Bitcoin Forum

I just saw it and I think there are some of us here who would like to join. Bitcoin is legal tender in El Salvador and every citizen of the country will be given $30 worth of Bitcoin. Now history is being made and out of solidarity with El Salvador a lot of people want to buy Bitcoin for 30$. I think it is an interesting idea.

Source: https://www.reddit.com/r/Bitcoin/comments/phgtq2/so_we_all_buying_30_worth_of_bitcoin_on_tuesday/


https://i.ibb.co/615rL4b/A2776854-5-B5-E-4-AAD-9-D6-C-D79-A50892-FE9.jpg (https://ibb.co/Tb5YdHR)
Source: https://twitter.com/michael_saylor/status/1434850362943438852

Happy to see bitcoin finally recognised by some big authorities (govs) .
I find it a nice initiative to support El Salvador. But i think it would be hard for a group of entouthiast redditors to cause a big spike, we need a large number of buyers to pump the price by only doing repetitive transactions in 30$. The idea is genuis imo, and i think about its impacts when applied with another cryptocurrency less bigger than bitcoin.

This is a very bad idea - the market is already bullish, so trying to pump Bitcoin even higher for a short term spike will only lead to more volatility, and earlier than expected to the next crash (which will scare away people in El Salvador and elsewhere, maybe even other governments!).

Much better would be: Buy Bitcoin for 30$ in the next dip for solidarity with El Salvador!

(Alternatively: Set a limit order for 30$ well below the current price, and don't touch it!)

This would perhaps have even more bullish consequences: As the next dip would not get as deep as expected, bears would be more wary, other governments which are observing Bitcoin (Tanzania, Cuba, Paraguay ...) would be less scared by the price swings, and more countries could adopt it :)

(by the way: is Saylor the 2021 edition of Fontas, now? Is he even allowed to do that, as a well-known Bitcoin whale?)

How nice a world we live in if everybody could think that those 3.3 million community members of reddit are all real, or that even they would buy any amount of Bitcoin. Reddit/Twitter are full of shillers and maybe only 10% real people.

Ok this forum also has a lot of fakes but I believe at least 30,000 (1%) of those reddit people are real people here using and buying Bitcoin every day.

If those 3M members are all active then why not. $30 is not that much though even it dumps below $52k as of the price todate it will not affect mich. But as of writing there are only +9k upvotes of the post which probably are the only ones who agreed and seen the post.

That's probably the most immature idea I've heard in a while. You may want to support the president of El Salvador, but you should let those affect the market and see curiously how it goes. Buying $30, specifically, is dumb the least. First off, you've spread it across the internet. I've even got a twitter notification from this known “Saylor Moon” that they'll pump the market.

Please stop seeing Bitcoin as a speculative asset as much as possible; it'd be nice to start having some sort of stabilization now that it starts being a legal tender.

wow , i remember recently only senior citizen was being announced to ha receiving Bitcoin for trials but now the whole El Salvadorian will be given as well?

there is a protest about retired people against bitcoin in that country right?

Hope this will generate climb in bitcoin price as i can't wait to see it going back to 60,000 .

This is always good in theory but in practice this can be terrible because market behavior is not being considered here. For example when price is rising, the "dip" itself will be at a higher price. Take the current trend, we may as well see the next dip at $55k meaning something like going from $52k to $57k then coming down to $55k. Consequently waiting for a "dip" means you've just lost $3k advantage.

I don't get the point of this idea.This is more like a silly BTC price pump attempt,rather than showing support.
Do you really think that buying 30USD worth of BTC for yourself is "showing support and solidarity to the people of El Salvador"?
This is more like buying yourself a hamburger for the whole purpose of showing support and solidarity to all the people around the world,who are starving. :(
A better idea would be sending 30USD worth of Bitcoins to person in El Salvador,who is actually using Bitcoin.
I know that this idea will turn into scam,because too many people will try to abuse it,but at least we will be helping some people.

is this the reason why the pump happened since yesterday ? this big event on El Salvador as this is almost 100 million dollars worth of bitcoin to be added in capitalization ?

Michael Saylor is a genius. $30 would pump bitcoin to the fucking moon. Now the hype is building even $100k looks like a modest guess. I'd say $1million is now in the realm of the possibilities. God bless Michael. He will lead us to victory.

Plans of Slavador government has been known for some time so i doubt that is the reason for price rise. I genuinely think those buys are influenced by recent FOMO. 
I hope El Salvador government will offer some blockchain education to their citizens, because right now crypto knowledge there is pretty poor.

El Salvador is already known because of accepting bitcoin as a legal tender, or should i say the only person who accept bitcoin on their country without any negative comments? Lol,  so this is not surprising that they will come up to these situation and probably just a beginning and there's more in the future in my personal opinion because indeed El Salvador is different, i mean he had a good view when it comes crypto currency so expect that there will be a lot of good news from their country, not just this one..

Well, the dip finally happened :) so now it's legit (from my point of view) to buy the 30$ - seriously, I think it's an excellent opportunity, above all for those who bought in the lower 40Ks ... It would also be a big plus for acceptance in El Salvador if the price stays, at least, in the 45K+ range.

The thing is that in FOMO phases like yesterday when the price seemed to only tend in one direction, it's always tempting to think that the price "won't fall lower for now" and even "we won't see this price again!", but in reality, most of the time, at least when the price is already high, a dip is very likely to eventually happen.

What a way to start the planned buying for $30 of bitcoin, there's a dip and there goes the happy buyers.

This is true and usually it's worrying when there's not that much movement anymore after hitting that high like it became stable there for a day or two.

Yeah, those stupid tweets turn everything into a pump and dump shitshow.
But not surprising from Saylor Moron  ;D , all his tweets are about others putting their money on the line to save their investments, easy to talk when all you do is play around with others people's money.
Unfortunately, Bukele is going the same way, he is the president of a nation, not some imbecile who needs to tweet every single hour at what price he has bought bitcoin, seriously this is turning into a clown show. At least Trump was a certified moron, he had an excuse for it.


Why do you say you don't get the point when you nailed it perfectly?

Michael Saylor just made a lot of people jump the bandwagon and artificially pump the prices. Remember that 30 dollars is a a lot of money if you were to combine all of those people who really did give in to what Saylor had tweeted.

Oh, it's happening again.
What happened seems like "Buy the rumor, sell the news".
A very huge reason for this dump is El Salvador for sure, a coincidence? Since a lot for sure expected that Bitcoin could pump too hard because one country started buying Bitcoins and starting to use Bitcoin as legal tender but the market dumped.

I understand the negative view about the drop, but hey don't forget where we stand. The first country in the world has approved a bitcoin as a payment. Every beginning is hard and there is always skepticism, that's okay. And a drop of 10% we have seen many times, from 30% it becomes hard. We should look at this positiv and tell many of this story. It is an important day and i hope more will follow, even with a 10% drop. In Bitcoin we Trust

---

Buying the dip 😉
150 new coins added.
#BitcoinDay #BTC
Source: https://twitter.com/nayibbukele/status/1435260422110732300

Absolutely.

I actually bought today, a limit order @ $44k. I was inevitable that dump was going
to happen given the pump we had for the last few days.

TBH its a bit low that somebody or group would start a dump today when Bitcoin is
being adopted in El Salvador as a way to help its citizens.

The skeptic in me thinks it was another government agency ......

Spoke too soon. The flash crash seems to have already occurred just over 2h ago. Could it be that the perpetrators did this on purpose to show the world that legal tender of BTC is a bad idea???

Who knows right, but the FUD seems to have happened, but of course, we still don't know if we're out of the red zone or not. All I know is that this was the fastest dump I have ever seen... and it is times like this that reminds all of us how brutal dumps can be.

What an excellent act of support of El Salvador Community members we saw today, when BTC decreased from 51 to lower than 45K today. Maybe a lot of traders missed this news yesterday and sale-orders worked when all this army of El Salvador community members started buying BTC and have bought all high orders and started to buy lower and lower orders..

Yes sir i also shocked after seeing todays dump. That means that line again work " buy the rumor, sell the news" you are right. Just think those person who also believed this news gives a hard pump in the market and go for long option in future trade option. They all becomes ruin if they didn't use stop lose. One if my friend called me and says he thought it is a pump time and he gose for long trade at $50k with his $2k. Now his all money becomes liquidate. He didn't use stop loss too. My friend literally crying on phone. But what can i do i just tell him learn from this mistake and start a new journey.

Actually, the incident where the Bitcoin pump was not long after that the dump occurred had often happened before. So we should already understand
the risks of investing in Bitcoin, it is very important to use stop-loss when deciding short-term trading in Bitcoin. But for people who are planning
a long term investment in Bitcoin, there is no need to panic about what is happening now, we just need to buy more Bitcoin now. Because I believe
the price of Bitcoin will recover soon. After all, as long as we don't sell the Bitcoin we have when the price drops, we haven't lost anything.
So just be patient with holding the Bitcoin we have, especially for people who buy Bitcoin above $50k.

Oh my god,,, Saylor Moon is the funniest thing I have heard all week. But anyway,,, in all reality, it will be impossible for us to stop people from seeing Bitcoin the way the majority of people do. And to be honest I have given up on this and made my acceptance of it.

In a small way, speculators do keep the volumes churning so they are good for the industry anyway. And when they dump and are gone for the next cycle, we can gather in quiet again :)

This is really nice. It’s nice to see the crypto community come together in support of El Salvador as the first country that has adopted Bitcoin as a legal tender. I wasn’t aware of this I wasn’t able to follow up with it, but I’m hoping that it really went well. If the cryptocurrency community continues to stand strong behind  El Salvador, then other contests would be moved to also adopt cryptocurrencies as legal tenders.

Although it’s not really a must that every country will adopt it as legal tenders, but it would be good for it to be legally approved for people to use it whenever and wherever they want it. I also hope to see countries that have banned Bitcoin lifted their bans.

strongly agree that many communities support what el savador is doing because it also needs recognition for them to be more confident that what they are doing is for the good of the country. because what el savador is doing is something that is quite brave and should be appreciated so that many also believe.

let the momentum carried out by el savador will attract many countries that have actually banned bitcoin to be able to make the country that prohibits it reflect that many benefits will be obtained from the recognition of bitcoin. although it is not easy to be able to make a country will be able to accept it, because many countries still have a fear that bitcoin will be used as a commodity for money laundering from prohibited acts. things like this are also still very influential because a clear legal umbrella must be provided so that there are no incidents of violation.

This is what make bitcoin a strong currency that has been only growing over the years and staying strong, its the community and the belief in its cause, and the news about a country accepting bitcoin as a legal tender is a big news for the community because we have been preaching and dreaming about it for years, and supporting this launch to make it successful to prove that it is a good thing, bitcoiners are helping even by a small amount.

I think so too. It creates a great opportunity for donations. As soon as someone from El Salvador sends a QR code, for example from McDonald's, to someone anywhere in the world, they can pay the bill. Worldwide without the problems of different currency, long waiting time to receive the money or very high fees. P2P donation, that is wonderful.

Yes, the main obstacle to buying bitcoin is where the price is very high, but if there is a contribution of any amount made by the community, it will certainly be different and it is certain that the value that will be collected is fantastic.
I don't know what the real reddit / twitter community is, but you are right that many fake and double accounts are done by someone. even if it is according to what you say, it is clear that quite a lot can be collected and of course there will be effects that will affect it.

Lol but this that day is the formality of acceptance and also the time where people will be getting 30$ worth of bitcoin each from the government.

so i guess that this is also at some point is the impact .