El Salvador starts the first BTC node

The head of the government of the state of El Salvador, Nayib Bukele, tweeted an image with the first rewards accumulated following the installation of the Vulcano node, currently still in the test phase. The rewards is 0.01 BTC, just over $ 430 and significant since it is the first time that a government body has confirmed that it is an active part in Bitcoin mining.

image.png


We know that El Salvador has been making it mandatory for merchants to receive crypto payments through the official Chivo wallet, which offers the possibility of instant conversion to FIAT if the trader does not want to keep BTC.

Naybe Bukele also confirmed some data on the use of Chivo: 2.73 million inhabitants have already downloaded the wallet and are carrying out transactions, the average of 180 new users per minute and over a million dollars in remittance obtained every day.

image.png


This data is really very significant and describes an absolutely accommodating situation on the part of the population towards the cryptocurrency. Meanwhile, ATM installations continue throughout the territory and it seems that people are often queuing to use the FIAT-BTC conversion machines.

The stability of BTC and the hope of its appreciation in the future are convincing many users to convert their local currency into crypto, also safeguarding the capital from a depreciation of the FIAT currency.

In my opinion, the image of the rewards obtained by the BTC minig will remain in history. The first state in the world that not only embraced the idea of ​​allowing crypto payments but also started a node and sent the mining process. This is an extremely significant day for blockchain and cryptocurrencies, the breach in the wall of worldwide institutional denial that PIN will slowly open an ever greater furrow and the number of holes in the wall will increase more and more, unstoppable like the force of water.

All this has begun in the last quarter of the year and many are convinced that the year-end cycle of 2017 will repeat itself, an imminent bull market. PlanB, author of the S2F (Stock-to Flow) model, has fully guessed the trend of the last few months of BTC and today reconfirms its Bullish vision for the next 3 months

image.png


Bitcoin at 135k by December seems unrealistic to date but if Plan B has perfectly predicted the trend of BTC in these not-so-simple months, then we can be confident on average.

Are you Bullish or not?

H2
H3
H4
3 columns
2 columns
1 column
2 Comments
Ecency