Post
Topic
Board Bitcoin Discussion
Merits 29 from 4 users
Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
by
Wiwo
on 17/11/2022, 15:21:15 UTC
⭐ Merited by yahoo62278 (13) ,348Judah (6) ,CryptSafe (5) ,LogitechMouse (5)
I figure that he’s pretty convinced that either the prolonged downward trend will reverse soon, or that his past buying the dip type purchases were not close to the intended bottom, so perhaps he considers making daily purchases will have less of a risk.

I still believe that managing public funds as he is, the country’s citizens are entitled to some degree of transparency that is being constantly denied in terms of where the bitcoins are being stored, how, and exactly where every purchase is coming from in terms of budget (It can’t all be attributed to the initial Bitcoin Trust they created to give liquidity to the Chivo System).

You are right, the management of the funds and we're the money El Salvador president intends to use in purchasing the entire El Salvador Bitcoins holdings should be made public so that the citizens can hold them accountable when and if anything goes wrong, El Salvador is a country and not a personal business that there will not be data and current state of things as regards to the Bitcoin president have purchased since the adoption of Bitcoin as a legal tender over a year ago. The lack of public data and information as regards El Salvador Bitcoin adoption and holdings has limited a lot of research from other cryptocurrency communities who are constantly following the El Salvador Bitcoin adoption and development since over a year and that is why we have limited data and information at our disposal to analyze or established a good discussion on Bitcoin adoption and it impacts on the economic developments of countries around the world and all eyes are on El Salvador since El Salvador is the first country to adopt Bitcoin as a legal tender.
That being said the bad side of this is that we can't tell if the El Salvador Bitcoin holdings are held on a private wallet owned and controlled by an individual who could be the president or if there is an official wallet since El Salvador already a government-approved KYC Chivo wallets. The lack of transparency in all this due to lack of information and data for public consumption has led to speculations and attacks from the president political opponents who may champion a campaign against the decision of the president to adopt Bitcoin since the government purchase is at a loss ever since their first Bitcoin purchase and the economic implication of
Of this on the citizens.