It's official. Bitcoin has officially become the legal tender of an actual country; El Salvador and the world will never be the same. Perhaps you are concerned that the price of Bitcoin has fallen on the same day as what is happening. But to that I say, if you didn't expect this to happen, you really don't know what game is being played right now. It's no longer a game of only people hoping to HODL or trade their way to life-changing cash. It became much more serious. Bitcoin is now a threat to world governments and also to the entire makeup of the world and the way it has been running for thousands of years. Governments and banks have always had power over people. When you control money, you control people. There are different ways they can do this. By inflating their own currency they can finance wars, irrational spending, governments can become bigger than they should be, banks hold the power. By making the currency smaller, people cannot increase their wealth and stay stuck in their 9 to 5 jobs.
That famous phrase; “first they laugh at you, then they ignore you, then they fight you and then you win.” We've clearly entered the “fight you” stage. There is a conspiracy theory floating around the internet today that I believe is completely true; that the IMF or the "higher powers" of the world wanted to make a big statement about Bitcoin and Salvador's big day. They wanted to demonstrate to other countries that Bitcoin is not stable, that it cannot be used to run a country. It was a warning to the rest of the world and also a punishment to El Salvador for ignoring the IMF's warnings.
In fact, the president of El Salvador actually called out the IMF in one of his tweets. Stating that they took advantage of the dip and bought more bitcoins; while potentially saving a million dollars doing so. While this tweet may seem quite simple on the outside, the president shows that the country has bought more BTC even as the price drops. There was a hidden meaning here. The real point of this tweet was directly to the IMF and other powerful players in the game. Signaling that El Salvador are not intimidated by the tactics that have been thrown at them, they will continue to be in the game, their determination as strong as ever and they are buying even more. The president could see what was really going on and you can be sure that other countries in a similar situation to El Salvador took note.
And that was to be expected. The first party to take this step always knew it would be a very difficult process. They go against everything and everyone. It won't be easy, but it will be worth it.
Now let's move on to the more exciting aspect of this new era. One of the biggest complaints about Bitcoin is that it cannot be effectively used as money for everyday transactions. Because it was too slow and expensive to use. A few years ago, the Lightning network, a second layer for Bitcoin, entered development. But there were still many complaints and doubts. They thought there was no adoption, it was too hard to use, it could never handle the usage that would be needed if Bitcoin was going to reach the heights we all expect. What a lot of people failed to see or realize was how young the lightning network is and also Bitcoin, that it is software that can and will be upgraded. Both are very young and still maturing. True, three years ago, lightning would not have been ready to handle the payments for an entire country. But now it is. If you have been in any bitcoin community today, there are numerous examples of using bitcoin and lightning in business with ease and absolutely no problems. Places like Starbucks, Pizza Hut, McDonald's and the list goes on and on.
Although this may not initially seem important to anyone living outside of El Salvador. Let me tell you why that is. These are large companies that have multiple stores around the world. If this test goes smoothly and I think it will. Then they will be ready and can easily roll this out to the rest of the stores. This is how it starts. Not only that, but other companies will be watching this play out. They will then be able to copy their approach and use it in their own store. Like how Michael Saylor actually did the blue print on how companies can buy bitcoins and put it on the bottom line. These are the companies that will pioneer the use of bitcoin lightning payments. It is only a matter of time before they bring it to other countries.
Always remember this. Powerful people or organizations already know the direction the world is going and so they take the actions that seem to have so much FUD. They hope that you will sell your bitcoins, that El Salvador will fail this huge undertaking, and that other countries will be afraid to do the same. It is clear as day the direction the world is going. It is not the dollar, the euro or the yen. It's Bitcoin. I just hope you've done your best to accumulate as much as possible, maintain diamond hands, and set up your portfolio for potentially life-changing gains.
What about you!? What do you think of Salvador's big day? Are you scared off by the price drop? Is Your Portfolio Ready for the Bitcoin Age?