Topic: ㅤ (Read 705 times)

It is an opposition rally at display. Bitcoin is supposed to be freely accepted, used and cherished. The people who are organising the protests no do not know the actual benefits their economy will be having. Time will tell.

You need not to fall for this propaganda, these could be the handiwork of international bodies and sponsor these set of people, these people need to understand that there is no future with Fiat, if you want to stick to a sinking ship good luck, the world has started waking up to this and Crypto is becoming unstoppable

There will never be a solution unless btc replaces the dollar and btc will never replace the dollar because the whole world won't change their minds over night and start valuing things in btc instead of dollar. Like I said, it is a good asset to grow your money but don't really work as a currency and I am not sure if it ever will.

You have a point because bitcoin is one of the payment methods, but what about the price, right? Is this subject to change? I believe not, because the price of bitcoin is volatile, which is extremely unfair to the consumer because it is the only way to pay. Using bitcoin to make money is a great idea, but I believe bitcoin was created first so that it could be easily paid online and tracked, rather than as an investment that will provide you with a lot of money.

Majority of them doesn't know about bitcoin so for sure many of them got panic when bear market hit the same what happen these couple of days. But I believe this is temporary problem unto them since its normal to see people dislike some things which they don't understand but once they know how bitcoin really works for sure they can the sudden changes to the market and they can earn fast cash once bullish season starts.

What will installing Bitcoin ATMs have to do with the price volatility? and the Government is not the one to put up the store where Bitcoins will be accepted. I believe that the problems are not even the ATMs and the stores because I believe that there are stores already but it is the acceptance due to the main problem of Bitcoins volatility that is the issue. Even when they do accept Bitcoin and with the financial situations of El Salvador, their concerns will be how much they will be losing during the bear season and we know that Bitcoin is not yet as convenient as Fiat. I guess these are some of the problems that will keep Bitcoin from being fully utilized as a general currency until it is figured out.

Let's accept it. Bitcoin is not practical for every day use. Not for the consumer not for the seller. It seems to be a good store of value but that's it. While credit cards are working perfectly fine, why make things harder for people? I know VISA and MC are getting rich from those cards but look what happened, VISA actually started to issue crypto cards and in the they still benefit from it.

It takes some time and the people will eventually accept plus the government is still the authority and they will enforce it no matter what plus incentives is a good thing, I mean they just have to use the bitcoin goven to them to do some daily transactions right? Also, El Salvador should make a some way so people can fully accept it like installing bitcoin ATM ad having stores and markets integrate a crypto payment system, it doesn't have to be complex because there's existing apps out there already.

So did that 77% of EL Salvadorian collected that part of the $140m worth of Bitcoin that was distributed initially? if so, why are they now protesting if that was not a planned thing hopefully by some opposition? I know that when you don't have other means to take care of your needs and the market is in a Bear trend, Bitcoin becomes a thing they may not like as a means of payment for whatever because it also becomes stressful for the business owners and also the workers. You get paid some amount in BTC as salary or for a service/goods and before you turn around the market is 2% down. People will mostly appreciate this in a Bull trend and I think cryptocurrencies should be more of a complementary form of payment to Fait other than a replacement. 

That's the real reason even if it's not from El Salvador, there really are people that don't like bitcoin's volatility. You give them bitcoin for free, they're happy but as they hold it and when they witness the plummet.
They're going to be unhappy, that's the reality of bitcoin's volatility. Not every people that owns it are happy and willing to face its high volatility.

As long as Bitcoin is not enforced on anyone, these points don't hold. I agree that volatility is a big issue with Bitcoin (but people will complain only when the prices go down) and there may be a very few who don't have access to smartphones. If you use third party payment processors such as BitPay, they immediately convert the Bitcoin at the time of making the payment. There may be a lag of 2-3 minutes, but I don't think that the exchange rates would go up or down by as much as you have claimed.

One moment! El Salvador has years in this informal process of receiving bitcoin and processing them as a means of payment, but basically almost everything based on remittances.

There was (is) an exploitation in the currency exchange, this is experienced by countries like Argentina, Chile, etc. And in Central America even more still, there is a literal theft when the change is made to dollars, up to 20% below the average change or even more, so the measure in El Salvador, rather than being an adoption, was a solution to the $ <=> BTC exchange speculation.

But as I mentioned (other post) and stated again, such a measure has political and demagogic overtones rather than social, but in any case, for those who receive bitcoin, there is now a legal part to demand, but in practice nothing has changed, there is still speculation in it, exchange $ <=> BTC.

That is, those who make life with bitcoin continue in their daily lives and the new law is an option and they do not take it as an obligation.

These protests have more political overtones than anything else, El Salvador is a complex country in its internal politics and anything is good roots to protest.

Every year on July 30, a march is held in commemoration of some tragic events in 1975 that occurred at the University of Salvador(*). And it is a traditional time to protest against the government.

Edit:
(*)https://es.wikipedia.org/wiki/Masacre_estudiantil_del_30_de_julio_de_1975

That is understandable. Right now people in El Salvador receive salaries in dollar and they have a choice: to convert in Bitcoin or use dollars, depending on the situation on the market. If they all just automatically get paid in Bitcoin and the salaries are fixed to amount in dollars - they won’t make much profit.

in addition, at the times of high volatility it would be impossible to adjust all the prices according to the current Bitcoin value, so one time a bottle of water can cost half of someone’s salary (hypothetically). People need to have a choice. Evading fiat completely isn’t a good plan.

Recommendations, good intentions and words of encouragement used from the government will not be able to change these dissatisfactions because the people here don't need to hear about a great plan bitcoin details, they have a life and a job, their time is not to learn about a new technology, the time to go to school for many people has long passed, the young people of EI Salvador also don't have a good attitude about this. Listening to society is the most important thing for people to trust the government more but this country is making arbitrary decisions

indeed there must be hard work from the government to be able to provide a detailed explanation of their intentions and purposes for using bitcoin as one of the recognized transactions.
it is clear that many people do not know because of the limitations of technology which may not be widely spread.
Apart from that, the government can provide at least a smartphone so that they can learn about the nature and use of bitcoin, because if they know they can be sure that the people will not refuse.

everything must be preceded by an introduction, although it is possible that the government's aim is good, but for those who do not understand it is impossible to give an explanation without a tangible form that can be proven. but it could be that this has brought the political sphere because if it leads to it, of course the government needs to work hard again to be able to embrace all of them. so it's not pure that what you don't like, is society itself.

I think some people in El Salvador who oppose it don't like the volatility and unknown nature of Bitcoin, and even some people there can't afford smartphones at all. They must be given time to understand it. Bitcoin will have a predictable value every day in the future, and perhaps the situation in El Salvador is a bit early. If someone wants to pay you, if the price drops by 20%, people will get angry. Or the price increases by 20% before you need to pay the bill. Volatility makes the use of currency a huge obstacle. Ordinary people do not understand market cycles and asset appreciation.

I didn't really consider that as an option really. Why would anyone pay so many people to protest? What would be the reason to protest El Salvador accepting bitcoin and while we are at it why would it be something to protest to begin with. I really can't make a decision based on what is going on with this, I mean sure it looks shady and a bit weird but even the protest itself is very weird, it is just an option and it is not the official money of that nation, it is an alternative that you can use if you want to or not use at all if you do not want to and that’s about it, there is really nothing that shocks me at this point because it is weird as a whole package.

Does this mean someone may have ended up paying all these people? Sure that is not like any weirder than people making a whole protest over something just an optional deal, so I guess even though it would make zero sense for anyone to do that, nothing here made sense to begin with anyway.

Again one of those claims that 106% of Venezuelans are using bitcoin, right?

Because every time we go over the numbers be it bitcoin nodes:
Cuba - 0, Venezueala 1, Salvador 0
We take ATMs:
Cuba - 0, Venezueala 1, Salvador 5
Let's look at  LN statistics:
Slovakia  Capacity 2.051476870 BTC (0.103%) $70,404.70 Node Count 18 (0.14%) Channel Count 172 (0.29%)
vs:
South America Capacity 4.19278091 BTC (0.211%) $143,996.62 Node Count 23 (0.174%)  Channel Count 281 (0.476%)

Pretty hard to believe that 2/3 of people are using BTC in those countries when a country with 1% of the population is beating the crap out of an entire continent in statistics.


Really? When was that?

If you enforce people to use anything you should expect a huge protest and that is what we are witnessing, i thought it was an alternative payment option for the citizen and here they are saying about enforcing the use of BTCitcoin and it is not going to work. Either they need to explain to the merchants that they can always convert their coins to the coin of their choice instantly if they do not want to hold them for long. I am also not a huge fan of enforcing these to everyone, just give them the option and everything would work well and no one would protest.

This is exactly what it means, basically if a person enters a store and they want to pay with bitcoin the business owner has to accept it and cannot refuse it, that is what it means to be a legal tender.

It is obvious those protesters are being paid or do not really understand what is happening, it is unlikely a business owner is going to want to pay them with bitcoin so they are not going to be affected by the volatility, the ones that are affected by this are business owners as they are the ones that will have to find a way to accept bitcoin if the client wants to pay with it.