El-salvador bitcoin investment is underwater - page 3.

Darker45

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Quote from: Abiky on June 28, 2022, 09:15:50 PM

Quote from: Darker45 on June 25, 2022, 11:17:54 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.

Mr.sprin

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The country of elsalvador has thought well about the risk of legalizing bitcoin in their country of course with the price of bitcoin falling as it is now the government of the elsalvador country is not panicking and they have a solution to overcome the problem of bitcoin's decline in their country.

lionheart78

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Quote from: Poker Player on June 26, 2022, 01:40:14 AM

Quote from: Abiky on June 25, 2022, 09:34:38 PM

You can't lose if you don't sell.

You can.

There are several of you who have made such statements in the thread, but that's a fallacy that is widely used in the investment world, not just in Bitcoin. Tell it to the one who has an investment that is going to 0, like shares of a company that goes bankrupt. He hasn't lost because he hasn't sold a stock that is worth 0? LOL.

In the same way, we should not rejoice when the price rises. Those who bought at $10k, should not be euphoric when the price went up to $69k, because they have no profit until they sell, and that is not what happens in this forum because when ATHs are beaten there are bullish messages everywhere.

So tell me how does a person holding BTC lose if he doesn't sell? The only one losing is the paper value of BTC holdings which can recover once the price of BTC started to recover again. It isn't a fallacy IMHO, that is the reality. I do think your given example doesn't fit the scenario. A company that goes bankrupt needs to liquidate its asset so basically that company sold its BTC holding at a loss.

Quote from: Poker Player on June 26, 2022, 01:40:14 AM

Quote from: Abiky on June 25, 2022, 09:34:38 PM

1 Bitcoin = 1 Bitcoin, right?

Yes, but with a Bitcoin in 2012 you couldn't even afford a steak dinner with beer, and today you can buy a car with it.

1 Bitcoin of 2012= 1 Bitcoin of 2022 + 1 Bitcoin Cash + 1 Bitcoin SV Grin

,

Abiky

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Quote from: Darker45 on June 25, 2022, 11:17:54 PM

What is the problem here? I'm quite sure El Salvador didn't buy Bitcoin expecting that it doubles its USD value overnight. Nayib Bukele must have been aware right from the get-go that Bitcoin isn't like some shitcoins that could artificially by pumped and dumped in order to make gains. Nayib Bukele must have known better.

But why do you guys look at some falling paper value? Although I'm not sure this is how a country handles its finances, if I were a president and there's some fiat money idly lying around gradually devalued and it's in the middle of a bear market, I'd also be proudly proposing they be used to buy Bitcoin instead.

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

Poker Player

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Quote from: Abiky on June 25, 2022, 09:34:38 PM

You can't lose if you don't sell.

You can.

There are several of you who have made such statements in the thread, but that's a fallacy that is widely used in the investment world, not just in Bitcoin. Tell it to the one who has an investment that is going to 0, like shares of a company that goes bankrupt. He hasn't lost because he hasn't sold a stock that is worth 0? LOL.

In the same way, we should not rejoice when the price rises. Those who bought at $10k, should not be euphoric when the price went up to $69k, because they have no profit until they sell, and that is not what happens in this forum because when ATHs are beaten there are bullish messages everywhere.

Quote from: Abiky on June 25, 2022, 09:34:38 PM

1 Bitcoin = 1 Bitcoin, right?

Yes, but with a Bitcoin in 2012 you couldn't even afford a steak dinner with beer, and today you can buy a car with it.

worle1bm

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They are not selling the coins as they are not tarders but you will see Nayib Bukele supporting btc and buying at these dips clearly indicating they are holding it in treasury reserves.When prices were up they were in profit but now as it's down they are in accumulation period and will gain the good position again with price recovery.

Nrcewker

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Quote from: Cryptornd on June 21, 2022, 06:45:40 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

Isn’t your statement regarding this matter is too biased and a bit early?
I mean not only El Salvador, but also 90% of the Bitcoin investors bought Bitcoins when the price was around 45k usd on an average.
Does that means that our investment is underwater now? I guess no. As Bitcoins as a Digital coin has already proved its value long ago. When BTC suddenly went to 3k usd from 18k usd back in 2018, then again it broke the resistance and touched its ATH.
Similar pattern is also seen this time.
So with El Salvador, almost all Bitcoin holders are holding their coins and waiting for the coin to rise.
Don’t be impatient.

Darker45

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What is the problem here? I'm quite sure El Salvador didn't buy Bitcoin expecting that it doubles its USD value overnight. Nayib Bukele must have been aware right from the get-go that Bitcoin isn't like some shitcoins that could artificially by pumped and dumped in order to make gains. Nayib Bukele must have known better.

But why do you guys look at some falling paper value? Although I'm not sure this is how a country handles its finances, if I were a president and there's some fiat money idly lying around gradually devalued and it's in the middle of a bear market, I'd also be proudly proposing they be used to buy Bitcoin instead.

Abiky

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Quote from: Marvell1 on June 23, 2022, 11:58:52 PM

Their Bitcoin is still 2301BTC I see no loss here, how are they in the underwater while their bitcoins are still intact? All of us investing in bitcoin know it's a long-term investment, investing in future technology, so this process cannot be successful in a day or two, but must be counted by years. Bitcoin's devaluation is not surprising or out of the ordinary. No asset can grow forever without correction, when the market recovers, you will see what El-Salvador has done.

Exactly. You can't lose if you don't sell. 1 Bitcoin = 1 Bitcoin, right? Saying that El Salvador's investment is "underwater" is nothing more than a failed attempt from mainstream media and governments to scare away as much people as possible from Bitcoin. Believe me, the pioneer cryptocurrency has a lot of enemies that don't want it to prosper. Expect criticism, false propaganda, and misinformation in order to minimize Bitcoin's presence in the mainstream world.

I think El Salvador's President has been doing a great job by buying and "hodling" Bitcoin during the bear market. Once prices start to skyrocket, the government will be able to have more money in its pockets (and possibly be able to pay off its debt). The effects would be so profound that other countries will be inclined to adopt Bitcoin as legal tender. Who knows if in the future El Salvador turns from a developing country to a developed one? Just my thoughts Grin

Ale88

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Quote from: Cryptornd on June 21, 2022, 06:45:40 AM

The country's Bitcoin investment is underwater.

Ok, and? They're currently underwater just like many other people, I don't see the problem. Sooner or later bitcoin will go up again and their investment will turn profitable, but I highly doubt that that day you're going to open a thread to celebrate the money ES will make in case they decide to sell.

eaLiTy

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Quote from: Cryptornd on June 21, 2022, 06:45:40 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.

I am not a huge fan of those investment from El Salvador who is actually struggling financially and looking at the way he invested recently, it was a bold move as he was fiddling with tax payers money and not from his pocket. That being said, you can only say that their investment is underwater if they are forced to sell now to cover their budget, if not it is a wise investment in the long term.

Lanatsa

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Quote from: sklopan on June 25, 2022, 04:13:52 PM

How is the budget of this country now? It seems to me that this can be extremely problematic, especially if bitcoin falls in price several times.

We dont see any murmurs or complaints from their President but sure is that the current market condition did really make out some toll in terms of their Bitcoin holdings considering on how low we had plummet out but

we know that it cant really be considered to be a loss as long they dont really make some panic sell and we dont even know if they had purchased more coins when the market is on the bottom.
ITs not really that ending up on positive always when someone do tends to make out some investment.

Yes, this is alarming but its impossible for its leader or president doesnt know about the probabilities or risk which is something not really surprising.

sklopan

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How is the budget of this country now? It seems to me that this can be extremely problematic, especially if bitcoin falls in price several times.

blue_hurricanger

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Quote from: kamvreto on June 23, 2022, 10:18:17 PM

Nayib Bukele would have known what he was doing. Not no reason why he keeps buying bitcoins when the price falls. As long as El-Salvador keeps the Bitcoins and doesn't sell them, they have nothing to lose, it's only a matter of time. The President of El-Salvador is not bothered by the falling bitcoin rates, he just needs to be patient. buying again is a necessary thing to do to add bitcoin assets. When the bull market has arrived, Bukele will give El-salvador a lot of advantages.

Ohh, but he has a lot to lose. The amount of Bitcoin he bought come from the El-Salvador govt fund. Meaning he has to understand he can just hold it there forever. That isn't his personal wealth to do the hodl. There is also the interest rate as well.

CryptSafe

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I would commend El salvadors President for the fit taken so far investing in Bitcoin. Irrespective of the fact that the El salvador is the first country to officially accept Bitcoin as a legal tender and also means of store of value in the world. Though they bought in high and are currently running at a big loss but they are never perturbed with the events because for sure Bitcoin would surely spring forth to beat it's all time high. This the El Salvadors president did for the interest of the nation and his people are fully backing him up. This is one thing I love about them.

Marvell1

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Their Bitcoin is still 2301BTC I see no loss here, how are they in the underwater while their bitcoins are still intact? All of us investing in bitcoin know it's a long-term investment, investing in future technology, so this process cannot be successful in a day or two, but must be counted by years. Bitcoin's devaluation is not surprising or out of the ordinary. No asset can grow forever without correction, when the market recovers, you will see what El-Salvador has done.

GreatArkansas

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If El Salvador will just holds it and keep their hands strong and diamond, it will not be a loss for me.
A long-term goal is a must, they are aware of this right now since they bought those Bitcoin, and they are aware that the price could dump this worst.
For me, the amount of funds they used to buy bitcoin is just a cent for them, a very small portion.

kamvreto

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Nayib Bukele would have known what he was doing. Not no reason why he keeps buying bitcoins when the price falls. As long as El-Salvador keeps the Bitcoins and doesn't sell them, they have nothing to lose, it's only a matter of time. The President of El-Salvador is not bothered by the falling bitcoin rates, he just needs to be patient. buying again is a necessary thing to do to add bitcoin assets. When the bull market has arrived, Bukele will give El-salvador a lot of advantages.

Abiky

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Quote from: darkv0rt3x on June 21, 2022, 02:51:18 PM

There is only one thing that can be said: 1 Bitcoin = 1 Bitcoin no matter what. Bukele said that the country lost no value because they didn't sell. That's all. Period. And this a fact. You only loose in a downtrend if you have weak hands and sell!

Exactly. But most people don't understand that 1 Bitcoin = 1 Bitcoin, simply because they're determining its value against Fiat. As long as greed persists, we won't be going anywhere soon. How would "hyperbitcoinization" become a reality if people don't use Bitcoin directly for goods and/or services? Bitcoin is often seen as an investment than a real currency, so it's unlikely "hyperbitcoinization" will take place anytime soon. The day people switch to the Bitcoin standard, will be the day where the volatility issue will be gone for good. I'd say El Salvador's President is doing a good job by "hodling" BTC even during a persistent bear market. Fiat is bound to collapse because of ever-rising inflation rates, but Bitcoin will survive thanks to the way it was designed. With deflation in mind, Bitcoin should go up in Fiat terms sooner or later. Who knows if in the not-so-distant future El Salvador becomes a developed country with its Bitcoin "hodlings"? Just my thoughts Grin

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Quote from: carlfebz2 on June 21, 2022, 03:15:41 PM

Quote from: darkv0rt3x on June 21, 2022, 02:51:18 PM

There is only one thing that can be said: 1 Bitcoin = 1 Bitcoin no matter what. Bukele said that the country lost no value because they didn't sell. That's all. Period. And this a fact. You only loose in a downtrend if you have weak hands and sell!

We do really indeed have that basic principle on which as long you don't sell then you won't lose nothing and we've seen that bukele didnt make any moves yet he's fully aware on how volatile and risky the market is which it is really that make him prepared on times like this.He won't make btc as a legal tender without minding it's cons and risk.

People can't really just avoid to make out some criticism on something that they do see specially if there's someone who do bought on the peak or midway. Cheesy

In order for El Salvador not to suffer losses from the fall in the bitcoin rate, this country simply does not need to pay with bitcoins when settling with other states. Indeed, in this case, such calculations will take place at the current very low rate. Thus, in settlements between states, El Salvador is forced to use the same dollar, and inside the country it can use bitcoin.
We are all closely watching the bitcoin experiment that El Salvador has been conducting since September last year. We must pay tribute to the courage of the President of this country, who made a lot of efforts to ensure that bitcoin became legal tender in El Salvador.

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