Quote from: Yaunfitda on Today at 11:03:25 AM

Quote from: humanvelocity on Today at 09:58:03 AM

As many of us already know El Salvador sits on $84M dollar unrealised profit from holding since September 2021, A government that completely supports and encourages BTC got me thinking how it is going to work in Long-Term? Dropping the tax on Crpyto from 30% to 0% is just beyond me. Keep in mind that El Selvador is not a First world country, It is a Third World developing country. How are they going to develop infrastructure and invest lots of money into education and health sectors? Everyone now living there is going to choose crypto over their local currency which is gonna make the whole country decentralised.

I think we have the wrong mindset in the beginning here, I assumed that the OP is just thinking that El Salvador only rely on their Bitcoin investment. They have trade partners like US, and their Top 3 Exported Goods (2021): Apparel: Knit, Plastics, and Paper, and their top industries: Food Processing; Beverages; Petroleum; Chemicals

https://globaledge.msu.edu/countries/el-salvador/economy

So don't be mislead that Bukele is just going full blown 100% on Bitcoin as their main source. So even if it drops, their economy is going to continue and so they could have other sources to improved their infrastracture and health care. Removed their Bitcoin investment they will still going to survived. Their Bitcoin investment is just a plus for them.

Yeah sure good luck trying to run a country exporting plastic and paper. Any country that encourage Bitcoin as one of their primary currency they are doomed, Especially a third world country like EL Salvador. You are a fool if you think Bukele is smart, The day Bitcoins value drop rest of the world will be fine but El Salvador will be in Deep Sh*t. You can't just Gamble your chance with the whole country like that.