Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
by
Hispo
on 16/06/2022, 19:24:53 UTC
⭐ Merited by jokers10 (1)
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?
...

It is a question of enlightenment: if El Salvador's government wants to have high enough support despite low rates of bitcoin it should educate Salvadorians more and give them enough economical and crypto information. If Salvadorians will understand that it is not a problem that long term investments went down in short prospective they will still support their government despite low rates of bitcoin. If not... well, we all can guess what can be then.

As South American, my opinion is that the topic of education is a vicious circle when comes to countries with social problems. Education in general is an important weapon against poverty and manipulation, ignorance itself is something taken advantage of to manipulate the masses, we all know that.

One can call El Salvador a "poor" country and part of this problem is the lack of education and culture there are nations that have such a strong culture about work and education that allows its population to be reborn from the ashes, Japan is a good example.

The vicious circle starts when there is poverty that does not allow to get education and therefore there is a perpetuation of poverty. The president of Salvador (as any good president would) is trying to break this circle by attacking the poverty but he should also attack the ignorance at the same time, if possible, because we would encounter himself swimming against the stream otherwise. The vicious circles are quite hard to break at a personal level, ever harder at a nationwide level.