The IMF and World Bank can be a real pain in the a** for small countries. Bukele and his administration have made a bold move in legalizing Bitcoin and it's had positive effects on the country's development. As for the next leader, who knows what will happen. But, at least the foundation has been laid and it's up to the next guy to build on it or not. And you're right, let's call it what it is - Bitcoin. No need for all this "cryptocurrency" nonsense.
Some countries adopted with rule models of democratic system have each five years with presidential election, I don't familiar with El Savador election method. I think have another rule changed and Bitcoin viewed later if next years on 2024 if Nayib Bukele loss his position as president, I don't Bitcoin keep exist there as legal currency transaction due with democratic countries system the power or rule change at President hands.
I hope Nayib Bukele can exist as El Savador president for one period later due he has bigger contribution make Bitcoin as legal currency payment transaction there. Have little opinion about survey claiming is not accurate information and not become indicate about how potential become the winning in presidential election.
The president in El Salvador is elected for 5 years, and since Bukele was elected in 2019, more than half of his term as president of the country has already passed. It is difficult to say what will happen when another person becomes the head of state, but it will not be so easy to make changes, and why do it now, when it has a positive effect on the development of tourism in the country?
It was difficult at first, but now, in any case, the population has already adapted and it would be stupid to prohibit payments in bitcoin, this would mean a loss for El Salvador, no one will do this, no one president, because he will go down in history as a man who failed, so like Bukele, in turn, when he went down in history, only on the positive side.
Presidents of poor nations sell their people down the river thousands of times over the past 50 years or even longer that the IMF and the world bank systems have been increasingly incentivizing them to do so.
When a president does not want to sell his people down the river (which seems to be the case with Bukele) then he is attacked by the IMF and world bank because there are preferences that he falls in line so that other countries do not follow his lead. It's a kind of fucked up system that has oppressed countries and their people, so there are not really goals to empower people in small countries.. and the same dynamics happens within western countries too.. that's part of the explanation why the whole monetary system is so fucked up in terms of the way that incentives are fucked up by the money in such a way to control the people and create chaos and too many issues to discuss... but it is not correct to suggest that a new leader would just follow the great things that Bukele and his administration have worked to build (in connection with bitcoin as one of the money options) so far in the past year and a half or so.
good news. all governments need to learn how to do business with the cryptocurrency market. i mean, sooner or later they will learn, but i can't understand why they see it as a problem now and don't understand the requirements of the changing world and make it part of their business... of course every government has its own plans and interests, but this seems to me to be nothing more than postponing the inevitable. congratulations to the el salvador administration for this brave decision
The question is which government still sees cryptocurrency as a problem? Just because the government hasn't legalized cryptocurrencies as payment in their country like El Salvador has done doesn't mean that the government sees cryptocurrencies as a problem, maybe they are studying it and waiting for a decision from several parties before legalizing it. Because every country has different rules and different perspectives on cryptocurrencies, this is not an issue that all governments are looking at right now.
Yeah.. fuck shitcoins... and fuck the vague use of that term "cryptocurrency" Are you talking about bitcoin or what? If so, use the proper word. Bitcoin not vagueass references to "cryptocurrencies" whatever that is?
El Salvador seems to understand that bitcoin is the deal.. and they don't give any shits about crypto.. and I believe in the latest legislation they defined all crypto.. shitcoins as securities.. .. so yeah, if countries do not know the difference between bitcoin and shitcoins and they are talking about crypto, then they seem to not know what the fuck is bitcoin.
One of the important aspects of Bukele and his administrations's approach, so far, is that they have not gotten drug down the shitcoin track and they seem to understand to differentiate shitcoins.. and even to label them as different things (securities).
So yeah.. cryptocurrencies are a problem.. if you don't know what the fuck is bitcoin and you are not able to describe El Salvador's efforts in terms of bitcoin... or at least try in order that we might attempt to know what you are talking about.. because there are other countries that are distracted and dabbling in shitcoins and it does not help for anyone to be suggesting that El Salvador, Bukele or his administration is "crypto" friendly, because he is not crypto friendly. He is bitcoin friendly.. and bitcoin as an option... yeah there are other things going on in El Salvador too... that work on various financialization projects.. so sometimes there might be various ways that the dollar or some stable coins or some various shitcoins might come into the picture in regards to how projects might be structured or financed or to figure out how there might be balancing in terms of who is funding/supporting what and perhaps how funds are held, too.... and if there might be some ambiguity that El Salvador might be deviating from their bitcoin-focus in some kinds of ways, then we likely need to figure out how to talk about them in terms of bitcoin, rather than just throwing out vague terms and vaguely trying to imply the El Salvador is crypto friendly.. when it is not... at least not so far, as far as I can tell.. and if you believe that they are crypto friendly or there is some reason to talk about "crypto" as if it had any meaning, then let me know. Fuck that stupid vague term, when the use of it fails to have a context to describe what you are talking about.