As bitcoin (BTC) is par for the course, El Salvador has become the first nation-state to adopt BTC as legal tender which is now immortalized on the blockchain.
Data from Blockchain Explorer Service Blockchair shows Block 686,938 with the message “Assembla aprueba la le bitcoin,” – Assembly Approves Bitcoin Law – frontpage headline Published on 9 June by the El Salvadoran daily Diario El Salvador.
— Dario El Salvador (@elsalvador) June 9, 2021
Poolin, the third largest bitcoin mining pool by hash rate, was responsible for mining the transaction block that contained the message.
— Documenting Bitcoin (@DocumentingBTC) June 9, 2021
As previously reported by Cointelegraph, El Salvador’s legislature A bill passed to make bitcoin legal tender in country. Meanwhile, a wave of support for BTC among prominent government figures in Latin America is fueling the enthusiasm of many bitcoin supporters.
Responding to the growing trend, Chris Burniske, partner at blockchain-focused venture capital fund Placeholder VC, tweeted The move could be a means for Latin American countries to “attack back on the dollar and debt”.
Earlier this week, former United States President Donald Trump reiterated his bitcoin stance, saying that BTC was competing with the US Dollar.
Poolin’s memory of El Salvador’s historic bitcoin legalization move comes a decade after BTC creator Satoshi Nakamoto carved Times frontpage headline from January 3, 2009 on the Genesis Block:
“The Times 03/January/2009 Chancellor on the verge of a second bailout for banks.”
Some blocks in the bitcoin blockchain also contain messages and other types of context to commemorate certain occasions.
When the block height returned to 666,666 in January, the “winning miners” Contains a verse from the Bible: “Do not be defeated by evil, but overcome evil with good – Romans 12:21.”
In April, Coinbase Had Bitcoin Mining Pool F2Pool Embed a New York Times Article In block 679,187.