Quote from: adultcrypto on Today at 08:44:03 PM

The case of El Salvador is a good example of buying bitcoin with money you cannot afford to keep in Bitcoin. In other words, it is a case of someone who have not even met his basic needs yet use the little he has to invest in bitcoin, what do you think will happen to those bitcoin when reality sets in? @JayJuanGee did wonderful job at explaining this concept of funds for basic needs and even the concept of emergency funds in the thread Buy the dip and HODL. Following that thread, I learnt that to be able to invest in and hold bitcoin, you must buy with money you have and can leave in bitcoin for long. In addition, you also have to set aside emergency funds to cover for things not planned for. Borrowed funds such as loans does not qualify in this this case.

From my submission above, it is obvious that El Salvador made some mistakes in that they are poor and do not have enough money yet they put some in bitcoin which means basic needs have not been met. They did not have emergency funds in place which is a signal that their investment is not guaranteed to last.

You obviously don't understand what's going on.

They made a lot of money on that bitcoin investment. It was a ballsy move but they are up by more than they'd ever be investing in stocks or gold. If they took an IMF loan instead of buying bitcoin they'd be struggling.

Also, this blackmail by the IMF was sent to a number of countries, not only El Salvador. It's just that Bukele was the first to tell the IMF he won't bend.