Factbox: Pros and cons for El Salvador, the first bitcoin nation

Despite Bukele's popularity, the move has been greeted with skepticism by many Salvadorans who are concerned about the cryptocurrency's volatility and how his scheme will work.

Bukele said last month bitcoin would deliver "huge benefits" because it would allow Salvadorans to save on $400 million he said was spent each year in commissions for remittances.. Meanwhile, World Bank data shows that the dollarized Central American country's U.S. remittance costs are already some of the lowest worldwide.of cryptocurrencies, with the World Bank flagging such potential adverse affects among its concerns.

In June, rating agency Fitch Ratings noted that "capital gains will not be taxed and taxes can be paid in bitcoin, which could attract foreign inflows of bitcoin to the country. This may increase the risks that proceeds from illicit activities pass through the Salvadoran financial system."

Facebook = Fakebook ? Listen from President, USA !!! fakenews , Facebook

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2009 “Bitcoin? What’s that?” 2012 “Nobody uses it” 2013 “Only criminals use it” 2015 “Only nerds use it” 2017 “Only speculators use it” 2019 “Only small companies use it” 2020 “Only small countries use it” 2021 “Only a small percentage of the world uses it”

Great idea but might be too early. Wondering how many of the population have BITCOIN Wallets and the country's Central Bank monetary policy. With Bitcoin volatility, they might have no control. Anyway, why not experiment and see.

Be serious please 🤣

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