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[JayJuanGee]

9 out of 10 Salvadorans don't know what bitcoin is. Then 8 out of 10 claimed to have little faith in digital money, some even stated that they did not believe in it at all.

Bitcoin will definitely have an effect on society. If people don't know about bitcoin, then bitcoin adoption will fail. Because people's knowledge of bitcoin must also be needed.

On the other hand, if the Society knows about bitcoin, it will definitely not fail.

https://inet.detik.com/cyberlife/d-5909396/nekat-adopsi-bitcoin-negara-ini-jadi-amburadul/amp

Bitcoin has about 1% world-wide adoption, so 99/100 people in the world don't know what the fuck bitcoin is; however, personally, I will proclaim that bitcoin is already a success - even though it still has relatively low levels of adoption, and arguably even lower levels of awareness than the El Salvador population in which you are proclaiming that only 90% don't know what bitcoin is.. even though I question your rendition of supposed "awareness levels" of El Salvadoreans... as you are parroting such assertions from that article that you linked, unless we are just supposed to believe any kind of bullshit, merely because it is asserted within a linked article?  Is your source credible Tallupooh?  Maybe you should explain why you believe your source to be credible, and even elaborate on your own assertions regarding how even if the statistics were true how they support your conclusion that Bitcoin has failed in El Salvador.

To be honest, I actually only believed the articles I read. because I think the article makes a lot of sense about the failure of bitcoin adoption in El Salvador. Of course, I also read other articles to increase my knowledge. I'm sure people have different opinions and have their own beliefs.

Well, if you are able to engage in critical thinking, which is an important skill for attempting to give weight to things that we might read including but not limited to attempting to weight facts, logic and conclusions that are reached based on such critical thinking, then you should be able to explain why you believe some facts, logic and conclusions are more persuasive than others.

In other words, not everything is true merely because it is written in some random article, and you should know better than just accepting matters on face value - which causes me to speculate that you are not really even attempting to be genuine with your expression of your purported beliefs and practices.

In other words (and I running out of words yet?), you are quite likely full of shit.

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[Tallupooh]

9 out of 10 Salvadorans don't know what bitcoin is. Then 8 out of 10 claimed to have little faith in digital money, some even stated that they did not believe in it at all.

Bitcoin will definitely have an effect on society. If people don't know about bitcoin, then bitcoin adoption will fail. Because people's knowledge of bitcoin must also be needed.

On the other hand, if the Society knows about bitcoin, it will definitely not fail.

https://inet.detik.com/cyberlife/d-5909396/nekat-adopsi-bitcoin-negara-ini-jadi-amburadul/amp

Bitcoin has about 1% world-wide adoption, so 99/100 people in the world don't know what the fuck bitcoin is; however, personally, I will proclaim that bitcoin is already a success - even though it still has relatively low levels of adoption, and arguably even lower levels of awareness than the El Salvador population in which you are proclaiming that only 90% don't know what bitcoin is.. even though I question your rendition of supposed "awareness levels" of El Salvadoreans... as you are parroting such assertions from that article that you linked, unless we are just supposed to believe any kind of bullshit, merely because it is asserted within a linked article?  Is your source credible Tallupooh?  Maybe you should explain why you believe your source to be credible, and even elaborate on your own assertions regarding how even if the statistics were true how they support your conclusion that Bitcoin has failed in El Salvador.

To be honest, I actually only believed the articles I read. because I think the article makes a lot of sense about the failure of bitcoin adoption in El Salvador. Of course, I also read other articles to increase my knowledge. I'm sure people have different opinions and have their own beliefs.

Well, if you are able to engage in critical thinking, which is an important skill for attempting to give weight to things that we might read including but not limited to attempting to weight facts, logic and conclusions that are reached based on such critical thinking, then you should be able to explain why you believe some facts, logic and conclusions are more persuasive than others.

In other words, not everything is true merely because it is written in some random article, and you should know better than just accepting matters on face value - which causes me to speculate that you are not really even attempting to be genuine with your expression of your purported beliefs and practices.

In other words (and I running out of words yet?), you are quite likely full of shit.

thank you for your advice, I will continue to study and learn so that my writing is better.

My knowledge is still not much, so once again thank you for reminding me.

[OsipBabin]

Definitely the most significant event of 2021 was the adoption of bitcoin as a means of payment in El Salvador. Personally, I was initially skeptical about all this. Don't get me wrong, I'm not a bitcoin hater and I'm a supporter of bitcoin adoption because it develops the bitcoin ecosystem itself and opens up new uses for it. My skepticism was rather based on the very approach of the El Salvadorian authorities to this responsible step.

Even on the threshold of adoption, a wave of indignation swept over the country and people came out with pickets against bitcoin. It was at the end of August, right before the adoption:

https://i.ibb.co/XJ45B43/image.png

The people of El Salvador are protesting against Bitcoin bill

But the president said that everything will be fine, bitcoin will be optional, the state will not punish those who refuse to accept bitcoin with sanctions, and the introduction of bitcoin will significantly save money on commissions, and payments, thanks to LN, will be fast.

Nayib Bukele has consistently demonstrated the success of Bitcoin on Twitter through the number of Chivo wallet downloads. But was it really a success? It's all about the initiative from the government of $30, which was received by anyone who downloaded and installed the Chivo wallet. This was the real reason that users downloaded the wallet so often. Just for $30.

Subsequently, there was the idea of ​​​​introducing bitcoin bonds, the terms of which were constantly postponed. The real reason for this was that investors were not interested in bitcoin bonds, as the former head of the central bank of El Salvador said:

Economistas dan por “muertos” acuerdo con FMI y los Bonos Bitcoin

The country is in a very bad state of affairs. The IMF refused to issue a loan of 1.3 billion dollars, in 7 months the country became even closer to default, and the project of bitcoin bonds for a billion dollars did not find due interest among investors, especially at a time when bitcoin is considered as a risky asset.

Most recently, a report was released where a survey of residents of El Salvador was conducted. And judging by this survey, bitcoin adoption in El Salvador failed.

Full report here: https://www.nber.org/system/files/working_papers/w29968/w29968.pdf?utm_campaign=PANTHEON_STRIPPED&amp%3Butm_medium=PANTHEON_STRIPPED&amp%3Butm_source=PANTHEON_STRIPPED

It reflects the real state of affairs and it is, to put it mildly, deplorable. Here are some of the indicators:

https://i.ibb.co/KbhCR59/Opera-2022-04-27-184843-www-nber-org.png

Judging by this chart, the number of regular users of Chivo is much less than the number of people who learned about it or tried to use it, most likely to extract those 30 dollars of initiative from the state.

https://i.ibb.co/HGpT3Vq/Opera-2022-04-27-185114-www-nber-org.png

Of course, there is no need to talk about such functions as paying taxes or receiving money transfers through Chivo. Almost no one used these functions.

https://i.ibb.co/Msmqrvf/Opera-2022-04-27-184813-www-nber-org.png

The number of downloads of the wallet was high on the wave of hype and of course thanks to the airdrop. Over time, interest in this wallet has constantly dried up.

https://i.ibb.co/zFWSdYS/Opera-2022-04-27-184738-www-nber-org.png

Despite strong support from the state, in the country, after 7 months, every 3 people do not know anything about the Chivo wallet.

https://i.ibb.co/b7BpsQ7/Opera-2022-04-27-185738-www-nber-org.png

Businesses in El Salvador are not interested in bitcoin, although it is a prerequisite from the state that they add bitcoin, but the rate of addition is only 20%, and this is 7 months after the launch:

https://i.ibb.co/BjKDj6t/Opera-2022-04-27-185657-www-nber-org.png

Well, as I said earlier, there are a lot of those who downloaded the wallet just for the sake of receiving airdrop money. The graph confirms this, most of the users have never added money to the wallet.


What do we end up with? Bitcoin adoption in El Salvador failed. Why did this happen? It’s not about bitcoin, it’s about the approach, of course. Since this is still uncharted territory and this was the first time that bitcoin was recognized as legal tender by an entire state, I believe that the El Salvadorian government was very hasty in passing this law. The point is that you can't force people to voluntarily use bitcoin, especially when they're new to it. People themselves should want to use bitcoin, and the state should create an infrastructure around this desire to make using bitcoin even more comfortable at any level, as a transfer of money, paying taxes, etc.

I think that this case will be indicative for other states that also sought, following El Salvador, to accept bitcoin as legal tender. And that in order to implement this, everything will need to be very well checked and considered. The most optimal would be to first create a separate bitcoin zone in a single city or region and, based on its data, already make a decision on the introduction of bitcoin throughout the country. Need research and infrastructure, and then the adoption of a law. El Salvador did the exact opposite.

As long as the government is involved, it goes against the essence of the real Bitcoin - decentralization, and you don't need to think too much about other things. Without decentralized operations, there will be no Bitcoin. Where does success come from?

[OsipBabin]

I forgot to ask you just now, Ukraine accepts the financial support of digital currency, is there any way to stop this? Or would you join the army if you were needed? I will. Although I am not in Russia. I've always believed that a comedian is an actor after all.

[jokers10]

As long as the government is involved, it goes against the essence of the real Bitcoin - decentralization, and you don't need to think too much about other things. Without decentralized operations, there will be no Bitcoin. Where does success come from?

Bitcoin is decentralized by its nature. Government can only try to regulate its connections in outer world, but it has no real options of regulating it inside. I'm sure with further adoption of Bitcoin governments will try to regulate Bitcoin more and more again and again, but they have just limited options of doing so. So I have no worries about someone wants to use Bitcoin by own way, even through centralized decisions, Bitcoin itself will stay decentralized despite that. And as for nowadays El Salvadors decision even expands the frontiers of knowledge about Bitcoin for many people what is IMO good by itself.

[Oneandpure]

I have bad news rumor depend its true or not with El Savador Bitcoin saving at FTX exchange market, I don't know about this correct news or not but depending with some tweet I found in twitter. Bad thing if true if El Savador hold Bitcoin in FTX exchange market because paused withdrawal yesterday after faced problem with CZ the Binance exchange market owner. I have try to read several source but seems not found accurate information about El Savador really hold or save their Bitcoin assets in FTX exchange market.

I hope just rumor only because could be bad problem if Bitcoin save at FTX exchange due the withdrawing fund stop and not process yet.

Source investing.com

[jokers10]

I have bad news rumor depend its true or not with El Savador Bitcoin saving at FTX exchange market, I don't know about this correct news or not but depending with some tweet I found in twitter. Bad thing if true if El Savador hold Bitcoin in FTX exchange market because paused withdrawal yesterday after faced problem with CZ the Binance exchange market owner. I have try to read several source but seems not found accurate information about El Savador really hold or save their Bitcoin assets in FTX exchange market.

I hope just rumor only because could be bad problem if Bitcoin save at FTX exchange due the withdrawing fund stop and not process yet.

Source investing.com

Classical FUD I guess. CZ already issued a refutation after talking to Nayib Bukele. As CZ mentions, Nayib Bukele says that El Salvador's government never had any business with FTX. Of course we have no proofs but in this case first I want to see proofs from "accusing side", otherwise it is just a classical FUD attack.

[Wiwo]

There is a Twitter user @jpnLedger who often shares his impressions of the Lightning adoption in El Salvador. El Salvador is currently hosting a summit @AdoptingBTC

A Lightning Summit in El Salvador // Nov 15-17 // 100% of profits go to Bitcoin education in El Salvador

@jpnLedger said that bitcoin adoption in El Salvador has grown significantly and when attending this summit, he made many purchases with the help of Lightning, namely, he paid the immigration fee, paid for a taxi, paid for food and accommodation in El Salvador:

I guess this is one of the many primary bitcoin adoptions in El Salvador being able to settle migration and taxes fees with Bitcoin is a big relief to many that have been following this discussion on El Salvador's Bitcoin adoption, and seeing that the rate of adoption has grown significantly among retail businesses make the ease of transacting with Bitcoin more appealing in El Salvador. This also came as a relief from many worries about the success and state of El Salvador's Bitcoin position since we are in a mid of a bearish market and a lot of fomos around the cryptocurrency industry resulting from exchange collapse and other incidents that have affected investors and users motivation toward hold digital assets.

[GreatArkansas]

I have bad news rumor depend its true or not with El Savador Bitcoin saving at FTX exchange market, I don't know about this correct news or not but depending with some tweet I found in twitter. Bad thing if true if El Savador hold Bitcoin in FTX exchange market because paused withdrawal yesterday after faced problem with CZ the Binance exchange market owner. I have try to read several source but seems not found accurate information about El Savador really hold or save their Bitcoin assets in FTX exchange market.
(.....)

Classical FUD I guess. CZ already issued a refutation after talking to Nayib Bukele. As CZ mentions, Nayib Bukele says that El Salvador's government never had any business with FTX. Of course we have no proofs but in this case first I want to see proofs from "accusing side", otherwise it is just a classical FUD attack.

Exactly. This is FUD. Fake news. There's no proof at all that Bitcoin bought by El Salvador's president was in FTX Exchange.
Another thing is there's no proof at all too or official statement by El Salvador's government, so expect that this is completely FUD or fake news.

Another thing about Bitcoin adoption in El Salvador, for me it is not a fail. It's a good start and you can see there are already some neighboring countries also looking for Bitcoin to make it legal tender just like what El Salvador did. There are just some people who can't appreciate Bitcoin so they are against with it.

[Sang Veronike]

They are not used to it yet. Because of the payment network, there are not many shops that can pay with Bitcoin. Bitcoin usage is not at all as frequent as outsiders imagine. Bitcoin has been volatile over the past few months. Many people have panicked psychology.

[Aanuoluwatofunmi]

The President of El Salvador decided to change the strategy of investing in bitcoin. He recently tweeted that now El Salvador will buy 1 BTC every day.

I wonder where the money came from for such an undertaking? El Salvador's previous investment in bitcoin is now in an unrealized loss, and by January 2023 the country must cover a debt of $800,000,000 on Eurobonds (so that a default does not happen). Because of this upcoming event, the rating agencies even downgraded El Salvador's credit rating.

El-Savador is going far to present more positive results with this recent developments in buying 1btc per day, this will boost every tenderness it has for it to meet some part of its left targets in which it has already been paying some part of it debt with the revenue generated through the bitcoin tourism, so i believe they will still meet up with any target before or by 2023 with some of its accurate and steadfast economy strategies it's adopting together with the benefits that comes through it bitcoin adoption, if you know the the opportunities that lies alone in buying and accumulating the dip then you'll discover that even while during this bear period El-Savador can can maximize potential in making good progression of income through it.

[Cryptmuster]

Another thing about Bitcoin adoption in El Salvador, for me it is not a fail. It's a good start and you can see there are already some neighboring countries also looking for Bitcoin to make it legal tender just like what El Salvador did. There are just some people who can't appreciate Bitcoin so they are against with it.

What is a good start? In fact, I have not been to El Salvador and it is difficult for me to judge how good everything is with the adoption, but judging by the news, the population of El Salvador practically does not use bitcoin in everyday life. There are establishments where you can pay with bitcoin, but there are almost no people who want to do this, so at the moment this is not a very good start.

[thecodebear]

All I could do was laugh when these articles started coming out in the Spring claiming Bitcoin was a huge failure in El Salvador haha. They literally started coming out 7 months after it was made legal tender. Just like, wtf??! How about we wait a reasonable amount of time, like 10 years, not 7 months lol.


Bitcoin is globally owned only be 1-2% of the world. Of course it is much higher in some countries like the USA, and no doubt El Salvador, but still the vast majority of people don't own Bitcoin and don't really know anything about it. Most of the time someone asks me how I retired young and I tell them I retired thanks to Bitcoin they tell me they don't understand what Bitcoin is or they ask me about it.

The fact that maybe a few percent of the population of El Salvador are using Bitcoin regularly and didn't just download the Chiva wallet for the $30, a year after Bitcoin was made legal tender, is a HUGE success. Oh, and in a BEAR MARKET!! Who wants to bet in 2024 and 2025 a lot of El Salvadorians are going to wish they had educated themselves on Bitcoin in 2022 and started using and saving in Bitcoin?

The vast majority of people in El Salvador, like everywhere else in the world, don't know much about Bitcoin. It's not like people in El Salvador are uniquely educated on Bitcoin. But in El Salvador, because it is legal tender, lots of business accept Bitcoin and some people actual use bitcoin for payments (still extremely rare just about everywhere else in the world). And there are pockets in El Salvador where people use Bitcoin all the time. That's a huge success. As with everywhere else in the world, El Salvador Bitcoin usage will increase as Bitcoin education increases.



Right now, for most people, explaining why they should have Bitcoin is like explaining in the early 80's why someone should have a computer or in the mid-90s why they need the internet. There wasn't yet much you could do with a computer or the internet at those times and most people didn't need it. With Bitcoin, right now the use case is to secure your money yourself and generate wealth, except people are too misinformed about it and just think it is very risky so most don't even understand the most obvious thing about Bitcoin: that you make money with it. Since you can't spend it readily people don't understand why they would want it, yet. It'll take time for Bitcoin education to spread, and it'll take time for Bitcoin as a used payment network to spread. We're still in the early stages, and like computers and the internet in their early stages, it may be another couple decades before using Bitcoin is just a commonplace thing. So judging El Savlador's Bitcoin usage after 7 months or today after 14 months is just beyond absurd.

[Aanuoluwatofunmi]

Thanks for this clarification which i think will shed more light to OP of this thread and any other person thinking contrary to the success of bitcoin adoption in El-Savador, let me add this that people tend to accept what they called ponzi scam centralized inventions than what seems to be genuine like bitcoin, i wonder why people are really missing this a big time, instead of them to engage awareness campaign against shitcoins and other ponzi-like projects and currencies that extort from people in a dubious ways they begin to stage assault on the first ever invented digitally decentralized currency bitcoin, people are truly missing it up, while El-Savador is already making it up with it's adoption, everything we almost hear about El-Savador on media are just backed by the influence of news and publicity, they are not the real situation in El-Savador than the ones the official government presented through their verified social media handles, if you should visit El-Savador today, you would have discovered alot of transformation it had from few years back and all these were the evident in it bitcoin adoption.

[Odusko]

All I could do was laugh when these articles started coming out in the Spring claiming Bitcoin was a huge failure in El Salvador haha. They literally started coming out 7 months after it was made legal tender. Just like, wtf??! How about we wait a reasonable amount of time, like 10 years, not 7 months lol.

I have also been an advocate of the long-term Bitcoin view for El Salvador since El Salvador is the first Bitcoin pioneer country. Those who have made polls or conducted surveys that came up with the conclusion that El Salvador's Bitcoin adsorption is a failure have deviated from the truth, because the indices used for the such survey are wrong and the survey result is widely discarded.
As you rightly said, we should give El Salvador a couple of years from now before making any attempt to measure the extent this bitcoin adoption has gone be it negative or positive impact on El Salvador's economy, in the next 5 to 6 years from now El Salvador would have to build a solid foundation for themselves and the citizens who have adopted Bitcoin early and gaining the necessary knowledge will be at advantage compared to those who are currently unaware of the financial possibilities with Bitcoin.
Recently El Salvador's President went all in again into Bitcoin by announcing the daily bitcoin purchase for the country's Bitcoin reserve, a 1 Bitcoin daily purchase will go a long way to increase El Salvador's chances of making huge returns on the bitcoin most especially buying Bitcoin now that the price is low.

[JayJuanGee]

Thanks for this clarification which i think will shed more light to OP of this thread and any other person thinking contrary to the success of bitcoin adoption in El-Savador, let me add this that people tend to accept what they called ponzi scam centralized inventions than what seems to be genuine like bitcoin, i wonder why people are really missing this a big time, instead of them to engage awareness campaign against shitcoins and other ponzi-like projects and currencies that extort from people in a dubious ways they begin to stage assault on the first ever invented digitally decentralized currency bitcoin, people are truly missing it up, while El-Savador is already making it up with it's adoption, everything we almost hear about El-Savador on media are just backed by the influence of news and publicity, they are not the real situation in El-Savador than the ones the official government presented through their verified social media handles, if you should visit El-Savador today, you would have discovered alot of transformation it had from few years back and all these were the evident in it bitcoin adoption.

Yes.. bitcoin seems to give a kind of hope and a reason to attempt to develop in a variety of positive directions with various projects that have potentially solid financial futures.. even if currently, they seem to be in the relatively early building stages of various projects - and several of those projects (such as trying to clean up some the criminal matters.. and the kinds of blackmailing behaviors and violence of gangs that threaten the rule of law, but then also cause a lot of disincentives to finance and even disincentives for people to want to participate in society or in the economy) have relations to bitcoin, even if the direct ties might not be exactly apparent on the face..

All I could do was laugh when these articles started coming out in the Spring claiming Bitcoin was a huge failure in El Salvador haha. They literally started coming out 7 months after it was made legal tender. Just like, wtf??! How about we wait a reasonable amount of time, like 10 years, not 7 months lol.

I have also been an advocate of the long-term Bitcoin view for El Salvador since El Salvador is the first Bitcoin pioneer country. Those who have made polls or conducted surveys that came up with the conclusion that El Salvador's Bitcoin adsorption is a failure have deviated from the truth, because the indices used for the such survey are wrong and the survey result is widely discarded.
As you rightly said, we should give El Salvador a couple of years from now before making any attempt to measure the extent this bitcoin adoption has gone be it negative or positive impact on El Salvador's economy, in the next 5 to 6 years from now El Salvador would have to build a solid foundation for themselves and the citizens who have adopted Bitcoin early and gaining the necessary knowledge will be at advantage compared to those who are currently unaware of the financial possibilities with Bitcoin.
Recently El Salvador's President went all in again into Bitcoin by announcing the daily bitcoin purchase for the country's Bitcoin reserve, a 1 Bitcoin daily purchase will go a long way to increase El Salvador's chances of making huge returns on the bitcoin most especially buying Bitcoin now that the price is low.

In essence, I agree with what you are saying Odusko including the part in which bitcoin is not necessarily ONLY a straight-forward financial investment, but it also has a learning and getting used to component, so in that regard, it can take a while for people and/or institutions to really get used to figuring out how and how much to put bitcoin into their lives and to build that through knowledge, time and even finances.. and each of those investments do not need to be a lot at once, but there can be a lot of advantages to building the time energies and finances over a decently long period of time.

[bitzizzix]

Thanks for this clarification which i think will shed more light to OP of this thread and any other person thinking contrary to the success of bitcoin adoption in El-Savador, let me add this that people tend to accept what they called ponzi scam centralized inventions than what seems to be genuine like bitcoin, i wonder why people are really missing this a big time, instead of them to engage awareness campaign against shitcoins and other ponzi-like projects and currencies that extort from people in a dubious ways they begin to stage assault on the first ever invented digitally decentralized currency bitcoin, people are truly missing it up, while El-Savador is already making it up with it's adoption, everything we almost hear about El-Savador on media are just backed by the influence of news and publicity, they are not the real situation in El-Savador than the ones the official government presented through their verified social media handles, if you should visit El-Savador today, you would have discovered alot of transformation it had from few years back and all these were the evident in it bitcoin adoption.

Investing in Bitcoin is a long-term proposition, and if El Salvador continues HODL or buys again because now is the right time, they will become a leading economic force in the future.
and in other words: it's too early to know, but I think El Salvador will be a prime example of what to do in the future.
The adoption of bitcoin in El Salvador is definitely a very good step in its growth, but bitcoin is still in its infancy and in one country it will take years for the economy to develop and adopting bitcoin in El Salvador is a very good step for the future, because in the future of bitcoin and in the long term butcoin not only gives hope but can realize what they expect and will make other countries shake their heads.

[Xxmodded]

Barometer for Bitcoin prices has been dropping since El Salvador announced bitcoin as an legalize transaction payment currency today become many perceptions that compare El Salvador's failure in terms of investing in Bitcoin. However, there are many positive sides currently developing in El Salvador after adopting Bitcoin as legal currency payment transaction, such as tourist arrivals which are increasing from year to year and of course Bitcoin is an investment in the long term.

One day later when Bitcoin reaching higher price and El Savador announced with purchasing 1 Bitcoin in daily day begin last week I think make all cristism about Bitcoin adaption failed in El Savador will quit.

[Aanuoluwatofunmi]

Thanks for this clarification which i think will shed more light to OP of this thread and any other person thinking contrary to the success of bitcoin adoption in El-Savador, let me add this that people tend to accept what they called ponzi scam centralized inventions than what seems to be genuine like bitcoin, i wonder why people are really missing this a big time, instead of them to engage awareness campaign against shitcoins and other ponzi-like projects and currencies that extort from people in a dubious ways they begin to stage assault on the first ever invented digitally decentralized currency bitcoin, people are truly missing it up, while El-Savador is already making it up with it's adoption, everything we almost hear about El-Savador on media are just backed by the influence of news and publicity, they are not the real situation in El-Savador than the ones the official government presented through their verified social media handles, if you should visit El-Savador today, you would have discovered alot of transformation it had from few years back and all these were the evident in it bitcoin adoption.

Investing in Bitcoin is a long-term proposition, and if El Salvador continues HODL or buys again because now is the right time, they will become a leading economic force in the future.
and in other words: it's too early to know, but I think El Salvador will be a prime example of what to do in the future.
The adoption of bitcoin in El Salvador is definitely a very good step in its growth, but bitcoin is still in its infancy and in one country it will take years for the economy to develop and adopting bitcoin in El Salvador is a very good step for the future, because in the future of bitcoin and in the long term butcoin not only gives hope but can realize what they expect and will make other countries shake their heads.

Well spoken, this kind of El-Savador's mindset is what we take in with bitcoin in cryptocurrency whereby you keep investing in a currency that is valid and legit when it's at dip, because there will always be time to sell high when the price soar higher than it has been, all decisions made by the president in person of Nayib Bukele were totally inline with the required strategies to how bitcoin should be bought, sold and hodl, in due season more things are going to get unfold about the impact El-Savador has benefited from it adoption.

[JayJuanGee]

Thanks for this clarification which i think will shed more light to OP of this thread and any other person thinking contrary to the success of bitcoin adoption in El-Savador, let me add this that people tend to accept what they called ponzi scam centralized inventions than what seems to be genuine like bitcoin, i wonder why people are really missing this a big time, instead of them to engage awareness campaign against shitcoins and other ponzi-like projects and currencies that extort from people in a dubious ways they begin to stage assault on the first ever invented digitally decentralized currency bitcoin, people are truly missing it up, while El-Savador is already making it up with it's adoption, everything we almost hear about El-Savador on media are just backed by the influence of news and publicity, they are not the real situation in El-Savador than the ones the official government presented through their verified social media handles, if you should visit El-Savador today, you would have discovered alot of transformation it had from few years back and all these were the evident in it bitcoin adoption.

Investing in Bitcoin is a long-term proposition, and if El Salvador continues HODL or buys again because now is the right time, they will become a leading economic force in the future.
and in other words: it's too early to know, but I think El Salvador will be a prime example of what to do in the future.
The adoption of bitcoin in El Salvador is definitely a very good step in its growth, but bitcoin is still in its infancy and in one country it will take years for the economy to develop and adopting bitcoin in El Salvador is a very good step for the future, because in the future of bitcoin and in the long term butcoin not only gives hope but can realize what they expect and will make other countries shake their heads.

Well spoken, this kind of El-Savador's mindset is what we take in with bitcoin in cryptocurrency whereby you keep investing in a currency that is valid and legit when it's at dip, because there will always be time to sell high when the price soar higher than it has been, all decisions made by the president in person of Nayib Bukele were totally inline with the required strategies to how bitcoin should be bought, sold and hodl, in due season more things are going to get unfold about the impact El-Savador has benefited from it adoption.

When a country like El Salvador (or even an institution or an individual) decides to invest into bitcoin for the longer term, the goal does not tend to be selling (or at least it should not be) - even though a lot of additional comfort can come to any investment when it is "in profits" rather than either flat or negative.

So if anyone actually understands investment dynamics, there may well not tend to be a lot of moving around and/or trading in and out of investments that are intended to be longer term - even if some of the longer term may well have higher levels of volatility like bitcoin has had historically and it is expected that bitcoin's high level of volatility will continue in the years to come.  I like to say that one of the most inevitable dynamics in bitcoin is it's likely ongoing volatility.

There are a variety of ways that long term investors can attempt to mitigate likely inevitable volatility, and one of the ways would be to get in early and keep buying and hopefully the volatility to the upside will end up causing the volatility to the downside to be less painful - or at least not force any kind of bitcoin sales when the BTC price is dropping or has dropped significantly... at the same time, if the bitcoin price is down for a long time, even long time holders/investors might feel that they are not able to sell their bitcoins... so hopefully, governments, institutions and people who are in these kinds of situations will have sufficiently and adequately established other cashflow and funding sources so that they either do not need to sell bitcoin when it is seeming to be relatively down in price and/or that they are able to continue to add to their BTC stash when the BTC prices seem to be relatively down.  Buy on the dip and DCA ideas in terms of managing one's bitcoin holdings.