Caitlin Long is also seeing these implications: https://twitter.com/CaitlinLong_/status/1401334433811251201

And for those who think the US may be able to pressure President Bukele Ortez out of this historic decision, check this out:

http://www.elsalvadorperspectives.com/2021/05/us-el-salvador-relations-hit-new-low.html

He is clearly charting an independent foreign policy trying to balance Chinese, Russian and US influence.

I've done a further deep dive into this topic https://peakd.com/elsalvador/@apshamilton/el-salvador-and-btc-deep-dive-on-momentous-impacts

I had no idea it was this huge or would have global tax implications until you told me!

That is a great point you have raised here and believe the majority of people have no clue about these implications. This is probably one of the biggest steps Bitcoin has ever made and the Fudders must be speechless lol.

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Wtf, this is amazing. Ortez is not the hero we asked for or deserved, he is even better than that. wtffff

Wait... Is this accurate?

https://twitter.com/valkenburgh/status/1401505767082110976

Doesn't this mean things will be worse in some countries? In my country, this is actually amazing, though. Tax over bitcoin will be reduced from like 15%+ to around 0.5%. Also, how exactly would this mess with China's recent ban, if they are forced to accept it as payment again? Maybe this is an attempt at countering China's move. Ugh, so many things involved. Maybe the market is bearish right now *because* of this. There is a chance this works against holders in major countries, if they have an opposite policy to our own less-powerful, dollar-craving countries when it comes to foreign taxation.

Was a Quick way from https://www.bitcoinbeach.com/ to law 😎

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Por fin un poco de cordura!

That may change things in Israel and in other countries of the world. I don't think that will produce a chain reaction favorable to the validation of Bitcoin as legal but what can provoke if isn't implemented in other countries is to boost El Salvador as a tax haven for crypto. Bukele isn't a politician that I like but I've to admit that this is a clever move.

Congrats this was the most viewed post on all of https://peakd.com/ on the day it was released.

It's easy for the establishment to dismiss  this as some kind of populist move
 But  consider that he's also made adequate moves to insure against a ban on the currency by neersayers who claim blockchain is not ecological by using volcanic natural resources to generate electricity. That suggests a leader who is a deeper and more strategic thinker than the label populist suggests.  Adopting bitcoin as national currency is a briliant move with limited downside.  The West will be forced at some point to adopt it and he's getting his country in at a lower price and the wealth will dissipate to all  socioeconomic  levels, as long as they have a crypto wallet.
. This will  also naturally generate more consumer friendly  bitcoin interfaces.  It's a brilliant political economic move. Thank-you  @apshamilton for this great post and illuminating us with this important news.

It would be cool if they made a legal tender physical gold coin to commemorate the occasion. Kind of like the Casascius coin, but from a government mint.