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CryptoCurrency Discuss all CryptoCurrencies / coins and their use for personal or business purposes. Bitcoin (BTC) is possibly the best known but there are numerous crypto currencies, this is the forum to discuss them all.

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  #1  
Old 09-20-2021
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Default Ecuador residents and citizens

Halloween comes early for them!
Will that free US$30 they receive from the government offset their loss??
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  #2  
Old 09-20-2021
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Default Re: Ecuador residents and citizens

Maybe give us a bit more info to make sense of the post.
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  #3  
Old 09-21-2021
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Default Re: Ecuador residents and citizens

On a sidenote, Ecuador was a nice country to visit - recommended
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Old 09-21-2021
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Default Re: Ecuador residents and citizens

WTF are you talking about, agent?

Our own government has been handing out free money like it's candy for 2yrs now.
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  #5  
Old 09-21-2021
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Default Re: Ecuador residents and citizens

sORRY,IT IS EL SALVADOR NOT ECUADOr.
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  #6  
Old 09-22-2021
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Default Re: Ecuador residents and citizens

Quote:
Originally Posted by agent006140 View Post
sORRY,IT IS EL SALVADOR NOT ECUADOr.
That's much clearer El Salvador made bitcoin an acceptable recognized tender recently
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  #7  
Old 09-22-2021
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Default Re: Ecuador residents and citizens

More info needed.
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  #8  
Old 09-22-2021
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Default Re: Ecuador residents and citizens



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  #9  
Old 09-22-2021
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Default Re: Ecuador residents and citizens

I wonder how the retail shops like accepting bitcoins?
Do the whoelesalers/manufacturers accept bitcoins?
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  #10  
Old 09-22-2021
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Default Re: Ecuador residents and citizens

Apparently if they have the technological capacity to accept it they must since BTC is now legal tender.
Problem with mass adoption on every level would be the fact that according to a recent survey 54% of the population there is not familiar with Bitcoin...
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Old 09-23-2021
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Default Re: Ecuador residents and citizens

Quote:
Originally Posted by agent006140 View Post
I wonder how the retail shops like accepting bitcoins?
Do the whoelesalers/manufacturers accept bitcoins?

The fees are outrageous so they're probably not liking it very much. BTC mining fees are so high now that BTC isn't practical for anything other than 4 digit or higher transactions. Litecoin is much faster, cheaper, scalable, etc. .onion's switched from BTC being the primary currency to LTC or XMR about a year ago due to exorbitant BTC mining fees.
Seems this country jumped the gun and adopted crypto as an option before it was ready.
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Old 09-23-2021
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Default Re: Ecuador residents and citizens

Pretty sure the local rich enjoy it as a Store Of Value. Highly doubt anyone is buying coffee with it. When average people see what that 30$ turns into over the next few months im pretty sure they too will understand store of value no matter IQ. Everyone understands and gets dopamine release from Number Go Up. Its called game throry.
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  #13  
Old 09-23-2021
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Default Re: Ecuador residents and citizens

Quote:
Originally Posted by phaz0rz View Post
The fees are outrageous so they're probably not liking it very much. BTC mining fees are so high now that BTC isn't practical for anything other than 4 digit or higher transactions. Litecoin is much faster, cheaper, scalable, etc. .onion's switched from BTC being the primary currency to LTC or XMR about a year ago due to exorbitant BTC mining fees.
Seems this country jumped the gun and adopted crypto as an option before it was ready.
I think they're on the lightning network

No fees bruh
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  #14  
Old 09-23-2021
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Default Re: Ecuador residents and citizens

When Bitcoin dropped to $41K,El Salvador government picked up some.
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  #15  
Old 09-23-2021
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Default Re: Ecuador residents and citizens

The amount theyre picking up is negligible...
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