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Bitcoin becomes legal tender in El Salvador in less than 3 weeks. What will this look like?

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by COINS NEWS 251 Views

On September 7th, El Salvador will officially become the first country to accept Bitcoin as legal tender for all payments nation-wide. I'm really curious what this will look like. Will there be a steep learning curve for businesses and average citizens? Will they adapt quickly?

I'm hopeful that this is successful and spurs other countries to adopt it. This may not be an apt comparison, but in the United States we have several states that have now legalized marijuana that I don't think would have if not for the fact that other states did it first and didn't have disastrous consequences.

I'm thrilled it's happening but am worried about the possibility that the rollout being done hastily or not going well and thus setting back crypto implementation. Since no one has to use crypto, I'm guessing that anyone who doesn't want to can still use their fiat currency and September 7th will be no different from September 6th. However, if they see people who want to use it, use it at stores and have no hiccups, perhaps it will help demystify and make it seem like actual currency and not "pretend Internet money"

Anyone who has followed this more closely and has a better understanding of this, I'd love to hear your thoughts.

submitted by /u/R0B0C0P33
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