$Bitcoin (BTC.CC)$ Can’t fault the president for trying here...
$Bitcoin(BTC.CC$ Can’t fault the president for trying here. He’s thinking outside the box. Sounds like he’s taking a page out of Iceland’s playbook. Iceland capitalized on their own natural resources (also geothermal energy) to build aluminum production and farming. Yes, farming. Like massive greenhouses using geothermal energy. I’ve visited the,. Pretty impressive what they accomplished. Oh yeah, Iceland mines a lot of cryptocurrency too. You folks don’t laugh at Iceland, do you? They’re a pretty wealthy nation.
Meanwhile, our country increasingly prints cash and politicizes our monetary policy, playing games with what should be a more objective, partisan institution. This could also turn ugly. Maybe BTC could offer us all some schmuck insurance. Maybe in the comments section of the El Salvador version of SA, they are laughing at us.
Meanwhile, our country increasingly prints cash and politicizes our monetary policy, playing games with what should be a more objective, partisan institution. This could also turn ugly. Maybe BTC could offer us all some schmuck insurance. Maybe in the comments section of the El Salvador version of SA, they are laughing at us.
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Teddy Willson : Well said Kay. It's a bit disheartening to read the comments in here. Lots of ridicule and laughter for a nation trying to get out of poverty.
What El Salvador tries to achieve here is to bring back a qualified workforce and halt "brain drain" aka the exodus of intellectual capital.
We should encourage El Salvador instead of laughing at it.
James Browny Teddy Willson: Do you really think that ---even if this country is successful--- that success would flow to the folks?
Stitch-fu James Browny: Building schools isn’t good enough for you?
Z9Gwqc14JU James Browny: There method of trying to get out of poverty is exactly what. Buy Bitcoin and hope the price goes up? Adopting Bitcoin as a currency won't solve crime or poverty for that matter. As far as I see Bukele's twitter feed is 90% filled with Bitcoin and not even one tweet that talks about the real issues the country faces. I'm not sure what his game plan is here.
ouySFiuuNu Teddy Willson: Imagine El Salvador gets in on the wave. Imagine that the country makes 100B on crypto. Imagine they are they are successful beyond your wildest dreams.
IWsnAFZDHM : While this is true, the issue is crypto can cause instability in the system. Who is going to bail them out if they are taking risk in unregulated assets. It shows they won't be able to handle money and they will be war torn. I hope they succeed but damn this is such a bold move when your country is in rough shape already