Quote from: lionheart78 on June 04, 2025, 09:02:49 AM

Quote from: Smack That Ace on June 04, 2025, 08:57:39 AM

If we dare to face reality and admit the truth, the use of bitcoin as a currency and its application in El Salvador have failed. BTC cannot help them improve their economy as expected, otherwise they would not need to borrow money from the IMF and have to comply with many harsh terms from the IMF.

Did El salvador sell already? If they do and still borrow money from IMF then what you are saying is true but I have not heard that El Salvador had liquidated their BTC yet, this means the country had yet profited from their Bitcoin investment. Let us wait and see if El Salvador is able to pay their debt once they decided to liquidate their Bitcoin holdings.

I am talking about adopting bitcoin as a currency in their country, I am not referring to their investment.

El Salvador's ambition in adopting bitcoin as a currency is to help reduce its dependence on the US dollar, attract investment to boost the economy, lower the cost of remittances, and promote financial inclusion. But so far, bitcoin adoption remains low, it has not attracted much foreign investment, the economy has not grown as expected, and they're still largely dependent on the US dollar.

Quote from: lionheart78 on June 04, 2025, 09:02:49 AM

Quote from: Smack That Ace on June 04, 2025, 08:57:39 AM

The only benefit they get is from their bitcoin investment. That shows that using bitcoin as a currency does not solve any problems and does not bring as many benefits as many people think. Obviously, bitcoin is more suitable when used as an investment, a store of value.

I think you missed the benefits if Bitcoin is used as currency, first, the company that want to take advantage of Bitcoin may invest in the country giving the county a boost both on taxes and job opportunities.

Do you have any evidence that bitcoin has helped El Salvador attract foreign investment and create jobs? I tried searching but couldn't find any news about it.