{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=EN-GB&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=El+Salvador+Bitcoin+Law%3A+90%25+have+poor+crypto+understanding&text=While+the+news+of+El+Salvador%27s+new+Bitcoin+Law+is+supported+by+the+Bitcoin+community%2C+citizens+might+not+feel+the+same+way.&text=Digital+currency+history+has+been+made+as+El+Salvadore+becomes+the+first+country+to+recognise+Bitcoin+as+legal+tender.+Passing+the+Bitcoin+Law+three+months+ago%2C+the+government+of+Central+America+has+received+massive+support+from+the+Bitcoin+community%2C+but+not+necessarily+from+the+nation%27s+citizens.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0ASeptember+7th+marks+a+new+landmark+day+for+Bitcoin+as+the+day+the+first+country+to+accept+the+cryptocurrency+as+legally+recognised+tender.+The+president+of+El+Salvador%2C+Nayib+Bukele%2C+remarked+earlier+in+the+day+yesterday+that+%23BitcoinDay+in+the+country+is+where+the+country+sets+to+%22%3Cem%3Emake+history%22%3C%2Fem%3E.%0A%3Cblockquote+class%3D%22twitter-tweet%22%3E%0A%3Cp+dir%3D%22ltr%22+lang%3D%22es%22%3E3+minutos+para+hacer+historia.%3C%2Fp%3E%0AIn+3+minutes%2C+we+make+history.%3Ca+href%3D%22https%3A%2F%2Ftwitter.com%2Fhashtag%2FBitcoinDay%3Fsrc%3Dhash%26amp%3Bref_src%3Dtwsrc%255Etfw%22%3E%23BitcoinDay%3C%2Fa%3E+%3Ca+href%3D%22https%3A%2F%2Ftwitter.com%2Fhashtag%2FBTC%3Fsrc%3Dhash%26amp%3Bref_src%3Dtwsrc%255Etfw%22%3E%23BTC%3C%2Fa%3E%F0%9F%87%B8%F0%9F%87%BB%0A%0A%E2%80%94+Nayib+Bukele+%F0%9F%87%B8%F0%9F%87%BB+%28%40nayibbukele%29+%3Ca+href%3D%22https%3A%2F%2Ftwitter.com%2Fnayibbukele%2Fstatus%2F1435120030245662722%3Fref_src%3Dtwsrc%255Etfw%22%3ESeptember+7%2C+2021%3C%2Fa%3E%3C%2Fblockquote%3E%0A%3Cscript+async%3D%22%22+src%3D%22https%3A%2F%2Fplatform.twitter.com%2Fwidgets.js%22+charset%3D%22utf-8%22%3E%3C%2Fscript%3E%0A%3Ch2%3E%22Bitcoin+Day%22+met+with+obstacles%3C%2Fh2%3E%0ADespite+that+the+law+was+passed+three+months+prior%2C+the+day+did+not+run+smoothly+as+the+state-issued+Chivo+wallet+hit+server+errors+by+bulk+transactions.+According+to+the+president%2C+the+state+wallet+was+disconnected+while+the+government+set+to+increase+the+servers.+He+%3Ca+href%3D%22https%3A%2F%2Ftwitter.com%2Fnayibbukele%2Fstatus%2F1435197879795212291%22%3Enoted%3A%3C%2Fa%3E%0A%0A%3Cem%3E%E2%80%9CThe+installation+problems+that+some+people+had+were+for+that+reason.+We+prefer+to+correct+it+before+reconnecting+it.%E2%80%9D%3C%2Fem%3E%0A%0ATo+prepare+for+Bitcoin+transactions+in+the+country%2C+the+government+had+bought+200+Bitcoin%2C+taking+the+amount+held+by+the+country+to+400+BTC.+With+a+%24150-million+Bitcoin+fund+in+place+to+facilitate+transactions+from+Bitcoin+to+US+dollars%2C+increased+Bitcoin+purchases+and+transactions+are+to+be+expected+in+the+country.+President+Bukele+also+hinted+that+the+country+will+be+looking+to+increase+the+Bitcoin+purchased+in+the+near+future.%0A%3Ch2%3EBitcoin+community+on+board+Bitcoin+adoption+in+El+Salvadore%3C%2Fh2%3E%0AThe+vote+regarding+the+law+to+allow+Bitcoin+transactions+was+held+in+June%2C+and+the+Bitcoin+community+seemed+to+be+throwing+greats+support+for+the+passing+of+the+law.+Michael+Saylor%2C+Bitcoin+proponent+and+MicroStrategy+CEO%2C+commented+on+the+news+supporting+the+new+law%2C+tweeting+about+a+plan+for+Bitcoin+advocates+to+purchase+%2430+in+Bitcoin+in+solidarity+of+the+people+of+the+country.%0A%3Cblockquote+class%3D%22twitter-tweet%22%3E%0A%3Cp+dir%3D%22ltr%22+lang%3D%22en%22%3EOn+September+7%2C+El+Salvador+will+officially+begin+using+%3Ca+href%3D%22https%3A%2F%2Ftwitter.com%2Fhashtag%2FBitcoin%3Fsrc%3Dhash%26amp%3Bref_src%3Dtwsrc%255Etfw%22%3E%23Bitcoin%3C%2Fa%3E+as+its+national+currency+alongside+the+U.S.+dollar.+Every+cyber+hornet+%F0%9F%90%9D+I+know+is+planning+to+buy+%2430+in+BTC+tomorrow+in+solidarity+with+the+people+of+%3Ca+href%3D%22https%3A%2F%2Ftwitter.com%2Fhashtag%2FElSalvador%3Fsrc%3Dhash%26amp%3Bref_src%3Dtwsrc%255Etfw%22%3E%23ElSalvador%3C%2Fa%3E+and+their+leader+%3Ca+href%3D%22https%3A%2F%2Ftwitter.com%2Fnayibbukele%3Fref_src%3Dtwsrc%255Etfw%22%3E%40nayibbukele%3C%2Fa%3E.+Will+you+join+us%3F%3C%2Fp%3E%0A%E2%80%94+Michael+Saylor%E2%9A%A1%EF%B8%8F+%28%40michael_saylor%29+%3Ca+href%3D%22https%3A%2F%2Ftwitter.com%2Fmichael_saylor%2Fstatus%2F1434850362943438852%3Fref_src%3Dtwsrc%255Etfw%22%3ESeptember+6%2C+2021%3C%2Fa%3E%3C%2Fblockquote%3E%0A%3Cscript+async%3D%22%22+src%3D%22https%3A%2F%2Fplatform.twitter.com%2Fwidgets.js%22+charset%3D%22utf-8%22%3E%3C%2Fscript%3E%0A%0ABack+in+June%2C+Human+Rights+Foundation+CSO+Alex+Gladstein+weighed+in+on+the+plan%2C+advocating+how+important+it+is+to+recognise+that+the+El+Salvadore+government+is+choosing+Bitcoin%2C+rather+than+a+controlled+Central+Bank+Digital+Currency%2C+to+offer+greater+decentralised+options+for+its+people.+In+an+interview%2C+he+noted%3A%0A%0A%22%3Cem%3EI+am+so+happy+that+they%27re+going+with+Bitcoin.+I+mean+they+could+have+chosen+a+coin+that+they+controlled+and+could+surveil+and+confiscate.+And+you%27ve+got+to+realize+how+shocking+this+is+because+that+is+the+direction+that+governments+are+going+in.%22%3C%2Fem%3E%0A%3Ch2%3EThe+opportunity%2C+laced+with+uncertainty%3C%2Fh2%3E%0AGladstein+also+noted+that+El+Salvadore+has+a+significant+population+of+unbanked+citizens.+Bitcoin%2C+as+he+commented%2C+offers+a+way+to+provide+financial+stability+and+opportunity+to+those+with+an+internet+connection%2C+but+without+a+bank+account%3A+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%3Cblockquote%3E%E2%80%9C%3Cem%3E70%25+of+the+country+doesn%27t+have+a+bank+account%2C+but+more+than+50%25+of+the+country+has+Internet+access.+So+there+is+a+significant+overlap+there+of+people+whose+lives+are+being+changed+as+a+result+of+this.%E2%80%9D+%3Cstrong%3EBold%3C%2Fstrong%3E%3C%2Fem%3E%3C%2Fblockquote%3E%0AHowever%2C+this+opportunity+would+require+careful+consideration+and+education+for+the+citizens.+While+Bitcoin+might+provide+massive+benefits%2C+it+also+runs+risk+without+a+clear+understanding+of+how+Bitcoin+can+work.+According+to+a+survey+conducted+earlier+this+year%2C+this+might+be+a+risk+that+will+threaten+the+country%27s+economy+is+not+addressed+properly.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%3Cblockquote%3EAccording+to+a%C2%A0survey%C2%A0%3Ca+href%3D%22https%3A%2F%2Ftwitter.com%2Felsalvadorcom%2Fstatus%2F1433446240499421185%22+target%3D%22_blank%22+rel%3D%22noopener+nofollow+noreferrer%22%3Econducted%3C%2Fa%3E+by+the+local+Central+American+University%E2%80%99s+Institute+of+Public+Opinion%2C+70%25+of+citizens+in+the+country+thought+that+the+Bitcoin+Law+should+have+been+repealed+before+it+was+passed+officially.+The+study+also+found+that+a+massive+90%25+of+the+Salvadoran+respondents+admitted+to+a+poor+understanding+of+cryptocurrency%2C+with+43%25+suggesting+that+the+country%27s+economy+will+become+worse+off+with+the+Bitcoin+Law+and+the+lack+of+insight+into+how+digital+currencies+work.+%3Cstrong%3EBold%3C%2Fstrong%3E%3C%2Fblockquote%3E%0AIf+the+Bitcoin+community+can+offer+support+in+training+and+teaching+citizens+about+the+opportunity+and+prospects+available+from+Bitcoin%2C+the+economy+might+see+the+value+of+the+Law.+For+now%2C+it+remains+to+be+seen+how+the+cryptocurrency+will+be+utilised+in+the+country.+One+thing+is+certain%3B+the+news+of+the+first+country+adopting+Bitcoin+as+legal+tender+will+stand+as+a+day+worth+remembering+in+cryptocurrency+history+and+the+adoption+rate+from+here+will+be+worth+watching.","timeout":15}