The day is here. In a few hours, El Salvador’s Bitcoin law will come into force. We will have the first real example of an entire nation using the hardest money ever created as legal tender. And how does the Bitcoin community celebrate? Stack sats, obviously. Everyone is supposed to buy $ 30 worth of BTC to commemorate this glorious occasion. Are you going to participate?
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The intent is not to move the dial or drive the price up. The amount is small enough to guarantee this even if the event goes viral. What it seems to be doing. The movement started humbly with a Reddit post in the / r / Bitcoin community asking a simple question. So … will we all buy $ 30 worth of bitcoin on Tuesday? At the time of writing, the idea has 8.9,000 positive votes and 2.2,000 comments.
Some of the comments went all-in. “I’m going to buy $ 3,000 on Tuesday to cover 99 others unable to pay.” Others explained away, “It is to show solidarity with our Bitcoin compatriots in El Salvador as they are completely adopting Bitcoin as their currency.” And others rightly criticized: “Sure. Let’s just coordinate a 100 mil pump from BTC. Correct me if I’m wrong, but that sounds greasy. ”
Indeed, the idea of supporting El Salvador’s Bitcoin law spread to other social networks.
Bitcoin Twitter will support El Salvador’s Bitcoin law
The plebs work fast. As soon as the idea went beyond Reddit and got to Bitcoin Twitter, the memes appeared. This work of art mixes the classic comedy “Trading Places” with El Salvador’s Bitcoin Law, gold bug Peter Schiff and Bitcoin hater Nouriel Roubini to create hilarious effects:
On September 7, #Bitcoin becomes legal tender in #ElSalvador.
Plebs and memers unite !! Like, retweet and buy #BTC on September 7th # 7SeptemberBuyBTC @ Nayibbukele # LeyBitcoin # Memepool @ MoscowMemetards @ MemeFactoryTM # Memetards pic.twitter.com/u3rWWGbItr
– Sir William of Orange Pills (@OrangePillWilly) September 5, 2021
Even the CEO of MicroStrategy and the notorious Bitcoin enthusiast attended the party. Michael Saylor did his part in endorsing El Salvador’s Bitcoin law and getting the message across to the large audience that follows him.
That worries me more than anything. We’re at a great level of retracement for price and Michael Saylor is getting retailers to buy. If the bear market starts this week, I wouldn’t be surprised.
– Gold 🔜 EDCLV2021? (@ all41and14all) September 6, 2021
That, of course, aroused suspicion. “Everyone must be aware that this could potentially lead the sheep to their death. It’s very nerve-wracking to have these narratives come out before we hit the HUGE retracement levels, “said one commentator. “A hole. Let the retail buy exactly on the 70.2% retracement to tip over on them,” said another. “If the bear market starts this week, I wouldn’t be surprised,” predicted a third.
Have they noticed something or are they missing something? Michael Saylor emphatically stated that MicroStrategy doesn’t want to sell any of its BTC anytime soon, but people have lied before. But do you know what is not lying? Bitcoin. If Michael Saylor and the company sell on El Salvador’s Bitcoin Act day, people will know. The same will happen when you buy.
BTC price chart for 06/09/2021 on Oanda | Source: BTC/USD on TradingView.com
The international community will also buy $ 30 worth of BTC
Here we see a Korean bitcoiner translating the order to support the Bitcoin law of El Salvador and the community from this side of the world responding below.
[6월24일 엘살바도르는 국민 1인당 30$어치 비트코인을 지급하기로 했습니다.]
300 만명 의 30 $ 를.
이것은 엘살바도르 의 지원 을 의미 합니다. # bitcoin # ElSalvador https://t.co/2I9zZkWPRA pic.twitter.com/QD1ntWevRd
– ATOMIC⚡️ BITCOIN (@atomicBTC) September 6, 2021
It is strange that the translated tweet, one of the first on this social network, speaks of a Brazilian bitcoin community and that they do so “in remembrance that September 7th is Brazil’s Independence Day”. As far as we can tell, they link to the same Bitcoin post that we identified as the origin. And almost all of the articles there are in English.
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It is also curious and hilarious that the character of Satoshi Nakamoney contributes to the story over and over again and explains at the end: “To be clear: At 3pm in the El Salvador time zone there will be a massive #bitcoin purchase . ”
Can you imagine anything else in the world that brings people together as much as #Bitcoin is right now? Everything, including at any time in your life?
Have you ever felt as benevolent towards strangers from different nations, religions and other affiliations as you do towards Bitcoiners?
– Tomerrrr Strolight – Slayer of Lies (@TomerStrolight) September 6, 2021
Will this collective action drive the price up when El Salvador’s Bitcoin law goes into effect? Maybe the plebs can’t do it alone, but how about Michael Saylor’s help? Another fascinating activity to watch tomorrow. The day of the legal tender has arrived.
Featured Image: Bitcoin Day Flyer | Charts by TradingView/a>