Quote from: _act_ on June 15, 2022, 07:28:37 AM

Quote from: Hispo on June 14, 2022, 10:41:02 PM

I would not feel suprised if the FMI and the World bank started to issue some official declarations against the "unwise" investment made by the Salvador in Bitcoin, I would not feel surprised either if some protests started there under the narrative that the president is gambling the money of the people away, etc.

We all know Bitcoin has powerful enemies and during this bear market they weill show up again, wielding as well the Terra-Luna and Celsius cases as extra ammo to seed the FUD around the community and the people of Salvador.

It would only be matter of time, what would be said as an unwise decision made by countries that legalize bitcoin as a legal tender would be later changed to a brave decision that later favoured. Bitcoin price decreases and unfavoured period like this present bear market has been in history, not only in 2022 but back then in 2014 and 2018. These should not be a surprise but a possible indication that next long period bull market is coming and should probably be in less than 2 or 3 years from now. It can be far, but the months of bulls that will lead to all-time-high will become tomorrow soon. You are saying the truth, the world has been full of lies since the beginning of human advancement.

Quote from: bbc.reporter on June 15, 2022, 01:21:35 AM

We should also not forget that El Salvador is a poor country, their president bought a risky investment near the all time high and he used taxpayers money to buy this risky investment. What would this make him appear in front of his constituents presently that bitcoin has dumped?

Can you see what I quote in bold now when I first brought the topic, you can read it below:

Quote from: _act_ on June 14, 2022, 04:46:04 PM

I think El Salvador government prepared before they accepted bitcoin as a legal tender, see what Alejandro Zelaya, the minister of finance of El Salvador said about buying bitcoin.

https://cointelegraph.com/news/el-salvador-has-not-had-any-losses-due-to-bitcoin-price-dive-finance-minister-says

Quote

“There is a clear criticism of Bitcoin as such, not of El Salvador's strategy. El Salvador is what interests them the least, they [the media outlet] are not interested in what happens to our economy, they are not interested in what happens with our people, what happens with inflation.”

Quote

“I have said it repeatedly: A supposed loss of 40 million dollars has not occurred because we have not sold the coins.”

I hope you can get the meaning of that bolded quote, that is just how the world is, there are bitcoin critics and people prefer to take up the unimportant part that is not having significant effect on economy compared to the main ones they should talk about. Bitcoin adoption is not the problem of El Salvador, even El Salvador is not as rich as many other countries when it comes to citizens holding and buying bitcoin. People just failed to understand that countries that do not make bitcoin a legal tender but their citizens buy are also having such effect just like El Salvador, but people are not talking about that but focus on what is not.

Quote from: bbc.reporter on June 15, 2022, 01:21:35 AM

I support the inspiration of uniting South America under bitcoin, however, it appears reality has come again to kill the dream. But what has just occured is they have become bagholders. If someone told you a country and a multibillion electric car company would become bagholders of bitcoin, no one would believe you hehehehe.

There is not dream that reality kill, bitcoin adoption continues as a result of what has happened in the past. I hope you are not the type that will change your mind during bull and again change your mind during bear and change your mind again during bull. Bitcoin is a safe haven but in long term, not short term.

I scratch my head when you question someone if their mind changes if it is a bull or bear market hehe. My argument is similar to yours. El Salvador's bitcoin investment and how it appears to world will be continued to be questioned, not only by the critics. It will be questioned by their own people because it is their money that is being used in what might appear to be a gamble made by Bukele.