El Salvador may have just passed the law making Bitcoin legal tender – a historic first globally – though it could bring problems for them regarding trying to get that IMF loan that they want. Now you can buy a coffee for bitcoin in the central American republic. We have arrived at that point in bitcoin history when bitcoin becomes the norm. Other central American nations like Paraguay, Guatemala and Panama may follow suit soon, now that the first move has been made.

![beach vendor pixa.jpg](https://images.hive.blog/DQmeum7AYEx6xo7RvrWwQkjg5PojVnGzvJAMVRoxAaxMRfY/beach%20vendor%20pixa.jpg)

No one wants to be the first mover generally, but once the momentum is under way, many will follow, especially if it’s a way to avoid taxation or to sidestep draconian bans by the elite on these small nations using the dollar. If my bank and government ban any transactions around bitcoin, then I may not be able to even move my fiat from the exchanges back to my local bank. That would mean I can only use my sats directly. And that’s where El Salvador becomes attractive.

There is a place in El Salvador called Bitcoin Beach, on the west coast, just outside the capital, San Salvador, where they have been accepting bitcoin as legal tender since 2019 already. A private sponsor injected a few million dollars into the small tourist town’s infrastructure to provide bitcoin training and tech set up with like digital wallets, etc. Now the entire country is doing the same and the wave of adoption has arrived on their shores. https://www.bitcoinbeach.com/ 

What a pleasure to be able to pay for goods and services using bitcoin directly. Add to that the ability to send money home by overseas workers – without being taxed by middle men – and you have a million dollar industry unfolding. By avoiding those money transfer companies like Western Union that charge a hefty fee, locals in El Salvador are already benefiting from the introduction of bitcoin into their lives. By integrating the Bitcoin Lightning network users can send and receive bitcoin through their phones in real time. The system now exists for this kind of smooth and seamless transfer of bitcoin globally, on the ground. 

I hope this will set a president for other nations because the people who need it will benefit. We cannot allow banks and other middle men to scalp profits from the poorer people of this world. The people need to be protected from predatory bankers and financiers, and bitcoin is the people’s money, while fiat is the government’s money. 
Add to this the plan by El Salvador to use their volcanoes to tap into geothermal energy for the use of mining bitcoin and you have a further nail in the coffin of detractors who say it’s energy hungry or polluting to mine bitcoin. Geothermal energy is abundant and the environmental concern over bitcoin mining will soon be a thing of the past as these eco-friendly alternatives arise. 

I presume the implication is that the nation will need to buy a good amount of bitcoin for their reserves now, adding to the list of whales and institutions that are buying by the boat load. As sovereign nations become buyers and investors, we will reach the peak of bitcoin’s fame and desirability. One after another, more nations will add bitcoin to their balance sheets and naturally price will shoot to the moon.

Demand will increase as the use cases increase, and supply will continue halving every four years. The only way from here is up and everyone on board will benefit. If everything is priced in bitcoin, then it doesn’t matter quite as much if price fluctuates in dollar value. This will make bitcoin the new global currency, controlled by no single nation or bank.
 
Nations like Iran are also adopting more bitcoin use, especially since their fiat currency just massively collapsed to new lows against the dollar, thanks to sanctions by the empire. Obviously there may be nations who don’t like this idea – not for their citizens and not for their trading partners, so there could still be some push back from around the world. We will have to monitor closely to see how well this example by El Salvador takes off. I can’t imagine China will be too happy to adopt bitcoin use internationally just yet. 

Still, if you are keen to get out of the fiat system and break away from the corrupt and criminal banking industry, then you may be keen to migrate to Bitcoin Beach in El Salvador. I’m not sure what the travel requirements are but apparently you can get citizenship and residence in El Salvador quite easily as a bitcoin user. There may be the reputation of gangs and crime there but I have that in my country of sunny South Africa too already. And USA is going the same way anyway. 

I can easily swap one banana republic for another. The banana states of America are a burning dumpster fire right now in my opinion. I see these third world nations that leapfrog ahead and adopt bitcoin as the future rising stars while the old order collapses into a black hole or brown dwarf. Empires always collapse. Look at Spain, once the ruler of the west, or Britain. America is heading that way. It will never recover its former glory, which only lasted a few decades. The dollar will die with it. And El Salvador will celebrate the demise of that oppressor, while “the savior” (English translation of El Salvador) arises for the poor and oppressed in the form of bitcoin. 

(image pixabay)