Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
The Salvadoran Minister of Finance, Alejandro Zelaya said that to get results with Bitcoin “you have to work”.
- “Bitcoin will not generate profits overnight,” said Minister Zelaya
- El Salvador’s Finance Minister Believes More Work Is Needed
- The opposition “wants us to go to bed poor,” he added.
Despite the fact that there is a strong matrix of opinion against Bitcoin in El Salvador, the government continues to defend the cryptocurrency. In fact, contrary to selling the cryptocurrency, President Nayib Bukele has continued to buy it. On July 1, the country acquired USD $1.5 million more in Bitcoin.
According to a report by the EFE news agency, El Salvador’s Finance Minister Alejandro Zelaya said last week that Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. no “will not generate profits overnight”. and that for “to get results”, “we have to work and look for implementation mechanisms”.
Bitcoin “is not a project that will generate profits overnight. The opposition would like us to go to bed poor and wake up millionaires and that’s impossible”, Zelaya said in an interview on a local TV station.
Although he did not elaborate on what the implementation mechanisms will be to make adoption more effective, he underlined the same idea as above:
“Results don’t happen overnight… We haven’t been generating losses because we haven’t been selling currencies when the index is going down.”
He added that “we have never tried to make Bitcoin exclusively a stock market an area or arena, online or offline, in which commercial dealings are conducted. asset, as its implementation is to reach bankability, help the economy and attract investors.”
Earlier last month, Zelaya had already reiterated that El Salvador “no losses” by falls in the price of Bitcoin has not sold a single one of those he owns. He noted that the fiscal risk from the implementation of the crypto-asset as a payment currency currency is a medium of exchange that defines value. alongside the US dollar is “extremely minimal”.
The Central American country has so far 2.381 bitcoins. According to the graphs of CryptoMarkets would be equivalent to USD $52.5 million at today’s prices.
Sources: EFE Agency, archivo
Version of DiarioBitcoin
Imagen de Unsplash