The day is here. In a few hours, El Salvador’s Bitcoin Law goes into effect. We will have the first real-life example of a whole nation using the hardest money ever produced as legal tender. And, how is the Bitcoin local community celebrating? Stack sats, obviously. The order is for everybody to buy $30 worth associated with BTC to commemorate this particular glorious occasion. Will you participate?
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The intention is not to advance the dial or pump the price. The amount is little enough to guarantee that, set up event goes viral. Which usually it seems like it’s doing. The particular movement started humbly, having a Reddit post in the /r/Bitcoin community that asked an easy question. So… We all purchasing $30 worth of Bitcoin on Tuesday? At the time of writing, the idea has 8. 9K upvotes and 2 . 2K commentaries.
Among the comments, some went all-in. “I will buy $3000 tuesday to cover 99 others who arent able to pay. ” Others explained aside, “Its to show solidarity with the Bitcoin compatriots in El Salvador as they fully follow Bitcoin as their currency. ” And other rightfully criticized, “Sure. Lets just coordinate a 100 mil pump associated with BTC. Correct me if I’ m wrong yet this sounds greasy. ”
And, sure enough, the idea in order to back El Salvador’s Bitcoin Law spread to other web sites.
Bitcoin Twitter Can Support El Salvador’s Bitcoin Law
The plebs work fast. As soon as the idea transcended Reddit and have got to Bitcoin Twitter, the memes appeared. This piece of art blends the classic comedy “Trading Places” with El Salvador’s Bitcoin Law, with gold bug Peter Schiff plus Bitcoin hater Nouriel Roubini to achieve hilarious effects:
To the 7th of September #Bitcoin becomes legal tender within #ElSalvador.
Plebs and memers unite!! Like, retweet and buy #BTC for the 7th. #7SeptemberBuyBTC@Nayibbukele#LeyBitcoin#Memepool@MoscowMemetards@MemeFactoryTM#Memetards pic. tweets. com/u3rWWGbItr
— Sir William of Orange Pills (@OrangePillWilly) September five, 2021
Even MicroStrategy’s TOP DOG and notorious Bitcoin aficionados joined the party. Erina Saylor did his part to support El Salvador’s Bitcoin Law and spread the term to the sizable audience that will follows him.
This concerns me more than anything. We are at major retracement levels for the price and Michael saylor is getting retail to purchase. If the bear market starts this week I wouldn’t be surprised.
— Golde 🔜 EDCLV2021? (@all41and14alll) September 6, 2021
Naturally , this raised suspicion. “Everyone needs to be aware that this may perhaps be leading the sheep for their death. Very nerve wracking these narratives are being released before we hit the particular HUGE retracement levels, ” said one commenter. “A hole. Letting retail purchase exactly on the 70. 2% retracement to dump with them huh, ” said another. “If the bear marketplace starts this week I wouldn’t be surprised, ” expected a third one.
Are they on to something or are they missing something? Jordan Saylor strongly stated that MicroStrategy is not looking to sell any of their BTC any time soon, but , people have lied prior to. Do you know what doesn’t are lying, though? Bitcoin. If Erina Saylor and company sell on El Salvador’s Bitcoin Law’s day, people know. The same thing will happen if they buy.
BTC price chart for 06/09/2021 on Oanda | Resource: BTC/USD on TradingView. possuindo
The International Community May also Buy $30 Worth Of BTC
Here, we can see a Korean bitcoiner translation the order to support El Salvador’s Bitcoin Law as well as the community from that part of the world responding below.
[6월24일 엘살바도르는 국민 1인당 30$어치 비트코인을 지급하기로 했습니다.]
이것을 기념하기위하여 300만명의 브라질 커뮤니티에서 다같이 30$를 구매하자고 시작한 이벤트입니다.
이것은 엘살바도르의 지원을 의미합니다. #bitcoin#ElSalvador https://t.co/2I9zZkWPRA picture. twitter. com/QD1ntWevRd
— ATOMIC⚡️ BITCOIN (@atomicBTC) September 6, 2021
It’s curious that the translated tweet, one of the first ones in that social network, talks about a Brazilian Bitcoin Community and that they’re doing the work “remembering that Sep 7th is Brazil’s independence Time. ” As far as we can inform, they link to the same /r/Bitcoin post we identified as the origin and almost all of the posts there are in English.
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It’s furthermore curious that the Satoshi Nakamoney character keeps adding up to the story as it progresses, plus ends up declaring. “To end up being clear: massive #bitcoin purchase will happen at 3pm associated with El Salvador time zone. ”
Can you think of other things in the world bringing people with each other as much as #Bitcoin is right right now? Anything even at any time in your own life?
Have you ever sensed such benevolence to strangers from different nations, religions and other affiliations as you do toward bitcoiners?
— Tomerrrr Strolight – Slayer of Lies (@TomerStrolight) September 6, 2021
Will this collective action pump the price as El Salvador’s Bitcoin Law goes into impact? Maybe the plebs can’t do it by themselves, but what about doing it with Michael Saylor’s help? Another fascinating exercise to monitor tomorrow. Legal Soft day is here.
Featured Image: Bitcoin Day Hazard | Charts by TradingView/a>