El Salvador President Nayib Bukele participated in Twitter Spaces hosted by Nic Carter. Here’s a summary of all of the major points he made in a conversation which lasted for over 1 hour - Government Bitcoin Wallet will be developed by Jack Mallers Strike - Free & Available to all in El Salvador. Opt-in only. - People are free to use any wallet. - Accepting Bitcoin is going to be a mandate for all merchants. - Merchants cannot refuse Bitcoin. - USD will remain exclusive unit of account for corporate balance sheets. - Taxes can be paid in Bitcoin. - Commercial contracts can be settled in Bitcoin where previously denominated in USD. - $150m Government Trust Fund to remove BTC exchange risk to small merchants - opt-in only. - Initial estimate only to seed Trust Fund. - Permanent residency to anybody who invests 3 BTC in El Salvador. - Government will build out internet infrastructure to promote connectivity to Bitcoin. - Not worried about international finance sector response because this is an opportunity for everybody. - It will reduce remittance commissions from 30% to almost zero + the creation of jobs — it’s good for everybody. - Reduce problem for US at the border because of more opportunities in El Salvador for people. - We have to do a lot of explaining and campaigning. - This is not something for rich people only. Bitcoin is for everybody. - A lot of inequality comes from the central banking system. - Everybody pays the price of their money being diluted. - Bitcoin solves a lot of things. - If we can change our future, other countries will follow. - Weapons are bought with USD. Money laundering is with the USD. Also jewels and EUR and Yen. - The problem is the illegal activity, not Bitcoin. - Government Mining Bitcoin: Not thinking about it, but we can do things to promote it. - We have a plan for geothermal energy - from volcanoes that’s 100% clean. - We lose a lot of energy in transport that could be used for industry - potentially mining too. - A lot of people will attack this because they support other ideas - but we should support Bitcoin adoption so it takes hold. - Bitcoin is proving it carries benefits for the common folk. - We were inspired by the project of Bitcoin Beach and the work Jack Mallers has been doing in El Salvador. 460 viewsedited 11:02