Tight monthly range and El Salvador

A lot of economics is perception I think and a vendor in ES looks at the amazingly boring past month and thinks, Why should I bother converting the BTC I receive into dollars? I will hold and/or pay for things like utility bills (which I still do not know is possible or not in ES) with the BTC.

ES' GDP is a very large amount compared BTC market cap and I think ES will have a much bigger effect than halvening although this effect will be subtle as more and more BTC get tied up (in a good way -- i mean not changed into dollars, kept off of exchanges) in the wallets of small holders. This happens Satoshi by Satoshi.

It is even possible that we are right now observing this effect -- I would expect stability with an upward bias which we have seen for a very long time. This could really be from millions of Salvadorians holding perhaps on average a thousand bucks worth of BTC each.

If other Central American countries do the same thing as ES did, forget about waiting years for each Halvening -- we will see much more upward movement and sooner just from this much more natural and healthy circular BTC economies in smallish countries.

I do not know if there are figures on payments between countries available, but it would be fascinating to know if any commerce between ES and, say, Guatemala is currently conducted in BTC. If the amount is currently zero (because of laws and/or customary procedures) just wait until they do establish payment via BTC. Huge, I would think.

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