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    Author Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻  (Read 51175 times)
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    April 11, 2023, 11:18:51 AM
     #1321

    When a CBDC will be introduced, that thing is most likely not going to be an option and it also probably won't allow you to transfer any of your CBDC out of the network such that you can use your CBDC as you wish, let alone anonymously.

    CBDC, despite some possible technical similarities, is not nearly the same as the introduction of bitcoin, even if you take into consideration custodial Chivo Wallet. Because in El Salvador you can use any bitcoin, not only through Chivo. And CBDC implies complete and total control over all the money of citizens. The government seeks to decide whether a citizen can spend his money and on what. And it is much worse even than the existing model. So the decision of the government of El Salvador gives the Salvadorans much more advantages than any difficulties.
    One thing El Salvador have not done is to dive into shitcoining since their made the stand very clear about Bitcoin adoption and the whole developing in El Salvador have been bitcoin oriented which is something most significant for the policy, since they don't want to deviate from the original plan of making bitcoin the only legal tender in and among other cryptocurrency but aside from that El Salvador have been the most crypto friendly country's in contemporary time.

    So development of a CBDC is not capture in the El Salvador bitcoin adoption white papers and it has never been a topic of debate at whatever time, so there is no possibility of having a CBDC in El Salvador any moment or in the nearest future.

    That's right, and that's why we are comparing El Salvador's model with models of countries that are planning to implement CBDC. While the adoption of bitcoin opens up numerous opportunities for both Salvadorans and the El Salvadoran government, for those countries in which CBDCs are being implemented, the number of threats to citizens is growing dramatically. But an excess of state control also does not lead to anything good. We need a balance.
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