiscus

REVISITING EL SALVADOR A YEAR AFTER ITS BITCOIN ADOPTION [https://bitcoinmagazine.com/el-salvador-bitcoin-news/revisiting-el-salvador-bitcoin-year-later](https://bitcoinmagazine.com/el-salvador-bitcoin-news/revisiting-el-salvador-bitcoin-year-later) ​ "We walk through the entrance to the mall into a large lobby and our faces light up. There must be at least a dozen telephone kiosks. We start asking. We don't give a damn about the rates or phone plans, all we need is connectivity. Unfortunately, however, no one wants our bitcoin. We go upstairs and then upstairs again. There are dozens of little stalls selling phone recharges, cheap smartphones, accessories and electronics. But no dice. When we say we can only pay in bitcoin they look at us in amazement. They are very polite and almost all apologize. But they react as if the very word “bitcoin” is something that belongs to a distant memory. As if it is something they haven't heard of in a very long time."

jwz9904

EL Salvador is quiet

cistacea

I am in el salvador and yes, i think the publicity element of this move was the driving motivation, and it has immensely benefited our nation. even if bitcoin crashes and burns in EL Salvador, Bukele has managed to rebrand our international image from ''the murder country'' to ''that silly bitcoin country with the silly crpyto bro president'' which is a massive leap forward for our image in the eyes of the world.

Arijan101

EL Salvador's crypto bro president, N. Bukele, had the BTC he bought with state money on FTX.🙄 This is besides the fact that his investment is now worth half then what he bought it for. You cannot make this stuff up.

khaze001

Well congratulations to EL SALVADOR, the country has dodge a bullet. The ponzi played by SBF has really affected alot of users and cost investors billions of dollars, I feel for the investors who lost their money and hope they get the courage to get back up again, we have all learned another lesson we need to track the exchanges we use and make sure they continue to be reliable and safe for our assets which from my research MEXC and binance are the best destinations

10CrackCommandments-

Can someone EL5 what "Transactions" are actually on the blockchain since it doesn't seem like anyone actually uses crypto to buy anything. Are these "transactions" just people selling tokens to each other?

StockTrix

Also from UK. I'd agree with you. But the problem is, banks are so dumb,. They'd probably lump [gate.io](https://gate.io) in with other CEXs and ban the lot of 'em - which wouldn't be good. RE: https://www.reuters.com/news/picture/santander-to-block-uk-transfers-to-crypt-idUSKBN2RU1EL

Pedra87

EL TIO with the pump... Come on boy, you still have a lot to climb!!!

Technical_Order7673

Do you need someone to carry your stuff to EL Salvador ?

Sashablinks

EL savador's love for bitcoin is cool.

Ok-Regular-302

Because the President of EL Salvador wanted some fame at global level

Nicks_WRX

EL Salvador continues to DCA.

AESTHTK

You can’t stake by yourself unless you run a full node and hardware with an EL and CL client. In Cardano you can’t stake unless you run a full node, SPO infrastructure, key management and relayers. You’re confusing delegation with staking.

heisgero

Talking about fun blockchain games check out Cosmic Champs The [Trailer ](https://youtu.be/Y-EL9_tUyVI) is simply amazing 🔥

jewbagel10

EL Tio!!!

Grey___Goo_MH

Oh no a tiny fraction was invested in bitcoin oh the fud It’s EL Salvador no one would even be talking about this country otherwise and again even for a poorer nation it’s just a fraction of their assets

AESTHTK

It’s much easier to become an Ethereum validator using renewable energy. We’re seeing benchmarks of different EL and CL client combinations coming in at around 20-25w.

DryCarpet4589

In 2024 el Salvador will change name to EL LAMBODOR

AESTHTK

In terms of global carbon reduction, working on the Ethereum merge has been one of the most significant things an individual could have done in terms of personal impact over the last 12 months. Full credit to the ten separate EL and CL teams that made this happen.

macropolos

There's a few counterpoints to lightning: 1) Lightning requires pre-funding of payment channelsfor (currently) very little financial reward. Which makes it workable for small payments, but not great for large cross-border transfers. Which begs the question, why not just use fiat/visa(which already works quite well for buying groceries, coffee, etc.) 2) Both parties must be online or a payment will fail. 3) Lightning is also not very reliable. When CNBC used it in EL Salvadore, they reported cash deposits took anywhere between 2.5-8 hours for the BTC to be converted. And both of their attempted commercial transactions failed: https://twitter.com/SquawkCNBC/status/1514556001231511553

Castr0-

Interesting to follow everything that is happening with BTC and EL Salvador. We can take good thoughts from here.

WreckingSeth

Arsenal v Roma Is coming in EL

Castr0-

I just hope things go well with EL Salvador they deserve that. I just hope everyone learn that is not only good decisions what we need we need more education and knowledge.

ec265

You’ve interpreted this incorrectly Bell attic gets the CL ready and Paris gets the EL ready, but TTD is 15th/16th

rusnew

This is crazy stuff. EL O EL. If anyone wants to learn Web3 development, check out Bootcamp platforms like [metana.io](https://metana.io), they provide a strong guide to everything Web3-centric. There's a job guarantee in this space too.

coinfeeds-bot

tldr; The Merge mainnet sequence is engaged. Bellatrix on Consensus Layer and Paris on Execution Layer will initiate the Merge transition. Stakers, infrastructure providers, users, and community members must upgrade to EL+CL Merge-ready nodes before September 15, 2022. All infrastructure providers and users should upgrade their nodes before this time. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

NeuroDS

* \[2022/08/18\] – TTD reassessed and finalized on All Core Devs call * \[2022/08/18 to 2022/8/22\] – EL and CL teams cut Mainnet software releases * \[2022/08/23\] – Client resources, EF blog, and other community and infrastructure announcements of final parameters and releases * \[2022/09/06 11:34:47am UTC\] – Bellatrix Mainnet upgrade All stakers must upgrade to EL+CL Merge-ready nodes before this time All infrastructure providers, users, and community members should upgrade PoW nodes to EL+CL Merge-ready nodes before this time * \[Estimated: 2022/9/15\] – Paris Mainnet Merge transition All infrastructure providers, users, and community members must upgrade to EL+CL Merge-ready nodes before this time. Plan on configuring systems at least one week in advance and ideally before Bellatrix

Castr0-

BTC and EL SALVADOR name a better duo

Castr0-

We will not forget what EL salvador did for crypto and BTC. They are the ones.

coinfeeds-bot

tldr; The Sepolia testnet will undergo a post-merge execution layer (EL) upgrade at block 1735371, expected on August 17, 2022. Sepolia node operators must upgrade their execution layer client prior to the upgrade. A similar upgrade is expected on Goerli and the Ethereum mainnet once these networks have transitioned to proof-of-stake. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

NeuroDS

* The Sepolia testnet will undergo a post-merge execution layer (EL) upgrade at block 1735371, expected on August 17, 2022 * The upgrade will cause EL clients on the network to disconnect from peers which have not transitioned to proof-of-stake. It does not add additional functionality beyond this. * Sepolia node operators must upgrade their execution layer client prior to block 1735371. * A similar upgrade is expected on Goerli and the Ethereum mainnet once these networks have transitioned to proof-of-stake

jwz9904

EL Tio showing class! real life partnerships!

Due-Session-4608

ELON is an amateur, don't offend the apes community. We HODL to the stratosphere if we need, and we call WALL STREET by its true name: EL CASINO

greenappletree

you are welcome. Here is a quick EL5 in case you might find it useful. All crypto works by a pair of private and public key. Think of a public key as something can only deposit while the private key can actually can can open it. However the private key is long and ugly so developers has come up with something call a seed phrase that can be use to generate the private key. Think of it as a human readable key. Ok once this key is generated the wallet can then generated an unlimited amount of public key ( your wallet address eseentially ) this is called derivation and each wallet might have a different slightly different way of deriving it. Putting it all together, when you get a ledger/wallet it generates the private key for you and from there for each coin it will derive different public addresses. so if you think about it, you should be able to send your avax coins in your old "hot" wallet ( assuming you have the old seed phrase activated) to the ledger without connecting the physical ledger, only when you want to send "unlock" or sign a contract then you would need to connect it and physically confirm on the ledger. maybe this will help 😎

bitusher

This is in my country and its not just this coffee shop in Dominical but many businesses, here is a small directory of local businesses accepting bitcoin. You are correct that other businesses accept Bitcoin as well , and not just this list but many people at the multiple farmers and trade markets too. https://maps.bitcoinjungle.app/ FYI- from the businesses I spoke to here are some facts : 1) They say that ~2-4% of their sales are in Bitcoin , which would make sense since that is similar to the global adoption. I will purposely only try to spend in bitcoin businesses and tell the shop owners that it benefits them because it encourages loyal repeat clients spending and replacing their BTC at their establishment 2) This is an attempt to replicate EL Salvador's Bitcoin beach and to encourage more adoption as bitcoin as p2p money. The creators use a multisig with the bitcoin jungle app for better security and providing support and liquidity somewhat like what HAL suggested to bootstrap businesses but can withdraw at any time. I also educate businesses about self sovereignty instead of this custodial wallet that uses btcpay as the backend for merchant processing . 3) The businesses I speak to keep their BTC , and do not sell it for fiat which is very wise especially since we are in a bear market . 4) Merchant processing fees for visa/mastercard are much higher in this country than the USA (~%5.5 + additional fees minimum, thus it comes to ~7-8% in fees and if they Use BAC for discover and amex its higher) thus accepting lightning not only removes the risk of fraud and charge backs but many fees for local merchants. this is why local merchants often give discounts for paying "en efectivo" 5) I know of a few homes in Costa rica that have been sold for bitcoin as well. Costa Rica is very affluent and safe these days and most of the nicer property has been sold. Let me know if you have any other questions. ------------------------------ u/EstateTraditional728 The wallet they use is the bitcoin jungle wallet with a backend of btcpay . They can accept onchain or lightning but everyone pays with lightning due to the instant and private confs for a fraction of a penny in fees

Muppet1616

It's like asking a Dutch person whether they'd prefer their supermarket to accept Visa credit cards (they generally don't) or not. Nearly everyone would answer yes to that question. However nearly no one would choose what supermarket they'd go to based on that (even if they answered that they'd prefer their supermarket would), because ultimately nearly no one uses visa credit cards for regular purchases and because of that ultimately they don't care about it. And again I'd say bringing up an example that captures like 0.001% market share of all transactions shows how little people care, also I find it funny how often Central and South America are hyped up in regards to crypto market penetration even though all the big projects have largely failed like for example EL Salvador's Chivo.

jwz9904

EL tio will return

Speedevil911

Is BTC EL Salvadors currency?

Intelligent-Salt2309

now why would i want to send my hard earnd mony to EL SALVADOR? TIME TO THROW KITCHAN SINK INTO SHORTIMG BIT COIN TOO 1 $

GeneralChaos309

Why do you think Bitcoin would be adopted more widely? Frankly, I don't see it happening unless some huge event changes that. Currently, FIAT is easier to use and getting into the bitcoin space requires effort. The more complicated you make a system, the harder it is to get adopted by the masses. Furthermore, If I am trading FIAT for BTC on an exchange, I actually lose money as the exchange will always tack on fees or give you a poor spread exchange rate. Further motivating me to use fiat. Just look at El Salvador, BTC was made an official currency but almost no one does transactions in BTC. And why would they? They are used to using USD everywhere and the properties that Bitcoin possesses doesn't solve any problems that EL Salvadoreans are having. The biggest problem anyone has there is to get *money in the first place*. No matter if its BTC, USD, or whatever. Sorry if this sounds like FUD, but I'm currently starting to have doubt about Bitcoin.

DiamondDallasHands

“I'm not alone because microstrategy lost $1.2 billion, EL Savador loses 50 million USD, Tesla lost 300 million dollars, And are you lonely?” From one of the top posts of the week over… the delusion…

DiamondDallasHands

“I'm not alone because microstrategy lost $1.2 billion, EL Savador loses 50 million USD, Tesla lost 300 million dollars, And are you lonely?” From one of the top posts of the week over… the delusion…

AblePaleontologist0

While the people of EL Salvador will understand eventually in the future, that BTC was a right invt, but, Its maniacal, how a president sitting in a comfy place, after having fucked up the economy, tells people to be patient.

JohnyMaybach

EL OH EL - “the floor is lava indeed!” Glad I’m sitting on the coach watching it burn 🔥

ohmygoodstuff

[Video (Twitter)](https://twitter.com/wotterdog/status/1536797391239540736?s=21&t=quauB1EL7XygBmRyDf95eQ) Your comment inspired me to create a 15sec video of the final design

BiggusDickus-

EL Salvador and institutions are ready to soak it up at discount prices.

DudeIncogneto

You don't need internet infrastructure when EL Salvador has ample coverage by mobile providers. It is similar to how many countries in Africa skipped traditional land lines in favor of building cell phone towers in the early 2000s.

0xNLY

The Nethermind issues were known and flagged in advance by that team. People don’t realise, this isn’t a single team, it’s nine completely independent teams with 20+ combinations of EL/CL pairs. It’s extreme decentralisation and redundancy that’s being tested for. A lot of Cardano people are jumping in trying to deliberately frame it as “a complete failure” without understanding what they’re actually talking about.

0xNLY

The Nethermind issues were known and flagged in advance by that team. People don’t realise, this isn’t a single team, it’s nine completely independent teams with 20+ combinations of EL/CL pairs. It’s extreme decentralisation and redundancy.

Soupapinho

At least LTO is trying to make me smile. Go EL TIO!

LoveBitcoinBabe

I was an active drug user that actually used silk road. Getting my drugs in the mailbox vs on the corner of some ghetto is 10,000% safer. Women especially my god...so many women get raped and forced to so god knows what for drugs even when they have money... "nah you can only have this if you let me fuck" and as a drug addicted person... they have no choice anymore their minds require the drug. Ross prevented rapes and robberies and murder from happening by offering a safe alternative to acquiring drugs. The drug war is a fucking FAILURE. The site had other things but 95% of it was straight up drugs. Very little of the other aspects were even used. If you think hitmen and money laundering went away because of his site going down, then I got a bridge to sell you. He got caught. He's a criminal without a doubt. Giving him more time than fucking EL CHAPO!?!?! Literally fuck you if you think the already 10 years he spent in jail isnt enough. He never hurt anyone directly. If you wanna imprison people who indirectly kill people then Jesus Christ you better het Obama and Bush Jr in a cell RIGHT NOW. For life. Fucking casual... you think you're a virtuoso, but you're a misinformed tool.

evertonhs1

Yeah but EL Salvador is facing a tough crisis in this dip, president is still having chill

waxminer

Adoption is always in the pipeline for Bitcoin and recently 44 countries met for Bitcoin adoption, and it's really beneficial if they follow the path of EL Salvador, let's hope Bitcoin goes high further

calvin_onmura

All airlines who want to make some Money will fly to EL Salvador, because they don't want their airplane and pilots to sit idle, they will make sure they are getting enough tourist to visit this city

the_2_jammer

We saw these same lines few years ago and that time also people said Bitcoin will fail Or boom but now we are having high adoption as compared to 2017-18, a country like EL Salvador is also adopting Bitcoin and few more countries will also joined

nino262596

Some government like EL Salvador will help in adoption of Bitcoin

hamstorg1

Tax laws are going to be different for all of us, we need more EL Salvador

PreventableMan

Sure. That would be good, but looking at e.g. EL Salvador, that's not how they use it for the people

luukdrent

This support is not going to break because many institutions have their buying price at 30k, if we go below this then EL Salvador and Micro strategy will be the biggest loser of all market

ghosn2013

EL Salvador is not going to care about the crash they are still buying BTC

freedom_from_factism

The deal is way too many people EL5ing themselves through the cryptoverse then crying with market fluctuations or when things go south with shady projects.

Independent-Snow-129

"Mind recognize not limit, Neither does his reach! Heave anchor ...! This ship of fools is about to embark! " EL PSY CONGROO

hanhan0346

That's true for now, but if you see some countries like EL Salvador, they are adopting Bitcoin, and if BTC becomes stable in future, we will see that it has replaced fiat at many places and people are now buying with Bitcoin, because cash is outdated now

turbosecchia

Rate my portfolio: LUNA: 40% IRON / TITAN: 20% EL Salvador Volcano Bonds: 10% UST (for buying dips): 30% Feeling very safe, full of stable coins!

TheRixstar

Wheres El Salvador? What is this country, is it the alter ego for EL HODLADOR!!!!

lag0255

EL Salvador has potential to become the Crypto hun in future where it will be tax free and people can invest their money in Crypto, just make sure you have enough Bitcoin to survive there, it's a good tourist destination as well