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I’m from El Salvador, and today was my first day that I withdrew money from a Bitcoin ATM

I’m from El Salvador, and today was my first day that I withdrew money from a Bitcoin ATM

I’m from El Salvador, and today was my first day that I withdrew money from a Bitcoin ATM from Bitcoin




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42 Comments

  1. I wonder tho at what point do people get tired of making trips to the ATM and waiting in line and instead they just use their Bitcoin to buy what they need at stores that accept Bitcoin

  2. Thanks for sharing this. I assumed that the long lines at the ATM were for people claiming their $30.

    But, it’s interesting to hear about the money transfer & remittance use case. Basically a cheaper version of Western Union. This justifies all the long lines.

    Do you know what % of people in the line were there claiming their $30? And what % for money transfer & remittences?

  3. congratulation.

    You are the first country to have the privilege of BTC as legal Tender.

    We are still in early stage.

    The people will see in the next Bullrun what BTC can do.

    ​

    All salvadorians who sold their coins will fear the FOMO soon 😀

  4. Did you yourself try lightning? How well did it perform?

    Right now BTC transactions are cheap, but they can easily go up to $100 in the next bull run. I hope that lightning network will be able to handle larger transactions at that point.

  5. I have a theory. If overseas El Salvadorians are buying BTC on exchanges to send remittances and it’s effectively being sold & converted to fiat ‘over the counter’, using BTC ATM’s, then over time shouldn’t this extra buying pressure on the exchanges have the effect of pushing up the BTC price ever higher? Or is there something I am missing in this analysis?

What do you think?

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