Seriously man appreciate your efforts for this detailed thread about this information which can enlighten all of us about this El Salvador new Bitcoin city as many members would not be able to collect so much information about it easily but you have made it simple through this huge informative wall of text which are more of facts by the way.I have bookmarked the same and will share it with other also.Keep up the work man.
This was the part I was looking for.
I understand that certain entities prefer to invest into bitcoin related products instead of bitcoin itself because it may be easier from legal, accountancy and maybe also from tech/safety point of view.
Still, for us, individuals who already got to this forum, and can read the few words about buying bitcoin and keeping it safe, buying bitcoin related products instead of actual bitcoin makes no sense.
And yes, there's always the risk that some of such bitcoin related products, like these volcano bonds, are a "financial disaster". And in most cases those details are pretty well hidden.
Exactly if you want to invest in something you should directly do the same instead of buying something related to it.They makes no sense to me as well because suppose you are having $2000 worth of bitcoin with you safely stored in your hardware wallet the returns would be immense in short period of time if you have patience to hold over all those years but on the other side you buy these volcano bonds which are something familiar to the Gold bonds and they are centrally backup which can make them do the changes anytime like the Gold confiscation of 1933 so why people go this way instead of doing it directly?The road that leads straight is sometimes better than covering extra miles to reach the same destination.
Hey fillippone, we're on a forum, it's not about writing books here, lol.
He is old renowned author in publishing this books on the forum and the he publish his
everything you were afraid to ask editions for members of forum and they are well liked
What has come to my mind is what would happen in 4 years if Bukele loses the elections. We will have to see how this evolves and I guess it will be crucial that the price of Bitcoin is significantly higher then for him to renew in power.
I think the next elections in El Salvador are going to be conducted in 2024 and the only in the last few months the supreme court made an official order which makes him eligible running for re-elections and the decision was opposed by US government, right group and opposite parties.Considering his past elections :
Salvadoran politics have been dominated by the Nationalist Republican Alliance (ARENA) on the right and the Farabundo Martí National Liberation Front (FMLN) on the left. But after his 2017 expulsion from by the FMLN, Nayib Bukele ran in 2019 as an outsider candidate, railing against both parties with an anti-corruption, populist message. He won with 53 percent of the vote, placing him more than 21 points ahead of his next closest rival.
But after the Bitcoin adoption there were many revolts against him as the small merchants and some groups were not happy with his decision at all so we can foresee he losing some support among them but still there are chances he winning the elections and they are regularly investing in Bitcoin and i think they have accumulated 1220 bitcoins at this time but will see what will happen in next elections as the prices are definitely going to be high in 2024.