First Bitcoin City

[andriarto]

El salvador is country of central america. And it is in big loss. They have bought BTC on 50k$ but today BTC price is 35k$+ so there in big loss.

looks like what you say is true if you look at the purchase price at the current price there has been a loss. but it is precisely the President of El Salvador Nayib Bukele that continues to make purchases proving that they believe that in time bitcoin will reach the much-desired price.

at this time they actually continue to save it to be a very attractive investment, because confidence in bitcoin is very high and they believe they will receive a profit in time, this is actually good news about bitcoin. they firmly believe that they have nothing to lose to continue to hold bitcoins.

if they are sold for the time being, they may lose, but if at this time they actually make a purchase, then they have not lost. of course they have also taken into account the risk with this high fluctuation, so this is actually an example for us not to be afraid to invest. on the other hand with the government's confidence, of course they have also made big profits before

[Mr.sprin]

Does el-salvador country buy bitcoin for resale like investors, i'm sure the president of el-salvador has thought of the ups and downs before they legalized bitcoin in their country so i'm pretty sure they don't panic when bitcoin price drops.

[fillippone]

Does el-salvador country buy bitcoin for resale like investors, i'm sure the president of el-salvador has thought of the ups and downs before they legalized bitcoin in their country so i'm pretty sure they don't panic when bitcoin price drops.

I am sure they are buying to finance the airdrop they have committed for every download. If only 50% of El Salvador citizen download the app they need to buy a couple of thousand bitcoins.
Long way to go.

[LUCKMCFLY]

Does el-salvador country buy bitcoin for resale like investors, i'm sure the president of el-salvador has thought of the ups and downs before they legalized bitcoin in their country so i'm pretty sure they don't panic when bitcoin price drops.

What we don't know is if Bukele actually has a fraction of BTC in leveraged shorts and is winning right now, we don't know if his crypto advisors are professionals and are making a lot of money right now while we all speculate that he is losing, I am sure that with how intelligent that president has been, he has an action plan in the face of a possible bearish market and how to act against it to get the most out of it.

[marilynmanson21]

El Salvador is opening up a new history and there are sure to be more surprises in the future. I believe most fans would be proud of them now. Although there are several factors which until now continue to stop bitcoin in other countries but they are still pushing and improving bitcoin because of the determination and good outlook in it. as we know that Bitcoin can live among us without needing to attack each other. The reason is, the merging of the government with Bitcoin is actually the beginning of a pilot country to open the eyes of the world at large to the existence of Bitcoin.

[buwaytress]

What we don't know is if Bukele actually has a fraction of BTC in leveraged shorts and is winning right now, we don't know if his crypto advisors are professionals and are making a lot of money right now while we all speculate that he is losing, I am sure that with how intelligent that president has been, he has an action plan in the face of a possible bearish market and how to act against it to get the most out of it.

So what we don't know is if Bukele's actually just gambling? Already several threads now going on on this forum questioning the wisdom of him using whatever cash he has (fiat, even, not Bitcoin when he could have liquidated some at the high) for investing in vanity projects when he's supposed to be fixing his economy.

All we know who's been seen with him publicly are influencers. When has he actually displayed intelligence on his own?

[Artemis3]

Some people here seem to think the only thing to do with bitcoin is trade, you cannot be more wrong.

A country needs reserves, doesn't need to be playing margin trading. There are no loses, only savings.

The current price is irrelevant, because the long term price is upwards, as it has always been. And reserves are that, not gambling money.

Purchasing bitcoin is never wrong, no matter what. Only selling is.

[mrongoz_imut]

it can't be denied that the first bitcoin city was el salvador, because el salvador dared to take the first step to adopt bitcoin, and make bitcoin a legal payment, even though there was a lot of criticism from other countries but el salvador didn't care and nayeb bukele still made bitcoin a currency legal money, although now there are many accusations that the El Salvador economy is destroyed because of adopting bitcoin, but Nayeb bukele still makes bitcoin a legal currency.

[savetheFORUM]

it can't be denied that the first bitcoin city was el salvador, because el salvador dared to take the first step to adopt bitcoin, and make bitcoin a legal payment, even though there was a lot of criticism from other countries but el salvador didn't care and nayeb bukele still made bitcoin a currency legal money, although now there are many accusations that the El Salvador economy is destroyed because of adopting bitcoin, but Nayeb bukele still makes bitcoin a legal currency.

They did not listen to the warnings of other countries about the potential risk that they might get on adopting bitcoin and now they are facing their consequences. Their country is now said to be on a huge debt because btc price plunges too much. Is this the end of El Salvador? Will El Salvdaor sell at a loss and permanently quit on adopting bitcoin? No, I do not think so, El Salvador have done some bitcoin projects before and they are planning to do more when things get settled.

I think this is what they say that bitcoin can destroy someone's economy, no wonder why no countries other than El Salvador made bitcoin as a legal tender because they are scared of what it can do to them.

[Shasha80]

it can't be denied that the first bitcoin city was el salvador, because el salvador dared to take the first step to adopt bitcoin, and make bitcoin a legal payment, even though there was a lot of criticism from other countries but el salvador didn't care and nayeb bukele still made bitcoin a currency legal money, although now there are many accusations that the El Salvador economy is destroyed because of adopting bitcoin, but Nayeb bukele still makes bitcoin a legal currency.

They did not listen to the warnings of other countries about the potential risk that they might get on adopting bitcoin and now they are facing their consequences. Their country is now said to be on a huge debt because btc price plunges too much. Is this the end of El Salvador? Will El Salvdaor sell at a loss and permanently quit on adopting bitcoin? No, I do not think so, El Salvador have done some bitcoin projects before and they are planning to do more when things get settled.

I think this is what they say that bitcoin can destroy someone's economy, no wonder why no countries other than El Salvador made bitcoin as a legal tender because they are scared of what it can do to them.

There are indeed many rumors that say El Salvador has a huge debt due to the falling Bitcoin price, and there is a possibility that El Salvador
will stop adopting Bitcoin. But I think it's just a rumor spread by other countries that really don't like El Salvador's decision, which El Salvador
legalized Bitcoin as a legal tender. After all, Nayib Bukele as president of El Salvador must have had a backup plan in case the Bitcoin price fell,
no way Nayib Bukele with a background as one of the successful young entrepreneurs in El Salvador, make reckless decisions. I believe El Salvador
can prove to the world that they decision to adopt Bitcoin is right, and can make other countries that are afraid to adopt Bitcoin can change their minds.

[Wiwo]

it can't be denied that the first bitcoin city was el salvador, because el salvador dared to take the first step to adopt bitcoin, and make bitcoin a legal payment, even though there was a lot of criticism from other countries but el salvador didn't care and nayeb bukele still made bitcoin a currency legal money, although now there are many accusations that the El Salvador economy is destroyed because of adopting bitcoin, but Nayeb bukele still makes bitcoin a legal currency.

They did not listen to the warnings of other countries about the potential risk that they might get on adopting bitcoin and now they are facing their consequences. Their country is now said to be on a huge debt because btc price plunges too much. Is this the end of El Salvador? Will El Salvdaor sell at a loss and permanently quit on adopting bitcoin? No, I do not think so, El Salvador have done some bitcoin projects before and they are planning to do more when things get settled.

I think this is what they say that bitcoin can destroy someone's economy, no wonder why no countries other than El Salvador made bitcoin as a legal tender because they are scared of what it can do to them.

There are indeed many rumors that say El Salvador has a huge debt due to the falling Bitcoin price, and there is a possibility that El Salvador
will stop adopting Bitcoin. But I think it's just a rumor spread by other countries that really don't like El Salvador's decision, which El Salvador
legalized Bitcoin as a legal tender. After all, Nayib Bukele as president of El Salvador must have had a backup plan in case the Bitcoin price fell,
no way Nayib Bukele with a background as one of the successful young entrepreneurs in El Salvador, make reckless decisions. I believe El Salvador
can prove to the world that they decided to adopt Bitcoin is right and can make other countries that are afraid to adopt Bitcoin can change their minds.

This rumor is so not true, how can El Salvador be in debt because of Bitcoin market fluctuation when there are not trading bitcoin but buying for long-term purposes and you can only lose when you sell Bitcoin below the purchased price.
The last I hard was the president's readiness to buy more if the dip continues, El Salvador is not using only Bitcoin as its currency the primary currency remains the dollar and the GDP is still in the dollar and not Bitcoin.

[Juse14]

it can't be denied that the first bitcoin city was el salvador, because el salvador dared to take the first step to adopt bitcoin, and make bitcoin a legal payment, even though there was a lot of criticism from other countries but el salvador didn't care and nayeb bukele still made bitcoin a currency legal money, although now there are many accusations that the El Salvador economy is destroyed because of adopting bitcoin, but Nayeb bukele still makes bitcoin a legal currency.

Yes, a bold move for El Salvador, showing that they truly believe that one day bitcoin will become a more valuable asset than it is now. You are right even though many criticize but that does not stop El Salvador from legalizing it. I am sure that in the future many will follow in El Salvador's footsteps in adopting and legalizing bitcoin as a legal tender.

[lenovop-70]

Wow, that is a brave step taken by a country, I hope they survive and can set a good example for other countries. I think what El Salvador did deserves to go down in history like Bitcoin Pizza Day.
Hopefully they can use Bitcoin as a means of prosperity for their people, because as we know, cryptos can change the world instantly.

[yohananaomi]

Wow, that is a brave step taken by a country, I hope they survive and can set a good example for other countries. I think what El Salvador did deserves to go down in history like Bitcoin Pizza Day.
Hopefully they can use Bitcoin as a means of prosperity for their people, because as we know, cryptos can change the world instantly.

certainly a very brave act from a country and needs to be appreciated that the actions taken are indeed for the benefit of its citizens who will be helped by the presence of bitcoin. Of course, what Elsaavador has done will be recorded and become something of progress that should also be an example for other countries. we hope that there will be more countries that will follow in the footsteps of elsavador so that bitcoin also grows stronger into something of its own trust.

[Tellek Garing]

Does el-salvador country buy bitcoin for resale like investors, i'm sure the president of el-salvador has thought of the ups and downs before they legalized bitcoin in their country so i'm pretty sure they don't panic when bitcoin price drops.

I am sure they are buying to finance the airdrop they have committed for every download. If only 50% of El Salvador citizens download the app they need to buy a couple of thousand bitcoins.
Long way to go.

You are right but I don't know how the country plan to get its citizens on Bitcoin transaction as to be able to recover all the revenue that has been put into the $30/airdrop, of the government-approved wallet can tax the citizens on every bitcoin transaction because the government has put in a lot of money into this project, even the Bitcoin city project also speaks volumes of how much the El Salvador government ready to invest in Bitcoin.

[Wiwo]

El Salvador is first bitcoin city in the world and it will be first bitcoin legal tender in the world and it will be a new record of success history of bitcoin.

we have to appreciate what a country like elsavador has done by making quite a bold move. but that's not all that we hope for, because we hope that this will trigger many other countries to participate, because if only a few countries take action, of course, the breakthrough will not find a target.
but of course, this is an act that needs to be appreciated and we need to continue to raise it so that many countries and institutions will have more faith in bitcoin.

El Salvador Bitcoin adoption opens up a great path for global cryptocurrency adoption, the recent news is that Russian banks and other financial institutions now adopting Bitcoin and the entire cryptocurrency industry.
The IMF statement to El Salvador was just advice and the El Salvador government is wiser and has moved above that level. In the near future, El Salvador is going to make 1st position on the list of countries that have adopted bitcoin.

[Peanutswar]

If that so it's good news not only for the place itself but also to the people who support the use of the bitcoin this is another chance to adopt the use of the payment method of the cryptocurrency, this is the year of the uprising of the digital assets if this trend becomes helpful to the community and the government itself there's a chance that the other city or country applied this kind of innovations too.

[Ryker1]

El Salvador is first bitcoin city in the world and it will be first bitcoin legal tender in the world and it will be a new record of success history of bitcoin.

we have to appreciate what a country like elsavador has done by making quite a bold move. but that's not all that we hope for, because we hope that this will trigger many other countries to participate, because if only a few countries take action, of course, the breakthrough will not find a target.
but of course this is an act that needs to be appreciated and we need to continue to raise it so that many countries and institutions will have more faith in bitcoin.

Well we hope some other countries too do the same with El Salvador.
It would be great in light of the fact that they were the principal country to utilize bitcoin. Numerous urban communities might consider thoroughly embracing digital currency on the off chance that their execution is great and demonstrated compelling. They should also construct a city where we can get all we want to be aware of digital currency. I also agree that they have done their work effectively, which is the reason they need to utilize bitcoins to spread their developments.

[romero121]

Once again the Treasury Minister confirm about the stand on bitcoin as legal tender. El Salvador have taken a strong decision and are sticking to it even after several warnings from IMF. Quoting the market volatility IMF requested El Salvador government to reject bitcoin forever and dismiss it's new found crypto agenda. The president responded with a simple meme "I see you, IMF. That's very nice".

Now Alejandro Zelaya(Treasury Minister) have mentioned bitcoin as a way for the country to be more independent. About the crypto adoption he adds, Countries are sovereign nations, and they take sovereign decisions about public policy. No international organisation is going to make us do anything, anything at all.

[Sksordar795]

This a good news for BTC & Ours.We the BTC lovers & Investors are waiting for good news like this.