Quote from: Huppercase on July 15, 2023, 05:09:53 PM

Quote from: Inwestour on July 15, 2023, 11:08:07 AM

El Salvador even has programs that will allow the best students to get jobs in prestigious companies after training, but what I like most about El Salvador is that the population has the opportunity to store their savings not in fiat but in bitcoin.

This is an advantage when you know that bitcoin is officially supported by the state, and the state contributes to the education of the population, those who wish it. So although Salvadorans can also keep their savings in the US dollar, which is also pretty good at dealing with inflation, but bitcoin can give something more, it can also be a great investment.

Many people may not see concern regarding El Salvador expansion of the country and the adoption of Bitcoin, I love the progress he is having with the people coperation and the adoption of Bitcoin but I have been thinking what will happen to his legacy when he no longer the acting President of El Salvador, election is fast approaching by next which will be by 2024 and some party that don't like him have become anti Bitcoin, using that strategy and games to manipulate people on how Bitcoin is been force as a legal tender instead of been voluntary; that been said.

For now, Elsavador can only contribute only little to their welfare, the investment has been a negative PNL since they resume buying in December, but they will be even when BTC return around $40k but they wouldn't have anything as profit until they wait for $50k and $60k and I don't think they have plan to sell at these minor prices. Before El Salvador will earn from their investment, it will take a lot of time.

El Salvador's Bitcoin acceptance is risky. Your concerns should worry others. Bitcoin's volatility makes it a dangerous national currency. If things go wrong, political damage might result. If a new administration dislikes Bitcoin, this might become political.

I hate that while a "Bitcoin nation" seems revolutionary, the common citizen will have to deal with the aftermath. Who would suffer if BTC fails to meet your high goals and the economy collapses? The people? It's a terrible shot. We hope El Salvadorans know what they're going into.