Quote from: target on May 27, 2024, 03:14:15 PM

Quote from: Marvell1 on May 27, 2024, 07:26:22 AM

Quote from: South Park on May 26, 2024, 06:28:49 PM

Quote from: Marvell1 on May 26, 2024, 01:12:57 PM

Their economy has improved significantly, but that is because Nayib Bukele has found a way to improve social security and boost the economy in many different ways, they do not rely entirely on bitcoin investment to improve the national economy. I remember Nayib Bukele once said they only used a small part of the national budget to invest in bitcoin and if it failed, it wouldn't have a big impact on them.

Bitcoin is just a volatile asset, a financial market, it's funny that some people think that if they accept bitcoin then inflation will go away. Or even if bitcoin becomes a currency, how will inflation disappear if people do not work and do not increase their income?

People that say that probably do not have an idea about how the economy works or they are too optimistic about bitcoin and what it can do, adopting bitcoin could bring foreign investment to that country and as such improve its economic situation, but it is not going to be enough, even in a country that is relatively small like El Salvador, so a government looking to improve its economy cannot just focus on bitcoin, and instead it needs to try to focus on the entire economy and solve whatever issues it may be slowing it down.

A country with a developed economy needs to have good domestic and foreign policies, attract a lot of capital and create many jobs for people...Besides, national security also needs to be prioritized as in the case of El Salvador, the country with the highest crime rate in the world even though it is only a small country. Developing a country's economy has never been easy but people seem ignorant and naive to think that simply adopting bitcoin can improve a country's economy.

Let's also not forget that bitcoin is not the only anti-inflation asset in existence, gold is also a pretty good anti-inflation asset. If stopping inflation were just about using an asset with a limited supply, governments would have done it long ago without the help of bitcoin.

Why is it that all of a sudden replies are anti-Bitcoin? El Salvador already has paid its debts from IMF. Ony a few countries did that. I am not sure if it's because of BTC but Bukele definitely made the right choice after all, he lifted the country's economy by getting more investors in the country because of the Bitcoin bonds.

He made the country an easy place to go for Bitcoiners. Bitcoiners can even stay there and become a citizen with an easy to achieve conditions.

I'm not against El Salvador using bitcoin as legal tender, what I want is more evidence that bitcoin is a key factor in improving their economy. Because to my knowledge, I don't see bitcoin being created with a mission or being useful in helping a country's economy avoid hyperinflation whether it serves as a currency or an investment.
If you also don't have evidence that bitcoin has helped their country pay off its debt, or that it's because Bukele's policies have helped their economy revive, you can't say I'm against bitcoin. As I said, it is not simple for a country to have a developed economy, and I also do not believe that their national economy has improved solely because of the adoption of bitcoin. What I want to say is that we don't need to exaggerate about bitcoin, I don't see any benefit in us exaggerating about it.