El Salvador run or survive? - page 4.

STT

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The trend since the Salvador event has been downwards, price action has yet to prove it can move past that high just yet.

This is the recovery today but mostly its a repeat, when we are above the yellow line we have better momentum to proceed with. The bullish part would be the low is higher then the previous lows on prior sell days so it could be we resolve upwards and challenge that upper price range.

Boov

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Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

My judgement for EL Salvador, I am positive that it would bring brilliant outcome for all bitcoin holders also with other planning traders. This whale would surely survive, but for people who keep trusting bitcoin for years we should be aware the volatility and keep a strong motivations in order to survive. When right time come for $100k don't ignore it, take your chance to take yours because there's a tendency EL Salvador also take what's for him.

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Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

El Salvador government won't run and panic during bear times, Nayib definitely has a strong belief in the potential of bitcoin and will continue to hold. the world is paying attention to El Salvador which has made bitcoin a legal tender there, it would be funny if they freaked out during a bear market and sold all the bitcoins that they ^{(El Salvador)} bought.

Twinkledoe

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Quote from: Quidat on September 25, 2021, 06:45:09 PM

Quote from: Slow death on September 25, 2021, 05:20:18 PM

honestly this movement of El salvador is buying bitcoin without making the proper technical Is fundamental analysis and a bad move, days ago I read that the president of el salvador bought bitcoin when the price dropped to $45000, I remember at the time I commented that if the price of bitcoin dropped to $42000 then the president of El salvador would be frowned upon because he bought it when the price was high and then the price went down, that doesn't look good.

Going down with -3k isnt something for them to frowned upon as long they wont really be selling any coins for the sake of minding about getting some profits.I dont see that this would really be a reason for them
to revoke out their decisions on fully adopting bitcoin on every aspect or angle.For sure they are already aware or had already accepted the risk before they do make out any final decisions towards this.
So i dont really believe that they would run.There's no turning back now even though its risky but they are surely looking on the brighter side of things.

It is also too early to speculate on what they possibly gonna do with this bitcoin adoption. I don't think they will give up this early. Every implementation will have their own bottlenecks, and if the positive outweighs the negative, then they can always move forward. Let's give them at least 6 months and see what they have to say about making bitcoin as legal tender. Right now, it is not even a month after they implement it. So the conclusions may not be valid as it is too early.

Quidat

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Quote from: Slow death on September 25, 2021, 05:20:18 PM

honestly this movement of El salvador is buying bitcoin without making the proper technical Is fundamental analysis and a bad move, days ago I read that the president of el salvador bought bitcoin when the price dropped to $45000, I remember at the time I commented that if the price of bitcoin dropped to $42000 then the president of El salvador would be frowned upon because he bought it when the price was high and then the price went down, that doesn't look good.

Going down with -3k isnt something for them to frowned upon as long they wont really be selling any coins for the sake of minding about getting some profits.I dont see that this would really be a reason for them
to revoke out their decisions on fully adopting bitcoin on every aspect or angle.For sure they are already aware or had already accepted the risk before they do make out any final decisions towards this.
So i dont really believe that they would run.There's no turning back now even though its risky but they are surely looking on the brighter side of things.

Slow death

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honestly this movement of El salvador is buying bitcoin without making the proper technical Is fundamental analysis and a bad move, days ago I read that the president of el salvador bought bitcoin when the price dropped to $45000, I remember at the time I commented that if the price of bitcoin dropped to $42000 then the president of El salvador would be frowned upon because he bought it when the price was high and then the price went down, that doesn't look good.

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Quote from: el kaka22 on September 25, 2021, 04:09:49 AM

I guess they will learn from market fluctuations like how we did since 2013.

People from El Salvador who buy bitcoins and spend it for their day to day life's need will not mind about the fluctuations of bitcoins but people who get into bitcoin just for the purpose of short term holding might be facing problems of losing their hard earned money value due to bitcoin fluctuations.

One of the probable solution here for El Salvador citizens must be, if they spend for bitcoins for the purpose of using it as a legal tender then they must spend bitcoins as early as possible; it means do not buy bitcoins for month long expenses just buy bitcoins for one or two days' expenses hence short holding may not hurt much. This way they may get chances to escape from wild fluctuations of bitcoins.

They already know that the price would go up and down, they even said so themselves before they got into this. It is obvious that El Salvador got into it fully knowing that they were both a bit late to this current run (from 4k last year to 40k+ this year) but they also knew that it would be a great long term deal for them.

This is why I believe that they are fully proud of what they are doing right now. Obviously there are protesters and all that, obviously there will be people who are against it, however that doesn't change the fact that people who supported this movement there would still be supporting and wouldn't be changing their minds just because we had a little correction. It will not change and we will be doing a lot better so they realized long time ago that they will be doing fine in the long term and do not care about these short term movements.

lixer

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Quote from: el kaka22 on September 25, 2021, 04:09:49 AM

One of the probable solution here for El Salvador citizens must be, if they spend for bitcoins for the purpose of using it as a legal tender then they must spend bitcoins as early as possible; it means do not buy bitcoins for month long expenses just buy bitcoins for one or two days' expenses hence short holding may not hurt much. This way they may get chances to escape from wild fluctuations of bitcoins.

Yeah, not sure how their government will take care of their people against extreme volatile days of bitcoin. I mean after the current bull run which may end in December 2021, we may have usual year long bear run in 2022 which might be not suitable for the people who get paid in bitcoin and saving bitcoins for their daily life. Moreover, bitcoin is in initial stage and El Salvador's decision to adopt might be a real time case study for most other countries.

Hopefully people from El Salvador might have planned to survive against the fluctuations of bitcoins hence I do not think they will run away from these.

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Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

If bitcoin begins to be legalized in the country of El Salvador, then there is a possibility that the crypto market will develop rapidly in the region, with various reasons that can convince the public from the results of regulations that have started to legalize bitcoin, if bitcoin has become a legal medium of exchange in the country, then there is great opportunity for investors to play bitcoin in the country, and maybe this will not affect sales even though the market is in a volatile state, given the high hopes that when the market returns to normal, investors can play in the country.

el kaka22

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Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!

I guess they will learn from market fluctuations like how we did since 2013.

People from El Salvador who buy bitcoins and spend it for their day to day life's need will not mind about the fluctuations of bitcoins but people who get into bitcoin just for the purpose of short term holding might be facing problems of losing their hard earned money value due to bitcoin fluctuations.

One of the probable solution here for El Salvador citizens must be, if they spend for bitcoins for the purpose of using it as a legal tender then they must spend bitcoins as early as possible; it means do not buy bitcoins for month long expenses just buy bitcoins for one or two days' expenses hence short holding may not hurt much. This way they may get chances to escape from wild fluctuations of bitcoins.

BuNga_cute

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Quote from: Kusman on September 24, 2021, 06:57:42 AM

I also wonder how El Salvador is going to manage the times that Bitcoin price fluctuates a lot in a positive or negative way. It is especially more important to hold the control of the situation when the price drops a lot in a short time. Because El Salvador is also aware of something that we see the bear market from time to time. At those times, El Salvador should have a backup plan to prevent their people getting into a dire condition.

El Salvador before legalizing Bitcoin as a legal tender must first learn about Bitcoin. So a situation like now where the price of Bitcoin is very volatile,
I believe Nayib Bukele as president of El Salvador already has a contingency plan against all of this, and can control the current situation. Even though
El Salvador is not a big country, but I believe they have a good government. So I predict El Salvador will survive from the bad crypto market situation.
After all, not all of their country's finances are used to buy Bitcoin, I believe the government of El Salvador has a reserve fund in case of a difficult situation.

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Quote from: ultrloa on September 24, 2021, 05:26:39 AM

Quote from: mumang siat on September 24, 2021, 05:16:30 AM

Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

All countries should also think about this, legalizing bitcoin and other coins, by making binding rules for the viability of fiat currencies, meaning these two things must be in balance, if cryptocurrency is deemed necessary in any country. It will greatly affect investors, if there are fluctuations in the markets of countries that have started to legalize it, but overall this influence will not have a major impact on the survival of bitcoin, especially regarding the selling price, because in fact those who determine the price of bitcoin are also big investors.

Hopefully its easy to implement that but for sure there's a conflict of interest will happen between certain financial institutions by super power countries, also maybe the threat of bitcoin to eliminate something old system will be one of the barricade since some got benefits on it but hopefully the 1st world country will go adopt it since for sure we can see something great happen and all of us bitcoin user around the world will earn something huge on its outstanding acceptance.

That's why it needs special rules that bind between the two, both fiat currencies and cryptocurrencies as a whole, indeed to run both is difficult, if there are no rules that apply well, but if the rules already exist and are implemented, then the opportunity for both is very large, if one country is able to prove success in running, then other countries will definitely follow the development of that country, hopefully this is the first step to legalizing cryptocurrency as a whole.

Kusman

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I also wonder how El Salvador is going to manage the times that Bitcoin price fluctuates a lot in a positive or negative way. It is especially more important to hold the control of the situation when the price drops a lot in a short time. Because El Salvador is also aware of something that we see the bear market from time to time. At those times, El Salvador should have a backup plan to prevent their people getting into a dire condition.

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Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

El Salvador is just a small part of the bitcoin market in which seemingly not really bringing big effect for now(though the long time effect is surely on the way)
but if your point is to ask ? el salvador will survive from this lol. though their country now is facing hard time for totally adopting crypto from the people but they will push this through .

ultrloa

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Quote from: mumang siat on September 24, 2021, 05:16:30 AM

Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

All countries should also think about this, legalizing bitcoin and other coins, by making binding rules for the viability of fiat currencies, meaning these two things must be in balance, if cryptocurrency is deemed necessary in any country. It will greatly affect investors, if there are fluctuations in the markets of countries that have started to legalize it, but overall this influence will not have a major impact on the survival of bitcoin, especially regarding the selling price, because in fact those who determine the price of bitcoin are also big investors.

Hopefully its easy to implement that but for sure there's a conflict of interest will happen between certain financial institutions by super power countries, also maybe the threat of bitcoin to eliminate something old system will be one of the barricade since some got benefits on it but hopefully the 1st world country will go adopt it since for sure we can see something great happen and all of us bitcoin user around the world will earn something huge on its outstanding acceptance.

mumang siat

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Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

All countries should also think about this, legalizing bitcoin and other coins, by making binding rules for the viability of fiat currencies, meaning these two things must be in balance, if cryptocurrency is deemed necessary in any country. It will greatly affect investors, if there are fluctuations in the markets of countries that have started to legalize it, but overall this influence will not have a major impact on the survival of bitcoin, especially regarding the selling price, because in fact those who determine the price of bitcoin are also big investors.

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Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

before making the regulation legal, I think they have seen the previous information regarding bitcoin. So, I think, when they accept bitcoin as a legal payment alternative, they should accept the correction that is taking place. if they remove this regulation again, they are not sure about it.
after all, El Salvador is an independent country. I think they will continue to survive. after all, there are many alternatives to avoid being affected by fluctuations from bitcoin, such as when the transaction is complete, they can directly exchange bitcoin for the currency they have. besides, this is also the first drop that happened after they accepted bitcoin.

STT

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Only reason to consider El Salvador important is as a precedent and also as establishing BTC as legal tender in international terms which the IMF heavily disagreed with apparently. It has tax implications beyond its borders and so on. The actual trade from the country itself is not that big, its smaller then most oil majors; 400 BTC isnt alot to me thats 8 old block rewards. I hope they find success but the country has larger issues ongoing then 1 option in their legal tender options so it cant be judged merely from their implementation alone

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Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

They probably think the situation like this before they adopt and choose to get involved in this risky investment and I'm sure that they are well-prepared for the dumps that most of us think will give losses to everyone. I'm not seeing this to have a huge negative impact on the market nor El Salvador will decide to stop but I see this as an opportunity to accumulate more as they started already.

We sometimes overly think about the market, we usually think negatively once the market is in the red. Should we have to keep that kind of mindset? I don't think so, it is time to put an end but instead to support and boost them.

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Quote from: stomachgrowls on September 23, 2021, 04:12:19 PM

Quote from: Dhaniii on September 21, 2021, 08:41:48 PM

El Salvador is already one of the people that big investors talk about, because he has strong principles against the large number of bitcoin adopters after he legalized bitcoin as a legal medium of exchange in his country. while the market conditions are fluctuating, will he be influenced to sell or will he continue to survive? current issue!
What do you think about El Salvador amid price fluctuations?

For sure they are aware with the risk and they wont really be making out such decisions in accepting or legalizing Bitcoin into their country if they havent really consider out these kind of probabilities.

Of course they are fully aware but for sure it wont really be enough for them to ran away.Why they would really be selling out if they could just simply make out transactions basing off with p2p btc tx.?

Just too early or we are just too in hurry to see these probabilities on places where had been fully accepted bitcoin whether they do ran off or stay with these kind of situations.

definitely, the assigned government entities did their homework before the approval of bitcoin as their legal tender. i don't think they decided in haste and will just give up easy. as they are already into this market, they will learn and understand more what needs to be done to keep this decision sound for them. it will really take time before they see the positive impact on their system. you can't tell the difference in just few days of implementation. at least give them time to assess this new situation.

Topic: El Salvador run or survive? - page 4. (Read 580 times)