El-salvador bitcoin investment is underwater - page 2.

aoluain

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Quote from: Darker45 on June 29, 2022, 07:08:55 AM

Quote from: Abiky on June 28, 2022, 08:15:50 PM

Quote from: Darker45 on June 25, 2022, 10:17:54 PM

~snip~

Exactly. El Salvador's President knew what we was going to get into. Otherwise, we wouldn't had invested into Bitcoin in the first place. Bitcoin's been shown from time to time that it always goes up after a long-standing bear market. This is the moment to buy more Bitcoin, not to panic.

Only long-term "hodlers" will see the benefits in the future once everything goes back up again. Haters will always criticize you, but you'll be the one laughing at the end as Fiat collapses due to inflation. Who knows if other countries "mimic" El Salvador's decision to adopt Bitcoin as legal tender in the long run? Just my thoughts Grin

Haters gonna hate.

Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.

Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.

Thats a great synopsis Darker45! the haters certainly do come out of the caves with the Bears.

...and "El Salvador" knew when entering into Bitcoin and taking the daring move of adopting
Bitcoin all the potential market moves. Its also clear from their recent DCA purchase that Bukele
can see opportunities when others see disaster. Its something a number of us posted earlier
in this thread. It was the right move to make and the timing was right.

Finestream

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Quote from: Wiwo on June 21, 2022, 06:06:07 AM

El Salvador's president looks bullish on Bitcoin and from his recent tweets he may not be purchasing more Bitcoin but rather will be looking away from the price chart, and this purchasing mentality is what make the El Salvador Bitcoin bound timeless. This relates more when price is not the focus but the number of Bitcoin in their Bitcoin stake. 1BTC=1BTC

What's good thing about Bukele is he never loses hope and continue to have strong faith in bitcoin despite of some bitcoin attacks seeing its value has shown more price decline than price surges. And just this recent price downtrend, he bought another set of bitcoin which means a huge portfolio is waving for great profits when the market turns to bullish. Though other countries underestimate El Salvador, that don't stop Bukele to continue what he has started and even became a big fanatic of bitcoin.

Fivestar4everMVP

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Like we commonly say "Not in loss until you sell", I believe El-Salvador has not actually lost until they decide to sell their Bitcoin stash at a price lower than their buying price, the price of Bitcoin might have gone really down in this few weeks , but the chance of it going back up again is still there are very high, i can even go up far above its previous all time highs.
So for El-Salvador, I think all they can do right now is to hodl, Bitcoin price have always returned higher, stronger and better than its previous all time high price in all its previous bear seasons, I believe this one will not be an exception, El-Salvador should keep holding strong and turn a total deaf ears to critic, there investment in Bitcoin will sure pay off at last.

The Cryptovator

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The accumulation zone for El Salvador is high if you compare it with the current price. But if you compare it with ATH then looks fine. We all know Bitcoin has been repeating history again and again whether ATH or dump. So I believe El Salvador is doing nothing wrong. They are still Accumulating that have been reducing the average bought price. We don't know where exactly Bitcoin will stop dump or bottom. So Accumulating more Bitcoin would help El Salvador in the future. If they aimed to hold, then Definitely they will be the gainer.

sklopan

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Considering the current price, which is three times less than the moment of purchase, I think that the authorities are extremely pleased

Well, we are waiting for the result and further developments.

romero121

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Quote from: nicedreams on July 04, 2022, 01:16:30 PM

Quote from: AakZaki on July 04, 2022, 08:06:34 AM

Quote from: Asiska02 on July 03, 2022, 10:44:51 AM

By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.

Of course investing in bitcoin is very risky, and has now experienced a huge drop of almost 50% from the news price when Elsalvador bought Bitcoin. So far it's been very sad, but actually I'm glad there are countries that believe in Bitcoin and make it a state asset and legalize it as payment. Although I've only seen from the news and Bukele doesn't provide any concrete evidence that they have bought a lot of Bitcoins. But if the four year cycle repeats itself and there will be new high prices it is possible that El Salvador will become a prosperous country.

I fear the El Salvador case, investing in Bitcoin and at loss now only make more bad name for Bitcoin. If the El Salvador economy takes a downhill, no doubt that investment in Bitcoin will become a dead weight and under heavily criticized.

Already bitcoin is into criticism. Even in real life without criticism none could've reached a better position. We know it is part of life, and same is with bitcoin. Investment in bitcoin is always risky, very few have the courage. One such person to take strong decision is El Salvador President Nayib Bukele. He's positive about the market, and why should we speculate it can drop hard. Let us too stay positive. If El Salvador economy takes a downfall, the next to adopt bitcoin will do it with even better plans.

nicedreams

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Quote from: AakZaki on July 04, 2022, 08:06:34 AM

Quote from: Asiska02 on July 03, 2022, 10:44:51 AM

By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.

Of course investing in bitcoin is very risky, and has now experienced a huge drop of almost 50% from the news price when Elsalvador bought Bitcoin. So far it's been very sad, but actually I'm glad there are countries that believe in Bitcoin and make it a state asset and legalize it as payment. Although I've only seen from the news and Bukele doesn't provide any concrete evidence that they have bought a lot of Bitcoins. But if the four year cycle repeats itself and there will be new high prices it is possible that El Salvador will become a prosperous country.

I fear the El Salvador case, investing in Bitcoin and at loss now only make more bad name for Bitcoin. If the El Salvador economy takes a downhill, no doubt that investment in Bitcoin will become a dead weight and under heavily criticized.

Genamant

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Quote from: Cryptornd on June 21, 2022, 05:45:40 AM

Bitcoin Purchase Timeline of El Salvador

After a buying spree, El Salvador is now holding 2301 BTC at a $45,900 avg. price

The country's Bitcoin investment is underwater.

Bitcoin had its peak at $69k, then continuously went down for months in the drumbeats of negativity

BTC price > $45k: 271 BTC bought
BTC price < $45k: 910 BTC bought
BTC Roll Eyes

BTCBTC
nayibbukele kept buying more when the price plunged

El Salvador has come a long way on the journey to bring Bitcoin into people's daily purchase.
The country took numerous actions to realize the Bitcoin dream

While everybody is focused on the unrealized losses that El Salvador has on their #Bitcoin investment. They bought again in this dip.
I think they will not compromise their countries fund if they didn't know whats coming for them.

AakZaki

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Quote from: Asiska02 on July 03, 2022, 10:44:51 AM

By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.

Of course investing in bitcoin is very risky, and has now experienced a huge drop of almost 50% from the news price when Elsalvador bought Bitcoin. So far it's been very sad, but actually I'm glad there are countries that believe in Bitcoin and make it a state asset and legalize it as payment. Although I've only seen from the news and Bukele doesn't provide any concrete evidence that they have bought a lot of Bitcoins. But if the four year cycle repeats itself and there will be new high prices it is possible that El Salvador will become a prosperous country.

danadc

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People are very tough when it comes to doing things right with money, in El Salvador there is a lot of ignorance about the scope that bitcoin can have, people still have the chip in their heads that money like the dollar it is the safest thing for them and that they see bitcoin only as a digital currency that loses value and is not reliable, but I would like to see the faces of the people who believe that when bitcoin reaches more than 100,000 dollars, that goes to say when that happens?

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Quote from: eaLiTy on July 03, 2022, 02:23:20 PM

Quote from: AmoreJaz on July 03, 2022, 11:57:40 AM

~
we don't know the back up plans of el salvador. but definitely, the president won't compromise the welfare of his people. they already did calculate the risks involved so maybe, they have very good allowance about the up and down movement of prices. also, they are not losing if they are not selling their BTC. as of now, we know they are still buying at this price level. in time, we will see if their decision going into crypto is worth their resources to risk. we can't say their investments are under water. because they are not selling.

It is really amusing to see that El Salvador is still investing at this price and this should be their back up plan to invest rather than investing when the price was around $45k which means they are not calculating the risk potential. It is true that as long as they are not selling off their investment and could possible hold them till the next rally he would be a popular president but the fact is that the term for Nayib Bukele ends before the next halving and possibly the next rally.

Well I think Nayib Bukele acting like a whale right now and it seems he perfectly understands the bitcoin behavior that from time to time bitcoin price will increase. But I have worried about the future if those coins that they are holding will suddenly sell them all at once to gather profit. This would really have an effect on the market if ever that will happen --what do you think?
However, this is good news and possible bitcoin price will recover soon and holders may receive rewards.

eaLiTy

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Quote from: AmoreJaz on July 03, 2022, 11:57:40 AM

~
we don't know the back up plans of el salvador. but definitely, the president won't compromise the welfare of his people. they already did calculate the risks involved so maybe, they have very good allowance about the up and down movement of prices. also, they are not losing if they are not selling their BTC. as of now, we know they are still buying at this price level. in time, we will see if their decision going into crypto is worth their resources to risk. we can't say their investments are under water. because they are not selling.

It is really amusing to see that El Salvador is still investing at this price and this should be their back up plan to invest rather than investing when the price was around $45k which means they are not calculating the risk potential. It is true that as long as they are not selling off their investment and could possible hold them till the next rally he would be a popular president but the fact is that the term for Nayib Bukele ends before the next halving and possibly the next rally.

AmoreJaz

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Quote from: Asiska02 on July 03, 2022, 10:44:51 AM

By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.

we don't know the back up plans of el salvador. but definitely, the president won't compromise the welfare of his people. they already did calculate the risks involved so maybe, they have very good allowance about the up and down movement of prices. also, they are not losing if they are not selling their BTC. as of now, we know they are still buying at this price level. in time, we will see if their decision going into crypto is worth their resources to risk. we can't say their investments are under water. because they are not selling.

Asiska02

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By investing in bitcoin, El Salvador has already taken a significant risk. They are aware of the issues involved and equipped to deal with the difficulties that will arise. Given El Salvador's position in the global economy, their brave move will be regarded with respect. Before making this decision, the president must have carefully considered the market's ups and downs. No man will endanger a nation unless he is fully aware of the investments he is making with the nation's money and has a backup plan in place.

Abiky

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Quote from: Darker45 on June 29, 2022, 07:08:55 AM

Haters gonna hate.

Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.

Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.

Haters just want to discredit Bitcoin by spreading misinformation and false propaganda across every medium possible. Only smart people will take their time do their own research to realize that BTC is more than just an investment. It's a revolution that's bound to make our lives change for the better. I'd say Bitcoin is better than Fiat because it empowers people to be their own bank. There are no risks of getting your funds frozen or seized by a third party (mainly banks and/or governments). Not to mention, the cryptocurrency itself is the antithesis of inflation.

The many benefits BTC provides has encouraged some countries to adopt it as their own. El Salvador was the forerunner in this movement, followed by the Central African Republic. Other countries should do the same in order to protect themselves from a collapsing Fiat system. I'm pretty sure that once BTC rebounds back in price, El Salvador will turn from a developing country to a developed one. Who knows if we're one step closer towards "hyperbitcoinization" than we've thought? Just my opinion

tygeade

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Quote from: Darker45 on June 29, 2022, 07:08:55 AM

Haters gonna hate.

Admittedly, Bitcoin goes through severe corrections from time to time. Fiat also falls every now and then. The only difference is that for the rest of the time Bitcoin is slowly rising while fiat is continuously falling. The haters can't deny that. If we zoom out, we're seeing Bitcoin's line going upward and fiat's going downward. That's something nobody can deny.

Bitcoin's critics are free to nitpick. We've been observing that all the time. They're particularly very noisy when the market is bearish. For the rest of the time, they're wallowing in regret.

The idea is that due to inflation, we are going to have to pay more and more in fiat when we are buying something, that is impossible to dispute. Something you buy for 100 bucks today? Will be 200+ dollars in a decade or so, maybe quicker who knows?

When that fact is indisputable and it is right on your face, to say that bitcoin dropped for now? That is silly, I mean in a decade god knows where bitcoin will be, we all know it will be doing a lot better. This is why it is scary to think that there are some people out there who judge El Salvador for doing something like this. They have spent a certain amount of money today, but they will benefit from it in the future no doubt.

Majestic-milf

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From my point of view it seems Bukele isn't worried about the price dip and the fact that it looks as if he has made a stupid investment if I should say so myself. Imagine spending a whooping $105m since Sept of last year when it was adopted and paying $46,000 per coin. Now the price of BTC as of writing is $19,980.02. this is what we call an unrealized loss.
Although with the graph not seeming to chart favorably for him, he still is not bothered, probably believing something good could come out from this. But how much of tax payers money will go down the drain for this?.

2stout

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The true story will be told in about 2.5 to 3 years from now. Providing he has diamond hands and the country keeps up with their bills, the future financial outlook will be quite bright.

Bambozled

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I am really amazed to hear this. El-salvandor has learned to manage with the high volatility of the market.

Gyfts

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Quote from: Cryptornd on June 21, 2022, 05:45:40 AM

Bitcoin had its peak at $69k, then continuously went down for months in the drumbeats of negativity

BTC price > $45k: 271 BTC bought
BTC price < $45k: 910 BTC bought
BTC Roll Eyes

BTCBTC
nayibbukele kept buying more when the price plunged

You understand that purchasing any amount of Bitcoin does not exist in a vacuum, correct?

If they wanted to put their currency into any other asset, there's a good chance that other asset would be down too. May not be down as bad as they are with Bitcoin, but it also helps to put things in perspective and understand that El Salvador has not lost anything until they sell. They bought in at 45k, and the market could have easily went any direction.

Do you foresee Bitcoin staying at where it is in the future?

Topic: El-salvador bitcoin investment is underwater - page 2. (Read 949 times)