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Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 78. (Read 38982 times)

hero member
Activity: 504
Merit: 625
Pizza Maker 2023 | Bitcoinbeer.events
Just a quick note to indicate that the Bitcoin City project has recently won the 2023 LOOP architectural design award, under the landscape category.

What remains is obviously the most difficult part of the quest: turning the fancy images and models into something concrete (no pun intended), starting with the Bitcoin bonds to kick the infrastructure off, and then determining how to gradually finance and build all the rest of the city. I’d be happy if we see anything similar to the designs in real live in the span of a decade.

Note:
My knowledge of architecture is essentially null, and though I’ve read that the LOOP awards aim at being prestigious, I’m not really sure to what degree they are. Ideally, they’re not something like those awards given in the car industry, where every brand seems to have a best car of the year in one category or another, one competition or another.
 
See:
https://www.loopdesignawards.com/
https://www.loopdesignawards.com/project/bitcoin-city/


It sounds like the Bitcoin City project has achieved a significant milestone by winning the 2023 LOOP architectural design award. However, there is still a lot of work to be done in order to turn the designs into a tangible reality, including securing funding and navigating the logistics of construction. The idea of using Bitcoin bonds to kickstart the infrastructure is an interesting approach, and it will be interesting to see how the project progresses in the coming years. The LOOP awards are considered prestigious in the architecture industry and winning it is considered a great achievement The awards are given out to the best designs and projects in the industry and winning it is considered a recognition of the quality of the project.
legendary
Activity: 3892
Merit: 11105
Self-Custody is a right. Say no to"Non-custodial"
in the event that we might be able to have some faith that Bukele is a good actor and is not going to rug-pull the whole situation.. which is seeming to be the presumptions that you want to make stompix?
What I want to do is finally make people realize that you have to weigh on how much truth and how much lies are hiding behind everyone's tweets and actions, no matter if his name is Bukele or Warren Buffet!

No problem, if you want to proclaim that forum members are not engaging in enough critical thinking.. but you gotta admit that you frequently go overboard with your insinuations that we are a bunch of lemmings.

Just as how you must verify and not blindly trust a bitcoin transaction, just as how you can be your own bank and not trust an IOU card from a bank,

There are varying levels of trust that goes into any system based on who we are and what are our life experiences, and sometimes there might be needs for a certain level of blind trust if we might have other priorities... .. so for example, if I am struggling to put a roof over my head and buy some food, I might be ready, willing and able to take any job, which I might hope to be an interim job "until I get back on my feet," but sometimes people are not in a very good position to question certain kinds of matters, and I am not even trying to excuse it, but we do not necessarily have resources to be able to investigate everything that is presented to us... and don't get me wrong, I am ongoingly trying to encourage higher levels of critical thinking when I hear people tell me certain things that I find to be difficult to believe based on what I believe to be facts and/or logic that I have at my disposal (or within what I believe to be better than the facts and/or logic that they are working with).

it's the same when believing a lying piece of something like el Presidente in question! 

He seems pretty genuine to me, especially when I had seen him in various interviews.  Yeah, of course, I have not met the guy, and of course, we should be somewhat sceptical in regards to whether some folks might be misrepresenting matters, and if they are misrepresenting matters, then we might want to know the reasons for such misrepresentations.  No one would appreciate anyone lying to their face, but also many of us are going to weigh certain kinds of political objectives higher than others.. I mean in terms of what Bukele seems to be striving to achieve, and whether he is acting in the interest of El Salvador or some other interests or if I might consider what he is doing or trying to achieve to be contrary to my own perspectives and/or world values.. to the extent that I even have enough information to know all of these things.

I hate populism,

Is that what this is?  You might be labelling it.   "If everyone likes it, then I don't like it."  hahahahaha

"If everyone likes it, then it must not be good for me."

"If it tastes good, spit it out."

I hate leaders that claim all kinds of grand realizations and projects unseen by the world,

Sure, some claims are more reachable than others.

I had my full of it in the communist era, I know how to spot when someone is just making claims on how great things are, how great the economy is doing and his televised shitshow gets cuts because we have a blackout, the hot water is colder than the cold one and the gas had less pressure than the one from a farting pussycat!

Sure, actual material delivery of results is important, so if there is a claim that blackouts are happening less frequently, then there should be ways to measure it.. and perhaps even plausible reasons for why the results have changed from time 1 as compared with time 2.  The same would be true with something like crime rates or even economic prosperity, and some of that might not be easily measured, so we might have to take some time to see if the ways of measuring and the presentation of measurements are accurate, too.

What annoys me even more, is that exactly here, where most of us are done with politicians and their promises, there is an entire horde who has magically found out that when you stick your tongue down some politician's ass and you pass the 30 cm mark it stops smelling like shit and it becomes chocolate flavor, or whatever since I don't see any other reason for anyone kissing his ass that much like some (not you of course) do here!

We cannot deny that power comes in a variety of ways, including getting elected to a political office, so then there are powers to appoint people to powerful positions.  Sometimes power comes through charisma too, and I cannot really know if these systems are fair because sometimes people in powerful positions might have difficulties in terms of controlling their urges or even making sure that they are getting critical thinking within their circles.  Leaders are likely aware of those dynamics, and some of them are likely more abusive of their positions than others.  I have been accused of being paid by Michael Saylor.. and it is not like we can always know if someone might be being paid off or incentivized to spin.. and surely there have been sometimes when I have come to similar conclusion in regards to lacking of facts or a need for better facts, yet at the same time, I cannot see that we might just look at one side in a vacuum - in terms of Bukele taking a pretty bold position in terms of implementing Bitcoin specific laws... and so far he has not been lured into shitcoins, and so far it seems that he has been continuing to develop bitcoin specific routes forward and so far he has not seemed to have been rug pulling anyone, but yeah sure maybe there was some shenanigans going on with how some of that Chivo money had gotten "taken by scammers".. and yeah, maybe Bukele has been slipping some money into his own coffers, and yeah, maybe his level of fame and popularity causes people around him to be unable to question his motives or to request more transparency or to request better information disclosures (if it might be polls or if it might be releasing some progress reports that are factual rather than spins/conclusions that don't seem to completely add up)...

The 200MW geothermal well? There is no such in the whole world, and the one in the filming was already 10 years old!
The mining operation? One 10-second clip with (at that time) 3 yo gear that nobody has heard a word about it after! Have you?

Well that might not be good if they are making those kinds of misrepresentations about capabilities and progress..and yeah of course, there may well be some needs for contemporary clips and data to the extent that there might not be issues regarding security and/or sabotage.... I don't like when I see information that does not add up, either... and I agree with some of your insinuations that some of the spins might be a bit much.. including a bitcoin city without income taxes, yet at the same time, I don't have a problem in terms of having inspirational goals that are within a ballpark of reachable.. but if the numbers do not add up and cannot be reached then sometimes there will be needs for more modesty in the way that the goals are framed or in terms of the timeline.. and various factors that try to maintain somewhat realistic goals.. and in that regard, any of us likely realize that there can be some justifications for why politicians need to be more general when they are outlining goals, but they will be criticized for being too vague if they don't try to set forth some specifics, so no matter what there is some balancing that has to occur that is not always an easy way to balance, especially when there may also be some uncertainties that are based on low probabilities.. or maybe if there might be too much reliance on a bunch of low probability events all coming true, but a lack of adding them all up.. to assign the right level of probability to some future event that is described.

The green energy in Salvador that will allow mining? You have a fucking FSRU ship docked in the main port pumping LNG!
The 1 billion city constructed with only half of that since the rest would be invested in BTC ? It became so ridiculous even they had to come back on it and add it's actually more than 7 billions. Where are the rest of the 6 billion going to come in a 28 billion-a-year economy? Crickets!

Those criticisms seem to make sense.. but does that mean that the whole thing is bonkers?.. let's say that they bank on bitcoin prices going up 12x?  Maybe that going up 12x could take longer than when they would need the money?  So there could be some reliance on the bitcoin price going up, which makes it unrealistic to be banking on something that may or may not happen... but yeah, maybe they are able to provide some justifications for a variety of ways that the money might come or be raised or be generated or whatever.

You likely have looked at the details way more than this here cat... to the extent that I even give too many shits about getting into details of each and every claim or to suggest that he is not being genuine or trying to make efforts towards aspirational goals that may or may not have sufficient back up plans.

And despite this, despite every single thing going this way the cultist still never even dare to look if the idol has hidden something from them!

Sometimes you seem to be bitter.  I mean it is quite irritating for some of us pro-bitcoiners or bitcoin bulls or whatever you want to call us as if we are cultists or if we are being overly religious about bitcoin.... and I am not even completely sure what the proper balance is going to be because it seems to be true that bitcoin has historically outperformed the expectations of a lot of folks, even conservative bitcoiners, and there is no real reason to conclude that it does not have great chances of continuing to outperform other assets and even to outperform conservative expectations about its likely performance... and at the same time realizing and recognizing that nothing in relationship to bitcoin is guaranteed.. while at the same time recognizing and realizing that bitcoin remains amongst the greatest of asymmetric bets that is currently in front of any of us to make our choices, including that we are likely in the midst of the greatest peacetime wealth transfer in history... yet we cannot take any of that for granted, but at the same time, we have to recognize and appreciate bitcoin for what it is... and it seems to me that Bukele has surrounded himself with largely realistic bitcoiners, and of course, you can criticize each and everyone of them, but he is not consulting with Ethereum dweebs or Doggie coin bullshit, and I don't think that he tied any value up with FTX/SBF bullshit.. even though we cannot completely be sure about those, either.. however, there are some connections with Bitfinex, Tether and Binance and there may likely be some other points in which there could be vulnerabilities (or questionable relations) in his plans and structures, but I remain unconvinced that completely disclosing all of the details would be the right move given how so many well to do folks, institutions, and governments are hell-bent to work towards his failure in regards to bitcoin related projects and probably they hate him in other ways too.. just because he is a threat to status quo relations that strive to maintain Latin American countries and also less empowered people in ongoing servant positions.. and that seems to be part of the challenge that bitcoin ongoingly presents to the "powers that be" in terms of a lot of the ways in which bitcoin allows the empowering of the various disobedient folks.. and sure likely challenge the world as we know it including the various ways that wester powers have been controlling other parts of the world and gaining likely unfair benefits from some of the way matters are structured.

This is the world some want to create?  Count me out! This is not bitcoin, this is ass-licking and Twitter liking in hope of another 100$ in gain on the btc price!

I would think that ultimately bitcoin is for everyone, and whether bitcoin succeeds in El Salvador (or expands or not), there are aspects of bitcoin that can be used by friends and enemies, and I am not sure what to think if you believe that bitcoin is being used by exploiters or disingenuine folks, and maybe you are concerned about the inevitable rug-pull which surely could happen if Bukele or some of the various involved folks run off with bitcoin.. and yeah if any of us invest, then we might get rug pulled too.. and it is your choice whether to invest in bitcoin or in el salvador or neither.

I suppose you can still be there saying I told you so and calling anyone who supports Bukele as an ass-licker.. that's fine.. it is good to have various kinds of critics, and we don't all need to agree whether one direction or another direction is better or preferred anyhow.  On an individual level we do need to consider whether to invest, how much to invest, and how to spend our time and energies.

Is that better or worse?  I recognize that you are hinging on the "paid in full" claim as if that might be deceptive to say that it was paid in full when it was actually just rolled over.
Of course, it sounds better, but, do we know at what rates he got those loans, how much will he pay for them?
Because it might be a genius move or it might be some idiot rolling the loans, cause he won't be president forever, get me one another mandate, and then who cares, let the next guy figure it out!

That's why we verify numbers and data and we don't jump to conclusions before we have them all!
Well, some of us!

These are not bad points to the extent that they matter, and to me it seems quite likely that Bukele will be in office until about 2029.. and then if he is able to pick a successor that is able to win and to carry on the legacy, then maybe the exact details may or may not be released... to the extent that the details might be damning.. and there could be ways in which Bukele is making the less preferable decisions, but then banking on the BTC price going up in the next 2-4 years, and if the BTC prices go up, then he will be saved from any of his currently less preferable decisions... and there are other ways in which he could end up falling from grace, just like some other persons in bitcoin that we thought were heros and then they become personas non grata based on information that we find out later.  I don't know if Bukele might become some version of a Mark Karpeles or a SBF or maybe he will turn out to be a Trace Mayer.. Who the fuck knows? 

We largely ONLY have the information in front of us, and I am surely not going to fault you for raising questions or proclaiming that some of the matters do not add up, but sometimes your calls for disclosures might not exactly be the better ways forward given the specific situation that Bukele is in, and sure maybe he put himself into such a position because sometimes it does seem that he is overly cocky or overly poking the bear or stirring shit, and whether his approach is the better way forward is somewhat discretionary, and maybe history will end up telling us that it was a good way to approach the matter or maybe his poking will end up blowing up on him, and I would not put it past some of the powers that be to want to put high stakes on taking out Bukele, and I am not really going to know if they will be successful or if the fall out might be good or bad, depending on how much effort is put into the situation, and throughout bitcoin's history many of us attempting to pay attention to what is going on in regards to bitcoin, we have witnessed a variety of desperation efforts to quash bitcoin that have not really been successful so far, but sometimes we do not find out about some of the efforts that were being made, and was their government involvement in FTX and SBF's situation and will we find out or did that blow up in their faces, we may well not really know, even though we hear all kinds of spins that may or may not be correct, depending upon which side of the conspiracy theory you are buttering your bread...or do you want to take both sides of the argument so you appear neutral..;. this is not some kind of a neutral battle in regards to Bukele and to try to make some comparisons that he should do X, Y or Z might not necessarily make sense, while at the same time, we cannot completely be sure about whether he is a good guy or a bad guy and we just go based on various aspects that we believe to be more convincing or not.. and like I mentioned, we don't necessarily need to agree. .as you suggest, Maybe you are part of the cult too.. stompix, you are just part of the disagreeable part of the cult. Tongue   Cheesy Cheesy Cheesy Cheesy Cheesy
legendary
Activity: 2338
Merit: 10802
There are lies, damned lies and statistics. MTwain
Just a quick note to indicate that the Bitcoin City project has recently won the 2023 LOOP architectural design award, under the landscape category.

What remains is obviously the most difficult part of the quest: turning the fancy images and models into something concrete (no pun intended), starting with the Bitcoin bonds to kick the infrastructure off, and then determining how to gradually finance and build all the rest of the city. I’d be happy if we see anything similar to the designs in real live in the span of a decade.

Note:
My knowledge of architecture is essentially null, and though I’ve read that the LOOP awards aim at being prestigious, I’m not really sure to what degree they are. Ideally, they’re not something like those awards given in the car industry, where every brand seems to have a best car of the year in one category or another, one competition or another.
 
See:
https://www.loopdesignawards.com/
https://www.loopdesignawards.com/project/bitcoin-city/
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
in the event that we might be able to have some faith that Bukele is a good actor and is not going to rug-pull the whole situation.. which is seeming to be the presumptions that you want to make stompix?


What I want to do is finally make people realize that you have to weigh on how much truth and how much lies are hiding behind everyone's tweets and actions, no matter if his name is Bukele or Warren Buffet! Just as how you must verify and not blindly trust a bitcoin transaction, just as how you can be your own bank and not trust an IOU card from a bank, it's the same when believing a lying piece of something like el Presidente in question!  I hate populism, I hate leaders that claim all kinds of grand realizations and projects unseen by the world, I had my full of it in the communist era, I know how to spot when someone is just making claims on how great things are, how great the economy is doing and his televised shitshow gets cuts because we have a blackout, the hot water is colder than the cold one and the gas had less pressure than the one from a farting pussycat!

What annoys me even more, is that exactly here, where most of us are done with politicians and their promises, there is an entire horde who has magically found out that when you stick your tongue down some politician's ass and you pass the 30 cm mark it stops smelling like shit and it becomes chocolate flavor, or whatever since I don't see any other reason for anyone kissing his ass that much like some (not you of course) do here!

The 200MW geothermal well? There is no such in the whole world, and the one in the filming was already 10 years old!
The mining operation? One 10-second clip with (at that time) 3 yo gear that nobody has heard a word about it after! Have you?
The green energy in Salvador that will allow mining? You have a fucking FSRU ship docked in the main port pumping LNG!
The 1 billion city constructed with only half of that since the rest would be invested in BTC ? It became so ridiculous even they had to come back on it and add it's actually more than 7 billions. Where are the rest of the 6 billion going to come in a 28 billion-a-year economy? Crickets!

And despite this, despite every single thing going this way the cultist still never even dare to look if the idol has hidden something from them!
This is the world some want to create?  Count me out! This is not bitcoin, this is ass-licking and Twitter liking in hope of another 100$ in gain on the btc price!

Is that better or worse?  I recognize that you are hinging on the "paid in full" claim as if that might be deceptive to say that it was paid in full when it was actually just rolled over.

Of course, it sounds better, but, do we know at what rates he got those loans, how much will he pay for them?
Because it might be a genius move or it might be some idiot rolling the loans, cause he won't be president forever, get me one another mandate, and then who cares, let the next guy figure it out!

That's why we verify numbers and data and we don't jump to conclusions before we have them all!
Well, some of us!
legendary
Activity: 3892
Merit: 11105
Self-Custody is a right. Say no to"Non-custodial"
At least now we know through the latest tweet from the president of El Salvador, Nayib Bukele. that El salvador is able to pay or pay off the bonds that have matured for january even along with the interest.
And not a word on the $450m they took in a loan with Central American Bank for Economic Integration and the other $100m they took from the Inter-American Development Bank to pay $604 million in bond maturity.

Yep.. various ways to roll over debt happen all the time.. and the $21 million question might be whether they are being deceptive in terms of whether their debt is in getting into a more healthy state, a less healthy state or staying the same.

A presumption is that El Salvador is getting their debt into a more manageable and less dependent status... .. and surely there can be some questions in regards to whether those kinds of claims or inferences can reasonably be made based on actual known facts?

But yeah, let's talk about 800 paid in full when in reality it's just $604 million paid with the help of getting 550 million in loans!
And from 800 we're down to 54!

Is that better or worse?  I recognize that you are hinging on the "paid in full" claim as if that might be deceptive to say that it was paid in full when it was actually just rolled over.

Man, Bukele is playing everyone for fools just with some tweets, all it has to do is post the BTC sign and everyone stops questioning any of his statements.

Isn't he correct to assert that the claims that El Salvador was going to default incorrect?  That seems to be a pretty BIG deal, no?  So far, they did not default, even though many of the big players were proclaiming that they were going to default and also downgrading and denigrating their credit rating (worthiness).  That seems like a pretty big deal in terms of information warfare, to the extent information warfare is going on in these circumstances.

When was the last time somebody asked this guy to prove they actually bought those coins and they do have them? Fairly normal to ask Binance to do so, but god forbids we're asking the idol to show proof of any of his claims!
Don't trust, verify my ass!

I kind of agree with you on the point of having some kind of verifiability that El Salvador owns the BTC that they claim to own, but I also understand aspects of not necessarily disclosing the particulars... there are a lot of current practices in which finances are NOT very open, and sure governments are supposed to be more open because they are supposed to be accountable to the people of whom they are supposed to represent, yet I am not sure what good comes out of attempting to cause Bukele and the El Salvador government to be MORE open than other governments.. when we already should realize and appreciate that they are engaging in a kind of investment (into BTC) and a public posture in regards to investing into BTC that status quo PTB financial and governmental institution (and the status quo rich) are largely hostile to such investments and attempts at self-sovereignty that El Salvador is making and that there have been institutions in place for more than 50 years that have been hostile to self-sovereignty of smaller governments and various other smaller players including within western countries in which there are ongoing desires to suppress communities from their abilities to be self-sovereign... not that we can necessarily completely divorce ourselves from status quo institutions - or even status quo systems without a violent revolution, and bitcoin seems to be one of the ways in which less violence may well be able to take place in order to return some levels of self-sovereignty.. in the event that we might be able to have some faith that Bukele is a good actor and is not going to rug-pull the whole situation.. which is seeming to be the presumptions that you want to make stompix?

(*) I guess that there are a lot of people that benefited from the initial 30$ in bitcoin for downloading the Chivo wallet, and that therefore are considered ex-users (thus not engrossing the "never used it" segment).
I don't understand why is so hard to ask two simple questions in those surveys!
Have you used any bitcoins funds excluding the 30$ airdrop during this year? Have you used your airdrop money?
The simple difference between those percentages would tell more than any other question could do!

**note: this response fixes the missing bracket in your above quotes stompix.. in order to clarify what was your response and what was DdmrDdmr's.

Frequently we see surveys that are greatly inadequate in the ways that they ask questions and even which questions they ask.. so cannot really disagree with you about those kinds of concerns stompix.  We know that sometimes proclaimed neutral survey takers are not as neutral as they are striving to present themselves, and surely governmental and/or public entities might want to attempt to be more open, but sometimes they won't release raw data to the public..... .. For sure, we know that there are various forms of information sharing on the internet that are more free than they have been historically, but people still get concerned about NOT being able to speak freely on certain topics.. whether it might be something like twitter, or even a forum like this... .. .. We might know that sometimes there are fears about allowing information to spread too freely because sometimes the information might not be true and then also the public might not be able to discern true information from untrue information.... so surely, dynamics of the release of poll data has these kinds of concerns, and maybe even concerns about which questions to ask and whether the poll taker wants to know that information.. or there might be some rationale in which I agree with you, if you are already spending the time, money and energies to take the poll, then what's wrong with including a couple more clarifying questions?  Even some of the arm-chair criticizing that guys/gals like you and I do on the interwebs could end up motivating some folks who are involved in poll creation to become more inquisitive, and inspire journalists to ask the more probing questions or to spend money on on the ground investigations - which sometimes is not being done these days either.. who's going to pay them to send someone into probe?  People gotta get paid for their attempts at "investigative journalism," no?  Sure some will do it for free. .but at some point, they also start to get hungry, need to pay for lodging and transportation too... cover their costs.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
At least now we know through the latest tweet from the president of El Salvador, Nayib Bukele. that El salvador is able to pay or pay off the bonds that have matured for january even along with the interest.

And not a word on the $450m they took in a loan with Central American Bank for Economic Integration and the other $100m they took from the Inter-American Development Bank to pay $604 million in bond maturity.

But yeah, let's talk about 800 paid in full when in reality it's just $604 million paid with the help of getting 550 million in loans!
And from 800 we're down to 54!

Man, Bukele is playing everyone for fools just with some tweets, all it has to do is post the BTC sign and everyone stops questioning any of his statements. When was the last time somebody asked this guy to prove they actually bought those coins and they do have them? Fairly normal to ask Binance to do so, but god forbids we're asking the idol to show proof of any of his claims!
Don't trust, verify my ass!

(*) I guess that there are a lot of people that benefited from the initial 30$ in bitcoin for downloading the Chivo wallet, and that therefore are considered ex-users (thus not engrossing the "never used it" segment).
/quote]

I don't understand why is so hard to ask two simple questions in those surveys!
Have you used any bitcoins funds excluding the 30$ airdrop during this year? Have you used your airdrop money?
The simple difference between those percentages would tell more than any other question could do!
hero member
Activity: 2058
Merit: 710
if bitcoin development in el Salvador continues to progress and continues to have a positive impact, maybe within the next 5-10 years el Salvador will experience rapid progress.
with the adoption of bitcoin as the legal currency in el Salvador, and now it is starting to show positive developments, surely other countries will also continue to observe it and maybe will follow the same path as el Salvador, and adopt bitcoin.
The government of El Salvador are people who are very happy with Bitcoin and also really like Bitcoin so that the government will obviously do anything to be able to legalize Bitcoin in the country of El Salvador which of course does not make the country poor because the government always tries to make El Salvador more advanced than other countries in the vicinity. So for other countries that want to emulate this step in El Salvador, of course it's very good even though it still needs approval from state officials or important members of parliament within the country so that Bitcoin can be legalized as a legal currency for anything in all aspects.

For the benefit of those interested in learning Bitcoin and can afford going on a tourist I will recommend El-salvador as the best country to serve this purpose, there's alot to learn about Bitcoin and within the country for both adults abd the highschool children, Bitcoin has been a historical ground in El-salvador with diverse opportunities for both the citizens and tourist to enjoy the best of it all.
There in El Salvador, Bitcoin has become a very important thing for all its citizens to learn so that the government takes advantage of all sectors to be turned on like tourist attractions so that tourists want to come there and this will certainly be a good step to promote Bitcoin to people people who don't know Bitcoin by accepting Bitcoin as payment when buying anything there
LDL
hero member
Activity: 742
Merit: 671
EI Salvador's President gifted Bitcoin Designed Birthday Cake to Max Keiser



EI Salvador President Nayib Bukele purchased a birthday cake with bitcoin design for famous American filmmaker Max Keizer from his official Twitter page.

Nayib Bukele tweet following tweet from his official page...

" Waiting for @FitchRatings to downgrade EI Salvador's credit rating because we bought Bitcoin birthday cake."

@Nayib Bukele Tweet
legendary
Activity: 1974
Merit: 3049
if bitcoin development in el Salvador continues to progress and continues to have a positive impact, maybe within the next 5-10 years el Salvador will experience rapid progress.
with the adoption of bitcoin as the legal currency in el Salvador, and now it is starting to show positive developments, surely other countries will also continue to observe it and maybe will follow the same path as el Salvador, and adopt bitcoin.

"No man ever steps in the same river twice". The others who will follow the steps of El Salvador will go the other way as entire situation with global bitcoin adoption is changing all the time. Something will be easier as they'll have an opportunity to learn on mistakes of a pioneer, but many of pioneers opportunities will not be available for the next ones as well.

Maybe in the future we'll see something in common but as for now each case of adoption will be unique and interesting by itself. I doubt any can just copy El Salvador's experience.
hero member
Activity: 1022
Merit: 667
Top Crypto Casino


The idea behind adoption of Bitcoin in Salvador was, as the economy is remittance dependent (which amounts to 20% of their GDP) and transaction through Bitcoin network will reduce the cost of transactions for overseas workers, as well as they will be able to make their savings in Bitcoin which is the best asset to invest in. It was a prudent decision, however, the implementation faced obstacles as it was a departure from the norm. It is the high amount of external debt (which amounts to 90% of GDP) which caused financial difficulties, not the fault of Bitcoin, because the losses suffered due to the decline in Bitcoin price is approximately 50 million which is not significant.
The fact is, before the El Salvador bitcoin adoption there has been a high rate of economic crisis such as high inflation and external debt in El Salvador and to make it worst El Salvador does not have their own country national currency so they depend on the US dollar for currency exchange within the country, Bitcoin was adopted to provide an alternative for El Salvador to the US dollar, and to this point the only Bitcoin project that El Salvador has invested the country fund directly into is the Bitcoin bound project which has a long term goal with the country holding a good amount of bitcoin as a national bond. The country GDPR has not really had any impact on bitcoin and to this point, the government is putting more efforts into spreading bitcoin education and awareness trying to onboard the unbanked citizens with adequate information about Bitcoin and its alternatives features, this project is a long term project that requires time to mature with lots of infrustural requirements such as the development of the bitcoin city which will be a free economic zone in the country to house all bitcoin activities and business, El Salvador 🇸🇻 is the first country I the world to have such bitcoin oriented initiative.
jr. member
Activity: 56
Merit: 20
if bitcoin development in el Salvador continues to progress and continues to have a positive impact, maybe within the next 5-10 years el Salvador will experience rapid progress.
with the adoption of bitcoin as the legal currency in el Salvador, and now it is starting to show positive developments, surely other countries will also continue to observe it and maybe will follow the same path as el Salvador, and adopt bitcoin.

For the benefit of those interested in learning Bitcoin and can afford going on a tourist I will recommend El-salvador as the best country to serve this purpose, there's alot to learn about Bitcoin and within the country for both adults abd the highschool children, Bitcoin has been a historical ground in El-salvador with diverse opportunities for both the citizens and tourist to enjoy the best of it all.
that's for sure, because el Salvador became the first country to make bitcoin a legal currency in its country, and it will certainly be history for the development and progress of bitcoin.
sr. member
Activity: 672
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stead.builders
if bitcoin development in el Salvador continues to progress and continues to have a positive impact, maybe within the next 5-10 years el Salvador will experience rapid progress.
with the adoption of bitcoin as the legal currency in el Salvador, and now it is starting to show positive developments, surely other countries will also continue to observe it and maybe will follow the same path as el Salvador, and adopt bitcoin.

For the benefit of those interested in learning Bitcoin and can afford going on a tourist I will recommend El-salvador as the best country to serve this purpose, there's alot to learn about Bitcoin and within the country for both adults abd the highschool children, Bitcoin has been a historical ground in El-salvador with diverse opportunities for both the citizens and tourist to enjoy the best of it all.
newbie
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they will suceed as long they can keep on till crypto markete mature and reach stable stage.
hero member
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Nayib Bukele had a rather emotional tweet announcing the payment of the principal debt and interest on dollar bonds by El Salvador, where he complains that almost no one in the world covers this news except for the Colombian edition of Semana in Spanish.
But one can imagine what the number of publications would be if El Salvador did not make these payments.


Yeah true. The press thrives on negative news related to Bitcoin and this would have made for an interesting dissection. And I could have just imagined what the headlines would have looked like; probably something along the lines of: "Bitcoin has failed! Time to look elsewhere, Bukele!... heh!, It sounded funny in my head.  Grin
 But, anyways, it's a commendable feat achieved by Bukele and this proves that patience and dedication pays a lot. You know, it's quite funny that two countries has adopted the coin as legal tender, but it seems El Salvador seems to be in the limelight more. Just thinking...
 
jr. member
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if bitcoin development in el Salvador continues to progress and continues to have a positive impact, maybe within the next 5-10 years el Salvador will experience rapid progress.
with the adoption of bitcoin as the legal currency in el Salvador, and now it is starting to show positive developments, surely other countries will also continue to observe it and maybe will follow the same path as el Salvador, and adopt bitcoin.
legendary
Activity: 2618
Merit: 1504
At least now we know through the latest tweet from the president of El Salvador, Nayib Bukele. that El salvador is able to pay or pay off the bonds that have matured for january even along with the interest. And it seems that there are not many media that bring up positive news like this. however El salvador is still just getting started. so it cannot be said to have failed or will fail. because everything requires a long process to get success. nothing can be instant success. everything has to go through a long process.



Sourch :
Tweet Nayib Bukele

Nayib Bukele had a rather emotional tweet announcing the payment of the principal debt and interest on dollar bonds by El Salvador, where he complains that almost no one in the world covers this news except for the Colombian edition of Semana in Spanish.
But one can imagine what the number of publications would be if El Salvador did not make these payments.

https://twitter.com/nayibbukele/status/1617700039534731264

legendary
Activity: 2338
Merit: 10802
There are lies, damned lies and statistics. MTwain
It seems that NGO Mi Primer Bitcoin’s educational experience in El Salvador, has giving ground for a territorial expansion goal during 2023. Specifically, the NGO plans to extend their Diploma in Bitcoin programme to the US, Honduras and Mexico, amongst other countries, tailoring the experience somewhat to each specific country.

One of the interesting things will be that, as part of the proceedings, they’ll be creating an English version of Diploma in Bitcoin (currently only available in Spanish). The goal is to have the English version finished around April 2023, customized to better fit the prospect readers in the US (as opposed to strictly translating it from the Spanish version).

See (GT):
https://www-criptonoticias-com.translate.goog/educacion/mi-primer-bitcoin-adelanta-expansion-hacia-mexico-honduras-ee-uu/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp

Hear (1 hour long):
https://mobile.twitter.com/MyfirstBitcoin_/status/1617674399146184704?cxt=HHwWgMDQtfKSkfMsAAAA
hero member
Activity: 1540
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[snip]

Of course, this is positive news. Nayib Bukele is slowly proving that his decision to use Bitcoin as a path to economic change for the better is slowly starting to show. A familiar phrase to describe this success is "effort never betrays results".

In my opinion, it is the duty of those of us who support the El Salvador government's steps in the field of Bitcoin to spread this positive information because those who do not like continue to share information that brings down Bitcoin endlessly.
sr. member
Activity: 770
Merit: 266
Payment Gateway Allows Recurring Payments
At least now we know through the latest tweet from the president of El Salvador, Nayib Bukele. that El salvador is able to pay or pay off the bonds that have matured for january even along with the interest. And it seems that there are not many media that bring up positive news like this. however El salvador is still just getting started. so it cannot be said to have failed or will fail. because everything requires a long process to get success. nothing can be instant success. everything has to go through a long process.



Sourch :
Tweet Nayib Bukele



legendary
Activity: 2338
Merit: 10802
There are lies, damned lies and statistics. MTwain
The UCA (university institute of public opinion) has just released a survey where Salvadorians evaluate 2022. The survey was carried out against 1.273 people, conducting personal interviews in random houses in accordance to sought quotas by type of area (rural, urban), department (state), sex and age. It sounds conceptually correct from my point of view.

The survey includes a specific set of questions on bitcoin, reflected in the first link provided below between pages 42 and 53, and summarized in the second link’s infographic. The data seems to allow us to derive that:

-   Salvadorians believe, in their majority (81,7%), that their family economic situation has not improved thanks to bitcoin being legal tender. There is also a decrease in those that perceive an improvement, going down from 9,9% in 2021 to 5,7% in 2022.

-   Only 5,1% considers the general population to be the main (emphasis on main) beneficiary of bitcoin becoming legal tender, whilst over 60% point to the rich/foreign investors/government-president as those being the main beneficiaries.

-   74% (*) have not used bitcoin during 2022 (there’s also another 5% that have never used it). 21% declare having used it in 2022. Out of these users, 31,2% have only used it once, 33,8% between 2 and 4 times, and 35% 5 or more times.

(*) I guess that there are a lot of people that benefited from the initial 30$ in bitcoin for downloading the Chivo wallet, and that therefore are considered ex-users (thus not engrossing the "never used it" segment).

I don't consider 21% of people declaring to have used bitcoin during 2022 a failure, though is we go for those that have used it more than once, the figure drops to 14,5%. Nevertheless, taking into account that it is legal tender there, the heavy user segment is pretty low, meaning that there is still a large gap to cover in terms of practical recurrent usage.
The stat lacks a historical perspective of the evolution of the frequency of usage, which is something I hope they keep and compare vs 2023 data next year.

See (in Spanish, but with charts):
https://uca.edu.sv/iudop/wp-content/uploads/PPT-Ev-Anio-2022.pdf
https://uca.edu.sv/iudop/wp-content/uploads/Opinion-publica-sobre-el-bitcoin-en-el-anio-2022.pdf
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