Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 19. (Read 40390 times)

when you bet country budget +50% is a jackpot already. Last time i've checked the price (2 days ago) it was around ath so i do not care here about what's going on right now.

Sometime you don't blame people for how they analyse the market and take profits,  sometimes most of those people that make such statements are all doing so based on their knowledge a d approach to bitcoin holdings, sometime they after the money and could easily take profit and walk away but for someonwho have been around the market for a long time such short-term market movement won't worth being considered to risk your entire bitcoin holding on and at that, you can easily look forward or look away from the present bitcoin price and focus on the long term profits and the confidence that comes with long term bitcoin accumulations.

Anyways, there is no point trying to spoon feed anyone about the the advantages of holding bitcoin for long term, since we have seen from past records already how bitcoin have made several significant moves and recorded alot of positive price benchmark each time.

So from your own understanding now, when the market is bearish we should rush to sell and not to hodl, this is a very wrong practice and those that engage in such only end up being losers because they cant afford to make profits when its expected of them to hold and wait till the market rises, we are still having more bullish trends ahead than we are sing currently and we can also consider the rate at which bitcoin is going to be at the pace of running towards a new all time highs as many as possible before the end of this month, we shouldn't focuses on bear alone, we have halving ahead as well which is to give more hope for bull markets coming.

going on

you just have no one to care about. Where he doesn't understand he's in gamble it looks like. He may spend say 0.01% to pay coders on github. Last time i dealt with bitcoin team it was a problem to receive 120 bucks from them. you're son of a bitch perhaps, you know

Your inclination to sell BTC is probably why you are going to have fun staying poor - because you fail/refuse to understand that bitcoin is the end game - not getting more dollars.

I imagine that you are either a low coiner or maybe more likely a no coiner right now.  Or perhaps you are a shitcoiner, since you don't seem to understand bitcoin sufficiently enough to recognize and appreciate that there is value in accumulating and holding it... and maybe at some point they might start to spend some of their bitcoin, but if they have other ways to spend, they may well not need to spend their bitcoin in order to prosper as a nation and to live within their budget while having investments such as bitcoin.


There may well not be any rush to pay off any debts so long as there is income to service the debts and if the debts are on fairly reasonable terms.  On the other hand, if the debts are not on reasonable terms, then it may be helpful to pay them down, but not necessarily to deplete the bitcoin investment in order to accomplish such pay downs.

The idea of bitcoin is that it remains the one to spend last, so if there are other ways to pay down the debt, then use up those other inferior payment options prior to dipping into the bitcoin investment.. basic ideas of Gresham's law... When there are choices spend the weaker money before using the stronger money.. and bitcoin remains the strongest money, so far, known to man.

Newspaper in El Salvador 🇸🇻

"President Bukele mentions that the country's reserves have been fed not only through direct purchases but also through mining operations and the money deposited by investors from the residency program."

The future looks bright to the #Bitcoin nation 🇸🇻

https://twitter.com/TheBitcoinLife_/status/1768903342816694279?t=6CKgBs4qZMUSLNg-G07PtA&s=19

Tim Draper's comments about Salvador is not unreasonable. Bitcoin had already reached the highest ATH. As a result, Salvador is now in a profitable position from Bitcoin. President Bukili was aware of this possibility, which is why he went so far with Bitcoin adoption. He wants to be a big holder of bitcoins not only for this short term profit of bitcoins but also for long term. He wants to keep his country among the few powerful countries in the long run. In the meantime we are also getting proof of his action plan and implementation. One of Draper's few suggestions I support is that he thinks El Salvador could play a significant role in paying off the IMF's debt if the profits it earns from investing in bitcoins. He also commented that Bitcoin will play the biggest role in the development of El Salvador. Today, major developments in the country are now relying on Bitcoin. Many countries like El Salvador will now follow their lead.

in circumstances he is i would have sold whole thing right now. He begin to spend his luck now i think

Yes, Nayib Bukele's decision to adopt bitcoin as currency in El Salvador and also use it as an investment asset is currently going well. Maybe currently El Salvador is being talked about a lot among bitcoin lovers. Because as we know, currently the price of bitcoin can be said to have experienced a fairly high increase. So it is certain that the Bitcoin investment made by the El Salvador government has generated profits (if sold at current prices).

However, I am sure that Nayib Bukele and his government have a bigger target than that. Because here we are talking about investment within a country, not individual investment. So you can be sure that the benchmark or sales target held by the El Salvador government will be much higher. At perhaps $100K, I think that's still too low for El Salvador to target. Additionally, if El Salvador sells its bitcoin assets now, or after the halving and or during the bull market. In my opinion, this sale could be said to be premature. Because as far as I know, El Salvador intends to invest in Bitcoin for the long term. So if you only hold it for 3-4 years, I don't think the investment can be called long term.

So in conclusion, even if the price of bitcoin reaches $100K, I don't think it will have a big impact on the people of El Salvador. Why,? because I'm sure the government of El Salvador will not sell its bitcoin at that price ($100K). However, for El Salvadorans who own bitcoin individually, it will definitely be very profitable for them, if bitcoin reaches a price of $100K.

President Bukele's decision to switch into Bitcoin running economy has yielded results so far with Bitcoin hitting $73k and imagine the impact that this will have in their economy when Bitcoin must have reached the price of $100k and above, and we would have countries that didn't buy this idea initially begin to see reasons and the need to switch in their economy to tap into Bitcoin running Economy. President Bukele is a man with vision and saw the future and took such an imaginable decision for his country El salvador.

Well, I'm glad that Bukele decided to do this, because lately there has been quite a bit of talk about where these bitcoins are, where they are hold, and how many there are.

It is noteworthy that there were almost twice as many bitcoins as previously thought, this shows Bukele’s commitment to bitcoin, which means that he not only talks, but also continues to act, accumulating as many bitcoins as possible. It’s also very good that they are hold on a cold wallet, this will definitely add reliability to their storage. Since these bitcoins were purchased with taxpayers' money, I think it is right to allow people to see where they are stored.

Its no more a new thing that we begin to hear a lot of things about El-Salvador, even those that cannot help themself will open mouth in talking about how helpless this country is, but the people aren't complaining neither is there riot or crisis there in El-Salvador, but it surprised me as you begin to see the way a lot of contrary opinions are coming to paint them black about what is going to take them out of their poverty and poor economy completely, so i asked, if this is all about been jealous or some are just ignorant of the developments happening with El-Salvador, that makes them to be talking in such regard.

Maybe the El Salvador government has its own reasons for moving some of the Bitcoins to cold wallets, so it's actually not that important for everyone to explore because the most important thing in this case is about the courage of the El Salvador government which is still making Bitcoin as an important investment asset for their own country.

It could be that at this time they still don't need more cash so they only move part of the amount of Bitcoin they currently have. Or it could be that what was transferred was only limited to the investment profits they had gained so far through Bitcoin even though they still wanted to have more Bitcoin for the future of their country.

You can't expect to see a nice reaction for a people doesn't really take the extraordinary risk for betterment of certain things and I understand his sentiments towards what El Salvador's President done since this is also what has been said by some people during their announcement of making bitcoin as their legal tender and for sure their statement will be change once they see a great changes on economy thru their decisions they made for investing or making bitcoin as their legal tender.

For now expect that there are still skeptical people on recent moves they do since what they understand that bitcoin is high risk investment. But they didn't realize that bitcoin's potential is so huge and ETF approval is just start of everything and for sure we can see more of this especially new adoptions will came.

Its all assets of El Savador government since investing bitcoin in 2021? its huge amount regarding how much bitcoin price today and Nayib Bukele success giving much profit for his government exactly keep accumulate bitcoin after crashing under $20k.
After bitcoin dropping, El Savador president announce to accumulate 1 bitcoin in daily day and seems they have many bitcoin in their investment assets before active buy back 1 bitcoin in one day.
Its fantastic if my government can allow what regulation did by El Savador government, purchase 1 bitcoin every day since price dropping under $20k and today hit more higher price and can't imagine how much profitable earn.

because if they will need some cash they then need to sweep whole thing

That was a good move. Took them long enough, but still. Also, it says that they moved a large portion to the cold wallet. Why not all?

El Salvador moved more than 5,000 BTC to a cold storage wallet worth about $400 million dollars.

El Salvador started buying the first bitcoins as treasury assets in 2021. They said they would buy at least one bitcoin per day and they have maintained that streak. When El Salvador first started buying bitcoins, one bitcoin was worth around $50,000. But currently the price of Bitcoin has increased and touched $73 thousand which is the highest price ever.

"We have decided to transfer a large portion of our bitcoins to a cold storage wallet and store that cold wallet in a vault within our national territory," You can call it our first bitcoin piggy bank. El Salvador's president, Naib Buckley, said on his Twitter.

X

https://www.coindesk.com/policy/2024/03/15/el-salvador-has-thousands-more-bitcoins-than-previously-known/

People here are not going to know what you mean, unless you explain how you happen to be so supposedly smart in regards to the soundness (or lack thereof) of El Salvador's finances.

If you are making extraordinary claims then you need evidence (perhaps extra ordinary evidence), and more than just mere assertions of supposed logic that is based on your feelings about how the world supposedly works.