Quote from: alani123 on March 04, 2025, 09:39:00 PM

El Salvador as a state economy tried to pivot to bitcoin.

They employed many tricks to attract investment, to start mining at a scale and bolstered BTC as an alternative currency to the country's population, even recognizing it as legal tender.

The tricks failed to materialize. Poverty remained rampant and El Salvador ended up being forced to suspend its Bitcoin program just to take a puny IMF loan. In the end, no crypto entity stepped in to help them when they needed 1.4 billion in USD. We know from Greece's example that IMF measures lead a state economy to disaster. But imagine how desperate a country had to be to accept an IMF intervention over a loan totalling only around 4% of its GDP.

Bitcoin didn't shield El Salvador from disruptions in the world economy, it didn't enrich its citizens, it didn't protect it from foreign corporations plundering its resources for cheap etc.

So what's the lesson here? Maybe Bitcoin doesn't work at the State level. Yet by Trump's sayings we're going to see the same in the US with a sovereign fund in crypto...

Do you even have some proofs to back all these you're saying, have you even taken your time in reading towards the El-Salvador Bitcoin adoption thread https://bitcointalk.org/index.php?topic=5342087.0 and then try to read from the last page down to how far you could and learn more about what is happening there before saying other things that have no proof on it, the bitcoin adoption is changing the state of the economy and making things better than it was before they started, it has been a profitable decision on them for choosing bitcoin, they are independent, the citizens are having enough reasons to embrace a continuous use of bitcoin in all their daily transactions, the poverty and crime rate level has dropped drastically and thing were getting better already, not to even talk on the income they have generated from every investment made on bitcoin, or the way they have turned a cyber hub for Bitcoin world attraction and many more, all you have said are just a direct opposite of the current conditions there in El-Salvador.