Pages:

Author

Topic: El Salvador run or survive? - page 5. (Read 580 times)

stomachgrowls

hero member

Activity: 3010

Merit: 794

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.

Yaunfitda

hero member

Activity: 2870

Merit: 594

Quote from: samcrypto on September 23, 2021, 08:26:31 AM

Quote from: Oasisman on September 23, 2021, 06:10:42 AM

Well, what I think is that El Salvador won't survive using Bitcoin as a medium of exchange or expect people to actually use it to buy something in a daily basis. Of course people would always think Bitcoin as a store of value due to its high volality.

Now, If you think Bukele won't survive the market fluctuations, the answer is, he will. He bought the dip so what would you expect? He's not gonna dump those Btc. He knew how huge the possibility for Bitcoin to hit the 6 digit figure in the future.

They understand this for sure, this is the real problem with Bitcoin because of its fluctuations it becomes as a store value and people are not using it for their daily spending because they know its real value, we this will be a huge challenge for El Salvador on how they can encourage their people to actually buy and spend it.

Anyway, its too early for them to leave the market I believe they are buying more during the dip and that’s the best thing they can do during bear. They’ll succeed on this, many country will follow.

Well if they are smart, maybe they are going to hedge it against USDC for good measures. But if not, then the people of El Salvador will going to hold on their bitcoin and then buy some at this dip.

Regarding the government's buying the dip, you can't go wrong about it, unless the price is not going to bounce back. But we all know how resilient bitcoin is, if the price goes to 6 digit at the end of the year then its a win-win for the country of El Salvador.

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

Quote from: uneng on September 22, 2021, 09:28:55 AM

El Salvador continues buying more bitcoins despite the most recent crash. As the president stated, "they can never beat you if you buy the dips", concluding next is a "presidential advice". I can imagine how banks, public employees and people in general who don't understand the volatility of the market must be mad on him for putting even more public funds in bitcoin.
A crash like this might trigger another wave of protests in El Salvador against bitcoin and Bukele. Actually he has been already accused of implementing a dictatorship in the country. I don't know if this information proceeds though.

This is basically the proof that El Salvador is acting smart about crypto. They can't just sell their whole coins because they fear that it would go down even more, obviously they would stand by their decision because selling would show them as weak and the decision as bad. However the reality is that we are talking about something that is profitable for the whole nation and they decided to buy 150 bitcoins more.

Buying some more is the proof that they know their decision is the right one and they are not feeling sorry about it at all, they knew the risks while coming in and they are not doing anything differently and do not think differently just because it dropped.

adaseb

legendary

Activity: 3808

Merit: 1723

The price changes are bad. If it was like most stocks which maybe have a max swing of 5% a year. Then it wouldn’t be the end of the world however the people there are already living in poverty so them losing 10% in a week is unacceptable.

I think eventually people will be able to keep USDT or USDC which is much more stable than their currency and people will be happy. Right now most people are happy because the got the air drop for free. However when it’s time to actually work and get paid BTC most people will not opt for that option unless they can hedge in some way.

sarmrakib

full member

Activity: 1292

Merit: 101

Vave.com

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

I think it had a tough decision before use it as a legal currency .The president surely thought a lot before doing it .I think it is really a high risky to use it as straight currency of the country .There are many thing on concern especially the fluctuation is a thing which always make you frustration if it goes high of the price you will be on profit but if it become crash you will loose everything you have .So i think they are really surviving now at the moment after accepting btc it is continuously behaving like high volatile even got down several time .Now lets see how the make their next plan to overcome and the using is really interesting to me .

aoluain

legendary

Activity: 2436

Merit: 1362

Also remember Bitcoin wasnt introduced to replace the Dollar, its purely optional to use
by each and every citizen. The people who are going to use it should surely be aware
of its "volatility".

Anyone who understands this should be able to "zoom out" and look at the bigger picture.

Also the people who embrace this will do so to their own advantage.

samcrypto

sr. member

Activity: 2044

Merit: 314

Vave.com - Crypto Casino

Quote from: Oasisman on September 23, 2021, 06:10:42 AM

kotajikikox

full member

Activity: 2548

Merit: 217

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

El Salvador is going nowhere but to stand by that decision , they have already passed that Law adopting and making bitcoin as legal tender so no matter what happened they will still keep it there.
fluctuation will happen even if they don't adopt bitcoin so what bothers you in this sentiment mate?
their position is strong even if there are rallies here and there yet nothing can stop them from using bitcoin.

Oasisman

hero member

Activity: 2716

Merit: 552

cryptomaniac_xxx

hero member

Activity: 1344

Merit: 540

Quote from: Fundamentals Of on September 22, 2021, 09:22:13 PM

Quote from: cryptomaniac_xxx on September 22, 2021, 02:42:11 PM

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

I'm under the impression that when it was reported that they bought the dip, it doesn't mean that they are going to have bitcoin as an asset reserved. I speculated that the amount of bitcoin they buy is for those citizens they haven't given the supposedly $30 worth of BTC. So there's no issue with the government as far as price fluctuations.

I would rather prefer that the government will have the Bitcoin it bought during the dip to be used as a reserved asset rather than as a dole out to the people. As a reserved asset, at least the government could release it as soon as it has already grown in price significantly. But as a dole out, a lot will definitely be converting the BTC to USD even with a loss. Buying the dip is gone wasted.

Of course they might put their money in bitcoin as a reserved assets. But you have to understand that the President announced that they will give $30 worth of bitcoin. And I'm under the impressive that it will not be an one time airdrop, it might take little by little. So they bought that dip to maybe give the second round for those people who haven't received it yet. People can't wait, if the government said that they will give it by this month, they have to, otherwise we will see another set of protest in the street saying that they haven't received their bitcoin. And then when everyone received it, then it is the time to buy the dip and put it as a reserved.

Fundamentals Of

sr. member

Activity: 2380

Merit: 366

Quote from: cryptomaniac_xxx on September 22, 2021, 02:42:11 PM

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

What do you think about El Salvador amid price fluctuations?

It could be risky for them, nevertheless the real winner here is El Salvadorian who are going to dab themselves into bitcoin as a store of value. As far as their merchants, the same, they just have to hold on it. So I guess El Salvador will survived amid this current price fluctuations.

The El Salvadorans are the real winners only if they appreciate Bitcoin as a store of value. But if they are accepting the free $30 and convert them immediately into fiat, price fluctuations mattered a lot. The opportunity to have the BTC grow in value is wasted.

cryptomaniac_xxx

hero member

Activity: 1344

Merit: 540

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

What do you think about El Salvador amid price fluctuations?

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

rahmatrf331

member

Activity: 588

Merit: 12

https://i.imgur.com/3fXQC4m.png

Quote from: LogitechMouse on September 22, 2021, 08:35:21 AM

They are holding 700BTC and for me who isn't holding too much Bitcoins, it is a very huge amount of Bitcoin.
Either way, the current dip is a dip that their President can sleep with it. Either way, their President will not enter into an investment that isn't know at all.

I believe that before he entered and invested into Bitcoin, he learned how it moves and its history. There is no need to run because Bitcoin will survive. There are some risks with it yes but I think that they can get over it

I also have the same opinion as you, the president of El Salvador before investing of course he has first understood the history of bitcoin. yesterday's price drop is not a problem for them, funds invested by the president of El Salvador are reserve funds aimed at long-term investments.

LogitechMouse

legendary

Activity: 2576

Merit: 1043

Need A Campaign Manager? | Contact Little_Mouse

hugeblack

legendary

Activity: 2702

Merit: 4002

El Salvador is taking fast steps and I don't know if they are right or not, buying 700BTC and keeping them as a reserve is not too many risky for a country.

the question is whether this will be a trend for Nayib Bukele (president of El Salvador,) or it will end with the end by the government period, and then the next government may sell these amounts at a price lower than the current price.

In general, the possibility of achieving losses is out of the question, which is a good direction for those who want to take risks, as I do not think that a country will do so without making calculations and expectations regarding the price.

ultrloa

legendary

Activity: 2758

Merit: 1228

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

They should be fine knowing bitcoin is at good shape once price became stable nor in good position after the bad drops happening on it and I understand that maybe majority of them will get panic about this situation since majority of them are not actually a bitcoin user they are j new adopters since there government legalize it but for sure they can survive knowing that bitcoin is already strong and steady.

davis196

hero member

Activity: 3164

Merit: 937

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

I think that we should stop being so focused on El Salvador.
El Salvador will be fine.Making 100 forum posts a day speculating about
"Will El Salvador do this?Will El Salvador do that?" doesn't help for raising the quality of the discussions,which are happening on this forum.
OP I don't understand parts of your post.What do you mean by "he has strong principles against the large number of bitcoin adopters after he legalized bitcoin"?
Do you mean that president Bukele legalized Bitcoin,because he has strong principles against the Bitcoin adopters?This doesn't make any sense.

Wexnident

hero member

Activity: 2702

Merit: 672

I don't request loans~

I don't think market fluctuations are enough of an influence for the country to be persuaded unless the majority actually want to stop investing. At that point, I'd reckon they'd have taken the loss by exiting the market just like that. In the first place, I don't think they would have invested in Bitcoin without even knowing what it's all about. It's been a decade, the market has seen many ups and downs and is a well known investment to be very volatile, I'm pretty sure the people there aren't that bunch of an idiots, they're running a country, I'd reckon they'd have enough research and understanding to know what risks they're actually taking.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

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

I think that you meant Nayib Bukele, which is the president of the country called El Salvador.

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

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?

While all his moves were great, they do bear a big amount of risk. And with bitcoin price falling, I guess that his problems with the opposition may get even bigger; the bitcoin buys are already getting investigated.
On the other hand, if he manages to explain that they will be saving a lot of money on the long term with his moves and if bitcoin price reaches much higher levels, making the country's initial investment worthwhile, then he's (more than) good.
I don't know how the politics are in El Salvador, I don't know how strong is the opposition and I don't know when will the new elections be in El Salvador. Hopefully there's enough time for the things settle and get on the right track there. He will probably not sell unless forced by the opposition. What will the opposition do... we'll see when they'll rule the country.