El Salvador - One point that the community has not yet brought to discussion
I know that recently appeared several posts about El Salvador because they announce that they will accept Bitcoin as the currency of the country, and I hope it will not be just another post by speaking the same as others have spoken, I want to bring some opinions of me how I look at this Not necessarily things that will happen.
El Salvador decided to be a new type of country, a country that wants to help you (you in case someone who prefers to adopt cryptomoedas as your main currency rather than the country of the country that resides).
Currently they do not have their own shitcoin, they use the dollar like current shitcoin, so they decided to pass a law that puts Bitcoin as the main currency, and what does it mean?
I can not sharpen with 100% certainty because I have not yet seen the text of the law, but there are some interesting points such as: make contracts based on cryptomoedas, this can give a tax exemption of capital gains because if you consider that one thing It is money and the exchange of money for another money to profit you, in this way will not focus on this, depending on the legislation, because some states for example in the United States did this with gold and silver. They recognized that gold and silver is money and no investment, which means that if you buy gold and resell 10 years later and have profit so you do not have to pay tax on top of that because it is a money exchange for money.
It may be that El Salvador goes in that sense, still can not know, has to be studied the tax system of the country, and I have not even close to doing this, but it is a possibility.
The most important point is that if a law of this magnitude is to be approved, more laws will come in this regard, because the country is signaling for a north on how they want things to happen there.
The main point we have to understand, is not the fact that Bitcoin will now be the main currency of the country but rather that a president of a country wanted to pass the message that: "I want to bring you here, here you are well Coming and non-plus, here is a place where we accept Bitcoin and we do not repudiate, a place where criptomoeda is well seen and not taxed. "
When you have innovative ideas the most difficult is the first country. Estonia was also a pioneer in creating Flat Tax, a single tax of 20% that is half that is half of the OECD average. And shortly thereafter, other countries began to adopt this measure. Since El Savidador decides to try to attract this audience, other countries will begin to adopt the same measure.
Countries such as Panama and Costa Rica that they are countries that like to have a politician who attract new investors when seeing this, will also try to change something in their legislation so that they are a destination for cryptoinvesters as well. In this way it will be surprised if European countries begin to have the same attitude, and non-countries great as Germany who are in the comfort of their economies and big fee, but countries like Croatia, Serbia, Romania or Bulgaria, seeking to improve the country's economy and consequently the lives of its citizens.
In the long run it will not be strange if larger countries then try to copy the idea of success that El Salvador had the courage to start.
