El Salvador Needs To Understand The Bitcoin Network

Not only Salvadorans, but everyone needs to have a basic understanding of Bitcoin and its ns and outs.

A personal rant as I once again was cofnronted with this earlier, but it is beyond frustrating to still see the misinformation and assumed notions discussed in forums and social media by people who think they actually know about Bitcoin; most have not a clue.

EL SALVADOR NEEDS TO UNDERSTAND THE BITCOIN NETWORK

El Salvador’s population is 6.5 million. There has never been a coordinated push for bitcoin adoption on such a large scale. It would be disastrous if Salvadorans misunderstood bitcoin as merely a financial technology thing, i.e. something you download an app for and you’re set. There’s a pressing need to grasp Bitcoin (the upper case), at least in its basics. The best way to understand how Bitcoin works is to use it in its real form: handle the recovery seed, perform a few on chain transactions and so on.

Because if bitcoin becomes a part of everyday commerce, some people will inevitably start saving a portion of their earnings in sats. That’s when users will need to level up from hot wallet to cold storage.

Full article here: https://bitcoinmagazine.com/culture/el-salvador-understand-bitcoin-network

 

Master Asked on July 14, 2021 in Bitcoin.
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