Quote from: Odusko on Today at 08:29:15 AM

Quote from: _act_ on July 04, 2022, 09:07:31 PM

Quote from: JayJuanGee on July 04, 2022, 03:41:55 PM

It seems that El Salvador is not fucking around with altcoins (aka shitcoins), and so yeah whether we are talking about a country level or we are talking about a personal level, we cannot be making assumptions that it is good to be holding shitcoins, DCAing into shitcoins, or buying more of them on the dip.

At least, two countries had made bitcoin a legal tender, viz: El Salvador and Central Africa Republic. Also an economic zone, Prospera in an island of Honduras, Roatán made bitcoin a legal tender. Bitcoin is decentralized unlike altcoins with centralized authority that make altcoins to be centralized. Altcoins do not worth to be a legal tender, only bitcoin does. Most of the altcoins have no utility than buy and hold and see if the price will increase, but they are extremely volatile. There are over 20000 altcoins that are existing and any may become like Terra Luna, altcoins are risky. It will not be a surprise if no country adopts any altcoin as a legal tender.

Cryptocurrency adoption is still a sketchy movement among countries presently El Salvador took the bull by the horn by making Bitcoin a legs tender in the country amidst global Bitcoin critics, and the central Africa republic also made similar Bitcoin adoption which has given room to other altcoins to want to compete with Bitcoin in terms of market penetration but even at that altcoins has no balance network to wits and the forces of the market making the garbage shit.

We.can see how El Salvador made more purchases of Bitcoin during the last week and that shows to a great extent how bullish the government is on Bitcoin.

There is always going to be some temptations to get tempted into shitcoins or to get confused about what the difference between bitcoins and shitcoins, and it seems that El Salvador has not yet deviated down that path.

We cannot presume that the Central Africa Republic (CAR) is going to be the same. So CAR is not even close to being equals to El Salvador (yet).. so we should not want to confuse the situation into some false equivalencies. .and even with any additional country that follows something similar to El Salvador, we are likely going to try to figure out if they are deviating into shitcoins or not.. and it that deviation into shitcoins might cause unnecessary risk to themselves or their citizens.. Here's a post that I wrote in fillippone's CAR thread responding to such monitoring of CAR's potential deviation into shitcoins... and/or getting advice/counsel from shitcoiners.

For sure, at this time, the El Salvador citizens have rights/freedom/abilities to get into shitcoins, and so it is good that El Salvador as a country is not so far getting lured into that nonsense which is of questionable integrity and some of the various scammy activities around such shitcoins may well be found to be illegal in some jurisdiction.