El Salvador will be the richest country in the world in 8 years? - page 4.

Zanab247

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I also won't agree with you. Yes El Salvador made a good investment, but with current market conditions, I belive it will take some time for those investments to mature. One thing I am sure the crypto friendly environment will going to greatly boost the economy.

Since the green light is preparing to remain stable in the crypto market, I guess El Salvador will surely achieve a huge amount of money that will attract other countries to follow their step because in next 8 years El Salvador country will nearly become the richest country in the world. They have created good environment for their citizens to learn more about Bitcoin and how to use it wisely to improve living and other things in the community. No doubt, in next 4 or 5 years many countries will wish to be like El Salvador because they are the first country that made Bitcoin legal in their country.

lionheart78

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Buying Bitcoin alone cannot make a country to be the richest. A reserve currency sure gives a country an advantage but to be the richest, lots of criteria should be fulfilled, that includes the government system, infrastructure, technology, and development, aside from that there are a lot more. Aside from that, Bitcoin is highly volatile, and for sure if El Salvador becomes the richest country during the peak of the bull market, then what do you think El Salvador would be at the bottom of the bear market? Unless El Salvador strengthens its economy to top-notch, El Salvador will never be the richest country in the world, even if they hold Bitcoin in its reservoir.

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Quote from: Aanuoluwatofunmi on October 18, 2022, 07:25:15 AM

El-Savador is bitcoin friendly and its economy is already yielding a positive return through that, they are the first bitcoin tourist country and bitcoin legal adoption.

It is indeed very appropriate to say and In addition, the government of El-Salvador at this time has also set a budget to develop various actions in the fields of education and health. This is focused by the government of El Salvador in order to prioritize the rights of early childhood children so that children there can get a proper education and maximum health. Source: https://diarioelsalvador.com/gobierno-destina-millonaria-inversion-en-pro-de-la-primera-infancia-del-pais/286524/

And one more thing that is being worked on by the government of El Salvador (especially the Minister of Economy, María Luisa Hayem) is the strategy of setting the maximum fuel price. This was done in order to face the problem of inflation and also to be able to benefit in conditions like now, because it is also one of the 11 economic measures implemented by the Government of El Salvador. Source: https://diarioelsalvador.com/la-fijacion-de-precios-de-combustibles-ayuda-a-mas-de-1-5-millones-de-salvadorenos-maria-luisa-hayem-ministra-de-economia/286604/

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Yes El Salvador made a good investment, but with current market conditions, I belive it will take some time for those investments to mature.

That's why El-Savador continue with it holdings and yet keep buying, if you could recall the few buy it make some months back yet on this dip, the thing is that all investment need maturation time, but the people won't just allow the appropriate right time to fall in because if eagerness to make profits, El-Savador is already paying some part of its debt through many opportunities it has realized through bitcoin adoption, so aside thier investment, there are also other incentives that serves as benefit that El-Savador enjoys through the adoption.

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One thing I am sure the crypto friendly environment will going to greatly boost the economy.

El-Savador is bitcoin friendly and its economy is already yielding a positive return through that, they are the first bitcoin tourist country and bitcoin legal adoption.

Quote from: Abiky on October 17, 2022, 09:19:07 PM

if Nayib Bukele stays in power and the government spends its money wisely. If things go wrong, then don't expect to see any improvement in the Latin American country anytime soon

I want to believe bitcoin adoption in El-Savador isn't a child's play as many could have thought, this is an implementation and should any government comes in after Bukele they will also respect the endorsement for bitcoin serving as legal tender, it does not take an inch away from the economy of El-Savador, rather contributed in diverse ways and make history for a lifetime legacy on bitcoin adoption.

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Quote from: Hispo on October 17, 2022, 11:18:27 PM

I doubt it.
Bitcoin is a good investment in the long term but for a country to become rich takes more than speculation in those quantities of Bitcoin El Salvador holds.

I don't think El Salvador can ever be the richest country in the world with mere accepting Bitcoin as a legal tender, as Bitcoin is a worldwide general digital currency, because irrespective it was the first country to accept it as a legal tender, i still strongly believe there are some individual who owns bitcoin more than the total amount El Salvador claims to own. A country can only be said to be the richest when it has both natural and humam resources in abundance that other nations don't have and can't do without it, such as gold, petroleum, and fertile land for agriculture to cultuvate economic crops for exportation. Then such nation can be said to be the richest.

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I also won't agree with you. Yes El Salvador made a good investment, but with current market conditions, I belive it will take some time for those investments to mature. One thing I am sure the crypto friendly environment will going to greatly boost the economy.

I don't know it is a good investment or bad one for El Salvador. Good or bad, it is decided by entry and exit. Now we only knew about entry of El Salvador but don't know about their exit, when and what price.

With financial recession, lot of risk for El Salvador in next few years and if their President is not careful, their nation can fall into a debt crisis so that their investment in Bitcoin will be liquidated. If it happens, it will become a bad one.

Quote from: inthelongrun on October 18, 2022, 05:54:56 AM

Exactly. El Salvador's venture into Bitcoin is already branded as a failure by many financial institutions because of the ongoing market situation. But we are optimistic that in 8 years, El Salvador's investments will be worth a lot. Its capital will grow to more or less 50 folds by then. And considering El Salvador is a crypto-friendly nation, there will be huge investments and opportunities coming for them. If their government can offer a high level of security, crypto investors will flock. I am seeing a bright future for El Salvador and its citizens. But pretty sure 8 years is not enough for a poor country like El Salvador to become the richest.

8 years are not too long but not too short. With financial crisis, 8 years will be longer than usual. Of course, in the meantime, in the middle of crisis, more challenge than usual for El Salvador.

If they will still have their Bitcoin investment 8 years later and if Bitcoin won't break its history with new all time high for each 4-year halving cycle, El Salvador should win big 8 years later. Lot of if conditions so I don't know how El Salvador will be and will have their investment position next 8 years.

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I also won't agree with you. Yes El Salvador made a good investment, but with current market conditions, I belive it will take some time for those investments to mature. One thing I am sure the crypto friendly environment will going to greatly boost the economy.

Exactly. El Salvador's venture into Bitcoin is already branded as a failure by many financial institutions because of the ongoing market situation. But we are optimistic that in 8 years, El Salvador's investments will be worth a lot. Its capital will grow to more or less 50 folds by then. And considering El Salvador is a crypto-friendly nation, there will be huge investments and opportunities coming for them. If their government can offer a high level of security, crypto investors will flock. I am seeing a bright future for El Salvador and its citizens. But pretty sure 8 years is not enough for a poor country like El Salvador to become the richest.

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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/

If everything that has been speculated will come true then surely we will all be rich by now but the problem is now, nope we are not tend to earn that easily most specially in crypto world.
I may say that it can be? or may not? who really know?

Quote from: Hispo on October 17, 2022, 11:18:27 PM

I doubt it.
Bitcoin is a good investment in the long term but for a country to become rich takes more than speculation in those quantities of Bitcoin El Salvador holds.
El Salvador, would need employ creator, education, destroy corruption and the criminal associations, in short being efficient.

Still have the faith that the future earnings for this Bitcoin holdings will be used to fund the processes necessary to reach a state of well being for people in El Salvador.

and besides up to now? still EL Salvador is suffering from their economic issues and wont gather any good returns from their Bitcoin adoption .

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I doubt it.
Bitcoin is a good investment in the long term but for a country to become rich takes more than speculation in those quantities of Bitcoin El Salvador holds.
El Salvador, would need employ creator, education, destroy corruption and the criminal associations, in short being efficient.

Still have the faith that the future earnings for this Bitcoin holdings will be used to fund the processes necessary to reach a state of well being for people in El Salvador.

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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/

If El Salvador keeps investing in Bitcoin without selling, then I don't see why it can't become a rich country within the next 8 years. I wouldn't say "richest" because other countries have invested into Bitcoin as well (even though they haven't accepted it as legal tender yet). While it's possible El Salvador will turn from a developing country to a developed country, everything will depend if Nayib Bukele stays in power and the government spends its money wisely. If things go wrong, then don't expect to see any improvement in the Latin American country anytime soon. Let's see what will happen within the next bull market run. Just my opinion

Jatiluhung

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If up to 8 years later El Salvador is still accumulating bitcoin and at that time Bitcoin could have been at a very high price. So even though now it's still like a dream to say that El Salvador will become a rich country 8 years later. But we don't know 8 years later. It could be a dream come true. I see countries that will follow El Salvador's steps in adopting bitcoin someday will come from Africa and Middle Eastern countries. because it is countries from there that currently continue to aggressively support their citizens in using crypto. even CZ from Binance seems to see the potential of those countries. And it's not just El Salvador that will turn into a rich country. but every country that follows it also means that it will experience the same thing. no one knows the future. and there is nothing wrong with us having high hopes to serve as motivation.

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Quote from: Daltonik on October 08, 2022, 07:58:09 AM

Just think about it, the small country of El Salvador annually loses up to 30% of its GDP just to pay various third-party agencies commission interest for the transfer of funds.
And even though the adoption of bitcoin by El Salvador has not yet made the country much richer than it was, it still has a positive impact on the country's economy, as bitcoin and subsequent digitalization have attracted foreign investment and tourism, as well as expanded financial access for the population, mostly without bank accounts.
Yes, so far Salvador has lost on the purchase of bitcoin, but in the long run he will surely win a multiple.

A country that have got less than 7million population spends 30% of its GDP to third parties as commission shows how the third party corporate networks profit out of the people's money. If the country is able to eliminate this, it can contribute big to its population. It can be on infrastructure development, education, elimination of poverty and through different other means.

Many termed the adoption of bitcoin by El Salvador as a gamble, but through this we can be sure that President Nayib have understood the real need and the core for which Satoshi innovated bitcoin.

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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/

the article is in portuguese so i need a translation, i think this is too much in responding to the situation, it's not that easy 8 years can make 1 country rich, but we can't intimidate this country with dream countries, all can hope with bitcoin

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Quote from: cheezcarls on October 08, 2022, 08:08:17 AM

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/

Pardon me for overthinking, but as this is the 1st post of the OP with the included link, I assume that this website was either owned by him or was hired to do link building on his behalf.

Regardless of the reason, predictions are predictions. Assumptions are assumptions.

We just simply do not know if it’s really going to happen or not. I could be right or wrong though. The real answer is to wait for 8 years and see if El Salvador will indeed going to be what the OP says.

But for me, I have a strong feeling that it is highly unlikely after 8 years.

8 years is a decent time in which progress should be measurable in an upward direction, and I doubt that it has to be an all or nothing thing in terms of having a variety of ways in which any country will have successes and failures within its decision-making and even resources that it has available and how it uses such resources. Even though bitcoin is one of those asset classes that is likely to continue to gravitate value into it, it could take 20, 50 or 100 years for the bitcoin to become the dominant money system. There seems to be a lot of crazy implodings that are going on in the various current fiat systems, and if they can be kept afloat or if the disasters become way too cascading can also affect various countries in the peripheries.. and maybe some of them are going to start investing in bitcoin too.. overtly or maybe even sometimes covertly.. even though governments are suppose to have some public disclosures in terms of what they are doing with public resources.

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Quote from: Daltonik on October 08, 2022, 07:58:09 AM

Just think about it, the small country of El Salvador annually loses up to 30% of its GDP just to pay various third-party agencies commission interest for the transfer of funds.

I don't need much to argue to you about the losses you talked about in regards to El-Savador bitcoin adoption and the tremendous progress but all i want is for you to take a look at this statistics first https://bitcointalksearch.org/topic/m.60612784 and should incase there's more need to clarify the upto date happenings in El-Savador then I will advise you also go through it main bitcoin adoption discussion threads where all other matters were being discussed and read further on this page https://bitcointalk.org/index.php?topic=5342087.900 and in conclusion El-Savador is fine and ok with it bitcoin adoption and i also agrees with you about the future it has in it adoption.

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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/

Pardon me for overthinking, but as this is the 1st post of the OP with the included link, I assume that this website was either owned by him or was hired to do link building on his behalf.

Regardless of the reason, predictions are predictions. Assumptions are assumptions.

We just simply do not know if it’s really going to happen or not. I could be right or wrong though. The real answer is to wait for 8 years and see if El Salvador will indeed going to be what the OP says.

But for me, I have a strong feeling that it is highly unlikely after 8 years.

Daltonik

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Just think about it, the small country of El Salvador annually loses up to 30% of its GDP just to pay various third-party agencies commission interest for the transfer of funds.
And even though the adoption of bitcoin by El Salvador has not yet made the country much richer than it was, it still has a positive impact on the country's economy, as bitcoin and subsequent digitalization have attracted foreign investment and tourism, as well as expanded financial access for the population, mostly without bank accounts.
Yes, so far Salvador has lost on the purchase of bitcoin, but in the long run he will surely win a multiple.

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Quote from: danadc on October 07, 2022, 06:21:57 PM

I don't know why I said that in 8 years, bitcoin has the ability to make rich not only a country but any person who has the ability to hodl their bitcoin, and I think they won't have to wait 8 years, the average for bbitcoin to grow is 4 years more or less, every 4 years I would bet that Bitcoin will rise in price and the best thing is that its ATH will be higher and higher if they propose it, so bitcoin is currently cheap compared to the price that many predict, I have seen the S2F model and many enthusiasts do not believe in that model, but I think I know that it is due to the action of the same people who do not believe in bitocin and make Fud.

There's no such thing about 4 years or 8 years yet there's no one could really able to point out on when bitcoins price would make out some significant movement which we can say that it could really bring out
huge profits into those people who had invested earlier.El Salvador might become that rich on that particular point but it would really be good on that one and this one wont really be sustainable.
Unlike into those countries who do have lots of resources and other income then sooner or later the ranking would really be just changed up.
You wont really be that able to ensure that things would really be on that way.

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I don't know why I said that in 8 years, bitcoin has the ability to make rich not only a country but any person who has the ability to hodl their bitcoin, and I think they won't have to wait 8 years, the average for bbitcoin to grow is 4 years more or less, every 4 years I would bet that Bitcoin will rise in price and the best thing is that its ATH will be higher and higher if they propose it, so bitcoin is currently cheap compared to the price that many predict, I have seen the S2F model and many enthusiasts do not believe in that model, but I think I know that it is due to the action of the same people who do not believe in bitocin and make Fud.

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Today El Salvador President Nayib Bukele have shared a video Comeback Country in his tweet. Going through the video it is possible to see the transition that have happened in El Salvador from the control in the hands of Gangs to the ongoing digital growth. Soon we can see a documentary how El Salvador have turned themselves rich through the adoption of bitcoin.

Link to the video Comeback Country

Topic: El Salvador will be the richest country in the world in 8 years? - page 4. (Read 2816 times)