El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻

[wmaurik]

After Halving i am pretty sure BTC value will go back to  38-40K around or may be down.

If you look at what the El Salvador government and many Bitcoin investors are doing at the moment, I'm still not sure what you're saying, even though it's not impossible to happen. Because market trend conditions this year are very different from market trend conditions in previous years, it would be very normal if this year there were more surprises in terms of Bitcoin prices. Apart from that, other countries that are monitoring how El Salvador has done extraordinary things so far are also likely to follow suit and this could also be a foundation for the resilience of Bitcoin prices in the market because it has been influenced by greater purchasing power.

[Hameed93]

I'm surprised and shocked that a country that is under development will be the first to do this.. I was expecting the U.S.A, CANADA or other developed countries to start the trend.
It's Welcome development, probably maybe some percentage of the people who are yet to own a bank account will key into this new reform in the financial sector.. it will also boost trust between the people and the government..
It will encourage more international trade flow with El Salvador and if it is well utilized will make other developing countries key into it..

[JayJuanGee]

For me, the most potent policy of El Salvador was to reduce crime in the country. The current Haiti gang violence is a typical example of what was happening in El Salvador before the government of Nayid Bukele took over. Violent gangs were in control of the country before he took over.

Without peace, no investor will consider putting money in the country. Citizenship by investment policy would never be attractive if the country was not safe. The country has experienced an increase in the rate of foreign tourists thanks to the crackdown on violent gangs. We are hoping that Bitcoin will reach the $100k mark but it seems that El Salvador will not be selling its Bitcoin holding anytime soon. The country will seek other means of fulfilling its financial obligations to the IMF.

Bukele's position is very clear, after he made the Bitcoin wallet public, a few days later he announced that he would continue to buy one Bitcoin every day. In my opinion, this is the right direction, I mean the goal is to increase the number of bitcoins, but I may not agree that this should be done now, when bitcoin has increased so significantly in price.

Of course, if you consider that the price will reach 100k, and I’m almost sure of this, then buying now also makes sense. At one time, I stopped buying when the price reached 30k, now I think that perhaps I stopped early, but this was my strategy and I will stick to the original plan until the end of the bull run.

For Bukele, this is all perceived differently, because he buys bitcoins not with his own money, but with taxpayers’ money, which is much easier to do and, of course, it is very important that in the end he does not think that these are his bitcoins, but understands that they belong throughout the country, and to every citizen of El Salvador. In any case, Bukele is doing the right thing, he is accumulating bitcoins and one day this may help El Salvador gain higher status.

I am still bothered by the 1 bitcoin per day idea.. even though there is some symbolism to it, but it is not as practical as either measuring in terms of some dollar amount or maybe measuring within a percentage of the countries revenues.

Like I mentioned in an earlier post, El Salvador seems to have ONLY accumulated 5% of its annual revenues in bitcoin, and this has happened over around 2.5 years. and maybe they would be better off to have had accumulated a bit more aggressively.  So it seems to be accumulating just over 1% of its annual revenues into bitcoin, and the reason that it has 5% rather than 2.5% is due to bitcoin's price appreciation over that time... and probably a higher allocation of 5% would be good.. and maybe they can total up their annual revenues from the prior year.. - let's say $7 billion and then multiply that by  5%  (or whatever percentage that they choose).. in the case of 5%, that would be $350 million, and then if that is divided into 365, that would be $959k per day.. which is way the hell more than 1 bitcoin per day. .. right now that would be right around 14.75 BTC per day - and of course the quantity per day would vary depending on the BTC price, but under the formula that I propose, the dollar amount would still be $959k per day... I consider 5% to be a fairly modest (and perhaps even whimpy amount), yet of course, since tax payer money would be invested and diverted into bitcoin rather than being made available for current government spending, maybe he would need to go with even whimpier amounts of 1% rather than 5%, which would still result in closer to 3 BTC per day rather than 1 BTC per day ($959k/5 = $191k  = currently 2.95 BTC)..,. so right now, his 1 BTC per day is only spending around 0.33% of the government revenues.. and when BTC prices were in the $20ks, then his 1 BTC per day was ONLY spending in the ballpark of 0.11% of government daily revenues.

After Halving i am pretty sure BTC value will go back to  38-40K around or may be down.

How would you know that? 

You seem to be wishing and also ignoring what is happening in the bitcoin space.

Sure it is possible that there could be a BTC price correction that goes sub $40k - yet hopefully no one is either waiting to buy BTC because they are waiting for those kinds of prices or selling any BTC and waiting to buy back at those prices.

The fact of the matter is that anyone who might not have any BTC or enough BTC, would be better off to be buying right now than to be expecting lower prices.

Of course, anyone who already has BTC prepared for UP, but anyone who does not have BTC or has too few of BTC is not prepared for UP... so the person who is prepared for UP is in a better position to consider the possibility of down (and to prepare for that) than the person who is not sufficiently/adequately prepared for UP.

There likely were quite a few folks left behind in the BTC price run up from $25k/$27k up to our current price range (mid-$60ks), and sure many of those folks who failed/refused to buy enough BTC may have had been waiting for the BTC price to go down further and may even currently be waiting for the BTC price to drop so that they can get in, when they may well be better off to just suck it up and get into bitcoin now rather than living in a fantasy that may or may not end up happening.

I'm surprised and shocked that a country that is under development will be the first to do this.. I was expecting the U.S.A, CANADA or other developed countries to start the trend.
It's Welcome development, probably maybe some percentage of the people who are yet to own a bank account will key into this new reform in the financial sector.. it will also boost trust between the people and the government..
It will encourage more international trade flow with El Salvador and if it is well utilized will make other developing countries key into it..

Less developed countries are more motivated than developed countries to buck the current fiat debt-ladened system, and adopting (and promoting) bitcoin is a way of bucking such system.

[bitzizzix]

After Halving i am pretty sure BTC value will go back to  38-40K around or may be down.

It seems like you are too pessimistic or because this price is your hope so that you don't miss out on buying Bitcoin again when the Bitcoin price has exceeded that price. And currently the price of Bitcoin can be said to have doubled the price you mentioned.
And I don't think it's possible and to go back to $50K also I don't think it's possible, and the halving is near, I think $60K is the lowest price and after the halving Bitcoin price will rise to $100K - $135K or more towards new highs. And that will be a good thing for El Salvador and the new investors who are developing and will continue to grow so that it will increase the price of Bitcoin.

[2Pizza410000BTC]

After Halving i am pretty sure BTC value will go back to  38-40K around or may be down.

I can't go with the prediction you made. The candle that made Bitcoin rise is not the same as in previous years. However, the way Bitcoin has been growing this season, it seems that Bitcoin will not go below $50,000 before and after the halving. When Bitcoin dropped from $74k to below $60k I didn't feel upset because I thought Bitcoin would only go to $50k but the market bounced back to $68k. If the market goes up from here I think Bitcoin could go to $80k before the halving. But if you want to invest in bitcoins hoping for your predictions then I think you may not be successful in investing.

[Gallar]

For me, the most potent policy of El Salvador was to reduce crime in the country. The current Haiti gang violence is a typical example of what was happening in El Salvador before the government of Nayid Bukele took over. Violent gangs were in control of the country before he took over.

Without peace, no investor will consider putting money in the country. Citizenship by investment policy would never be attractive if the country was not safe. The country has experienced an increase in the rate of foreign tourists thanks to the crackdown on violent gangs. We are hoping that Bitcoin will reach the $100k mark but it seems that El Salvador will not be selling its Bitcoin holding anytime soon. The country will seek other means of fulfilling its financial obligations to the IMF.

Bukele's position is very clear, after he made the Bitcoin wallet public, a few days later he announced that he would continue to buy one Bitcoin every day. In my opinion, this is the right direction, I mean the goal is to increase the number of bitcoins, but I may not agree that this should be done now, when bitcoin has increased so significantly in price.

Of course, if you consider that the price will reach 100k, and I’m almost sure of this, then buying now also makes sense. At one time, I stopped buying when the price reached 30k, now I think that perhaps I stopped early, but this was my strategy and I will stick to the original plan until the end of the bull run.

For Bukele, this is all perceived differently, because he buys bitcoins not with his own money, but with taxpayers’ money, which is much easier to do and, of course, it is very important that in the end he does not think that these are his bitcoins, but understands that they belong throughout the country, and to every citizen of El Salvador. In any case, Bukele is doing the right thing, he is accumulating bitcoins and one day this may help El Salvador gain higher status.

I am still bothered by the 1 bitcoin per day idea.. even though there is some symbolism to it, but it is not as practical as either measuring in terms of some dollar amount or maybe measuring within a percentage of the countries revenues.

~Snip

It is true, until now Bukele has made major changes or rotations in El Salvador. Which started with the arrest of an entire armed gang in El Salvador.

More than 64,000 suspected criminal gang members have been arrested by El Salvador authorities in an effort to combat thuggery.

Source: https://www.bbc.com/indonesia/majalah-64781862

This is clearly an action that is very rarely carried out by a president or leader of a country anywhere. So you could say that the actions taken by Nayib Bukele against gangsters in El Salvador could be said to be quite extreme.
But despite this, El Salvador is now a safer country than before.

Apart from that, regarding Nayib Bukele's plan to buy 1 bitcoin per day, perhaps this statement cannot be fully justified. The reason is that this statement is still unstable considering that the price of bitcoin is currently experiencing an increase. Meanwhile, Bukele said he would buy 1 bitcoin per day when bitcoin was cheap.

The President of El Salvador, Nayib Bukele, announced on Twitter on Thursday, November 17, 2022 that his country will purchase one bitcoin every day.

Source: https://www.liputan6.com/amp/5128803/presiden-el-salvador-nayib-bukele-sebut-bakal-beli-1-bitcoin-setiap-hari

In that year the price of bitcoin was quite far from what it is now. So you could say that that year Bukele bought 1 bitcoin with tax money from the people of El Salvador.

However, if Nayib Bukele plans to buy 1 bitcoin per day with taxes coming from the people of El Salvador now. In my opinion, this action could be said to be too hasty. Because as JJG said, tax money is usually used for certain needs in that country (El Salvador). Such as to repair damaged roads, damaged schools, or for other costs in that country (El Salvador). And in my opinion, Nayib Bukele cannot completely avoid this (state development costs). Because of course in a country there will always be things that need to be addressed and improved. Therefore, tax money obtained from the people in El Salvador will definitely be used for needs in El Salvador. And the rest is then used to buy bitcoin. Maybe that's how I understand it from my perspective.

[ultrloa]

After Halving i am pretty sure BTC value will go back to  38-40K around or may be down.

I can't go with the prediction you made. The candle that made Bitcoin rise is not the same as in previous years. However, the way Bitcoin has been growing this season, it seems that Bitcoin will not go below $50,000 before and after the halving. When Bitcoin dropped from $74k to below $60k I didn't feel upset because I thought Bitcoin would only go to $50k but the market bounced back to $68k. If the market goes up from here I think Bitcoin could go to $80k before the halving. But if you want to invest in bitcoins hoping for your predictions then I think you may not be successful in investing.

Just try to open up for some possibilities since its not impossible to happen. We never though that we experience a huge dump before but it happen and what's more important there is we are prepared to accumulate since this is the best thing we could do at that time since for so many times it proven that those people which accumulate at lowest point of bitcoin will always get rewarded as long as they have long patience to wait for long term.

But if the price won't dump at that figure then its still fine as long as we are ready for any possibilities and we have money to spend for investment so for sure waiting game we are on is truly worth it after all.

[Synchronice]

El Salvador's President Naib Buquel has said his country will continue to buy 1 bitcoin a day until the price of bitcoin becomes 'unaffordable' with fiat currency.

That's a very good move. While it's true that such a low investment is nothing for a country with 6.5 million population, it's still a profitable and will help country to have stable, growing reserves of Bitcoin.

I'm surprised and shocked that a country that is under development will be the first to do this.. I was expecting the U.S.A, CANADA or other developed countries to start the trend.

The USA, Canada and most of other developed countries don't like Bitcoin and cryptocurrencies and it's a drop in the ocean for such a big countries to invest money in Bitcoin. It's also illogical to expect from them to start accepting Bitcoin payments and forcing their citizens to accept it. In this case, El Salvador might be a good test country to see how things go.

[JayJuanGee]

For me, the most potent policy of El Salvador was to reduce crime in the country. The current Haiti gang violence is a typical example of what was happening in El Salvador before the government of Nayid Bukele took over. Violent gangs were in control of the country before he took over.

Without peace, no investor will consider putting money in the country. Citizenship by investment policy would never be attractive if the country was not safe. The country has experienced an increase in the rate of foreign tourists thanks to the crackdown on violent gangs. We are hoping that Bitcoin will reach the $100k mark but it seems that El Salvador will not be selling its Bitcoin holding anytime soon. The country will seek other means of fulfilling its financial obligations to the IMF.

Bukele's position is very clear, after he made the Bitcoin wallet public, a few days later he announced that he would continue to buy one Bitcoin every day. In my opinion, this is the right direction, I mean the goal is to increase the number of bitcoins, but I may not agree that this should be done now, when bitcoin has increased so significantly in price.

Of course, if you consider that the price will reach 100k, and I’m almost sure of this, then buying now also makes sense. At one time, I stopped buying when the price reached 30k, now I think that perhaps I stopped early, but this was my strategy and I will stick to the original plan until the end of the bull run.

For Bukele, this is all perceived differently, because he buys bitcoins not with his own money, but with taxpayers’ money, which is much easier to do and, of course, it is very important that in the end he does not think that these are his bitcoins, but understands that they belong throughout the country, and to every citizen of El Salvador. In any case, Bukele is doing the right thing, he is accumulating bitcoins and one day this may help El Salvador gain higher status.

I am still bothered by the 1 bitcoin per day idea.. even though there is some symbolism to it, but it is not as practical as either measuring in terms of some dollar amount or maybe measuring within a percentage of the countries revenues. ~Snip

It is true, until now Bukele has made major changes or rotations in El Salvador. Which started with the arrest of an entire armed gang in El Salvador.

More than 64,000 suspected criminal gang members have been arrested by El Salvador authorities in an effort to combat thuggery.

Source: https://www.bbc.com/indonesia/majalah-64781862
This is clearly an action that is very rarely carried out by a president or leader of a country anywhere. So you could say that the actions taken by Nayib Bukele against gangsters in El Salvador could be said to be quite extreme.
But despite this, El Salvador is now a safer country than before.

Apart from that, regarding Nayib Bukele's plan to buy 1 bitcoin per day, perhaps this statement cannot be fully justified. The reason is that this statement is still unstable considering that the price of bitcoin is currently experiencing an increase. Meanwhile, Bukele said he would buy 1 bitcoin per day when bitcoin was cheap.

The President of El Salvador, Nayib Bukele, announced on Twitter on Thursday, November 17, 2022 that his country will purchase one bitcoin every day.

Source: https://www.liputan6.com/amp/5128803/presiden-el-salvador-nayib-bukele-sebut-bakal-beli-1-bitcoin-setiap-hari
In that year the price of bitcoin was quite far from what it is now. So you could say that that year Bukele bought 1 bitcoin with tax money from the people of El Salvador.

However, if Nayib Bukele plans to buy 1 bitcoin per day with taxes coming from the people of El Salvador now. In my opinion, this action could be said to be too hasty. Because as JJG said, tax money is usually used for certain needs in that country (El Salvador). Such as to repair damaged roads, damaged schools, or for other costs in that country (El Salvador). And in my opinion, Nayib Bukele cannot completely avoid this (state development costs). Because of course in a country there will always be things that need to be addressed and improved. Therefore, tax money obtained from the people in El Salvador will definitely be used for needs in El Salvador. And the rest is then used to buy bitcoin. Maybe that's how I understand it from my perspective.

You take my post and you twist it into your seemingly anti-Bukele agenda...and largely you seem to be taking somewhere close to the exact opposite position as me in terms of the extent to which Bukele might be overly aggressive in his investing into bitcoin rather than the ways he is spending in other areas on behalf of the taxpayers.  I did not even suggest anything in regards to other ways in which government funds should be used - outside of mentioning that Bukele's amount of investment into bitcoin is pretty whimpy, since it is largely not even 1% of the government's general revenues..... and after 2.5 years investing into bitcoin, he still has barely accumulated 5% of the annual budget in bitcoin. - and some of that value is due to bitcoin's appreciation rather than an amount invested into bitcoin.

So you seem to be suggesting that bukele should be investing and/or spending in other ways (which personally seems like nonsensical claims that lack evidence), while I suggested that Bukele could be more aggressive in the investment of more funds into bitcoin without hardly feeling a dent in terms of disadvantages to El Salvador's current spending and being able to have great potentialities for profits and more options into the future, which is the reason that a lot of folks invest, and institutions and governments can be considered in similar ways.

Surely investing into bitcoin or investing in other ways rather than spending on government services is a choice in regards to spending now (or investing now into certain things or other things that have trade-offs) versus having more options to be able to spend more later - which surely are the kinds of trade offs that individuals make and the leaders of institutions and/or governments are taxed with representing the interests or their shareholders and or their citizen's.. including in the realm of investing and/or deferred gratification that may or may not end up paying off... Probably Bukele is so popular based on some of the trade offs that he is making and El Salvador citizens seems to be overwhelmingly quite satisfied with the various ways that he is exercising discretion on behalf of the citizens.

Of course, in this forum many of us are bitcoiners so we believe in the investment into bitcoin including figuring out proper balances that are likely different for each of us, even though many of us will still have parameters that are comparable in terms of measuring things that we might want now versus what kinds of things we might be able to defer, and most likely I am suggesting that Bukele and/or his government could be multiple times more aggressive in the investment into bitcoin purchases and still end up being a responsible fiduciary and/or representative of the people.  I am saying that Bukele seems to be whimpy in regards to his bitcoin investment in order to offset when others are making proclamations that he has too many BTC blah blah blah. .which does not seem to be true, even though he did suggest that the public wallet that he shared with around 5.6k bitcoin did not represent all of El Salvador's bitcoin holdings. 

People conclude that Bukele has purchased a lot of bitcoin, and my argument is that from the way that I analyze allocations, the amount remains pretty damned whimpy, relatively speaking even if they happen to be a government rather than an individual or and institution.

After Halving i am pretty sure BTC value will go back to  38-40K around or may be down.

I can't go with the prediction you made. The candle that made Bitcoin rise is not the same as in previous years. However, the way Bitcoin has been growing this season, it seems that Bitcoin will not go below $50,000 before and after the halving. When Bitcoin dropped from $74k to below $60k I didn't feel upset because I thought Bitcoin would only go to $50k but the market bounced back to $68k. If the market goes up from here I think Bitcoin could go to $80k before the halving. But if you want to invest in bitcoins hoping for your predictions then I think you may not be successful in investing.

Just try to open up for some possibilities since its not impossible to happen. We never though that we experience a huge dump before but it happen and what's more important there is we are prepared to accumulate since this is the best thing we could do at that time since for so many times it proven that those people which accumulate at lowest point of bitcoin will always get rewarded as long as they have long patience to wait for long term.

Sure in the short-term a lot of us are going to feel better for buying on dips, yet if we are really in for the long run, it may not make a whole hell of a lot of difference whether we buy more BTC at $65k or if we end up being able to catch a dip down to $61k or some lower point, especially given the trade-offs that we have hardly any clue regarding whether or how far such dips will happen.  They may or may not happen, so it is likely better to have a more solid plan regarding just buying regularly rather than trying to figure out the extent to which there is going to be more dip or even trying to perfect the level of dip because many times those folks trying to perfect the dip may well not be buying as frequently or as much as they should be buying because they are spending more time waiting rather than buying.

But if the price won't dump at that figure then its still fine as long as we are ready for any possibilities and we have money to spend for investment so for sure waiting game we are on is truly worth it after all.

Anyone who has a regular income can just buy bitcoin regularly,, and some of that could be somewhat automated and other parts could be manual buys, so I don't see where the waiting comes into play except to realize that it takes a whole fucking long time to build up an investment, so it can take time to have enough salary to be able to buy as many BTC as you would like to buy.

El Salvador's President Naib Buquel has said his country will continue to buy 1 bitcoin a day until the price of bitcoin becomes 'unaffordable' with fiat currency.

That's a very good move. While it's true that such a low investment is nothing for a country with 6.5 million population, it's still a profitable and will help country to have stable, growing reserves of Bitcoin.

I'm surprised and shocked that a country that is under development will be the first to do this.. I was expecting the U.S.A, CANADA or other developed countries to start the trend.

The USA, Canada and most of other developed countries don't like Bitcoin and cryptocurrencies and it's a drop in the ocean for such a big countries to invest money in Bitcoin. It's also illogical to expect from them to start accepting Bitcoin payments and forcing their citizens to accept it. In this case, El Salvador might be a good test country to see how things go.

Well, since it appears that after 2.5 years investing into bitcoin, el Salvador has gotten to nearly 5% of its annual revenues in bitcoin, just consider how many bitcoin the USA, Canada or any other developed country would have to buy in order for bitcoin to constitute 5% of its annual revenues.  Any country could try to buy BTC, but surely it would put way more price pressures on BTC if larger countries were engaging in BTC purchases, and in the whole scheme of things, El Salvador is pretty tiny - even though it could buy way more bitcoin without really affecting bitcoin's liquidity or to cause great slippage in the BTC price. 

As I mentioned earlier, El Salvador could be justified to buy close to $1 million worth of bitcoin per day, and that would still ONLY be around 5% of its revenues, and maybe some other countries might feel that they need to catch up to El Salvador in terms of percentage of their revenues, which would be much more difficult for larger countries to do without really greatly affecting BTC's price, which largely should show how early we still are when it comes to bitcoin's adoption and how much liquidity that bitcoin truly could absorb if some additional countries start to buy bitcoin and/or try to catch up to El Salvador in terms of percentage of their annual revenues.

[yudi09]

When Bitcoin dropped from $74k to below $60k I didn't feel upset because I thought Bitcoin would only go to $50k but the market bounced back to $68k. If the market goes up from here I think Bitcoin could go to $80k before the halving. But if you want to invest in bitcoins hoping for your predictions then I think you may not be successful in investing.

The attitude of not feeling disappointed when Bitcoin experiences another deep decline is for me an attitude that should be taken by people who believe in Bitcoin. This needs to be maintained during this phase.
Bitcoin's price decline again after solving the puzzle to break through $73K could be a good setting for the next price spike after the halving which will be marked as an event that will never be forgotten.

Not $80K, but more.
Doubts about Bitcoin are only felt by those who don't know how Bitcoin works. [.]

[Synchronice]

Well, since it appears that after 2.5 years investing into bitcoin, el Salvador has gotten to nearly 5% of its annual revenues in bitcoin, just consider how many bitcoin the USA, Canada or any other developed country would have to buy in order for bitcoin to constitute 5% of its annual revenues.  Any country could try to buy BTC, but surely it would put way more price pressures on BTC if larger countries were engaging in BTC purchases, and in the whole scheme of things, El Salvador is pretty tiny - even though it could buy way more bitcoin without really affecting bitcoin's liquidity or to cause great slippage in the BTC price. 

As I mentioned earlier, El Salvador could be justified to buy close to $1 million worth of bitcoin per day, and that would still ONLY be around 5% of its revenues, and maybe some other countries might feel that they need to catch up to El Salvador in terms of percentage of their revenues, which would be much more difficult for larger countries to do without really greatly affecting BTC's price, which largely should show how early we still are when it comes to bitcoin's adoption and how much liquidity that bitcoin truly could absorb if some additional countries start to buy bitcoin and/or try to catch up to El Salvador in terms of percentage of their annual revenues.

I think that it would be best if El Salvador was about to buy 1 block each day instead of 1 bitcoin, i.e. buy the quantity of bitcoins that each block contain (i.e. 6.25 BTC per day till 21 April 2024 and then 3.125 BTC per day till the next halving and so on). I genuinely believe that such a plan would be far better in every possible way.
To be honest, I don't think it's a good idea to buy Bitcoin on a country level. It's okay for El Salvador and for small developing or probably developed countries but that's too dangerous for big countries like the USA, Germany, Japan and so on because there are too many things that has to be kept in mind, including what will happen if Satoshi arrives, who are the whales of this coin, what if there is a hard fork, etc.

[JayJuanGee]

Well, since it appears that after 2.5 years investing into bitcoin, el Salvador has gotten to nearly 5% of its annual revenues in bitcoin, just consider how many bitcoin the USA, Canada or any other developed country would have to buy in order for bitcoin to constitute 5% of its annual revenues.  Any country could try to buy BTC, but surely it would put way more price pressures on BTC if larger countries were engaging in BTC purchases, and in the whole scheme of things, El Salvador is pretty tiny - even though it could buy way more bitcoin without really affecting bitcoin's liquidity or to cause great slippage in the BTC price. 

As I mentioned earlier, El Salvador could be justified to buy close to $1 million worth of bitcoin per day, and that would still ONLY be around 5% of its revenues, and maybe some other countries might feel that they need to catch up to El Salvador in terms of percentage of their revenues, which would be much more difficult for larger countries to do without really greatly affecting BTC's price, which largely should show how early we still are when it comes to bitcoin's adoption and how much liquidity that bitcoin truly could absorb if some additional countries start to buy bitcoin and/or try to catch up to El Salvador in terms of percentage of their annual revenues.

I think that it would be best if El Salvador was about to buy 1 block each day instead of 1 bitcoin, i.e. buy the quantity of bitcoins that each block contain (i.e. 6.25 BTC per day till 21 April 2024 and then 3.125 BTC per day till the next halving and so on).

Sure of course they could afford to do that, and it would still be less than 5% of their budget, since their daily budget is close to $1million per day if they were to use a 5% rate.

It is a bit problematic to measure what you are doing (especially when it comes to dollar cost averaging kinds of purchases) in terms of BTC rather than in terms of dollars, because pricing the asset in terms of dollars would naturally cause buying more BTC when the prices are lower and fewer BTC when the prices are higher.. but then we should all realize that the world values are still measured in terms of dollars, and not in terms of bitcoin - since bitcoin is very volatile in regards to the dollar, not only because their is a war going on right now, but also because bitcoin is still in its earliest stages of exponential s-curve adoption..

 so there is going to be more value to figure out ways to be more rather than less aggressive in terms of BTC accumulation.. but to also limit such aggressiveness in terms of real world considerations and real world considerations are still priced in terms of dollars, not bitcoin.  So yeah, your suggestion is more aggressive than what they are currently doing, but I think it is still too whimpy and it is also denominated wrongly (and in fantasy terms rather than more realistic terms).

I genuinely believe that such a plan would be far better in every possible way.
To be honest, I don't think it's a good idea to buy Bitcoin on a country level. It's okay for El Salvador and for small developing or probably developed countries but that's too dangerous for big countries like the USA, Germany, Japan and so on because there are too many things that has to be kept in mind, including what will happen if Satoshi arrives, who are the whales of this coin, what if there is a hard fork, etc.

Oh gawd..    You sound looney and like you don't even understand what the fuck is bitcoin.  Who cares about the whales and the big holders.  There are still coins on the market and anyone can buy them.;. .and yeah people who got into bitcoin are going to be more and more advantaged by the extent to which others are coming into bitcoin later and buying later, which is one of the main justifications to get into bitcoin as soon as you can whether you are an individual, institution or a state...

and if you don't get into bitcoin sooner rather than later, then you are going to either have to enter bitcoin later and pay more or you are going to have to have fun staying poor including suffering from being on the wrong side of the greatest wealth transfer known to mankind.. and the criteria for the wealth transfer is that you have bitcoin.. so those who have bitcoin are going to be the recipients of the wealth transfer, and those who don't have bitcoin will be the ones who are losing their value to the coiners.. so better jump onboard sooner rather than later rather than getting worked up about whether you are unjustly pumping the bags of the guys who got in earlier...that is a losing mentality to think about bitcoin in those kinds of jealously (whining) laden ways.

[Belarge]

El Salvador have been making bold steps lately and they're exceptional independent, no longer considered a sovereignty country but a good status for other countries to look up to when it comes to cryptocurrency. El Salvador becomes the first country to trigger bitcoin as a legal tender in their country. They're improving when it comes to crypto because they know what to do and they're doing their best to make sure they stand in good position and also playing a major role in the development of cryptocurrency.

[Essential10]

El Salvador is making them more developed day by day. We know that President Naib Bookel said that the government will work to provide the necessary infrastructure for the US dollar as well as Bitcoin, which is currently the primary currency of El Salvador. The move is seen as a bold step in modernizing the country's financial system. El Salvador is boldly moving forward with their cryptocurrency. As a small country, El Salvador is looking to diversify its energy mix, adding nuclear power. If they are able to add nuclear power, it will open up new opportunities for investment and innovation in Bitcoin-embracing countries like El Salvador.



Source

[JayJuanGee]

In the below linked podcast, there is a 45 minute discussion about the ongoing expansion of the Mi Primer program into several other countries, besides its start in El Salvador Stephan Livera Podcast: Mi Primer Bitcoin Goes International with John Dennehy SLP558

[2Pizza410000BTC]

In the below linked podcast, there is a 45 minute discussion about the ongoing expansion of the Mi Primer program into several other countries, besides its start in El Salvador Stephan Livera Podcast: Mi Primer Bitcoin Goes International with John Dennehy SLP558

I have been waiting for a long time by entering from your link to see this news provided by you but I could not reach the desired goal. Will it not be possible to view it through mobile or should it be viewed through a PC? It comes from my mobile and always stays like this.

[JayJuanGee]

In the below linked podcast, there is a 45 minute discussion about the ongoing expansion of the Mi Primer program into several other countries, besides its start in El Salvador Stephan Livera Podcast: Mi Primer Bitcoin Goes International with John Dennehy SLP558

I have been waiting for a long time by entering from your link to see this news provided by you but I could not reach the desired goal. Will it not be possible to view it through mobile or should it be viewed through a PC? It comes from my mobile and always stays like this.

Well I guess that I am not sure because the Overcast App is on Apple IOS but it might not be on android.   

I am sure that there are other places that you can get podcasts on your mobile device and then just look up Stephan Livera's podcast from whichever podcast provider you are using on your mobile device.

[2Pizza410000BTC]

In the below linked podcast, there is a 45 minute discussion about the ongoing expansion of the Mi Primer program into several other countries, besides its start in El Salvador Stephan Livera Podcast: Mi Primer Bitcoin Goes International with John Dennehy SLP558

I have been waiting for a long time by entering from your link to see this news provided by you but I could not reach the desired goal. Will it not be possible to view it through mobile or should it be viewed through a PC? It comes from my mobile and always stays like this.

Well I guess that I am not sure because the Overcast App is on Apple IOS but it might not be on android.   

I am sure that there are other places that you can get podcasts on your mobile device and then just look up Stephan Livera's podcast from whichever podcast provider you are using on your mobile device.

Yes sir I understand. My mobile is android maybe that's why it looks like this on my mobile. I will try to watch from a unique location with my mobile. If I can see it I will definitely let you know here. Thank you very much for answering me with your valuable time.

[wmaurik]

El Salvador have been making bold steps lately and they're exceptional independent, no longer considered a sovereignty country but a good status for other countries to look up to when it comes to cryptocurrency. El Salvador becomes the first country to trigger bitcoin as a legal tender in their country. They're improving when it comes to crypto because they know what to do and they're doing their best to make sure they stand in good position and also playing a major role in the development of cryptocurrency.

El Salvador has not only experienced progress in the crypto sector, but has also experienced more progress in other areas in recent years so that the country's government is still quite consistent in continuing new things that can make the country of El Salvador more advanced and also become a role model for all countries when it comes to crypto. Just look at how the government continues to eradicate bullies in the country by relying on the police within the country to keep El Salvador in a peaceful and safe condition from anything. It is also an important step forward for the country of El Salvador in addition to their commitment to decarbonization that allows safe and secure nuclear use.
Source: https://twitter.com/rafaelmgrossi/status/1771211319246508053

[2Pizza410000BTC]

New news published 16 hours ago invested 5700 bitcoins in El Salvador. 5700 Bitcoin equals 400 million dollars. Here in El Salvador 5700 bitcoin investment profit is 80 million dollars which is a nice profit. The success of Bitcoin investment in El Salvador creates a new dream in the mind of every investor.



Source: https://twitter.com/BitcoinMagazine/status/1772554983549874465?t=0eySBzCPGqjYZwbFDymRtQ&s=19