El Salvador Becomes the First Country to Adopt Bitcoin as Legal Currency-RHY Blockchain Mine on which the sun never sets!

Market Value	$ 13,736.84 million
Change	+0.02%
power	696.29 EH/s
Daily output	0.00000073 BTC / T
Halve time The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.	Completed
Earnings volatility The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.	+422.39%

Market Value

$ 13,736.84 million

Change

+0.02%

power

696.29 EH/s

Daily output

0.00000073 BTC / T

Halve time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed

Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

+422.39%

Market Value	$ 4.33 million
Change	0.00%
power	15.85 TH/s
Daily output	0.21580310 DCR / G
Halve time The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.	No halving expected
Earnings volatility The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.	-97.69%

Market Value

$ 4.33 million

Change

0.00%

power

15.85 TH/s

Daily output

0.21580310 DCR / G

Halve time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected

Earnings volatility

-97.69%

Market Value	$ 66.86 million
Change	+0.13%
power	992.49 TH/s
Daily output	0.00000345 LTC / M
Halve time The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.	No halving expected
Earnings volatility The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.	+89.48%

Market Value

$ 66.86 million

Change

+0.13%

power

992.49 TH/s

Daily output

0.00000345 LTC / M

Halve time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected

Earnings volatility

+89.48%

Market Value	$ 112.67 million
Change	+0.10%
power	6.89 EH/s
Daily output	0.00015455 BCH / T
Halve time The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.	Completed
Earnings volatility The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.	-17.29%

Market Value

$ 112.67 million

Change

+0.10%

power

6.89 EH/s

Daily output

0.00015455 BCH / T

Halve time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed

Earnings volatility

-17.29%

Market Value	$ 4.66 million
Change	+0.14%
power	9.81 GH/s
Daily output	0.00034500 ZEC / K
Halve time The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.	Completed
Earnings volatility The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.	+62.96%

Market Value

$ 4.66 million

Change

+0.14%

power

9.81 GH/s

Daily output

0.00034500 ZEC / K

Halve time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed

Earnings volatility

+62.96%

Market Value	$ 5.66 million
Change	+0.20%
power	1.42 PH/s
Daily output	0.00013765 DASH / G
Halve time The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.	Completed
Earnings volatility The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.	-75.09%

Market Value

$ 5.66 million

Change

+0.20%

power

1.42 PH/s

Daily output

0.00013765 DASH / G

Halve time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed

Earnings volatility

-75.09%

Market Value	$ 56.12 million
Change	+0.20%
power	167.40 TH/s
Daily output	0.00009358 ETC / M
Halve time The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.	No halving expected
Earnings volatility The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.	-7.55%

Market Value

$ 56.12 million

Change

+0.20%

power

167.40 TH/s

Daily output

0.00009358 ETC / M

Halve time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected

Earnings volatility

-7.55%

El Salvador Becomes the First Country to Adopt Bitcoin as Legal Currency

2021-09-08 17:52

The Congress of the South American country, El Salvador has reportedly passed the Bitcoin Law with an "absolute majority" vote, making it the first country in the world to adopt bitcoin as a legal tender.

Earlier on Wednesday, the country's president, Nayib Bukele, submitted the bill to Congress for a vote.

He announced today via Twitter that the Bitcoin Act has been passed by the country's parliament: 62 of the 84 lawmakers who voted on the bill voted in favor of it.

The passage of the Bitcoin Law makes Saldova the first country in the world to grant legal status to cryptocurrencies. As of now, prices of goods in El Salvador can be marked in bitcoin, taxes can be paid in bitcoin, and such transactions will not be subject to capital gains tax.

The country's president, Nayib Bukele, revealed that "the Salvadoran government will introduce a bitcoin wallet for its citizens, but they will be able to choose whether to use it or not." It was also stated that "El Salvador will adapt the population to Bitcoin transactions through the necessary training and mechanisms."

With about 70 percent of the country's population reportedly without bank cards or bank accounts, cryptocurrency is seen as a means of improving financial inclusion. El Salvador's economy relies heavily on repatriation of funds from abroad, with more than 2 million Salvadorans living abroad but continuing to maintain close ties with their birthplace, repatriating more than $4 billion in funds annually, which account for about 20 percent of the country's gross domestic product.

Following the news, bitcoin pulled up briefly above $34,000 per coin.

According to CoinDesk, bitcoin had hit a record of $64,829.14 in April of this year but has since taken a nosedive. Still, the cryptocurrency has accumulated a 230% gain over the past 12 months. This rise stems from a growing interest from institutional investors, as well as buying from large corporations such as Tesla and Square. Bitcoin's legalization process in El Salvador.

On June 5, 2021, El Salvador's President Buerkle announced at the Bitcoin Conference that Bitcoin would become legal tender in the country.

On June 9, 2021, the Salvadoran Legislative Assembly passed the Bitcoin Law with an absolute majority of 62 votes in favor and 22 votes against it.

On June 24, 2021, Buerkle builds momentum for the bill by announcing another bitcoin airdrop of $30 per newly created account at no cost, for a total value of $135 million.

On September 7, 2021, El Salvador officially became the first country to adopt bitcoin as legal tender.

According to Dr. RHY Jr., there are other countries besides El Salvador that have made moves to legalize cryptocurrencies.

1, the Bahamas, this year, launched the Sand Dollar, a digital currency backed by the central bank.

2, Venezuela has also launched its own electronic currency, Petro.

3, last month, Cuba moved to legalize the cryptocurrency already in use in the country

4, and lawmakers in other countries, such as Panama and Uruguay, have proposed legislation similar to Cuba's.