Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 35. (Read 42715 times)

I think that it is quite likely that Bukele is going to be able to seamlessly transition into his next term, and sure it is just a bit strange because he is not supposed to be the president, but a lot of people just act as if he is still the president.. and I suppose one of the things that he has going in his favor is that he is so popular.. even though sometimes those kinds of popularity matters can be taken too far if he is actually not being honest in regards to things like making sure that coins are secure and that he is really not being deceiptful about any of his dealings...and there are always going to be controversy and even folks who are opposed, including that he is likely not very popular in the eyes of status quo powerful foreign countries such as the USA and leaders of the European Union.


There always could be ways to accumulate in better ways, but it can sometimes be tough whether individuals, institutions or governments to stay convicted in buying when the price is dropping so much, so there is buying of the dip at $40k, then at $30k and then at $20k and it keeps dipping.. so the passion for buying kind of dries up for a lot of people because people run out of money to buy and they also become nervous about buying when they had already lost so much value and it is unclear if it will continue to lose value... so easier said than done in terms of abilities to just keep buying, even though it seems more clear after the fact rather than while we were going through those trying times throughout most of the second half of 2022.

I don't think El Salvador has any plan of selling their Bitcoin because I have never heard Bukele say anything about selling. I think he understands that Bitcoin is a long-term investment and wants to take full advantage of the benefits of keeping it for a longer period. For now, I don't think the country is under any financial stress that might warrant such action because they have not even defaulted on any financial obligation.

Although we know that nothing is certain from almost all the election polls from El Salvador, Nayib Bukele could comfortably win this year's presidential elections. Apart from his Bitcoin policy, he has also performed well in terms of security. We are aware that one of the biggest problems in Latin America is gang violence and the current armed gang war in Ecuador is a typical example. But Bukele ensured that he reduced gang violence by arresting these gangsters and putting them in correctional facilities. This has led to a 60 percent decrease in the rate of homicide and has also improved economic activities because small business owners are no longer scared of these gangsters who intimidate and steal from them.

Is there a possibility that he might be that be replaced by a new one on this upcoming elections? Pretty sure that there would really be those non Bitcoin believers if we do speak about into those citizens
but if most likely that Bukele did bring out that huge changes in El Salvador not really just that talking about Bitcoin acceptance or adoption then most likely he would really be re-elected.
Speaking about on the coins that they've been hoarding, we've been seeing that they do even trying out to accumulate as much as they can into those times that the price is
going down.(remembered on 18k-ish price) on which there are already those discussions that they had made out the wrong decision on accumulating coins specially on a declining market
but where are those people now?

I don't see why any of us should conclude that El Salvador would be selling their bitcoin, even if there is some price appreciation, unless maybe it is just a small portion.   BIG investors do not tend to get in and out of their long-term assets  trying to play around with market moves, so there is nothing in the statements by Bukele to suggest that El Salvador would be fucking around with their coins in terms of trying to trade, and it seems to me that he said that exact opposite.

Sure, right now El Salvador is in a bit of an interim status, since Bukele is not the official president, there are elections in February, and presumptively he will be resuming his term in June-ish.... 

Am sure this was a statement made quite some times back a d they mean everything statement published from them to work upon as long as it has to do with bitcoin, they don't have to keep announcing everyday that the are buying bitcoin and holding after which they had already done the first public announcement on that, secondly, you can see for yourself on how they would have been acquiring bitcoin ever since then and how they would have bought as many as possible althrough the periods bitcoin went as dip as $15,000, you can imagine what they would have profited from that alone by now and how we are still moving ahead to get to the last ATH of $69,000 and from there to another new ATH after this year halving.


Of course they may not have to sell now because this isn't the big catch yet, we are still anticipating for the bullrun to come after the halving, then there will be more buying and selling opportunities than before, there's always profitability in holding for some time.

The national slogan of the government of El Salvador was that they will buy one bitcoin per day but we have no conclusive information on how far they have been able to implement this slogan and they are still buying one bitcoin per day or more than that. However, after the Bitcoin ETF approval, it is true that the Salvadoran government made $13 million in profit from the bitcoins invested, but the Salvadoran government did not sell the bitcoins at that time, but held the bitcoins invested by the president of Salvador for a long time. As the market is currently dumping again, the $13 million in profits from Bitcoin invested by the Salvadoran government may not be realized now. Since the President of Salvador invested using the DCA method, the main objective of the Salvadoran government is to hold bitcoins for the long term rather than sell them.

He Rosted Blackrock so well, hahaha. also I can tell he's very proud of that because of the obvious reasons. they adopted Bitcoin at the  govt level at a time when no other country or big company was ready for that. and now Big corporations and countries like blackrock are trying to get in Bitcoin after realizing they've been missing literally worlds one of the biggest technologies which also can be a money-making machine.
Because Blackrock and All those asset management companies obviously don't care about Bitcoin's core purpose. they are all only after money.

there could be two reasons for that. First not having proper awareness about Bitcoin, second Bitcoin's high transaction fee and time in confirming. for us it might not be a big problem. for for daily buy/sell stuffs in real life we need an instant method of payment. and bitcoin is not suitable for that. that is why I think people hesitate to use bitcoin in regular transactions.

It looks so simple, I hope it's not just a photo. Because I am a little doubtful about this photo, hopefully if it has been opened there will be many who intend to buy mining equipment. If you look at Bitcoin user data then I have little doubt, the mining industry seems to be difficult to develop.  Currently the population of El Salvador is 6,382,105 if this 10% is only around 638,210 who know Bitcoin. Indeed they already have an investment in Volcano Energy El Salvador mining. But until now the mining industry in El Salvador is not much data that I can get.

A bitcoin hardware store is preparing to open in El Jonte, El Salvador.

Their aim is to provide the community with the best tools and tools they need to protect their own Bitcoins.

  Picture x

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As we all know, El Salvador became the first country to accept Bitcoin in 2021. El Salvador President Bukkel In November 2022, Bukkel said in a news release that his country, El Salvador, was willing to buy one bitcoin per day for the foreseeable future. El Salvador may have done what they deserve the credit for being this successful

By the way,
This news of yours is dated January 9, 2024.It's news from a few days ago that someone already posted here, you can check it out if you want, I'm quoting.

I read in the news that El Salvador made a $13 Million profit in Bitcoin investment. They got this when the Spot Bitcoin ETF was approved by the SEC. I don't know if this is true, but the investment started in September 2021 and after November 2022 they will buy 1 Bitcoin every day. If accumulated from November then they have added 419 Bitcoin. In this period it seems that their investment has turned positive. Although there is news that many El Salvadorans have not used Bitcoin as a means of payment.

Source: https://www.coindesk.com/business/2024/01/09/el-salvadors-btc-bet-is-13m-in-profit-as-bitcoin-etf-approval-approaches/

Even if you believe the research of this UCA university, and the research there is carried out, as I understand it, with grants from American sponsors who are in advance negative towards El Salvador’s legislation on the legalization of BTC, then even then it must be stated that 12% of Bitcoin users in households  payments, this is a pretty good result considering only 2.5 years of the spread of this innovative initiative by Bukele.  Such studies should initially be treated critically and not particularly believe these results.  I, simply based on logical experience and taking into account the youth and teenage stratum of Salvadoran society, would assume, without any abstruse research from this very UCA, that the real percentage of users is somewhere around 18-23%.  In my opinion these are more realistic numbers.  And not like not 12%. 

And further. 
Ask yourself.  In the country where you live, are there so many hundreds of thousands of people or people around you who regularly pay Bitcoin in household payments? 
I'm sure almost no one in your circle.  And then you will clearly understand how far El Salvador has already advanced in the matter of legalizing such an excellent financial instrument as BTC.

If this is true then where is the other subsequent results we have been hearing about El-salvador's Bitcoin progression, it uses and how it has been going from one stage of adoption to another with the people so interested in bitcoin, having many established business economy making payments in bitcoin, teaching bitcoin in schools and every other developments that bitcoin adoption has brought to El-salvador, if truly they are not using bitcoin, there wouldn't have been the insight of where bitcoin is today in El-salvador, because nobody will like investing more on what is taking less interest of the people, I've said this before, what the media are saying is far from the reality of what's happening in El-salvador.

It should be noted that in the quest to sanitize a country from criminals, some of the innocent becomes a victim of circumstances but however, it is really bad for any opposition to make criticism to a government that is working so hard to make the environment conducive for all and cleanse from criminals. There's no way criminals can be totally identified but in the course of thorough investigation and interrogation, criminals can be detected from the innocent ones.

Inasmuch as the government have recorded massive reduction in the rate of criminals in the country, I think the government efforts should be appreciated and applauded rather than making criticism of them claiming they're mostly arresting the innocent ones. In fact, in any country that's recording high level of criminality, everyone becomes a suspect till the actual criminals are held hence the involvement of the innocent.

El Salvador recorded 3 homicides between January 1 and 11, compared to 6 homicides in 2023, less than 50% of the record for this period. At present, out of the total murders in El Salvador in 2024, 100 murders will stop in 2024. The government of El Salvador has ordered Nayeb Bukele.  Although homicides occur in El Salvador, they are estimated to be at a rate of 1.6 per 100,000 homicides.  In this way, in the year 2024, killings will be eliminated in the country of El Salvador.
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Salvadoran Bitcoin usage in 2023 is unusual

88% of Salvadorans did not use bitcoin in their transactions in 2023, even though it has been legal tender since 2021, a survey by the private Central American University (UCA) confirmed this.

When asked, "In 2023, have you ever used Bitcoin to buy or pay for something?", 85% said they had never used it, 3% had never used it, and 12% said they had used it.

https://ticotimes.net/2024/01/11/salvadoran-bitcoin-use-uncommon-in-2023

El Salvador's president, Nayib Bukele, arrested all the criminals in his country, and pacified these criminals. Due to the pacification of criminals, the number of crimes has decreased drastically in the country, which El Salvador is now known to the whole world as a peaceful country. I respect El Salvador as a peaceful country, and the government I live in is very corrupt. And they use evil people to win elections, so in my country's ratio, the government of El Salvador has done the best job by arresting the criminals.

Inspiring story of a digital normads turned a bitcoin fastest growing community contributors in El-salvador.

It's a digital moment to learn something new about the short story of an El-salvadoran named Gerardo Linares and his loving girlfriend on how they turned into contributing to Bitcoin development in their community after being a digital normads for long working under government. https://bitcoinmagazine.com/culture/how-two-digital-nomads-launched-the-fastest-growing-bitcoin-community-in-el-salvador they ensure that they make the best of their contributions in seing people learn about bitcoin after which they teamed up with an organization that focuses on Bitcoin education, Mi Primer Bitcoin, you can read the more of the story behind their achievements till date.

El Salvador President Nayib Bukele says "so, we got in way before BlackRock."


https://twitter.com/WatcherGuru/status/1745229174829203803?t=uJrbZf_q3F0UkrkXzM7weA&s=19

The government of El Salvador has been facing so much criticism because of the crackdown on criminal gangs. Opposition leaders carried out diverse anti-government campaigns to express their displeasure with the policy and to solicit public support to counter it. I even saw a documentary that showed that some persons who were arrested were innocent. But with the recent statistics on the reduction of criminal activities, it is now clear that the policy is effective.

I live in a country that also has a high crime rate but the government is doing absolutely nothing about it because these criminals help them to win elections. Immediately they are arrested there is always an order from the central government for them to be released. Nayid Bukele has successfully reduced the rate of homicide because he has no connection or affiliation with these criminal gangs. Before he became president other presidents have been treating these criminals with kids gloves because they benefited from them. To show his willingness to fight crime and rehabilitate criminals, he also invested heavily in prisons and other correctional projects.

With the reduction of criminal activities, the country would now attract tourists and other investors that could take advantage of the Bitcoin-friendly policy if the nation.

Really the government know all the criminals and can find and lock them up if they want, no one hide from the government even the most notorious of criminals, 6656 homicide rate reduced 154 homicide crimes in 2023 which is a significant reduction in the number, this points to a government that works, there have been a significant positive development coming in from the Nayib bukele led adminstration in El Salvador.

Crime/insecurity is one of the most dangerous weapons that destroy economy of a nation, and for such tackling insecurities have been one of the most sort after things forany countries leaders, and El Salvador is one country that have suffered from all that which have crippled the economy of the country before the coming of Nayib but with this development if there be any policy that could sustain the fight against insecurity in El Salvador in few years from now, El Salvador could achieve a great economic freedom and infrustiural developments that could change the phase of progress in the country.