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Topic: Bitcoin and the failure of El Salvador - page 3. (Read 496 times)

hero member
Activity: 714
Merit: 521
September 08, 2022, 05:31:35 AM
#6
We should take it like this when the market is bullish and we've been on that for so long. These critics will tell that El Salvador did a genius idea and decision.
But when the market is bearish, we'll hear them say that El Salvador did a foolish thing of investing in bitcoin and now they're dropping in losses and only looking at that certain point. It's the same to us when somebody mocks us when our investments are falling due to the drop that we're having in the market. These people are only waiting for our failures but when we're on our peak of having profits, they're silent.

Yes, and I think the government of El Salvador has taken this into account already. So when we are in bearish state, they continue to accumulate as much as they can.

So let's see what their critiques will say when we goes into another bull run in 2024-2025. Perhaps they will hide again just like the rest of the anti-bitcoiners who went into hibernation when the market is rallying and come out of the rock when the bearish trend enters.

I don't know why people like to rush into making conclusion on something not yet due for it, El-Savador decision is much enviable by many countries because they lack any fortitude to take such a decision as well, so on a reality base we all have high tendencies of being jealous of what we don't have or do against those having or doing it, very soon it will be a thing of shame on all those castigating El-Savador's decision and blame themselves for not taking a follow, all I've been seing about El-Savador's bitcoin adoption are goodnews all over with satisfaction on taking such decision so I don't know where the haters are coming from and why the attacks, but as to El-Savador, i wish her very best of it all in good wish.
legendary
Activity: 1064
Merit: 1298
Lightning network is good with small amount of BTC
September 08, 2022, 05:00:59 AM
#5
They celebrated the one year yesterday. We should not be thinking about how bitcoin price has falled, bitcoin adoption helped El Salvadorans. It helps in tourism and remittance. Over 70% of Salvadorans are not having bank account, but now people from abroad can easily send money to their relatives and other people with the use of bitcoin. Out of 100% of bitcoin received as salary, remittance and the likes, over 90% are converted to USD. Bitcoin helps in El Salvador.
legendary
Activity: 2716
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
September 08, 2022, 04:57:11 AM
#4
It's been a year since ElSalvador took the bold step of becoming the first country in the world to accept bitcoin as a legal tender. The market is going through bad days so a lot of people think that ElSalvador failed, defaulted when accepting bitcoin... but I think they were too hasty in judging someone. We all know bitcoin is a long term investment measured in years, so to know if someone will fail or succeed in investing in bitcoin give them a few years time.
It's always more appropriate to give them (El Salvador) time because jumping to conclusions too quickly won't be as effective as a complete conclusion. So giving El Salvador time in terms of proving themselves not to fail and still being able to rise when market conditions are not good is a very hard work for El Salvador.

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There's no denying that ElSalvador's investment is losing money, but that's when you're talking USD value, not bitcoin. ElSalvador bought a total of 2,381 BTC and their bitcoins remained unchanged.
We always tell each other that 1BTC = 1BTC, if you don't sell, you won't lose, why rush to conclude that they failed, when they haven't sold any bitcoins yet.
It can be said that this country has never given up, they are still on the way to building their "Bitcoin City".
Yeah, 1BTC = 1BTC whose amount will never change if it's not sold or used for other things. Because what has changed now is the price of BTC itself in the market so some people start making hasty conclusions by saying Bitcoin adoption in El Salvador has failed and they think El Salvador has suffered losses regardless of how far the Salvadoran government tries to stay afloat and continue to build his coveted Bitcoin city.

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It doesn't matter when you enter the market, it matters how long you stay
For me this is a piece of aphorisms that must be remembered so as not to panic suddenly.

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ElSalvador has been trying to make bitcoin mass adoption and we, bitcoiners, instead of denigrating or laughing at them, we should wish them success one day. Once they succeed, they will be a big impetus for other countries to move towards mass bitcoin adoption.
Congratulations once again #BitcoinDayAtElSalvador.
Bitcoin lovers do have to support Bitcoin adoption efforts in El Salvador because when the adoption by El Salvador succeeds one day, of course the good effects for Bitcoin will also be there and one of them is like you said where there will be encouragement and desire for other countries to try to adopt Bitcoin as El Salvador did.
legendary
Activity: 2576
Merit: 1655
September 08, 2022, 04:47:49 AM
#3
We should take it like this when the market is bullish and we've been on that for so long. These critics will tell that El Salvador did a genius idea and decision.
But when the market is bearish, we'll hear them say that El Salvador did a foolish thing of investing in bitcoin and now they're dropping in losses and only looking at that certain point. It's the same to us when somebody mocks us when our investments are falling due to the drop that we're having in the market. These people are only waiting for our failures but when we're on our peak of having profits, they're silent.

Yes, and I think the government of El Salvador has taken this into account already. So when we are in bearish state, they continue to accumulate as much as they can.

So let's see what their critiques will say when we goes into another bull run in 2024-2025. Perhaps they will hide again just like the rest of the anti-bitcoiners who went into hibernation when the market is rallying and come out of the rock when the bearish trend enters.
hero member
Activity: 3136
Merit: 591
Leading Crypto Sports Betting & Casino Platform
September 08, 2022, 04:41:11 AM
#2
We should take it like this when the market is bullish and we've been on that for so long. These critics will tell that El Salvador did a genius idea and decision.
But when the market is bearish, we'll hear them say that El Salvador did a foolish thing of investing in bitcoin and now they're dropping in losses and only looking at that certain point. It's the same to us when somebody mocks us when our investments are falling due to the drop that we're having in the market. These people are only waiting for our failures but when we're on our peak of having profits, they're silent.
sr. member
Activity: 1498
Merit: 326
Vave.com - Crypto Casino
September 08, 2022, 04:37:48 AM
#1
It's been a year since ElSalvador took the bold step of becoming the first country in the world to accept Bitcoin as a legal tender. The market is going through bad days so a lot of people think that ElSalvador failed, defaulted when accepting Bitcoin... but I think they were too hasty in judging someone. We all know Bitcoin is a long term investment measured in years, so to know if someone will fail or succeed in investing in Bitcoin give them a few years time.

There's no denying that ElSalvador's investment is losing money, but that's when you're talking USD value, not Bitcoin. ElSalvador bought a total of 2,381 BTC and their Bitcoins remained unchanged.

We always tell each other that 1BTC = 1BTC,
if you don't sell, you won't lose, why rush to conclude that they failed, when they haven't sold any Bitcoins yet?
It can be said that this country has never given up, they are still on the way to building their "Bitcoin City".
Quote
It doesn't matter when you enter the market, it matters how long you stay
ElSalvador has been trying to make Bitcoin mass adoption and we, Bitcoiners, instead of denigrating or laughing at them, we should wish them success one day. Once they succeed, they will be a big impetus for other countries to move towards mass Bitcoin adoption.


Congratulations once again #BitcoinDayAtElSalvador.

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