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Topic: El Salvador retirees protest against Bitcoin as legal tender - page 4. (Read 1076 times)

legendary
Activity: 3710
Merit: 1756
Non-custodial BTC Wallet
~
No offense - you know poorly the psychology of people and society Smiley They always remember the worst - this is a fact. There is even an anecdote, a little vulgar, but I will cite it to understand how society thinks (please do not be offended by the content - this is just an anecdote):
I liked the anecdote but you need to explain it further as many will be looking at this and think that it is a bloody Christopher Nolan movie script  Cheesy.
psychology of people and society is that they always remember the worst but there are many who create a topic in speculation who never owned anything substantial and talks about how the market correction in cryptocurrency burned them as if the rest of the financial market levitates without any correction.

When it comes to the protest i stand by the protesters because that is not how a bloody government implements rules. You need to give everyone the opportunity and listen to every parties and clear their doubts and then implement it in multiple phases rather than rushing everything and confusing the general public who have no idea about Bitcoin.
 

I'm glad I was understood, thanks! Smiley
About market adjustments and other "incomprehensible words": these words are absolutely incomprehensible for a layman or a pensioner. For 99% so sure. And here, as expected, fraudsters, and "experts", and other people who are not very clean on their hands, will appear who, by lying, distorting information, or simply manipulating, will simply "pull" bitcoins out of not very knowledgeable people, which as a result, it will create a lot of negativity both to the crypt and to the situation as a whole. Or, on the contrary, they will be sold at an unrealistic price ... In a word, an unprepared audience is an ideal field for fraud
hero member
Activity: 2478
Merit: 582
Volatility is not essentially a bad thing. When you are using Bitcoin to make payments or for remittance, if you are using a payment processor then the coins will be immediately converted to fiat currency. Neither the seller, nor the buyer need to worry about the volatility here. And mainstream media has never presented a honest picture of Bitcoin in front of the ordinary people. They would like us to believe that it is the currency of drug dealers and pedophiles, even when they don't have any proof to back it up.
Not when in investment world. I understand that volatility for your fiat could be a bad thing (which we have seen volatility still happen in few nations) but when you are investing into something volatility is not a bad thing. These people are protesting something that has gone up 5x in a year, if they knew what volatility means then they would understand that legal tender being so volatile could bring them so much money.

It is basically El Salvador having a money that is pegged to USD and going up each time USD loses value. How could you not see that, almost all third world nations have a big economical problem and their fiat drops while bitcoin goes up, which means bitcoins volatility could actually be the answer to all problems they are facing.
legendary
Activity: 3626
Merit: 1217
When a person comes into contact with a new thing, he will understand the history of the thing.
Retirees may believe some negative news about Bitcoin.
The elderly are relatively weak in accepting new things.
May not want to accept new things.

Elderly people just want status quo in their life. So they are not in favor of new innovations, unless they are backed up by the government. In case of pension funds and all, the government gives the guarantee. But in case of cryptocurrency that is not the case. If the exchange rates go down and the user needs to sell the coins, then there is no option other than booking losses. For the pensioners, this is not something they are used to. Most of their funds are in the form of bank deposits and treasury notes, which provide regular monthly payments.
legendary
Activity: 3066
Merit: 1168
I'm not sure why they are protesting this?

They're essentially getting a free injection of capital because of BTC. If any other country was getting citizenship requests that are backed by millions of dollars in pledged investment to my home country I'd accept them in a heartbeat.

Just some archaic thinking. Let it sit for a while and they'll change their minds for sure.

Quote
On Sept. 7, 2021, El Salvador will become the first country to make bitcoin legal tender. The government even went a step further in promoting the cryptocurrency's use by giving US$30 in free bitcoins to citizens who sign up for its national digital wallet, known as “Chivo,” or “cool” in English.

Tomorrow is the day! Peaceful protests are always OK, people have a right to express themselves, but this will happen anyway! The government signed it and it's a done deal! It will be interesting to see how will this work in reality, this will be an example for other countries, and in case everything is fine, which I hope it will be, we will see other countries following this model!

 
jr. member
Activity: 54
Merit: 5
When a person comes into contact with a new thing, he will understand the history of the thing.
Retirees may believe some negative news about Bitcoin.
The elderly are relatively weak in accepting new things.
May not want to accept new things.
jr. member
Activity: 54
Merit: 6
Some retirees oppose Bitcoin because they do not really understand it and do not know the economic benefits and importance of Bitcoin. They may be more worried that Bitcoin is an unstable investment, and economic funds will be lost when the price fluctuates and falls.
Over time, when they understand the importance of bitcoin and how to use it, they will gradually accept and own it.
hero member
Activity: 2562
Merit: 577
I'm not sure why they are protesting this?

They're essentially getting a free injection of capital because of BTC. If any other country was getting citizenship requests that are backed by millions of dollars in pledged investment to my home country I'd accept them in a heartbeat.

Just some archaic thinking. Let it sit for a while and they'll change their minds for sure.

People don't adapt to change so easily, I guess this protesters are not yet fully understand how the crypto space operates and what benefits they can actually enjoy by using it, perhaps there should more awareness on this fir better understanding to enable easy acceptance.
full member
Activity: 1932
Merit: 174
★Bitvest.io★ Play Plinko or Invest!
Why did the protest comes month after the acceptance ? why not protest when this was being announced to be legalizing back time?
is this another political motivation ? though i don't really like the president  and even His way of governing yet this is favoring the crypto market so i assume that people in that region will benefits it all.
I'm not sure why they are protesting this?

They're essentially getting a free injection of capital because of BTC. If any other country was getting citizenship requests that are backed by millions of dollars in pledged investment to my home country I'd accept them in a heartbeat.

Just some archaic thinking. Let it sit for a while and they'll change their minds for sure.
it is obvious that there is some other power that behind this protest and I'm sure this is about politics .
sr. member
Activity: 504
Merit: 250
I'm not sure why they are protesting this?

They're essentially getting a free injection of capital because of BTC. If any other country was getting citizenship requests that are backed by millions of dollars in pledged investment to my home country I'd accept them in a heartbeat.

Just some archaic thinking. Let it sit for a while and they'll change their minds for sure.
hero member
Activity: 2002
Merit: 535
~
No offense - you know poorly the psychology of people and society Smiley They always remember the worst - this is a fact. There is even an anecdote, a little vulgar, but I will cite it to understand how society thinks (please do not be offended by the content - this is just an anecdote):
I liked the anecdote but you need to explain it further as many will be looking at this and think that it is a bloody Christopher Nolan movie script  Cheesy.
psychology of people and society is that they always remember the worst but there are many who create a topic in speculation who never owned anything substantial and talks about how the market correction in cryptocurrency burned them as if the rest of the financial market levitates without any correction.

When it comes to the protest i stand by the protesters because that is not how a bloody government implements rules. You need to give everyone the opportunity and listen to every parties and clear their doubts and then implement it in multiple phases rather than rushing everything and confusing the general public who have no idea about Bitcoin.
 
legendary
Activity: 3710
Merit: 1756
Non-custodial BTC Wallet
I think the only way for them to accept BTC is when the news shows that BTC has risen in price, when you have new highs people will say: "If I had had BTC then I would have a lot more money right now" I think when a Such an event is when they will reconsider, it is normal for many to have doubts, but when they see that they can use it as a savings tool that will generate more per year than the interest offered in a bank, they will accept it, it is logical, when it comes to filling your pocket will not seem like a bad idea to anyone.

No offense - you know poorly the psychology of people and society Smiley They always remember the worst - this is a fact. There is even an anecdote, a little vulgar, but I will cite it to understand how society thinks (please do not be offended by the content - this is just an anecdote):

An old Scotsman sits in a pub, sits, sips a beer, smokes a pipe.
He sat, sat and said: - This mill, I built myself, alone ... collected stones, mixed mortar and built ... but for some reason no one calls me McFlaren, the mill builder.
He sat there, took a sip of beer, took a drag.
- This garden, which now has the largest harvests of fruits and berries, I planted myself, alone ... everyone rejoices and gathers fruits. But somehow no one calls me McFlaren the gardener.
He sat there, took a sip of beer, took a drag.
- This bridge, I built myself, alone, cut down trees, sanded and made a bridge, now cars drive on it, people walk. But somehow no one calls me McFlaren the bridge builder.
He sat there, took a sip of beer, took a drag.
- But it was worthwhile to fuck this unfortunate sheep once ...
member
Activity: 700
Merit: 10
I am sure that those who protest for this reason have no idea that the main money laundering has occurred with fiat money, I think that people's ignorance has no cavity here, mainly this is because a lot of financial education is needed.

People mainly do not trust the volatility of BTC, Besides that there is a great campaign against BTC, both in the news and in the opposition of the government, all this helps that people do not understand the social problem very well, which, all it gets stuck for me for that reason.
When a person does not understand a technology, it is normal for them to lean towards the bad, which is shown by the news, actually when watching CNN in Spanish they do not recommend investing in BTC in their programs due to high volatility.

Volatility is not essentially a bad thing. When you are using Bitcoin to make payments or for remittance, if you are using a payment processor then the coins will be immediately converted to fiat currency. Neither the seller, nor the buyer need to worry about the volatility here. And mainstream media has never presented a honest picture of Bitcoin in front of the ordinary people. They would like us to believe that it is the currency of drug dealers and pedophiles, even when they don't have any proof to back it up.


The question arises, how then will all this work?
First, question number
1: bitcoin. How will citizens receive it - after receiving a salary, will they be exchanged for bitcoin?
2. And do they apply - make a payment in bitcoin, which automatically turns into fiat?
If both answers are yes, then the question is: why such a complicated process? If we have fiat at the entrance and fiat at the exit? And on top of that, there is a time between them, during which the stored bitcoin with a high probability will lose its value, which will lead to the loss of such a holder in the wallet!

I just can't understand the meaning or logic of accepting cryptocurrency as a means of payment in order to get out of a difficult economic situation? This is not an option, this is playing to the public and deceiving people! If you are not right - please, bring your thought in a well-reasoned way?

I think the only way for them to accept BTC is when the news shows that BTC has risen in price, when you have new highs people will say: "If I had had BTC then I would have a lot more money right now" I think when a Such an event is when they will reconsider, it is normal for many to have doubts, but when they see that they can use it as a savings tool that will generate more per year than the interest offered in a bank, they will accept it, it is logical, when it comes to filling your pocket will not seem like a bad idea to anyone.
for retirees they seem to be old enough to invest again, so there is no more time. when the bitcoin price is at its peak, of course they will scream when they use their pension money, so it seems hard to make money from crypto, it's different when it is used as a means of payment. on the other hand this will be beneficial for young people, because with the government legalizing it, then they will be more free to make a lot of money
legendary
Activity: 1232
Merit: 1888
Then do you agree with me when I said that El Salvador’s Bitcoin Legal Tender Law should NOT force users to accept Bitcoin? Because you posted something that questioned why those people were protesting.

Not completely. No government should force users to accept Bitcoin, or Euros or USD or any kind of fiat. But yeah, you've got a point there.
hero member
Activity: 2898
Merit: 635
I am sure that those who protest for this reason have no idea that the main money laundering has occurred with fiat money, I think that people's ignorance has no cavity here, mainly this is because a lot of financial education is needed.

People mainly do not trust the volatility of BTC, Besides that there is a great campaign against BTC, both in the news and in the opposition of the government, all this helps that people do not understand the social problem very well, which, all it gets stuck for me for that reason.
When a person does not understand a technology, it is normal for them to lean towards the bad, which is shown by the news, actually when watching CNN in Spanish they do not recommend investing in BTC in their programs due to high volatility.

Volatility is not essentially a bad thing. When you are using Bitcoin to make payments or for remittance, if you are using a payment processor then the coins will be immediately converted to fiat currency. Neither the seller, nor the buyer need to worry about the volatility here. And mainstream media has never presented a honest picture of Bitcoin in front of the ordinary people. They would like us to believe that it is the currency of drug dealers and pedophiles, even when they don't have any proof to back it up.


The question arises, how then will all this work?
First, question number
1: bitcoin. How will citizens receive it - after receiving a salary, will they be exchanged for bitcoin?
2. And do they apply - make a payment in bitcoin, which automatically turns into fiat?
If both answers are yes, then the question is: why such a complicated process? If we have fiat at the entrance and fiat at the exit? And on top of that, there is a time between them, during which the stored bitcoin with a high probability will lose its value, which will lead to the loss of such a holder in the wallet!

I just can't understand the meaning or logic of accepting cryptocurrency as a means of payment in order to get out of a difficult economic situation? This is not an option, this is playing to the public and deceiving people! If you are not right - please, bring your thought in a well-reasoned way?

I think the only way for them to accept BTC is when the news shows that BTC has risen in price, when you have new highs people will say: "If I had had BTC then I would have a lot more money right now" I think when a Such an event is when they will reconsider, it is normal for many to have doubts, but when they see that they can use it as a savings tool that will generate more per year than the interest offered in a bank, they will accept it, it is logical, when it comes to filling your pocket will not seem like a bad idea to anyone.
El Salvador citizens should be educated on bitcoin first and how it will be functional to the people and how to use it before it will be declare as a legal tender. I really understand the sentiments of the retirees as they have no enough knowledge on bitcoin so they stick on what they believe about its negative impressions. But if given chances to be well educated, i think they will totally change their stand on bitcoin and will accept bitcoin  as part of their financial system.

The change should not be so quick as people are still learning to adopt it. The process will take time for sure particularly with those aged people and retirees so the government should learn how to guide them too.
legendary
Activity: 2366
Merit: 1843
Leading Crypto Sports Betting & Casino Platform
I am sure that those who protest for this reason have no idea that the main money laundering has occurred with fiat money, I think that people's ignorance has no cavity here, mainly this is because a lot of financial education is needed.

People mainly do not trust the volatility of BTC, Besides that there is a great campaign against BTC, both in the news and in the opposition of the government, all this helps that people do not understand the social problem very well, which, all it gets stuck for me for that reason.
When a person does not understand a technology, it is normal for them to lean towards the bad, which is shown by the news, actually when watching CNN in Spanish they do not recommend investing in BTC in their programs due to high volatility.

Volatility is not essentially a bad thing. When you are using Bitcoin to make payments or for remittance, if you are using a payment processor then the coins will be immediately converted to fiat currency. Neither the seller, nor the buyer need to worry about the volatility here. And mainstream media has never presented a honest picture of Bitcoin in front of the ordinary people. They would like us to believe that it is the currency of drug dealers and pedophiles, even when they don't have any proof to back it up.


The question arises, how then will all this work?
First, question number
1: bitcoin. How will citizens receive it - after receiving a salary, will they be exchanged for bitcoin?
2. And do they apply - make a payment in bitcoin, which automatically turns into fiat?
If both answers are yes, then the question is: why such a complicated process? If we have fiat at the entrance and fiat at the exit? And on top of that, there is a time between them, during which the stored bitcoin with a high probability will lose its value, which will lead to the loss of such a holder in the wallet!

I just can't understand the meaning or logic of accepting cryptocurrency as a means of payment in order to get out of a difficult economic situation? This is not an option, this is playing to the public and deceiving people! If you are not right - please, bring your thought in a well-reasoned way?

I think the only way for them to accept BTC is when the news shows that BTC has risen in price, when you have new highs people will say: "If I had had BTC then I would have a lot more money right now" I think when a Such an event is when they will reconsider, it is normal for many to have doubts, but when they see that they can use it as a savings tool that will generate more per year than the interest offered in a bank, they will accept it, it is logical, when it comes to filling your pocket will not seem like a bad idea to anyone.
legendary
Activity: 1456
Merit: 5874
light_warrior ... 🕯️
They are NOT “protesting against Bitcoin”, they’re protesting against the laws that FORCE them to accept Bitcoin. I already said it in another thread that accepting Bitcoin legal tender is OK, but forcing the people to accept it without giving them the right to say “NO” will be a problem. El Salvador should let Bitcoin be used in its own merit.
Man, be realistic ... after all it is absolutely not important what these people are protesting against, this is just a formality. Those who have hired these people have a single goal - to create a negative media background around Bitcoin. At least being a resident of the same corrupt country as El Salvador, I have something to compare with ... when every four years during elections, officials put pressure on people working in the budgetary sectors of the economy, when all the protests are paid from the state funds. Therefore, for me this news is fiction (knowing that such a protest can only cost a few thousand dollars).
hero member
Activity: 1540
Merit: 722
Leading Crypto Sports Betting & Casino Platform
The people who protest and stay against adoption in their country are totally normal. Whenever any adoption happens there will be some people standing against the adoption and El Salvador is one example. Also, there are many organizations that take benefit from the old corrupted and traditional system and bitcoin will not allow them to abuse the economic system and get an advantage so they will make people protest and make a negative atmosphere there. In my own idea, the protest is completely normal and nothing surprising.
 
legendary
Activity: 3710
Merit: 1756
Non-custodial BTC Wallet
I am sure that those who protest for this reason have no idea that the main money laundering has occurred with fiat money, I think that people's ignorance has no cavity here, mainly this is because a lot of financial education is needed.

People mainly do not trust the volatility of BTC, Besides that there is a great campaign against BTC, both in the news and in the opposition of the government, all this helps that people do not understand the social problem very well, which, all it gets stuck for me for that reason.
When a person does not understand a technology, it is normal for them to lean towards the bad, which is shown by the news, actually when watching CNN in Spanish they do not recommend investing in BTC in their programs due to high volatility.

Volatility is not essentially a bad thing. When you are using Bitcoin to make payments or for remittance, if you are using a payment processor then the coins will be immediately converted to fiat currency. Neither the seller, nor the buyer need to worry about the volatility here. And mainstream media has never presented a honest picture of Bitcoin in front of the ordinary people. They would like us to believe that it is the currency of drug dealers and pedophiles, even when they don't have any proof to back it up.


The question arises, how then will all this work?
First, question number
1: bitcoin. How will citizens receive it - after receiving a salary, will they be exchanged for bitcoin?
2. And do they apply - make a payment in bitcoin, which automatically turns into fiat?
If both answers are yes, then the question is: why such a complicated process? If we have fiat at the entrance and fiat at the exit? And on top of that, there is a time between them, during which the stored bitcoin with a high probability will lose its value, which will lead to the loss of such a holder in the wallet!

I just can't understand the meaning or logic of accepting cryptocurrency as a means of payment in order to get out of a difficult economic situation? This is not an option, this is playing to the public and deceiving people! If you are not right - please, bring your thought in a well-reasoned way?
hero member
Activity: 2394
Merit: 756
Someone needs to do an investigation into these protests. Who is provoking the people in El Salvador? There is a lot of FUD and fake news being circulated and it seems to be pretty organized. No one is forcing ordinary people to use BTC. It is their choice whether they want to use cryptocurrency or not. Given this, I don't see any point in protesting against the move. The rollout hasn't yet begun, as the Bitcoin law is effective only from 7th September. And according to rumors, Malta and Panama are next in line.

We don't know what's the real situation happening as we are not living on that country but if their citizen is not really force to use bitcoin then provably this is just a propaganda, maybe this is made by their political enemy so that they can create fud also have something to blame with current administration. For sure we will see like this in future but what good thing is they are starting to use bitcoin and its better to ignore the current news since it will not give any good contribution to bitcoins.
sr. member
Activity: 913
Merit: 252
Someone needs to do an investigation into these protests. Who is provoking the people in El Salvador? There is a lot of FUD and fake news being circulated and it seems to be pretty organized. No one is forcing ordinary people to use BTC. It is their choice whether they want to use cryptocurrency or not. Given this, I don't see any point in protesting against the move. The rollout hasn't yet begun, as the Bitcoin law is effective only from 7th September. And according to rumors, Malta and Panama are next in line.
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