El Salvador will be the richest country in the world in 8 years? - page 10.

ilovealtcoins

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Quote from: Prince Malik on May 20, 2022, 11:25:05 PM

That's one of the things that really hold my attention, this is a unique experience that Salvador have and i believe it will be awesome if finish with making this country one of the richest countries in the world, but it all depend to the Salvadoran government and how long they will hold bitcoin

Lol, how long or how much you hold bitcoin will never make El-Savador the richest country in the world. Are you confused, bitcoin can make a person or organization rich by holding bitcoin but a country to become rich must rely on resources, education and people. Can't just hold and expect wealth from a volatile coin, it will make El-Salvador fall sooner rather than rich.

Doan9269

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Quote from: Ale88 on May 20, 2022, 10:18:18 PM

I don't know, 8 years to me looks like a very short amount of time, I really don't understand how some of you may even think that bitcoin will be able to turn ES from one of the poorest economy in the world into the richest country in the world. Especially because they own just less than 2,000 BTC, that's a huge number for an individual but a small one for a company and/or a country.

have you seen people investing on ordinary fiat and making it successful in life? if that happens then i can assure you bitcoin can do better in many ways because it appreciates with time forget about being volatile or not, am not saying a country will turn fully developed from developing and underdeveloped countries within this short range but the entire economic and financial status of such countries can be improved, they will be debt free, their government will concentrate on what to offer the country to improve development and livelihood, because i believe a house is not built a day, it takes a while and same is expected of countries that adopt bitcoin, they will be growing gradually till they become fully developed.

Quote from: Marvell1 on May 20, 2022, 11:22:38 PM

El Salvador holds a large amount of bitcoin, I hope they have a perfect plan with it that can help them become better in the future.

i will give a thread here that talks all about El-Savador's bitcoin adoption read through the page and other next subsequent pages to get more information about what El-Savador has in place upon bitcoin adoption.

Prince Malik

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That's one of the things that really hold my attention, this is a unique experience that Salvador have and i believe it will be awesome if finish with making this country one of the richest countries in the world, but it all depend to the Salvadoran government and how long they will hold bitcoin

Marvell1

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Bitcoin should not be exaggerated, El Salvador is facing economic problems and will even be at risk of default. Accepting bitcoin as a legal tender could be one of the solutions to revive their economy and reduce dependence on major powers, but it still doesn't seem to work.

To become rich, a country must have a large enough amount of mineral resources, good education system and talented leaders and cannot depend on holding bitcoins. El Salvador holds a large amount of bitcoin, I hope they have a perfect plan with it that can help them become better in the future.

Ale88

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Quote from: noormcs5 on May 20, 2022, 07:47:10 PM

Eight years is a big time frame and no one can guarantee if El Salvador will be the richest country or not b that time. It depends upon how many bitcoin El Salvador have and what will be the bitcoin prices after eight years.

I don't know, 8 years to me looks like a very short amount of time, I really don't understand how some of you may even think that bitcoin will be able to turn ES from one of the poorest economy in the world into the richest country in the world. Especially because they own just less than 2,000 BTC, that's a huge number for an individual but a small one for a company and/or a country.

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Quote from: rhomelmabini on May 20, 2022, 04:41:50 PM

Quote from: thaylonramonn on May 19, 2022, 05:25:14 PM

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

That will still be an speculation until it will be proven otherwise. Well, if it will progress as per the article's theme then I will not be surprised if it will be the richest country. Moreover, I don't think the likes of either China or USA will collapse that soon as the powerhouses, I think the article was more like of a overrated.

Eight years is a big time frame and no one can guarantee if El Salvador will be the richest country or not b that time. It depends upon how many bitcoin El Salvador have and what will be the bitcoin prices after eight years.

Also, i am sure by that time that many more countries will also make bitcoin a legal tender and hence will join this race of becoming the richest country.

Viscore

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Quote from: yhiaali3 on May 20, 2022, 12:05:09 AM

The article is written in Portuguese so I used Google for translation, however it can be said that this is a little exaggerated, it is not likely that the adoption of Bitcoin will make El Salvador one of the richest or most prosperous countries in the world in 8 years!!! This is a great exaggeration. Bitcoin cannot solve all the problems of this country and make it compete with rich countries that have great resources. The country suffers from great economic problems there, and Bitcoin can be a solution to these problems, but it will not make this country rich.

Bitcoin could be an answer for those struggling economies but it could not make a single country rich. But i have also high hopes that El Salvador will grow and become a developed country, but being rich i think it will take a lot of years before it becomes possible. However, for those already big and developed countries who plan to adopt bitcoin as a legal tender, then its highly possible that their economic status will grow higher and becomes more progressive.

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Quote from: thaylonramonn on May 19, 2022, 05:25:14 PM

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

Possible to be rich but wont really be sustainable and just been like said by most people here that in terms of resources then nothing beats out to those countries which are sitting on the top of the chain.
If they do really consider out on making Bitcoin putting El Salvador on such condition then they are really on having that very wrong idea.Yes, they could resolved economic problems but once they had make
use of those funding then where they would really be getting another? If ever they could able to sustain then its good but if they are fully dependent with bitcoin they
they would really be fucking out their-selves.

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Quote from: rhomelmabini on May 20, 2022, 04:41:50 PM

Quote from: thaylonramonn on May 19, 2022, 05:25:14 PM

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

That will still be an speculation until it will be proven otherwise. Well, if it will progress as per the article's theme then I will not be surprised if it will be the richest country. Moreover, I don't think the likes of either China or USA will collapse that soon as the powerhouses, I think the article was more like of a overrated.

Not only overrated but exaggerated in my opinion. I don't think they can surpass China or US in the next 8 years to come. They may improve their economy, that's one possibility, but attaining to be on the top, I don't think so. Just be glad if their economy will improve owed to crypto market. But what is the chance that the next El Salvador's President will not be very pro-bitcoin or pro-crypto?

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Quote from: thaylonramonn on May 19, 2022, 05:25:14 PM

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

You did not voice your opinion regarding this to understand your logic regarding this as you will posted the question. It is not a secret that El Salvador is struggling financially and being a poor country they made BTCitcoin a official currency despite all the opposition and how do you think they will survive till they dream about getting rich.

I am personally curious to see how they will handle the market correction and how they are going to handle the situation and convince the people.

teosanru

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Quote from: thaylonramonn on May 19, 2022, 05:25:14 PM

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

Not at all, it is really fascinating to think about it but this thing is almost impossible is to be true. So far if you see you won't see a very big boom in the economy of El Salvador too i mean it has grown a bit but It hasn't really boomed like some Dubai or Hong Kong so yes it's pretty difficult to say that it'll become the richest country one day and that also just in next 8 years rest let's see how much attraction it gets when the bull market starts.

rhomelmabini

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Quote from: thaylonramonn on May 19, 2022, 05:25:14 PM

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

That will still be an speculation until it will be proven otherwise. Well, if it will progress as per the article's theme then I will not be surprised if it will be the richest country. Moreover, I don't think the likes of either China or USA will collapse that soon as the powerhouses, I think the article was more like of a overrated.

Fortify

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Quote from: thaylonramonn on May 19, 2022, 05:25:14 PM

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

It's wishful thinking. People have seen the meteoric rise of Bitcoin in the last 13 years and are always hoping that they can make the same amount. However these sort of "investors" are way too late to the party and the same with El Salvador. It was a convenient and catchy tool that the young new president used as a way of offering hope to his people. Grand illusions can go on for a long time before crashing down, Bitcoin has many purposes but becoming a national currency is not necessarily one of them. As we see now, it's sinking back down and nobody can predict the future, but right now they've paid a lot more for their original buys than it is currently worth - if every citizen had held on to the currency their national bank purchased for distribution.

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From the article:

Quote from: bakasabo on May 20, 2022, 07:01:42 AM

Everything in the article looks like another bla-bla-bla and a vision of the world through pink glasses. El Salvador will be rich if they hold and Bitcoin price goes up.

The funny thing is that the price won't grow unless more people are buying, so Salvador in order to become rich needs the wealthier countries and their population to provide the cash inflow, otherwise, they will end with the same value even after 20 years. And if others do purchase, we're back to square one where they will be just as wealthy if not more. It's a game where you can't be rich alone and not without some serious help.

Quote from: Ale88 on May 20, 2022, 12:06:16 PM

It doesn't make a lot of sense that article, there are single people who own more bitcoins than ES, does anyone think that there will be individuals worth more than the US or China? And what about Saylor and Microstrategy? Don't they have more than 100k BTC? Way way more than ES.

Yeah, some individuals will have more wealth than the entire world, and now imagine they will sell! Oh wait! Grin

Leviathan.007

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I don't have much information about different languages but as I can see the article is in Spanish or maybe Portuguese and I used Google Translate to read it. We cannot be sure about the future and it's hard to predict even next year so talking about the next 8 years when another halving cycle passed is completely impossible, fro,m what we can see in the history of bitcoin price if they really can hold bitcoins for this long time they will get a huge amount of profits for it, so they have much more progress economically and can solve many problems in their country.

Ale88

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Quote from: thaylonramonn on May 19, 2022, 05:25:14 PM

I saw this post and what do you think? Is it possible for him to become that rich in such a short time?

look at the post here https://boletimbitcoin.com/2022/05/19/com-o-bitcoin-el-salvador-sera-o-pais-mais-rico-do-mundo-em-8-anos/

It doesn't make a lot of sense that article, there are single people who own more bitcoins than ES, does anyone think that there will be individuals worth more than the US or China? And what about Saylor and Microstrategy? Don't they have more than 100k BTC? Way way more than ES.

GiftedMAN

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Quote from: yhiaali3 on May 20, 2022, 12:05:09 AM

The article is written in Portuguese so I used Google for translation, however it can be said that this is a little exaggerated, it is not likely that the adoption of Bitcoin will make El Salvador one of the richest or most prosperous countries in the world in 8 years!!! This is a great exaggeration. Bitcoin cannot solve all the problems of this country and make it compete with rich countries that have great resources. The country suffers from great economic problems there, and Bitcoin can be a solution to these problems, but it will not make this country rich.

I support your statement regarding what Op stated here and I agree that anyone thinking that El Salvador is likely to be one of the richest countries in the world in 8 years because they adopt Bitcoin has exaggerated. El Salvador is the fifth poorest country in North America, the country needs to expand its coffee and sugar production which is their most source of income and they also have to improve their educational system which will help them to do away with violence that is when the adoption of Bitcoin will be fully effective there In regards to them becoming richer than some countries.

bakasabo

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Everything in the article looks like another bla-bla-bla and a vision of the world through pink glasses. El Salvador will be rich if they hold and Bitcoin price goes up. Even newbies on this forum are more realistic. Article does not give any reasons why would Bitcoin price grow. Similar, prices on everything can grow also. The fact that "once Bitcoin cost 1 dollar, but not it cost 30 thousand" is silly. I can say same about gold for example. Anyone can buy or create of pickaxe, go mine gold and become rich. However people dont do that.

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El Salvador will in any case have the same problem as anyone else here: When do you sell your bitcoin? If the price doubles maybe the next president sells it. Maybe they sell it when it is 200k, maybe they sell it at a loss.... Nobody knows what will happen, since it depends a lot how they handle the coins later.

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If someone assumes this only because their president buys a few hundred BTC from time to time, then that country will not get very rich even if the price of BTC by the end of the decade is ten times higher than today. And everyone seems to be forgetting that politics can change if some new politicians are brought to power in the next presidential/parliamentary elections.

I would put the assumption that the ES could become the richest country in 8 years in the same category as if someone were saying that Switzerland would become the poorest country in the world in the same period - and that doesn't make any sense.

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