IMF is jealous of El Salvador, LOL | Bitcointalksearch.org

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Quote from: Sanitough on October 06, 2024, 05:55:49 PM

What is this IMF are doing, are they blind of that information....?

Now that El Salvador is doing well with their country and they are trying to interfere?

There message is loud and clear, they want to set rules and regulations to improve minimize the risk, but those information are already enough to tell them shut up!

https://cryptonews.com/news/imf-urges-el-salvador-to-scale-back-bitcoin-law-in-ongoing-negotiations/

Murder rate down 95% because of their crackdown on drugs and insanely large gangs, not because of bitcoin. How would you even think those are related?

One would imagine tourism getting up with a lower change of getting killed for travelling there.

And using bitcoin was probably good idea because they don't have own fiat anyway, but giving bitcoin credit for their government's other political decisions is just weird.

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Quote from: davis196 on October 13, 2024, 01:04:32 AM

Is this guy suggesting that the adoption of Bitcoin as legal tender reduced the murder rates in El Salvador by 95%?
I don't see any correlation between the usage of Bitcoin and the murder rate. If someone sees such correlation, maybe he should explain this to us.
Is the GDP growth of El Salvador caused by the adoption of Bitcoin? I don't think so. Many people were complaining and showing data that mass BTC adoption in El Salvador failed. I don't know whom to trust.
El Salvador having 95% more tourists after adopting BTC also seems like a weird statement. More people from around the world visiting El Salvador simply because it has BTC as legal tender? I find it hard to believe.

I guess not actually by their adaption towards bitcoin but rather the law implemented by their President. So far he create good changes to their country since from murder capital of the world. He manage to change the impression of people on their country and now they are called as Bitcoin Paradise.

See this this is really interesting article https://www.linkedin.com/pulse/el-salvador-from-murder-capital-world-bitcoin-paradise-curtis-ingram

Their bitcoin adaption attract lots of tourist in their country and if they can create more jobs from that sector then provably the crime rate in their country would go lower especially if lots of people would able to get a job from tourism part.

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Is this guy suggesting that the adoption of Bitcoin as legal tender reduced the murder rates in El Salvador by 95%?
I don't see any correlation between the usage of Bitcoin and the murder rate. If someone sees such correlation, maybe he should explain this to us.
Is the GDP growth of El Salvador caused by the adoption of Bitcoin? I don't think so. Many people were complaining and showing data that mass BTC adoption in El Salvador failed. I don't know whom to trust.
El Salvador having 95% more tourists after adopting BTC also seems like a weird statement. More people from around the world visiting El Salvador simply because it has BTC as legal tender? I find it hard to believe.

adzino

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It could be a legit concern or its just some bullshit the IMF is trying to pull. If they are really concerned for El Salvador, what they would do is try to help them make better policy (if they don't have one) regarding bitcoin and other crypto currencies. But it looks like they just don't like the fact that El Salvador made bitcoin a legal tender which in turn is helping them grow better, develop faster and making them more stable economically. In other words, they cant believe that a country like El Salvador can do better without them. They wont let this happen and will not let other countries follow the same steps.

livingfree

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Quote from: YUriy1991 on October 08, 2024, 12:03:21 AM

Quote from: livingfree on October 07, 2024, 05:51:16 PM

They're still testing the waters and maybe count more 5 years to come and we'll see most of its people are already using it 100%. This is the utility that satoshi aimed why he made Bitcoin.

And AFAIK with IMF, aren't they supportive with Bitcoin years ago? why they're having this kind of drama against El Salvador? Sketchy.

Indeed, everything needs a process but I am still optimistic that this will be one of the real proofs later from El Salvador and if the progress is 90%

I am hoping so that this is one of the reasons of El Salvador's progress and IMF just don't like to see a country thrives through unconventional method that no one has ever applied to their regime.

Quote from: YUriy1991 on October 08, 2024, 12:03:21 AM

I think it is considered a success, especially since they managed to close their debt with the IMF using this instrument. It is certain that a massive reversal of the argument will occur as predicted by many parties that it is impossible to happen.

Maybe that's one of the reasons why IMF says such thing against them. They're able to clear some of their debts and they're seeing the positive progress from them.

I'm not sure but I don't want to go that far and thought of conspiracies but I am happy that we've seen this piece of history and El Salvador is the first one that made BTC as their legal tender.

Sanitough

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Quote from: shield132 on October 09, 2024, 09:04:46 AM

Quote from: Sanitough on October 06, 2024, 05:55:49 PM

Now that El Salvador is doing well with their country and they are trying to interfere?

There message is loud and clear, they want to set rules and regulations to improve minimize the risk, but those information are already enough to tell them shut up!

I read the article and don't understand why you tell them to shut up.
..............
I also see that there was some advice that suggested El Salvador to reduce the government's exposure to Bitcoin....

That’s exactly where they should keep quiet.. why would they give advice like that? Haven’t they seen what’s happening?

shield132

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Quote from: Sanitough on October 06, 2024, 05:55:49 PM

Now that El Salvador is doing well with their country and they are trying to interfere?

There message is loud and clear, they want to set rules and regulations to improve minimize the risk, but those information are already enough to tell them shut up!

I read the article and don't understand why you tell them to shut up. Advices that the IMF gave to El Salvador are good. They are suggesting El Salvador to strengthen the regulatory framework and oversight of the Bitcoin ecosystem. They suggest them to improve the transparency and risk management related to Bitcoin.
I also see that there was some advice that suggested El Salvador to reduce the government's exposure to Bitcoin, which caused dissatisfaction with people here these suggestions are correct for the government. The government and the economy inside the country has to be stable. You can't achieve stability with Bitcoin because it's very volatile. Yeah, the reward can be high but it's risky, that's why the IMF suggest them this, to reduce risks and create a more stable environment.

IMF wants El Salvador to create more secure economic framework and keep the sustainable approach to cryptocurrencies.

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Quote from: Sanitough on October 06, 2024, 05:55:49 PM

There message is loud and clear, they want to set rules and regulations to improve minimize the risk, but those information are already enough to tell them shut up!

This is just the behavior when someone expected you to fail in something like a business, for example, and then instead of failing, you end up performing very well more than expected, and then, to save their face, they decide to act like they want to help by giving some kind of advice when they see that you obviously don't need it.

Such shameful behavior. Shame on the IMF!

retreat

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The fact that El Salvador's economy is getting better with their Bitcoin policy, it proves how El Salvador can become a developing country with the adoption of Bitcoin that they do. But on the other hand, the IMF may see this as a threat to them, because with the increasing development of their economy, it means that their ability to pay their debts is also increasing, and the IMF is not happy with this progress, so they try as much as possible to control El Salvador with the financial recommendations that they have, and it could be that it will be tightened if El Salvador does not listen to their recommendations. The IMF is nothing more than a loan shark, and a loan shark will continue to want the borrower to remain in debt.

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Quote from: Lucius on October 08, 2024, 05:06:58 AM

If you think that security and democracy are achieved by total repression, which includes the imprisonment and torture of thousands of completely innocent people who ended up in prisons only because they had tattoos or someone reported them out of pure malice, then I guess the only thing that matters is the result.

Do you have any proof that they are innocent? Besides what do you mean that in US, EU, UK innocent people are not put in jail?

Quote from: Lucius on October 08, 2024, 05:06:58 AM

The stories about how El Salvador is one of the safest countries in the world are as credible as the stories that say that China belongs to that group of countries

https://data.worldbank.org/indicator/VC.IHR.PSRC.P5?locations=SV

https://www.macrotrends.net/global-metrics/countries/slv/el-salvador/crime-rate-statistics

https://www.statista.com/topics/12204/crime-in-el-salvador/#topicOverview

There is not a single source that questions that crimes have gone down, what is questioned is the method used by Bukele and in some source the figures to some extent but if even the World Bank puts a graph like that is because what you said is simply false.

Quote from: Lucius on October 08, 2024, 05:06:58 AM

- but countries where they put you in jail and keep you for months without any evidence cannot be considered safe, at least for me.

In Western democracy there is something called presumption of innocence and we are all protected that way - I wonder if anyone would approve of people being caught like animals on the streets and in their homes in the US, EU, UK or maybe Japan?

For your information the presumption of innocence exists in the law of El Salvador, but it is suspended by state of exception, something that is provided for in most constitutions and legal systems of democratic countries, the suspension of certain rights in states of exception of war or others.

So you mean to say that the US, which you use as an example, respected the presumption of innocence in Guantanamo or something?

Here the question is that the more the system is more protective of criminals, the more it screws honest people and if I have to choose between having my 12 year old daughter raped by gangs and prostituted, between being afraid to go out in the street because they might kill me, or that some of those in jail are innocent (which also happens in those countries you mention), I prefer the latter.

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Quote from: Poker Player on October 07, 2024, 12:18:52 PM

So you've bought into the idea of making the murder capital of the world:

One murder every hour: how El Salvador became the homicide capital of the world

Into one of the safest countries on Earth:

How El Salvador Became One of the Safest Nations in The West.

It is very bad because you have to worry more about the rights of the alleged criminals than the rights of the murdered people.

If you think that security and democracy are achieved by total repression, which includes the imprisonment and torture of thousands of completely innocent people who ended up in prisons only because they had tattoos or someone reported them out of pure malice, then I guess the only thing that matters is the result.

The stories about how El Salvador is one of the safest countries in the world are as credible as the stories that say that China belongs to that group of countries - but countries where they put you in jail and keep you for months without any evidence cannot be considered safe, at least for me.

In Western democracy there is something called presumption of innocence and we are all protected that way - I wonder if anyone would approve of people being caught like animals on the streets and in their homes in the US, EU, UK or maybe Japan?

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Quote from: YUriy1991 on October 08, 2024, 12:03:21 AM

Quote from: livingfree on October 07, 2024, 05:51:16 PM

They're still testing the waters and maybe count more 5 years to come and we'll see most of its people are already using it 100%. This is the utility that satoshi aimed why he made Bitcoin.

And AFAIK with IMF, aren't they supportive with Bitcoin years ago? why they're having this kind of drama against El Salvador? Sketchy.

Indeed, everything needs a process but I am still optimistic that this will be one of the real proofs later from El Salvador and if the progress is 90%, I think it is considered a success, especially since they managed to close their debt with the IMF using this instrument. It is certain that a massive reversal of the argument will occur as predicted by many parties that it is impossible to happen.

I hope that after Nayib Bukele is gone from the position that he already occupies, the progress won't stop, and everything will become even better with time.
IMF can send recommendations and say anything they want, but if the situation of El Salvador is resolved with BTC eventually, it will be a grand finale to that whole deal.

Wind_FURY

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Quote from: Sanitough on October 06, 2024, 05:55:49 PM

What is this IMF are doing, are they blind of that information....?

Now that El Salvador is doing well with their country and they are trying to interfere?

There message is loud and clear, they want to set rules and regulations to improve minimize the risk, but those information are already enough to tell them shut up!

https://cryptonews.com/news/imf-urges-el-salvador-to-scale-back-bitcoin-law-in-ongoing-negotiations/

The IMF actually wants your country to be in a crisis so that your country's government will NEED them. But the CHAD Nayib Bukele has learned to be too smart for that. Cool

Plus shower thought, WHY does the IMF want El Salvador to "scale back" from their Bitcoin push towards adoption? Does that have something in connection with Bitcoin as a breaker of political strongholds?

🤔

YUriy1991

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Quote from: livingfree on October 07, 2024, 05:51:16 PM

They're still testing the waters and maybe count more 5 years to come and we'll see most of its people are already using it 100%. This is the utility that satoshi aimed why he made Bitcoin.

And AFAIK with IMF, aren't they supportive with Bitcoin years ago? why they're having this kind of drama against El Salvador? Sketchy.

Indeed, everything needs a process but I am still optimistic that this will be one of the real proofs later from El Salvador and if the progress is 90%, I think it is considered a success, especially since they managed to close their debt with the IMF using this instrument. It is certain that a massive reversal of the argument will occur as predicted by many parties that it is impossible to happen.

livingfree

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The curiosity of people about how Bitcoin becoming a legal tender is doing in El Salvador and with that stats, it seems that Bukele did the right thing.

They're still testing the waters and maybe count more 5 years to come and we'll see most of its people are already using it 100%. This is the utility that satoshi aimed why he made Bitcoin.

And AFAIK with IMF, aren't they supportive with Bitcoin years ago? why they're having this kind of drama against El Salvador? Sketchy.

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Quote from: Sanitough on October 06, 2024, 05:55:49 PM

What is this IMF are doing, are they blind of that information....?

Now that El Salvador is doing well with their country and they are trying to interfere?

I read the attached link very well, don't say IMF is blind, if they are blind, why the negotiation? It means that El Salvador needs them which causes the interference, and mind you, this is an advice, no one is forcing El Salvador and they can go elsewhere for their request if they like. IMF is a socioeconomic organization that lends countries money, do you want them to keep quiet when their risk assessment to give the money shows some concern as economists? I don't blame them at all.

Again, El Salvador is not doing well as you said, stop relying on the random statistics on social media, you can verify them on many reliable news outlets.

Quote

There message is loud and clear, they want to set rules and regulations to improve minimize the risk, but those information are already enough to tell them shut up!

I don't know where this is coming from, El Salvador is a sovereign state, who can regulate such?

The only issue I have with IMF is that they do not view Bitcoin as a property owned, this is not cool. However, they might sense the risk of the inability to trace/access the true El Salvador economy due to Bitcoin's nature and not what the government owns (which is certainly accountable), but what about the citizens own or transact? This is equally genuine.

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Quote from: Lucius on October 07, 2024, 11:06:18 AM

For some people, ES is obviously some kind of promised land where you can pay for everything with BTC and honey and milk flow everywhere. Unfortunately, it is actually a big mirage that Bukele finances with taxpayers' money, and the reality is that BTC is used by less than 20% of the people in that country, that the main job of the state is to put people in prison, regardless of whether they are guilty or not - and that regardless of the economic situation, Bukele has to take out new loans to pay off the old ones.

The IMF has no reason to be jealous, they just need to be patient and their "services" will be in demand again - because Bitcoin does not exist to save economies that have been destroyed for decades.

For those who do not want to live in illusions -> El Salvador Events of 2023

So you've bought into the idea of making the murder capital of the world:

One murder every hour: how El Salvador became the homicide capital of the world

Into one of the safest countries on Earth:

How El Salvador Became One of the Safest Nations in The West.

It is very bad because you have to worry more about the rights of the alleged criminals than the rights of the murdered people.

348Judah

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Quote from: Sanitough on October 06, 2024, 05:55:49 PM

What is this IMF are doing, are they blind of that information....?

Now that El Salvador is doing well with their country and they are trying to interfere?

There message is loud and clear, they want to set rules and regulations to improve minimize the risk, but those information are already enough to tell them shut up!

https://cryptonews.com/news/imf-urges-el-salvador-to-scale-back-bitcoin-law-in-ongoing-negotiations/

There is no what IMF could ever say that will move Bukele or the entire El-Salvadorans because this is not their first attempt, but the interesting aspect of it all is that they have got to realized that IMF will always want to hypnotized people under them and make sure that they are in debt, in other for them to be able to control their affairs and regulate their economy as they want, while all these are nothing than a modern day slavery in which those that are not vigilant subscribe into, all what El-Salvador could do regarding this is to play a dumb hear.

Lucius

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For some people, ES is obviously some kind of promised land where you can pay for everything with BTC and honey and milk flow everywhere. Unfortunately, it is actually a big mirage that Bukele finances with taxpayers' money, and the reality is that BTC is used by less than 20% of the people in that country, that the main job of the state is to put people in prison, regardless of whether they are guilty or not - and that regardless of the economic situation, Bukele has to take out new loans to pay off the old ones.

The IMF has no reason to be jealous, they just need to be patient and their "services" will be in demand again - because Bitcoin does not exist to save economies that have been destroyed for decades.

For those who do not want to live in illusions -> El Salvador Events of 2023

Cryptomultiplier

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Quote from: Sanitough on October 06, 2024, 05:55:49 PM

What is this IMF are doing, are they blind of that information....?

Now that El Salvador is doing well with their country and they are trying to interfere?

There message is loud and clear, they want to set rules and regulations to improve minimize the risk, but those information are already enough to tell them shut up!

https://cryptonews.com/news/imf-urges-el-salvador-to-scale-back-bitcoin-law-in-ongoing-negotiations/

El Salvador stands as a beacon of hope for countries wanting to delve into cryptocurrency, mostly Bitcoin because it has long gotten used to it since it uses it as a national currency of exchange.
Such kind of a country inspires capitalist and investors alike in other parts of the world who want to make profit from cryptocurrency and that is why a country like UAE is having more crypto capitalist invest in mining farms because they believe that crypto is the next most valuable asset besides gold and it would thrive soonest.

Topic: IMF is jealous of El Salvador, LOL (Read 440 times)