El Salvador, Bitcoin & Domain Names

[redemo]

On Sept. 7, El Salvador will become the first country to make bitcoin legal tender. The government even went a step further in promoting the cryptocurrency’s use by giving $30 in free bitcoins to citizens who sign up for its national digital wallet, known as “Chivo,” or “cool” in English. Foreigners who invest three bitcoins BTCUSD, +0.56% in the country—currently about $140,000—will be granted residency. Panama is considering following El Salvador’s lead. https://www.marketwatch.com/story/e...ect-the-dollar-to-disappear-there-11630613142. How does this story affect domain names?

 

[jhm]

I'm guessing this "national digital wallet" takes your private keys from you, compared to its citizens diligently sorting out their own hardware / offline storage (hope it doesn't)

How does the situation in El Salvador regarding their currency arrangements affect the domain industry ...not much, I don't see much correlation. Bitcoin has been accepted as a legal tender, but that doesn't mean dollars are out of the question in that country - The use of Bitcoin is optional

 

[Alop]

@redemo is on retro news like my music playlist

 

[Name Trader]

What happens to the foreigners bitcoin wallet and bitcoins on a change of government?

 

[HotKey]

I don't know that this story affects domains names, perhaps Spanish domains, what it is indictive of is a third-world country's economy in peril and needing attention. 200 ATM's accepting BTC is a good start in a country of 6 mil. Will be interesting to see how this develops within the developing world and wonder if this is some sort of practice run from the powers that be for use in first-world countries.

Truly hope this doesn't drain already limited funds from simple folk looking for the promised land.

 

[redemo]

Could it further open up the domain name registrar market for companies based in El Salvador and a route for Bitcoiners to buy and sell more domains using their crypto?

 

[redemo]

We lost a @Loodex and gained an @Alop.

 

[srav]

El salvador domain " bitcoins.sv" is Still available for hand reg . If somebody is interested , get this .